CBE Dean and Program Chairs – College of Business and Economics (CBE)  

CBE Dean and Program Chairs

Dr. Vache Gabrielyan
Dean of Manoogian Simone College of Business and Economics
Dr. Vache GabrielyanDean of Manoogian Simone College of Business and Economics

Vache Gabrielyan specializes in public administration and economics. He studied at the Yerevan State University and received his Doctor of Philosophy in Public Administration from Rutgers University. He has served as Vice-Governor of the Central Bank of Armenia (2008-2010), Minister of Finance (2010-2012), Minister-Chief of Government Staff (2013-2014), Chief Advisor to the Prime Minister (May – November 2014), as well as the Deputy Prime Minister of Armenia, and the Minister of International Economic Integration and Reforms (2014-2018). Effective January, 2019 Dr. Vache Gabrielyan has been appointed as Dean of the Manoogian Simone College of Business and Economics (CBE). Dr. Vache Gabrielyan is the author of a number of scientific papers published in Armenia and abroad.

PhD, Rutgers University

Areas of research and teaching specialization
Public Administration, Public Policy, Research Methods

Courses currently taught
PSIA 340 Introduction to Public Administration

Selected Publications

Books and Symposia:

  • Red Tape from Red Square: Bureaucratic Commentary in Soviet Graphic Satirical Art, with Marc Holzer, Iryna Illiash and Lyudmila Kuznetsova, National Sector for Public Productivity, 2010.
  • “Bureaucracy on the Silver Screen: A World-Wide Perspective.” Co-editor: Marc Holzer, Public Voices, Vol. 4, No. 2 (2000).
  • “Post-Soviet Bureaucracy: Change and Continuity,” Co-editor: Marc Holzer, special issue of the International Journal of Public Administration, Vol. 22, No. 1, 1999.

Articles (Peer Reviewed Journals):

  • “Discourse in Comparative Policy Analysis: Privatization Policies in Britain, Russia and the United States,” Policy and Society, Vol. 25, No. 2, 2006, pp. 47-75.
  • “The Origins and Transformation of Policy Ideas: Case study: Education Law of Armenia’with Gayane Selimyan, NISPAcee Occassional Papers,Volume IV – No. 3 Summer 2003.
  • “Investing in Corporate Securities: Prospects in Armenia,” with Gnel Sahakyan, Information Technologies and Management, No. 2, 2002, pp. 212-225 (in Armenian).
  • “The Rise and Fall of Soviet Screen Bureaucrat,” Public Voices, 2000. Vol. 4, No. 2, Spring 2000, pp. 61-72.
  • “Post-Communist Bureaucracies: Organizational Modes of Transition,” International Journal of Public Administration, Vol. 22, No. 1, 1999, pp. 69-99.
  • “Public Administration in Ancient China: Practice and Theory,” Public Voices, Vol. 2, No. 1, Spring 1996, pp. 25-44.

Chapters and Book articles:

  • “Challenges of Economics and Armenian Economy,” in Yerevan State University Department of Economics Yearbook, Yerevan: YSU Publishing, 2013, pp. 5-11 (in Armenian).
  • “Introduction” and “Government Regulation of Banking,” in Asatryan, Bagrat (ed.) Banking, Second edition, Yerevan: Gir Publishers, 2013, pp. 16-22 and 443-458 (in Armenian).
  • Vache Gabrielyan and Gayane Selimyan, “Public Management Reforms: Armenia,” in Bouckaert Geert, Nemec Juraj, Nakrosis Vitalis, Hajnal Gyorgy, Tonnisson Kristiina (Eds.) Public Management Reforms in Central and Eastern Europe. NISPAcee Press, Bratislava, 2009, pp. 27-50.
  • “Qualitative Research Methods: An Overview,” with Kaifeng Yang and Susan Spice, in Gerald J. Miller and Kaifeng Yang (eds.). Handbook of Research Methods in Public Administration, New York: Second edition, New York: CRC Press, 2007, pp. 141-171.
  • “Five Great Ideas of American Public Administration,” with Marc Holzer, and Kaifeng Yang in Rabin, Jack, Hildreth, W. B. and Gerald J. Miller (eds.). Handbook of Public Administration, Third edition, New York: CRC Press, 2007, pp. 49-103.
  • “Comparative and International Administration,” with George M. Guess, in Rabin, Jack et al. (eds.), Handbook of Public Administration, Third edition, New York: CRC Press, 2007, pp. 565-605.
  • “Capital Account Liberalization Experiences in Armenia,” with Armine Khachatryan, in Bakker, Age F.P. and Bryan Chapple (eds). Capital Liberalization in Transition Countries: Lessons from the Past and for the Future. Cheltenham: Edward Elgar, 2003.
  • International Encyclopedia of Public Policy and Administration. Jay Shafritz, Editor-in-Chief.  Harper-Collins/Westview Press. 1998. Author/co-author of the following entries:“Outsourcing,” pp. 1590-1596.
    “Cost-Effectiveness Analysis,” pp. 563-566.
  • “Reforming Eastern European Bureaucracy: Does American Experience Apply?” with Frank Fischer, in Asmerom, Haile K. and Reis E. (eds.) Democratization and Bureaucratic Neutrality: Experience From Developed and Third World; London: MacMillan; New York: St. Martin’s Press, 1996, pp. 109-127.



