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The Institute for Law and Finance at Goethe University Frankfurt am Main offers a unique, one-year graduate programme leading to a Master of Laws in Finance. ILF students are fully enrolled members of Goethe University, which confers the LLM Finance degree. About 60 highly qualified graduates will be admitted to the programme, to ensure academic excellence and direct personal contact between students and faculty. We have both full-time (one-year study period) and part-time (two-year study period) students.
This programme, conducted entirely in English, is suitable for graduates with a good degree in law, business or economics who have an interest in combining theoretical knowledge with practical training in law and international finance. It overcomes the traditional separation of the academic disciplines of law and business/economics by teaching aspects of both and focusing on their intersection and interplay. The faculty consists of prominent academics as well as experienced practitioners from Europe's legal and financial world.
The LLM Finance programme also incorporates a special, two-month internship with public and private institutions which support the ILF. These institutions typically include leading international law firms, banks, accounting and consulting firms, the European Central Bank, Deutsche Bundesbank, and BaFin (German Financial Supervisory Authority).
The ILF, located in Frankfurt am Main, Germany, the major financial centre of Europe, provides the ideal location to train young professionals to deal with current and future legal and financial challenges.

Educational organisation

Students must receive a minimum of 90 credit points for coursework within a period of two semesters and must complete a seven-week internship which the ILF assists in arranging, as well as a Master's thesis (about 65 pages).
Subject to prior approval of the ILF, students may arrange to complete the regular, one-year LLM Finance programme over a period of two years. The purpose of such an arrangement is to allow students to work part-time during their studies, thereby financing their studies at the ILF.
If you decide to do the programme on a part-time basis, you will be required to accumulate at least 90 credit points over a period of two years instead of one year. Of the 90 credit points, 60 credit points will be attained from the successful completion of twelve five-credit courses. This means that you will have to take at least three courses per semester in order to have twelve courses completed by the end of the two-year (or four-semester) period.
Depending on the scheduling of the individual courses you select, you will probably have to attend classes at least once a week for each selected course. If you continue to work during your studies, you may request an exemption from the internship requirement of the programme regulations.
Students who have opted for a full-time programme will not be allowed to switch to a part-time programme after the start of the programme.

Study abroad unit(s)

Up to four LLM Finance students with a German "First Legal State Examination" qualification enrolled at the ILF will have the option to spend the first semester (i.e. the winter semester) of the one-year programme at Boston University School of Law and attend the school's Graduate programme in Banking and Financial law (http://www.bu.edu/law/prospective/llm/banking/). Upon completion, the ILF students will attend the second semester (summer semester) at the ILF and will then graduate with the LLM Finance degree from the ILF.
Up to two LLM Finance students can spend a semester at the University FGV DIREITO RIO in Brazil after completing the LLM Finance programme at the ILF.

Internships

The LLM Finance degree programme includes a seven-week internship. The internship experience gives students an opportunity to test and consolidate their understanding of the coursework. Thanks to our location in Frankfurt and the high calibre of our sponsors, students benefit from 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 (February/March), but they may occasionally take place during the summer break (from July onwards).
Students, in consultation with the ILF, may apply to the law firm, financial institution or other organisation 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 Germany are possible if a student takes the initiative to organise such an opportunity.

Forms of assessment

Examinations, group assignments, take-home assignments, class participation, and class presentations

Course objectives

Numerous, rapid changes in the global financial markets over the past few decades have dramatically altered the requirements for and contents of legal study. With the development of new financial instruments such as derivatives and international hedge funds as well as entirely new requirements for financial regulation, central banking and insolvency law, there is an urgent need for professionals to be trained in the qualitatively new and rapidly evolving areas of legal practice.
The LLM Finance degree programme at the ILF will train you not only to deal with but also to excel in this increasingly important area where the worlds of international law and global finance meet. We provide our students with a springboard for their careers in international corporations, banks, law firms, accounting and auditing firms.

University requirements


Program requirements

Language requirements

TOEFL 600, CBT TOEFL 250, IBT TOEFL 100 (with a minimum of 22 for each section), Cambridge CAE (grade C or above) or IELTS 7.0 unless your native tongue is English

Academic requirements

The minimum requirement is an undergraduate degree in law, economics, or business administration.

