Head of the Chair - Levon BARKHUDARYAN, PhD in Economics, Associate Professor

History, operations

The Chair of Finance was established in the late 1950s under the name "Finance and Credit" in YSU Faculty of Economics. In 1975, after the establishment of Yerevan Institute of National Economy, the Chair moves and continues its operations, followed by its reorganization into separate chairs of finance. ASUE Chair of Finance was established in October, 2012 by merging the Chairs of Public Finance and Corporate Finance.

Since the establishment of the Chair, it consistently attracts highly qualified academic staff, maintains the appropriate scientific and pedagogical level, introduces study and professional programs, increases the efficiency of the education process, and develops research activities.

The Chair of Finance operates in two main spheres: educational and research. The primary goal of the Chair is to prepare high-level specialists having modern, in-depth and thorough knowledge and practical skills, who will further meet the requirements and standards of national and international labor markets.

The Chair aims at shaping some culture of financial mindset, transferring skills, abilities and capabilities of learning theories, applying them later in practice, teaching native and foreign languages, developing critical thinking, creative thinking, analytical and problem-solving skills and abilities, and communicating ideas freely and effectively.

The chair cooperates with the RA Ministry of Finance, RA State Revenue Committee, AMX Stock Exchange, Armswissbank, ArmBusinessBank, Ardshinbank, and "Armenbrok" Investment Company.

Heads of the Chair

The Chair of Finance was headed by:

  • Doctor of Economics, Professor L. Shakaryan (1950-1961)
  • Doctor of Economics, Professor V. Khlghatyan (1961-1975)
  • PhD in Economics, Professor K. Abgaryan (1975-1993)
  • Ph.D. in Economics, Professor L. Badanyan (2001-2011)
  • Ph.D. in Economics, acting Associate Professor L. Barkhudaryan (2011-2013)
  • Doctor of Economics, Professor A. Salnazaryan (2013-2020)
  • From 2021 onwards, PhD in Economics, Associate Professor Levon Barkhudaryan

Educational programs

"Finance" specialized bachelor’s degree program was developed and implemented by the chair in 2016. The chair provides services in the above-mentioned specialty in full-time and part-time formats. The Chair also provides full-time and part-time master's degree program. In 2022, the Bachelor's and Master's programs taught in the chair were completely redesigned and reformed with the direct participation of the CBA and ASUE expert group.

Full-time master’s degree program

  • Public finance
  • Corporate finance
  • Stock market analysis and management

Part-time master’s degree program

  • Public Finance

Subjects taught

Core courses of study taught at the bachelor’s degree program are:

  • Fundamentals of financial markets and investments
  • Public finance
  • Introduction to Corporate Finance
  • Taxes
  • Investment management
  • Financial derivatives
  • Securities market participants and investment services
  • Corporate finance
  • Management of the organization's finance, etc.

Elective courses taught at the bachelors’ degree program

  • Tax administration
  • Corporate Management
  • Program budgeting
  • Financial planning in commercial organizations
  • Technical analysis of the stock market
  • Municipal budget
  • State procurement systems
  • Securitization

The program includes many other subjects as well, which make the knowledge comprehensive and necessary for the financial sector of the RA economy.

The following core subjects are taught at master's degree programs:

Public finance

  • State revenue analysis and forecasting
  • Mechanism of public procurement in public finance
  • Priority directions of public finance development
  • Budget processes
  • Priority directions of program budgeting development
  • Theory of financial crises
  • Financial stability in the state financial system
  • Financial management issues in the state finance system
  • State debt regulation strategy in RA, etc.

Corporate finance

  • Mergers and acquisitions in corporations
  • Computer programs in financial planning
  • Financial risk management in corporations
  • Investment portfolio management
  • International taxation of corporations
  • Behavioral finance
  • Ranking of corporations
  • Financial Econometrics and Forecasting, etc.

