In the 1st term of studying economics the students can

I n  t h e  F i e l d  B a s i c  Q u e s t i o n s  o f  P o l i t i c a l  E c o n o m i c s: 

- outline the key tasks and the subsections of political economics,

- exemplify the importance of models – for the explanation of complex economic interrelationships, 

I n  t h e  F i e l d  P r o s p e r i t y  a n d  Q u a l i t y  o f  I i f e: 

- outline the significance of GDP-growth for the prosperity of an economic system as well as

   critically reflect the limitations of this indicator for measuring the prosperity of a country (social and ecological perspective). 

- explain economic parameters. 

I n  t h e  F i e l d  E c o n o m i c  T h e o r i e s  a n d  E c o n o m i c  S y s t e m s: 

-  compare different market systems covering a spectrum ranging from free to eco-social market economy

-  exemplify the specific features of the Austrian economic system, 

-  explain the policy-makers, objectives and task fields of economic policy and

    present the possibilities for action of the individual based on examples. 

I n  t h e  F i e l d  M a r k e t  a n d  P r i c i n g: 

- illustrate the model of supply and demand and its limitations. 

I n  t h e  F i e l d  L a b o u r  a n d  S o c i a l  W e l f a r e: 

-  explain frequently used methods for the elicitation and calculation of unemployment figures, 

-  differentiate important causes of unemployment and explain as well as

   argue significant consequences of unemployment for the individual and for the society, 

-  analyze and argue the connection between causes of unemployment and the instruments designed to fight unemployment. 

I n t  h e  F i e l d  Business Cycles 

-  list the measurement parameters to define the prevailing economic conditions,

    outline the main reasons for cyclical fluctuations and describe instruments of economic policies, 

-  distinguish between supply-oriented and demand-oriented economic policy and assign individual measures to both concepts, 

In the 2nd term of studying economics the students can

I n  t h e  F i e l d  M o n e y  a n d  F i n a n c i a l  E c o n o m y: 

-  describe the stages of money development, the stages of appearance, the functions, the characteristics of money, the

    money creation process of commercial banks as well as the causes and consequences of price increases, 

-  outline the connections between monetary policy and inflation and assess important instruments of monetary policy critically, 

-  exemplify the central objectives, the tasks and organs of the European Monetary Union, its monetary policy and instruments, 

-  outline the link between the financial market and the real economy. 

I n  t h e  F i e l d  B u d g e t: 

-  outline budget preparation as well as the effects of budget policy on the long-term development of a national economy.  

I n  t h e  F i e l d  E u r o p e a n  E c o n o m y: 

-  name and explain important milestones in the development of the European Union, its most important institutions and its tasks, 

-  describe and reflect the importance of the European Union for Austria and

   see where the future challenges for the European Union will be. 

I n  t h e  F i e l d  I n t e r n a t i o n a l  E c o n o m y: 

-  explain the term, the causes of globalization and argue as well as assess the central advantages and disadvantages of globalization, 

-  outline and assess the tasks of the most important international economic organizations.