Enrolment fees

Goethe University charges an administrative fee of approx. 360 EUR per semester (less than 730 EUR per year). This includes a ticket for public transport. The "magic ticket" entitles you to use buses, trams, and the underground in Frankfurt and the surrounding area. You can even use the regional trains to travel to various other cities in Hesse, e.g. Marburg or Giessen.

Costs of living

The cost of living in Frankfurt depends on personal requirements and lifestyle. However, students should expect minimum expenses of approx. 940 EUR per month. This calculation is based on the following items: 800 EUR for rent, food, clothing, and study materials, around 81 EUR for compulsory but almost comprehensive health insurance, and approx. 59 EUR for the administrative fee (including free public transport).

Job opportunities

In Frankfurt, 44,000 companies and organisations have approx. 464,000 employees on their payrolls. In addition, Frankfurt is the financial centre of Germany, with 350 banks, including the European Central Bank, 150 foreign banks, and the fourth-largest stock exchange in the world. Furthermore, Frankfurt is home to various cultural and research institutions. These are key players in a flourishing economy, offering students and graduates interesting jobs and internships. During your studies, there are plenty of job opportunities either at Goethe University itself (e.g. as a tutor or research assistant) or you may look for jobs and internships elsewhere in the greater Frankfurt area. Job opportunities are particularly interesting for students from abroad, e.g. at the airport and the trade fair. The "Studentenwerk" as well as the Career Services at Goethe University can help you to find a suitable offer. After you graduate, it is comparatively easy to find a job in the greater Frankfurt area, since it is one of the strongest employment regions in Germany. Furthermore, due to new laws, students from non-EU countries may also receive a work permit after graduation.

Funding opportunities within the university

ILF Partial-Tuition Scholarship (based on financial need)
http://www.ilf-frankfurt.de

Arrival support

An orientation meeting will be organised for incoming students in October of every year in order to acquaint the students with administrative and organisational matters.

Additionally, Goethe University offers:
Internationaler Studientreff (IST)
This is a project for international and German students. Consultation hours, "get-togethers", international bar evenings, excursions in and around Frankfurt, and a buddy programme are included!
Check the website for more information:
http://www.uni-frankfurt.de/IST

Erasmus Student Network (ESN)
The ESN is also present in Frankfurt and helps international students to get accustomed to life in Frankfurt and Germany. They also organise several "get-together" events like parties, pub crawls, quiz nights, and more.
Check the website for more Information:
http://unifrankfurt.esngermany.org/

International "Stammtisch"
Each semester, an international "Stammtisch" (a regular group meeting, mostly at a bar or restaurant) will be offered to ERASMUS/DAAD/SOCRATES scholars and German students planning to go abroad or returning from abroad. In a pleasant atmosphere, students can exchange experiences and tips on studying abroad, dealing with student life in Frankfurt, and making new friends.

Services and support for international students

The International Office of Goethe University offers a comprehensive range of advice and services on issues of visa/immigration, financing your studies, social life, and personal matters.
See: http://www.uni-frankfurt.de/38294574?

At the International Study Center (ISZ) at Goethe University, ongoing German language support is available. ISZ offers several options to improve your language proficiency, such as a tandem project (language exchange, e.g. Spanish-German), German language courses (preparatory and continuous), and language training during your academic programme.
Check the website for more information:
http://www.uni-frankfurt.de/43662305

The student union ("AStA", http://asta-frankfurt.de/) provides advice and entertainment. Faith-based organisations offer opportunities for worship and intercultural exchange.
See: http://www.esg-frankfurt.de/
See: http://www.khg-frankfurt.de/

Accommodation

Frankfurt am Main offers a wide variety of accommodation, from university dorms to privately rented apartments. The biggest providers of dorms are the "Studentenwerk" (student services, http://www.studentenwerkfrankfurt.de) and churches.
The 19 dormitories offer more than 1,700 different accommodation units starting from 120 EUR per month for a single room to up to 450 EUR for a family apartment of 45m².
For further information, see: http://www.studentenwerkfrankfurt.de/en/consulting-service/international-students/accommodation/.
We strongly recommend that students contact such organisations as soon as they receive their letter of acceptance to the programme, as these rooms are in high demand.
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