The University of Sydney will slash up to 100 degrees from its portfolio and triple its annual investment in research to $900 million over six years, the university's vice-chancellor Michael Spence has revealed.
On Thursday the university announced its 2016-2020 Strategic Plan to streamline degrees into three "tracks": professional development, research and a more open track for broader education.
Dr Spence said that the university will end up with about 20 degrees across streamlined arts and social sciences, business, engineering, science, health, and medicine faculties and the schools of law, architecture and the conservatorium of music.
It currently has more than 122 degrees across 16 faculties in its Camperdown, Lidcombe and Westmead campuses, the list of remaining degrees is still being negotiated between the faculties.
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"This is an unashamedly ambitious plan, outlining a clear vision that holds true to the university's essential character," Dr Spence said.
The plan is the culmination of a six-month overhaul to make Sydney more competitive with Melbourne University. The Victorian sandstone institution has consistently beaten its northern rival on academic league tables for the past decade.
At the same time, Sydney University has sought to tap into employer concerns over the quality of graduates, by offering skills-focused courses in digital literacy, cultural competence, ethics and the ability to understand and translate data, through a new four-year bachelor of advanced studies program. It will also encourage potential PhD students through masters of research over honours courses.
From next year, Dr Spence said the university would triple its research investment from $50 million to $150 million per year.
The research push is designed to improve the university's international ranking as it comes under threat from local competitors such as UNSW looking to get a bigger piece of the multibillion-dollar international student market.
Dr Spence said the 166-year-old university will increase the number of Sydney University students going on exchange overseas from 19 per cent to 50 per cent by 2020, while also targeting high achieving international PhD students students for the first time.
"We are very keen to invest more in bringing more brightest students through additional funding. Australia has a talent pool of 23 million people, we live in a big world, that is how America built its great university system," he told Fairfax Media. "It is good for everyone and good for innovation."
Dr Spence denied the investment would take money away from local research students. He added a key goal of the university was getting more east Asian students into prominent positions in Australian society.
"The next big area is in the empowerment of students and staff from cultural and linguistically diverse backgrounds," he said.
"For 30 years James Ruse High School has been pumping out very clever east Asians, where are they?" asked Dr Spence.
"The university has a particular responsibility in our own life and that is a big part of what we are doing," he said.
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