I did a university program that is similar to IST. It really is broad and you can't say you are really a business student since you only learn the fundamentals, and also not a comp sci student since you don't learn much about interesting algorithms or even how to do a bit shift operation.
However, I really enjoyed it since I had the interest to learn on my own. I work along side computer scientists and engineers and can analyze, design, and implement solutions as well them but it didn't come easy. Worked many jobs as code monkey, reading lots of books on design patterns and enterprise development, as well as getting some certifications along the way to give me some more cred.
Depends on which way you want to go, but from my standpoint, most coders don't want to stay coders and want to move on to higher level design/management. The key is that you need to work from the bottom up if you really want to be successful. I've seen too many project managers and leads who have business background but not enough technical skills to really be a good leader.