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In the Sustainable Financial Economics programme, you will analyse global economic development, sustainability principles, financial systems resilience, and strategic corporate financial management. Studies include sustainable investment risk assessment, crypto innovations, and accountability assurance. You will be able to develop responsible financial strategies, conduct economic research, and implement sustainable solutions in Lithuanian and international institutions and organisations. You will complete your studies with a Master's thesis on sustainability, finance, and economics

Peržiūrėti programos planą

Entry qualification

Undergraduate diploma (or higher)

N.B. for non-EU/EFTA applicants: the gap since your completed Bachelor degree should not exceed five years.

Applicants must have collected at least 20 ECTS credits in Economics, Marketing, or Management Sciences as part of their undergraduate degree studies.

Applicants with an overall grade average of at least 60% are eligible for admission.

The Admission Committee of Vilnius University Kaunas Faculty might invite the candidate to a remote interview.

The entry qualification documents are accepted in the following languages: English / Lithuanian.

Often you can get a suitable transcript from your school. If this is not the case, you will need official translations along with verified copies of the original.

Translation is considered to be official when it is bound together with the certified true copy of the original document and is confirmed by the translator’s signature. Documents issued in English, Lithuanian must be certified true copies and do not require translation.

Check additional country-specific requirements

Language requirements

English

The following language certificates are accepted for study programmes taught in English: IELTS Academic 6.5+, TOEFL iBT 81+, Cambridge English Exam 176+, Pearson PTE Academic 59+, LanguageCert IESOL B2, Duolingo English Test 120+, Password Skills Plus 6.5+ or another language proficiency certificate equivalent to B2 CEFR (Common European Framework of Reference for Languages).

If your first language is English and/or if you have a university degree in English, you will be exempt from providing an English language test score.

Proving your language skills

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4

5

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7 Find your programme

When choosing a study programme, consider whether the subjects match your interests and strengths, as this will keep you motivated. You should also think about career opportunities, costs, and whether the programme fits your long-term goals.

Keep in mind that each applicant can choose up to three study programmes in one application, but you can only get admitted to one programme.

Check the application dates

For international applicants:
1 May | for applicants from non-EU/EFTA countries
1 July | for applicants who are citizens of EU/EFTA countries and for non-EU/EFTA applicants with a 90-day visa-free period that has not yet been exceeded.
The academic year always begins on 1 September.

Our International admissions have one intake per academic year. You can only submit your application during the application period.

The application dates may differ if you are applying for a programme taught in Lithuanian or if you are eligible to apply for state-funded places.

Check your eligibility and prepare the necessary documents

In order to apply to Vilnius University, you must meet the general and programme-specific admission requirements, as well as the language proficiency requirements. In certain cases, specific territorial requirements may also apply. You can find all the specific requirements for this programme in the 'Admissions requirements' section.

For applicants from non-EU and non-EFTA countries, the period between obtaining your most recent secondary or higher education qualification and submitting your application may not exceed 5 years.

Check the country-specific requirements

Pay the application fee and submit your application

The application to the international bachelor's or integrated studies degree programmes must be submitted on apply.vu.lt

The application fee is 100 EUR per application. The invoice is paid after adding the programmes to the application. Application fee payments are accepted only through the Flywire payment platform.

An online application will be processed only after the application fee is collected and the application is submitted with all the required documents. All documents must be submitted before the application submission deadline; otherwise, the application is terminated.

Please note: The application fee is non-refundable. Be sure to read the admission requirements and deadlines carefully before applying, as fees cannot be refunded if you are found ineligible or miss a deadline.

Create the application account Prepare the required documents

Take the interview

The Admission Committee of Vilnius University Kaunas Faculty might invite the candidate to a remote interview.

Confirm the acceptance and pay the tuition fee

Your application will be assessed within 30 calendar days from the date all required documents are submitted (this period may be extended in specific cases).

Acceptance letters or rejection notifications will be sent via the online application system https://apply.vu.lt.

Students are obliged to confirm if they accept the study offer within 7 working days.

Students who are citizens of the European Union, the European Economic Area countries and of other foreign countries, admitted to non-state-funded places in the first year of first-cycle and second-cycle studies through the University’s foreign student application system, must pay the annual tuition fee within 15 calendar days from the date of the offer to study.

