ISM University has a doctoral program in economics together with Vytautas Magnus University and Mykolas Romeris University.

About the program

ISM Doctoral programme in Economics is designed to develop competencies allowing to identify relevant economic, financial and societal problems, to conduct high quality research and publish their results in internationally recognised peer-reviewed journals.


Doctoral students are encouraged to take part in international internships and courses at foreign Universities and to obtain European Doctorate Certificate together with their Doctoral diploma.


ISM doctoral student research contributes to the understanding of monetary policy and financial asset valuation, analysis of economic sector networks and the spread of economic shocks, national tax competition and corporate tax evasion, financial behaviour, corporate insolvency, the impact of emerging technologies on financial and labour markets, sustainability and other economic phenomena in the different contexts.


Part-time doctoral studies provide an opportunity to combine a professional career with a doctorate. The knowledge and research skills acquired in doctoral studies provide an opportunity to apply research-based solutions in professional activities.


ISM Doctoral Studies in Economics are organized together with Vytautas Magnus and Mykolas Romeris University.

Read more
Full time: 4 years; Part time studies: 6 years; Externally: up to 1 year.
Doctor of Economics

Program benefits

Possibility to create knowledge
That advances economic science
Personal development
Advanced research skills transferable to professional activity, critical and analytical thinking
Research-based decisions
Research informed decisions make a greater impact
Empowering and supportive academic environment
A strong doctoral student community
I was aware of the fact that high-level scholars come to teach doctoral courses, which is very important when growing up as a researcher. Doctoral studies showed that I made the right choice.
Dr. Pijus Krūminas
ISM lecturer

Publications of Doctoral Students

Kundelis, E. (2020)
Debt or profit shifting? Assessment of corporate tax avoidance practices across companies operating in small open economies: evidence from Lithuania
In Globalization and its Socio-Economic Consequences 2020, October 21st-22nd, 2020 (pp. 1-1). Zilina: University of Zilina
Kundelis, E. (2021)
Assessment of corporate tax avoidance across companies operating in small open economies: Evidence from Slovakia
In 7th Shadow Conference: The Shadow Economy, Tax Behaviour and Institutions, 23-25, September (pp. 1-1). London: Shadow 2021 Organizing Committee
Žukauskas, V. (2021)
Measuring the quality of money
Quarterly Journal of Austrian Economics, 24(1), 110–146
Žukauskas, V. (2020)
The Implications of Monetary Policy on the Value and Prices of Financial Assets [Doctoral dissertation]
ISM University of Management and Economics
Barauskaitė-Griškevičienė, K. (2021)
The Impact of Intermediate Production Networks on Aggregate Fluctuations and the Transmission of Shocks [Doctoral dissertation]
ISM University of Management and Economics
Kundelis, E. (2022)
Assessment of the Impact of Corporate Tax Avoidance on Financial Leverage in Small Open Economies [Doctoral dissertation]
ISM University of Management and Economics
Barauskaitė, K., & Nguyen, D. M. A. (2021)
Direct and network effects of idiosyncratic TFP shocks
Empirical Economics, 60(6), 2765-2793
Barauskaitė, K., & Nguyen, A. D. M. (2021)
Global intersectoral production network and aggregate fluctuations
Economic Modelling, 102, 1-15


Admission and other information

Dissertation defense
Doctoral Committee


State scholarships for full time studies (4 years)*

The scholarships will be offered to full-time doctoral students in Management and Economics. A scholarship covers the tuition fee and provides a student grant (for first-year doctoral students – 931 EUR/month; for second, third, and fourth year doctoral students – 1078 EUR/month). Candidates to the state doctoral study scholarships are selected by means of competition according to the results of the competitive entry score.

Tuition fees discounts

Doctoral students who are graduates of an ISM Bachelor’s, International Master’s, or Master’s degree in Management are granted an ISM graduate discount. The amount of the discount is 30% of the tuition fee paid for the entire study period. The discount is also given to doctoral students who have received a high competitive score.

Doctoral candidates may present their dissertation for defense when they:

  • Pass all the examinations provided in the doctoral study program
  • Present their most significant research results in at least 2 articles published (or accepted for publication) in scientific peer-reviewed journals, or scientific monography
  • Present their research results during at least 2 international scientific gatherings (conferences, seminars)
  • Complete academic practice

Doctoral Committee of Economics programme


Doctoral Committee is composed of researchers from all participating partner universities, co-ordinates, and assures the quality of doctoral studies and scientific research. Doctoral Committee evaluates research topics of doctoral students, approves individual study programs, considers doctoral supervision issues, monitors doctoral student research progress, and assesses the quality of doctoral dissertations.

Doctoral Committee of Economics:

  • Prof. dr. Vilija Aleknevičienė – VMU
  • Doc. dr. Aušra Pažėraitė – VMU
  • Prof. dr. Kristina Levišauskaitė – VMU
  • Prof. dr. Violeta Pukelienė – VMU
  • Prof. dr. Vlada Vitunskienė – VMU
  • Prof. dr. Ričardas Krikštolaitis – VMU
  • Doc. dr. Mindaugas Butkus – VMU
  • Prof. dr. Ilona Bučiūnienė – ISM
  • Prof. dr. Valdonė Darškuvienė – ISM
  • Prof. dr. Eglė Kazlauskienė – MRU
  • Prof. dr. Asta Vasiliauskaitė – MRU
  • Prof. dr. Zita Tamašauskienė – VU
  • Prof. dr. Daiva Beržinskienė-Juozaitienė – VU

Useful links


Considering studies at ISM?

Register for a consultation and we will answer all your questions!

Prof. dr. Ilona Bučiūnienė

Dean of Doctoral School
+370 5 212 3960

Ugnė Gervickaitė

Doctoral Studies Officer
+370 612 59672