(+374 60) 61 26 10

Office location
222W (PAB)

Office hours
By appointment

Aleksandr Grigoryan, Ph.D.
Associate Professor, MBA Program Chair
Aleksandr Grigoryan, Ph.D.Associate Professor, MBA Program Chair

Aleksandr Grigoryan has a PhD from University of Turin and a Master Diploma from the Institute for Advanced Studies in Vienna, both from the economics field. Starting in 2009, he has worked at the Research Department in the Central Bank of Armenia and has been teaching at the American University of Armenia (AUA), School of Political Science and International Affairs.  Since April 2012, he has been appointed as an Assistant Professor of Economics at the College of Business and Economics and the College of Humanities and Social Sciences at the American University of Armenia. In August 2014, Dr. Grigoryan has been appointed as a chair of the Master of Business Administration program, at the College of Business and Economics.

Aleksandr Grigoryan is very active in research and publishes in peer-reviewed journals regularly. He has publications in Journal of Income Distribution and Eastern European Economics, among others. His research covers topics from development economics such as income distribution, migration, transformation of industry structure etc. Dr. Grigoryan has solid research consultancy experience, working with international and Armenian research organizations.

Aleksandr Grigoryan is an Affiliate Fellow of CERGE-EI since 2013. He is a board member of the Armenian Economic Association (AEA) and served as the AEA president in 2015-2017.


  • Ph.D in Economics, University of Turin, Italy, 2005 – 2008
  • Institute for Advanced Studies (IHS) in Vienna, Austria, 2003 – 2005
  • Yerevan State University of Economics, Armenia, 1996 – 2004
    • Post graduate study, 2001 – 2004
    • Graduate study, 1996 – 2001, Diploma in Economics (with Hobor)


Courses taught:

BUS322 Managerial Economics
BUS320 Data Analysis for Business Decisions
BUS365 Marketing Research
BUS050 Quantitative methods
BUS328 Economic Policy for Development and Competitiveness
BUS396 Capstone
ECON229 Time series econometrics
BUS299 Capstone
PSIA350 Macroeconomics
PSIA351 Microeconomics



  • Armenia-Turkey border opening: what determines the attitude of Armenians? (with Knar Khachatryan and Vahram Ter-Matevosyan), Caucasus Survey, 6/3, 2018. https://doi.org/10.1080/23761199.2018.1499298
  • Performance and capital structure of microfinance institutions in Eastern Europe and Central Asia, with Knar Khachatryan (AUA) and Valentina Hartarska (Auburn University). Eastern European Economics, 2017, 55:5, 395-419, DOI: 10.1080/00128775.2017.1336064
  • A model with indivisible investments in different environments. Armenian Economic Journal, 2015, Volume 1 [http://aea.am/journal.html].
  • A model for anocracy, Journal of Income Distribution, Volume 23/1, 2013.
  • Remittances and emigration intentions: evidence from Armenia, with Knar Khachatryan (AUA). CERGE-EI WPS626, ISSN 1211-328, October 2018.
  • Positional concerns and Social capital: evidence from South Caucasus, with Armenak Antinyan (Tianjin University of Finance and Economics) and Vardan Baghdasaryan (AUA). CERGE-EI WPS625, ISSN 1211-3298, September 2018.
  • Multidimensional poverty in Armenia, with Pundarik Mukhopadhaya (Macquarie University). Forthcoming in ADB Economics WP Series, 2018.
  • Inclusive economic development in Armenia, with Vardan Baghdasaryan (AUA). Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. Forthcoming in ADB Economics WP Series.
  • Employment and labor market policies in Armenia, with Vardan Baghdasaryan (AUA). Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. Forthcoming in ADB Economics WP Series.
  • Armenia: Income Gaps. World Policy Journal, (2015) 32(1): 3-11 [short article].
  • Migration and power. EERC WP 15-03E, 2015.


