{"id":1530,"date":"2023-07-26T12:02:52","date_gmt":"2023-07-26T12:02:52","guid":{"rendered":"https:\/\/website.prod.unilu.spikeseed.cloud\/fdef-en\/study-programs\/master-of-science-in-finance-and-economics-digital-transformation-in-finance\/programme\/"},"modified":"2026-01-07T12:37:36","modified_gmt":"2026-01-07T11:37:36","slug":"programme","status":"publish","type":"study-programs","link":"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/programme\/","title":{"rendered":"Programme"},"content":{"rendered":"<div class=\"section py-0 static\">\n<section class=\"py-0 wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\"><!-- SecondaryNavigationMirror --><div class=\"js-secondary-nav--sticky wp-block-unilux-blocks-secondary-navigation\" id=\"c29e6823-00f2-4122-bccb-fbd8cda6f877\">\n    <nav id=\"secondary-navigation\" role=\"navigation\" aria-label=\"Secondary menu\" class=\"secondary-nav\">\n        <button class=\"secondary-nav__button btn btn-solid--primary w-full\" aria-expanded=\"false\" aria-controls=\"secondary-navigation__list\" title=\"The selected page is Programme\" type=\"button\">\n            <span class=\"btn__name mr-auto\">Programme<\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n                <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\" \/>\n            <\/svg>\n        <\/button>\n\n        <ul id=\"secondary-navigation__list\" class=\"secondary-nav__list\">\n            <li class=\"secondary-nav__item\">\n    <a href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/\" target=\"\" rel=\"noreferrer noopener\" class=\"secondary-nav__link \">\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n        <\/svg>\n        <span class=\"secondary-nav__name\">Overview<\/span>\n    <\/a>\n<\/li>\n<li class=\"secondary-nav__item\">\n    <a href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/programme\/\" target=\"\" rel=\"noreferrer noopener\" class=\"secondary-nav__link isactived\" aria-current=\"page\">\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n        <\/svg>\n        <span class=\"secondary-nav__name\">Programme<\/span>\n    <\/a>\n<\/li>\n<li class=\"secondary-nav__item\">\n    <a href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/career\/\" target=\"\" rel=\"noreferrer noopener\" class=\"secondary-nav__link \">\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n        <\/svg>\n        <span class=\"secondary-nav__name\">Career<\/span>\n    <\/a>\n<\/li>\n<li class=\"secondary-nav__item\">\n    <a href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/teaching-staff\/\" target=\"\" rel=\"noreferrer noopener\" class=\"secondary-nav__link \">\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n        <\/svg>\n        <span class=\"secondary-nav__name\">Teaching staff<\/span>\n    <\/a>\n<\/li>\n<li class=\"secondary-nav__item\">\n    <a href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/admissions\/\" target=\"\" rel=\"noreferrer noopener\" class=\"secondary-nav__link \">\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n        <\/svg>\n        <span class=\"secondary-nav__name\">Admissions<\/span>\n    <\/a>\n<\/li>\n        <\/ul>\n    <\/nav>\n<\/div>\n<!-- end SecondaryNavigationMirror --><\/div><\/section>\n\n\n<section class=\"section section wp-block-unilux-blocks-headline-text-and-image\">\n    \n<div class=\"wp-block-unilux-blocks-wrapper container xl:max-w-screen-xl\">\n<h1 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"programme\"\n    >\nProgramme<\/h1>\n\n\n\n<div class=\"wp-block-unilux-blocks-wrapper flex flex-wrap lg:-mx-32\">\n<div class=\"wp-block-unilux-blocks-wrapper w-full lg:w-7\/12 lg:order-2 lg:px-32\">\n<div class=\"wp-block-unilux-blocks-image-video-wrapper\">\n    <figure class=\"wp-block-dev4-reusable-blocks-image  object-fit--cover\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu.jpg\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu-300x200.jpg 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu-1024x682.jpg 1024w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu-768x512.jpg 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu-1536x1024.jpg 1536w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/07\/iStock-913219882wadvNu.jpg 2000w\"\n                style=\"object-position: 50.00% 50.00%; font-family: &quot;object-fit: cover; object-position: 50.00% 50.00%;&quot;; aspect-ratio: 3\/2; object-fit: cover; width: 100%;\"\n        loading=\"lazy\"\n\/>    <\/figure><\/div><\/div>\n\n\n\n<div class=\"wp-block-unilux-blocks-wrapper w-full lg:w-5\/12 lg:order-1 lg:px-32\">\n<p>The didactical underpinning leverages on problem-based learning, enabling you to build the state-of the art scientific context around real-life cases, provided by residing industry representatives. You will also take part in an industry strength Hackathon, where you have the chance to come up with a financial service and\/or with a financial product on your own ! More information below!<br><br>Attendance at second year courses is compulsory.<\/p>\n\n\n\n<ul class=\"wp-block-unilux-blocks-custom-buttons btn-list\"><li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics-digital-transformation-in-finance\/admissions\/\"\n                target=\"_self\"\n        class=\"btn btn--primary\"\n            >Admissions<\/a>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<h2 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"academic-contents\"\n    >\nAcademic contents<\/h2>\n\n\n\n<div id=\"tab-nav\" class=\"tab-nav\">\n    <button\n        type=\"button\"\n        class=\"button-toggle btn btn--white w-full\"\n        aria-expanded=\"false\"\n        aria-controls=\"tab-nav__listing\"\n        title=\"The selected tab is CONTENT OF THE CURRENT LABEL\"\n    >\n        <span class=\"btn__name mr-auto\">Semester 1 and 2<\/span>\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n            <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\" \/>\n        <\/svg>\n    <\/button>\n    <ul\n        id=\"tab-nav__listing\"\n        class=\"tab-nav__listing nav manual\"\n        role=\"tablist\"\n        aria-label=\"About me\"\n    >\n                <li role=\"presentation\" class=\"tab-nav__item\" key={button.id}>\n            <button\n                type=\"button\"\n                id=\"tab-b7ccfc78-b8c8-4c10-a3c0-74046dbf579b\"\n                data-bs-toggle=\"tab\"\n                data-bs-target=\"#tabpanel-b7ccfc78-b8c8-4c10-a3c0-74046dbf579b\"\n                role=\"tab\"\n                aria-controls=\"tabpanel-b7ccfc78-b8c8-4c10-a3c0-74046dbf579b\"\n                aria-selected=\"false\"\n                aria-current=\"false\"\n                class=\"tab-nav__button\"\n                tabIndex=\"-1\"\n            >\n                <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n                    <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n                <\/svg>\n                <span class=\"tab-nav__name\">Semester 1 and 2<\/span>\n            <\/button>\n        <\/li>\n                <li role=\"presentation\" class=\"tab-nav__item\" key={button.id}>\n            <button\n                type=\"button\"\n                id=\"tab-5efa12d8-fbad-495a-a8d4-43271a85b776\"\n                data-bs-toggle=\"tab\"\n                data-bs-target=\"#tabpanel-5efa12d8-fbad-495a-a8d4-43271a85b776\"\n                role=\"tab\"\n                aria-controls=\"tabpanel-5efa12d8-fbad-495a-a8d4-43271a85b776\"\n                aria-selected=\"false\"\n                aria-current=\"false\"\n                class=\"tab-nav__button\"\n                tabIndex=\"-1\"\n            >\n                <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n                    <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n                <\/svg>\n                <span class=\"tab-nav__name\">Semester 3<\/span>\n            <\/button>\n        <\/li>\n                <li role=\"presentation\" class=\"tab-nav__item\" key={button.id}>\n            <button\n                type=\"button\"\n                id=\"tab-c2f8b154-d526-44fe-9882-b40d24b29499\"\n                data-bs-toggle=\"tab\"\n                data-bs-target=\"#tabpanel-c2f8b154-d526-44fe-9882-b40d24b29499\"\n                role=\"tab\"\n                aria-controls=\"tabpanel-c2f8b154-d526-44fe-9882-b40d24b29499\"\n                aria-selected=\"false\"\n                aria-current=\"false\"\n                class=\"tab-nav__button\"\n                tabIndex=\"-1\"\n            >\n                <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--xs\">\n                    <use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\" \/>\n                <\/svg>\n                <span class=\"tab-nav__name\">Semester 4<\/span>\n            <\/button>\n        <\/li>\n            <\/ul>\n<\/div>\n<div class=\"tab-content\">\n    <section\n    id=\"tabpanel-b7ccfc78-b8c8-4c10-a3c0-74046dbf579b\"\n    aria-labelledby=\"tab-b7ccfc78-b8c8-4c10-a3c0-74046dbf579b\"\n    class=\"tab-panel fade hidden is-hidden\"\n>\n    \n<p><strong>The courses of the first year are part of the main common programme and not track specific.