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.
Teaching
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: | Specialisations: |
|---|---|
| Business Consultancy (German) | Finance |
| Business Consultancy International | International Accounting & Finance |
| Master programmes: | |
| Business Consultancy International | Treasury & Investment |
Research
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
News
Open Lecture: From valuations to regulations: impacts of IBOR transition
by Deloitte Banking, Treasury & Capital Markets
On May 5th, 2024, the Department of Finance & Applied Economics hosted an open lecture by Sascha Bakry, Yordan Mahmudiev, and (FHWN alum) Matthias Pfoser from Deloitte's Banking Treasury and Capital Markets Team on recent developments around reference rates as the finance sector has transitioned away from IBOR. The lecture included background from the LIBOR scandal up to the present day with case studies highlighting various different impact areas within corporate treasury and the implications for valuations and hedging.
Head of Department
Meet the Team
