Your accounting, finance or economics degree could lead you into climate finance, global business or economic policy. Erasmus Mundus funding can help you get there. Three programmes are open right now for their next two year cohorts. They are GrEnFIn, GLOCAL and EPOG. Selected students can receive tuition support and a monthly allowance of 1400 euros.
But not every programme on the long Erasmus lists is open. This guide separates the open calls from the programmes to watch. It also shows how to match your degree to the right one.
Quick Facts
Official Information Verified: 15 October 2026
| Programme | Focus | Deadline |
| GrEnFIn | Energy markets sustainable finance and climate risk | 7 January 2027 at 11:00 CET |
| GLOCAL | Global business economic history and local markets | 14 January 2027 at 13:00 UK time |
| EPOG | Economic policy, finance, innovation and sustainable development | 27 January 2027 at 13:00 Paris time |
Each programme has its own application. There is no single form for all of them. A study place and a funded place are two separate results.
The Seven Programmes Compared
Choose by the work you want to do and the subjects you have studied. A finance graduate who likes climate risk starts from a different place than an economics graduate who wants policy research.
| Programme | Where your interests could fit | Status |
| GrEnFIn (Greening Energy Market and Finance) | Energy markets, sustainable finance and climate risk. Run by Bologna with LMU Munich and Paris Dauphine PSL | Open for 2027 entry with competitive scholarships |
| GLOCAL (Global Markets Local Creativities) | Global business economic history and how firms and places shape markets. You choose one study track | Open for 2027 to 2029 with scholarships |
| EPOG (Economic Policies for the Global Bifurcation) | Economic policy, finance, innovation and sustainable development with a pluralist economics approach | Two year programme open with scholarships |
| EGEI (Economics of Globalisation and European Integration) | International economics integration and economic policy | Closed. A new call with 1400 euros a month is not confirmed |
| EMMIE (Impact Entrepreneurship) | Entrepreneurship with social and environmental impact | Closed. Next recruitment planned for 2027 |
| UlysseusAI (AI for Business Transformation) | Business and AI. Starts in Finland then Spain or Slovakia. Suited to people with work experience | Next application period announced |
| QEM (Models and Methods of Quantitative Economics) | Mathematical economics, econometrics and research. Useful for quantitative finance and doctoral plans | No verified open 2027 scholarship call |
Focus first on the open programmes where your transcript and goals tell the strongest story. An accounting degree can be relevant. But its title alone does not prove the economics or maths background that a programme asks for.
What the Scholarship Covers
The allowance is competitive student support. Not every admitted student receives it.
| Programme | What the award includes |
| GrEnFIn | Participation costs and monthly support in both academic years |
| GLOCAL | Tuition and insurance plus a choice of two payment plans |
| EPOG | Tuition and health and accident insurance |
| UlysseusAI | Tuition exemption and the monthly allowance for selected scholarship holders |
GLOCAL gives two payment options. You can take 1400 euros a month. Or you can take 1275 euros a month plus three advances of 1000 euros for travel and setting up. The advances come from the same award. They are not extra money.
UlysseusAI has 50 scholarships for its whole six year funding period. They are not for a single intake. Without scholarship funding its tuition for non-EU and EEA students is 12000 euros a year.
Compare the payment timing with your visa travel and housing deposit before you accept an offer. A monthly allowance helps with living costs. But the payment plan decides how much money you need upfront.
What Your Degree and English Must Show
Each programme checks a different mix of study and experience.
| Programme | Main requirements |
| GrEnFIn | Economics or specified quantitative fields or suitable foreign equivalents. English level B2. Foreign accounting or finance degrees need an assessment by the admission board |
| EPOG | A bachelor’s of 180 ECTS or equivalent. 24 ECTS in economics and 6 ECTS in statistics or econometrics. At least 70 percent of the maximum GPA scale |
| GLOCAL | A UK 2:1 honours degree or an international equivalent. Fit is checked against your chosen track |
| UlysseusAI | Suitable higher education and at least two years of relevant work after your bachelor’s |
| QEM | Relevant degrees including finance. Strong maths such as calculus, linear algebra, probability and statistics |
English rules
- EPOG accepts IELTS Academic 7.0 and some other tests. A degree taught fully in English can also count
- GrEnFIn accepts listed B2 certificates. Applicants with nationality or degrees from the USA, Canada, Australia, New Zealand, Ireland or the UK are exempt. An English medium letter from another country does not automatically count
- GLOCAL needs English evidence by the scholarship deadline
- There is no single rule for all programmes
Collect your course descriptions and language proof before you polish your motivation letter. This gives the selectors real evidence to assess.
How To Apply Step By Step
Apply through each programme’s own portal. Start with the documents you can reuse: passport, degree or proof of a degree in progress, transcripts, CV, English proof and translations. Ask referees early.
GrEnFIn
- Follow the official instructions to the Bologna application system called Studenti Online.
- Pick the second cycle programme and your track.
- Upload the ISCED template your academic and ID documents English proof and your Europass experience record.
- GRE or GMAT scores are optional. Scholarship interviews are part of the selection.
- Visit Here to Apply
GLOCAL
- Use the GLOCAL scholarship page to enter the Glasgow portal.
- Pick one track.
- Upload the scholarship form two references and a personal statement of up to 1200 words.
- Send your English proof by the scholarship deadline.
- Visit Here to Apply
EPOG
- Open the EPOG admission page and follow the link to the application platform.
- Upload your academic documents CV passport language proof and two recommendations.
- Write a statement of purpose of up to 500 words. Name your preferred majors and minors.
- Visit Here to Apply
UlysseusAI
- Follow the Studyinfo link on the official programme page during the announced round.
- The application includes scholarship consideration. Previous Erasmus Mundus scholarship holders are the exception.
- Entrance exam results and regional quotas decide the awards.
- Visit Here to Apply
Keep EGEI, EMMIE and QEM on your list. Check their official pages for new calls.
Write each motivation letter around a different academic case. Name the problem you want to study. Show your preparation. List the courses that will help you. One general essay about studying in Europe wastes the best part of your application.
After you submit, check your portal and email for reference requests, interviews and decisions. Before you accept an offer make sure it includes a scholarship.
Mistakes To Avoid
- Treating all seven programmes as one scholarship
- Assuming a closed programme still has a funded call
- Relying on your degree title and not your actual courses
- Missing the programme specific English rules
- Sending the same generic motivation letter everywhere
- Forgetting that a later self funded round does not extend the scholarship deadline
- Accepting an offer without checking if it includes funding
Key Dates
| Programme | Dates |
| GrEnFIn | Deadline 7 January 2027 at 11:00 CET. |
| GLOCAL | Deadline 14 January 2027 at 13:00 UK time. |
| EPOG | Deadline 27 January 2027 at 13:00 Paris time. |
| UlysseusAI | Next application period 25 January to 8 February 2027 closing at 15:00 Finnish time. |