<\/strong><\/p>\n<ul class=\"flex flex-wrap mt-24 -mx-16  wp-block-unilux-blocks-free-content-card\">\n    <li class=\"w-full sm:w-1\/2 lg:w-1\/3 px-16  wp-block-unilux-blocks-free-content-card-item\">\n    <div class=\"ulux-card card-project-related bg-theme\">\n        <div class=\"ulux-card__container card__container\">\n                        <div class=\"ulux-card__body wp-block-unilux-blocks-free-content-card-item-body\">\n    \n<span class=\"ulux-card__related wp-block-unilux-blocks-plain-text\"><\/span>\n<h3 class=\"ulux-card__title has-text-align-left wp-block-unilux-blocks-heading\"        id=\"master-in-finance-and-economics\"\n    >\n<strong>Master in Finance and Economics<\/strong><\/h3>\n<div class=\"ulux-card__link-wrapper card__link wp-block-unilux-blocks-simple-cta\">\n    <a\n        href=\"https:\/\/www.uni.lu\/fdef-en\/study-programs\/master-in-finance-and-economics\/\"\n        title=\"Learn more\"\n        class=\"link-text link-text--icon ulux-card__link link-text link-absolute\"\n        target=\"\"\n    >\n        <span class=\"link-text__body\">\n            <span class=\"link-text__name\">Learn more<\/span>\n        <\/span>\n        <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-right \"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-right\"><\/use><\/svg>    <\/a>\n<\/div>\n<\/div>        <\/div>\n    <\/div>\n<\/li><\/ul><\/section>\n<section\n    id=\"tabpanel-5efa12d8-fbad-495a-a8d4-43271a85b776\"\n    aria-labelledby=\"tab-5efa12d8-fbad-495a-a8d4-43271a85b776\"\n    class=\"tab-panel fade hidden is-hidden\"\n>\n    <div class=\"wp-block-unilux-blocks-course-offer\">\n    <h3>Course offer for Digital Transformation in Finance, Semestre 3 (2025-2026 Winter)<\/h3>\n    \n<div id=\"accordion-module-69d65ff72afa2\" class=\"accordion accordion--theme\">\n            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72afdb\"\n        >\n            <span class=\"accordion__title\">\n                3.DTF1 Advanced Data Analysis                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MSFE_2_DIGTRANS-1                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72afdb\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.DTF1 Advanced Data Analysis<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MSFE_2_DIGTRANS-1<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.DTF: Specialisation &#8211; Digital Transformation in Finance Track<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> Yes<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :<br><\/p><br><ul><br><li>Exhibit a comprehensive and multi-dimensional understanding of data, encompassing its diverse applications and significance in various contexts<\/li><br><li>Employ basic algorithmisation and scripting techniques to connect financial challenges with technology-driven solutions in professional environments<\/li><br><li><br>Utilise automated toolsets for data handling and management, enabling effective decision-making in tackling intricate problem sets with incomplete or noisy data<br><\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>This course equips the students with the essential tools and expertise to thrive in the modern data-driven era. Its comprehensive program is divided into three building blocks, each focusing on critical aspects of data analysis. They enable the students to master Python programming, machine learning techniques, and database management with SQL.<br><\/p><p>The &#8220;Python&#8221; block helps students to foster their programming skills. From basic syntax to advanced data manipulation, the students explore how Python serves as the backbone of data analysis. The block dives into libraries like NumPy and Pandas to efficiently process and visualize data, before moving to more advanced analytical tasks.<br><\/p><p>The &#8220;Machine Learning&#8221; block provides a comprehensive introduction to machine learning techniques, among which different text analysis tools like ChatGPT. This block illustrates with concrete examples how these techniques are relevant from both financial and computer science perspectives.<\/p><br>The \u201cSQL\u201d block takes a chapter from the Data Science course in the Master in Mathematics (specialising in Financial Mathematics) to enable students to manipulate big databases. The SQL management system is particularly useful in handling and retrieve information from structured data.<br>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>70% group presentation<\/p><br><p>30% written exam (programming)<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Literature will be provided during the lecture.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b00e\"\n        >\n            <span class=\"accordion__title\">\n                3.DTF2 Blockchain and Cryptocurrency Markets                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MSFE_2_DIGTRANS-2                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b00e\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.DTF2 Blockchain and Cryptocurrency Markets<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MSFE_2_DIGTRANS-2<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.DTF: Specialisation &#8211; Digital Transformation in Finance Track<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> Yes<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :<br><\/p><br><ul><br><li>Understand the fundamentals of crypto-assets and blockchain technology<\/li><br><li>Improve the analysis of digital transformation across different domains and viewpoints<\/li><br><li>Steer the feasible digital transformation of the finance industry<\/li><br><li>Analyse valuation, opportunities and possible risks of a new asset class based on blockchain technology<\/li><br><li>Recognise misconceptions about technical properties of blockchain and decentralised digital identities<\/li><br><li>Identify appropriate use cases for both technologies and the corresponding role of digital wallets<\/li><br><li>Analyse blockchain technology&#8217;s influence on investment banks applying smart contracts for traditional investments<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Course learning outcomes<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        \u00a0                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>This course is designed to provide participants with a comprehensive understanding of crypto-assets as a new asset class. Decentralisation technologies have garnered significant attention as a disruptive force that could challenge traditional structures and business models, particularly in the financial sector. In response to this transformative landscape, financial professionals must comprehend the potential, applications, and challenges these technologies pose. This course equips students with a critical perspective, essential to navigate the rapidly evolving financial landscape with confidence and make informed decisions in their professional pursuits.<br><\/p> <p>The first part of the course focuses on the fundamentals of crypto-assets and blockchain technology, from a financial markets perspective. Participants explore the core concepts of cryptocurrencies, blockchain, and distributed ledger technology, understanding the mechanics of hash functions, hash pointers, and consensus mechanisms to understand how to assess crypto-asset value and risks in crypto markets.<br><\/p> By introducing a socio-technical perspective, the second part of the course delves deeper into decentralized finance and information security, thereby equipping financial professional with a holistic understanding of the interplay of the technical system as well as the social system. More concretely, students will learn how to reason about technology not only from a technical perspective (e.g., the building blocks of blockchain) but also from a social perspective (e.g., considering regulatory requirements).\u00a0Additionally, the students will deepen their knowledge on cybersecurity management in decentralized finance, overviewing the corresponding role of artificial intelligence and privacy-enhancing technologies. They will further explore how blockchain can aid or hamper financial crime and integrity. Finally, they will be introduced to interdisciplinary design of central bank digital currencies, including the role of digital wallets.\u00a0The purpose is to look beyond the blockchain hype by conducting an in-depth analysis of the factors influencing risks in decentralization technologies. This provides a balanced picture of the impact of blockchain-based technology stacks on end-users and other stakeholders.<br>The third part of the course focuses on the institutional adoption of blockchain technology. Students explore the potential of smart contracts for investment banks in managing traditional investments. By studying a practical case, they will convert traditional financial products into smart-contract instruments.                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>35% written exam :\u00a0Multiple choice and open questions on first part (25%) and second part (10%)<\/p><br><p>25% group presentation on first part<\/p><br><p>25% group presentation on second part<\/p><br><p>15% group prensentation on third part<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p><br>Literature will be provided during the lecture.