Subject areas in economics studies
At the University of Graz, internationally renowned researchers are primarily concerned with the following topics, which are also incorporated into teaching:
Environmental economics: What measures can be taken to mitigate climate change and what are their economic repercussions? How can the negative economic effects of climate change be reduced? Why do international agreements (such as Kyoto or Paris) not work particularly well? What effects do current extreme weather events have on local economies?
International economics: What makes a region successful in international competition? What role do organizations such as companies and banks play and what role do markets play in the international division of labour? How do environmental regulations influence international trade?
Macroeconomics: Why are some countries so much richer than others? What are the key drivers of economic growth? We are much richer today than we were 40 years ago - why are we not happier?
Price indices and real estate markets: What is the long-term impact of AirBnB on rental prices? How can bubbles in the real estate market be recognized and avoided? How do rising real estate prices affect the inflation rate and monetary policy? How can real estate be valued using machine learning methods? How can real incomes be compared between different countries?
Econometrics and empirical economic research: How can economic theories be tested empirically? What data and methods are necessary for this? How can causal relationships be measured with non-experimental data? How can future economic development be predicted using statistical methods?
Decision theory and game theory: How can cooperation between people arise when cooperation goes against immediate self-interest? How should decisions be made under various forms of uncertainty? How do people really make these decisions? What influence does radical uncertainty have on stock prices and on the investment decisions of individuals?
Mechanism design and market creation: Why does Google use auctions to sell search terms to advertisers? How can you create a functioning distribution outside of markets and prices? For example, how can you provide more patients with kidney failure with donor kidneys? How can reallocation decisions (e.g. from forest to building land) be made as efficiently as possible?
