Vienna University of Economics and Business Administration

Encyclopedia : V : VI : VIE : Vienna University of Economics and Business Administration

The Wirtschaftsuniversität Wien (WU Wien) or Vienna University of Economics and Business Administration is the largest University focusing on business and economics in Europe and, in terms of student body, one of the largest universities in Austria. Its current rector is Christoph Badelt.

Contents

1 History
2 WU Today
3 Research
4 Studies
5 Notable faculty members
6 Notable alumni
7 External links

History

The WU was founded on October 1, 1898 as k.u.k. Exportakademie to provide professional training to future businessmen and thus stimulate the Austro-Hungarian economy. From humble beginnings as a professional school, it quickly grew to become an important institution, which was awarded the status of a fully-fledged Hochschule (an educational institution equivalent to a university, but specializing in a certain field such as technology or business) in 1919. At that time, it was renamed to Hochschule für Welthandel. The course of studies leading to the academic degree of Diplomkaufmann provided training preparing for the export and banking businesses and was very practical, comprising courses in business administration, economics, law and others.

In 1930, the Hochschule für Weldhandel was granted the right to issue doctoral degrees.

Old Building of Hochschule für Welthandel

After World War II, the Hochschule für Welthandel increased its breadth in research. It started to become a very important institution in Austrian society at that time; most Austrian managers and many politicians received their university education here. From 1966 onward, it began to offer a more theoretical course of studies in economics. In 1975, it was renamed to Wirtschaftsuniversität Wien. At the same time, the number of students began to increase dramatically. In 1983, it moved to its current campus in Vienna's 9th district.

WU Today

Today, WU has more than 20,000 students and over 400 researchers and teachers, among those about 80 full professors. It increasingly draws students from outside Austria, mostly from Central and Eastern Europe. Most of the faculty are of Austrian or German nationality.

As the legal regulation of universities in Austria has changed dramatically during the last years, forcing university to compete with each others, WU, as other Austrian universities, is attempting to tailor its curricula to the needs of the market and to streamline its research program.

Research

Researchers at the WU work in the following fields:

Business administration and all its branches
Economics
Law
Linguistics, focusing on business communication
Sociology
Mathematics and Statistics
Economic history and geography

It should be noted that WU is not associated with the School of Austrian Economics which developed at the University of Vienna in the late 19th and early 20th century. While the University of Vienna's economics department remains particularly strong in analytical research, WU's economics department today exceeds it both in terms of faculty size and number of students. With students in Austria being free to choose at which university they enroll, WU has become the most popular business and economics university in Vienna and in Austria.

Studies

Due to its large size, WU is able to offer a very broad range of electives which is probably unparalleled anywhere in German-speaking countries.

Beginning in Fall 2006, WU is planning to align its study programs with the Bologna process, offering both bachelor and master programs. Currently, the WU is offering the following four-year studies leading to a Magister der Sozial- and Wirtschaftswissenschaften (Master of Social and Economic Sciences) degree:

Business Administration
International Business Administration
Economics
Management Science
Socio-economics
Business and Law
Business education
Management information systems (already converted to a bachelor/master program)

WU offers the following advanced degrees:

Doctoral Program in Social and Economic Sciences
International MBA (in English; jointly with the University of South Carolina)
Executive MBA (in English; jointly with the University of Minnesota)
LL.M. in international tax law (in English)

As at any Austrian or German university, scholars can also achieve a Habilitation at the WU.

Furthermore, several courses in continuing education are offered (e.g. in advertising and sales, tourism management).

Notable faculty members

Notable alumni

Politicians: Thomas Klestil (1932-2004), Austrian President (1992-2004); Franz Vranitzky (1937- ), Austrian Chancellor (1986-1997), Ferdinand Lacina (1942- ), Austrian Finance Minister (1986-1995); Hannes Androsch (1938- ), Austrian Finance Minister (1970-1981) and Vice-Chancellor (1976-1981); Christoph Chorherr, Green Party Spokesperson (1996-1997); Madeleine Petrovic, Green Party Spokesperson (1994-1996).
Entrepreneurs and Managers: Peter Brabeck-Lethmathe (1944- ), Chairman and CEO Nestlé AG; Dietrich Mateschitz (1944- ), CEO Red Bull, Claus Raidl (1942- ), CEO Böhler-Uddeholm.
Public Institutions: Maria Schaumayer (1931- ), President Austrian Central Bank (1990-1995).

External links

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