<br><\/p>                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b031\"\n        >\n            <span class=\"accordion__title\">\n                3.DTF3 Financial Institutions and Fintech                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MSFE_2_DIGTRANS-3                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b031\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.DTF3 Financial Institutions and Fintech<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MSFE_2_DIGTRANS-3<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.DTF: Specialisation &#8211; Digital Transformation in Finance Track<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> Yes<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :<br><\/p><br><ul><br><li>Understand the intricate relationship between financial institutions and fintech innovation <\/li><br><li>Anticipate and navigate the collaborative potential and transformative consequences of fintech advancements in the financial sector<\/li><br><li>Evaluate the evolving landscape of digital currencies and their potential impact on the financial system<\/li><br><li>Understand fintech&#8217;s role in reshaping payments, open banking, and retail savings and investments<\/li><br><li>Have a broader understanding about how emergent financial technologies are changing the standard financial architecture and its implications for financial institutions<\/li><br><li>Have a better understanding of how emergent fintech developments will change the financial products available<\/li><br><li>Assess credit scoring and digital lending within the context of financial innovation<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Course learning outcomes<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        \u00a0<br>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>The intricate interplay between financial institutions and fintech innovation has become essential in shaping the future of the financial sector. This course offers a comprehensive analysis of this relationship, highlighting the collaborative potential and far-reaching consequences. Students explore the evolving concept of currency and central bank digital currencies, the historical evolution of fintech and its role in reshaping payments and open banking, fintech&#8217;s potential to revolutionise retail savings and investments, the way banking is likely to adapt with new operating models, credit scoring, and digital lending.<br><\/p><p>Students analyse the fundamental concept of money and gain a profound understanding of its evolving nature and use for financial transactions. They learn about central bank digital currencies, unravelling their precise definitions and evaluating the potential repercussions for the financial system. Moreover, participants examine the European Central Bank&#8217;s (ECB) reports, extensive studies, and cutting-edge advancements, gaining insights into the current state of affairs.<br><\/p><p>This course also introduces the concept of fintech, its historical evolution, and its impact on the payments system. Participants study the main business models and their evolution and analyse open banking and API applications. Finally, an expert from the industry provides an insider&#8217;s perspective on how fintech could revolutionise retail savings and investments.<br><\/p><p>Moreover, the course provides insights over the transformation that the banking system will be experiencing over the next decades. It classifies the main drivers of transformation and singles out major digitalization challenges. Students will examine the use cases of the most promising technologies like Decentralized Ledger Technologies or Generative AI.\u00a0\u00a0<\/p>Finally, the course adopts an academic approach to credit scoring and digital lending. In this part, students explore the credit allocation to SMEs and default rates, and they investigate whether financial institutions will change their approach following the adoption of financial innovations.                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>30% written exam:\u00a0Money and digital currencies<\/p><br><p>30% oral exam:\u00a0The future operating models in banking<br><\/p><br><p>30% individual problem set:\u00a0Credit scoring and digital lending<\/p><br><p>10% individual problem set: API<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Literature will be provided during the lecture.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b052\"\n        >\n            <span class=\"accordion__title\">\n                3.DTF4 Digital Finance Law, Regulation and Implications                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MSFE_2_DIGTRANS-4                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b052\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.DTF4 Digital Finance Law, Regulation and Implications<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MSFE_2_DIGTRANS-4<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.DTF: Specialisation &#8211; Digital Transformation in Finance Track<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> Yes<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Course learning outcomes<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>By\u00a0following this course, students shall be able to:<br><\/p><br><ul><br><li>Demonstrate up-to date, applicable knowledge regarding the impact and implications of the changing regulatory landscape on financial markets, instruments and institutions <\/li><br><li><br>Apply the study content to address, explore and analyse both socio-economic and compliance implications of digital transformation initiatives in the workplace<br><\/li><br><\/ul>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        The Course \u201cDigital Finance Law, Regulation and Implications\u201d is inspired by the constantly changing regulatory landscape of the European Financial Market. The more sensitive and inclusive regulation is becoming toward digitalisation; the more important it is for financial professionals to comprehend important regulatory requirements and to position digitalisation optimally in the workplace. <br><p>The course therefore operates with the following learning objectives:<\/p><ul><li>What is special about Fintech law and regulation? Regulatory implications of digitalisation. Changing regulatory landscape. Implications of regulatory changes on an individual\/institutional level.<\/li><li>EU Digital Finance package.<\/li><li>Regulatory approaches to innovation (such as regulatory sandboxes, innovation hubs, piloting schemes).<\/li><li>Technology as regulatory risk.<\/li><li>Digital Identiy, Know-your-customer, eKYC.<\/li><li>Regulation of crypto-assets.<\/li><li>Regulation of (Digital) Payment Systems (including Digital Currencies, CBDCs).<\/li><li>BigTech in Finance.<\/li><li>Funds &amp; FinTech.<\/li><li>RegTech &amp; e-compliance.<\/li><\/ul>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        100% written exam :\u00a0computer-based, in-class, at the end of the last session                    <\/div>\n                <\/li>\n                \n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b073\"\n        >\n            <span class=\"accordion__title\">\n                3.DTF5 Financial Services: Applications                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MSFE_2_DIGTRANS-7                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b073\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.DTF5 Financial Services: Applications<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MSFE_2_DIGTRANS-7<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.DTF: Specialisation &#8211; Digital Transformation in Finance Track<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> Yes<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            On completion of the course unit successful students will be able to:\u00a0<br><ul><li>Apply design tools to assess the feasibility of innovative service ideas before implementation<\/li><li>Present business ideas with all the related operational, legal, and technical aspects<\/li><\/ul><br><ul><li>Get familiar with the concepts around data and the role of data monetisation for a successful transformation journey\u00a0<\/li><li>Obtain a realistic view of the opportunities, risks, and limitations of the machine-cognitive technology<\/li><li>Understand Artificial Intelligence technologies and their practical utilisation in financial services<\/li><li>Exercise on a hands-on Fraud Detection and Prevention paradigm derived from real market request<\/li><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Financial services institutions are going through a massive digital transformation exploiting the potentials that Big Data and decentralisation technologies bring along. In response to this transformative landscape, financial professionals must comprehend the potential, applications, and challenges these technologies pose. This course is structured into two part. The first part emphasises service design, enabling students to leverage emerging technologies to address user needs in real-world scenarios. The second part focuses on the business, legal, operations, and technology aspects of digital transformation in financial services.<br><\/p>The first part of the course will equip students with knowledge and skills in service design. They will learn how to identify user needs, map user journeys, and design intuitive and user-friendly interfaces. Service design principles will be explored to ensure the technology solutions align with the end-user requirements and expectations, enhancing user adoption and overall user experience. Moreover, students will have the unique opportunity to participate in a Hackathon project with a global financial service institution. During this hands-on experience, students will collaborate in teams to ideate, design, and prototype innovative solutions to address real-world financial challenges. Under the mentorship of industry experts, students will gain practical insights into overcoming challenges, refining their ideas, and presenting their proposals effectively.<br>The second part starts by stressing the potentials that data may bring to organizations. It touches upon data monetization strategies and exemplifies novel data-driven business models in a rapidly increasing data economy. As Big Data and Artificial Intelligence (AI) technologies introduce new risks and challenges for traditional financial players, third-party dependency risks for technology integration, data protection risks, and increasing regulatory requirements set the scene. Another inherent matter of AI is its idiosyncratic nature that makes it heavily data-driven, limiting its scalability and reusability.