Sustainable Economics and Business II - FDI, Political Economy, and Development Challenges

Why do some countries receive more foreign direct investment (FDI) than others? Why do workers in some countries welcome foreign investors with open arms, while protests erupt in others? Why does FDI sometimes have positive effects on economic development while is appears exploitative in other contexts?

This course seeks to answer such questions by analyzing both the causes for FDI flows as well as their economic, political, and social consequences.

Specifically, this course examines the interplay of how politics shapes FDI, and in turn how FDI affects politics.

As students work their way through these issues, they will touch upon larger sustainable development issues such as, foreign investment and inequality, multinational corporations and food security, impact of FDI policies on human development, as well as the power between firms and workers.

You can find more information about this course in the course catalogue.

Modern Societies I - Genesis, Dynamics, Cybernetics

Why do some governments use taxpayers' money to bail out private banks while others do not? Which dimensions of political and social contexts need to be taken into account for successful corporate management?

Anyone developing strategies needs a basic political understanding in order to be able to assess the future development of the business environment. This basic understanding arises from dealing with the relevant questions in times of polarisation and globalisation: What holds a society together? Why is there inequality within a population? Whose preferences are taken into account by politics?

In this course, students learn about fundamental political and social dynamics and actors and develop an understanding of how these shape social and economic policy. In this context, the role of institutions, interest groups and politicians, but also of norms, culture and power are analysed.

You can find more information about this course in the course catalogue.

Modern Societies II - Functions, Performances, Problems

It is probably important for everyone in the USA, Sweden and Austria to be healthy, but the healthcare systems in these countries differ considerably. The same applies to the labour market (‘Job security for honest workers vs. hire and fire to increase innovation?’), the regulation of the financial sector (‘Tax money for rich bankers vs. systemic importance of banks?’) or the healthcare system (‘Free treatment for all vs. private insurance system?’). How can these differences be explained? To understand one's role as a participant in a democratic society - be it as a decision-maker, voter or taxpayer - one must understand the forces and dynamics that explain these differences. In this course, students will analyse how governments make policy and why different countries find different solutions to societal problems.

In this context, students will examine various policy areas that are important for social cohesion, such as labour market policy, regulation of the financial sector or health policy.

You can find more information about this course in the course catalogue.

Alternative facts. Fake news. Derogatory labels like these are meant to call into question the validity of one’s empirical evidence or the interpretation one attaches to that evidence, or both. These labels entered the popular discourse with Trump and other populists, and are thus tools wielded to discredit political opponents. However, scientists have contemplated the logic and empirical methods of their disciplines at least as far back as the 17th century when Descartes proposed that “I think, therefore I am.” This course provides an overview of philosophical questions concerning how we can know what we know (or don’t know) as they apply to the field of political science, economics, and business.

You can find more information about this course in the course catalogue.

Sustainable Economics and Business II - Regulating Finance for Stability and Sustainability

Why do some governments bail out banks in a crisis but others do not? Why are politicians incentivised to promote the stock market and what are the implications for taxation and financing the Global Sustainable Development Goals (SDGs)? Why could financial technologies (FinTech) improve financial inclusion and reduce economic inequality?

This course seeks to answer these questions by analysing three thematic areas: banks, stock markets and FinTech.

In particular, this course will examine how policy influences finance and how finance shapes policy.

During the discussion, students will consider larger questions of sustainable development, such as how financial development affects inequality and inclusive economic growth, and how government regulation affects fairness and innovation.

You can find more information about this course in the course catalogue.

"Advanced and Applied Sustainable Economics and Business (ZuWi Vertiefung und Anwendung)" builds on the content of the StEOP course "VWL & ZuWi" and deepens the skills and competences acquired therein.

The course consists of a lecture part and an exercise part. This allows students to specialise in the "Common Body of Knowledge" (CBK) based on their personal interests.

In the three lecture units, students learn tools and concepts to better understand the decision-making processes and interactions of the three groups of actors:

• How do companies make decisions? How do they balance environmental and economic goals in supply chains and production? We examine to what extent companies take workers' and environmental interests into account and how social networks, political context and organisational cultures shape corporate behaviour.

