Master of Science in Economics – General Information

A two-year program beginning Late August. The first year classes are being offered in Dilijan campus with a remote, real-time access from Yerevan, AUA. Subsidized housing is provided for students in Dilijan campus.

Degree Requirements

The MS in Economics requires successful completion of a minimum of 36 semester-credits. These are divided into core courses (7 courses – 24 credits) and electives (4 courses – 12 credits). Students can choose courses based on their interests and goals. Electives are offered for three tracks: Monetary and Macroeconomic Policy, Finance and Applied Economics.

Core courses – 7 required courses for all MSE tracks
Quantitative methods for Economists*
Economic Statistics
Microeconomic Theory
Macroeconomic Theory
Economics Research Seminar
Capstone: (6 credits)
Elective courses – tracks**
Monetary and Macroeconomic Policy*** Finance*** Applied Economics***
Financial Econometrics and Time Series Analysis Financial Econometrics and Time Series Analysis Financial Econometrics and Time Series Analysis
Monetary Theory and Policy Finance Theory Applied Health Econometrics
Macroeconomic Policy Seminar Economics of Corporate Finance Data Scraping
Free elective Free elective Free elective
* This course will start 1 week earlier than rest of the classes
** Minimum 3 track-specific courses are required  
*** Courses listed for track requirements may change  

Other electives may include but are not limited to:

Labor Economics

  • Financial Economics
  • Health Economics
  • Limited Dependent Variable Analysis
  • International Economics
  • Business Economics
  • Development Economics
  • Public Finance
  • Industrial Organizations

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 the MSE program chair and the CBE Dean.

Up to 50% of the course load will be offered in Dilijan campus. These will mostly include the 1st year required courses. The majority of elective courses will be offered during the second year in Yerevan campus. Some elective courses will be offered during the Summer semester.


Duration of the Program

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

Schedule of Courses

Fall 1 (Dilijan campus, real-time access from Yerevan)

  • Quantitative Methods for Economists
  • Economic Statistics
  • Microeconomic Theory

Spring 1 (Dilijan campus, real-time access from Yerevan)

  • Econometrics
  • Macroeconomic Theory
  • Elective 1

Summer (Yerevan or Dilijan campus)

  • Elective 2
  • Elective 3

Fall 2 (Yerevan campus)

  • Economics Research Seminar
  • Sustainable Development
  • Elective 4

Spring 2 (Yerevan campus)

  • Capstone (thesis)

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


The faculty of the College of Business and Economics bring impressive education, teaching, and professional experience to the classrooms and students of AUA. Graduate degrees, MBA and PhDs, have been earned at outstanding international universities including Harvard, Stanford, the University of Nice, 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 bio-tech 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

* If you are admitted to AUA with any of your official test scores below the minimum targets for the degree program to which you are applying, your status will be admission on probation. This means that you must attain a minimum GPA of 3.0 at the end of your first term or you will be subject to dismissal from the university.   Because English language proficiency is an important factor in successful study at AUA, applicants with TOEFL scores below 79 or IELTS scores below 6.5 are strongly advised to improve their English before commencing studies. This can be done either through AUA’s English for Enhancement Purposes course (EEP) or through another method of your choice.   These courses are not required, but are strongly recommended. For more information on EEP, please email [email protected].

AUA Extension program: You may get help preparing for TOEFL iBT and GRE tests.  AUA extension program offers preparatory courses for both TOEFL iBT and GRE tests. These courses aim at familiarizing you with the test format and test-taking strategies and training you to improve your test scores. For addition details visits

Admissions Calendar: Throughout the year, the Office of Admissions will offer informational lectures, Open Houses, and application help dates. Please refer to for more information on these events. Applicants are highly encouraged to submit applications as soon as possible and well before the published deadline dates. Applicants who submit complete applications earlier will typically be notified of their admissions status earlier. Male applicants who request military deferment in their application form must submit a complete application by the regular admissions deadline date.

Selection: AUA practices holistic admissions. Each application is initially screened for technical eligibility. The admissions committee then conducts a thorough review of each eligible application. Part of this process may include an interview. As admissions to AUA is competitive, the committee considers both academic and personal information including academic history, professional experience, graduate admissions test scores, the statement of purpose, recommendation letters, and the interview, if applicable. Decisions made by the admissions committee are final and cannot be appealed.

Tuition: Current tuition information is available at The tuition covers up to 36 credits.

Financial Aid: AUA’s financial aid programs include tuition assistance and scholarships. Applicants applying for tuition assistance should submit their tuition assistance application form shortly after submitting their application for admissions. International applicants can apply for scholarships that may cover up to 50% of tuition. More information, including financial aid deadline dates, is available here.

Our Partners

The program is partnering with the Central Bank of Armenia. We are proud to offer courses in the Central Bank’s Training and Research Center in Dilijan. Currently several full time employees from the Central Bank of Armenia are teaching in the MSE program.

To learn more about the MS in Economics program, contact:

Phone      + 374 60 61 26 20

Fax:      + 374 60 61 25 12

Email:     [email protected]


For additional information, contact:

AUA Office of Admissions

Phone:      + 374 60 69 40 40

Email:       [email protected]

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