Description of the Procedure of Payment, Reimbursement, and Recovery of Tuition Fees at Vilnius University

The information about the tuition fee refund policy

After the student pays the tuition fee, he receives the final acceptance letter. Then our International Relations Office provides the necessary information related to obtaining a temporary residence permit in Lithuania and sends a mediation letter to the student by e-mail (for non-EU citizens).

Arrange your arrival

Things to consider:

All international students have to apply for a visa, temporary residence permit or certificate of temporary residence in the Republic of Lithuania depending on their citizenship and the length of their studies at Vilnius University.
If you require accommodation, you may apply for a dormitory via the application platform at apply.vu.lt. The task for accommodation appears after the tuition fee is paid and the final acceptance letter is received.
More information about the start of your studies here.

Visa & Residence Permit Arrange you accommodation

After graduation, you will be able to analyse and evaluate the activities of companies and financial institutions in the global market, applying the principles of sustainable development.
You will learn to plan and conduct financial research, make decisions based on the latest macroeconomics and financial trends.
You will be able to assess the regulation of financial markets, banks, and other institutions and their impact on business sustainability and social responsibility.
You will understand how to integrate environmental, social, and governance (ESG) aspects into corporate financial strategy and decision-making.
You will be able to prepare and interpret financial and sustainability reports, and advise companies on their sustainable financial activities.
You will be able to critically apply contemporary financial and banking models when assessing the effectiveness of international companies' activities and their impact on sustainable development.

5 500 EUR

Tuition fee

Students who are citizens of the European Union, the European Economic Area countries and of other foreign countries, admitted to non-state-funded places in the first year of first-cycle and second-cycle studies through the University’s foreign student application system, must pay the annual tuition fee within 15 calendar days from the date of the offer to study.

After the student pays the tuition fee, he receives the final acceptance letter. Then our International Relations Office provides the necessary information related to obtaining a temporary residence permit in Lithuania and sends a mediation letter to the student by e-mail (for non-EU citizens).

Learn more

Application fee

The application fee is €100 per application. Each applicant can choose up to three programmes within one application.
Online applications will only be processed once the application fee has been paid.

Please note that the application fee is non-refundable. Make sure you read the admission requirements and deadlines carefully before submitting your application, as the fee cannot be refunded if you are found to be ineligible or miss a deadline.

Scholarships for Master's

Tuition Fee Waivers and Scholarships to Apply for During the Admission Procedure

In the Sustainable Financial Economics programme, you will analyse global economic development, sustainability principles, financial systems resilience, and strategic corporate financial management. Studies include sustainable investment risk assessment, crypto innovations, and accountability assurance. You will be able to develop responsible financial strategies, conduct economic research, and implement sustainable solutions in Lithuanian and international institutions and organisations. You will complete your studies with a Master's thesis on sustainability, finance, and economics

Peržiūrėti programos planą

Entry qualification

Undergraduate diploma (or higher)

N.B. for non-EU/EFTA applicants: the gap since your completed Bachelor degree should not exceed five years.

Applicants must have collected at least 20 ECTS credits in Economics, Marketing, or Management Sciences as part of their undergraduate degree studies.

Applicants with an overall grade average of at least 60% are eligible for admission.

The Admission Committee of Vilnius University Kaunas Faculty might invite the candidate to a remote interview.

The entry qualification documents are accepted in the following languages: English / Lithuanian.

Often you can get a suitable transcript from your school. If this is not the case, you will need official translations along with verified copies of the original.

Translation is considered to be official when it is bound together with the certified true copy of the original document and is confirmed by the translator’s signature. Documents issued in English, Lithuanian must be certified true copies and do not require translation.

Check additional country-specific requirements

Language requirements

English

The following language certificates are accepted for study programmes taught in English: IELTS Academic 6.5+, TOEFL iBT 81+, Cambridge English Exam 176+, Pearson PTE Academic 59+, LanguageCert IESOL B2, Duolingo English Test 120+, Password Skills Plus 6.5+ or another language proficiency certificate equivalent to B2 CEFR (Common European Framework of Reference for Languages).

If your first language is English and/or if you have a university degree in English, you will be exempt from providing an English language test score.

Proving your language skills

1

2

3

4

5

6

7 Find your programme

When choosing a study programme, consider whether the subjects match your interests and strengths, as this will keep you motivated. You should also think about career opportunities, costs, and whether the programme fits your long-term goals.

Keep in mind that each applicant can choose up to three study programmes in one application, but you can only get admitted to one programme.

