Everything about Vienna University Of Economics And Business Administration totally explained
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.
History
The WU was founded on
October 1,
1898 as
k.u.k. Exportakademie in a similar vein to
L.S.E., 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 or art) 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 Welthandel was granted the right to issue
doctoral degrees.
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.
Dramatic changes in the legal regulation of Austrian universities in the last few years have forced universities to compete with one another for students. To meet this challenge, WU 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:
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 academic research and publication in peer-reviewed journals, 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- und 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 (for example in advertising and sales, tourism management).
Notable faculty members
Christoph Badelt
Stefan Koch
Ewald Nowotny
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, Hans-Peter Haselsteiner (1944- ), CEO Strabag SE
Public Institutions: Maria Schaumayer (1931- ), President Austrian Central Bank (1990-1995).Further Information
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