University of Luxembourg, Faculty of Law, Economics and Finance

Introduction

The Faculty Law, Economics and Finance, University of Luxembourg includes three disciplines offering exceptional academic programmes and conducting rigorous research activities. The Faculty is an evolution from the departments of law and economics of the former University Centre (Centre Universitaire), the predecessor to the University of Luxembourg.

The FDEF consists of three research units, originally established as part of the Gabriel Lippmann Public Research Centre (Centre de Recherche Public Gabriel Lippmann), evolving to include today's Luxembourg School of Finance.

This Faculty offers 6 Master degrees, 3 Bachelor degrees and two professional programmes.

Law

Research in Law are conducted by the Laboratoire de Droit Economique, whose research activities focus on financial and business law, and the Centre de Droit Européen .

The academic offer is currently composed by:

- A Bachelor en droit

- Three Masters focused on European Law:

  • Master en droit européen – LL.M .
  • Master en droit économique européen - LL.M .
  • Master en droit financier européen et international - LL.M

- A supervision programme for PhD students

Economics

Research activities in Center of Research in Economic Analysis (CREA) concentrates on:

  • Economic integration: competition, attractiveness in small economies
  • International finance
  • Economic development: growth, agglomeration effects, and sustainable development



Education programs include

  • Academic Bachelor in Economics
  • Professional Bachelor in Management
  • Master in Economics and Finance
  • Diploma for additional training in auditing and accounting
  • Doctoral Training Program

Finance

The Luxembourg School of Finance (LSF) is the Department of Finance of the Faculty of Law, Economics and Finance of the University of Luxembourg. The LSF’s mission is to offer education programmes and conduct academic research in finance at the highest level. It strives to attract outstanding individuals as students and faculty, and to create an environment of excellence.

Since its inception in 2003, over 250 students of over 30 nationalities have completed the MSc in Banking and Finance programme. Offered on a one-year full-time or two-year part-time basis, the programme is ideal for students having a previous degree in finance or related field, as well as for professionals seeking to obtain a greater theoretical foundation in finance to support their career objectives.

The MSc in Banking and Finance represents exceptional value. In addition to a comprehensive curriculum, it features renowned professors from both the LSF and partner universities such as INSEAD and the New York University (NYU) Stern School of Business. A tailor-made Residential Academic Week at NYU Stern School of Business is an important part of the programme and greatly enjoyed by students.

The LSF is closely tied to the Luxembourg Financial Centre, with on-going partnerships in research, internships and student placement, and events of academic and professional interest.The Financial Centre participates in the LSF’s governance and supports the LSF in many different forms.

This school offers programs in:
  • English

View MSc » View master programs »

Programs

This school also offers:

Master

Master in Accounting and Audit (académique)

Campus Full time 4 semesters September 2016 Luxembourg

The academic Master programme in Accounting and Audit has been developed in partnership with leading academics and practitioners. The programme offers scientifically based in-depth knowledge of all specialist areas that are relevant to the field of accounting and auditing, without neglecting the practical relevance of the teaching content or the preparation of candidates for the job market. [+]

