Financial markets play an important role in the global economy, for individual countries, and ultimately for each inhabitant. Knowledge of economic interrelationships is a prerequisite for understanding the financial system.

The Department of Finance & Applied Economics therefore combines the fields of finance and economics.

Economics deals with human activity under economic conditions and tries to answer the questions of how such activity can be economically justified and which activities bring the greatest possible benefits to individuals. It searches for recommendations and legitimacy in economic policy.

Individual economic processes are considered in the context of microeconomics and aggregate economic processes in the context of macroeconomics.

Finance, as a counterpart to the real economy, deals in detail with the functions of the financial markets, with price formation in markets, with the instruments and participants in markets and with financial risks. The financial sector, in the context of corporate finance, can be divided into financing (raising capital), investment (using capital) and risk management.


The Department of Finance & Applied Economics offers courses for both general and specialised studies of economics.

General courses

  • Fundamentals of corporate finance (Bachelor of Business Consultancy)
  • Introduction to the world of finance (Bachelor of Business Consultancy)
  • Corporate finance (Bachelor of Business Consultancy International)
  • All courses in economics (e.g. microeconomics, macroeconomics and applied economics)

Specialised courses

The Department of Finance & Applied Economics offers four specialisations in the following programmes:

Bachelor programmes:

Business Consultancy InternationalInternational Accounting & Finance

Master programmes:

Wirtschaftsberatung & UnternehmensführungEuropäische Finanzierung & Risikomanagement
Business Consultancy InternationalTreasury & Investment


The department deals constantly with current industry-related issues in order to ensure high-quality teaching within the context of applied research. This is supported through successful partnerships with industry.

Research competencies

  • Investing in and financing companies
  • Financial markets in the CEE
  • Agency theory, economic contract theory, insurance markets, corporate governance
  • Financial markets and financial market crises: theoretical and empirical studies
  • Pedagogy of finance and economics (with new media)

Reference projects

  • The Austrian microcredit market
  • Determinants of the capital structure of companies
  • Efficiency of stock markets
  • European legal requirements
  • Financial consulting in Austria

Current projects

  • Banks in Lower Austria
  • Across-country real options in international business

Head of Department

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