• How do citizens make decisions? Are they more than just consumers or the "L" in a production function? Individuals' preferences are not fixed or externally predetermined, but rather shaped by their social environment. Consequently, we analyse how individuals form political identities, participate in social movements and take part in democratic processes.

• How do state actors make decisions? How do the economy and the environment affect the electoral chances of political parties? We explore the dynamic interplay of politicians with citizens and businesses in shaping regulations and laws, taking into account existing political institutions, geopolitical tensions and politicians' ideologies.

Further information on the lecture and the exercise sections can be found in the course catalogue:

• 2115 & 2141, Haas: Labour and Working Hours from a Social, Economic and Ecological Perspective

• 2116 & 2142, Gruber: From Trading Companies to Multinational Corporations

• 2117 & 2143, Wlaschütz: Discerning Minds - Decision-Making in Times of Transformation and Populism

• 2118 & 2144, Zschoche: Energy and the Just Transition in International Politics and Economics

• 2119, Diezi: Modern Societies between Socio-Ecological Crisis and Political Steering (In)Ability (only in the first half-semester)

• 2120 & 2149, Dornis: Post-growth & Well-being

• 2121 & 2156, Bettin: Impacts and Preconditions of the Energy Transition (in English)

• 2122 & 2157, Lutz: International Political Ecology: What Post-Growth and International Relations Can Learn from Each Other

• 2123 & 2159, Mo: China-EU Economic and Political Relations (in English)

• 2124 & 2154, Zhikharevich: Sociological Approaches to Economic Decision-Making (in English)

• 2125 & 2220, Zeilinger: Strategic Management of Political Decision-making Processes in the Multi-level System of the EU

• 2126/2129 & 2148/2151, Zimbalist: Sustainable International Development (auf Englisch)

• 2127, Geiger: Wachsdumm? Thinking About the Economy and Society (only in the first half-semester)

• 2136 & 2158, Scheibenpflug: How is Agency created?

• 2137 & 2153, Gerdes: Navigating Justice in the Transition to a Low-Carbon Society (in English)

• 2138 & 2147, Just: Political Economy of Drug Innovation

• 2139 & 2155, Krenmayr: Sustainability and the Car Industry in Austria

• 2140 & 2160, Saxinger: Mining Critical Raw Materials for the "green" Transition

• 2145, Sturzeis: Inequality and Sustainable Development (only in the second half-semester)

• 2146, Scholz-Wäckerle: Political Economy of Sustainability (only in the second half-semester)

• 2152, Miklin: Inequality and Sustainability (only in the second half-semester)

• 2219, Golboyz: Digitalisation and Social Policy (only in the first half-semester)

Governments pass laws to regulate the domestic banking sector or to monitor the securities markets. Governments also negotiate international rules for banks, foreign direct investment (FDI) and trade. In short, the process of negotiating and implementing legal regulations is closely linked to politics. This course offers the opportunity to learn how politics shapes the legal rules governing banks, stock markets, debt, trade and investment. For example, students examine the political considerations behind the Basel III banking agreements, how politics is involved in investor-state dispute settlement proceedings, and the politics behind international rules on trade and finance. In this context, the course also discusses the ethical and moral dilemmas associated with finance. Should multinational companies be allowed to sue governments if they pass environmental laws that affect the company's profitability? Should bondholders sue the Argentine government for repayment, even if this could restrict social policy? This course is aimed at students with an interest in law, economics and politics. Students will gain a basic understanding of the relationship between national and international law and how political dynamics link both dimensions.

You can find more information about this course in the course catalogue.

Sustainable Economics and Business II - Navigating Trade and Politics for Sustainable Development

Why do some countries favour protectionist trade policies while others are in favour of free trade? Why does trade affect domestic labour markets and economic inequality within countries? Why do tariffs favour emissions-intensive industries? This course aims to answer these questions by analysing the interplay between the influence of politics on trade and the influence of trade on politics. Specifically, students will examine how citizens, businesses, politicians and international organisations shape trade policies and how trade in turn influences sustainable development issues such as inequality, inclusive economic growth and climate change.

You can find more information about this course in the course catalog.

Sustainable Economics and Business II - Sustainable International Development

What explains the range of economic development outcomes across countries? What is driving rising inequality within many developed and middle-income countries such as the U.S., China, and India?