  • The effects of the exchange rate on exports: the case of Armenia, with Gor Khachatryan (RA Ministry of Economic Development and Investments).
  • Interaction between income inequality and monetary policy: theory and evidence, with Hayk Sargsyan (Central Bank of Armenia).
  • Compulsory versus Voluntary Savings as Incentive Mechanism in Microlending Contracts: theory and evidence, with Knar Khachatryan (AUA), Oliver Bruno (SKEMA) and Roy Mersland (University of Agder).
  • Performance and Capital Structure of Microfinance Institutions: spatial patterns, with Knar Khachatryan and Valentina Hartarska (Auburn University).
  • Social expenditures and multidimensional poverty: evidence from the Armenian Household Survey Data, with Pundarik Mukhopadhaya (Macquarie University).
  • Seasonal versus permanent migration: common patterns in South Caucasus, with Sona Kalantaryan (European University Institute) and Armenak Antinyan (Tianjin University of Finance and Economics).
  • Testing monetary policy: Discretion versus Commitment, with Narek Ohanyan (University of Pompeu Fabra).

E-mail: aleksandr@aua.am

Phone: +37460 61 26 14

Office location: 205W (PAB)

Website: algrigoryan.weebly.com, ResearchGate

CV: Download

Vardan Baghdasaryan, Ph.D.
Assistant Professor, MSM Program Chair
Vardan Baghdasaryan, Ph.D.Assistant Professor, MSM Program Chair

Vardan Baghdasaryan is Assistant Professor and a Program Chair for MSM. He has been teaching various economic-related courses to BAB, MBA and MSM cohorts since 2014. Dr. Baghdasaryan has been a Senior Consultant at the AVAG Solutions, Ltd, providing consulting to various international donor agencies.  For detailed information, please refer to www.vardanbaghdasaryan.com


  • Graduate School in the Economics and Finance of Public Administration (DEFAP) Catholic University of Milan, Italy, 2009 – 2014
  • PhD in Economics (Aspirantura) Russian-Armenian (Slavonic) University, Yerevan, Armenia, 2004 – 2007
  • Diploma of Manager-Economist (with honorary distinction), Yerevan State Institute of Economy, Department of Management Yerevan, Armenia, 1999 – 2004
  • ACCA affiliate (all exams passed)  Association of Chartered Certified Accountants (ACCA), UK, 2004-2010

Courses Taught: ECON 221 – Intermediate Microeconomics

Research Activities:

1. Baghdasarayan V., Iannantuoni G. and Maggian V., “Electoral Fraud and Voter Turnout: Experimental Study”
Working paper available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2696203

2. Baghdasaryan V., Manzoni E., “Set them (almost) free. Discretion in Electoral Campaigns”
Working paper available at: https://papers.ssrn.com/sol3/papers2.cfm?abstract_id=2885145

3.  Khachatryan K.,  Baghdasaryan V., Hartarska V., “Role of Deposits in MFI performance in Central Asia and Eastern Europe”


Antinyan A., Baghdasaryan V., Grigoryan A., “Relative position and social capital in South Caucasus“



Phone: +374 60 61 25 67

Office location: 207W (PAB)

Office hours: Tuesday 13:30-15:00, or by appointment via email

CV: Download

Knar Khachatryan, Ph.D.
Associate Professor, BAB Program Chair
Knar Khachatryan, Ph.D.Associate Professor, BAB Program Chair

Knar Khachatryan joined the CBE in 2013 as an Assistant Professor. She holds a PhD in Management from SKEMA Business School, France, and a double degree of French Doctorate from University of Nice, France.

Prior to joining the AUA, she was a visiting faculty at the French University in Armenia (UFAR). Also she worked at SKEMA Business School as teaching assistant lecturing both in English and French, and administering business simulations. Her scholarly activity focuses on microfinance, financial inclusion, poverty and development studies.
Her recent publications have appeared in Review of Development Economics, Journal of Eastern European Economics, Caucasus Survey, Strategic Change. She has a number of on-going research projects focusing on multidimensional poverty, financial inclusion and regional development.

She is an associate researcher at the Centre for European Research in Microfinance(CERMi), Belgium.
In 2016 and 2018, her articles were nominated among the three finalists for European Microfinance Network (EMN) Research Award. In 2015 her PhD thesis was nominated as the best research on sustainable finance and was awarded SAB Trophy.
Dr. Khachatryan was a Visiting Research Fellow at the Auburn University, Alabama; and Center European Research on Microfinance (CERMi), Belgium.
She has successfully initiated and completed a number of international and local research grant projects such as the Atlas South Caucasus Research Fellowship (FMSH, France), University of Southern California Institute of Armenian Studies (US), ISTC Research Grant (Armenia).
Currently, she is the PI for a two-year EURASIA program which is funded by Norwegian Agency for International Cooperation and Quality Enhancement in Higher Education. The project focuses on Financial Inclusion and is in partnership with University of Adger, Norway.

