ERASMUS BIP at the Faculty of Bioeconomic Development of the VMU Agriculture Academy: exploring AI in economic modelling
From May 12 to 16, 2025, the Faculty of Bioeconomy Development at Vytautas Magnus University Agriculture Academy (VMU AA) welcomed an inspiring cohort of doctoral and master’s students from across Europe to participate in the Erasmus Blended Intensive Programme (BIP) titled “AI in Economic Modelling.” This international event combined virtual and on-site learning, with the preparatory session held online on May 5 and the in-person programme taking place in Kaunas, Lithuania.
The participant group reflected the programme’s truly European character: doctoral students arrived from Finland, Latvia, Estonia, Romania, Croatia, and Lithuania, while a group of highly motivated master’s students represented Poland. Their diverse backgrounds and shared interest in advanced AI applications in economics created a vibrant and collaborative academic environment.
AI Tools for the Economists of Tomorrow
The core of the programme focused on the integration of artificial intelligence in the construction and simulation of economic models. Students were introduced to state-of-the-art methods such as neural networks, fuzzy systems, probabilistic reasoning, and evolutionary computing. Topics in explainable AI were emphasized, along with comparative insights on traditional mathematical and statistical modelling.
The lectures were delivered by an esteemed lineup of professors, including Prof. Dr. Vesa Niskanen (VMU & University of Helsinki), Prof. Laszlo T. Koczy (Budapest University of Technology and Economics), Academician Janusz Kacprzyk (Polish Academy of Sciences), Prof. Chister Carlsson (IAMSR, Finland), and Prof. Dr. Irina Archipova (Latvia University of Life Sciences and Technologies). Their sessions spanned topics from decision support systems and fuzzy analytics to the differences between machine learning and statistical models.
Cultural Enrichment and Networking
Beyond the academic programme, students had the opportunity to explore Lithuanian culture and history through a guided excursion in Kaunas Old Town. Social gatherings, including a welcome dinner at the traditional “Medžiotojų užeiga” restaurant, encouraged participants to network and build lasting academic friendships.
Panel discussions and informal conversations enhanced the sense of collaboration, creating an atmosphere of openness and intellectual curiosity. The week blended structured learning with spontaneous exchange, fostering a strong sense of international academic community.
A Platform for Future Collaboration
This course was also part of the collaborative activities within the BOVA-NOVA university network, initiated and supported by the BOVA university network. It reflected the ongoing efforts to strengthen regional cooperation in higher education and research across the Baltic and Nordic countries.
Organized by Dr. Monika Medikienė (VMU Agriculture Academy International Coordinator) and Dr. Ekaterina Makrickienė (VMU Agriculture Academy BOVA Coordinator), with academic leadership from Prof. Dr. Vesa Niskanen (VMU Faculty of Bioeconomy Development and University of Helsinki), the programme granted participants 3 ECTS credits and was financed by the Erasmus+ funds and internal funds of BOVA university network.
The BIP “AI in Economic Modelling” not only empowered students with cutting-edge AI knowledge but also encouraged intercultural dialogue and laid the foundation for future interdisciplinary research collaborations. As AI continues to contribute to the economic landscape, programmes like this play a critical role in preparing the next generation of economists to lead with insight, innovation, and international perspective.
