A provincial university was first called into being by the British Columbia University Act of 1908, although its location was not yet specified. The governance was modelled on the provincial University of Toronto Act of 1906 which established a bicameral system of university government consisting of a senate (faculty), responsible for academic policy, and a board of governors (citizens) exercising exclusive control over financial policy and having formal authority in all other matters. The president, appointed by the board, was to provide a link between the two bodies and to perform institutional leadership. The Act constituted a twenty-one member senate with Francis Carter-Cotton of Vancouver as Chancellor.
Before the University Act, there had been several attempts at establishing a degree-granting university with assistance from the Universities of Toronto and McGill. Columbian College in New Westminster, through its affiliation with Victoria College of the University of Toronto, began to offer university-level credit at the turn-of-the-century, but it was McGill that would come to dominate higher education in the early 1900s.Henry Marshall Tory
Building on a successful affiliation between Vancouver and Victoria high schools with McGill University, Henry Marshall Tory helped to establish the McGill University College of British Columbia. From 1906 to 1915 McGill BC (as it was called) operated as a private institution providing the first few years toward a degree at McGill University or elsewhere. The Henry Marshall Tory Medal was established in 1941 by Henry Marshall Tory (1864–1947), FRSC, founding President of the University of Alberta and of the National Research Council of Canada, and a co-founder of Carlton University.
In the meantime, appeals were again made to the government to revive the earlier legislation for a provincial institution, leading to the University Endowment Act in 1907, and The University Act in 1908. In 1910 the Point Grey site was chosen, and the government appointed Dr. Frank Fairchild Wesbrook as President in 1913. A declining economy and the outbreak of war in August 1914 compelled the University to postpone plans for building at Point Grey, and instead the former McGill University College site at Fairview became home to the University until 1925. The first day of lectures was September 30, 1915, the new university absorbing McGill University College. University of British Columbia awarded its first degrees in 1916.
UBC consistently ranks as one of the top three Canadian universities by Research InfoSource[38] and ranks thirtieth in the world (second in Canada) in the 2010 Times Higher Education World University Rankings and thirty-sixth in the world (second in Canada) in the 2010 Academic Ranking of World Universities. In 2006, Newsweek magazine ranked the University of British Columbia second in Canada and 27th in the world. The QS World University Rankings (recently splitting from a joint world university rankings study with the Times Higher Education) ranked UBC as third in Canada and forty-fourth in the world in 2010. According to Maclean's University Rankings, UBC has the highest percentage of Ph. D level professors among all public universities in North America (92%). It has received widespread recognition by Maclean's and Newsweek magazines for its foreign language program; the Chinese program is North America's largest, and the Japanese program is North America's second largest (after the University of Hawaii). The Department of Economics as well as the Engineering Department are constantly ranked Top 20 in the World. The Department of Art History, Visual Arts and Theory has been recognized consistently for the world-class artists who teach there.[citation needed] In 2003 the National Post stated UBC had the highest entrance requirements for undergraduate admission out of all universities in Canada.