The inclusion of the study of business, economics and statistics at the University of Vienna goes back to the time of Empress Maria Theresia, who first set up a professorship in 1763 at the then faculty of law for "cameralism", the German science of administration. The discipline that arose out of this underwent many changes over the subsequent two and a half centuries; worth particular mention is the period from 1870 to 1914. During this time the University of Vienna arrived at world-wide influence as a centre for the development of new theories for economic and social analysis.

Nowadays, the Faculty of Business, Economics and Statistics consists of the departments of business administration, economics, statistics and operations research, business law, industrial sociology as well as finance and is one of the 18 faculties and centres which make up the University of Vienna. The Faculty of Business, Economics and Statistics is an internationally renowned research and education institution, in which approximately 320 staff performs research and teach and approximately 4,000 students are prepared for their future roles in academia, enterprise, the public sector, politics and charitable organisations.