Associate Professor at Department of Banking and Financial Markets. MA in Economics (1997, Faculty of Economics at UMCS), MSc in Mathematics (1998, Faculty of Mathematics and Physics at UMCS), PhD in Economics (2004, Faculty of Economics at UMCS), habilitated doctor in the discipline of economics and finance (2020, Faculty of Economics at UMCS). Dean of the Faculty 2020-2024.

He conducts or conducted classes in Modeling and valuation of financial instruments, Fintech Project, Introduction to Finance, Behavioral Finance, Investment Finance, Master's Seminar, and other. He has promoted over 100 postgraduate and over 70 undergraduate students. Member of the Sectoral Council for Competences in Modern Business Services and Advisory Council at the Employees of Lubelskie Region. Lecturer at the UMCS Kid's University. Founder (1999), coordinator (until 2011) and lecturer at the Warsaw Stock Exchange School, Lublin Branch. Business consultant in financial management since 2007, CEO at consulting firm, delivered solutions in company valuation, business modeling and forecasting. Member (past and current) of several supervisory boards, incl. Lubman UMCS sp.z o.o., FAWAG Lubelskie Fabryki Wag S.A., Interbud-Lublin S.A., Syntea S.A., Edbak sp.z o.o., Bioinnova sp. z o.o.

Scientific interest

Author of over 70 scientific papers, chapters and books. His research interests focus on the mechanisms and modeling of the capital market and investment decision-making. He conducts research on the experimental agent model of the stock market and modeling investment decisions by its participants with behavioral biases. He was the main researcher, contractor and expert in research and innovation projects of the National Science Center, Maria Curie-Skłodowska University, the Center for Knowledge and Technology Transfer at UMCS, Polish Academy of Sciences Lublin Branch Foundation, the Marshal's Office of the Lublin Province, the Lublin Science and Technology Park, PARP. Editor of the „Economic Psychology” journal (Psychologia Ekonomiczna).

 Key publications in English

1. Gunawan J., Rudiawarni F. Sulistiawan D., Kicia M. (2025): How Media Visibility Affects Earnings Management: The Moderating Effects of Public Ownership, International Journal of Social Economics, Vol. (ahead-of-print) No. (ahead-of-print). https://doi.org/10.1108/IJSE-02-2024-0120.
2. Kowalska A., Hałka M., Budzyńska A., Kicia M., Terpiłowski K. (2024): Fertilizer Price Surge in Poland and Beyond: Seeking the Way Forward towards Sustainable Development. Sustainability. 2024; 16(16):6943. https://doi.org/10.3390/su16166943.
3. Kicia, M. Kordela, D. (2023): "Effects of Fiscal Policy and Monetary Policy on the Capital Market in Poland", Bukalska, E., Kijek, T. and Sergi, B.S. (Ed.) Modeling Economic Growth in Contemporary Poland (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 131-144. https://doi.org/10.1108/978-1-83753-654-220231008
4. Danieluk, B., Muda, R., Kicia, M., & Stasiuk, K. (2020). Expertise is in the Eye of the Beholder–Financial Advisor Evaluations and Client Satisfaction as a Result of Advisor Recommendations. Polish Psychological Bulletin, vol. 51(1), 14-22.
5. Muda Rafał, Kicia Mariusz, Michalak-Wojnowska Małgorzata, Ginszt Michał, Filip Agata, Gawda Piotr, Majcher Piotr (2018): The Dopamine Receptor D4 Gene (DRD4) and Financial Risk-Taking: Stimulating and Instrumental Risk-Taking Propensity and Motivation to Engage in Investment Activity, Frontiers in Behavioral Neuroscience, 2 Marca 2018, https://doi.org/10.3389/fnbeh.2018.00034
6. Kicia Mariusz, Muda Rafał (2018): Retail Client’s Satisfaction With Investment Advice. Is MiFID II a Desired Regulation?, Problemy Zarządzania - Management Issues, 16 (2(74) Financial markets...): 131-142. [link]
7. Patterson Robert, Kicia Mariusz (2016): Capital Where It is Wanted. A Practitionier's Guide to Financial Management, UMCS Press, Lublin, ss. 456.
8. Kicia Mariusz (2016): Confidence in long-term financial decision making - case of pension system reform in Poland, Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, nr  428, s. 117-127.
9. Kicia Mariusz (2015): Barriers to the Development of Innovative Entrepreneurship: Synergy between Science and Business in Lublin, [w:] Pastuszak Zbigniew, Żuk Krzysztof,  Sagan Mariusz (red.), Peripheral Metropolitan Areas in the European Union The Case of Lublin, To Know Press Bangkok-Celje-Lublin, s. 132-136.
10. Kicia Mariusz (2014): The Lubelskie Vocational Qualifications Framework – an Innovative Approach to Effective Teaching of Professionals, [w:] 3 red. Spoza (red.), Human Capital without Borders: Knowledge and Learning for Quality of Life Proceedings of the Management, Knowledge and Learning International Conference 2014 25–27 June 2014, Portorož, Slovenia, To Know Press Bangkok-Celje-Lublin, s. 1139-1145.
11. Kicia Mariusz (2013): Heuristic Valuation and Investment Performance of Individual Investors, Annales Universitatis Mariae Curie-Skłodowska. Sectio H. Oeconomia, nr 47 (4), s. 67-78.
12. Kicia Mariusz (2013): Can Heuristic Valuation Improve Investment Performance of Individual Investors?, Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of 2013 International Conference on Technology Innovation and Industrial Management Conference, ToKnowPress, S2, s. 33-49.
13. Kicia Mariusz (2010): Does Gender Explain Financial Effectiveness? A Case of Warsaw Stock Exchange Listed Companies, Proceedings of 2010 International Conference on Technology Innovation and Industrial Management, 15-18 June 2010, Pattaya, Thailand, ss.  15.
14. Kicia Mariusz (2009): Stock Market Behavioral Agent-Based Modeling, Proceedings of 2009 International Conference on Technology Innovation and Industrial Management, 18-19 June 2009, Bangkok, Thailand, ISBN: 978-974-300-248-9, s.  15-26 (Section S4).