Master in Finance and Economics – Financial Economics (2nd year)
University of Luxembourg
Information last verified July 2026
Program Overview
The one-year specialised track in Financial Economics provides expertise in decision making combining economic and financial knowledge with statistical, econometric and data analytic methods.
Key Program Features
- Requirements Rigorous Curriculum The Financial Economics track offers a curriculum that links rigorous economic analysis and advanced econometrics enabling students to develop deep analytical and problem solving skills that are increasingly demanded in the financial industry. EMOS Certificate The Financial Economics track offers courses that are required for qualifying for the European Master in Official Statistics (EMOS)
- which certifies students that are trained to work in National Statistical
Career Opportunities
Study and Career opportunities The Financial Economics track of the Master in Finance and Economics targets students who seek to gain expertise in decision making combining economic and financial knowledge with statistical, econometric and data analytic methods. It offers the necessary skills for a successful start of a career in consulting and policy analysis in the financial and banking industry, or in the public sector including ministries, central banks, statistical offices. FDEF internships/scholarships Internships & student counseling Alumni Career centre Objectives Learning Outcomes • Acquire advanced interdisciplinary knowledge within the academic field;• Develop detailed understanding of a range of econometric and programming techniques, economic theory and policy making, the working of financial markets and institutions, and further aspects of financial economics; • Develop skills and tools to analyse problems and identify appropriate solutions based on well-founded scientific methods and instrument of the field;• Gain critical thinking, ability to work independently and communicate on the subject using terminology, language and expressions of the field;• Gain exposure to the financial sector and offer opportunities for professional networking. Career perspectives Luxembourg offers a dynamic and international job market. Graduates from the Financial Economics track of the Master in Finance and Economics, will be prepared for different career paths in Luxembourg or abroad, for example with:• Banks and other financial institutions• Central Banks and Statistical Offices• Public sector• Asset management firms• Consultancy companies• Industrial companies• Insurance companies• Financial administration The track allows students to pursue their chosen field of specialisation, while also offering a common foundation and the opportunity to explore the basics of each field. The result is a well-rounded education in finance and economics enabling graduates to successf
Program Curriculum
Programme The Financial Economics track is divided into four modules. The first module contains core courses such as: Econometrics; Programming in R; Advanced Microeconomics of Banking; Survey Data; Impact Evaluator. The second and third module contain optional specialised courses. The fourth module involves an Internship with an Applied Master Thesis or an Academic Thesis.Attendance at M2 courses is compulsory. Admissions Academic Contents Semester 1 and 2 Semester 1 and 2 Semester 3 Semester 4 The courses of the first year are part of the main common programme and not track specific. Master in Finance and Economics Learn more Course offer for Financial Economics, Semestre 3 (2026-2027 Winter) 3.E1. Behavioral Finance ECTS credits: 5 Course code: MScFE_BK-6 Course title: 3.E1. Behavioral Finance Number of ECTS: 5 Course code: MScFE_BK-6 Module(s): Module 3.E: Special Topics in Finance and Economics – Electives II Language: EN Mandatory: No On completion of the course unit successful students will be able to :Know anomalies in finance and economics and understand theoretical explanationsKnow the foundations of behavioural finance and behavioural economicsUnderstand human behaviour The course: introduces to the literature on the anomalies in financial markets and the theories of behavioral economics and finance. Departing from the standard paradigm in financial economics, expected utility and the capital asset pricing model, we pinpoint anomalies that show up in the data from the real world and the laboratory.includes models of prospect theory, noise trader risks, psychological game theory, bounded rationality that help to understand the divergence between observed behavior and the standard paradigm of financial economics. Written exam (2 hours) Literature: Barberis and Thaler 2003. “A survey of behavioral finance.” Handbook of the Economics of Finance, 1, 1053-1128Dhami, Sanjit, 2016, Foundations of behavioral economic analysis. Oxford University PressGigerenzer and
Admission Requirements
Admissions To apply for a programme at the University of Luxembourg, candidates must comply with the general eligibility criteria for the chosen programme type and be selected by the study programme based on the quality of their application. The programme at a glance – 120 ECTS Duration: 2 years / 4 sem Teaching languages: EN Admissions: EU: 1 Feb 2026 – 24 May 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 3,4) Format: Full-time programme (Part-time student status allowed) Specific information for this programme Requirements A 3-year BA and 1-year Masters in the field of Economics and Finance achieving 240 ECTs. Equivalently, a 4-year BA degree in the field of Economics and Finance with 240 ECTs.A specific and strong motivation for the Financial Economics track.In addition, the applicants have to provide information how they achieved the learning outcomes at M1 level. All applicants whose native language is not English need to be able to demonstrate proficiency of English at B2 level (compulsory), (according to the Common European Framework of Reference for Languages – CEFR) Proof of language skills – Motivation letter– CV– A description of relevant modules/courses explaining how the learning objectives at M1 level have been achieved in the previous course of studies Selection Procedure & Criteria The application file is assessed by the Admissions Board. Applicants are evaluated and selected on the basis of the application criteria to the Master in Finance and Economics in general. Adequacy of the applicant’s educational or professional profile is based on the applicant’s academic background, academic level assessed on the basis of transcripts (average, student rank if applicable), and a strong motivation as demonstrated in the applicant’s cover letter. If the number of eligible applicants exceeds 20 (numerus clausus), applicants will be placed on a waiting list ranked according to merit. Assessment criteria include: Existing knowledge, skills and
Tuition & Financial Information
Tuition Fee
400€/semester
About University of Luxembourg
University of Luxembourg
Esch-sur-Alzette, Luxembourg
The University of Luxembourg is a public research university in Esch-sur-Alzette and Luxembourg City, Luxembourg. It was founded in 2003 and is the only public university in Luxembourg.
University Profile- Application Deadline EU: 1 Feb 2026 – 24 May 2026 Non-EU: 1 Feb 2026 – 24 Mar 2026 Fees: 400€/ sem. (semester 3,4) Format
- Start Date September
- Language English
- Duration 2 years
- Credits 120
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