ISM University of Management and Economics

ISM University of Management and Economics

ISM University of Management and Economics is an institution of undergraduate, graduate and post-graduate education in business, management and economics. The University serves as an advanced centre of market analysis, executive training and leading academic thought.

ISM University of Management and Economics was established in Kaunas in 1999 as the first privately owned institution of management education in Lithuania. The main founders of ISM are BI Norwegian Business School and The Norwegian Industrial and Regional Development fund. The predecessor of ISM was the Business Training Centre, well-known executive training institution in Lithuania.

Since the 1995, when the Business Training Centre took the beginning, the main motive power was to contribute to the development of Lithuanian business community in providing up to date management knowledge. By offering a variety of executive courses, management training programs, market research, personnel evaluation, BMC was recognized as a leading institution of management training and consulting in Lithuania. Now BMC is the training and consulting department at ISM.


Currently, there are six undergraduate and three graduate programs.

Undergraduate studies:[1]

  • Business Management and Analytics;
  • Economics;
  • Economics and Politics;
  • Finance;
  • International Business and Communication;
  • Industrial Technology Management.

Graduate studies:[2]

  • International Marketing and Management;
  • Financial Economics;
  • Innovation and Technology Management;

Executive studies:[3]

Business Process Management

  • Financial Strategy and Management;
  • International Business
  • Human Resource Management;
  • Leadership: Power Actualisation;
  • Managerial Accouting Analysis
  • Managerial Economics
  • Marketing Strategy and Management;
  • Project Management;
  • Strategic Management;

The campus

ISM in Vilnius. Parking is considered to be a major issue.

Studying facilities are arranged in the very centres of Lithuania’s two major cities: Kaunas and Vilnius. In Vilnius, the Capital, ISM resides in a 14th-century former monastery fully equipped in modern way. While in Kaunas, the campus is established in a newly reconstructed three-floor building from the early 1920s.

ISM in Vilnius

ISM in Vilnius is located in a historic building in the Old Town, a former Basilian monastery. The set of buildings, which was repaired thoroughly and with respect to their original historic heritage, has again become the center of science. The courses are held by prominent academics and excellent teachers in Management, Economics and related fields. Unlike many state universities, ISM is highly motivated to maintain its record as, possibly, the best educator for young and ambitious managers and entrepreneurs.

ISM in Kaunas

The ISM building in the centre of Kaunas is an example of modern architecture. The revived and modernly reconstructed building has been adapted to the students’ needs: seven light and spacious classrooms with a capacity of 520 students, conference halls, computer rooms, a library and a café have been arranged, the premises have been adapted for people with disabilities.

Quality accreditation

    • ISM has received an award from EDUNIVERSAL that placed ISM among the 300 top World Business Schools. It was granted four palms and, together with 200 business schools, was grouped under the second category “TOP Business Schools”. By this score ISM takes the leading position in Lithuania and ranks among the highest in Central and East Europe.
  • International Quality Accreditation (IQA)
    • Awarded to ISM in 2006 by the Central and East European Management Development Association (CEEMAN).
  • European Credit Transfer Label (ECTS label)
  • Accreditation by the Lithuanian Centre for Quality Assessment in Higher Education
    • The group of international experts who carried out the accreditation of business and management study programmes at Lithuanian universities in 2005 accredited the business and management bachelor’s and master’s degree programmes of ISM University of Management and Economics without any additional conditions.
  • ISM ranks first in the Lithuanian higher education institutions rating
    • Lithuanian weekly Veidas has published a rating of higher education institutions compiled based on eight different criteria: scientific and artistic activities of universities, the highest scores of academic staff and alumni activities, academic staff qualifications, the variety of fields of study, conditions for studies, a student survey, the labour market and the structure of financing. ISM University of Management and Economics collected 63.2 points out of 100, which was the highest score among private universities, and ranked second among all Lithuanian universities.


Prices have changed since 2009 with the introduction of the two new undergraduate programs. Different prices apply for undergraduate and graduate studies. Undergraduate studies, started in 2006, cost 3,900 LTL per semester (1,129 EUR) making 9,036 EUR for the whole programme. Fees are set to increase in 2007 for new students to 4,200 LTL (1,216 EUR). Discounts apply for 12 best students of every course (25 - 75 percent discounts). Graduate studies for European Union students cost 6,200 LTL per semester (approx. 1,800 EUR) making 24,800 LTL (approx. 7,200 EUR) for the whole programme. For non EU students one semester costs 8,200 LTL (approx. 2,400 EUR), amounting 32,800 LTL (approx. 9,600 EUR) for the programme.


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External links

  • Official website of ISM University of Management and Economics
  • Official website of ISM University Student Association