International Economics (LT)

International Economics is a Master’s programme for those who see the economy not only within one country, but across borders — through trade flows, capital movement, exchange rates, international agreements, and global crises. The Vytautas Magnus University Faculty of Economics and Management (VMU FEM) International Economics programme is designed for those who want to deepen their understanding of micro- and macroeconomic processes in an international context, make data-driven decisions, and evaluate economic policy analytically.

International Economics: what does a specialist in this field look like?

Sees the link between local economic indicators and global trends: exchange rates, interest rates, trade flows, and investment.
Understands how international trade, capital mobility, migration, and technological progress affect countries, regions, and companies.
Can conduct micro- and macro-level research in international and global contexts.
Can apply econometric models, analyze data, and formulate scientifically grounded conclusions about the economy and economic policy.
Understands international economics theories and policy instruments — from tariffs and quotas to free trade agreements and regulation.
Understands how international corporate strategies work, including global value chains, investment decisions, and production relocation.
Knows the principles of behavioural, institutional, and experimental economics and can apply them when analysing economic decisions.
Has developed critical thinking — can argue convincingly with researchers, policymakers, and practitioners about economic policy, its consequences, and alternatives.

A VMU FEM Master’s graduate in International Economics can not only interpret global processes, but also model how they affect specific countries, sectors, and organizations.

VMU FEM International Economics Master’s: why choose us?

Designed to educate competent international economics specialists by combining strong economic theory, econometric analysis, and evaluation of policy decisions in an international context.
Double degree option: in the second year you can study at the University of Trento (Italy) or the University of Aveiro (Portugal) and obtain diplomas from both universities.
Delivered at VMU FEM — a specialized business faculty in central Kaunas with international accreditations and a broad partner network.
Evening studies (Mon–Fri from 17:30), allowing you to combine the Master’s with work.
Up to ~30% of the programme content may be delivered remotely, depending on the study plan.
State-funded places are available; for non-state-funded places partial tuition compensation may apply, and personal income tax (GPM) relief is available (possibility to reclaim part of the paid tuition fee).
Opportunity to participate in the prestigious CMA (Certified Management Accountant) programme — scholarships for up to 10 students per year and support to take international certification exams.
Lecturers include academics and practitioners in international economics, econometrics, policy analysis, and international business.

How do the International Economics Master’s studies work?

International Economics is a full-time second-cycle Master’s programme lasting 2 years (4 semesters).
Schedule: Mon–Fri from 17:30; classes take place on campus, and up to ~30% of the content may be delivered remotely.
In the first semesters, students build the economics and econometrics foundation in an international context: micro- and macroeconomics, international trade, the global economy, and international economic policy.
Strong emphasis on data analysis and econometric models — applying analytical tools for country-, region-, and firm-level research.
Later semesters go deeper into international corporate strategies, the interaction between international law and economics, behavioural and institutional economics, and applications of experimental economics.
Students conduct applied research, analyse international organizations, economic policy cases, global crises, and structural changes.
There is an option to join the double degree track and complete part of the studies at partner universities.
Students prepare a Master’s thesis linked to a specific international economics problem, country/regional policy, or an economic situation in a sector or organization.

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Corporate Strategic Management (LT);
Marketing and Sales (LT);
Business and Entrepreneurship (LT);
BMI International Executive MBA (EN);
Sports Business Management (EN). Delivered together with “Euroleague Basketball”.

Key programme information

Field of study: Economics (second-cycle studies; International Economics Master’s)
Duration: 2 years (4 semesters)
Format: full-time studies (evening schedule)
Schedule: Mon–Fri from 17:30; on-campus classes, with up to ~30% of content possibly delivered remotely
Language: Lithuanian
Programme Director: Assoc. Prof. Dr. Akvilė Aleksandravičienė
Degree awarded: Master of Social Sciences
State-funded places: available (determined each year according to admission rules)
Tuition fee: EUR 2,345 per semester (non-state-funded places); partial tuition compensation may apply, and GPM tax relief is available (possibility to reclaim part of the paid tuition fee)
Double degree option: available — with the University of Trento (Italy) and the University of Aveiro (Portugal) (additional selection applies)
Location: VMU Faculty of Economics and Management, K. Donelaičio g. 52, Kaunas
Detailed and updated programme information: here

Double degree opportunity

CMA (or FMAA) certificate

To broaden knowledge and upgrade qualifications, International Economics Master’s students at VMU FEM can choose to participate in the prestigious CMA (Certified Management Accountant) programme.

