In this program, students will gain valuable knowledge and skills in financing sustainable business development, business optimization, application of modern financial technologies such as Blockchain / Fintech, sustainable investment and risk management, sustainable financial management and decision making in business.
Managing sustainable finances is especially relevant today and will be in the future. The sector of finance needs leaders who are able to think and act in a strategic and innovative way while applying insights and ideas for sustainable business development.
At the VU Business School, we take a sincere interest in your professional development and growth. You will acquire practical, modern know-how in financial markets and investments, increase your employability and empower your career!
Who should study in this program?
Those who have the vision to empower their career in the rapidly expanding finance industry;
Future business leaders on the global stage;
Proactive and ambitious individuals who are motivated to acquire the academic and practical skills needed for a deeper understanding of the financial world;
Those who want to develop a sustainable business and understand how to manage the finances of sustainable business;
Those who follow global financial markets and investment management news and trends;
Company executives who want to know how to make sustainable financial management decisions in business.
Why should you choose Sustainable Finance & Investment?
Program is held entirely in English;
International and multicultural opportunities;
Improvement aligned with your job. Studying complements your work, allowing you to deepen your knowledge of possible sustainable financial and investment management solutions and the situations you actually face in your work;
Opportunity to learn from the most successful. The lecturers of the program are experienced professionals from the world of finance, who are successfully climbing the career ladder in various fields of finance;
Less talk, more work. The number of theoretical lectures in the Sustainable Finance and Investments study program is minimal.
Students apply their work experience and new knowledge by experimenting, developing projects, consulting, and sharing ideas with each other;
The program is taught by professionals from Lithuania and abroad.
What's after?
Students learn the advanced knowledge needed for a career:
in large corporations;
in treasury management;
in corporate venturing or other finance areas;
in corporate banking;
venture capital, private equity, or asset management.
Graduates of this program can successfully work as leaders in finance and development departments of domestic and international companies, in management positions of financial institutions (banks, insurance, and leasing companies, pension, and investment fund management companies), or as financial business consultants in local and foreign companies, manage international projects in the public sector or build their own sustainable business. And will be able to attract and successfully use the company's financial resources for transformation into sustainable business and activities by creating their own business or working in corporate finance departments.
Financial Support
VU BS students who enrolled during the 2025-2026 admission period (from the autumn semester of 2025) and study in non-state-funded places, the tuition fee may be reduced to the normative price for outstanding academic performance – if they complete the semester with a study average of no less than 9.5. Academic performance is reviewed each semester.
Study program
Lectures will be held in modules, 2-3 weekends per month. In case of slight changes, students will be informed in advance.
The Visiting Professors' lectures are held all day on Friday from 9.00 am to 4.00 pm. Usually held once a semester, the schedule is announced 2-3 months in advance.
Economic Policies for Sustainable Development (5 ECTS)
This course will provide the necessary knowledge for the analysis and evaluation of economic politics processes. Therefore, you will be able to make reasonable financial and business management decisions and formulate corporate finance and business development strategies taking into account the country's economic policy.
Dr. Marijus Bernatavičius
Sustainable Financial Markets (5 ECTS)
After completing this subject you will gain knowledge about financial markets and their features as well as the process and objectives of investment management. You will learn about the latest financial technologies (FinTech) and their application in everyday business activities. You will be able to assess the causes of financial crises and formulate both personal and business investment management strategies.
Prof. Dr. TadasGudaitis
Enterprise Performance Analysis(5 ECTS)
This study subject provides the knowledge and understanding of the company's financial statements and performance. As you study this course, you will learn about the benefits and "myths" of initial coin offering (ICO), how to analyze the data in the reports and to evaluate the company's performance, while analyzing cases based on the activities of real companies and sectors.
Doc. Dr. Ieva Bužienė
Sustainable Development and Responsible Business (5 ECTS)
This subject will develop the ability to understand the limits of the legality of the pursuit and implementation of economic activities, which would allow making informed decisions in business, taking into account the requirements of the law. You will learn how to assess the legal requirements, the applicable forms of liability and the behavior in relation to the potential liability of an economic operator.