This course seeks to answer these questions by examining concepts, theories, policies, practices, and global transformations in international development, from both historical and contemporary lenses.

Specifically, the course examines the interplay of how politics affects development and how development shapes politics.

During our discussion, students will explore different perspectives on the core challenges and proposed solutions to alleviating poverty and engendering sustainable development. The course will also pay close attention to the social and ecological implications of different development trajectories.

You can find more information about this course in the course catalog.

Why are some countries wealthier than others? Why are some countries democratic while others are authoritarian? Why do some democracies redistribute more than others? How do the forces of globalization shape national (and subnational) politics and policymaking? Why do certain policies designed to promote political or economic development succeed when others fail?

This course addresses these questions by applying key theories and concepts in comparative and international political economy to real-world country cases. Specifically, the course examines the interplay between politics and economics, exploring its effects at the local, national, and global level. In line with the ethos of the Master’s in Socioeconomics program, we will endeavor to design feasible policy solutions to complex problems in particular contexts.

You can find more information about this course in the course catalog.

This might be the most important course you take during your college career. If you want to change the world, you will need to learn how to communicate messages accurately, correctly, and persuasively. However, how do we change the dominant narrative on a particular issue? How can we convince someone to change their opinion? How can societal organizations ensure that their voices are heard?

To answer the questions above, this course offers an introduction to the techniques and types of non-academic writing (In contrast to "IRWCPC I," which focuses on academic writing). We will first discuss under what conditions we can change narratives or convince others, and subsequently examine how specific types of non-academic writing can help us accomplish the task. Specifically, you will be introduced to different kinds of memos and public relations communications, as well as several types of official reports. Importantly, communicators in the public realm must focus on purpose, audience, and style - foci that are different than typical academic writing that students may be familiar with. This course will help you develop a thorough awareness of the intended audiences and the necessary elements of effective communication with that audience. In addition, we will encourage thoughtful document design to facilitate comprehension, readability, and usability.

For more information about the course, see the course catalog: For Course 5489 and for Course 5490.

"Advanced and Applied Sustainable Economics and Business (ZuWi Vertiefung und Anwendung)" builds on the content of the StEOP course "VWL & ZuWi" and deepens the skills and competences acquired therein.

The course consists of a lecture part and an exercise part. This allows students to specialise in the "Common Body of Knowledge" (CBK) based on their personal interests.

In the three lecture units, students learn tools and concepts to better understand the decision-making processes and interactions of the three groups of actors:

• How do companies make decisions? How do they balance environmental and economic goals in supply chains and production? We examine to what extent companies take workers' and environmental interests into account and how social networks, political context and organisational cultures shape corporate behaviour.

• How do citizens make decisions? Are they more than just consumers or the "L" in a production function? Individuals' preferences are not fixed or externally predetermined, but rather shaped by their social environment. Consequently, we analyse how individuals form political identities, participate in social movements and take part in democratic processes.

• How do state actors make decisions? How do the economy and the environment affect the electoral chances of political parties? We explore the dynamic interplay of politicians with citizens and businesses in shaping regulations and laws, taking into account existing political institutions, geopolitical tensions and politicians' ideologies.

Further information on the lecture and the exercise sections can be found in the course catalogue:

• 5995 (Haas): Labour and working hours from a social, economic and ecological perspective

• 5996/6047 (Ware): Sustainable City

• 5997/6000 (Peer): Sustainable Mobility

• 5998/6001 (Kolcava): The Political Economy of International Trade and Supply Chains

• 5999/6004 (Litschauer): The Housing Crisis from a Social, Economic, and Political Perspective

• 6002 (Golboyz): Digitalisation and social policy

• 6003/6046 (Scholz-Wäckerle): Political economy of sustainability

Detailed information on the new course series can also be found on our information page Advanced and Applied Sustainable Economics and Business (ZuWi-VA).

Modern Societies I: Genesis, Dynamics, Cybernetics

Why do some governments use taxpayers' money to bail out private banks, while others do not? Which dimensions of political and social contexts need to be taken into account for successful corporate management? Anyone developing strategies needs a basic political understanding in order to be able to assess the future development of the business environment. This basic understanding arises from an examination of the relevant questions in times of polarisation and globalisation: What holds a society together? Why is there inequality within the population? Whose preferences are taken into account by politicians?