The academic Master programme in Accounting and Audit has been developed in partnership with leading academics and practitioners. The programme offers scientifically based in-depth knowledge of all specialist areas that are relevant to the field of accounting and auditing, without neglecting the practical relevance of the teaching content or the preparation of candidates for the job market. Students completing the degree course acquire the expertise to solve practical problems on a scientifically sound basis. To become a statutory auditor in the European Union and a réviseur d’entreprises in Luxembourg candidates attain university entrance and achieve theoretical knowledge of subjects relevant to statutory audit and the ability to apply such knowledge in practice. Candidates aiming to obtain the professional qualification of réviseur d’entreprises will comprehensively have completed the theoretical stage of their training on a high academic level when they graduate. Auditors play a role in society as a whole. Therefore, a responsible approach in this profession is of great importance. The Master's foundations for working responsibly are already laid as part of the degree course. The teaching provided must offer a balance of theoretical, research and practical aspects in training auditors. Stringent requirements in terms of the comprehensive development of the required social skills are paramount and knowledge must be conveyed in the core specialist subjects of accounting and auditing as well as the supplementary specialist subjects (law, IT and computer systems, business studies and economics, corporate finance, mathematics and statistics) with the following structure: Basic knowledge: students know basic definitions and can express the prevailing opinion. Comprehension: students are able to order their knowledge and present it systematically as well as recognise problems. Application: students are able to apply the knowledge they have gained and prepare their own calculations and interpretation. They are able to assess individual cases appropriately and evaluate the findings. Analysis: students are able to recognise complex problems and analyse these on the basis of the experience they have gained. Synthesis: students are able to intervene in processes with corrective measures, develop new procedures and propose improvements. This also includes the ability to present their own performance adequately and develop it towards finding a solution. Evaluation: students are able to make a judgement, contemplate comparisons and draw accurate conclusions. They are also able to make forecasts and justify their statements. Contemporary teaching and learning arrangements are applied: The course does not therefore stop at pure knowledge transfer, but promotes independent problem solving, reflection, evaluation, analysis and the synthesis of specialist areas. Individual and high-quality support of students by lecturers is very important on this course. This is partly ensured by the low intake number of only 25 students per batch. Faculty is composed of Academics from the University of Luxembourg, in particular from the Faculty of Law, Economics and Finance, and from abroad. Professionals from Luxembourg and abroad (accountants, auditors, lawyers etc.) Why study Accounting and Audit at Uni.lu? The low intake number of only 25 students per batch enables students to participate in discussions. Courses do not therefore stop at pure knowledge transfer, but promote independent problem solving, reflection, and evaluation. In addition, it guarantees an excellent support by the academic director and the administration. The business environment of the programme is unique. Luxembourg plays a sophisticated key role in the world financial system: the country’s fund administration sector is the second largest worldwide, the private banking sector is the largest in Eurozone, and is ranked sixth in the world. This provides students with a wide range of excellent opportunities to apply their gained academic knowledge directly into practice. The programme offers an exquisite combination of research based seminars and courses hold by experienced professionals coming directly from the business and financial sector: in 2012 and 2013 leading managers from Deloitte and Ernst & Young provide students with insights from today’s business challenges. In the Accounting and Audit degree course at the University of Luxembourg, scientific and applied training do not therefore conflict, but complement each other. Both the content and the composition possess a strong international orientation: Academics come from top universities located in the U.S. Germany, France, and other European Countries. Students who started in 2012 come from Luxembourg, Italy, Sweden, Greece e.g. Career opportunities This Master's programme offers advantages in terms of subsequently starting a professional or academic career, mainly because many relevant companies and important organisations are based in Luxembourg. Leading international accounting, auditing and tax firms maintain key branches in Luxembourg. The Master in Accounting and Audit offers graduates direct opportunities for an international research career. Graduates will be qualified for careers in various sectors: Accounting firms Tax advisers Consultancy companies Industrial companies Banks and insurance companies in the field of external/internal accounting and/or the financial management of the relevant company European Court of Auditors National courts of auditors Financial administration Academia Semester 1 & 2 During the first two semesters, students acquire basic knowledge, comprehension and application skills in accounting and auditing.These are the core specialist subjects.Students are expected to transfer the knowledge acquired in accounting and auditing and their method expertise in the form of dissertations (e.g., seminar projects). These need to be completed regularly throughout the entire duration of the course. Additionally, basic knowledge, comprehension and application skills are conveyed in the first two semesters of the studies regarding the supplementary specialist subjects.These are mathematics, statistics, corporate finance and law. Semester 3 & 4 During the semesters 3 and 4, specialist and detailed knowledge in the core specialist areas of accounting and auditing is conveyed and analysis, synthesis and evaluation are promoted. Courses are offered in the supplementary specialist subjects of IT and computer systems, business studies and economics. The culmination and conclusion of this stage of the studies is the Master thesis. Target group Students who wish to specialise in the field of accounting and auditing and aim for a career in finance or accounting/auditing or the financial management of companies. Students with a first degree in business studies, economics, law or mathematics who wish to obtain the professional qualification of réviseur d’entreprises. The Master offers optimum preparation for this professional qualification, as the teaching content required by the legislator for the theoretical part of the training is comprehensively implemented. In addition, the formation complémentaire des réviseurs d’entreprises is integrated. Students who want to become an auditor in another EU member state. The Master's programme provides optimum preparation for the professional aptitude test (often also called “audit exam”) in the relevant member state. Students who intend to pursue a career in research in the field of accounting and auditing, as the Master attaches particular importance to research-based education and therefore provides optimum preparation for a subsequent doctorate. Entry requirements First degree qualifying for working in the fields of business studies, economics, law, and mathematics (e.g., Bachelor, diploma or Staatsexamen) corresponding to a minimum of 180 ECTS, or completed equivalent, recognised level of education corresponding to a minimum of 180 ECTS. Proof of excellent written and oral English language skills (B2) is also required. As part of the application process for the Master’s degree course in Accounting and Audit, all applicants have to complete an entrance examination [-]

