Europe in 1300
Bavaria and Austria
Austria
Southern Germany flourished in the late Middle Ages. The really rich part was in southwestern Germany, in the area of Swabia and Württemburg. Further to the east was a series of counties and duchies and archbishoprics that eventually became Austria (which more or less literally means 'east land'). That transformation was due to the influence of a single family, the Habsburgs. While in 1300 the family was a parvenu, by 1500 they were among the leading families of all Europe.
In 1300 Austria was a recent prize. Rudolf I of Habsburg (or Hapsburg) had been chosen as Emperor precisely because he was weak and unimportant. His election was disputed by Ottokar II of Bohemia and the latter had been killed in battle in 1278, and so the duchy had fallen to the Habsburg family.
Because Rudolf had been so successful, the Electors pointedly did not choose a Habsburg as emperor for another century and more, and the family again became rather marginal. They kept Austria, though, and slowly added to it over the course of the 14th century. Most important of these were Carinthia and Carniola (1335) and the Tyrol region in 1363. That latter gave them some mineral wealth as well.
Bavaria
This, like Austria, was a duchy, another survivor of the old Carolingian empire. The history of its ruling house is very stable: the Wittelsbach family became dukes in 1214 and continued as dukes right down to 1918. Like Austria, too, the duchy was sometimes sub-divided within the family between a Lower and Upper region (think elevation, not north-south), but we generally don't need to be concerned with that. In another parallel with Austria, the ruling family did supply a Roman Emperor or two. In fact, Louis IV became one in 1314.
The best-known city in Bavaria is of course Munich, but that was in our period only an unimportant town, much overshadowed by Augsburg to the east and Regensburg to the north. Munich only became important when the railroad made it so. Speaking very generally, Bavaria was farm and cattle country, not a duchy of great cities.