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Wait, I have classes?

By Ty Malcolm

Vienna University of Economics and Business

After a month straight of traveling and making friends, it is finally time to slow down a bit and go to class.

My courses

  • International Financial Management (valuation, portfolios, trading)
  • International Energy Strategies (investment projects, M&A for energy companies)
  • Corporate Finance (canceling this one, it overlaps too much with the first two!)
  • Multinational Corporations and Political Markets (lobbying, taxes, regulations)
  • Market and Business Evaluations for Siemens Austria (market research, consulting)
  • CEE Growth in Context (central European economic conditions)
  • German Business Communication (exactly what you think it is)

GW allows you to transfer 17 credits back from study abroad. Since our credits are worth half an ECTS credit, that means I can take 34 ECTS credits back to GW. Some classes are 4 ECTS but most are 6, so GW will accept 5 of my seven six courses. It doesn't really bother me that I won't get credit for one course... I can't imagine GW finding a course equivalent for my healthcare market research in Russia and Azerbaijan for Siemens, but I want to continue in that course, so I'm OK with not getting credit. The other courses will count as various IBUS courses at GW, which fit perfectly with my Elliott School concentration in International Economics. The German course will almost complete my German minor.

First Week, First Impressions

I think the biggest change for me is going from [economics] at GW to [finance][business][consulting] at the WU. I don't have a prior background in finance, so every day is new and interesting. There are a lot of accounting principles that I have to google during class, but it's never too complicated. It is a very positive challenge - the professors are always willing to explain in more detail or do another example problem.

The energy industry, at least, is something I have experience in. At GW, IAFF 3190/IBUS 4900 Oil: Industry, Society, Economy with Prof. Weiner was the perfect overview of the industry, its major players and factors, and some of the challenges unique to energy and oil in particular. So my WU course on energy strategies seems to pick up where that course left off, with the business decisions of energy firms regarding investing in new projects and merging together. If the professor is late, it is only because he was actually working on  actual mergers and acquisitions for his employer, OMV, one of the largest industrials on the Austrian stock exchange.

Even with so many finance courses, I couldn't give up economics completely! My course on Central European seems really interesting, and I have that with my friend Tomas from the Netherlands. According to the World Bank, the CEE countries grew an average 3.4% in comparison to the OECD average of 2%, and a world average that was even lower. Austria serves as the economic gateway to these countries - for example, Siemens' HQ in Vienna is responsible for their operations in 18 countries in eastern Europe, the Balkans, and the Caucasus.

Academic Culture in Austria

In general, Austrian students tend to be more laid-back about academics and career searching than American students. Their view of Americans as cutthroat, "stay up all night" students jostling towards the workforce definitely has evidence behind it. For many Austrians, classes are what you do when you aren't living your life - partying, traveling, hiking, or visiting a fashion show. The Austrians themselves will joke about being lazy or not wanting to work "too hard." So in that way, they are more laid-back than American students.

Academic Culture at the WU 

The WU is a big exception to my generalization about the Austrians. As business is one of the most "Americanized" fields of study, the students' courses and ambitions align more closely with those of American students across the Atlantic. Just like students at GW, WU students are starting businesses, searching for internships, putting on events for politicians and researchers, etc. Students who like the ambition and international orientation within the GWSB will definitely feel at home at the Vienna University of Business and Economics.