Master in Economics and Finance

Campus Full time 4 semesters September 2016 Luxembourg

This Masters is aimed at students wishing to obtain a comprehensive and sound education in finance. The course highlights the largely complementary nature of theoretical analysis tools and their application in business. In addition to the courses taught by the Professors of the University, seminars are run by professionals who are active in Luxembourg’s financial sector. [+]

This Masters is aimed at students wishing to obtain a comprehensive and sound education in finance. The course highlights the largely complementary nature of theoretical analysis tools and their application in business. In addition to the courses taught by the Professors of the University, seminars are run by professionals who are active in Luxembourg’s financial sector. Presentations of companies that offer work placements for students are also scheduled. The course is conducted over 4 semesters (full-time).The first year of the Masters (60 ECTS) consists of the fundamental topics of financial economics. The second year of the Masters (60 ECTS) comprises in-depth courses in economics and financial techniques as well as either a work placement or time to prepare a thesis. The course is taught in both English and French. Objectives In the field of finance there is strong complementariness between theoretical analysis and its applications. The goal of the course is to enable students to adapt to the rapid changes in the financial sector and to make them familiar with the tools derived from the latest research. Learning outcomes The programme highlights the substantially complementary nature, in the field of finance, between the theoretical analysis and their application in business. It offers students a training course that enables them to adapt to the rapid changes in the financial sector by applying knowledge and tools derived from the latest research. The sound technical and institutional know-how gained from this education program enables our graduates to benefit from a high level of employability in large public institutions (such as Luxembourg’s Commission de Surveillance du Secteur Financier [financial regulator], the country’s Central Bank) or private institutions active in the Luxembourg’s financial sector (for instance, asset management and wealth management, hedging, insurance, private banking). The follow ups opened up by this Masters are among others: Doctorate Management position in the financial, banking or insurance sectors Target audience and conditions of admission The Masters is accessible to students who hold a Bachelor degree in economic science, management, mathematics as applied to social sciences, or an equivalent diploma worth 180 ECTS. Students who are admitted to the Masters are selected on the basis on their application by a panel consisting of full-time teachers involved in the Masters. The assessment focuses on knowledge of fundamental elements such as microeconomics, macroeconomics and statistics, as well as the previous grades obtained by the applicants in their Bachelor degree. Students with a background in financial economics that is considered sufficient by the panel and that is worth 240 ECTS can register directly for the 3rd semester. Application In order to be selected, applicants must fill in the pre-registration form on the university’s web site. The director of studies along with the professors belonging to the panel then select the applicants [-]

Master in Entrepreneurship and Innovation

Campus Full time 1 - 2 years September 2016 Luxembourg

Entrepreneurship has become an increasingly popular activity that can be evidenced in different spheres of the economy and society. More commonly, entrepreneurial behaviours are associated with new start up ventures where risk, ownership and management are combined to exploit new market or technological opportunities. [+]