\u00a0Students will open up the black-box of AI, discussing the technology&#8217;s genesis and following evolution while highlighting the fundamentals. The opportunities, challenges, limitations, and vulnerabilities will be scrutinized accordingly, together with the regulatory challenges and ethical implications. The lectures will raise considerations and provide examples in which modern technology compromised privacy on anonymized data and provide suggestions to mitigate such risks. Finally, students will have the chance to design a Fraud Detector simulating a realistic request from a bank. They will go through a design thinking process (understand, define, ideate, prototype, and test), deep diving into a fraudster&#8217;s behavior, deal with the data, or the lack of it as well as the integration and operating model of a Fraud Detector in a bank.<br>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>40% group presentation:\u00a0Hackathon project in the first part<\/p><br><p>10% group report:\u00a0Report with summary of hackathon in the first part<\/p><br><p>30% group project in the second part<\/p><br><p><br>20% individual m<br>aterial on the second part<br><\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Literature for the first part will be provided during the lecture.<br><br>Literature for the second part:<br><ol><br><li><br>S. Gupta, Driving Digital Strategy, Harvard Business Review Press, 2018<br><\/li><br><li><br>T. Davenport, J. Harris, Competing on Analytics, Harvard Business Review Press, 2017<br><\/li><br><li><br>Artificial Intelligence: Opportunities, Risks and Recommendations for the Financial Sector<br>, CSSF, 2018<br><\/li><br><li><br>Report on Big Data and Advanced Analytics<br>, EBA, 2020<br><\/li><br><li><br>DAMA-DMBOK: Data Management Body of Knowledge<br>(2nd Edition), 2017<br><\/li><br><li><br>V. Mayer- Sch\u00f6nberger, Big Data: A Revolution That Will Transform How We Live, Work, and Think, 2014<br><\/li><br><\/ol><br><br>                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b095\"\n        >\n            <span class=\"accordion__title\">\n                3.E1. Behavioral Finance                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-6                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b095\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.E1. Behavioral Finance<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-6<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.E: Special Topics in Finance &amp; Economics &#8211; Electives II<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :<br><\/p><br><ul><br><li>Know anomalies in finance and economics and understand theoretical explanations<\/li><br><li>Know the foundations of behavioural finance and behavioural economics<\/li><br><li>Understand human behaviour<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        \u00a0The course: <ul><li>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.<\/li><li>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.<\/li><\/ul>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Written exam (2 hours)                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Literature:<\/p><br>\u00a0<br><ul><br><li>Barberis and Thaler 2003. \u201cA survey of behavioral finance.\u201d Handbook of the Economics of Finance, 1, 1053-1128<\/li><br><li>Dhami, Sanjit, 2016, Foundations of behavioral economic analysis. Oxford University Press<\/li><br><li>Gigerenzer and Selten (Eds.) 2002. Bounded rationality: The adaptive toolbox. MIT press<\/li><br><li>Hens, Thorsten and Kremena Bachmann, 2009, Behavioral Finance for Private Banking, Wiley<\/li><br><li>Kahneman and Tversky 1979 &#8220;Prospect Theory: An Analysis of Decision under Risk&#8221; Econometrica<\/li><br><li>Shleifer Andrei, 2001, Inefficient markets &#8211; An introduction to behavioral finance. Calderon Lectures in Economics<\/li><br><li>Thaler 1985 \u201cMental accounting and consumer choice\u201d. Marketing science, 4(3), 199-214<\/li><br><li>Thaler 1999 \u201cMental accounting matters\u201d. Journal of Behavioral decision making, 12(3), 183-206<\/li><br><li>Thaler and Johnson 1990 \u201cGambling with the house money and trying to break even\u201d. Management science 36, 643-660<\/li><br><li>Tversky and Kahneman 1992 \u201cAdvances in prospect theory\u201d. Journal of Risk and uncertainty, 5(4), 297-323<\/li><br><\/ul><br>Further readings will be communicated during the lectures.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b0b4\"\n        >\n            <span class=\"accordion__title\">\n                3.E2.Household Finance and Real Estate                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-7                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b0b4\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.E2.Household Finance and Real Estate<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-7<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.E: Special Topics in Finance &amp; Economics &#8211; Electives II<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :Carry out their original empirical work, do the critical reading of pertinent articles related to the question and know how to handle complex survey data.<\/p><br><ul><br><li>Carry out their original empirical work, critically read pertinent articles related to the research question and know how to handle real estate and complex survey data. <\/li><br><li>Critically assess the individual and social benefits of important financial products accessible to consumers.<\/li><br><li>Approach consumer financial markets with more empathy towards potential customers and design better functioning products and markets.<\/li><br><li><br>Familiarise themselves with real-world experience of household acquiring their own residence, financial savings, debt and investments, up to current developments.<br><\/li><br><\/ul><br><p><br>The course also equips students with a good understanding of commercial real estate market fundamentals across different property sectors. Students will become familiar with key valuation methodologies for property assessment, gain a comprehensive view of the real estate investment lifecycle from acquisition to disposition, and critically assess the opportunities and risks of various real estate fund vehicles and investment strategies employed by institutional investors.<br><\/p>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        The objective of the course is to understand how households use financial instruments to attain their objectives, with an emphasis on real estate investment. First, we review the empirical facts on household wealth and inequality, as well as the rational and behavioural aspects underlying consumer financial decision-making. We then study current household financial products and the competitive landscape in credit, investment, and advisory markets. A particular emphasis is placed on residential real estate as both a key asset and a source of debt for households, highlighting its role in wealth accumulation, risk exposure, and financial vulnerability. We also cover innovations in consumer financial products and the regulation of household finance, and provide an overview of recent research on residential real estate markets, including price dynamics, housing affordability, and the impact of macroeconomic and regulatory shocks.<br> The course includes a group project in which students apply the concepts covered in class and deliver a presentation. We introduce two key data sources: one on household finance and one on residential real estate. These datasets are discussed in class and Stata tutorials guide students on how to prepare their dataset for their own project and how to apply basic estimation techniques on household surveys or on real-estate data collected from online advertisements.<br>The commercial real estate module explores the main commercial real estate (CRE) categories, core investment fundamentals and key real estate fund management practices. Students will build a foundation of the CRE sector, navigate the investment process, and gain insight into how institutional investors manage real estate funds. The course is designed to bridge academic theory with real-world application, reflecting current market realities and the decision-making frameworks used by investment firms and fund managers. With its industry-oriented approach, the curriculum equips students for careers in real estate asset management, fund management, and related fields by emphasizing the skills and perspectives most valued by employers in the sector.<br>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul><br><li>Oral exam (45%)<\/li><br><li>Presentation (45%)<\/li><br><li>Active participation (10%)<\/li><br><\/ul>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p><br>A comprehensive reading list of recent academic publications, working papers and market reports, is available from the instructors.