1. Teach DS and Algos. Not basics but advanced data structures and the ones that are recently published.
2. DBMS should show core underlying concepts of how queries are executed. Also, what data structures are used in new tech.
3. Teach linkers, compliers and things like JIT. Parsers and how languages have implemented X features.
4. Focus on concept instead of languages. My school has a grad course for R and Java. (I can get that thing from YouTube !!)
5. Focus a little on software engineering design pattern.
6. It's a crime to let a developer graduate if he doesn't know GIT or any version control. Plus, give extra credits for students contributing to open source. Tell them if they submit a PR you get good grades. If that PR gets merged bonus (straight A may be ?)
7. Teach some design pattern and how industry write code. I am taking up a talk at school to explain SOLID design pattern.

Mostly make them build software!
Make them write code!
Make them automate their homeworks!

Make them an educated and employable student.!