91��Ƶ

Graduates holding a Bachelor’s, Master’s, or Specialist Diploma from state higher education institutions of the Republic of Armenia, as well as from other non-state higher education institutions accredited in the relevant specialty or having undergone institutional accreditation, are eligible to apply for admission to 91��Ƶ Master’s programmes offered on a full-time or part-time basis.

91��Ƶ to 91��Ƶ Master’s programmes is conducted in accordance with the requirements set forth in the “91��Ƶ 91��Ƶ Regulations for Master’s Programmes (full-time and part-time modes of study)”.

Applications are submitted online through the website (details are available in the “Application Form Submission Procedure” section).

Written 91��Ƶ Examination

91��Ƶ Examination Syllabus

1. The subject and methods of economics. 

2. Economic systems. 

3. The market economic system: fundamental principles and components. 

4. Demand: the law of demand, demand curve, non-price determinants of demand, and demand elasticity. 

5. Supply: the law of supply, supply curve, and non-price determinants of supply. 

6. Market equilibrium: equilibrium price and quantity; price ceilings and price floors. 

7. Perfect and imperfect competition: the four main market structures. 

8. Characteristics of perfect competition and long-run profit maximization. 

9. Pure monopoly: characteristics, conditions for emergence and existence, and natural monopoly. 

10. Key characteristics of monopolistic competition; determination of output and price in the short and long run. 

11. Characteristics and main types of oligopoly. 

12. GDP and methods of its calculation. 

13. Other measures of national output; GDP and population well-being; IDI (Inclusive Development Index). 

14. Nominal and real GDP; price indices. 

15. Economic growth as an objective and sources of growth. 

16. The business cycle and its phases; the cycle across different sectors of the economy. 

17. Unemployment and its types; economic and social costs of unemployment. 

18. Inflation: quantitative measurement, causes, and types. 

19. The macroeconomic Y = C + Ig + G + Xn model. 

20. The macroeconomic AD–AS model. 

21. The IS–LM model of general equilibrium. 

22. The government budget: budget concepts. 

23. Discretionary and nondiscretionary fiscal policy. 

24. Fiscal policy: automatic stabilizers. 

25. Public debt and debt management: potential and actual risks. 

26. The nature and functions of money. 

27. The money market: disequilibrium and adjustment mechanisms. 

28. The banking system: the central bank and commercial banks. 

29. Monetary policy instruments; expansionary and contractionary monetary policies. 

30. Economic growth: indicators and determinants. 

References

1. McConnell, C. R., Brue, S. L., Economics: Principles, Problems, and Policies. Translated from the 17th English edition. Moscow: INFRA-M, 2009. XXVIII, 916 pp. 

2. Course in Economic Theory: Textbook for University Students. Edited by A. V. Sidorovich. Lomonosov Moscow State University, 3rd edition. Moscow, 2007. 1,040 pp. 

3. McConnell, C. R., Brue, S. L., Economics: Principles, Problems, and Policies. Translated from the 13th English edition. Moscow: INFRA-M, 1999. XXXIV, 974 pp. 

4. Nureev, R. M., Course in Microeconomics: University Textbook. Moscow, 2005. 576 pp.