Liechtenstein Foundation Law:

• general information and basic principles
• liability
• formation
• entrepreneurial responsibility
• asset protection
• philanthropy

Liechtenstein Trust Law:

• historical background and basic principles
• Hague Convention
• formation
• dualism of ownership
• business enterprises
• asset protection
• philanthropy
• International and Intertemporal Tax Management for Natural Persons: Goals and Instruments
• National, International and European Taxation of Asset Structures: Development, Investment and Succession of Assets.
• National, International and European Taxation of Financial Instruments: Development, Investment and Succession of Assets.

Interactive lecture.

After successful completion of this module, students

• have at their disposal comprehensive knowledge regarding Liechtenstein Foundation and Trust Law
• are familiar with how Liechtenstein foundations and trusts may be used for the purposes of wealth structuring
• are familiar with the characteristics of the various legal entities and financial instruments as well as the national and international links to taxation of asset investments and structures;
• understand the goals connected with international and intertemporal tax management for cross-border asset investments and structures for natural persons as well as the particular instruments employed for achieving goals within the framework of tax management;
• have at their disposal comprehensive knowledge of national, international and European taxation regarding the development, investment and succession of assets and also with regard to asset investments and structures, including the Savings Tax Directive and the EU Savings Tax Agreement.

Extracurriculare Activities comprise of various activities that are not linked to the Curriculum of the MSc in Banking and Financial Management, which are optional and further support the studying of the Master programme.

• Risk modelling
• Strategical and tactical asset allocation
• International diversification
• Forecasting moments of asset returns
• Foreign exchange rate risks and management
• Portfolio management
• Performance analysis
• Behavioural finance
• Dividend policy
• Company valuation
• Legal and tax issues in financial decisions

Seminar

This seminar has the purpose to familiarise students with the different approaches to conduct research.
Students are required to review the existing literature, formulate a precise research question within the proposed field, select and apply the appropriate methodology and finally interpret their results. Purely descriptive results are not enough, but a structured interpretation and argumentation is expected.
The final paper has to reflect the structured approach of the research conducted.

• Students have at their command detailed knowledge of finance and have a critical understanding of the procedures and methods in the subject area
• Compiling and utilising available sources in order to acquire an overview of previously unfamiliar sub-areas
• Preparing research papers on assigned topics or shorter empirical or analytical research projects by applying exacting technical procedures and methods

.

• Research Exposé (30%)
• Final individual assignment (70%)

Financial Risk Management:

• Identifying, Measuring, and Management of Financial Risks
• Risk Categories and Associated Models: Market, Credit, Operational and Liqudity Risks
• Rating Agencies and Credit Ratings
• Derivatives Markets and Instruments: Forwards, Futures, Options, Swaps, Exotics, Credit Derivatives
• Pricing of Equity, Fixed Income, Currency, Commodity, and Credit Derivatives
• Hedging Using Derivatives
• Financial Engineering

Interactive lectures with exercises

After completion of the module, students realize both the importance and the potential of financial risk management. They relate financial risk management to other areas of finance and within financial institutions. In particular, they know about the risks associated with financial derivatives as well as their potential for applications in risk management and financial engineering.

• Understand fundamentals in risk management
• Identify, measure and manage financial risks
• Select and apply appropriate risk management techniques
• Know how derivatives and derivatives markets work
• Price financial derivatives
• Use Greek variables in risk management and financial engineering
• Devise and/or analyze derivatives strategies for speculation, hedging and arbitrage
• Combine basic instruments to achieve desired payoff structures/decompose payoff

structures into their basic components

Slides will be available via moodle.

See lectures within the module.

All aspects that have to be considered for writing a successful exposé and master thesis, like e.g. the fulfillment of formal requirements, the development of a research project and the correct choice of methodology for answering the research question.

Student Presentations and discussion
Self-study through reading announced literature at home.

After the completion of this module, the students have successfully handed in their Exposé for the master thesis and know how to conduct a research project. They have learned how to develop a research question, choose and discuss the methodology for answering it. They know how good research papers and theses look like and are able to transfer this knowledge into their own project.

> Formulate a research idea and develop a research question
> Narrow the research idea to a realizable size
> Choose and justify a research methodology
> Conduct a sound literature review
> Formulate an exposé in which the research project is described and justified
> Know and apply the scientific standards and writing principles of the University
> Discuss their project and integrate peer and professional feedback
> Give feedback on other research projects
> Organize their project in terms of literature, writing and time plan

See lectures within the module.

• Identification of a research problem and development of a research questionThematically formulating a problem and developing a solution through application of scientific methods Independence in handling a research problem determined in the course of an assessment.Discussion with the advisor about methodological and content issues in solving a research topic.Completion of a comprehensive assignment where the students deal with a theoretical or practice-oriented problem in their field of specialisation by drawing on scientific work methods. Completion of presentation documentation on a research problem within their specialised field. Defense of the elaborated research topic and in-depth discussion with the examination board.

