210005 VO BAK 2 subject area Politics and Economy Politics and Economy (2023S)

The course starts with a brief presentation of the current economic situation in Austria and Europe. It will continue by introducing the main schools of economic thinking from classical economics (Smith and Marx), to neoclassical economics, Keynesian economics, Austrian school, Polanyi and Piketty). The second part of the course will start with an introduction into the main economic policy making institutions of Austria and the European Union. The main goals and fields of economic policy making will be dealt with in the last part of the course: GDP, labour market, distribution of income and wealth, public sector, taxes and expenditures, inflation.