0204 Governance and Legal Environment
Univ.Prof. Dr. Monika Polzin, LL.M., Univ.Prof. Mag.Dr Martin Winner
Contact details
Please contact Niclas Spechtenhauser at, if you have questions regarding the first part of the course (classes 1-6 and intermediate exam). Please contact if you have questions regarding the second part of the course (classes 7-11 and final exam).
  • Type
  • Weekly hours
  • Language of instruction
11/25/21 to 11/29/21
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Day Date Time Room
Tuesday 11/30/21 01:00 PM - 03:00 PM Online-Einheit
Thursday 12/02/21 01:00 PM - 03:00 PM Online-Einheit
Tuesday 12/07/21 01:00 PM - 03:00 PM Online-Einheit
Thursday 12/09/21 01:00 PM - 03:00 PM Online-Einheit
Tuesday 12/14/21 01:00 PM - 03:00 PM Online-Einheit
Thursday 12/16/21 01:00 PM - 03:00 PM Online-Einheit
Monday 12/20/21 01:00 PM - 03:00 PM Online-Einheit
Tuesday 12/21/21 01:00 PM - 03:00 PM Online-Einheit
Tuesday 01/11/22 12:30 PM - 03:00 PM Online-Einheit
Thursday 01/13/22 12:30 PM - 03:00 PM Online-Einheit
Tuesday 01/18/22 12:30 PM - 03:00 PM Online-Einheit
Thursday 01/20/22 12:30 PM - 03:00 PM Online-Einheit
Tuesday 01/25/22 01:15 PM - 02:30 PM Online-Einheit


The purpose of this course is to introduce students early on to those key aspects of the legal framework that will be most relevant for their studies in business and economics. This will include how to organize the legal structure of a business and its governance system. Additionally, the legal context of financing a business will be explained. Furthermore, students will be made familiar with the legal framework of international business activities.

Topics covered:

  • Company Law - Basic Concepts
  • Limited Liability and Creditors
  • Management of Companies
  • Membership in Companies
  • Mergers & Acquisitions
  • Constitutional Law and Business Law
  • Development, Legal Foundations and Dynamics of European Integration
  • The EU Internal Market
  • Fundamental Rights - General Issues
  • Selected Fundamental Rights of Businesses
  • International Law and Globalisation

Learning outcomes

Upon completion of this course, students will be able to:

  • understand basic company law issues concerning the treatment of creditors, managing the business and membership in the company.
  • understand the different methods of financing a business and legal instruments by which to achieve external growth.
  • understand the process of European integration and to autonomously assess current and future developments.
  • understand current and future developments in globalisation.

Attendance requirements

While attendance is not mandatory, it is highly recommended! Students are expected to actively participate in the live sessions.

Teaching/learning method(s)

This course will be held in English as an online lecture via Zoom. The first part will be held by Prof. Dr. Winner and the second part by Prof. Dr. Polzin.

It combines the approach of a traditional lecture with interactive elements such as case studies, aiming at a thorough comprehension of the topics of the course relevant for the exams and practice.


Assessment is based on two exams: an intermediate exam (20 December 2021) covering the contents of the first half of the course (50 %) and a final exam (25 January 2022) covering the contents of the second half of the course (50 %). The exams may consist of multiple-choice as well as open questions.

To pass the course successfully you need to obtain 50 % in total.

Grading Scheme:       

  • Very Good: ≥ 87,50%
  • Good: ≥ 75%
  • Satisfactory: ≥ 62,50%
  • Adequate: ≥ 50%
  • Unsatisfactory: < 50%


1 Author: Grabenwarter, Vranes, Winner

Governance and Legal Environment

Publisher: Facultas
Edition: 2nd
Year: 2020
Content relevant for class examination: Yes
Recommendation: Essential reading for all students
Type: Book
2 Author: Armour, Enriques et al.

The Anatomy of Corporate Law: A Comparative and Functional Approach 

Publisher: Oxford University Press
Edition: 3rd
Year: 2017
3 Author: Davies

Introduction to Company Law 

Publisher: Oxford University Press
Edition: 2nd
Year: 2010
4 Author: Klabbers

International Law

Edition: 2nd
Year: 2017
5 Author: Snell

The internal market and the philosophies of market integration, in: Barnard/Peers (eds.), European Union Law

Edition: 2nd
Remarks: Page 310
Year: 2017
6 Author: Stelzer

An Introduction to Austrian Constitutional Law 

Edition: 3rd
Year: 2014
7 Author: Vranes

The Dynamics of European Integration: A Legal Perspective, in: Badinger/Nitsch (eds.), Handbook of the Economics of European Integration

Remarks: Page 478
Year: 2015

Availability of lecturer(s)

Students who have questions should personally address the convenors of the course at the end of the respective unit, if possible (as regards other queries, on the first part (class 1-6 and intermediate exam):; on the second part (class 7-11 and final exam):

Last edited: 2021-12-07