The College of Business and Economics (CBE) offers a Master of Science in Economics (MSE) to prepare graduates for careers and advanced study in economics applied research and public policy.

The MS in Economics is an academically rigorous program with strong quantitative and applied research components, targeting students who have work experience and professional aspirations in the fields of economics, finance and forecasting. The program emphasizes extensive training in mathematical and statistical methods, including significant exposure to econometrics and forecasting, and working with data sets and statistical software. This gives students the applied skills necessary to succeed at the workplace or further pursue advanced doctoral level degrees.

The curriculum aims to:

  • Equip students with theoretical knowledge, quantitative skills, and applied analytical abilities to investigate and solve economic problems
  • Prepare students for careers and advanced studies in a wide range of fields in economics and finance

AUA aims to prepare not only well-grounded specialists but also well-rounded individuals, able to think critically and creatively, to learn independently, to understand different thought processes, to work collaboratively, and to communicate effectively with people from different cultures and disciplines.

Career options for graduates of this program include government employment, public, and private banking or financial institutions, insurance, consulting, corporate strategic planning, real estate, environmental, urban and regional planning, and quantitative analysis.

Degree Requirements

The MS in Economics requires successful completion of a minimum of 36 semester-credits. These are divided into core courses and track electives in Monetary and Macroeconomic Policy, Quantitative Finance and Applied Economics:

Core Courses – 7 courses (24 credits):

  • Quantitative Methods for Economists (Mathematical Economics)
  • Economic Statistics
  • Microeconomic Theory
  • Macroeconomic Theory
  • Econometrics
  • Economic Research Seminar
  • Capstone: (6 credits thesis)

Elective courses - Minimum 4 courses (12 credits):

Students can choose courses based on their interests and goals. Electives will be offered on three tracks: Monetary and Macroeconomic Policy, Quantitative Finance and Applied Economics. Electives may include but are not limited to:

  • Financial Econometrics and Time Series
  • Labor Economics
  • Financial Economics
  • Health Economics
  • Limited Dependent Variable Analysis
  • Monetary Theory and Policy
  • International Economics
  • Business Economics
  • Development Economics
  • Finance
  • Public Finance
  • Mathematics

Students are also required to complete an environmental course. The MSE program seeks to advance each student’s career and academic goals. In addition to courses in economics students, in consultation with the program chair, may take other graduate-level courses offered at AUA. These electives should be approved by MSE program chair and the CBE Dean. The majority of classes start late afternoon and are offered on the AUA Yerevan campus. Some elective courses will be offered during the Summer semester in the Dilijan campus.

Duration of the Program

The MS in Economics is a 2 years program equivalent to 4-5 semesters of study including summer semester courses held in the Dilijan campus.

Schedule of Courses

Late Summer-Fall 1

  • Quantitative methods
  • Economic Statistics
  • Microeconomics
  • Sustainable Growth

Spring 1

  • Econometrics
  • Macroeconomics
  • Elective 1

Summer (Dilijan campus)

  • Elective 2
  • Elective 3

Fall 2

  • Economics Research Seminar
  • Elective 4

Spring 2

  • Capstone (thesis)

Courses are scheduled for evenings on weekdays and on Saturdays to accommodate the needs of employed students.


The faculty of the College of Business and Economics brings impressive education, teaching, and professional experience to the classrooms and students of AUA. Graduate degrees, MBA, and Ph.Ds, have been earned at outstanding international universities including Harvard, Stanford, the University of Nice, Purdue, University of Colorado, University of Turin, Oregon, Brandeis, Syracuse, Yerevan State, and others. Professional experience includes the CEO of a major bottled water company, founder of biotech firms in the U.S., investor and founding employee of an internet technology firm, founder and owner of an important accounting and finance training company, an international banker, creative director for a global advertising agency, and leadership at a variety of consulting firms some with an international reach.

Admission Requirements

AUA’s MS in Economics program seeks highly motivated students with good quantitative skills and excellent English to prepare for careers and advanced studies in economics and public policy. To be considered for admission, applicants must meet the below requirements:

  • Submit a completed AUA Application for Admission to Graduate Study and all required program supplements as outlined in the application instructions
  • Present an official TOEFL iBT score of at least 79* or IELTS (Academic) score of at least 6.5*; the score is valid only if the test date was less than two years before the application submission date
  • Present an official score in at least the 60thpercentile on the GRE quantitative section; the score is valid only if the test date was less than five years before the application submission date
  • Hold a bachelor’s degree from a 4- or 5-year program at an accredited or licensed institution of higher education
  • Submit an updated resume that includes your work history and job responsibilities;
  • Work experience is preferred but not required
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Last updated January 10, 2019
This course is Campus based
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Sep 2019
2 years
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