The CMA programme is delivered by the Institute of Management Accountants (IMA). Each academic year, up to 10 students at VMU FEM receive a scholarship to participate in the CMA programme. With the scholarship, students receive a 3-year CMA membership and the right to take two CMA exams free of charge (one attempt each). Students start the programme while studying, and complete it after earning their VMU degree.

Additional candidate selection applies. Upon completion, a CMA certificate is awarded.

Benefits of the CMA certificate

Gain knowledge in financial planning and analysis and strategic financial management;
Earn an internationally recognized certification;
Stand out in the job market by holding the CMA certificate;
Join the IMA international community of 140,000 professionals.

For more information about the CMA certificate, contact Prof. Dr. R. Legenzova.

Programme content

You can find the programme content here.

Overview: The International Economics Master’s curriculum covers core areas of micro- and macroeconomics, international trade, the global economy, economic policy, and econometric analysis.

In the first semesters, the focus is on international economics theories, micro- and macroeconomic processes in international and global contexts, international trade, institutional and behavioural economics, while strengthening econometrics and data analysis skills.

In later semesters, the curriculum deepens and expands: the global economy, international corporate strategies, international law and economics, economic policy evaluation, experimental economics, and more advanced econometric models. Elective courses allow students to strengthen areas relevant to them — for example, international trade policy, regional economics, development economics, or the economics of international organizations.

Some tasks use data and reports from international organizations (European Commission, IMF, World Bank, etc.), analysing country and regional indicators, policy instruments, and the consequences of reforms. Students prepare research assignments and a Master’s thesis, often linked to a concrete international economic issue affecting a country, region, or sector.

Where do graduates work?

Where do VMU FEM International Economics graduates work?

As economists and analysts in international companies, financial institutions, consulting, and research organizations.
In public sector institutions: ministries, agencies, central banks, and institutions shaping and evaluating economic policy.
As experts in international organizations and NGOs working on economic development, trade, globalization, sustainability, and social policy projects.
As analysts in banks, investment, and insurance companies assessing macroeconomic risks, market changes, and international developments.
In business development, market analysis, and strategic planning units of companies operating internationally.
As junior researchers, doctoral students, and lecturers at universities and research centres, continuing PhD studies in economics or other social sciences.

The International Economics Master’s opens career paths in analytics, policy-making, international business, consulting, and research.

Financial support and tax relief

Admission requirements

Admission is open to candidates with diverse educational backgrounds and work experience. You may apply if you are:

Graduates with a Bachelor’s degree in Economics or a closely related field*

Graduates from other Bachelor’s fields

Graduates of colleges (Professional Bachelor’s)

Requirements

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You must meet at least one requirement:

– completed relevant minor studies (for VMU graduates);

– completed relevant bridging/additional studies (for VMU, other university, and college graduates);

– at least 1 year of relevant practical work experience;

– a previously obtained Master’s degree in another field.

Admission score

K = 0.7A + 0.3B

A – weighted average of all course grades in the Bachelor’s diploma supplement;

B – Bachelor’s thesis grade.

K = 0.4A + 0.3B + 0.3C

A – weighted average of all course grades in the Bachelor’s diploma supplement (excluding additional/minor studies grades);

B – Bachelor’s thesis or final exam grade;

C – weighted average of additional/minor studies course grades.

*Closely related fields include Bachelor’s degrees in finance, accounting, marketing, business, management, IT, mathematics, political science, sociology, and law.

Your application is reviewed once the document registration fee is paid. The registration fee is EUR 25. Payment details: Recipient: VMU; Payment purpose: “Registration fee for admission to Master’s studies”; IBAN: LT04 7044 0600 0284 8625 (AB SEB bankas); LT89 4010 0425 0278 5505 (Luminor bank AB); LT79 7300 0101 3113 5650 (“Swedbank”, AB).

More about admission conditions, dates, and requirements: here.

Head of the study program: dr. Akvilė Aleksandravičienė
Awarded qualification: Master of Economics
Duration of studies: 2 years
Language: Lithuanian