Entrepreneurship has become an increasingly popular activity that can be evidenced in different spheres of the economy and society. More commonly, entrepreneurial behaviours are associated with new start up ventures where risk, ownership and management are combined to exploit new market or technological opportunities. But such activities can also be seen in corporate, social, public, civic, community and small business contexts to reflect organizational efforts to sustain competitive advantage, uniqueness and novelty. This is partly because the twenty-first century is characterized by a fast moving, competitive and global economy. Sustaining a competitive advantage requires that individuals, companies and nations are able to anticipate and stimulate (rather than merely manage) change. Entrepreneurship is about exploiting ambiguities and contingencies. More importantly, entrepreneurship is about experiencing a tension between ‘what is’ in the present and ‘what should be’ in the future – and then converting that tension into an entrepreneurial problem that can resolve the tension. Such a process demands concepts and knowledge from different disciplines, and the integration of these concepts with the know-how and practical experience of daily business practice. The programme aims at achieving that integration, optimally balancing theory and know-how. Entrepreneurship is a programme of the Luxembourg Business Academy, a partnership between the University of Luxembourg and the Luxembourg Chamber of Commerce. Who is the programme for and what will the programme offer you? The programme is a two-year full-time Master’s degree, which is targeted at: Bachelor graduates in any discipline from Luxembourg and the Grande Région wishing to develop their entrepreneurial/innovation skills and knowledge Graduates from Europe in any discipline looking to undertake a specific masters degree in entrepreneurship/innovation Graduates and young professionals from non-Europe, who, in addition to the education and degree offered by the MEI, seek exposure to the infrastructure for entrepreneurship, internships and job opportunities that Luxembourg has to offer Professional people or other practitioners who intend to start a business and want to learn the skills involved in this The key learning outcomes of the Master in Entrepreneurship and Innovation are to: Extend knowledge and understanding of the foundational principles of new venture creation and business start up in different societal contexts (social, corporate, ‘for profit’ etc.). Students will be able to critically assess and extend their entrepreneurial skills through direct interaction with colleagues/tutors on the course as well as entrepreneurs and local companies. Develop critical, analytical and problem-solving skills. Students will learn how to recognise, analyse and offer solutions to innovation, entrepreneurial and strategic management issues in different organizational settings, using appropriate conceptual tools and theoretical frameworks. Enable the ability to understand the components of a business plan and to appreciate different business and financial models as well as constructing a detailed financial and marketing plan. Advance employability skills in team working, presentation and leadership as well as facilitating inter-cultural communication. Students will learn how to convey their ideas, express their creativity and synthesise their thinking/knowledge both verbally and in written format. They will hone their presentation skills, learn about negotiation skills and project management. Provide an understanding of the local regulatory, tax and legal issues involved when starting a new venture and access to a wide set of business networks in Luxembourg economy. Employment opportunities: Normally, candidates who complete the programme find employment opportunities in areas of innovation management/small business management/start-ups/entrepreneurial contexts or corporate contexts and the public sector. Schematic description of the programme In year One, the curriculum is divided into five study blocks which are designed to cover all the technical and practical aspects required when starting a new venture (whether a social, business, or corporate venture) as well as some foundational theoretical issues/frameworks: New Venture planning Innovation Management Financial Issues for entrepreneurial ventures Marketing and new venture creation Business and project management skills In year two, there will also be five study blocks. Advanced entrepreneurship Advanced Innovation and the Innovation Audit Strategic Management Advanced small business management and leadership Research methodology and thesis Mode of delivery This is participative and interactive. In all courses there is a balance between theory and practice (we use cases from businesses, talks by business owners and entrepreneurs, visits to incubators, the Chamber of Commerce or companies). In some courses, we involve practitioners drawn from local business community. In the second year there is more reflective and theoretical discussion about organizational practices (and the meaning/implications of, for example, entrepreneurship for society and the role of innovation in the wider economy). This means that students are stretched to think critically about these processes rather than merely taking them for granted as accepted ways of thinking or organizing. Study abroad option In semester three, students have the option to study abroad during which they can take relevant courses at partner institutions in different international environments (NB: the particular partners are still being developed). Enrolment To obtain the degree “Master in Entrepreneurship and Innovation”, students must pass all the courses over the two years. We also envisage that some students might want to join for year one alone, or only for year two. To enroll only for the first year of the two-year course: Students need to have: a BA degree with 180 ECTS in any discipline subject area and a demonstrated entrepreneurial motivation (see below for criteria). The one year option would be appropriate for people who intend to start a business and want to learn the core theories as well as the practical skills involved. Subject to successful completion of courses in year one, students could exit at the end of that year with their awarded credits (normally 60 ECTS in which case they are awarded a Certificate in Entrepreneurship & Innovation). To enroll only for the second year of the two-year course: Students need to have: a four-year BA degree (in any topic); or a 3-year BA and 1-year Masters in a Business and Management topic achieving 240 ECTS. Applicants to the second year need to demonstrate 60 ECTS in courses related to finance/marketing/entrepreneurship/innovation/project management topics. For entrance to either year, evidence of an entrepreneurial motivation is required. This can be demonstrated by: Founding an active company or social enterprise Application for or holding of a patent Applied for or owning a trademark Winning or being shortlisted in a design competition Being a named director on a new venture (up to 5 years old) Having an article published in a recognised scientific journal or trade press publication Created a product idea that was used or developed by a company Candidates who believe they have significant innovation or entrepreneurship experience but in an area that is not specified above will have the opportunity to state this in the application. Language requirements: For international students who did not complete a 4-year bachelor's degree at an American, British, Canadian or Australian college or university, proof of proficiency in English is required for admission. We accept the following test scores, as long as they are not more than 2 years old: the TOEFL (Test of English as a Foreign Language) with a score of at least 600 on the paper-based test, 250 on the computer-based version, or 100 on the Internet-based examination with no less than 20 on each of the four test components. the PTE (Pearson Test of English - Academic) with a minimum score of 70 the IELTS with a score of 7, with no less than 6 on each band score. Application procedure Interested candidates should follow the standard university applications procedure AND submit a motivation letter outlining their entrepreneurial motivation and intentions. [-]

