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Profile
The University
Goethe University Frankfurt am Main was founded in 1914 by prominent citizens of Frankfurt and is today one of Europe’s leading institutions of higher education.
It is a lively, urban, and cosmopolitan university which provides an excellent atmosphere in which to research, study, think, and create. With currently more than 41,000 students, including over 6,800 international students representing more than 130 nationalities, the University prides itself on a rich tradition of intellectual and cultural excellence.
Campus Westend is situated in close proximity to the main collections of the City and University Library, along with the various libraries of the University’s Faculty of Law and the Faculty of Business and Economics. The Deutsche Bibliothek, the national library and national bibliographic information center for the Federal Republic of Germany, is also located in Frankfurt. The library resources of the Deutsche Bundesbank are also accessible to students.
Students of the Institute for Law and Finance are full members of the University community and are eligible to use all facilities available to students of Goethe University.
The Law School
The Institute for Law and Finance is a non-profit foundation established in 2002 by Goethe University Frankfurt am Main with the support of many prominent institutions. Leading commercial banks and international law firms, the Frankfurt Chamber of Commerce and Industry, the City of Frankfurt and the State of Hesse, as well as the European Central Bank and the Deutsche Bundesbank have been actively involved in the ILF right from the planning stages until today.
Recognizing that young professionals require advanced training in both law and finance so as to excel in today’s financial world, the ILF offers a unique postgraduate program leading to a Master of Laws in Finance (LL.M. Finance). This Master’s program is aimed at students interested in combining theoretical knowledge and practical training in the specialized fields of law and international finance. Major banks, international law firms and public institutions, including the European Central Bank in Frankfurt, the German Bundesbank and leading financial regulatory institutions, play a significant role in the development and implementation of the program.
With the admission of 10 new member states to the European Union in 2004, the central role of Frankfurt in European and global finance is now even more pronounced. The ILF, which is located in Frankfurt, the major financial center in Europe, provides the ideal location to train young professionals to deal with the legal and financial challenges facing a Europe of 27 states and beyond.
In addition to its educational role, the ILF is also a center of competence for research and policy-making in the areas of law and international finance.
Location
Frankfurt City:
Since the Middle Ages, the city Frankfurt am Main has been a major trade and financial center at the crossroads of Europe’s trade routes. Today, as the leading financial marketplace in continental Europe, Frankfurt is the seat of the European Central Bank and international banks such as Deutsche Bank and Commerzbank. All major foreign banks are represented in Frankfurt: Citi, UBS, J.P. Morgan, SEB and many more. Thus, Frankfurt is at the center of European monetary policy and the European Economic and Monetary Union. Major public banking institutions, including the Deutsche Bundesbank and KfW Bankengruppe, one of the EU’s leading public credit institutions, are based in Frankfurt, as is one of the world’s largest stock exchanges, Deutsche Börse. Deutsche Börse also houses the world’s largest and most modern, all-electronic derivatives exchange, Eurex.
The region benefits from an outstanding telecommunication and transportation infrastructure. Frankfurt Airport is the leading airport in continental Europe and offers excellent connections within Europe and overseas. Frankfurt’s dense transportation network ensures a seamless connection to all road and rail links.
Frankfurt is an international meeting point for many. It offers many cultural
attractions, among them two opera houses, concert halls, theaters, and a great variety of museums and art galleries. Situated along one of Europe’s great rivers, the Main, Frankfurt is a vibrant city
Since 2008, the Institute for Law and Finance has been situated in the House of Finance located at Campus Westend of Goethe University. Right in the heart of Frankfurt City, Germany, Campus Westend of Goethe University is surrounded by a large park area with a beautiful campus atmosphere.
