Dear Burak,
Yes, many institutions use a similar setup to the one you have indicated. However, it is also possible to use subject areas as departments (one department per timetabling unit), and to use the course number to identify each course. For instance, there could be a BUS subject area for the courses offered by the Business faculty (or a particular department/timetabling unit within the faculty), with the course numbered BIM 150 (the course would be lised as BUS BIM 150 in UniTime, but you could only rely on the course number when it comes to integration with other systems at your institutions). Similarly, there can be a course under the ENG - Engineering subject that is numbered BIM 101.
Another approach is to use a
cross-list: an instructional offering can be offered under multiple names (course offerings), but only one is marked as controlling, and the department in the subject area of the controlling course is responsible for the timetabling of the offering. So, a BIM 150 course can be cross-listed with, say, YAM 150, with YAM 150 marked as the controlling course. This way, the course is timetabled by the department of the YAM subject area, but the students can request it under both course names.
Also, a course offered by one faculty can be requested and attended by students of other faculties (e.g., can be present in curricula from other departments/faculties).
Best regards,
Tomas Muller