Master in Finance and Economics – Investment Management (2nd year)
University of Luxembourg
Information last verified July 2026
Program Overview
Developed by academics in conjunction with the expert advice of industry professionals, the Investment Management track connects frontier research with professional practice.
Career Opportunities
Study and career opportunities Graduates of the Investment Management track acquire a well-rounded education in the fundamentals of finance and economics along with specialized in-depth knowledge of portfolio management and quantitative finance, as well as crucial applied knowledge of the industry-specific structure, mechanisms and trends. The unique educational blend and the established network of professional leaders are a key to students’ success in the investment industry. FDEF internships/scholarships Internships & student counseling Alumni Career centre Objectives Gain a competitive edge for a career in asset management The track provides a thorough understanding of the theoretical fundamentals of asset management. It draws on frontier research in asset pricing. It also equips students with in-depth knowledge of state-of-the-art quantitative analytical tools used in asset management and their theoretical foundations in order to apply and to adapt them efficiently for any given financial problem they encounter. The programme is also highly applied. It aligns in-depth academic context and professional relevance. The track leverages on the unique local asset and many of the lectures are delivered by highly regarded experts from the Luxembourg investment fund industry. It aims at preparing its graduates to tackle future challenges of the financial sector, adapting fundamental models in finance to the ever-changing landscape of asset management. Learning outcomes Fusing investment theory with practice • Demonstrate in-depth knowledge of fundamental finance theories that underpin professional portfolio management and be able to apply them in the context of real-life investment decisions.• Gain strong practical skills in areas such as investment analysis, valuation, investment allocation and portfolio management.• Apply quantitative models and econometric tools to complex financial problems including the evaluation of investment strategies and the management of finan
Program Curriculum
Programme The track is divided into four modules. An investment management module covers fundamental subjects in portfolio management, alternative investments and quantitative models for investment decisions. Two elective modules cover a broad spectrum of special topics in finance. Finally, students are given the option to complete an internship with an applied master thesis, or to write an academic thesis.Attendance at second year 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 Investment Management, 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 an
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 Applicants need to have successfully completed • a 4-year Bachelor’s degree in the field of Economics and Finance with 240 ECTs or • a 3-year Bachelor’s degree and a 1-year Master’s degree in the field of Economics and Finance, achieving 240 ECTs in total. 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 completed in the previous course of studies, explaining how the learning objectives at first year of Master level have been achieved, including the specific prerequisites for the track (2.E1.Financial Analysis and Valuation & 2.E3.Derivatives). 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.For second year, if the number of eligible applicants exceeds 20 (numerus clausus) per track, candidates are placed on a waiting list ranked according to merit. Candidates are assessed according to the adequacy of their educational profile, including the applicant’s academic background, academic level assessed on the basis of transcripts (average, student rank if applicable), as well as a strong motivation as demonstrated in
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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