Master in Wealth Management

Campus Full time Part time 1 - 2 years September 2016 Luxembourg

The Master in Wealth Management (MWM) aims to educate and train future wealth managers. The programme combines traditional finance subjects with person-, legal- and tax-centric subjects such as client relationship management, estate planning, ethics and international taxation. [+]

The Master in Wealth Management (MWM) aims to educate and train future wealth managers. The programme combines traditional finance subjects with person-, legal- and tax-centric subjects such as client relationship management, estate planning, ethics and international taxation. Graduates will be able to find jobs in private banks, foundations, family offices, consultancy firms, insurance companies, investment firms, among others. The curriculum is made up of 28 courses, taught over short intensive periods, a module in Singapore, and an internship. The MWM was developed by the Luxembourg School of Finance (LSF) in cooperation with the Private Banking Group Luxembourg (PBGL) to meet the continuous need for talented and well-trained specialists in the continuously growing field of Wealth Management. All students will have an academic supervisor and a personal industry mentor who provide guidance and support for their academic and professional development. The teaching staff includes leading academics from the University of Luxembourg and other universities, as well as industry specialists with extensive experience and networks in their subject areas. The programme is offered in a full-time and in a part-time format. The PBGL-affiliated banks offer several part-time positions which enable candidates to finance their studies and put their newly acquired skills and knowledge into practice. Overview Wealth Management refers to the provision of customised financial services, such as portfolio management and financial planning, to High Net worth Individuals (HNWIs). Wealth managers are advisors that are experts in finance, taxation, estate planning and risk management. They closely follow their clients’ personal and financial circumstances and understand their preferences and goals. Wealth Managers can work for private companies, trusts, foundations or family offices, or can be independent advisors. Most wealth managers are account managers at Private Banks or the Private Banking divisions of large global banks. Wealth Management is an important and growing sector: during the first decade of the millennium assets under management in private banking doubled and reached more than 17 trillion dollar by the end of 2010. Luxembourg based banks have market share of 6% in the sector. For additional statistics on Wealth Management in Luxembourg see: http://www.abbl.lu/statistics Despite the importance of wealth management in the economy, very few dedicated degree programmes on the discipline exist. The Master in Wealth Management is one of the world's first professional Master programmes in Wealth Management. he Private Banking Group Luxembourg (PBGL) is a group within the Luxembourg Bankers’ Association (www.abbl.lu), a professional organisation representing the majority of banks and other financial intermediaries established in Luxembourg. Its purpose lies in defending and fostering the professional interests of its members. In 2010 the PBGL and the University of Luxembourg started working on an academic degree in Private Banking, and developed a curriculum that is unique in the world as it covers all aspects of Wealth Management. The University supplies the academic staff, teaching venues and administrative support. The PBGL supplies professional trainers, traineeship - and job opportunities. The result is the Master in Wealth Management programme, which was approved by the University in 2012. Curriculum The curriculum of the MWM is unique in the world, as it combines pure finance courses with law, tax and communication courses, so as to perfectly cover the skill and knowledge set of successful wealth managers. The 28 courses offered in the programme are divided into investment-centric courses (equities, bonds, real estate, hedge funds, derivatives, alternative investments, etc.), client-centric courses (personal portfolio management, estate planning, communication, tax-planning, etc.) and courses on laws and ethics. After earning 52 ECTS credits, students will put into practice their newly learned skills and knowledge in an internship or, for part-time students, a Master’s thesis. Teaching in the MWM programme is participative and practice oriented. For all courses (even the most technical and factual ones), we will involve practitioners drawn from the PBGL group to elaborate on the practical significance of the material learned. For some of the most “core” wealth management courses - such as private wealth management - panel discussions with experienced private bankers and realistic case-studies will be central to the transfer of knowledge. Several courses will be given over the course of one to three full days of teaching. Other courses may be taught over a series of half days. This concentrated format - as opposed to spreading out the courses and having two or more subjects each day - is highly successful in the existing LSF MSc. of Banking and Finance. Students value the opportunity to spend one or more days exclusively with their course lecturer(s), and for visiting professors this format is more efficient. Most courses will have written examinations at least one week after the final day of the course, but before five weeks after the final class day of a course. This gives the students sufficient time to study the material learned and reflect upon the course while not being unduly long after the last class. Some courses will have individual (take home) assignments instead of the written exam. Class participation, team assignments, and presentations may also be part of the final mark for each course. Course marks are given on a scale of 20, with 10/20 being a passing mark. Students who do not achieve a passing mark, can take a resit exams, mostly at the end of the programme. Academic supervisors and industry mentors The programme is very personal. Each student will be assigned an academic supervisor and an industry mentor, with whom he or she will have periodic meetings. The role of the academic supervisor is to provide counsel and advice for all academic aspects of the programme. He or she will be a faculty member of Luxembourg School of Finance and will monitor the academic progress of the student. The personal industry mentor will be a private banker of one of the PBGL-banks, with whom the student develops a personal and professional relationship during his/her studies, focussing on the student’s professional development. The mentor will introduce the student to the practical aspects of wealth management, through visits, lunch meetings, or corporate events. The industry mentor may also provide contacts or resources that are relevant to the student’s career. Courses The 28 courses offered in the programme are divided over the following five study blocks: Global Investment Solutions Alternative Investments Personal Portfolio Planning Relationship Management Laws and Ethics The courses in modules 1 and 2 are investment centric. They introduce and explain the basic investment instruments available to wealth management clients, as well as the basic concepts of return, risk, liquidity and diversification. These blocks will offer all the necessary knowledge and understanding of the foundations of modern day finance and portfolio management. The courses in modules 3 and 4 are client centric. We will focus on individual preferences, needs, circumstances, and cultural backgrounds, including family situations and fiscal environments. These blocks enable ability to recognise, classify and analyse clients´ needs. Students will learn about sources and uses of wealth, taxation, estate planning, and personal preferences and biases. In the courses in block 4, students will learn how to convey their analysis and ideas verbally and in writing. They will hone their presentation skills and learn about cultural barriers and how to overcome these. Module 5 is legal centric, and treats with the legal and ethical frameworks in the industry. Students will learn about financial laws and directives, and legal structures in different countries. They will learn about banks’ internal governance and control systems and the compliance task. Students will also study and fine-tune their moral compass, particularly regarding financial issues. After taking 28 courses in the above blocks students will be able to put practice their newly learned skills and knowledge in a traineeship project, to be documented in a Master’s thesis. Internship or Master’s Thesis As an integral part of the programme, full-time students are required to perform an internship for a period not less than 12 weeks. Students are free to seek the internship that suits their interests and objectives, provided that the nature of the internship is in relation to Wealth Management.. The LSF provide assistance in finding an internship with a private bank or non-bank financial services company of the Luxembourg financial centre. A wide variety of internships representing a range of different business activities in the financial centre are available. Part-time students are required to present a Master’s Thesis on a subject of their related to Wealth Management. Internships and Master’s theses are supervised by an LSF faculty member. Eligibility Criteria To be eligible for a place in the MWM, candidates must have a: Master’s I degree (240 ECTS), or four-year Bachelor’s degree (240 ECTS), or three-year Bachelor’s degree (180 ECTS) with 3 years’ subsequent professional experience; and a strong command of written and spoken English. Students can apply for either: The full time programme, The part-time programme, or The part-time programme and simultaneously, a part-time job at one of the PBGL affiliated banks. [-]

MSc

Master of Science in Banking and Finance

Campus Full time Part time 1 - 2 years September 2016 Luxembourg

The Master of Science in Banking and Finance is the flagship programme of the Luxembourg School of Finance. It offers a comprehensive curriculum encompassing both classic and more recent areas of the finance discipline as well as the principal functions of banking. [+]

