Vilnius University Faculty of Economics and Business Administration

What Vilnius University Faculty of Economics and Business Administration does

Vilnius University Faculty of Economics and Business Administration (VU EVAF) is a constituent faculty of Vilnius University, a public Lithuanian higher education institution founded in 1579. The faculty delivers bachelor's, master's, MBA, and doctoral programmes in economics, finance, business administration, marketing, accounting and audit, and quantitative economics. Its flagship English-taught offerings include the BSc in Quantitative Economics (3,660 EUR/year for self-paying students) and the MBA Business Development programme (12,600 EUR/year), alongside Lithuanian-taught degrees. The faculty also runs a double-degree pathway with Jean Monnet University's Saint-Étienne School of Economics in France launched in 2024, and offers a mandatory 390-hour professional internship, ERASMUS+ exchanges to 27+ countries, and access to the VU Tech Hub pre-accelerator for entrepreneurship.

VU EVAF operates under Lithuania's Ministry of Education, Science and Sport with significant industry integration. The Bank of Lithuania co-designed the Quantitative Economics programme, provides the Vladas Terleckas Memorial Scholarship (3 awards annually at 5 MMA each), and recruits graduates. Nasdaq Vilnius funds three annual scholarships and recruits QE graduates for technology and finance roles serving 130+ global financial markets. Additional partners include EY, PwC, SEB Bank, Teltonika, Gjensidige, and Metida for internships. The faculty holds AACSB and EFMD Global accreditation, is a member of ARQUS and Coimbra Group university alliances, and conducts research via two dedicated laboratories: the Consumer Decision Making Lab (CDM LAB) and VU LABBE (Laboratory for Behavioral Economics). Recent recognitions include 1st place at the L'Oréal Brandstorm 2026 regional final (Baltic + Poland) and the ARQUS International Innovators Award 2026.

The business model combines state-funded study places (no tuition for eligible EU/EFTA citizens) with tuition from self-paying students, supplemented by an endowment subfund managed by the VU Foundation, consultancy and custom training revenue, and scholarship sponsorship. Core educational technology includes Bloomberg LAB for hands-on financial market data analysis, integration of the CORE project and OpenStax open-source teaching resources into the Quantitative Economics curriculum, and a virtual learning environment accessible via smartphone and tablet. The faculty publishes three scholarly journals (Ekonomika, Organizations and Markets in Emerging Economies, and Accounting Theory and Practice) and serves both Lithuanian and international student cohorts across its programme portfolio.

Name

Vilnius University Faculty of Economics and Business Administration

Legal name

Vilnius University Faculty of Economics and Business Administration (Ekonomikos ir Verslo Administravimo Fakultetas)

Website

https://evaf.vu.lt

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Vilnius University Faculty of Economics and Business Administration is a public academic faculty in Lithuania offering BSc, MSc, MBA, and PhD programmes in economics, finance, and business, serving domestic and international students with industry-backed curricula.

Ownership category

akta.pro rank

Product category

Higher Education Services

NAICS

Colleges, Universities, and Professional Schools (611310), Professional and Management Development Training (61143), Professional and Management Development Training (611430)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Finance, Accounting & Economics Schools (EDAHAHAD)

akta.pro secondary industries

Technical Universities with Entrepreneurship & Incubation Focus (EDAHAEAH), Financial Data, Analytics & FinTech Tools (BI, ERP, Automation) (EDABAJAM)

Keywords

• Higher education programs
• Business administration degrees
• Economics and finance education
• Executive MBA programs
• University research services

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. State-funded education: State-funded study places for eligible EU/EFTA citizens and permanent residents of Lithuania, funded by the Lithuanian government. No tuition charged to state-funded students.
2. Tuition fees - self-paying students: Self-paying students (non-EU/non-EFTA or those not qualifying for state funding) pay annual tuition fees. Quantitative Economics: 3,660 EUR/year; MBA Business Development: 12,600 EUR/year. Revenue collected per student per academic year.
3. VU EVAF Endowment Subfund: The faculty operates a dedicated endowment subfund (VU EVAF neliečiamojo kapitalo subfondas) managed by the VU Foundation (vuf.lt), providing supplementary funding from donations and alumni contributions.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

VU EVAF is a faculty of Vilnius University providing higher education programs (BSc, MSc, MBA, PhD) in economics, finance, business administration, accounting, global marketing, and quantitative economics. The faculty also delivers executive education, corporate training, and consultancy services, supported by research laboratories (CDM LAB, VU LABBE) and the VU Tech Hub pre-accelerator for entrepreneurship.

