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

The Chair of Finance called “Finance and Credit” was originally formed in the late 1950s. as part of the Faculty of Economics of the Yerevan State University. After the establishment of the Yerevan Institute of National Economy, the Chair of Finance and Credit began to carry out its activities here, over the years, reorganizing into various financial Chairs. The ASUE Chair of Finance was formed in October 2012 as a result of the merger of the Public Finance Chair and the Corporate Finance Chair. Since the creation of the Chair, work has been carried out to form the teaching staff of the highest qualifications, to ensure an appropriate scientific and pedagogical level, to introduce educational and specialized programs, to increase the level of efficiency of the educational process and research activities.


  • 1950-1961 - Levon Shakaryan, Doctor of Sciences, Professor
  • 1961-1975 - Varazdat Khlgatyan, Doctor of Sciences, Professor,
  • 1975-1993 - Karlen Abgaryan, Ph.D in Economics, Professor
  • 2001-2011 - Lukashen Badanyan, Ph.D in Economics, Professor
  • 2011-2013 - Levon Barkhudaryan, Ph.D in Economics, Acting Associate Professor.

Mission, purpose and objectives of the Chair

The mission of the Chair is to train professional specialists on the basis of cooperation between education and the labor market, student-oriented learning, transfer of applied knowledge, centralization of professional potential, creation of an innovative learning environment.

The main goal of the Chair is to train highly qualified specialists with modern deep knowledge and practical skills that can meet the requirements and criteria for specialists both on the national and international labor market.

The Chair sets itself the task of creating a culture of financial thinking, developing skills in the study of theories, using the acquired knowledge in practice, the ability to teach in native and foreign languages, think critically and creatively, analyze and solve problems, effectively communicate ideas.


The Chair cooperates with the RA Ministry of Finance, RA State Revenue Committee, NASDAQ OMX Armenia Stock Exchange, ARMAVISBANK CJSC, and Armenbrok investment company.

The Chair of Finance carries out activities in two main areas - educational and research.

Educational sphere

In 2016, the Chair developed and implemented a professional educational program "Finance". The Chair provides educational services in this area of training in the framework of full-time and part-time education. In addition to the Bachelor's degree, the Chair also provides full-time and part-time Master's studies.

Full-time Master's Degree

  • Public finance
  • Corporate finance adopted by RIFINE

Part-time Master’s degree

Public finance

The main courses taught within the frames of educational programs

  • Financial markets and institutions,
  • Public finance,
  • Corporate finance,
  • Tax system,
  • Organization and financing of investments,
  • Financial derivatives and financial risk management,
  • Stocks and bods market,
  • The basics of customs.

Elective courses in Bachelor’s degree

  • Financial management in the public sector,
  • Taxation of organizations
  • Program budgeting in public sector finance,
  • Corporate financial management,
  • Analysis of the securities market and asset valuation,
  • Customs administration,
  • International customs cooperation,
  • Financial institutions in the securities market,
  • International securities markets.

The program also includes other courses, which, in fact, complement the knowledge required for the financial sector of the RA economy.

Within the frames of Master's programs, the following basic courses are taught:

  • Research methodology,
  • Actual problems of financial management in the public finance system,
  • Actual problems of tax and customs administration in the RA,
  • Actual Problems of Fiscal Policy in the RA,
  • Actual financial problems of financial institutions in the RA,
  • Financial recovery mechanisms in organizations,
  • Actual problems of program budgeting in the public finance sector,
  • Actual problems of investment portfolio management,
  • Financial derivatives markets,
  • Tariff and non-tariff customs regulation,
  • The theory of financial crises, etc.

Research sphere

The Chair carries out research activities in the following areas:

  • Directions for improving public and corporate finance management in RA
  • Directions for improving financial markets and services in RA
  • Actual problems of the development of the RA customs system within the framework of EAEU membership

More than two dozen scientific papers are published annually by the members of the Chair. A complete list of publications of the Chair is presneted in the Armenian version.

Staff of the Chair

  1. Barkhudaryan Levon Vladimiri – Head of the Chair, PhD in Economics, Associate Professor
  2. Matevosyan Ashot Varazdati – Doctor of Economics, Professor
  3. Sukiasyan Sergey Spartaki – Doctor of Economics, Associate Professor
  4. Baghdasaryan Vahan Gevushi – PhD in Economics, Associate Professor
  5. Poghosyan Suren Hovhannesi - PhD in Economics, Associate Professor
  6. Mikayelyan Karine Armeni - PhD in Economics, Associate Professor
  7. Stchanyan Armine Vagharshaki - PhD in Economics, Associate Professor
  8. Mikayelyan Vahe Karmeni - PhD in Economics, Associate Professor
  9. Nersisyan Armine Volodyayi - PhD in Economics, Associate Professor
  10. Aghabekyan Edgar Vahagni - PhD in Economics, Associate Professor
  11. Grigoryan Hovik Hrachiki - PhD in Economics, Associate Professor
  12. Aslanyan Mkhitar Stepani – PhD in Economics, Senior Lecturer
  13. Muradyan Hrayr Maksimi – PhD in Economics, Lecturer
  14. Vardanyan Anna Arami - PhD in Economics, Lecturer
  15. Sughyan Nargiz Roberti - PhD in Economics, Lecturer
  16. Hovakanyan Lilit Yurii - PhD in Economics, Lecturer
  17. Yeranosyan Vanine Ashoti - PhD in Economics, Associate Professor
  18. Khachatryan Mare Vahani - PhD in Economics, Associate Professor
  19. Israyelyan Srbuhi Garniki- PhD in Economics, Lecturer
  20. Balasanyan Narine Hayki - Lecturer
  21. Matevosyan Mane Henriki - Lecturer
  22. Melikyan Marine Vahani – PhD in Economics, Assistant
  23. Chatinyan Gor Gagiki - PhD in Economics, Associate Professor
  24. Mikayelyan Sevak Sarmeni - PhD in Economics, Lecturer
  25. Gevorgyan Vachik Meliki - PhD in Economics, Lecturer
  26. Nersisyan Karine Hovhannesi - PhD in Economics, Lecturer
  27. Arakelyan Gurgen Armeni - PhD in Economics, Lecturer
  28. Papazyan Ogsen Rafiki - PhD in Economics, Lecturer
  29. Manukyan Grigor Tatuli - PhD in Economics, Associate Professor
  30. Grigoryan Hasmik Vladimiri – Senior Lab Assistant
  31. Budaghyan Roza Ararati - Lab Assistant

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