Master in Financial and Actuarial Mathematics
Vilnius, Lithuania
Master degree
DURATION
3 semesters
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
01 Jul 2026*
EARLIEST START DATE
01 Sep 2026
TUITION FEES
EUR 6,000 / per year **
STUDY FORMAT
On-Campus
* 1 May for applicants from non-EU/EFTA countries | 1 July for citizens of EU/EFTA
** for non-EU students | for EU students: 5,538 € | application fee EUR 100
Key Summary
The study program 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 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.
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.
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.
- 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.
Scope of studies: 90 ECTS credits
Length: 1.5 years
1st Semester
Compulsory courses
- Financial Technology Models
- Selected Topics in Analysis
- Stochastic Analysis
- Probability Theory and Mathematical Statistics
Elective courses*
- Time Series Analysis
- Data Mining
2nd 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
3rd Semester
Compulsory courses
- Final Thesis
*Available elective courses might vary from year to year.