University of Luxembourg, Faculty of Law, Economics and Finance
Master in Finance and Economics – Sustainable Finance
Luxembourg City, Luxembourg
Master degree
DURATION
2 years
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
24 Mar 2026*
EARLIEST START DATE
Sep 2026
TUITION FEES
EUR 400 / per semester **
STUDY FORMAT
On-Campus
* non-EU: 1 Feb 2026 – 24 Mar 2026 | EU: 1 Feb 2026 – 24 May 2026
** 400€/ sem. (semester 3,4)
Make a difference for the environment with your career!
The Sustainable Finance track gives you the opportunity to network with professionals who have been pioneers in the sustainable finance industry and to obtain academic insights.
Why study sustainable finance?
Sustainable finance is an explosively evolving industry requiring the ability to constantly learn and innovate. By studying Sustainable finance, you would become a pioneer in a young and new industry by mastering academic knowledge and networking with industry experts.
Strengths
The skills of instructors range from managing and modeling sustainability risks to performing ESG due diligence of investments, through developing ambitious sustainability strategies for leading financial institutions and public administrations worldwide. It covers several diverse aspects of risk and opportunity related to sustainability in the economy of tomorrow, offering a theoretical ground.
- Improve your presentation skills
- Apply state-of-the art methods through ESG, taxonomy, and hedging risk applications.
- Build up your experience profile through an Internship
- Broaden your finance knowledge through Elective modules
- Follow the niche strategic priority of the government in Luxembourg
- Study in an international environment in a small group (20 students max), fully in English.
General University scholarships:
- Guillaume Dupaix International Master’s Scholarship
- Portabella Scholarship
Scholarships available for this programme:
- Advanzia Bank Scholarship
- Ferrero Fellowship
The Sustainable Finance track consists of five core courses (see below), electives and either an Internship and Applied Master Thesis or an Academic Master Thesis. All courses are supported by real case studies developed by sustainable finance practitioners. This strategy ensures that students gain practical knowledge that can be applied to the financial industry.
Attendance at second year courses is compulsory.
The courses of the first year are part of the main common programme and not track specific.
Course offer for Semester 1 (2025-2026 Winter)
- 1.F1.Financial Markets and Institutions – The Luxembourg Financial Centre
- 1.F2.Financial Accounting & Reporting
- 1.F3.Fixed Income Analysis
- 1.F4.Modern Portfolio Theory
- 1.F5.Microeconomics, Risk and Information
- 1.D1.Mathematics
- 1.D2.Statistics
- 1.D3.Econometrics I ( R )
- 1.D4.Econometrics I ( STATA )
- 1.O1.VBA
Course offer for Semester 2 (2025-2026 Summer)
- 2.F1.Asset Pricing Theory
- 2.F2.Macroeconomics and International Finance
- 2.D1.Econometrics II (R)
- 2.D2.Econometrics II (STATA)
- 2.E1.Financial Analysis and Valuation
- 2.E2.Corporate Finance
- 2.E3.Derivatives
- 2.E4.Financial Stability : Theory & Practice
- 2.E5.Economie monétaire internationale (Fr)
- 2.E6.Monetary Policy
- 2.E7.Contemporary Issues in Public Finance
- 2.E8.Economics of Innovation
- 2.E9.Public Policy Analysis
- 2.O1.Bloomberg
Course offer for Sustainable Finance, Semester 3 (2025-2026 Winter)
- 3.SFT1. Principles of Sustainable Finance
- 3.SFT2.Frameworks and Tools
- 3.SFT3.Investment Strategy, Implementation and Risk Management
- 3.SFT4.Sustainable Corporate Strategy, Creating out-Performance
- 3.SFT5 Regulation of Sustainable Finance
- 3.E1. Behavioral Finance
- 3.E2.Household Finance and Real Estate
- 3.E3.Financial Engineering
- 3.E4.Professional seminars
Course offer for Sustainable Finance, Semester 4 (2025-2026 Summer)
- 4.E1.Design Execution and Evaluation of Research in Finance and Economics
- 4.E2 Financial Econometrics
- 4.E3 Statistics in risk management using R – French
- 4.E4. Incubator Course: Cases of Modern Finance
- 4.E5 Topics in Well-being Research
- 4.E6 Data Protection for Official Statistics
- 4.Applied Master Thesis (including Internship)
- 4.Academic Master Thesis
Upon successful completion of this track, students will be able to:
- Appraise and challenge key approaches to sustainable finance;
- Examine the robustness of emerging practices and tools, from the perspective of multiple stakeholders;
- Assess the adequacy of investments, from project-level to an overall strategy level, in terms of risks and opportunities that investment and financing approaches entail;
- Develop effective sustainable strategies for both private and public financial institutions;
- Understand current rules, and foster new ambitious rules and standards for the industry;
- Evaluate and develop sound arguments on the looming controversies;
- Identify leaders and laggards in the industry;
- Be part of the next stream of innovation.
Luxembourg offers a dynamic and international job market. Graduates from the Master in Finance and Economics, based on their second-year specialisation, will be prepared for different career paths in Luxembourg or abroad, for example, with:
- Banks and other financial institutions
- Asset management firms
- Consultancy companies
- Industrial companies
- Insurance companies
- European or national financial institutions
- Financial administration
- Academia
The different tracks allow students to pursue their chosen field of specialisation while also offering a common foundation and the opportunity to explore the basics of each field. The result is a well-rounded education in finance and economics, enabling graduates to successfully enter the job market.