Stock market analysis and management

  • Financial infrastructure and services
  • Risk analysis and management
  • Fixed income instruments
  • Investment evaluation
  • Financial derivatives
  • Regulation of financial markets
  • Securitization and financial engineering
  • Investment package management
  • Mergers and acquisitions, etc.

Scientific research activities

The chair carries out scientific research activities within the frames of the topic "Modern issues of the development of the financial system", the results of which have been reflected in the published materials.

Staff of the Chair

  1. Barkhudaryan Levon Vladimir – Head of the Chair, PhD in Economics, Associate Professor
  2. Matevosyan Ashot Varazdat – Doctor of Economics, Professor
  3. Sukiasyan Sergey Spartak – Doctor of Economics, Professor
  4. Baghdasaryan Vahan Gevush – PhD in Economics, Associate Professor
  5. Poghosyan Suren Hovhannes - PhD in Economics, Associate Professor
  6. Mikayelyan Karine Armen - PhD in Economics, Associate Professor
  7. Stchanyan Armine Vagharshak - PhD in Economics, Associate Professor
  8. Mikayelyan Vahe Karmen - PhD in Economics, Associate Professor
  9. Nersisyan Armine Volodya - PhD in Economics, Associate Professor
  10. Aghabekyan Edgar Vahagn - PhD in Economics, Associate Professor
  11. Grigoryan Hovik Hrachik - PhD in Economics, Associate Professor
  12. Aslanyan Mkhitar Stepan – PhD in Economics, Associate Professor
  13. Muradyan Hrayr Maksim – PhD in Economics, Associate Professor
  14. Vardanyan Anna Aram - PhD in Economics, Lecturer
  15. Sughyan Nargiz Robert - PhD in Economics, Lecturer
  16. Hovakanyan Lilit Yuri - PhD in Economics, Lecturer
  17. Yeranosyan Vanine Ashot - PhD in Economics, Associate Professor
  18. Khachatryan Mare Vahan - PhD in Economics, Associate Professor
  19. Israyelyan Srbuhi Garnik - PhD in Economics, Lecturer
  20. Balasanyan Narine Hayk - Lecturer
  21. Matevosyan Mane Henrik – PhD in Economics, Lecturer
  22. Melikyan Marine Vahan – PhD in Economics, Assistant
  23. Chatinyan Gor Gagik - PhD in Economics, Associate Professor
  24. Mikayelyan Sevak Sarmen - PhD in Economics, Lecturer
  25. Gevorgyan Vachik Melik - PhD in Economics, Lecturer
  26. Nersisyan Karine Hovhannes - PhD in Economics, Lecturer
  27. Arakelyan Gurgen Armen - PhD in Economics, Lecturer
  28. Papazyan Ogsen Rafik - PhD in Economics, Lecturer
  29. Manukyan Grigor Tatul - PhD in Economics, Associate Professor
  30. Hayrapetyan Gor Surik - PhD in Economics, Lecturer
  31. Karapetyan Narek Nairi - PhD in Economics, Lecturer
  32. Grigoryan Erik Mayis - PhD in Economics, Lecturer
  33. Avetisyan Susan Abkar - PhD in Economics, Associate Professor
  34. Gabrielyan Gayane Gabriel - PhD in Economics, Lecturer
  35. Melik-Parsadanyan Vahagn Ashot - PhD in Economics, Lecturer
  36. Davtyan Tigran Mher - PhD in Economics, Lecturer
  37. Baboyan Armine Suren - PhD in Economics, Lecturer
  38. Grigoryan Ani Zohrab – Assistant
  39. Stepanyan Jora Vachagan - Assistant
  40. Grigoryan Hasmik Vladimiri – Senior Lab Assistant
  41. Budaghyan Roza Ararati - Lab Assistant
  42. Gasparyan Karine Argam – Lab Assistant

Address: Chair of Finance, ASUE, Nalbandyan str. 128, 0025, Yerevan, Armenia
(+37410) 593-469