University of Luxembourg Faculty of Law, Economics and Finance – Driven by values University of Luxembourg
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Faculty of Law, Economics and Finance – Driven by values

The University of Luxembourg’s Faculty of Law, Economics and Finance during the past academic year continued its development in research, teaching, international relations and other outreach activities.

Operating in a constantly changing environment, the Faculty of Law, Economics and Finance continues to work within a defined set of values – excellence, reliability and social responsibility – essential to shaping its activities and bringing stability even during challenging circumstances.

Commitment to excellence

The Faculty’s commitment to excellence was highlighted by the positive results of the external research evaluation, which were announced by the Luxembourg Ministry for Higher Education and Research in February 2017. The results confirmed the high quality of research carried out at the Faculty’s three research units.

Bridging the research-practice divide, Prof. Mahulena Hofmann, Prof. André Prüm and Guest Prof. Jean-Louis Schiltz were involved in the development of Luxembourg’s ambitious space law bill. Elsewhere, numerous conferences and other events in FinTech enabled regular exchange between academics and the financial services sector.

In addition, for the third consecutive time, the Faculty’s administration and administrative management were certified to ISO 9001 standard. The ISO certification is a recognition of efforts to continuously improve administrative services, with annual external audits carried out to ensure adherence to rigorous standards.

Reliable partner

In January 2017, the Faculty launched the inaugural edition of a new professional education programme, the Certificate in Law and Regulation of Inclusive Finance. Organised as a result of the ADA Chair in Financial Law (Inclusive Finance) partnership, the certificate saw a group of 22 students from 14 countries take part to gain expertise in this emerging field of law.

With previously established cooperations thus bearing fruit, the Faculty also signed a Memorandum of Understanding for a new Chair in Capital Markets and Post Trade, expected to be recruited in 2018.

On the level of international relations, agreements signed with universities in Brazil in 2016 were filled with life, enabling dynamic exchange between the University of Luxembourg and the University of São Paulo, Insper and Ibmec. Visits to universities in Ukraine and China strengthened these partnerships while also opening up prospects for additional future partners.

Social responsibility

Among its partners worldwide, the Faculty also counts two universities in Bamako, Mali, as well as the National University of Laos. Both projects are carried out under the auspices of cooperation agreements with the Luxembourg Ministry of Foreign Affairs. A visit to Laos by a group of junior researchers in 2017 allowed for exchange on best practices in research. Three researchers from Mali on the other hand were able to travel to Luxembourg to benefit from resources and expertise here for their studies.

To fulfil its aim of educating engaged citizens and participating in public discourse, the Faculty, for example, hosted a student-driven workshop in the framework of the Making Europe Again project, addressing citizens across Europe to develop a new manifesto for the future of the European Union. A group of 65 students and staff participating in the ING Night Marathon 2017 meanwhile were able to raise money for “Cooperation Humanitaire Luxembourg a.s.b.l.” which supports initiatives to end violence, abuse and exploitation of women and children in Nepal.

Outlook

Despite a difficult environment in 2017, the Faculty of Law, Economics and Finance was able to keep up its activities with minimal disruption, led by its guiding principles. Anticipating greater stability in the coming academic year, the Faculty is looking forward to marking the Master in Entrepreneurship and Innovation’s 10th anniversary. The Luxembourg School of Finance will celebrate 15 years. The Faculty will also officially launch its new Master in Logistics and Supply Chain Management. The first cohort of 17 students comes from 11 different countries and a variety of professional and academic backgrounds.

Most importantly, the start of the 2017-2018 academic year will see a new Dean, Prof. Katalin Ligeti, take over the leadership of the Faculty. Prof. Ligeti was elected by the Faculty’s academic staff in April 2017.

Photo: Prof. Stefan Braum, © Michel Brumat / University of Luxembourg