Economics and Finance
Course content of the VGSE
Vienna Graduate School of Economics (VGSE)
VGSE offers a competitive program to the best available students internationally.
For further details, please visit the University of Vienna.
Brief description of the educational program
Over the course of the three-year PhD program there are almost two years for proper research and a little more than one year for course work and research training (in total 70 ECTS - European Credit Transfer System- points). The 70 ECTS points are spread over the three years of studies in the way depicted in the table below. The remainder of 110 ECTS is for research on the dissertation.
The educational part of the program consists of three elements: further deepening of the students’ knowledge in selected field courses (35 ECTS points), acquiring the skills essential to do research and report the results of the research activity (5 ECTS points), and active and passive participation in research seminars (30 ECTS points). Each of these elements is described in more detail below. Apart from these official courses, students are expected to attend a research seminar with external speakers (the Research Seminar in Economic Theory and/or the Econometric Research Seminar that have been co-organized by the University of Vienna and IHS for many years) that give students and faculty an overview of current trends in economic research.
Research Seminar
One of the more difficult phases for any PhD student is to make the transition from doing the course work to being an active contributor to the scientific community. It is important that students are intensively supervised while making their first steps in the direction of becoming an independent researcher. It is also important that students actively communicate with each other and learn from each other. For these reasons, each of the three core areas (microeconomics, macroeconomics, and econometrics) of the VGSE organizes a research seminar that runs every semester. Depending on their research interests, students choose to participate in one or two research seminars. Each seminar meets biweekly and students and faculty members present their research work in progress.
The seminar is part of the teaching schedule. All professors (not only the supervisors) active in these areas are present and so are all students in the area of their choice. Students see what other students present and see the progress in their work. The familiarity with the work of other students makes it possible to also intensively interact outside the seminars.
It cannot be stressed enough and we make sure that students take advantage of the fact that they can discuss their research with all related faculty members of the VGSE, also at an early stage of their ideas. One important way of doing so is through the presentation of their work in the research seminars organized.
Field Courses
Every year each of the three key areas organizes courses of 5 ECTS each and that students choose in their first year 5 courses in 2 areas that are close to their research interests. Given the fact that students that are selected into the program are already familiar with the core in the three subject areas, there are no strict obligatory courses. To stimulate interaction between students of different cohorts and to guarantee that students of later cohorts remain in close collaboration with the activities of the Vienna Graduate School of Economics, students in their 2ndand 3rd year also have to follow some field courses. VGSE regularly invites guest professors to teach field courses. The specific list of field courses that will be taught in a year will change over the years due to the fact that not all faculty members will teach every year and due to the presence of different guest professors over the years.
VGSE offers a competitive program to the best available students internationally.
For further details, please visit the University of Vienna.
Brief description of the educational program
Over the course of the three-year PhD program there are almost two years for proper research and a little more than one year for course work and research training (in total 70 ECTS - European Credit Transfer System- points). The 70 ECTS points are spread over the three years of studies in the way depicted in the table below. The remainder of 110 ECTS is for research on the dissertation.
| Course work | Skills course |
Research seminars | Total | |
| Year 1 | 25 (= 5*5) | 5 | 10 | 40 |
| Year 2 | 5 (= 1*5) | 10 | 15 | |
| Year 3 | 5 (= 1*5) | 10 | 15 | |
| Total | 35 | 5 | 30 | 30 |
The educational part of the program consists of three elements: further deepening of the students’ knowledge in selected field courses (35 ECTS points), acquiring the skills essential to do research and report the results of the research activity (5 ECTS points), and active and passive participation in research seminars (30 ECTS points). Each of these elements is described in more detail below. Apart from these official courses, students are expected to attend a research seminar with external speakers (the Research Seminar in Economic Theory and/or the Econometric Research Seminar that have been co-organized by the University of Vienna and IHS for many years) that give students and faculty an overview of current trends in economic research.
Research Seminar
One of the more difficult phases for any PhD student is to make the transition from doing the course work to being an active contributor to the scientific community. It is important that students are intensively supervised while making their first steps in the direction of becoming an independent researcher. It is also important that students actively communicate with each other and learn from each other. For these reasons, each of the three core areas (microeconomics, macroeconomics, and econometrics) of the VGSE organizes a research seminar that runs every semester. Depending on their research interests, students choose to participate in one or two research seminars. Each seminar meets biweekly and students and faculty members present their research work in progress.
The seminar is part of the teaching schedule. All professors (not only the supervisors) active in these areas are present and so are all students in the area of their choice. Students see what other students present and see the progress in their work. The familiarity with the work of other students makes it possible to also intensively interact outside the seminars.
It cannot be stressed enough and we make sure that students take advantage of the fact that they can discuss their research with all related faculty members of the VGSE, also at an early stage of their ideas. One important way of doing so is through the presentation of their work in the research seminars organized.
Field Courses
Every year each of the three key areas organizes courses of 5 ECTS each and that students choose in their first year 5 courses in 2 areas that are close to their research interests. Given the fact that students that are selected into the program are already familiar with the core in the three subject areas, there are no strict obligatory courses. To stimulate interaction between students of different cohorts and to guarantee that students of later cohorts remain in close collaboration with the activities of the Vienna Graduate School of Economics, students in their 2ndand 3rd year also have to follow some field courses. VGSE regularly invites guest professors to teach field courses. The specific list of field courses that will be taught in a year will change over the years due to the fact that not all faculty members will teach every year and due to the presence of different guest professors over the years.
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