(1) The departments of the university are: (a) a preparatory department, which may be dissolved as the regents deem wise, containing courses designed to prepare a student for the regular department; (b) a department of literature, science, and the arts, offering courses which shall include: (i) mathematics, physical and natural sciences, with their application to the industrial arts; (ii) languages, literature, history, and philosophy; and (iii) other courses at the regents' discretion; and (c) professional and technical departments. (2) When the income of the university allows and demands require, the courses may form departments with a faculty and an appropriate title.