The Master of Science in Banking and Finance is the flagship programme of the Luxembourg School of Finance. It offers a comprehensive curriculum encompassing both classic and more recent areas of the finance discipline as well as the principal functions of banking. The cross-functional curriculum provides a dynamic framework of analytical skills and intellectual tools, providing an integrated approach to solving complex banking and financial problems. In addition to a broad range of core courses, students may select one of two streams representing mainstream areas in which they can obtain a deeper knowledge. Students study with the School’s permanent faculty. The diverse faculty, which maintain close ties to the Luxembourg banking and financial community, engage in leading research and advance banking and financial knowledge and practices on many fronts including market valuation of financial instruments, risk management and behavioral finance. In addition, a roster of invited professors from renowned finance faculties of other universities teach selected courses. The programme is ideally suited to students seeking a career in corporate finance, asset and wealth management, banking and related fields. Programme Formats The programme is offered in both full-time and part-time formats with a start in the autumn. The full-time programme begins in October and finishes in June of every year, followed by an obligatory internship. The part-time programme begins in September. Classes are generally held on Fridays and Saturdays (full days) twice per month during semester periods. Degree The MSc in Banking and Finance is a post-graduate degree offered by the Luxembourg School of Finance of the Faculty of Law, Economics and Finance. The Master of Science in Banking and Finance curriculum comprises 60 ECTS and 500 lecture hours, in addition to field work or a possible Master’s Thesis. It is structured in five components: Core courses, Stream courses, Elective courses, an academic week-in-residence, and an internship or possible Master’s Thesis. Core Courses Core courses are obligatory and encompass both foundation and advanced fields of finance and banking. They are organised into four modules: Foundation, Finance, Advanced finance, Accounting, governance and ethics. Stream Courses Students must select one stream; courses from the chosen stream are obligatory. The programme contains two streams - Banking and Investment Management - containing courses that provide opportunity for more specialised study. Elective Courses Students must select one elective course from a broad range of available elective courses. Elective courses comprise all stream courses, allowing students to follow a course not in their selected stream. Alternatively, students may choose from two other elective courses offered. Academic week-in-residence As an integral part of the programme, students are required to attend an academic week-in-residence. The week involves lectures from renowned faculty on specific advanced topics in finance. The location of the Academic week- in residence is to be determined. Internship or Master’s Thesis As an integral part of the programme, full-time students are required to perform an internship for a period not less than 12 weeks. Students are free to seek the internship that suits their interests and objectives, provided that the nature of the internship is in relation to banking or finance. The LSF provide assistance in finding an internship with a bank or non-bank financial services company of the Luxembourg financial centre. Typically a wide variety of internships representing a range of different business activities in the financial centre are available. Part-time students are required to present a Master’s Thesis on a subject of their related to banking or finance. The subject must be approved by the advising faculty member. Alternatively, students can choose to take three additional courses in lieu of a Master Thesis. Full-time format The full-time format requires a full 12 months of full-time study (including an internship period of 12 weeks). It is not suitable for those will full or half-time jobs or other similar commitments. The academic year starts in early October and finished in early June. Normally the internship will take place from June to September, although this can vary. Classes are held in full- or half-day sessions, typically three full days per week. Due to exams, university and school holidays, events and other factors, not all weeks will have classes. Full-time students are required to attend the academic week-in-residence, typically held during the second week of September of their second year. It is important that internship companies are advised of this at the start of the internship. Full-time students have typically recently completed a Bachelor’s or Master’s I programme and may have had a few years’ work experience. However, there are also students who have several or even many years’ professional experience, who decide to take a year off for full-time study to obtain their MSc in Banking and Finance. The full-time class is very international, typically comprising students from all or almost all continents and a great variety of regions. This richness of diversity and background adds greatly to the interest of the programme. Class sizes typically do not exceed 35 students. For a small number of courses involving some adjunct professors, class sizes may be up to 60. For non-EU/EEA students, in addition to the internship, Luxembourg law provides for the provision of a work-permit after graduation for a period of two years, in an area related to the degree obtained. The part-time format The part-time format requires a 24 months of part-time study. It is therefore suitable for professionals seeking to study while continuing their career. The programme begins in mid-September of each year. Classes in the first year are held in the months of September to December and then January to July. In the second year, classes are held in the months of September to December. Classes take place in full- or half-day sessions Thursday, Friday and Saturday, or Friday and Saturday, every