<br><\/p>                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b0fd\"\n        >\n            <span class=\"accordion__title\">\n                3.E3.Financial Engineering                 <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-8                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b0fd\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.E3.Financial Engineering <\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-8<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.E: Special Topics in Finance &amp; Economics &#8211; Electives II<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to :<br><\/p><br><ul><br><li>Show proficiency in probability and statistics, calculus, programming and use these tools to model markets and drive decision making<\/li><br><li>Understand risk and analyze financial data<\/li><br><li>Design and implement complex financial models that allow financial firms to price and trade securities<\/li><br><li>Understand the current academic and practitioner literature on financial engineering<\/li><br><li>Get exposed to some of the most applicable machine learning techniques in finance considering that machine learning and Artificial Intelligence (AI) play a significant role in the creation of models<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Understanding risk and analysing data to drive policy and decision making is the name of the game in institutions like i.e. banks, insurance companies, hedge funds, and governments.Financial Engineering is the study of applying math, statistics, computer science, economic theory, and other quantitative methods to analysing and modelling financial markets. Financial engineers work at the intersection between data science and finance. The first financial engineers were Fischer Black, Robert Merton, and Myron Scholes, infamous for their options pricing model known as the Black-Scholes Model. This model won the Nobel prize in economics and is the foundation for the explosion in derivative markets.\u00a0                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        The final grade of the course will be derived from the grade for participation (25%), the presentation (25%) and the grade for the research paper (50%).                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Literature:<\/p><br>\u00a0<br>\u201cStatistics and Data Analysis for Financial Engineering\u201d, 2nd edition by David Ruppert and David <br>S. Matteson, Springer, ISBN 978-1-4939-2614-5 (eBook)<br>\u00a0<br>Research papers                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff72b122\"\n        >\n            <span class=\"accordion__title\">\n                3.E4.Professional seminars                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-9                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff72b122\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff72afa2\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 3.E4.Professional seminars<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-9<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 3.E: Special Topics in Finance &amp; Economics &#8211; Electives II<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>Fund Channel SA (professor: Olivier MARCY): In full autonomy, be able to select the reliable information sources, to analyze the information accuracy. Get the right information at the right moment, it is key and critical in finance.<\/p><br><p>Alternative liquid investments (professor: Edoardo ANCORA): At the end of the course the students will have a complete overview of the valuation techniques applied in Luxembourg for private equity, real estate and private debt. The students will be able to become familiar with the practical aspects to perform and assess a valuation of an alternative and illiquid investment.<\/p><br><p>Let&#8217;s set up an asset management business (professor: Nicolas DELDIME): Understand the strategic concerns of entrepreneurs who move to Luxembourg to do asset management. Have a holistic understanding of a regulated organizational model.<\/p>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        BCEE (professors: Yves BODSON, Philippe HENNES, Yves DOMINICY)<p>Risk Management: The first part of the lecture is an introduction to risk management answering the questions what risk is and what is risk management. The different types of risk in a bank will be introduced, as well as the Banking Union and the three lines of defense. In the second part of the lecture, we will concentrate on the credit risk, and we will be talking about credit scoring models.<\/p><p>Asset Classes and securitization: Presentation of the primary financial asset classes (key legal and economical definitions, interaction between economic and financial cycles, valuation criteria applicable to fixed income instruments and to equities, risk categories and key measurement tools) and of the securitization market (key concepts with references to the primary financial asset classes and evolving legal and economic landscape)<\/p><p>Corporate Banking: The presentation will address the management of the bank&#8217;s commercial relationship with corporate\/professional clients, with the main theme of business financing.<\/p><p>Fund Channel SA (professor: Olivier MARCY)<\/p><p>Information Hierarchy (Duality between, media objectives and public targeted, versus, financial resources)<\/p><p>Part I:<\/p><p>Brief history of the messages and the information channels and approach of the Media theories<\/p><p>News-papers &#8211; Information hierarchy<\/p><p>Part II:<\/p><p>Impact of the digitalization<\/p><p>Web platforms and social media &#8211; information hierarchy<\/p><p>Social Media information hierarchy \u2013 (student presentations \u2013 2\/4 per groups)<\/p><p>\u00a0<\/p><p>Alternative liquid investments (professor: Edoardo ANCORA)<\/p><p>In a time of low-interest, low inflation and high turbulence in Stock Exchanges, investment managers are engaged in the hunt of higher yields like never before, starting to explore the alternative and illiquid investment space. <\/p><p>In this context, a key skill required is the capability to properly value alternative and illiquid assets. During the course we will explore the main alternative investments (private equity, real estate, and private debt) and the typical valuation techniques applied by investment managers in Luxembourg.<\/p><p>\u00a0<\/p><p>Let&#8217;s set up an asset management business (professor: Nicolas DELDIME)<\/p><p>1. Asset management is a regulated profession. What does it mean to practice a regulated profession?<\/p><p>2. Build an organizational model (governance, staffing, insourcing \/ outsourcing, different stakeholders)<\/p><p>3. Build a business plan<\/p><p>4. Review of a practical case<\/p>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>BCEE (professors: Yves BODSON, Philippe HENNES, Yves DOMINICY): 3 hours written exam<\/p><br><p><br>Fund Channel SA (professor: Olivier MARCY): 20mn presentation during course period<br><\/p><br><p>Alternative liquid investments (professor: Edoardo ANCORA) :1 hour written exam<\/p><br><p>Let&#8217;s set up an asset management business (professor: Nicolas DELDIME): 1 hour written exam<\/p><br><p>The final grade is the aggregation of the 4 exams&#8217; grade (weighted \/ Teaching Units)<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p><br>Literature<br><\/p><br><p><br><\/p><br>Information Hierarchy &#8211; Fund Channel SA (professor: Olivier MARCY):<br>Digital Platforms :<br>Fundchannel.com<br>Bloomberg.com<br>Morningstar.com<br>Fundinfo.com<br>Fundsquare.net<br>SwissFundData.ch<br>six-group.com<br>Books :<br>Media et Soci\u00e9t\u00e9 (Francis Balle \u2013 Montchrestien \u2013 7\u00e8me Edition &#8211; 2019)<br>Culture Num\u00e9rique (Dominque Cardon \u2013 Les presses de Sciences Po, Coll. \u00ab Les petites humanit\u00e9s \u00bb 2019)<br>Histoire des M\u00e9dias (Jacques Attali Fayard \u2013 2021)<br>Deux Mille Mots pour dire le Monde ( Henriette Walter \u2013 Bouquins \u2013 2021)<br>Histoire politique de la roue (Rapha\u00ebl Meltz \u2013 Librairie Vuibert \u2013 2020)<br>Histoire de la Rue de l\u2019Antiquit\u00e9 \u00e0 nos Jours ( Danielle Tartakowsky \u2013 Tallandier 2022)<br>Les Algorithmes font la loi (Aur\u00e9lie Jean \u2013 Livre de poche &#8211; 2023)<br>Histoire Mondiale des Imp\u00f4ts de l\u2019Antiquit\u00e9 \u00e0 nos jours (Eric Anceau, Jean-Luc Bordon Pass\u00e9s \/ Compos\u00e9s \u2013 2023)<br>No Crypto ( Nastasia Hadjadji \u2013 2023)<br>Technopolitique (Asma Mhalla \u2013 Seuil \u2013 2024)<br>Newspapers MultiMedia Platforms :<br>Financial Times (UK World Wide)<br>The New Yorker<br>BBC<br>The Economist<br>South China Morning Post<br>Jeune Afrique<br>Les Echos (FR)<br>L\u2019Echo De Tijd (BE)<br>Handelsblatt\u00a0 (DE)<br>Beaux Arts Magazine (FR)<br>Le courrier International<p><\/p><p>Let&#8217;s set up an asset management business (professor: Nicolas DELDIME):Circular Commission de Surveillance du Secteur Financier 18\/698<\/p>                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>    <\/div><\/div><\/section>\n<section\n    id=\"tabpanel-c2f8b154-d526-44fe-9882-b40d24b29499\"\n    aria-labelledby=\"tab-c2f8b154-d526-44fe-9882-b40d24b29499\"\n    class=\"tab-panel fade hidden is-hidden\"\n>\n    <div class=\"wp-block-unilux-blocks-course-offer\">\n    <h3>Course offer for Digital Transformation in Finance, Semestre 4 (2025-2026 Summer)<\/h3>\n    \n<div id=\"accordion-module-69d65ff731cb4\" class=\"accordion accordion--theme\">\n            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731cef\"\n        >\n            <span class=\"accordion__title\">\n                4.E1.Design Execution and Evaluation of  Research in Finance and Economics                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-12                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731cef\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E1.Design Execution and Evaluation of  Research in Finance and Economics<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-12<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to:<br><\/p><br><ul><br><li><br>Execute an academic research project: identify a research question, position it in the context of current literature, formulate hypotheses and apply appropriate methodology to test them, present results and discuss the implications of the analyses that have been carried out; critically assess academic research and the work of peers.