The University of St Andrews has announced plans to create a new business school by bringing together its schools of economics, finance and management under one structure.
The new business school should provide the university’s experts in economics, finance and management with the investment and support to respond most effectively to the post-pandemic, climate-emergency agendas and new economic, social and political challenges.
Both schools at St Andrews are currently ranked in the top five of their subject areas in the UK.
The new St Andrews Business School will focus on research, teaching, policy and practice development in finance, economics and management, as three interlinked subject areas.
It will also aim to build on the research-led teaching of the two current schools across all levels, from undergraduate to postgraduate.
St Andrews has 80 full-time permanent academic staff across economics, finance and management, and has begun discussions with staff about the vision for the new school.
The university also noted that this as an investment, rather than any attempt to trim resources, and there will be no compulsory redundancies as a result of the move.
There will be no change to teaching programmes or degrees awarded to currently enrolled students, or students who have accepted a place to study at either school.
Engagement and planning with staff, students and other key stakeholders will continue through to the spring, before a period of transition from two schools to one begins next summer.
St Andrews has appointed deputy principal, professor Brad MacKay, as interim dean of the business school, to oversee the initial structural changes and building of collaborative activities.
The formal transition to a single school will conclude in September 2024, with the appointment of a new dean of the business school and the launch of a new masters and executive education programmes.
In the medium term, the new business school will continue to have sites at different locations in St Andrews. The School of Economics & Finance is on The Scores, while the School of Management is at the Gateway Building on the North Haugh.
In 2027, it is hoped that the business school will move to a single site at New College, on the site formerly occupied by Madras College in South Street. It will share that site with the School of International Relations.
The university is currently appointing architects for the flagship New College development, and will make an announcement on that project shortly.
“We are fortunate to count amongst our colleagues here at St Andrews some of the foremost academic authorities in management, finance, and economics,” said principal and vice chancellor, professor Dame Sally Mapstone.
“We have a fantastic opportunity to create a new school to support those colleagues to apply their expertise in a world whose priorities and challenges shifted so rapidly during the pandemic, and continue to change now.
“Critically, it will encourage interdisciplinary research and teaching and, we hope, add to Scotland’s reputation as a centre of research and higher education excellence.”
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