Check the application dates

For international applicants:
1 May | for applicants from non-EU/EFTA countries
1 July | for applicants who are citizens of EU/EFTA countries and for non-EU/EFTA applicants with a 90-day visa-free period that has not yet been exceeded.
The academic year always begins on 1 September.

Our International admissions have one intake per academic year. You can only submit your application during the application period.

The application dates may differ if you are applying for a programme taught in Lithuanian or if you are eligible to apply for state-funded places.

Check your eligibility and prepare the necessary documents

In order to apply to Vilnius University, you must meet the general and programme-specific admission requirements, as well as the language proficiency requirements. In certain cases, specific territorial requirements may also apply. You can find all the specific requirements for this programme in the 'Admissions requirements' section.

For applicants from non-EU and non-EFTA countries, the period between obtaining your most recent secondary or higher education qualification and submitting your application may not exceed 5 years.

Check the country-specific requirements

Pay the application fee and submit your application

The application to the international bachelor's or integrated studies degree programmes must be submitted on apply.vu.lt

The application fee is 100 EUR per application. The invoice is paid after adding the programmes to the application. Application fee payments are accepted only through the Flywire payment platform.

An online application will be processed only after the application fee is collected and the application is submitted with all the required documents. All documents must be submitted before the application submission deadline; otherwise, the application is terminated.

Please note: The application fee is non-refundable. Be sure to read the admission requirements and deadlines carefully before applying, as fees cannot be refunded if you are found ineligible or miss a deadline.

Create the application account Prepare the required documents

Take the interview

The Admission Committee of Vilnius University Kaunas Faculty might invite the candidate to a remote interview.

Confirm the acceptance and pay the tuition fee

Your application will be assessed within 30 calendar days from the date all required documents are submitted (this period may be extended in specific cases).

Acceptance letters or rejection notifications will be sent via the online application system https://apply.vu.lt.

Students are obliged to confirm if they accept the study offer within 7 working days.

Students who are citizens of the European Union, the European Economic Area countries and of other foreign countries, admitted to non-state-funded places in the first year of first-cycle and second-cycle studies through the University’s foreign student application system, must pay the annual tuition fee within 15 calendar days from the date of the offer to study.

Description of the Procedure of Payment, Reimbursement, and Recovery of Tuition Fees at Vilnius University

The information about the tuition fee refund policy

After the student pays the tuition fee, he receives the final acceptance letter. Then our International Relations Office provides the necessary information related to obtaining a temporary residence permit in Lithuania and sends a mediation letter to the student by e-mail (for non-EU citizens).

Arrange your arrival

Things to consider:

All international students have to apply for a visa, temporary residence permit or certificate of temporary residence in the Republic of Lithuania depending on their citizenship and the length of their studies at Vilnius University.
If you require accommodation, you may apply for a dormitory via the application platform at apply.vu.lt. The task for accommodation appears after the tuition fee is paid and the final acceptance letter is received.
More information about the start of your studies here.

Visa & Residence Permit Arrange you accommodation

After graduation, you will be able to analyse and evaluate the activities of companies and financial institutions in the global market, applying the principles of sustainable development.
You will learn to plan and conduct financial research, make decisions based on the latest macroeconomics and financial trends.
You will be able to assess the regulation of financial markets, banks, and other institutions and their impact on business sustainability and social responsibility.
You will understand how to integrate environmental, social, and governance (ESG) aspects into corporate financial strategy and decision-making.
You will be able to prepare and interpret financial and sustainability reports, and advise companies on their sustainable financial activities.
You will be able to critically apply contemporary financial and banking models when assessing the effectiveness of international companies' activities and their impact on sustainable development.

5 500 EUR

Tuition fee

Students who are citizens of the European Union, the European Economic Area countries and of other foreign countries, admitted to non-state-funded places in the first year of first-cycle and second-cycle studies through the University’s foreign student application system, must pay the annual tuition fee within 15 calendar days from the date of the offer to study.

After the student pays the tuition fee, he receives the final acceptance letter. Then our International Relations Office provides the necessary information related to obtaining a temporary residence permit in Lithuania and sends a mediation letter to the student by e-mail (for non-EU citizens).

Learn more

Application fee

The application fee is €100 per application. Each applicant can choose up to three programmes within one application.
Online applications will only be processed once the application fee has been paid.

