About the programme
| Faculty | Faculty of Mathematics and Informatics | Duration | 1,5 years |
| Study field group | Mathematical Sciences | Mode of study | Full-time |
| Study field | Applied Mathematics | Credits | 90 |
| Qualification degree | degree of Master of Mathematical Sciences | Annual tuition fee | 6 000 EUR for non-EU students / 5 641 EUR for EU students |
* For applicants from non-EU/EFTA countries
** For applicants who do not need a Lithuanian visa and non-EU/EFTA applicants, if there is a Lithuanian embassy in their home country
High-profile education in financial and actuarial mathematics with an emphasis on the theoretical foundation of various methods and techniques of probability theory, stochastic analysis, risk theory, and related fields. Graduates of the programme are qualified to analyze and solve problems in theoretical models of finance and insurance, with the implementation of obtained solutions in practice.
Why this programme?
- The programme provides a solid high-level theoretical foundation needed to understand and apply state-of-the-art research results in practice. Students learn the possibilities and restrictions of popular financial and actuarial models, tools and ideas.
- The Financial and Actuarial Mathematics Master’s program develops competencies needed for the international labour market; in particular, the brightest students are strongly encouraged to pursue academic careers.
What's after?
- Work in the insurance companies, banks, pension and investment funds, consulting firms, government agencies, etc. (e.g., as actuaries, financial analysts, risk assessors, consultants both for Lithuanian and foreign institutions supervising financial and insurance markets).
- The graduates can also pursue further studies at the doctoral level in Mathematics and/or Statistics.
Student testimonials
Arita Priedniece, student from Latvia
I have chosen this programme and university because it has old, strong education traditions, and is known widely. Vilnius University is the first in Lithuania according to national ranking. The second thing I would like to mention is that this program perfectly fits my career aims and life goals. Also, I wanted to have my master abroad to gain international experience.
I am really satisfied with my choice and I don’t regret it. My professors are professional in their fields because their teaching and communication style are easy and understandable in each situation. My courses mates are really nice and friendly people. It is not easy to study in MIF, but I can say that it is really challenging and interesting. I think it is worth having this kind of life experience.
Programme specific requirements
- At least first level studies leading with a bachelor diploma are required.
- English language proficiency - the level not lower than B2 (following the Common Framework of Reference for Language approved by the Council of Europe).
- Assessment of motivation is held by electronic means remotely.
In addition, all applicants have to fulfil general admission requirements.
Programme structure
| Subject | Credits |
| Semester 1 Autumn | |
| Compulsory Courses | 25.0 |
| Financial Technology Models | 5.0 |
| Probability Theory and Mathematical Statistics | 10.0 |
| Selected Topics in Analysis | 5.0 |
| Stochastic Analysis | 5.0 |
| Optional Courses | 5.0 |
| Data Mining | 5.0 |
| Time Series Analysis | 5.0 |
| Semester 2 Spring | |
| Compulsory Courses | 20.0 |
| Applied Actuarial Mathematics | 10.0 |
| Risk Measures | 5.0 |
| Risk renewal models | 5.0 |
| Optional Courses | 10.0 |
| Asset Allocation | 5.0 |
| Bayesian Statistics | 5.0 |
| Deep Learning | 5.0 |
| Discrete Market Models | 5.0 |
| JAVA Technologies | 5.0 |
| Multidimensional Data Visualization | 5.0 |
| Stochastic Models of Financial Mathematics | 5.0 |
| Semester 3 Autumn | |
| Compulsory Courses | 30.0 |
| Master Final Thesis (Study field: Applied Mathematics) | 30.0 |
*Available elective courses might vary from year to year.
Contacts
Do you have any questions? Contact:
Study Programme Committee
Chair of the Study Programme Committee - Assoc. Prof. Dr. Martynas Manstavičius
- Prof. Habil. Dr. Mindaugas Bloznelis,
- Partn. Prof. Rokas Gylys,
- Prof. Habil. Dr. Remigijus Leipus,
- Dr. Viktor Medvedev,
- Partn. Assoc. Prof. Irmantas Mikulėnas,
- Assist. Dr. Aldona Skučaitė,
- Prof. Dr. (HP) Jonas Šiaulys,
- Gabija Girdžiūtė (Social Partner, „ERGO Life Insurance SE“),
- Two student representatives.
