The lecture
The lectures of this course discuss possible explanations for the decisions of three actors: businesses, citizens, and politicians.

• How do businesses make decisions? For example, why do some businesses behave more ethically and environmentally consciously than others? Or why do some businesses engage in more lobbying than others?
• How do citizens make decisions? For example, why do we sometimes behave rationally and sometimes not? Or why are some social movements successful while others are not?
• How do politicians make decisions? For example, why do some politicians act according to their beliefs while others behave opportunistically? Or why do some politicians appear more competent than others?

The section

The sections analyze the behavior of the three actors (businesses, citizens, and politicians) in the context of three thematic areas (globalization, society, and environment). Important: The content differs across sections as each section examines a different combination of actors and themes. For this reason, we recommend students read the information for each section carefully in the course catalog.

• Actors and themes of this section:
  Corporations & Society as well as Citizens & Environment.
• Title of this section:
  Sociological Approaches to Economic Decision-Making
• Video for this section:
  Click here to watch a short video about the contents of the section.
• Description of this section:
  This section is concerned with how decisions in economic life are shaped by non-economic factors: decision-makers’ social embeddedness, their ideological commitments, legal institutions, and cultural representations. This topic will be explored using three case studies, focusing, respectively, on business, government, and public actors.  The first case study focuses on the interface between Corporations & Society and compares two legendary entrepreneurial figures: Henry Ford and Alfred Sloan. Drawing on recent business history research, it looks at how their ideological commitments influenced their strategic decision-making in the U.S. automobile industry in the early 20th century.  The second case study focuses on the interface between Corporations & State Actors, looking at how industrial policymakers in the East Asian countries (Hong Kong, Taiwan, and Singapore) tried to emulate the U.S. experience by creating domestic versions of Silicon Valley. It analyses how local institutional contexts shape industrial policy-making, drawing on recent scholarhsip in policy studies.  The third case study focuses on the interface between Citizens and the Environment, asking how culture, institutions, and expertise shape collective decision-making processes where people need to ascribe economic value to intangible goods (e.g., the natural environment). It looks at two prominent cases of oil spill litigation in France and the U.S., drawing on recent sociological analyses of valuation.

Upon completion of this course, students will have gained a comprehensive understanding of the central topics of the Department of Socioeconomics, particularly concerning the environmental and climate crisis, globalization, inequality, and democracy. To achieve this, the course pursues three main objectives:

1. Critically question the fundamental assumptions of economic models. Are businesses solely profit-driven, or are there other motives? Are people truly rational with exogenously given preferences? Students will gain insights into the implications if these assumptions do not hold true.
2. Develop and compare possible explanatory approaches. How can we explain situations where actors make different decisions under similar conditions? Students will learn to derive possible explanations for these puzzles, becoming familiar with various disciplinary approaches (political science, sociology, geography, history, law, economics).
3. Elaborate on the implications for the future. Students will analyze what these insights mean for their options for action. What does this imply for our future? What can we do to address current challenges?

In the lecture
Attendance at the lectures is highly recommended but not mandatory. If a lecture is missed, no explanation or excuse is required.

In the section
Attendance in the sections is mandatory. This requirement is considered fulfilled if no more than one of the seven sessions is missed. Students who are absent for the first session will be unenrolled from the course. Absences known in advance must be communicated to the section instructor via email. An absence due to health reasons (e.g., accident or illness) will not be counted as an absence if a medical certificate is provided. There are no makeup assignments for missed assignments. More details concerning attendance rules will be explained in the first session.

In the lecture
The pedagogical approach of the lecture is designed to actively engage students. Therefore, the lectures are dynamic and include a mix of lecturer’s input, interactive sections, and relevant case studies. The lectures are conducted in German.

In the section
The primary form of instruction will combine lecture and seminar format. Students will read the assigned readings before the class. Each class will open with an introductory lecture by the instructor, after which the readings will be discussed in an open manner. Student presentations will also be used as a form of assessment, upon the instructor's permission and the students' willingness. Quizzes/videos/panel discussions may also be used as needed.

Additional resources

• Instagram Account: zuwi_va
• Youtube Account: zuwi_va
• ZuWi_VA course website

Assessment

• In the lecture: Total of 25 Points + 5 Bonus Points
  • 25 Points: Final Exam
  • 5 Bonus Points: Details will be explained in the lecture
• In the section: Total of 75 Points 
  • 25 Points: Participation
  • 50 Points: two of the following three options, determined by the instructor of the section:
    • 25 Points: Creative Work
    • 25 Points: Written Assignment
    • 25 Points: Open-Question Exam

Course Grade
Students can achieve a total of 105 points. The course is successfully completed if at least 60 points are earned. The grade distribution is as follows: 60-69 points correspond to grade “4”; 70-79 points correspond to grade “3”; 80-89 points correspond to grade “2”; and 90-105 points correspond to grade “1”.

Details of the Final Exam in the Lecture

• Date: 30. Jänner 2025
  • The exam takes place during the main Exam Week. There is no flexibility in selecting the exam date.
  • The exam will be conducted online.
  • The exam duration is 60 minutes.
• Registration
  • No separate registration for the exam is required. Students are automatically registered for the final exam with the course registration. 
• Rules
  • If attendance at this session is not possible due to verifiable and serious reasons (e.g., illness, accident, bereavement), a makeup attempt is allowed in the next main exam week. Please send a (medical) confirmation to your course instructor so they can register you for the next exam week.
• Contents
  • The final exam will cover only the topics of the lectures, not those of the sections.

Prerequisites
Students must register via LPIS.

The content varies across sections as each section examines a different combination of actors and themes. Therefore, we recommend that students read the information for each section carefully in the course catalog. Choose the section that best matches your interests. Switching between sections during the semester is not possible.

It is expected that students enroll in “ZuWi Vertiefung & Anwendung” immediately following “Volkswirtschaftslehre und Zukunftsfähiges Wirtschaften” (not several semesters later).

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