Risk Management provides an introduction to concepts and methods for modern financial risk management and to the ideas behind its regulation.
Key topics covered are:

• Introduction to risk management
• Risk measures: volatility, correlations, copulas, value at risk, expected shortfall
• Risk-neutral vs. real-world distributions
• Stress testing
• Market, credit, operational, liquidity, and model risk
• Rating agencies and credit ratings

• Interactive lectureExercises to be solved individually or in groups between classes

• After successful completion of the course, students willProfessional competencesunderstand the importance and the potential of financial risk management for financial practice.select and apply appropriate risk management techniques in practice.understand financial crises and their relation to (bad) risk management. - Methodological competencesestimate risk measures from financial data using a range of established models.value credit derivativesapply appropriate methods to identify and measure financial risks. - Technological competencesuse R for simple calculations.

Final written exam

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's 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.

> Learn how to structure a research 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
> Learn how to develop a thesis exposé

Presentation (30%)
Written exposé (70%)
Both parts need to be psitive
Obligatory Class Participation

• 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.

This optional module allows for various kinds of research studies. It is closely connected to the five units of the Liechtenstein School of Architecture and is usually part of ongoing research projects. The supervision consists of directing the students towards clear results within a given field of research. The individual study is reviewed within the respective unit.

Craft & Structure Unit:
Seven different projects have been developed over the last semester to determine and showcase various possibilities for the vast, unused space under the Cafeteria Building. With these fresh ideas in mind, this Independent Study is a continuation of these proposals. The main goal can be described as the further constructional and spatial development of one combined project. In detail, the focus will thus be on the creation of detailed plans, with specific material choices as well as the planning of the implementation phase, that will most certainly happen in the Summer Semester of 2026.
Furthermore, the use of local and sustainable material is shaping the possibilities for the project. This also requires research work with the
locally available construction material as well as opening up possible collaboration with local stakeholders such as “Zirkulie”. The construction should furthermore also be demountable and circular to allow a certain flexibility with this space. For instance, a winter and summer semester set up could open up a more adapted variation.
To test ideas, the building of mockups will be part of the workload. The course will consist of regular table talks with presentations as well
as an end critic with individual work that will all come together in one implementation project.

Self-defined design or research studies, developed individually or in groups agreed upon with research units and under the guidance of mentors. The size of the module is determined by the respective unit.

After successful completion of the course, students will be able to

None.
It is recommended to complete this course in the third semester. The prerequisite for admission is a subject registration and the approval of the responsible unit.

Minimum 75% compulsory attendance, regular meetings with instructors, continuous assessment, portfolio and final review.
The final grade is calculated according to the weighting of the following components: final submission (80%) and oral presentation (20%).

Individual appointments will be set with the tutor.

This optional module allows for various kinds of research studies. It is closely connected to the five units of the Liechtenstein School of Architecture and is usually part of ongoing research projects. The supervision consists of directing the students towards clear results within a given field of research. The individual study is reviewed within the respective unit.

Urban Design & Spatial Development Unit:
Current sustainability models do not take planetary boundaries into account and often imply that we have to give something up. In contrast, new models emphasise that we should do more of what is better. A mental shift is urgently needed to enable better decisions.

Given the changes needed in our societies, we need both exemplary individual projects and more comprehensive development approaches that integrate issues such as infrastructure, mobility, resources, energy, health, nutrition, ecological balance and climate
positivity to achieve greater leverage. Tracking productive, inclusive and regenerative approaches: Best practice projects are essential for communicating such strategies convincingly to nonexperts, communities and decision-makers.

During this Independent Study, students will identify, collect, analyse and describe relevant European and global projects and processes at various urban and rural scales. Depending on the desired workload, the scope of the research will be determined individually with the tutor before the start of the course.

This Independent Study is part of the ‘Building Capacity’ research focus of the Urban Design and Spatial Development Unit, which is established by Fabian Hörmann and Michael Wagner in 2025.

Self-defined design or research studies, developed individually or in groups agreed upon with research units and under the guidance of mentors. The size of the module is determined by the respective unit.

After successful completion of the course, students will be able to

Minimum 75% compulsory attendance, regular meetings with instructors, continuous assessment, portfolio and final review.
The final grade is calculated according to the weighting of the following components: final submission (80%) and oral presentation (20%).

no minimal enrolment, individual appointments will be set with the tutor, start, final submission and presentation can be individually defined with the tutor. Recommended reading will be made available at the beginning of the course.
Contact: fabian.hoermann@uni.li

This optional module allows for various kinds of research studies. It is closely connected to the five units of the Liechtenstein School of Architecture and is usually part of ongoing research projects. The supervision consists of directing the students towards clear results within a given field of research. The individual study is reviewed within the respective unit.

Urban Design & Spatial Development Unit:
Current sustainability models do not take planetary boundaries into account and often imply that we have to give something up. In contrast, new models emphasise that we should do more of what is better. A mental shift is urgently needed to enable better decisions.

Given the changes needed in our societies, we need both exemplary individual projects and more comprehensive development approaches that integrate issues such as infrastructure, mobility, resources, energy, health, nutrition, ecological balance and climate
positivity to achieve greater leverage. Tracking productive, inclusive and regenerative approaches: Best practice projects are essential for communicating such strategies convincingly to nonexperts, communities and decision-makers.