<br><\/li><br><\/ul><br><ul><br><li><br>The course is intended to equip students with the necessary knowledge and tools to carry out independent research and prepare them for the master thesis \u2013 either academic or the research section of the applied thesis.<br><\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        The course aims at developing and strengthening students\u2019 academic skills in identifying and analyzing research questions, applying research methods in finance and economics to approach these questions, and interpreting results relative to the current state of the art.The course is centered around a set of research projects in Finance and Economics that students carry out in small research teams. Each team focuses on an individual research project and carries it out along all its stages, from identifying a research question and motivating its relevance to choosing appropriate methodology to address it, executing the analysis, and presenting and interpreting the results.The course is structured as follows:<p>1. Introductory session on a selected set of research topics, providing guidance on identifying each respective research question, on the appropriate research methodology and empirical strategy, the respective data to use for the empirical analysis, and related literature.<\/p><p>2. Execution stage during which research teams plan and conduct their chosen research projects.<\/p><p>3. Student presentation sessions at each stage of the execution of the research projects:<\/p>3.1.\u00a0\u00a0\u00a0\u00a0\u00a0Research idea\/question, motivation behind it and current state of the art.3.2.\u00a0\u00a0\u00a0\u00a0\u00a0Research methodology, empirical setup, development of hypotheses, overview of the data needed to address the research question.Execution and analysis of results, potential further areas of inquiry, conclusion.                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>60% Seminar paper<\/p><br><p>30% Presentation<\/p><br><p>10% Discussion<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Academic articles that represent the key references for the set of research projects distributed ahead of the course.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731d1e\"\n        >\n            <span class=\"accordion__title\">\n                4.E2 Financial Econometrics                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-22                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731d1e\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E2 Financial Econometrics<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-22<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            Upon successful completion of this course students will be able to:<br><ul><br><li><br>Model the time varying conditional variance of time series data;<br><\/li><br><li><br>Apply state-of-the-art risk measurement and risk management techniques<br><\/li><br><li><br>Assess the performance of the econometric models in describing the time varying VaR<br><\/li><br><li><br>Critically appraise risk management systems<br><\/li><br><\/ul><br>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Part 1 \u2013 BackgroundRisk Management and Financial ReturnsHistorical Simulations, Value-at-Risk and Expected ShortfallA Primer on Financial Time Series AnalysisPart 2 \u2013 Univariate Risk ModelsVolatility Modeling Using Daily DataVolatility Modeling Using Intraday DataNonnormal DistributionsPart 3 \u2013 Multivariate Risk ModelsCovariance and Correlation ModelsSimulating the Term Structure of RiskDistributions and Copulas for Integrated Risk ManagementPart 4 \u2013 Backtesting and Stress Testing                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        2h written exam                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p><\/p><br>The reference books for this course are:<br>&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br>Elements of Financial Risk Management, Elsevier, ed. 2, Peter F. Christoffersen, 2012<br>&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br>Risk Management and Financial Institutions, Wiley, ed. 3, John Hull, 2012 (optional)<br>&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br>Financial Risk Manager Handbook, Wiley, ed. 5, Philippe Jorion, 2009 (optional)<br>                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731d40\"\n        >\n            <span class=\"accordion__title\">\n                4.E3 Statistics in risk management using R &#8211; French                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-16                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731d40\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E3 Statistics in risk management using R &#8211; French<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-16<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> FR<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>Objectifs:<br><\/p><br><p><br>Savoir manipuler le logiciel R pour des analyses de donn\u00e9es<br><\/p><br><p><br>Comprendre la notion de risque financier et son estimation en utilisant les fonctionnalit\u00e9s du logiciel R<br><\/p><br><p><br>Savoir faire une analyse \u00e9conom\u00e9trique de s\u00e9ries temporelles en utilisant le logiciel R<br><\/p>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Le premier chapitre du cours consiste \u00e0 apprendre \u00e0 manipuler le logiciel R, notamment afin d\u2019avoir acc\u00e8s \u00e0 des donn\u00e9es financi\u00e8res et de les analyser. Nous \u00e9tudierons en particulier comment cr\u00e9er des s\u00e9ries temporelles, utiliser des indicateurs statistiques, faire une analyse technique et graphique \u00e0 l\u2019aide du logiciel R.\u00a0 Le deuxi\u00e8me chapitre s\u2019int\u00e9resse au concept de risque financier d\u2019un actif et d\u2019un portefeuille d\u2019actifs au travers de la notion de rendement, de volatilit\u00e9, de calcul d\u2019indicateurs de performance ajust\u00e9s au risque et d\u2019optimisation de portefeuille. Nous d\u00e9velopperons la notion de risque au travers d\u2019indicateurs statistiques tenant compte des risques extr\u00eames. Dans tous ces chapitres, les s\u00e9ries temporelles sont \u00e9tudi\u00e9es en faisant une analyse \u00e9conom\u00e9trique des donn\u00e9es financi\u00e8res. Les applications qui illustrent le cours sont enti\u00e8rement men\u00e9es \u00e0 partir du logiciel R. Les \u00e9tudiants doivent avoir t\u00e9l\u00e9charg\u00e9 le logiciel R avant de venir \u00e0 la premi\u00e8re s\u00e9ance du cours en utilisant le lien suivant\u00a0: https:\/\/cran.r-project.org\/bin\/windows\/base\/                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Examen \u00e9crit de 2 heures pendant la p\u00e9riode de cours                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Bilbiographie :<\/p>Analyse des s\u00e9ries temporelles, 5e \u00e9dition, de R. Bourbonnais et V. Terraza, chez Dunod 2022<br>Analyse Statistique pour la gestion bancaire et financi\u00e8re, applications avec R, de V. Terraza et C. Toque, chez De Boeck, 2013<br>Mod\u00e9lisations de la Value at Risk &#8211; Une \u00e9valuation de l\u2019approche Riskmetrics de V. Terraza Editions Universitaires Europ\u00e9ennes &#8211; 2010\u00a0<br>Le livre de R, apprentissage et r\u00e9f\u00e9rence, de B. Desgraupes, chez Vuibert, 2013<br>S\u00e9ries temporelles avec R, de Y. Aragon, chez Springer, 2011                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731d5e\"\n        >\n            <span class=\"accordion__title\">\n                4.E4. Incubator Course: Cases of Modern Finance                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-26                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731d5e\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E4. Incubator Course: Cases of Modern Finance<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-26<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the module unit successful students will be able to:<br><\/p><br><ul><br><li>Have a broader understanding about how emergent financial technologies are changing the standard Financial Architecture and its implications for financial institutions<\/li><br><li>Have a better understanding of how emergent FinTech developments will change the financial products available<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>This incubator course aims to <\/p><ul><li>Educate students about the disruptive effects of advanced technologies in the financial sector, with a leading focus on asset management, instruments and advanced data analytics.<\/li><li>Raise awareness on both the socio-economic and the performance implications of innovation diffusion.<\/li><li>Provide both academic and industry-strength underpinning for the future of finance.