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Faculty
Mathematics and Informatics
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Scope of studies and length
90 ECTS credits, 1,5 years |
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Qualification awarded
Master in Mathematical Sciences |
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Application period*
1 May / 1 July
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Language
English |
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Tuition fee per year*
5 500 € |
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Start of studies
1 September
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City
Vilnius |
*The tuition fee is aligned with the national standard tuition fee and is therefore subject to change.
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The study programme provides a high-profile education in financial and actuarial mathematics, with an emphasis on the theoretical foundations of various methods and techniques in probability theory, stochastic analyses, risk theory, and the related fields. Graduates of the programme are qualified to analyse and solve problems in theoretical models of finance and insurance, with the implementation of their obtained solutions in practice.
Programme structure
| Course unit title |
ECTS
credits
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| Course unit title |
ECTS
credits
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1 semester
Compulsory courses
Financial Technology Models
Selected Topics in Analysis
Stochastic Analysis
Probability Theory and Mathematical Statistics
Elective courses*
Time Series Analysis
Data Mining
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30.0
5.0
5.0
5.0
10.0
5.0
5.0
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2 semester
Compulsory courses
Risk Measures
Applied Actuarial Mathematics
Risk Renewal Models
Elective courses*
Asset Allocation
Stochastic Models of Financial Mathematics
Discrete Market Models
Bayesian Statistics
Multidimensional Data Visualization
Deep Learning Methods
Modern Finance Mathematics
Java Technologies
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30.0
5.0
10.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
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3 semester
Compulsory courses
Final Thesis
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30.0
30.0
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*Available elective courses might vary from year to year.
Key Learning Outcomes
Our students possess logical thinking, a creative view toward professional activities, and know how to apply theory in practice. Any graduate of the Master’s programme graduate in Financial and Actuarial Mathematics can also choose to pursue an academic career by enrolling in a PhD programme either at Vilnius University or abroad.
Why choose this programme?
- The programme provides the solid high-level theoretical foundation needed to understand and apply state-of-the-art research results in practice. Students learn about the possibilities and restrictions of popular financial and actuarial models, tools and ideas.
- The Financial and Actuarial Mathematics Master’s programme supports students in developing the competencies needed for the international labour market; in particular, the brightest students are strongly encouraged to pursue an academic career.
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What comes after?
- Graduates of the programme work in insurance companies, banks, pension and investment funds, consulting firms, government agencies, etc. (e.g. as actuaries, financial analysts, risk assessors and consultants, for both Lithuanian and foreign institutions responsible for supervising financial and insurance markets).
- Our graduates can also pursue further studies at the doctoral level in Mathematics and/or Statistics.
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"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 a 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."
Arita Priedniece, a student from Latvia
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