Student International Business and and Economic Diplomacy

International Business and Economic Diplomacy master degree programme

Against the backdrop of current economic and political developments, you will recognise the significance of international business relations and capitalise on them in order to achieve success on international markets.

Our two-year master programme is centred on developing broad-based, forward-looking expertise related to international management and economic diplomacy. This programme gives you managerial skills that will enable you to confidently hold your own in a competitive and constantly changing environment. The programme also comprises wide-ranging practical elements, with a focus on ongoing enhancement of soft skills and research techniques, all of which improve your employability.

The degree programme: Master of Arts in Business (MA)

International and interdisciplinary, with a strong strategic and practical focus: welcome to the International Business and Economic Diplomacy master degree programme!

Slowbalisation vs. Globalisation 4.0

Although protectionism and initiatives aimed at decentralising politics are increasingly the focus of attention, digitalisation and new business models are resulting in ever closer ties between consumers and producers.

This has enabled companies to develop new global markets and change existing ones, but it is also bringing about shifts in political, economic and social frameworks.

International Business meets Economic Diplomacy

The interplay between the core elements of the programme, international business and economic diplomacy, enables our graduates to play a part in companies’ internationalisation processes.

Thanks to their sound knowledge of international market dynamics, graduates can identify business potential, and their expertise also supports successful execution of these commercial activities through establishment of a network of key international stakeholders.

Study the international way

Studying the international way: you will be studying alongside colleagues from around the world, discussing cultures, global events and economic developments with lecturers who have an interdisciplinary, international background, and exchanging notes at guest lectures and on visits to international businesses and organisations. You also have the option of spending the fourth semester at one of our partner universities.

Tip

Do you want to strike the right balance between studying and your work commitments? Or would you prefer to have the weekends off? We offer two study-time models for this part-time master degree programme: you can attend courses either on Thursdays and Fridays, or on Fridays and Saturdays.

The programme also includes courses and excursions spread over a total of three block weeks. So the degree is perfectly compatible with professional and/or family commitments.

Our students are tomorrow’s game changers: they are open-minded, innovative, systematic and forward-looking. For them, international cooperation and diplomacy are priorities – not just as a means of promoting foreign trade, investment and innovation, but also as a way of safeguarding environmental and economic sustainability.
Programme director Alina Schoenberg

A formula for success: theoretical knowledge + practical experience

The programme is built on three pillars.

1

The core subjects

Semesters 1-3

The core subject international business focuses on internal company operations that are relevant for internationalisation processes. Courses are aimed at enhancing your prior knowledge of subjects such as international management, international finance, international employment relations and international marketing.

The strategic focus of the course contents enables you to develop your managerial skills, and to accurately assess and positively influence a company’s competitiveness in an international context.

The emphasis in the core subject economic diplomacy is on external factors that provide the framework for international economic relations, and which in turn have a significant influence on business success abroad.

Courses concentrate on domestic and foreign economic policy, as well as on investment and business promotion measures. You will look at management of business relationships with domestic and foreign companies, political institutions, international organisations and NGOs, as well as the public, with a view to building effective corporate partnerships.

Courses such as International Political Economy, International Institutions, Location Analysis and International Business Law are designed to give a clearer understanding of the dynamic interaction between economics, politics and law, and underline the role of businesses in a globalised world. The opportunities and challenges arising from internationalisation are highlighted in courses including Governance and Ethics, Economic Diplomacy and International Tendering.

2

Employability and research skills

Semesters 1-4

The topics of international business and economic diplomacy are brought together in the core subject of Employability and Research Skills.

The Skill Lab is a place where you can enhance both your hard and soft skills. For example, the Business Analytics course shows you how to understand and analyse business data from an application-led perspective, and how such data can be used to support corporate decision-making processes. The Consulting course helps you to develop the right demeanour, which is so important for managers. Meanwhile, the Negotiation Techniques and Crisis Management courses give you the skills needed to manage commercial and political negotiations in a professional manner, and show how you can contribute to boosting your organisation’s resilience in the face of crises.

You will also learn the ins and outs of diplomatic etiquette, which will enable you act appropriately when dealing with political and business partners both at home and abroad.

You can put the skills you have acquired to the test in a wide-ranging business simulation in semester 4. The Research Methodology course helps you to broaden your academic skills. The master thesis gives you the opportunity to carry out an academic analysis of a topic taken from one of the core subjects, and in turn further enhance your skills profile.

A practical focus is more than just a buzzword at IMC Krems: programme lecturers share their real-life professional experience, and problems are discussed and analysed on the basis of case studies. In addition, projects implemented in partnership with companies allow you to examine your newly acquired knowledge from a practical viewpoint.

