Master of Science in Economics - General Information - College of Business and Economics (CBE)  

Master of Science in Economics – General Information

Duration and Modality of the Program

MSE is a one-year program. The classes start in mid-June with The Preparatory Semester (that some students may be exempt) in Yerevan. In late-August students relocate to Dilijan for the rest of their studies. The Core Semester starts with students taking 4 required (15-week) classes: Microeconomic Theory, Macroeconomic Theory, Econometrics, and Economic Rhetoric. Starting mid-January four consecutive Specializing Mini-terms (5 weeks each) offer a large variety of courses that students can choose from. Finally, The Capstone Semester concludes the studies with a Thesis Viva in early August. 


Recently Offered Electives

  •         Finance Theory
  •         Financial Econometrics and Time Series Analysis
  •         Corporate Finance
  •         Asset Allocation and Multi­-asset Investing
  •         Monetary Theory and Policy
  •         Macroeconomic Policy Seminar
  •         Labor Economics
  •         International Trade
  •         Data Scraping
  •         Applied Econometrics
  •         Advanced Econometrics
  •       Professional Internship

Planned electives

  • Macroprudential Policy
  • Economics of Taxation
  • Development Economics
  • Behavioral Economics
  • Games and Decision Theory
  • Actuarial Mathematics
  • Econometrics for Business
  • Marketing Analytics
  • Machine Learning for Economists


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.



Preparatory Semester (some students may be exempt)

  • Quantitative Methods for Economics
  • Statistical Methods for Economist
  • Preparatory Microeconomics

Core Semester (all required 3 credit courses)

  • Microeconomic Theory
  • Macroeconomic Theory
  • Econometrics
  • Economic Rhetoric

Specializing Semester 

Fifteen semester credits from various 1- and 2-credit courses:

  • Finance Theory
  • Corporate Finance
  • Financial Econometrics
  • Actuarial Mathematics
  • Behavioral Economics
  • Games and Decision Theory
  • Development Economics
  • Sustainable Development (required course for all)
  • International Economics
  • Labor Economics
  • Economics of Taxation
  • Monetary Theory and Policy
  • Macroprudential Policy
  • Advanced Econometrics
  • Time Series Analysis
  • Forecasting
  • Econometrics for Business
  • Data Scraping
  • Marketing Analytics
  • Machine Learning for Economists

Capstone Semester

  • Supervised thesis writing



The faculty of the MSE program 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.


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 or GMAT 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 Open Education: You may get help preparing for TOEFL iBT and GRE tests.  AUA Open Education 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 at

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]