Product overview

Vilnius University Faculty of Economics and Business Administration (VU EVAF) is an educational institution offering a portfolio of academic programmes and research services. The core educational offerings include the MBA Business Development programme (a practice-oriented Master of Business Administration for middle-level managers covering strategic management, corporate finance, organizational behavior, strategic marketing, digital transformation, sustainability, and financial technologies), and the Quantitative Economics BSc programme (a rigorous three-year English-taught degree covering economics, finance, and data science). The faculty also offers double-degree opportunities with Saint-Étienne School of Economics in France. Supporting services include the VU Tech Hub Pre-accelerator for entrepreneurship, research laboratories (CDM LAB for consumer decision-making and VU LABBE for behavioral economics), the Erasmus+ exchange programme, mandatory professional internships (15 credits/390 hours), and three scholarly journals (Ekonomika, Organizations and Markets in Emerging Economies, and Accounting Theory and Practice).

Differentiator

Problem solved

Functional benefit

Brands

• VU Tech Hub Pre-accelerator: Pre-accelerator program supporting entrepreneurship and business development for students and the business community.
• VU LABBE - Laboratory for Behavioral Economics
• Consumer Decision Making Lab (CDM LAB)

Products and services

• MBA Business Development Master of Business Administration programme for middle-level managers (3+ years experience) covering strategic management, corporate finance, organizational behavior, strategic marketing, business and digital transformation, and financial technologies. Delivered in English.
• Quantitative Economics BSc Three-year English-taught Bachelor of Science programme in Quantitative Economics co-designed with Bank of Lithuania researchers, covering economics, finance, and data analysis with a rigorous quantitative approach.
• Double Degree Programme with Saint-Étienne School of Economics Double-degree partnership with Jean Monnet University's Saint-Étienne School of Economics allowing Quantitative Economics students to spend their third year in France and graduate with diplomas from both institutions.
• Bachelor's Degree Programmes (General) Bachelor-level degree programmes in economics, finance, business administration, accounting and audit, global marketing, and quantitative economics offered through the national admissions system and VU international admissions portal.
• Master's Degree Programmes (General) Master-level degree programmes in finance, management, accounting and audit, global marketing, and related fields, with English- and Lithuanian-taught tracks.
• Doctoral Degree Programmes PhD/doctoral research programmes in economics, management, and related fields at Vilnius University Faculty of Economics and Business Administration.
• VU Tech Hub Pre-Accelerator Entrepreneurship pre-accelerator programme providing mentorship, resources, and startup development support for students and the business community in Vilnius.
• Corporate Training and Executive Education Customised professional development training, executive education, and corporate programmes delivered to organisations and working professionals.
• Consultancy Services Expert consultancy services delivered by VU EVAF faculty to businesses and organisations, providing research-driven business insights.