Our address is:
Institute for Law and Finance
Goethe-Universität Frankfurt
Campus Westend, House of Finance
Theodor-W.-Adorno-Platz 3
D-60323 Frankfurt am Main
Germany
LLM Course Structure
A.) LL.M. Finance
B.) LL.M. International Finance for Graduates from Asia
A.) Master of Laws in Finance (LL.M. Finance)
Coursework
In order to obtain the LL.M. Finance, students must have:
* a minimum of 60 credit points through coursework. Credit points are obtained by fulfilling the requirements of each course (e.g. prepared attendance, presentations and exams).
* a total of 12 graded courses for the year. To receive a grade for a course, you will have to attend the class regularly AND have to pass the appropriate examination(s).
Master’s Thesis
Students must submit a thesis of approximately 60 text pages on a subject agreed in consultation with the student’s thesis adviser. The candidates should show in the dissertation that they can carry out independent academic work and present the results appropriately. The final thesis will be reviewed by the student’s thesis advisor and by one additional examiner according to the regulations of the program. Recent LL.M. theses have included subjects such as financial relationships in the European System of Central Banks (ESCB), legal and regulatory issues of credit derivatives and the structuring of venture capital or private equity funds for the German market. Theses could potentially be on any subject related to course and/or internship work.
Internship
The LL.M. Finance degree program includes a two-month internship. The internship experience gives students an opportunity to test and deepen their understanding of the coursework. Thanks to our location in Frankfurt and the high caliber of our sponsors, students benefit from such unique internship opportunities. Internships are offered by leading international law firms in Frankfurt, major banks, accounting firms, the German financial regulatory body BaFin, the German Bundesbank, and the ECB. Internships expose students to the working environment and professional expectations of leading firms and institutions. The valuable opportunity to form contacts for potential career development is also highly appreciated by students. Internships are usually undertaken during the break between the winter and summer semesters (i.e., February/March). It is, however, possible to organize an internship during the summer break by prior arrangement.
Students, in consultation with the ILF, may apply to the law firm, financial institution or other organizations of their choice. The ILF assists students in finding suitable internship positions. Positions are awarded on a competitive basis, with student initiative and interest being the primary criterion for placement. Internships are not necessarily restricted geographically and positions outside of Germany are possible if a student takes the initiative to organize such an opportunity.
B.) Master of Laws in International Banking, Securities and Finance (LL.M. International Finance)
Coursework
In order to earn the LL.M. International Finance degree, students must acquire a minimum of 45 credit points through graded coursework. Credit points for a course are successfully acquired by receiving a passing grade as a result of fulfilling the specific requirements of the course (e.g. prepared attendance, presentations and exams). Students are required to attend all 11 courses offered in the program and have to pass at least 9 of the courses.
Master’s Thesis
Students must submit a thesis on a subject agreed in consultation with the student's thesis adviser. With the approval of the examinations committee, a thesis may also be completed by two students, provided that the part of each student allows for an individual grading of his or her work.
Extra-Curricular Courses
Basics of Financial Mathematics
Basics of European Union Law
Introduction to Legal Methods and Terminologies
Admission Requirements
A.) Master of Laws in Finance (LL.M. Finance)
The LL.M. Finance program is specifically designed for graduates who already have a first degree in law, business or economics from an accredited or recognized university. Therefore, if you possess a first degree in any of these subjects and have outstanding academic records, we would be happy to receive your application. Previous professional experience is not a requirement but an advantage. We admit a mix of students with and without prior working experience who will equally benefit from the program. Your proficiency in English must proven to surpass a level of TOEFL 600, CBT TOEFL 250, IBT TOEFL 100, Cambridge CAE (grade C or above) or IELTS 7.0 unless your native tongue is English.
The ILF limits its admissions to 60 students each year in order to ensure academic excellence and direct, personal contact between students and the faculty.
B.) Master of Laws in International Banking, Securities and Finance (LL.M. International Finance)
Graduates from Asia (especially mainland China, Hong Kong, Macau and Taiwan) holding a first degree in law, business or economics and who have good academic records are eligible to apply to join our LL.M. Finance Europe program. Your proficiency in English must proven to surpass a level of TOEFL 580, CBT TOEFL 237, IBT TOEFL 92 or IELTS 6.5 unless your native tongue is English.