After completion of the module, the students have acquired a detailed knowledge and a critical understanding of their research topic. They have at their disposal specialised knowledge of methods and procedures for processing data and explaining it in a structured manner.
Furthermore, they exhibit originality and creativity in the application of their knowledge.

The students complete research and development projects, applying specialised research methods, survey and development techniques by drawing on their previously acquired skills.
Additionally, they present the significant findings of their project to academic and real economy specialists, thereby utilising various communication methods in order to illustrate complex data on a scientific level.

Upon positive evaluation of the thesis module the Master's degree is awarded to the candidate.

• Evaluation of the written thesis paperPresentation and defense in front of the examination board

==> Presentation & Defence date is: ....
==> Submission deadline of the Master thesis is on .... 2019 at the Central Services Desk. Please check the website for opening hours: https://www.uni.li/de/universitaet/services/zentraleservicestelle
==> The digital version of your Master thesis is to be submitted via moodle using the course "Thesis Project". Please use the required naming as providedin the Guidelines for academic papers in Economics.
==> Submission Thesis: Please check Guidelines for academic papers in Economics (under Regulations and Forms).

Im Rahmen eines Praktikums, welches mind. 4 Monate Vollzeit dauert, wenden die Studierenden ihre BWL-Kenntnisse aus dem Studium an und reflektieren die Erfahrungen.
Durch die regelmässigen individuellen Gespräche mit dem Dozenten werden die Studierenden angehalten, ihre Lernziele zu formulieren und schrittweise zu schärfen. Die Fähigkeit organisatorische Abläufe zu beobachten und zu verstehen, um so zu verstehen, wie Organisationen funktionieren, bzw. warum welche Tätigkeiten (nicht) gemacht werden, wird geschärft.

• Praktikumstätigkeit im Umfang von mind. 4 Monaten Vollzeit
• Schriftliche Berichte, Individuelle Coachings und Beratungsgespräche mit dem Dozenten
• Lerntagebuch

Empfohlene Voraussetzungen:

Abschluss der Semester 1-3, um über ausreichend BWL-Kenntnisse zu verfügen, die im Praktikum eingesetzt und reflektiert werden sollen.

Notwendige Voraussetzungen:

Das Wahlmodul "Praktikum" kann nur nach Rücksprache mit dem Studienleiter belegt werden. Dabei werden Inhalt, Umfang, Anspruch und Bezug zu studienrelevanten Themen geprüft. Diese Abklärung hat mind. 2 Monate vor Beginn des Praktikums zu erfolgen.

Bei erfüllten Förderkriterien ist ein Erasmus-Stipendium für Auslandspraktika erhältlich (International Office).

• Schriftliche Ausarbeitung der Ausgangslage und der Zielsetzungen (siehe Kriterien für schriftliche Arbeiten; Klarheit der Zielsetzungen, Bezug zu Themen des Curriculums; Begründung für die Wahl der Zielsetzungen) (20%)
• Reflexionsberichte (mind. alle 2 Monate) und eigene Lernzielüberprüfung (30%)
• Eigenständigkeit bei der Anwendung theoretischer Modelle in der Praxis (Transferleistung); Arguementationen in Coachings (20%)
• Abschlussbericht (Lessons Learned) (30%)

• Recognising problems and analysing various topics in the area of financial services
• Handling ambitious practical problems in financial services like consulting projects and real portfolio management
• Developing customer-specific solutions
• Communicating with project client
• Presenting the final project report
• Working in a team in a project-oriented manner
• Mastering a portfolio under the supervision of a portfolio manager
• Working up all relevant information and data for portfolio management
• Structuring the strategic and tactical asset allocation
• Deciding on security selection

Practical project work

After completion of the module, the students have at their disposal practical experiences in handling a consulting project in the area of finance.

In the course of the assignment, they utilize a range of advanced procedures and techniques incorporated in the discipline and apply theoretical insights to practical solutions, so that they are directly prepared for their professional life.

Students develop original and creative answers for topics and problems and are able to evaluate the situation even without complete information.

They are able to reflect and enlarge their knowledge and capabilities. In addition, they master professional project assignment and presentation techniques and are trained to function in a team.

They are also able to assume responsibility within the team and to coordinate team assignments while taking into account the interest of the business.

See lectures within the module.

Master students have the opportunity to take part in educational journeys to the world’s most important financial centres. Taking place

Excursion

After successfull completion of this module, students

• know the role of international enterprises and organizations including banks, asset or hedge fund management services, portfolio managers, insurance companies, chambers of foreign trade, chambers of commerce, supranational organisations, ambassadors, politicians or universities in structuring the competitiveness of a financial market;
• know the specifities of the visited financial market;
• established an international and intercultural network.

See lecture within the module.

This module supports the development of basic communicative and cultural competence in Spanish.

Interaction, study skills

>understanding and passing on simple information
>taking part in simple everyday conversation
>reporting past events
>creating simple texts

Please bring the following book with you to the first meeting: eñe A1: Der Spanischkurs (Hueber Verlag).

80 % compulsory attendance