Wake Forest University Vienna: Flow House - International Finance (Summer Session 1)

Vienna is famous for music, through renowned musicians such as Mozart, Brahms, and Beethoven, who lived and worked here, and it is also home to many other wonderful artists and patrons of the arts.  Vienna’s best loved artist is Gustav Klimt, who was part of a vibrant artistic scene at the beginning of the 20th century visual art collections.  The city’s world class museums have collections that span prehistoric to contemporary art.  Vienna is a culturally diverse and vibrant city. It is home to the Vienna Boys' Choir, the famous Lipizzaner stallions, and countless coffee houses (an integral part of Viennese life). Located in the heart of Europe, students may easily travel east to the Czech Republic, Poland, and Hungary and west to France, Italy, Spain, England, and Switzerland.

In 1998, Wake Forest purchased a three-story villa in Vienna. The acquisition was made possible through the generous donation of Vic and Roddy Flow of Winston-Salem and the House was named in their honor. Built in 1898, the house was formerly the office of the U.S. Consulate.

Flow House is situated in a northwest section of Vienna, one block from the Turkenschanz Park. Located in the prestigious 19th district, the area is well-known for its embassies, diplomatic residences, and distinguished private homes.
 

ECN 252 International Finance

This course is a study of international macroeconomics from an open-economy perspective. For the first part of the class, we will focus on exchange rate theory and international markets. This material is essential for any students who wish to one day pursue a career in any part of finance. We will then move onto a historical examination of global international financial systems, with a particular focus on the gold standard and Bretton-Woods reserve currency system. The course then concludes by investigating the single European currency, and especially Austria’s experience with the euro as their own currency since 1999. 

To help us in our study, we will have invited speakers to the class, both from local universities and from the Austrian Central Bank. We will also have a field trip to the central bank’s money museum. Finally, students will participate in some of their own hands-on research by conducting surveys about the adoption of the euro from the perspective of business owners and citizens of Vienna.  
 

Dr. Sandeep Mazumder
Associate Professor of Economics
Kirby 216
Phone: (336) 758 4519
E-mail: mazumds@wfu.edu
 

Students will stay in the WFU property, the Flow House, which is situated in a northwest section of Vienna, one block from the Turkenschanz Park. Located in the prestigious 19th district, the area is well-known for its embassies, diplomatic residences, and distinguished private homes.

Flow House can accommodate sixteen students. There are five student bedrooms on the top floor. A classroom, spacious kitchen, library with state-of-the-art technology, dining room, and living room are located on the middle floor. The house is wired for Internet access and students may bring their laptop computers. A three-bedroom faculty apartment is on the first floor. The house contains separate laundry facilities for faculty and students.

The faculty director is responsible for the selection of each group based on the following criteria:

• Academic suitability
• Social and emotional maturity
• Classification
• Seriousness of the student in pursuing the academic and cultural aims of the program
• Applicability of the program to the student's interests and studies

Majors in all disciplines are eligible as long as they have met the prerequisites for ECN 252 (namely, ECN 205 and 207).

The total cost of summer study abroad can be broken down into four categories:

• Program Fee - Usually covers room, in-country travel, excursions, some meals and other costs associated with the program.
• Tuition – Students on WFU summer programs pay WFU summer school tuition per credit hour. The summer 2016 rate was $900/per credit hour. Expect a small increase for summer 2017.
• Airfare (estimated) – Varies per location. Students are responsible for their own airfare unless otherwise noted.
• Personal Expenses (estimated) – These will vary depending on the students' spending habits, cost of living in the destination country, and the number of meals included in the program fee. This may also include visa fees, vaccinations, academic supplies/books and other miscellaneous daily expenses.

Program Fee (estimated) - $3,100
Tuition (3 hrs, estimated) - $2,700
Airfare (estimated) - $1,700
Estimated Personal Expenses - $1,400
Estimated total cost - $8,900

Students may apply for scholarships through the Center for Global Programs and Studies.

http://studyabroad.wfu.edu/funding/#Summer%20Scholarship Information

Summer 2017 Resident Professor
Dr. Sandeep Mazumder
Associate Professor of Economics
Kirby 216
Phone: (336) 758 4519
E-mail: mazumds@wfu.edu

Michael Tyson
Assistant Director for Study Abroad: Summer and Short Term Programs
Center for Global Programs and Studies
116 Reynolda Hall
Phone: (336) 758 4072
E-mail: tysonmj@wfu.edu

Dr. David Levy, Ph.D
Director of Flow House
Associate Dean of the College for Faculty Governance
Professor of Music
Phone: (336) 758 5107
E-mail: levy@wfu.edu

House Address
Flow House
Gustaf Tschermakgasse 20
1190 Vienna, Austria
Phone: 011-431-367-0740
Fax: 011-431-367-1442