Fees and Funding
The tuition fee of the LL.M. Finance program is set at 20,000 Euro (full-time) and 24,000 Euro (part-time).
The tuition fee of the LL.M. International Finance program is set at 18,000 Euro. Only 85% of tuition fees payable (€15,300) if applications are received by 15th January.
The fee covers tuition, the use of the ILF facilities, the use of the facilities at Goethe University, the conferment of the degree upon the successful completion of the program requirements, transcripts, degree certificates as well as selected extracurricular activities. It does not cover the costs of living (i.e. board and lodging), health insurance, teaching materials or computer consumables.
All enrolled students are subject to our Terms of Enrolment.
In exceptional cases for the LL.M. Finance program, a limited amount of financial aid in the form of scholarships granted for the tuition fees is available. Such scholarship funds are made possible by the generosity of the ILF sponsors. Financial aid usually takes the form of a partial funding of the tuition fees. It is awarded at the discretion of the ILF Admissions Committee based on merit as well as the applicant’s proven financial need.
The ILF does not provide any grant to students for the costs of living. Before being admitted to the ILF program, every student must satisfy the Admissions Committee that he/she is able to meet reasonable living expenses for the entire duration of the program.
As financial aid from the ILF resources is limited, we strongly recommend that you contact the international office of your home university for information on scholarships and grants for nationals of your country to study in Germany.
* The German Academic Exchange Service (DAAD) awards scholarships to university graduates from all academic disciplines. We recommend that students consult the DAAD website early in their application process: www.daad.de.
* Applicants below the age of 30 from Middle and Eastern Europe may apply for the Alfred Toepfer Scholarships which provide the sum of €920 per month for costs of living in Germany. For more details, please see www.toepfer-fvs.de/toepfer-stipendium.html.
LLM Faculty
The curriculum enables students to gain both a theoretical understanding and a practical insight into the specific skills required by banks and corporations, international law firms and consulting and accounting firms, the European Central Bank, the Deutsche Bundesbank and BaFin (German Federal Financial Supervisory Authority).
In addition to leading academics, our faculty consists of top practitioners in law, banking, central banking and financial regulation.
LLM Student Body
During their time at the ILF, our students not only gain professional
knowledge and experience, but also form close and long-lasting bonds with many of their classmates. The ILF student body is small, but nationally diverse. Our students come from many of the finest universities in over 30 countries in Europe, Asia, the Americas, and Oceania.
LLM Alumni Network
Upon graduation, our students continue to stay in touch both with the ILF and with each other. Alumni are invited to all guest lectures held by the ILF. In addition, the ILF regularly organizes meetings and get-togethers to which all alumni are invited.
A list of where some of our alumni are now…
Ashurst, Frankfurt am Main
Baker & McKenzie, Frankfurt am Main
Bundesministerium der Finanzen, Berlin
China Foreign Exchange Trading System, Shanghai
Clifford Chance, Amsterdam, Frankfurt am Main, Padua and
Moscow
Commerzbank, Frankfurt am Main
Credit Suisse, London
Deutsche Bank, Frankfurt am Main
Deutsche Bundesbank, Frankfurt am Main
DnB NOR Bank, Stockholm
European Bank of Reconstruction and Development,
London
European Central Bank, Frankfurt am Main
European Investment Bank, Luxembourg
Freshf ields Bruckhaus Deringer, Bahrain and London
Hengeler Mueller, Frankfurt am Main and London
J.P. Morgan, London
Linklaters, Frankfurt am Main
Luther, Shanghai
McKinsey & Company, Frankfurt am Main and Munich
Ministry of Finance of Georgia, Tbilisi
Norton Rose, Athens
PricewaterhouseCoopers, Frankfurt am Main
Ropes&Gray LLP, New York
Royal Bank of Scotland, London
Salans LLP, Almaty
SEB, Oslo
Standard Chartered Bank, Taipei
Threadneedle Investment, London
UBS AG, Zurich
Weil Gotshal, Frankfurt am Main
White & Case, Frankfurt am Main
Wolf Theiss, Sarajevo
Career Services
The ILF Internship Program:
The LL.M. Finance program includes a two-month internship period. The internship experience gives students an opportunity to test and deepen their understanding of the course work. The ILF assists students in finding suitable internship positions. Students, in consultation with the ILF, may apply to law firms, financial institutions or other organizations of their choice.
