Studying economics and business abroad in Austria, the historical, cultural, educational center of Europe, is offered by high-quality universities and colleges. A long academic tradition and an open learning environment make Austria an excellent choice for students seeking international education. Programs are focused on research or problem learning. Once the heart of the Austro-Hungarian Empire, Austria is one of the most important business centers in Europe. Despite the fact that the empire ended its existence, Austria remains an economically strong country.
Most people know Austria for its tourist attractions and cultural heritage, and the country really attracts many travelers every year. But Austria has more to offer than just beautiful palaces, delicious cuisine and natural wonders. It is home to some of the world's most famous brands such as Red Bull, Swarovski and others, which means a huge need for qualified professionals - economists, business managers.
Higher education in economics and business in Austria
Austria offers higher education under the supervision and funding of the Federal Ministry of Science and Research. 11 private and 23 public universities in Austria provide students with a wide range of degree programs in economics and business. State universities specialize in various fields of study, private universities allow successful students to study several subjects at the same time: combine the study of economics with psychology, biology, and social sciences.
Since 2001, Austrian university students no longer receive free education, however, students from the European Union or the European Economic Area (EEA) who complete their studies within a minimum period (three years) do not have to pay tuition fees. International students must pay tuition fees from 700 € per semester.
Duration of training:
- A Bachelor of Economics degree in Austria takes three years.
- Obtaining a master's degree in economics or a Ph.D. - 2-3 years, depending on the type of subject and the specifications in which the student is applying.
Studying Economics in Austria
Bachelor of Economics examines all factors related to the production, distribution and consumption of goods and services, analyzing both small-scale (microeconomics) and global (macroeconomics) economic factors. Bachelor of Economics degrees offered by universities and colleges teach students how to optimize economic actions to improve the welfare, prosperity of economic agents, consumers.
Studying economics in Austria is suitable for those who are used to using math, numbers. Economics is a universal subject related to a wide range of other disciplines, a kind of universal language that can be applied in many contexts.
You can specialize in a wide variety of subjects:
- financial economics
- labor economics
- international economy
- business economics
- international economy
- environmental economics
- development economics
- econometrics and many others.
During your Bachelor of Economics studies, you will take a variety of classes that differ depending on the university you will be studying at. General disciplines:
- game theory
- fundamentals of macroeconomics and microeconomics
- economic development
- resource economics
- statistics
- computing and much more.
Economics is a vast and all-encompassing field: it helps students develop a variety of skills that they can use in their future careers. You will learn how to assess and calculate risks, make predictions, how certain factors will affect the behavior of society, get acquainted with mathematical models and their use, develop skills in analysis and synthesis. Economic research provides a solid foundation for future business research through a deep understanding of market dynamics. You will learn how to best communicate findings and ideas to people who are not experts, but who need an understanding of economics to make business decisions.
Career in Economics in Austria
While a Bachelor of Economics degree is an excellent source of information and experience, it is not limited to a specific career after graduation. Numerous areas await graduates of economics in the public and private sectors. You will find jobs in government, banks, business journals, or higher education if you plan to pursue a PhD in economics later on. You will be able to select positions such as:
- Consultant
- Economic analyst
- Researcher
- Financial analyst
- Business analyst
- Stock market specialist.
Graduates of the BA in Economics can use their BA in other disciplines: accounting, auditing, insurance, management, advertising.
Top 5 Business Schools in Austria
Vienna University of Economics and Business, WU (Vienna University of Economics and Business)
Top 5 business schools in Austria are led by the Vienna University of Economics and Business, commonly referred to as WU: it is renowned for excellent research and education in business, economics, a global approach and social responsibility.
WU's education and research meets the highest standards and this is reflected in the international accreditations received. WU is accredited by AACSB, AMBA and EQUIS, which are international accreditations for schools of business and management. It is one of six universities in German-speaking countries that has received three accreditation.
The WU diploma equips graduates with the knowledge and skills necessary to succeed in business and academia, and its graduates are in demand both locally and internationally. Ranked among the top 50 business and management schools by QS, WU is without doubt one of the best business schools in the world.
Webster University Vienna
Webster University Vienna is a non-profit private university, the Austrian branch of a successful American educational institution. The first Webster University was founded in 1915 in the USA (St. Louis, Missouri), and the first international branch was opened in 1978 in Geneva. Founded in 1981, Webster University Vienna is located on a cozy, well-groomed area near the center of the Austrian capital - from year to year it is included in the top 40 universities in Austria, offering effective modern training programs for students from all over the world. Teaching is conducted in English, you can study individual disciplines in German. Webster University Vienna became the first university in Austria with business education programs.
International Business School Vienna
International Business School Vienna is a prestigious business school that awards degrees on behalf of the University of Buckingham, UK. The school gives a unique opportunity to students: they study in one of the most beautiful cities in the world in English and receive a British diploma.
The International Business School in Vienna is a branch of a prestigious educational network, the main campus of the educational institution is located in Budapest, Hungary. The School of Business was opened in 1991 and has become one of the largest educational institutions in the field of education for entrepreneurs, managers, economists.
Education here is focused on innovation, moving away from classical education in universities. The educational space, harmoniously combining the office environment with the school, is organized in small classrooms, where students are provided with access to equipment and sufficient time to communicate with the lecturer.
The teachers at the Vienna school are experienced academics with experience in business: they lead first-class seminars, interactive master classes based on case study. The high level of academic preparation is maintained thanks to the professors of the campus in Budapest: teachers from Hungary regularly visit the Vienna school, helping students achieve their goals and gain a variety of practical experience.
Faculty of Business, Economics and Statistics, University of Vienna
The Faculty of Business, Economics and Statistics at the University of Vienna has a long history of academic achievement, a long history of teaching the business leaders of tomorrow.
As one of the best business schools in Austria, the faculty offers many outstanding programs designed to equip students with practical knowledge and skills. To improve the global outlook of students, to increase their international competitiveness, courses are taught in English and German, there are many opportunities to study abroad.
School of Management, Vienna University of Technology (TU Wien)
The School of Management of the Vienna University of Technology trains professionals and experts. At the Center for Continuing Education of the University of Technology, the School of Management offers MBA programs with a specialization in technology, and the business school is designed for advanced training, additional training of specialists in need.
The school offers what professionals and business leaders need to move companies forward and contribute to the economic growth of their businesses. Courses are offered to help with digitalization, preparatory programs for IPMA, the globally recognized certification exam for project managers.
Recognizing the importance of international competitiveness, the school offers courses in English and German as well as Chinese courses for those looking to expand their companies and start doing business in Asia. With a clear understanding of what professionals need to succeed in business, the TU Wien School of Management is an excellent choice for executives, experts, managers.