Lect. Simona Ramanauskaitė
Sustainable investment management and impact investing (5 ECTS)
This module reflects competences focused on decision-making and risk management. The course will focus on the micro and macro levels of finance and impact investing, which is particularly relevant today.
Elective Courses
Family Business Strategy and Sustainable Development (5 ECTS)
This subject will give knowledge to students seeking to increase the sustainability of family business decision-making. Students will learn about family business management, inheritance planning, asset management risks and investments, and will be able to find and apply new solutions to existing family business problems.
Lekt. Ignas Aničas
Innovation and Change Management (5 ECTS)
Students will gain knowledge, apprehension and be able to explain the various factors of innovation management and their interrelationship. As well they will gain knowledge on lateral thinking (compared to a patterned way of thinking), be able to draw on and explain best practice in Innovation Management from European and local scenes and will gain practical skills in identifying opportunities to maximize growth and profitability, developing an innovation management plan and implementing all parts of an innovation management plan.
After completing this course, you will be able to take an innovative look at financial management optimization, delving into modern optimization techniques, modern financial risk assessment of a company and best financial management practices. You will be able to design the company's financial situation in the face of uncertainty. You will know how to apply Big Data analysis to optimize your financial performance.
Assoc. Prof. Algimantas Laurinavičius
Assoc. Prof. Antanas Laurinavičius
Financial risk management for ESG (5 ECTS)
This course will provide practical skills in identifying the effects of exchange rate fluctuations in international business and in using financial instruments in foreign exchange markets to protect against exchange rate fluctuations. You will know about the modern financial risk assessment principles and management methods and will develop the ability to identify financial risk and how to apply risk mitigation and elimination technologies.
Prof. Dr. Deimantė Vasiliauskaitė
Quantitative Research Methods(5 ECTS)
Youwilllearnaboutthepossibilitiesofapplyingblockchaintechnologyin a realbusinessenvironment. Aftercompletingthissubject, youwill be able to assesstheimpactofeconomicconditionsonbusinessandmakequantitativefinancialandbusinessdevelopmentforecastsaswellas to assessthereliabilityoftheseforecastsandmakedecisionsinbusiness.
Partn. Doc. Petras Dubinskas
Corporate Governance (5 ECTS)
You will learn to identify the characteristics of corporate governance according to the type of company and to apply good corporate governance practices. You will understand the principles of formation and effective operation of the board as the main corporate governance body and will be able to participate in the governance of international business enterprises and institutions.
Lect. Robertas Degesys
Corporate Mergers and Acquisitions (5 ECTS)
You will be acquainted with the principles and practice of business development finance strategy formation and be able to create business development scenarios by selecting their financing methods. You will have the ability to search for and find alternatives to financing the transaction, the methods and sequence of actions in the acquisition and merger process.
Lect. Robertas Vyšniauskas
Elective Courses
Sales Psychology of Financial Services (5 ECTS)
By studying this subject, you will learn about the patterns and ways of behavior of financial product market participants. Also, you will gain knowledge how to get the desired result faster and more efficiently and how to implement a financial product faster or more expensive while being in the role of the buyer or seller of a product.
Partnership Assoc. Prof. Marius Dubnikovas
Advanced Creative Thinking & Communication
TheAdvanced Creative Thinking & Communicationcourseisofferedincollaborationbetween Vilnius University BusinessSchoolandKaospilot. It isdesigned to helpindividualswho are ready to transformhowtheyapproachproblems. Thisprogramwillhelpyouunlockyourcreativepotential, equippingyouwithfreshperspectivesandtheability to challengeconventionalthinking. It offers a playfulyetstructuredapproach to nurturingcreativity, allowingyou to pushyourorganisationorpersonalendeavours to newheights.
General admission requirements and selection criteria
For all Lithuanian and EU applicants
For International applicants
• Bachelor`s degree (university diploma) in Business and Management or in Management and Business Administration or Economics.
• Bachelor`s degree (university diploma) or equivalent, and have at least 20 credits in business and / or economics.
