Study Business & Finance in Italy

Here’s a list of the best Universities to study Economics in Italy:

• • Bocconi University (Milan)
  • LUISS University (Rome)
  • Politecnico di Milano – School of Management
  • University of Bologna
  • University of Milan
  • University of Padova
  • Università Cattolica del Sacro Cuore (Milan and Rome)
  • LIUC – Università Cattaneo (Varese)

Take a look at our University ranking page to learn more about these Universities’ world ranking.

The TOLC-E (Test OnLine CISIA for Economics and Business) is an entrance exam used by many Italian universities for admission to Business and Finance programs. It consists of the following sections: 

At the end of the test, candidates will also sit a 15-minute English test made up of 30 questions. Depending on the result, candidates will be advised either to follow a beginner, elementary, or intermediate course, or to directly take a B1 exam if their level is already high enough. 

The test evaluates students’ skills in quantitative reasoning, logical thinking, and comprehension, which are crucial for success in business and finance studies. The total duration of the test is 100 minutes. It can be taken either at designated test centers (TOLC@UNI) or online (TOLC@CASA), providing flexibility for students. 

There are different dates for the TOLC-E test depending on the chosen University and on the chosen program. All exam dates for the TOLC-E tests are available here.

From November 2025 TOLC – I will be replaced by a new unified test, CenT-S (CISIA English Test Sciences) valid for admission to Engineering, Economics and Pharmacy.

Each year the Italian Ministry of Education releases updates for the admission process with precise dates etc. Admission procedures can change depending on each university.

Below are general estimates based on previous years.

FEBRUARY – AUGUST: Register for and sit the TOLC exam
TOLC can be taken once per month (TOLC at the University or TOLC@home. Results are shown immediately. 

APRIL – JUNE: Pre-enrollment at the Italian embassy/consulate in country of origin*
Documents needed: Declaration of Value; legalized and apostilled translation of High School Diploma (12 years)

JUNE – SEPTEMBER: Visa application*

Documents needed: Confirmation letter of application to the exam; International Health Insurance; Declaration of Financial capacity

SEPTEMBER – OCTOBER: Enrollment

Documents needed: Passing the admission test, Student visa + Permit of stay*, Payment of the tuition fee for the first year

*This step is only for non-european students.

Italian universities offer affordable education options to both EU and non-EU students.

Public universities, known for their good reputation in academics, usually charge lower tuition fees compared to private ones: the fees at public universities can range from about €900 to €4,000 per year, while private universities fees may charge up to €14,000 per year. 

Detailed information can be found on the chosen university website. 

Your family’s income can also affect how much you pay. If you’re from a low-income family or excel academically, you might qualify for scholarships or financial aid to help cover your tuition fees.