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 for 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 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, 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 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

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 regula