1901-1902 he continued his studies at the University of Munich, 1903, he was in Vienna with a thesis on the discount and foreign exchange policy of the Austro-Hungarian Bank (1892–1902) PhD.
He served as department head, in particular on the improvement of the relations of Austria to the UK, the USA and with the successor states of the Austro-Hungarian monarchy and trade.
1930-1933 Hertz was a professor of world economy and sociology at the University of Halle-Wittenberg in Halle an der Saale (Saxony-Anhalt).
He was attacked by the Nazi regime as a "Jew, Freemason and pacifist" for his publications on issues of race and nationality.
In April 1938 he emigrated with his family to London and in 1946 he received British citizenship under the name of Frederick Hertz.