The board also approved a bachelor's degree in marketing at The University of South Dakota, and a minor in biomedical engineering at South Dakota State University.
Northern officials expect the number of students pursuing the new banking degree to increase from 25 to 169 in the first three years of the program. The coursework will be coupled with a required internship at a bank or financial institution. "We see this program especially benefiting the smaller communities across South Dakota, whose financial institutions serve as a pillar of economic development and play a vital role in the community's success," said Regents President Harvey C. Jewett.
The degree is being implemented with no new state resources or increased student fees. Northern received permission to offer the new major through USDSU in Sioux Falls and by distance delivery through the Electronic University Consortium.
The new marketing major at USD replaces a previous specialization in the field. The 74 students currently enrolled in the specialization will now receive a bachelor of business in administration with a major in marketing. The university also was authorized to deliver the marketing major in Sioux Falls through USDSU.
SDSU received permission to offer a biomedical engineering minor, which students may add to all engineering or engineering physics degrees offered on the Brookings campus. Biomedical engineering applies the concepts and methods of engineering and the physical sciences to the fields of medical and biological sciences. University officials estimate up to 20 students could be pursuing the minor in the next three to four years.