Dr. Hayk Kamalyan Appointed Chair of AUA’s New Bachelor of Science in Economics Program

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YEREVAN, Armenia — The American University of Armenia (AUA) Manoogian Simone College of Business and Economics (CBE) is pleased to announce the appointment of Dr. Hayk Kamalyan as the inaugural program chair of the University’s new Bachelor of Science in Economics (BSE) program, set to launch in Fall 2025. Accredited by WASC and licensed by the Ministry of Education, Science, Culture, and Sports of Armenia, the Program builds on the College’s expertise in business and economics, equipping students with a strong foundation in theory, analysis, and critical thinking for careers in both the public and private sectors.

Dr. Kamalyan received his doctorate in economics from Goethe University Frankfurt. Prior to that, he worked as an economist at the Central Bank of Armenia. He joined AUA as a full-time faculty member in 2020 and currently serves as an assistant professor at CBE. Dr. Kamalyan’s research interests are in macroeconomics, with a focus on monetary economics and international macroeconomics. His ongoing research projects include studying the effects of macroeconomic uncertainty in emerging economies and possible asymmetries in how macroeconomic shocks affect the business cycle.

We asked Dr. Kamalyan to share his vision for the BSE program and how it will prepare students for success in a rapidly evolving academic and professional landscape. In our conversation, he highlighted what makes the program distinctive, the expected learning outcomes, the balance between theory and practice, the faculty’s role, and potential career paths for graduates.

What distinguishes AUA’s BSE program from other economics undergraduate programs in Armenia and the region?

The BSE program is designed to provide a strong foundation in economic theory, quantitative analysis, and real-world applications. In addition, BSE faculty members hold doctorates from reputable Western universities, ensuring a high standard of education and research excellence. This unique combination of a rigorous curriculum and distinguished faculty makes the BSE program competitive both locally and internationally.

What are the key learning outcomes that students can expect upon completing the BSE program?

Upon completing the Program, students are expected to apply core economic theory to real-world situations. They will be able to collect and analyze economic data, identify problems, and develop well-reasoned solutions related to economic issues and public policy.

How does the Program balance theoretical economic principles with practical application?

The Program begins with foundational courses that provide a deep understanding of core economic principles. As students progress, they will engage with specialized subjects and electives — including econometrics and advanced machine learning — that will allow them to apply their knowledge in real-world contexts. This structure ensures a strong balance between theoretical understanding and practical application, preparing students for careers in both academia and industry.

Can you share more about the faculty’s expertise and their role in shaping the Program?

Faculty research interests span a range of fields, including labor economics, finance, international economics, macroeconomics, and public policy. They are actively involved in research and committed to delivering high-quality learning experiences. Faculty also mentor students on research projects and help connect them with professionals in the field through valuable networking opportunities.Our faculty have extensive experience, having actively taught in both the M.S. in Economics and the B.A. in Business program, which had a very strong economics track.

What types of career paths will BSE graduates be well-prepared for?

Graduates will be prepared for a wide range of careers in both the public and private sectors, especially in roles that require strong analytical and social-science skills. These positions go beyond the scope of standard business programs, offering opportunities in policy analysis, economic research, consulting, and more.

How does the BSE program aim to contribute to Armenia’s economic development?

The Program will contribute to Armenia’s development by delivering high-quality education and preparing experts capable of addressing complex economic challenges. As the economy evolves, there is increasing demand for professionals who can analyze market trends, formulate evidence-based solutions, and support sustainable growth. The BSE program aims to produce graduates who are equipped to meet these needs both locally and globally.

As the program chair, what do you believe is your role in shaping the direction and success of the BSE program, and what key priorities do you have for its development in the coming years?

As program chair, my goal is to ensure smooth operations and establish a strong foundation for the Program’s growth. I work closely with faculty to keep the curriculum up to date with emerging trends and labor market demands. Additionally, I am committed to fostering an inclusive learning environment where all students feel valued and diverse perspectives are represented and integrated into the learning experience.

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.