<br><\/li><\/ul>The incubator course consists of two parts. Each part includes both lectures lectures and practical case work in groups. The practical case works, as well as the lectures are offered by a residing institutional \/ industry partner of this course. Students are asked to provide solutions to the presented case studies, based on a problem-based discovery. <br>The first block is concentrating on the notion \u201cFinancial architecture\u201d in the context of asset management and administration. It discusses the disruptive effects of peer2peer technologies, such as blockchains, through industry-strength case studies. Below, the skeleton of this block is provided as follows:The second block is concentrating on the notion \u201cadvanced data analytics\u201d in the context of asset management and administration. In an ever-changing environment, Investment Banks face many challenges: regulatory compliance, business model review and increased competition. At the same time, the financial sector is witnessing a huge digital transformation, particularly with the advent of new technologies. Artificial intelligence, Distributed Ledger Technology, API and Big data, how can new tools bring solutions to financial institutions?This block would kick-off with a lecture on investment banking. Through its organizational structure and its businesses, themes common to the world of banking and investment will be discussed. Case studies are introduced and discussed in order to propose a digital solution in response to the case problem at hand. Below, the skeleton of this block is provided as follows:Conclusion<ul><li>General Introduction<\/li><li>Introduction to the Financial Architecture<\/li><li>Business Models of Banks<\/li><li>Business Models of the Asset Management Industry<\/li><li>Trading Platforms and their Market Microstructure<\/li><li>Introduction to Blockchain Peer-to-peer platforms<\/li><li>The Blockchain Market Microstructure\u00a0<\/li><li>Business Models of FinTech Credit Platforms<\/li><li>Recent developments about Financial Products on Peer-to-peer platforms<\/li><li>Workshop: Liquidity pools and automated market makers (instrumentalising flash swaps and loans)<\/li><li>Conclusion: A perspective on the changing Financial Architecture in light of recent technological developments.<\/li><\/ul><ul><li>A practical application of Performance and Risk management measures in finance <\/li><li>Measures of return<\/li><li>The complexity of defining and measuring risk<\/li><li>How to find the best returns while minimizing the risk (measures of risk-adjusted return and its limitations)?<\/li><li>Can we use new technologies and Machine Learning for predicting stock price? How to observe the factors affecting assets?<\/li><li>Multifactor Models (Fama French, Carhart four-factor model): a linear approach<\/li><li>An Introduction to Decision trees (and random forest): a nonlinear approach<\/li><li>Workshop #1: Implementation of a basic strategy with alternative data: does ESG (Environmental, Social, and Governance) investment bring better performance?<\/li><li>Workshop #2: Compare linear and non-linear approaches in price prediction and understand the limitations<\/li><\/ul>                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        The final grade will be an oral presentation (100%)                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Literature:<\/p><br>Ayadi, R., Cucinelli, D. and De Groen P. (2019) \u00ab\u00a0Banking Business Models Monitor\u00a0: Europe\u00a0\u00bb<br>Halaburda, H., Haeringer, G., Gans, J. and Gandal, N. (2022) \u201cThe Microeconomics of Cryptocurrencies\u201d, Journal of Economic Perspectives forthcoming. \u00a0\u00a0<br>Lehar, A. and Parlour, C. (2021) \u201cDecentralized Exchanges\u201d, SSRN Working Paper.<br>Liberti, J.M. and Petersen, M.A. (2019) \u201cInformation: Hard and Soft\u201d, The Review of Corporate Finance Studies, 8(1), 1-41.<br>Valleee, B. and Zheng, Y. (2019) \u201cMarketplace lending: A new banking paradigm?\u201d, The Review of Financial Studies, 32(5), 1939-1982.<br>Verlaine, M. (2020) \u201cBehavioral Finance and the Architecture of the Asset Management Industry\u201d.<br>Stefan Jansen. (2020).\u00a0Machine Learning for Algorithmic Trading: Predictive models to extract signals from market and alternative data for systematic trading strategies with Python, 2nd Edition.<br>Chlo\u00e9-Agathe Azencott. (2018).\u00a0Introduction au Machine Learning.<br>Joachim H\u00e4cker, Dietmar Ernst. (2017).\u00a0Financial Modeling: An Introductory Guide to Excel and VBA Applications in Finance.<br>Jean Dermine. (2009).\u00a0Bank Valuation and Value-Based Management: Deposit and Loan Pricing, Performance Evaluation, and Risk Management.<br>John C. Hull. (2018).\u00a0Risk Management and Financial Institutions.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731d7e\"\n        >\n            <span class=\"accordion__title\">\n                4.E5 Topics in Well-being Research                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            5                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-28                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731d7e\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E5 Topics in Well-being Research<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 5<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-28<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Objectives<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>\n                            <p><br>On completion of the course unit successful students will be able to:<br><\/p><br><ul><br><li><br>Analyse different datasets with the STATA software<br><\/li><br><li><br>Have knowledge of a number of the empirical methods used to tackle theoretical questions<br><\/li><br><li><br>Have acquired advanced interdisciplinary knowledge.<\/li><br><\/ul>                        <\/p>\n                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Course learning outcomes<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        \u00a0                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        In this course, students will learn about the different theoretical and conceptual approaches used in the social sciences to analyze well-being and its determinants. After an introduction to the various methods proposed for the measurement of well-being, we will focus on its determinants and explore the relationship with income (including the Easterlin paradox), social position and mobility, as well as the role of adaptation and expectations. We will then move on to discuss societal well-being and the recent proposals to go beyond GDP as a measure of progress. Last, we will show how measures of individual well-being can be used to shed new light on important economic concepts such as income inequality, gender disparities and policy evaluation.                    <\/div>\n                <\/li>\n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Assessment<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <p>Seminar Paper (95%)<\/p><br><p>Active participation (5%)<\/p>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Recommended literature:<br>Balestra, C., Boarini, R. Ruiz, N. (2018).<br>Going beyond GDP: empirical findings, in: C. D\u2019Ambrosio (ed.), Handbook of Research on Economic and Social Well-Being, chapter 2, pages 52-103, Edward Elgar Publishing.<br>Blanchflower, D. G., Oswald, A. J. (2004). Well-being over time in Britain and the USA. Journal of Public Economics, 88, 1359-1386.<br>Blanchflower, D. G., Oswald, A. J. (2008). Is well-being U-shaped over the life cycle? Social Science Medicine, 66, 1733-1749.<br>Card, D., Mas, A., Moretti, E., Saez, E. (2012). Inequality at work: The effect of peer salaries on job satisfaction. American Economic Review, 102, 2981-3003.<br>Clark, A. E., Oswald, A. J. (1996). Satisfaction and comparison income. Journal of Public Economics, 61(3), 359-381.<br>Clark, A. E., Frijters, P., Shields, M. A. (2008). Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles. Journal of Economic Literature, 46, 95-144.<br>Clark, A. E., Lepinteur, A. (2019). The causes and consequences of early-adult unemployment: Evidence from cohort data. Journal of Economic Behavior Organization, 166, 107-124.<br>Clark, A. E. (2018). Four decades of the economics of happiness: Where next? Review of Income and Wealth, 64, 245-269.<br>Di Tella, R., MacCulloch, R. J., Oswald, A. J. (2001). Preferences over inflation and unemployment: Evidence from surveys of happiness. American Economic Review, 91, 335-341.<br>Easterlin, R. A. (1974). Does economic growth improve the human lot? Some empirical evidence. In Nations and Households in Economic Growth. Academic Press.<br>Fl\u00e8che, S. (2021). The welfare consequences of centralization: evidence from a quasi-natural experiment in Switzerland. Review of Economics and Statistics, 103, 621-635.<br>Giovannini, E., Rondinella, T. (2018). Going beyond GDP: theoretical approaches, in: C. D\u2019Ambrosio (ed.), Handbook of Research on Economic and Social Well-Being, chapter 1, pages 1-51, Edward Elgar Publishing.<br>Guio, A.-C. (2018). Multidimensional poverty and material deprivation: empirical findings, in: C. D\u2019Ambrosio (ed.), Handbook of Research on Economic and Social Well-Being, chapter 6, pages 171-193, Edward Elgar Publishing.<br>Layard, R. (2006). Happiness and public policy: A challenge to the profession. Economic Journal, 116, C24-C33.<br>Lepinteur, A. (2019). The shorter workweek and worker wellbeing: Evidence from Portugal and France. Labour Economics, 58, 204-220.<br>Luttmer, E. F. (2005). Neighbors as negatives: Relative earnings and well-being. Quarterly Journal of Economics, 120, 963-1002.<br>Oswald, A. J., Proto, E., Sgroi, D. (2015). Happiness and productivity. Journal of Labor Economics, 33, 789-822.                