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Austria Location


Austria is a little country which reached national autonomy not before the high Middle Ages. That is the reason, why the monetary history of Austria is heteronomous to a great extent. This means, that Austria often has been part of a currency area, which in some periods was based on a monetary union. Examples range from Roman times until today. With the Maria Theresien-Thaler after 1780 or with the Wiener Münzvertrag of 1857 Austria was the country of origin of such phenomena.

With Joseph Hilarius Eckhel (1737-1798) as our forefather Austria has a tradition of two and a half centuries in teaching and researching numismatics. With at least three top-class numismatic institutions Vienna today is one of the most important places in the world in numismatic research.

Department of Numismatics and monetary history of the University of Vienna.

logo of the University of ViennaBased on a tradition of numismatic teaching in Vienna since the 18th century the numismatic department of the University of Vienna is the only independent university institute in numismatics all over Europe, offering Master- or PhD-studies.

The participation in the COST-project EMU will stimulate research at our institute. Austrian monetary history in most times was not autonomous, but it was defined by the context of a kind of monetary union. This was the case when Austria was a province of the Roman Empire as well as it is nowadays as a member of the Euro area. › See letter of support (.pdf) › Website

Hubert Emmerig Ao. Univ.-Prof. Dr. Hubert Emmerig Associate professor for numismatics and monetary history (b. 1958) at the numismatic department of the University of Vienna.
Main research fields: Medieval and modern European monetary history; written sources concerning monetary history. International contacts in medieval monetary policy often produced some kind of monetary union.
The COST-project EMU deals with one of my special interests of research.

Watch this short presentation by Hubert Emmerig ›

Department of Economics of the University of Vienna.

Economics came to the University of Vienna in 1763, when Johann Freiherr von Sonnenfels was appointed professor for Cameralwissenschaft in the law faculty. After 1870 the University of Vienna became one of the centers of the emerging new economic theory. Menger, von Wieser, Böhm-Bawerk - the founding fathers of the Austrian School - were professors in the department.
After WW I the influence of this school in our department declined. One reason was that the intellectual climate in Austrian universities became rather conservative and hostile to liberal ideas, just at the time when a new generation of the Austrian School (Schumpeter, Mises, Hayek, Machlup, Morgenstern among others) were becoming more liberal in the field of economic policy and hostile to state intervention. The growing anti-Semitism in all spheres of public life also contributed to the waning influence of the Austrian School at the University. As a consequence nearly all so-called Austrians emigrated to the UK and the USA in the 1930s.
For a long period after WW II, the department remained rather closed to modern economics. Interest in modern economic theory began to increase only in the late sixties.

Today the institute is an open, research oriented department in the faculty of Wirtschaftswissenschaften, comprising the dep. of economics, business administration, finance and statistics.
The department has more than 35 scientists coming from several countries around the world. Based on publications in international journals, the department is now one of the leading economics departments among the German speaking universities. › Website

Jüergen Nautz Ao. Univ.-Prof. Jürgen NautzI teach economic history at the Department of Economics, University of Vienna.
One of my main fields of research is monetary policy in ethnically fragmented societies, esp. the monetary policy of Austria-Hungary (see: Lars Jonung/Jürgen Nautz, ed.: Conflict Potentials in Monetary Unions, Stuttgart: Steiner 2007).
EMU-COST is a useful network for interdisciplinary research and a great chance to get new insights in the dynamics of monetary integrated spaces beyond the economic theories of optimal currency areas.

Watch this short presentation by Jürgen Nautz ›

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