So it seems as though the main purpose of the course is to give you the basics in creating your own game, rather than preparing you to work with a company or team. I'm sure you'll be doing some team based projects though, but it's basically to equip yourself will all of the tools to stand alone.
Also, it really seems as though schools are just trying to get to grips with the whole system too. I mean, go back maybe 6 years, and courses for games were very, very sparse. It's understandable though, with the speed that the industry is growing, how do you teach? There isn't really any uniformity, and it changes from company to company. But, it's positive that schools are at least trying. This is great.
I won't claim to be an expert. But I will share what I know. I've been involved in the development field for coming close to 6 years now, so I'll try and share what I know in regards to criteria. But the main thing to remember, is that there really is no standard. The position, country, company are all factors. This is the case with all jobs, but more so with games because it is still a new industry.
Artists, Animators, Concept Artists, Modeler etc -
It's unfair to lump all of these roles into one position, because they can be very specialist. But fortunately, they share very similar requirements. Depending on the country, the qualifications may or may not be a factor. Some companies filter via qualifications, but many ask then as more of a routine thing. Qualifications are more important if you are new, because they are your only experience.
For an artist, the portfolio is the main tool used for judging. So it is where the artist's focus should be in terms of where they can sell themselves.
With the portfolio, they should also show there strengths, but also diversity. Lead with what you are best at, but make sure there is a mix of all kinds of styles, effects, environments, characters, sketches and models. Also, a major factor with art, is the time it takes to complete the work. Someone may be an amazing artist, but if it takes 3 weeks to complete a model, then that's not going to work very well in an environment where you may be asked to model 10 characters in 3 months.
The most common software that I have seen being asked for, is Photoshop and Maya. Which is okay, because these are two tools that are widely available and used through schools and enthusiasts.
Designer, Level Designer -
Hardest position to get. No doubt. The only easy way, is if the company needs people, and people with experience are too expensive or just not available. That way, the guidelines loosen a little, making things a bit easier.
There's no qualification that is a guarantee, just proof that you can do it, or have the knowledge that can get you a junior role. This can happen with schooling, but it's a rarity. Solid experience and physical proof is the best way to get a role, which is a catch 22 considering that would actually mean that you already have to have had a job doing it anyway.
For game design, indie is the best way for it or mods. If you have built decent mods, or worked on small indie projects that show your design, then the chance increases a lot. There is a route in through QA, but this requires the slim chance of being a studio QA, and then that they have an opening for a junior position. It's tough.
Software wise, there really aren't any specific tools. A lot of games have their own editing suites built with the game engine and refined for the job, so it's different each time.
Programming -
There are loads of areas of programming which fortunately, open up after initial employment. You may begin to specialize after you have been doing it for a while. Perhaps specializing in engines, AI, physics, or network code. This all depends on the languages you know, but again, most are learned by doing, and can be done through employment.
Most of the main languages that I see, are Java and C++. C++ especially for large studios. And then there is Objective C, for those that want to take the App route into development.
It's the easiest way to get a job, because it is really the only role where you really need to have gone to school. But Game Programmers are tough to find, especially good ones. A lot more juniors are coming through school now though, so this may change in 3-5 years.
There are other job roles, loads actually. But these are the core roles that do the building. There is also audio engineers/designers and composers, but my experience isn't that great in that aspect. It's another tough way to break in though. Usually companies keep the same team of sound engineers and definitely composers. Plus there is a lot of outsourcing done in this area too.
As I said, I'm far from a veteran. But this is what I know.