Positions are awarded on a competitive basis, with student initiative and interest being the primary determinants of placement. Thanks to our location in Frankfurt and the high caliber of our cooperation partners, students benefit from unique internship opportunities, which are offered by leading international law firms, major banks, consulting and accounting firms, BaFin (German Federal Financial Supervisory Authority) the Deutsche Bundesbank and the European Central Bank. Internships expose students to the working environment and the professional expectations of leading firms and institutions, and give them a valuable opportunity to form contacts for
potential career development. Internships are usually undertaken during the break between the winter and summer semesters (i.e. February/March). By prior arrangement, it is also possible to organize an internship during the summer break.
Internships are not necessarily restricted geographically, and positions
outside of Germany are possible if a student takes the initiative to organize
such an opportunity.
Facilities
With our location at the House of Finance at Campus Westend of the Goethe University, the ILF offers its students usage of the most modern equipment and facilities and state-of-the-art technology during their studies at the ILF. In addition, our students benefit from the increased contact and network opportunities available due to the presence of researchers and experts working in the field of law and finance at the House of Finance.
The House of Finance amalgamates the University’s interdisciplinary research on finance, monetary economics, and corporate and financial law under one roof. About 130 researchers with special interests in various aspects of finance from several academic research and training units will work together.
Students have access to the specialized library housed in the House of Finance, which is based on the extensive law collection of the former Institute of Foreign and International Business Law (AIW) and contains more than 40,000 volumes, including about 100 international periodicals.
We subscribe to the Jurisdata, LexisNexis and Westlaw databases, and through the City and University Library (Stadt- und Universitätsbibliothek), have electronic access to hundreds of legal, economic and financial journals.
A computer room allows students to access all databases and the internet with stationary desktops and numerous notebook cable sockets. ILF students can access the library and the computer facilities every day around the clock.
Student Accommodation
There are several accommodation options available to students in the Frankfurt area. The ILF offers a limited number of dormitory rooms owned by the University’s student services. Since the demand for these rooms is usually greater than the number of rooms available, they are reserved for students from abroad and allocated by lottery. Students interested in one of these rooms should inform us that they wish to participate the allocation
lottery. Other options include student housing facilities offered by various church organizations and other non-profit housing facilities. We strongly recommend that students contact such organizations as soon as they receive notice of acceptance into the program, as these rooms are also very sought after. The ILF is able to provide a list of these organizations and further information to help students find private accommodation in Frankfurt.
Student Life
Due to the limit on class size of about 60 students in the LL.M. Finance program and 30 in the LL.M. International Finance class, making friends is easy. Community life is facilitated by the House of Finance, which is open around the clock for study, research, meeting friends, or just reading the newspapers in the lounge.
Being part of a stimulating and friendly international community, ILF students take advantage of this unique combination of students by coming together and organizing numerous social and cultural activities amongst themselves. In addition, the ILF organizes extra-curricular events such as excursions, receptions with sponsors and lecturers and the traditional End-of-Year Dinner Celebration.
Visit our website
http://www.ilf-frankfurt.de
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The Institute for Law and Finance is a non-profit foundation established in 2002 by Goethe University with the support of many prominent institutions. Since 2002, it offers the LL.M. Finance program.