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731d9d\"\n        >\n            <span class=\"accordion__title\">\n                4.E6 Data Protection for Official Statistics                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            1                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_FE-12                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731d9d\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.E6 Data Protection for Official Statistics<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 1<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_FE-12<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span> Module 4.E Special Topics in Finance and Economics &#8211; Electives III<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Course learning outcomes<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        On completion of the course unit successful students will be able to:\u00a0-Distinguish between the various legal regimes applicable to data in the EU;-Identify the specific legal obligations relevant to their work;-Understand the core elements of the legal regime governing personal data in the EU;-Engage productively with legal professionals towards compliance with data-related obligations;-Apply best practices on data protection to their technical work.<br>                    <\/div>\n                <\/li>\n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Description<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Data is an essential input for statistical work. Increasingly, the processing of that data is subject to various kinds of legal requirements. Some of those requirements, such as those relating to information that is associated or can be associated with specific individuals (personal data), are meant to safeguard individuals and groups from potential risks related to the processing of their data. Others, such as data portability and interoperability requirements, are meant to maximize the positive externalities from data collection and usage. Amid this network of legal entanglements, professionals need to be able to identify their legal duties and the best ways to complying with them during their work activities.<br>This course aims to provide an overview of key legal concepts that are relevant for professionals who engage in activities involving the processing of personal data, with particular emphasis on the specific challenges that emerge in the context of official statistics. In particular, the course addresses the following concepts:<br>-The landscape of EU data law: personal data protection and other data-related pieces of legislation<br>-The scope of personal data protection: when are data protection obligations applicable?<br>-General rules and principles applicable to data processing<br>-Rights of the data subject<br>-Data protection by design and by default<br>-Cybersecurity as a data protection concern<br>-Special regime for research data<br>-Responsibility for data misuse                    <\/div>\n                <\/li>\n                \n                \n                \n                                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Note<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        Short readings will be shared with the students before the course. Additionally, the course will draw from the following background sources:<br>-Marco Almada, Law Compliance in AI Security Data Protection (European Data Protection Board 2025).<br>-Article 29 Working Party, \u2018Guidelines on transparency under Regulation 2016\/679\u2019 (2018).<br>-Laurence Diver and Pauline McBride, \u2018Argument by Numbers: The Normative Impact of Statistical Legal Tech\u2019 (2022) 3 Communitas: th\u00e9ories et pratiques de la normativit\u00e9.<br>-European Data Protection Board, \u2018Guidelines 4\/2019 on Article 25 on Data Protection by Design and by Default\u2019 (2020).<br>-European Union Agency for Fundamental Rights, Handbook on European data protection law (Publications Office of the European Union 2018).<br>-Mireille Hildebrandt, \u2018Law as Computation in the Era of Artificial Legal Intelligence: Speaking Law to the Power of Statistics\u2019 (2018) 68 University of Toronto Law Journal 12.<br>-Christopher Kuner, Lee A Bygrave and Docksey, Christopher (eds), The EU General Data Protection Regulation (GDPR): A Commentary (Oxford University Press 2020).<br>-Paul Ohm, \u2018Focusing On Fine-Tuning: Understanding The Four Pathways For Shaping Generative AI\u2019 (2024) 25 Columbia Science and Technology Law Review 214.<br>-Indra Spiecker gen. D\u00f6hmann and others (eds), General Data Protection Regulation: Article-by-article commentary (Beck; Nomos; Hart Publishing 2023).                    <\/div>\n                <\/li>\n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731dbe\"\n        >\n            <span class=\"accordion__title\">\n                4.Applied Master Thesis (including Internship)                 <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            20                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-19                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731dbe\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.Applied Master Thesis (including Internship) <\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 20<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-19<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span>  Module 4.DTF.MTI Applied Master thesis &amp; Internship<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                \n                \n                \n                \n                \n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>            \n<div class=\"accordion__item\">\n    <h4 class=\"accordion__header\">\n        <button\n                type=\"button\"\n                class=\"accordion__button collapsed\"\n                aria-expanded=\"false\"\n                data-bs-toggle=\"collapse\"\n                data-bs-target=\"#accordion-panel-69d65ff731ddf\"\n        >\n            <span class=\"accordion__title\">\n                4.Academic Master Thesis                <span class=\"accordion__data\">\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">ECTS credits:<\/span>\n                        <span class=\"accordion__data__value\">\n                            20                        <\/span>\n                    <\/span>\n                    <span class=\"accordion__data__item\">\n                        <span class=\"accordion__data__name\">Course code:<\/span>\n                        <span class=\"accordion__data__value\">\n                            MScFE_BK-20                        <\/span>\n                    <\/span>\n                <\/span>\n            <\/span>\n            <svg aria-hidden=\"true\" focusable=\"false\" class=\"icon icon-outline icon--arrow-down icon--lg\"><use xlink:href=\"https:\/\/www.uni.lu\/wp-content\/themes\/unilux-theme\/assets\/images\/icons\/icons-outline.svg#icon--arrow-down\"><\/use><\/svg>        <\/button>\n    <\/h4>\n\n    <div id=\"accordion-panel-69d65ff731ddf\" class=\"accordion__collapse collapse\" data-bs-parent=\"#accordion-module-69d65ff731cb4\">\n        <div class=\"accordion__body p-0\">\n            <ul class=\"list-highlighted\">\n                <li class=\"list-highlighted__item items-start\">\n                    <header class=\"list-highlighted__header\">\n                        <h5 class=\"text-18\"><strong>Details<\/strong><\/h5>\n                    <\/header>\n                    <div class=\"list-highlighted__body\">\n                        <ul>\n                            <li><span class=\"text-dark font-heading font-bold\">Course title:<\/span> 4.Academic Master Thesis<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Number of ECTS:<\/span> 20<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Course code:<\/span> MScFE_BK-20<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Module(s):<\/span>  Module 4.DTF.MTI Applied Master thesis &amp; Internship<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Language:<\/span> EN<\/li>\n                            <li><span class=\"text-dark font-heading font-bold\">Mandatory:<\/span> No<\/li>\n                        <\/ul>\n                    <\/div>\n                <\/li>\n\n                <!--<li class=\"list-highlighted__item items-start\">-->\n                <!--    <header class=\"list-highlighted__header\">-->\n                <!--        <h5 class=\"text-18\"><strong>--><!--<\/strong><\/h5>-->\n                <!--    <\/header>-->\n                <!--    <div class=\"list-highlighted__body\">-->\n                <!--        <div class=\"speaker-group\">-->\n                <!--            -->                <!--        <\/div>-->\n                <!--    <\/div>-->\n                <!--<\/li>-->\n\n                \n                \n                \n                \n                \n                \n            <\/ul>\n        <\/div>\n    <\/div>\n<\/div>    <\/div><\/div><\/section>\n<\/div>\n<\/div><\/section>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The didactical underpinning leverages on problem-based learning, enabling you to build the state-of the art scientific context around real-life cases, provided by residing industry representatives. You will also take part in an industry strength Hackathon, where you have the chance to come up with a financial service and\/or with a financial product on your own ! More information below!<\/p>\n","protected":false},"author":82,"featured_media":1367,"parent":1529,"menu_order":0,"template":"","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"Master in Finance and Economics - Digital Transformation in Finance","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"study_program_identifiers":"MSFE_2_DIGTRANS__F2_M_MSFE_3_DIGTRANS_4__F2_M_MSFE_4","override_seo_title":false},"type-of-studies":[],"teaching-languages":[],"field-of-interest":[],"organisation":[],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - 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