• Bachelor's degree or an equivalent university diploma in another field and have at least one years work experience related to the desired/intended study program.*
• Bachelor`s degree (colege diploma) in Business and Management or in Management and Business Administration or Economics with not less than 8 weighted average and have at least one years work experience related to the desired/intended study program.*
* For Lithuanian applicants only
Structure of the competitive score
VS*0,5 + D*0,5
VS – the average of diploma appendix (appendix) grades, except for graduation thesis and/or final exam (s).
D - grade of the final thesis and/or final exam (average grade) or average final examination grade.
• English language proficiency:
- the level not lower than B2 (following the Common European Framework of Reference for Languages (CEFR).
- 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.
• Applicants with an overall grade average of at least 70% are eligible for admission.
• If qualifications match the program, the applicant will receive an invitation to pre-record a video interview. More details will be provided during the application.
• The Vilnius University Business School Admission Committee might invite their candidate for a face-to-face interview.
Academic counceling
At VU Business School we pay a lot of attention to students' academic counseling. If you have any questions during your studies, you can contact your study coordinator to solve any problem or just to talk.
During the studies, all relevant information will be delivered by the study coordinator.
Please meet the study coordinator for this study program:
Vasarė Strončikaitė
tel. +370 696 65 522
Financing
TYPE OF STUDY FINANCING FORM
TUITION FEE/SEMESTER
Own-fundedstudy placefor EU/EFTA countries*
2490 Eur
Own-fundedstudy placefor non-EU/EFTA countries*
2990 Eur
Own-funded study place forVU/VUIBS alumni/VU Exchange students
2303 Eur
* The standard tuition fee (2303 Eur) applies to students admitted in the 2025/2026 academic year who complete their first autumn semester with a GPA of at least 95%. Academic performance is reviewed individually each semester.
During their studies, students may apply forVU Business School scholarships,social,incentive scholarships,and others. The information is announced every year through Business School communication channels.
University studies shall be completed when all requirements of the chosen full-time study programme are fulfilled. Graduates of University study shall receive a diploma certifying hereof.
If students fulfill the first and second cycle full-time study programmes with especially high results, they are issued a special CUM LAUDE diploma. If students fulfill the second cycle full-time study programme or the integrated study programme with especially high results and have distinct scientific competence, they are issued a special MAGNA CUM LAUDE diploma.
Diploma Supplement which identifies study subjects, their content, and results, is issued together with diploma. Diploma Supplement is a document that complies with the model agreed by the European Commission, the Council of Europe and UNESCO/CEPES; it supplements a higher education, Master or Bachelor diploma with the data required for international academic and professional recognition, provides a description of the nature and contents of the studies completed by its holder and gives details on the national higher education system.
Diploma Supplement is produced in Lithuanian and English and is issued to all graduates since 2006 automatically and free of charge as an integral part of the diploma.
Committee
Prof. Dr. Deimantė Vasiliauskaitė
Chairperson
Associate prof. Dr. Ieva Bužienė
Asist. Dr. Nerijus Černiauskas
Partnerystės doc. Robertas Vyšniauskas
Prof. Dr. Jekaterina Kartašova
dr. Simona Survilaitė
Global Compliance tyrimų vadovė
Socialinių partnerių atstovė
Simonas Rasimavičius
Socialinis partneris
NASDAQ Senior Manager - SystemsOperations
2 student representatives
Nasdaq
Gediminas Varnas – Chief Legal Counsel/Member of the Management Board at "Nasdaq Vilnius" | associate professor at VU BS:
“Today and in the future, managing sustainable finances and investments is especially relevant. The sector of finance needs leaders who are able to think and act in a strategic and innovative way while applying insights and ideas for sustainable business development. As a response to this relevant and growing market demand, Vilnius University Business school is launching a new master‘s study program – Sustainable Finance and Investments. In this program, one will gain valuable knowledge and skills in Blockchain / FinTech, sustainable investment and risk management, sustainable financial management, and decision-making in business.
This program is for those who follow global financial markets and investment management news and trends, and grounded on that, want to know how to manage the finances and investments of a sustainable business that they are in.”
+370 612 46 044
