The Digital Economy master’s in a nutshell

We live in a world  that is changing every day, particularly in terms of how commerce and business will be done in the future. To prepare coming generations of WU students whomeet these ever-changing requirements, WU is launching the new Master’s Program on Digital Economy in the 2021/22 winter semester. But who is this program for? How does the selection process work? And what about the job prospects for graduates?

The Corona crisis has made it very clear: opportunities for businesses and society offered by digital transformation can be realized more quickly than many would have thought! Various new digital processes had to be set up on extremely short notice – not only at WU. These processes now make it possible for countless people all over the world to work from home.

Moreover, the new Master’s Program on Digital Economy will be able to take advantage of many new digital teaching, learning, and communication tools, thanks to WU’s state-of-the-art IT infrastructure. But the impact of digital technologies goes far beyond modern communication apps and social media platforms. In almost all industries, the markets are about to experience disruptive changes brought about by new digital business models, or they have already undergone such changes. At WU, it is now possible to learn the fundamental skills for managing this digital transformation.

But what do we actually mean when we talk about “digital economy”? This is how the OECD (2020) defines the concept:

“The digital economy incorporates all economic activity reliant on, or significantly enhanced by the use of digital inputs, including digital technologies, digital infrastructure, digital services and data. It refers to all producers and consumers, including government, that are utilizing these digital inputs in their economic activities.”

1) Who is the Digital Economy MSc program for?

The new WU Master’s Program on Digital Economy was created in response to the growing digitalization of today’s business world. If you’d like to find out more about how the digital economy works and want to become one of the key players who steer its future, this master’s program is for you. To help manage the digital transformation of labour and build a “digitally networked” future, it is necessary to develop and create digital business strategies, as well as entirely new business models and solutions. The possibilities are endless.

In keeping with the OECD’s broad concept of the digital economy, the new program takes an interdisciplinary approach. It’s targeted at students holding bachelor degrees in business and economics or, likewise, in IT-related fields. The program provides a broad perspective on the digital economy, that is, on all types of business activities that are made possible or enhanced by digital input, digital technologies, infrastructures, data and services. It also focuses on analyzing the roles and behavior of the players in the digital economy, i.e. the producers and consumers of digital inputs.

2) What are the application requirements?

To be admitted to the WU Master’s Program on the Digital Economy, you need to provide proof that you have completed your first degree in a relevant or equivalent bachelor’s program. Since all of the program is taught in English, you also have to provide proof of proficiency in English. More information on the admission requirements and application documents is available on the programs Web pages.

3) How does the selection procedure work?

We’ve created a short video to help you tackle the selection procedure. It’s very easy:

4) What career prospects does the new master’s program offer?

Due to the interdisciplinary nature of the program, graduates have a wide range of career options: IT consultant, data scientist, cryptoeconomics or blockchain expert, start-up founder, and many more!

The program combines technical IT expertise with solid skills in business, entrepreneurship, leadership, innovation design, and communication. It also includes Research and Industry Labs held in close cooperation with corporate partners and practitioners to prepare students for their digital careers and for implementing digital innovation based on realistic problem settings.

In summary, one of the goals of this program is to train IT-savvy pioneers who will start the leading businesses of tomorrow.

5) Where do I find further information on this master’s program?

The application period for the WU Master’s Program on Digital Economy opened on September 1, 2020. Please note the application requirements and the priority deadlines. For any further questions, please send an email to the program’s management team at: digecon-master@wu.ac.at.

Good luck on your application! We’re looking forward to seeing you at WU Vienna soon!

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