3

The electives

Semesters 2 & 3

The core subjects, International Business and Economic Diplomacy, give you a detailed insight into the internal and external factors that have a decisive impact on the success of internationalisation processes.

In your chosen elective, you go one step further and take on the role of an expert, focusing on strategic aspects of international trade in a business context, or on international collaboration from an institutional perspective.

You can tailor your degree in line with your personal interests – the electives in semesters 2 and 3 give you all the flexibility you need.
More about the electives

Curriculum

What can you expect from your studies? The curriculum provides an overview.
Click on the individual courses for further information.

CourseSWSECTS
Strategic Management
International Management 23
Advanced International Marketing 23
International Employment Relations 23
Financial Management
Performance Management 23
Institutions and Diplomacy
Economic Diplomacy 23
International Business Law 24
International Institutions 23
Employability Skills
Business Analytics I 24
Negotiation Techniques 12
Research Skills and Master Thesis
Quantitative and Qualitative Research Methods 22
CourseSWSECTS
Strategic Management
Disruptive Business Models 23
Financial Management
International Finance 24
International Taxation 23
Political and Economic Strategies
International Political Economy 24
Location Analysis 24
Governance and Ethics 23
Elective 1: Trade Management Strategies
Business Development in Export 23
Elective 2: International Economic Relations
Foreign Policy Analysis 23
Employability Skills
Business Analytics II 24
Crisis Management 12
CourseSWSECTS
Political and Economic Strategies
International Tendering 24
Elective 1: Trade Management Strategies
Logistics and Supply Management 24
International Reporting 24
Internationa Business and CSR 24
Elective 2: International Economic Relations
European Economic Integration 24
Interest Groups and Advocacy 24
Development Cooperation and Economic Growth 24
Employability Skills
Consulting 23
Diplomatic Protocol 12
Research Skills and Master Thesis
Research Seminar: Problems and Challenges in International Business 26
Financial Management
Mergers and Acquisitions 23
CourseSWSECTS
Employability Skills
International Business Project 24
Research Skills and Master Thesis
Master Thesis 022
Master Exam 04

Electives

Choose your own focus areas. You select one of two electives on the programme. Courses are held in semesters 2 and 3.

Trade Management Strategies

Do you want to break into international markets with your products? Building on the core subjects, this elective takes you through key aspects that enable you to define a successful export strategy.

These include preparing business plans, which covers elements such as ideation, market and competitor analysis, and the export strategy. You will also study supply chain management, which gives you a clearer picture of the strategic significance of procurement, logistics and goods manufacturing.

There are also courses dealing with international accounting standards, meaning you will be in a position to handle financial reporting after you graduate.

In addition to business-related considerations, you will also gain an insight into the social responsibilities of international businesses, and learn how to develop strategies that enable your company to operate more sustainably.

International Economic Relations

If you’re looking to learn about international cooperation at an institutional level, this elective enables you to examine the factors that influence political systems, and the ways in which they do so. This puts you in a position to identify political trends and analyse the political stability of states and regions. You will investigate the role played by interest groups in political decision-making processes.

The elective also examines the process of economic and political integration in Europe. The aim is to enable you to analyse the effects of the EU’s trade and regional policies, the integration of its factor markets, monetary union and the EU expansion process.

However, the elective does not focus exclusively on Europe: the heterogeneous development of countries is an aspect of globalisation, which therefore also gives rise to options for collaboration with developing countries.

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Career paths for graduates of the International Business and Economic Diplomacy master programme

After graduating from the International Business and Economic Diplomacy master programme, you will have advanced knowledge of management, as well as expertise in economic and political analysis, and negotiating. This means you are ideally placed to perform various roles in private and public sector organisations with an international focus.

Strategic aspects are the centre of attention throughout the programme. Your interdisciplinary education allows you to assume managerial responsibility for a variety of functions.

You have the option to put your knowledge to use at an Austrian company, or to head abroad. Whichever you choose, you will have what it takes to launch an international career, and your professional experience as well as any time spent studying abroad during the programme will boost your attractiveness for prospective employers.

Or are you interested in starting your own business? The broad-based approach employed in the degree programme gives you all the tools you need to set up your own company and manage it successfully.

  • The professional areas open to graduates include
  • National and international organisations and NGOs
  • Foreign direct investment (FDI) management
  • Think tanks
  • Consulting
  • Foreign trade (import/export)
  • International marketing
  • Outsourcing/product management
  • Risk management and hedging
  • HR and employee development

10 good reasons


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Application and admissions – the next steps

You've found a course that's a perfect fit? Great – you’ve already taken the most important step! We’ve put together an overview to guide you through the next steps.

1

Admission requirements

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2

Admissions procedure

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3

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4

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5

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