Please note that the application fee is non-refundable. Make sure you read the admission requirements and deadlines carefully before submitting your application, as the fee cannot be refunded if you are found to be ineligible or miss a deadline.

Scholarships for Master's

Tuition Fee Waivers and Scholarships to Apply for During the Admission Procedure

VU KnF MA Tvariųjų finansų ekonomika (1).jpg

Career prospects

After completing this study programme, you will be able to work in various institutions and companies where macrofinance knowledge, analytical skills, and the application of sustainability principles are required:

in large international and national corporations, banks, insurance companies, pension funds;

in credit rating agencies, stock exchanges, and global financial centres;

in financial supervisory authorities in Lithuania and Europe, such as the Bank of Lithuania or ministries.

Financial data analyst / Chief Financial Officer (CFO) / Business development project manager / Strategic planning specialist / Economic consulting expert / Macroeconomics researcher / Policy-making specialist / Investment analyst or portfolio manager

Make a difference in economics

Nora Dilytė

A graduate of the Sustainable Financial Economics study programme, Financial Analyst at UAB Kesko Senukai, Lithuania

At the Kaunas Faculty of Vilnius University, I grew up and became not only a better specialist, but also a different person—I improved myself as a whole. During your studies, you learn to communicate, organise your thoughts logically, understand what you are doing, search for and find answers, propose original ideas and ways to implement them. University teachers see, hear, understand, and value their students. Additionally, the Sustainable Financial Economics study programme is particularly relevant in today's world, where there is an increasing emphasis on integrity, sustainability, and social responsibility. Everyone who completes this study programme can find a position that suits them, such as an economist, financial analyst, auditor, or similar role. Therefore, for anyone seeking a Master's degree programme that encompasses a broad range of knowledge, and for those who wish to develop comprehensively and become top-level specialists, I recommend this study programme at the Kaunas Faculty of Vilnius University.

See more than just numbers

Tomas Bacevičius

An alumnus, Market Analyst at LTG Link (Lithuanian Railways Group)

I studied to gain knowledge about how economics is based on sustainability principles, creating long-term value for society. The macrofinance expertise developed during my Master's studies, combined with the in-depth application of sustainability concepts, helped me better understand and evaluate areas such as the global economy, sustainable development processes, investment risk management, environmental economic policy, and international finance. In my current job as a market analyst, I can clearly see how the knowledge I gained during my studies contributes to my ability to assess sector dynamics, make data-driven decisions, and analyse complex economic and sustainability issues. My studies strengthened my analytical thinking and enabled me to see the development of economic processes and their long-term impact more broadly.

Tvariuju finansu ekonomika anglu k MA Nora Dilyte 2025 VU KnF.jpg

Tvariuju finansu ekonomika anglu k MA Tomas Bacevicius 2025 VU KnF.jpg

Do the studies cover the application of AI tools?

Yes, the study programme includes a course called "Investing and Crypto Innovations", which examines advanced financial technologies and data analysis methods. Other courses also incorporate practical applications of AI.

Will I learn how to evaluate/prepare corporate sustainability reports during my studies?

Yes, you will acquire these skills in the course "Sustainability Reporting and Assurance", which teaches you how to prepare, evaluate, and ensure the accuracy of sustainability reports.

How flexible is the study schedule—is it possible to work while studying?

Yes, it is possible to combine studies with work, as lectures only take place after 5 p.m.

Chat with VU students

If you need more information or personalised advice, choose a VU Ambassador from your home country or the desired study programme and submit your question using the form below. You can expect to hear back from us within 2–3 working days.

Sustainable career solutions

"While still studying for my Bachelor's degree at the Kaunas Faculty of Vilnius University, I already knew that I would choose the Master's programme in Sustainable Financial Economics. These studies enabled me to supplement my practical knowledge of the financial world with a deeper theoretical understanding of economics. The importance of sustainable finance in this sector is constantly growing, so I believe it is particularly important to gain an understanding of the processes that are underway. During my studies, I received an invitation to join the Kaunas Faculty of Vilnius University project "Research on Cyber Resilience Through Application of Generative Artificial Intelligence in Chief Information Security Officer Operations," which, although not directly related to my studies, is closely related to my professional path, allowing me to realise my potential and further expand my knowledge base." Ieva Šilingaitė, a second-year student

Contact our Ambassador

Tvariuju finansu ekonomika anglu k MA Ieva Šilingaitė 2025 VUKnF.jpg