2023-09-05
Student of Quantitative Economics Urtė who won the Bank of Lithuania scholarship: it was an opportunity to gain knowledge abroad
Urtė Kalinauskaitė, who dreamt of studying economics at an international level, was able to achieve it in Lithuania – this year she graduated from the Bachelor’s degree programme in Quantitative Economics, supervised by the Bank of Lithuania, at Vilnius University. Not only did Urtė receive high-quality education, but she was also awarded the Bank of Lithuania scholarship, which she is already using to further her education and build a successful career.
Growing up, Urtė had many dreams, but it was during her first economics lesson at school that the idea of pursuing a career in economics was sparked and has never left her. The young girl was particularly interested in the fact that economics combined many of the disciplines that were important and interesting to her.
When looking for an international study programme that best suited her interests, she first set her eyes on Vilnius University, and ultimately on the three-year Quantitative Economics study programme. Urtė was fascinated by the opportunities to develop her critical thinking, to learn not only the principles of economics, but also the data analysis skills needed to apply them in the real world.
“It was hard to resist, especially when I had the opportunity to learn from top experts and internationally renowned researchers in their field. I can now wholeheartedly recommend this study programme to all students. Moreover, the university internship in the area of climate change at the Bank of Lithuania and the subsequent work in the Macroprudential Policy Division of the Bank helped me to gain professional experience and provided the opportunity to apply the knowledge already acquired. It also gave me a better understanding of the type of work I would like to do in the future – bringing benefits to society has become a very important aspect,” says Urtė.
The graduate adds that the Quantitative Economics study programme and her work at the Bank of Lithuania have also helped her develop her teamwork and independence skills. She is confident that these qualities will help her to further develop her knowledge and gain more experience in other jobs.
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Opportunity to concentrate on studies
One of the biggest advantages of the Quantitative Economics study programme is that it is taught entirely in English. It gives access to up-to-date academic material and makes it easier to further continue studies at foreign universities. This year Urtė will pursue a Master’s degree in Policy Economics at Erasmus University Rotterdam in the Netherlands.
The Bank of Lithuania scholarship awarded to students of the Quantitative Economics study programme has undoubtedly contributed to the opportunity to further develop their knowledge of the field at a foreign university. The scholarship amounts to five minimum monthly wages (MMW) set by the Government (as of 2022, 1 MMW = EUR 730). Having learned about the scholarship from the administration of Vilnius University and with encouragement from her colleagues at the Bank of Lithuania, the high-performing student submitted her application and, after a motivational interview, soon received the joyful news that she had been awarded the Bank of Lithuania scholarship. She is already using it to cover the costs of her Master’s studies.
“When I heard about this scholarship, I already knew I wanted to continue my studies abroad and was looking for additional funding. These opportunities are also relevant for students who come to Vilnius from other cities or countries to study. The Bank of Lithuania scholarship and similar initiatives can give such students the opportunity to spend more time on quality studies without having to worry about living costs,” she believes.
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Wants to build prosperity in Lithuania
Urtė is convinced that such scholarships can also provide additional motivation to achieve better results in studies – the scholarship is awarded twice a year: the amount equal to 2.5 MMW is granted by 15 October of the current year and the amount making 2.5 MMW – by 15 February of the current year, if the student continues their studies without any academic debts.
Encouraged to do her best and given the opportunity to pursue academic excellence abroad, Urtė plans to look for opportunities to further her studies in the EU and the euro area after her studies, before returning to her home country.
“Returning to Lithuania is my key priority as I want my work to contribute to the prosperity of the country and its people,” says Urtė.
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Three Bank of Lithuania scholarships are awarded at the beginning of each academic year: one for a student in each year, i.e. for first, second and third-year students.
The scholarships are awarded on the basis of high academic achievements (students’ exam scores and entrants’ entry scores) and motivation (motivational letter, written recommendation from the mentor assigned to the student (not required for entrants) and motivation during the interview). All this is provided for in the Regulations for the Award of the Bank of Lithuania Scholarship approved by the Board of the Bank of Lithuania.
Students and entrants must apply for a scholarship no later than by 15 September each year (inclusive).
Find out more about the Bachelor’s degree programme in Quantitative Economics at Vilnius University supervised by the Bank of Lithuania here.