second week of months in which there are classes. Some months will have fewer classes due to exams, university and school holidays, events and other factors. Part-time students are required to attend the academic week-in-residence typically held during the second week of September of their second year. It is therefore important that students make suitable arrangements with their employers for the necessary vacation time. Part-time students are professionals, many from the Luxembourg financial sector, residing in Luxembourg or its greater region. In addition to their professional commitments, many students have families and other activities. The part-time class is very international and comprises students with a broad range of professional backgrounds, even within finance. This reflects the diversity of both the Luxembourg financial centre and its broader economic base, and adds to the interest of the programme. Class sizes typically do not exceed 35 students. For a small number of courses involving some adjunct professors, class sizes may be up to 60. For non-EU/EEA students, enrolment in the part-time programme will not be accepted by the Luxembourg authorities as a basis for applying for a student visa. Internship As an integral part of the programme, full-time students are required to perform an internship for a period not less than 12 weeks. Students are free to seek the internship that suits their interests and objectives in banking or finance. The Luxembourg School of Finance maintains contact with a wide range of companies for the purpose of securing internship positions for full-time students. As part of this effort, the LSF distributes a book with student CVs to companies interested in providing one or more internships to LSF students. It is the student’s responsibility to find an internship position and the LSF will not engage in an internship search on behalf of students. However, the LSF will assist students in their search by providing its contacts, by orienting the students to companies that correspond to their area of interest, by contacting individual companies where there is a specific interest on the part of the student, and by providing guidance and information. Most companies use the university’s standard internship contract. Some companies use their own internship contracts. Luxembourg law makes specific provisions for internships for university students and no formalities beyond the internship contract are required. Non EU/EEA students are not subject to any additional requirements. A work permit for the internship is not required. Masters' thesis Part-time students are required to present a Master’s Thesis on a subject of their choice related to banking or finance. The subject must be approved by the advising faculty member. Students may also choose to replace the Master Thesis by taking three additional courses. Placement The Luxembourg School of Finance maintains contact with a wide range of companies for the purpose of promoting our graduating students potential permanent employees. As part of this effort, the LSF distributes a book with student CVs to companies interested in recruiting an LSF graduate. It is the student’s responsibility to find a permanent position after graduation, the LSF will not engage in a placement search on behalf of students. However, the LSF will assist students in their search by providing its contacts, by orienting the students to companies that correspond to their area of interest, by contacting individual companies where there is a specific interest on the part of the student, and by providing guidance and information. Student and work visas Non EU/EEA Students are advised to read carefully the contents of this section concerning application procedures and requirements for student visas, validating prior academic degrees and diplomas. In addition, some information is provided concerning the possibility of obtaining a work visa in Luxembourg after completion of the MSc in Banking and Finance. Student visas Non EU/EEA students are advised to obtain complete information from the Luxembourg authorities and their consular offices, and to allow sufficient time for student visa application procedures to be completed. In particular, it is strongly recommended to : allow at least three months for completion of the visa application procedures and receipt of a student visa; consult local consular office of Luxembourg (or a consular office of another country representing Luxembourg for consular affairs) or other competent authority to obtain complete information regarding student visa application requirements; read carefully and follow the requirements specified in the University of Luxembourg’s web site under Admissions, concerning the validation of prior academic degrees and diplomas. Work visas Non EU/EEA students having completed their MSc in Banking and Finance are entitled to obtain a Luxembourg work permit for a duration of maximum two years beginning in the period immediately following the completion of their degree. The procedure is not automatic, and must be the subject of a specific application, in which the student must present a work contract with a sponsoring employer. The work contract must be related to private banking. Application The Master of Science in Banking and Finance seeks to attract highly dedicated candidates wishing to pursue a challenging career in the financial sector. Candidates who meet the eligibility criteria will be selected on the basis of their past academic performance and a personal interview with the Managing Director of the programme. Those wishing to apply should read carefully the admission procedures of the university. Students with prior academic degrees from non EU/EEA countries should pay careful attention to the university’s admission procedure concerning recognition of non EU/EEA academic degrees and diplomas. [-]

Contact
Location address
Faculty of Law, Economics and Finance
Campus Limpertsberg + Research Building A & B
162a, avenue de la Faïencerie

Luxembourg-Limpertsberg, L-1511 LU
Location address
Research Building C
148, avenue de la Faïencerie

Luxembourg-Limpertsberg, L-1511 LU