In this course, you will learn about fundamental political and social dynamics and actors and develop an understanding of how they shape social and economic policy. In this context, we will analyse the role of institutions, interest groups and politicians, but also norms, culture and power. The course is aimed at students who want to combine economics with politics. Please note that courses I and II are linked in terms of content. Course I provides an introduction to the different explanatory approaches, course II offers the opportunity to apply these explanatory approaches to specific policy fields.

You can find more information about this course in the course catalog.

Modern Societies II: Functions, Performances, Problems

It is likely important for all people in the USA, Sweden, and Austria to be healthy, but the healthcare systems in these countries differ significantly. The same applies to the job market ("Job security for honest workers vs. Hire and Fire for innovation strength?"), the regulation of the financial sector ("Tax money for rich bankers vs. Systemic relevance of banks?"), or the healthcare system ("Free treatment for all vs. Private insurance system?"). What explains these differences? To understand the role as a participant in a democratic society - whether as a decision-maker, voter, or taxpayer - one needs an understanding of the forces and dynamics that explain these differences. In this course, you will analyze how governments make policies and why countries find different solutions to societal problems.

In this context, we will examine several policy areas that are essential for societal cohesion, such as labor market policy, regulation of the financial sector, or healthcare policy. The course is aimed at students who want to connect economics with politics. Please note that Courses I and II are connected in content. Course I provides an introduction to different explanatory approaches, while Course II offers the opportunity to apply these explanatory approaches in specific policy areas.

You can find more information about this course in the course catalog.

Sustainable Economics and Business II - Trade, Politics, and Sustainability

Why do some countries favor protectionist trade policies while others embrace free trade? Why are some industries heavily subsidized by governments to compete in international markets while others are not? Why does trade impact domestic job markets and economic inequality within countries?

This course seeks to answer such questions by analyzing the interplay of how politics affects trade and how trade shapes politics. Specifically, we will investigate how citizens, corporations, politicians, and international organizations shape trade policies and how trade influences sustainable development issues such as inequality, inclusive economic growth, and climate change. 

You can find more information about this course in the course catalog.

"Advanced and Applied Sustainable Economics and Business (ZuWi Vertiefung und Anwendung)" builds on the content of the StEOP course "VWL & ZuWi" and deepens the skills and competences acquired therein.

The course consists of a lecture part and an exercise part. This allows students to specialise in the "Common Body of Knowledge" (CBK) based on their personal interests.

In the three lecture units, students learn tools and concepts to better understand the decision-making processes and interactions of the three groups of actors:

• How do companies make decisions? How do they balance environmental and economic goals in supply chains and production? We examine to what extent companies take workers' and environmental interests into account and how social networks, political context and organisational cultures shape corporate behaviour.

• How do citizens make decisions? Are they more than just consumers or the "L" in a production function? Individuals' preferences are not fixed or externally predetermined, but rather shaped by their social environment. Consequently, we analyse how individuals form political identities, participate in social movements and take part in democratic processes.

• How do state actors make decisions? How do the economy and the environment affect the electoral chances of political parties? We explore the dynamic interplay of politicians with citizens and businesses in shaping regulations and laws, taking into account existing political institutions, geopolitical tensions and politicians' ideologies.

Further information on the lecture and the exercise sections can be found in the course catalogue:

• 6265/6304 (Wlaschütz): Discerning Minds - Decision-Making in Times of Transformation and Populism

• 6266 (Gruber): From Trading Companies to Multinational Corporations

• 6305 (Zhikharevich): Sociological Approaches to Economic Decision-Making

• 6306 (Saxinger): Mining Critical Raw Materials for the "green" Transition

• 6307/6308 (Krenmayr): Sustainability and the Automotive Industry in Austria

• 6309/6310 (Diezi): Modern Societies between Socio-Ecological Crisis and Political Steering (In)Ability

• 6311 (Raeskyesa)

• 6312/6313 (Mo): China-EU economic and political relations

Detailed information on the new course series can also be found on our information page Advanced and Applied Sustainable Economics and Business (ZuWi-VA).