Higher education

  • Doctorate from University of Nice, France
  • PhD. in Management from SKEMA Business School.
  • MSc in International Business and MSc in Research both from SKEMA Business School
  • BA in Management from French University in Armenia



Khachatryan, K., Baghdasaryan, V., Hartarska, V. (2019), Is the model “loans-plus-savings” better for microfinance in Eastern Europe and Central Asia? A PSM comparison, Review of Development Economicsforthcoming.https://doi.org/10.1111/rode.12589.

Grigoryan, A., Khachatryan, K., Ter-Matevosyan, V. (2019), Armenia-Turkey border opening: What determines the attitude of Armenians, Caucasus Survey 7(1)25-43. https://doi.org/10.1080/23761199.2018.1499298.

Grigoryan, A., Khachatryan, K. (2018), Remittances and emigration intentions: evidence from Armenia, CERGE-EI WP series 626, ISSN 1211-3298. (currently under review at Journal of Development Studies)

Khachatryan, K., Avetisyan E. (2017), Microfinance Development in Armenia: Sectoral Characteristics and Problems, Strategic Change 26(6), 587–595. DOI: 10.1002/jsc.2169.

Khachatryan, K., Hartarska, V., Grigoryan, A. (2017), Performance and Capital Structure of Microfinance Institutions in Eastern Europe and Central Asia, Journal of Eastern European Economics, 55(5), 395-419.

E-mail: kkhachatryan@aua.am
Phone: +37460 61 25 68
Office location: 208W (PAB)

Vahram Ghushchian, Ph.D.
Associate Professor, MSE Program Chair
Vahram Ghushchian, Ph.D.Associate Professor, MSE Program Chair

Dr. Ghushchian teaches several courses in Statistics, Econometrics, and Economics at American University of Armenia (AUA). He received a doctoral degree from the University of Colorado Boulder in 2006. Prior to joining AUA Dr. Ghushchian was an Assistant Research Professor at the University of Colorado. Dr. Ghushchian is an active citizen; in Colorado, he was the Chief Economist for the State of Colorado drug utilization review program. In Armenia, he was a founding chair of an independent FDA audited ethics committee. Currently, Dr. Ghushchyan is the President or ISPOR Armenia Regional Chapter. Dr. Ghushchian has published several articles on Health Economics and Outcomes in peer-reviewed journals. In the past 10 years, his work has been cited more than 3000 times. His research is mainly in health economics and outcomes with an emphasis on issues related to health utility and other patient-reported outcomes, health technology assessment, and health-related workplace productivity. The major goal of Dr. Ghushchian’s research is to improve society’s health and well-being.


PhD in Economics, University of Colorado Boulder, 2006

Courses taught:  

  • BUS 331 Data, Analysis and Decisions
  • ECON 310 Economic Statistics
  • ECON 315 Financial Econometrics and Time Series Analysis
  • ECON 316 Topics in Applied Health Econometrics
  • ECON 320 Macroeconomic Theory
  • ECON 340 International Trade
  • ECON 380 Professional Internship
  • ECON 385 Economic Research Seminar
  • ECON 386 Capstone

Recent Publications:

  • Health Disparities Among Children with Asthma in the United States by Place of Residence. Sullivan PW, Ghushchyan V, Kavati A, Navaratnam P, Friedman HS, Ortiz B. J Allergy Clin Immunol Pract. 2019 Jan;7(1):148-155.
  • Estimating asthma control questionnaire (ACQ) scores from claims data. Sullivan PW, Ghushchyan VH, Globe G. J Asthma. 2018 Sep;55(9):1002-1010.
  • The national burden of poorly controlled asthma, school absence and parental work loss among school-aged children in the United States. Sullivan PW, Ghushchyan V, Navaratnam P, Friedman HS, Kavati A, Ortiz B, Lanier B. J Asthma. 2018 Jun;55(6):659-667.
  • School absence and productivity outcomes associated with childhood asthma in the USA. Sullivan P, Ghushchyan VG, Navaratnam P, Friedman HS, Kavati A, Ortiz B, Lanier B. J Asthma. 2018 Feb;55(2):161-168.
  • Oral corticosteroid exposure and adverse effects in asthmatic patients. Sullivan PW, Ghushchyan VH, Globe G, Schatz M. J Allergy Clin Immunol. 2018 Jan;141(1):110-116.
  • National Prevalence of Poor Asthma Control and Associated Outcomes Among School-Aged Children in the United States. Sullivan PW, Ghushchyan V, Navaratnam P, Friedman HS, Kavati A, Ortiz B, Lanier B. J Allergy Clin Immunol Pract. 2018 Mar – Apr;6(2):536-544.

E-mail: vghushchyan@aua.am

Phone: +37460 61 26 11

Office location: 209W (PAB)

Office hours: By appointment