Quantifiable outcome

• 38% of Quantitative Economics graduates pursue further studies at top-tier European universities
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• Saint-Étienne School of Economics at Jean Monnet University (University of Lyon)coreStrategic or Co-development Partner · 1 January 2024Double-degree partnership launched in 2024: selected Quantitative Economics students spend their third year at the Saint-Étienne School of Economics (France) and graduate with both a BSc in Quantitative Economics from Vilnius University and a BSc in Economics from Jean Monlin University. Courses delivered by GATE Lyon Saint-Étienne researchers. Students do not pay tuition fees to the host institution and may receive Erasmus+ funding.
• ARQUS AlliancemajorStrategic or Co-development PartnerARQUS is a European university alliance (including Spanish and other European universities) providing exchange opportunities and the ARQUS International Innovators Award competition for VU EVAF students. VU joined the ARQUS network in 2019. Exchanges are funded by Erasmus+ and follow ERASMUS+ rules.
• Coimbra GroupmajorStrategic or Co-development PartnerCoimbra Group is a European university network providing exchange and collaboration opportunities. VU joined in 2019. Exchanges with Coimbra Group members are funded by Erasmus+ and follow ERASMUS+ rules and deadlines.
• ERASMUS+ ProgrammecoreStrategic or Co-development PartnerERASMUS+ provides student and staff mobility to 27 EU/EFTA/Turkey countries. VU has participated since 2007. Students can undertake study exchanges and internships abroad. Selection is competitive based on weighted GPA (50%), motivational essay (40%), and volunteering (10%).
• ISEP (International Student Exchange Programs)minorChannel Partner/ Reseller/ DistributorVU participates in ISEP, enabling student exchanges to US and other non-EU destinations. Part of the bilateral exchange framework.
• Metida (IP law firm)minorOthersMetida provides internship opportunities for VU EVAF students. Contact: Loreta Magilevičiūtė (Ministry of Economy), Aistė Matuliauskienė (CPVA), Indrė Kukučionienė (Metida office).
• SEB BankminorOthersSEB Bank provides internship opportunities for VU EVAF students as part of the internship partner network.
• TeltonikaminorOthersTeltonika (IoT technologies) provides internship opportunities for VU EVAF students. Contact: Rūta Urbanienė.
• GjensidigeminorOthersGjensidige (insurance) provides internship opportunities for VU EVAF students. Contact: Giedrius Vilkuotis.
• AACSB InternationalcoreStrategic or Co-development PartnerAACSB (Association to Advance Collegiate Schools of Business) accreditation membership. One of the world's oldest and most recognised business education accreditations, demonstrating commitment to excellence in business education.
• EFMD GlobalcoreStrategic or Co-development PartnerEFMD Global membership. EFMD is a global non-profit membership organisation that accredits business schools and is a leading network in management and leadership development.
• BMDA (Baltic Management Development Association)majorStrategic or Co-development PartnerBMDA membership. Baltic Management Development Association connecting business schools and companies in the Baltic region.
• CORE ProjectmajorStrategic or Co-development PartnerCORE (Curriculum Open-source Resources for Economics) project provides open-source, high-quality teaching resources for economics education, integrated into the first year of the Quantitative Economics programme.
• Academy of Marketing Science (AMS)majorStrategic or Co-development PartnerAMS and VU EVAF co-organise the AMS World Marketing Congress 2026 at VU TechHub. LiMA (Lithuanian Marketing Association) is also a co-organiser. Academic-industry collaboration bringing world-class marketing professionals to campus.
• EuroMed Academy of BusinessmajorStrategic or Co-development PartnerVU EVAF hosted the EuroMed Academy of Business Conference 2023, an international academic business conference connecting researchers and practitioners.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Stockholm School of Economics in Riga (SSE Riga): Baltic-based English-taught business school that recruits from the same international student pool as VU EVAF's English programmes and competes for QS/FINECO rankings visibility in the region.
• Kaunas University of Technology (KTU) School of Economics and Business: Lithuania's second-largest public university with a strong economics and business faculty. Competes with VU EVAF for domestic students, state-funded places, and faculty hiring.
• University of Tartu Faculty of Economics and Business Administration: Estonia's premier public economics and business faculty. Direct Baltic peer, similarly organized around BSc/MSc/PhD programmes, and competes for international students via Erasmus+.
• ISM University of Management and Economics: Lithuania's leading private business school, offering BSc, MSc, MBA, and executive programmes in Vilnius and elsewhere. Competes directly with VU EVAF for Lithuanian and international students in economics and business.

Broad incumbents

• Corvinus University of Budapest: Central European public university with internationally accredited business and economics programmes. Comparable scale and AACSB-EQUIS positioning, competing for international students and Erasmus+ visibility.
• Copenhagen Business School: Large Nordic triple-accredited business school. A benchmark for AACSB/EFMD programme quality and Erasmus+ destination competitor for VU EVAF graduates pursuing master's degrees.
• Bocconi University: Top European business school where 38% of VU EVAF's QE graduates continue their studies. Represents the natural next-step / competitor for advanced economics master's students.

Regional players

• BI Norwegian Business School: Norwegian business school with strong Scandinavian and European positioning in economics, finance, and executive education. Competes for the same pool of European students seeking English-taught business master's degrees.
• Riga Technical University Faculty of Engineering Economics and Management: Latvian technical university with a business-administration faculty. Regional peer in the Baltic academic market sharing access to Erasmus+ and the Nordic-Baltic corporate pipeline.

Emerging players

• ESMT Berlin: European business school with strong focus on technology, analytics, and management. Comparable in offering MBAs and executive education with a quantitative/analytics emphasis similar to VU EVAF's positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCNn05PK-bRgNNvgz44pulWw
• Facebookfacebook.com/ekonomika.verslas.vu
• LinkedInlinkedin.com/company/vu-economics-business-administration
• Instagraminstagram.com/vu.evaf

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Vilnius University Faculty of Economics and Business Administration