DILIJAN, Armenia — The American University of Armenia (AUA) and the Central Bank of Armenia (CBA) held their third annual joint workshop on October 11 at the CBA Research and Training Centre in Dilijan, which also houses AUA’s Master of Science in Economics (MSE) program. Titled “Policy-Informing Research in Armenia,” the workshop focused on research aimed at shaping policy and welcomed participants from the National Assembly, Office of the Prime Minister, Ministries of Economy and Finance, and State Revenue Agency, in addition to representatives from AUA and CBA.
This year’s workshop built on a strong history of collaboration between CBA and AUA. The first two workshops were dedicated to individuals closely associated with both institutions: Hakob Hakobyan, an MSE student and CBA researcher who was martyred during the Second Artsakh War, and the late Ashot Mkrtchyan, a former CBA board member and long-time supporter of AUA. These previous workshops highlighted the personal and professional connections between CBA and AUA, laying the groundwork for deeper institutional collaboration.
Reflecting on this evolution, MSE Program Chair Dr. Gurgen Aslanyan shared: “The previous two joint workshops discussed the potential benefits of deeper collaboration between AUA and CBA. This year’s event revealed the enormous potential for cooperation not only between AUA and CBA, but also across all government agencies and academia.”
The workshop opened with welcoming remarks by CBA Governor Dr. Martin Galstyan and Dr. Vache Gabrielyan, dean of AUA’s College of Business and Economics. Dr. Galstyan stressed the importance of building strong connections between scientific research and state institutions, noting that Armenia’s evolving economic challenges require joint efforts from both academic and governmental spheres.
The workshop featured a series of presentations on policy-relevant research from AUA, the Ministry of Economy, the Ministry of Finance, and CBA, reflecting the growing integration of research with governmental policymaking.
- AUA Assistant Professor Dr. Narek Ohanyan presented the “AUA Macroeconomic Report,” showcasing a model designed to improve economic forecasting in Armenia.
- AUA Assistant Professor Dr. Sevag Agop presented his work on “Tax Expenditures Optimization,” focusing on enhancing fiscal efficiency.
- Araksia Milek (BAB ’20) from the Ministry of Economy introduced the Economic Sophistication Index, which evaluates the complexity and competitiveness of Armenia’s economy.
- Dr. Garik Petrosyan, head of the Macroeconomic Policy Department at the Ministry of Finance, presented on the “Usage of the Ararat Model for Fiscal Policy,” highlighting the application of advanced models to guide fiscal planning in Armenia.
- Anahit Gasparyan (MSE ’25), a CBA researcher, presented her research on the “Welfare Effects of Bank Mergers in Armenia,” analyzing the impact of financial sector consolidation on public welfare.
The workshop concluded with a roundtable discussion on the role of policy-informing research in Armenia, moderated by Dr. Gabrielyan. Participants explored the importance of strengthening the bridge between research and policy to tackle Armenia’s economic challenges more effectively.
Dr. Albert Hayrapetyan (MPSIA ’16), head of the Economic Research Department at the Ministry of Economy, reflected on the success of the event: “The workshop was highly informative and provided an effective platform for knowledge exchange between institutions. Exploring the research agendas of participating government agencies opened up new avenues for collaboration and future joint initiatives.”
At the end of the workshop, participants reached a consensus on the need to deepen cooperation between academic and governmental institutions. They agreed to develop joint research projects and continue regular collaboration through periodic meetings, with the goal of addressing Armenia’s evolving economic needs through collective efforts.
This third annual workshop reaffirmed the growing collaboration between AUA and CBA and the broader role of academia in informing evidence-based policy decisions. Both institutions remain committed to fostering deeper ties, ensuring that research informs the development of effective, forward-thinking economic policies in Armenia.
Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate and graduate degree and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.
