Our History

This year, a prominent figure from the political arena, Federal Minister Christoph Wiederkehr, surprised guests at the Austrian Business Education Convention at WU Wien.

The program which can also be found on the event's website featured presentations on current topics such as artificial intelligence (AI), financial literacy and issues related to vocational training and business education students.

Just two years after its inauguration, the Center for Financial Education became the Competence Center for Financial Education, which brings together the expertise in financial education from several departments at WU Wien. The director of the Competence Center for Financial Education is Julia Riess and Bettina Fuhrmann serves as its academic director. Both are from the Institute for Business Education at WU Wien.

One of the most important projects of the newly established Center for Financial Education are the financial education coaches in (Viennese) schools.

Bettina Fuhrmann places particular emphasis on integrating practical training phases into educational programs and on developing innovative teaching methods. She promotes collaboration with international institutions and participation in international research projects. Under her leadership, the institute remains committed to teacher training, research, and public education initiatives to meet the challenges of the modern economic world. By promoting financial education - particularly through the establishment of the Competence Center for Financial Education - the institute aims to provide all people in Austria with a better understanding of economic interrelations and to prepare them for future economic challenges.

The new address is Welthandelsplatz 1, 1020 Vienna, Building D2, Entrance B, 1^st floor, on the edge of the Vienna Prater and is easily accessible by public transportation via the U2 subway line (Messe-Prater or Krieau stations) as well as tram line 1.

Even though many students work while pursuing their studies, the part-time master’s program in Business Education differs significantly from other programs.

Through the use of distance learning phases, the concentration of in-person sessions during the semesters and timely communication of the schedule for the upcoming semester, the program is designed to allow students to balance their studies with their professional careers as effectively as possible. For this reason, only 30 students can be admitted to the part-time track each year; the program is designed to target (for more information)

• teachers of business subjects at BMHS with at least 8 teaching hours per week, or

• individuals with at least five years of professional experience following a full-time degree program who will remain employed during the master’s program.

Under Josef Aff's leadership, the following developments, among others, take place at the Institute for Business Education at WU Wien:

• Integration of the practical phase into the degree program in the sense of a single-phase training (therefore five instead of four semesters - graduation with "teaching qualification").

• Graduation with a Master of Science (not a Master in Education) to ensure compatibility with WU degrees and to promote polyvalence (professional employment options beyond schools).

• Adding a "Business Eduation flavor" to the bachelor's degree program by offering the specialization "Business Training & Education Management", now known as "Business Training"

• Establishing a Business Education degree program for working professionals ("career changer offer") for future BMHS teachers

• Initiation of annual Business Education Conventions - alternating at all four BE locations in Austria - to institutionalize a disciplinary scientific discourse as well as the organization of Conventions for Didactics of Business Education at the Vienna location every two years to promote a practical dialogue with BMHS teachers.

• Realization of EU educational cooperation projects with other EU member states to promote economic education in transition countries (Bulgaria, Russia, Central Asia, etc.).

• Emphasis on subject-specific didactics in the master's program

• Curricular incorporation of economics in the BE master's program (core subject and free elective) because this subject contributes significantly to addressing ethical, ecological and economic policy issues and is able to make a significant contribution to reflection and education.

The main reason for this one-semester extension is to allocate even more time to the practical school phase - the so-called Supervised Teaching Practicum - within the single-phase training program. This reform defines the curricular framework for Austrian business education until the 2002 university reform. Traces of this shift in thinking are also reflected in the restructuring of the degree program in accordance with the Bologna Process. A master’s program in business education at WU Wien lasts five semesters, while all other master’s programs have a standard period of study of four semesters.

The new address of WU Wien is Augasse 2 - 6, 1090 Wien and the best way to get there by public transport is by taking tram line D.