During this Independent Study, students will identify, collect, analyse and describe relevant European and global projects and processes at various urban and rural scales. Depending on the desired workload, the scope of the research will be determined individually with the tutor before the start of the course.

This Independent Study is part of the ‘Building Capacity’ research focus of the Urban Design and Spatial Development Unit, which is established by Fabian Hörmann and Michael Wagner in 2025.

Self-defined design or research studies, developed individually or in groups agreed upon with research units and under the guidance of mentors. The size of the module is determined by the respective unit.

After successful completion of the course, students will be able to

None.
It is recommended to complete this course in the third semester. The prerequisite for admission is a subject registration and the approval of the responsible unit.

Minimum 75% compulsory attendance, regular meetings with instructors, continuous assessment, portfolio and final review.
The final grade is calculated according to the weighting of the following components: final submission (80%) and oral presentation (20%).

no minimal enrolment, individual appointments will be set with the tutor, start, final submission and presentation can be individually defined with the tutor. Recommended reading will be made available at the beginning of the course.
Contact: fabian.hoermann@uni.li

This optional module allows for various kinds of research studies. It is closely connected to the five units of the Liechtenstein School of Architecture and is usually part of ongoing research projects. The supervision consists of directing the students towards clear results within a given field of research. The individual study is reviewed within the respective unit.

Urban Design & Spatial Development Unit:
Current sustainability models do not take planetary boundaries into account and often imply that we have to give something up. In contrast, new models emphasise that we should do more of what is better. A mental shift is urgently needed to enable better decisions.

Given the changes needed in our societies, we need both exemplary individual projects and more comprehensive development approaches that integrate issues such as infrastructure, mobility, resources, energy, health, nutrition, ecological balance and climate
positivity to achieve greater leverage. Tracking productive, inclusive and regenerative approaches: Best practice projects are essential for communicating such strategies convincingly to nonexperts, communities and decision-makers.

During this Independent Study, students will identify, collect, analyse and describe relevant European and global projects and processes at various urban and rural scales. Depending on the desired workload, the scope of the research will be determined individually with the tutor before the start of the course.

This Independent Study is part of the ‘Building Capacity’ research focus of the Urban Design and Spatial Development Unit, which is established by Fabian Hörmann and Michael Wagner in 2025.

Self-defined design or research studies, developed individually or in groups agreed upon with research units and under the guidance of mentors. The size of the module is determined by the respective unit.

After successful completion of the course, students will be able to

Minimum 75% compulsory attendance, regular meetings with instructors, continuous assessment, portfolio and final review.
The final grade is calculated according to the weighting of the following components: final submission (80%) and oral presentation (20%).

no minimal enrolment, individual appointments will be set with the tutor, start, final submission and presentation can be individually defined with the tutor. Recommended reading will be made available at the beginning of the course.
Contact: fabian.hoermann@uni.li

Das Kolloquium gibt den Studierenden die Möglichkeit, ihr Forschungsprojekt methodisch und inhaltlich vorzustellen, zu diskutieren und entsprechend zu verbessern. Neben kurzen Input-Vorträgen von Dozierenden werden die Studierenden ihr Forschungsprojekt vorstellen. Im Anschluss diskutieren sie dieses mit Dozierenden und den Mitstudierenden. Ziel ist es, die Forschungsfrage weiter zu schärfen und das methodische Vorgehen zu verbessern.

Präsentationen, Fallstudien, Diskussionen

Exposé des Forschungsprojektes

Exposé des Forschungsprojektes

Joint interdisciplinary study trip, in which students from the three Executive Master Degree Programmes gain knowledge about programme-related and interdisciplinary topics in relation to the financial hubs of Hong Kong and Singapore. The specialised knowledge attained on location will be linked to the knowledge already obtained during the programme. This shall be presented to experts with regard to a given programme-related topic and discussed using (legal) comparisons.

Interaktive Vorlesungen mit Fallbeispielen, Workshops, Vorträge.

Die Studierenden erwerben folgende Fachkompetenzen:
Sie kennen
• die einschlägigen Jurisdiktionen vor Ort sowie die signifikanten Unterschiede zum Heimatrecht;
• die rechtliche Behandlung von Gesellschaften des Zielorts und können die im Studiengang erworbenen Kenntnisse anwenden.

Erstellung einer Präsentation mit Vortrag und intensiver Diskussion im Ple-num/Teilnahme an der Studienreise. Abweichend davon kann die Prüfungs-leistung durch die Studienleitung ebenso eine wissenschaftliche Ausarbei-tung einer Seminararbeit/Teilnahme an der Studienreise vorsehen. Die ge-nauen Modalitäten werden durch die Studienleitung im Rahmen der Vorbe-reitung der Studienreise rechtzeitig bekannt gegeben.

Alternativ kann ein frei wählbares Modul der anderen angebotenen Executive Masterstudiengänge (z.B. in International Taxation oder in Bank- und Finanzmarktrecht) abgeschlossen werden. Ebenfalls besteht die Möglichkeit, eine schriftliche Case Study im Rahmen des „I&F Family Wealth Preservation Award“ zu bearbeiten. Insgesamt können nur zwei der drei Wahlmodule ersetzt werden. Mindestens eines dieser Wahlmodule (Module 5 bis 7) muss als Vorlesungsmodul besucht werden.