Aleksandr Grigoryan, Ph.D.

Associate Professor, MBA Program Chair

Aleksandr Grigoryan has a PhD from University of Turin and a Master Diploma from the Institute for Advanced Studies in Vienna, both from the economics field. Starting in 2009, he has worked at the Research Department in the Central Bank of Armenia and has been teaching at the American University of Armenia (AUA), School of Political Science and International Affairs.  Since April 2012, he has been appointed as an Assistant Professor of Economics at the College of Business and Economics and the College of Humanities and Social Sciences at the American University of Armenia. In August 2014, Dr. Grigoryan has been appointed as a chair of the Master of Business Administration program, at the College of Business and Economics.

Aleksandr Grigoryan is very active in research and publishes in peer-reviewed journals regularly. He has publications in Journal of Income Distribution and Eastern European Economics, among others. His research covers topics from development economics such as income distribution, migration, transformation of industry structure etc. Dr. Grigoryan has solid research consultancy experience, working with international and Armenian research organizations.

Aleksandr Grigoryan is an Affiliate Fellow of CERGE-EI since 2013. He is a board member of the Armenian Economic Association (AEA) and served as the AEA president in 2015-2017.


  • Doctor of Philosophy, Virginia Tech, 1987
  • Master of Business Administration, Adelphi University, 1982
  • Bachelor of Arts in Economics, Graduate Industrial School of Economics, 1979

Courses taught:

BUS322 Managerial Economics
BUS320 Data Analysis for Business Decisions
BUS365 Marketing Research
BUS050 Quantitative methods
BUS328 Economic Policy for Development and Competitiveness
BUS396 Capstone
ECON229 Time series econometrics
BUS299 Capstone
PSIA350 Macroeconomics
PSIA351 Microeconomics

Phone: 060 61 26 14

Website:, ResearchGate

CV: Download


  • Armenia-Turkey border opening: what determines the attitude of Armenians? (with Knar Khachatryan and Vahram Ter-Matevosyan), Caucasus Survey, 6/3, 2018.
  • Performance and capital structure of microfinance institutions in Eastern Europe and Central Asia, with Knar Khachatryan (AUA) and Valentina Hartarska (Auburn University). Eastern European Economics, 2017, 55:5, 395-419, DOI: 10.1080/00128775.2017.1336064
  • A model with indivisible investments in different environments. Armenian Economic Journal, 2015, Volume 1 [].
  • A model for anocracy, Journal of Income Distribution, Volume 23/1, 2013.
  • Remittances and emigration intentions: evidence from Armenia, with Knar Khachatryan (AUA). CERGE-EI WPS626, ISSN 1211-328, October 2018.
  • Positional concerns and Social capital: evidence from South Caucasus, with Armenak Antinyan (Tianjin University of Finance and Economics) and Vardan Baghdasaryan (AUA). CERGE-EI WPS625, ISSN 1211-3298, September 2018.
  • Multidimensional poverty in Armenia, with Pundarik Mukhopadhaya (Macquarie University). Forthcoming in ADB Economics WP Series, 2018.
  • Inclusive economic development in Armenia, with Vardan Baghdasaryan (AUA). Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. Forthcoming in ADB Economics WP Series.
  • Employment and labor market policies in Armenia, with Vardan Baghdasaryan (AUA). Good Jobs for Inclusive Growth in Central and West Asia; ADB, 2015-2017. Forthcoming in ADB Economics WP Series.
  • Armenia: Income Gaps. World Policy Journal, (2015) 32(1): 3-11 [short article].
  • Migration and power. EERC WP 15-03E, 2015.


  • The effects of the exchange rate on exports: the case of Armenia, with Gor Khachatryan (RA Ministry of Economic Development and Investments).
  • Interaction between income inequality and monetary policy: theory and evidence, with Hayk Sargsyan (Central Bank of Armenia).
  • Compulsory versus Voluntary Savings as Incentive Mechanism in Microlending Contracts: theory and evidence, with Knar Khachatryan (AUA), Oliver Bruno (SKEMA) and Roy Mersland (University of Agder).
  • Performance and Capital Structure of Microfinance Institutions: spatial patterns, with Knar Khachatryan and Valentina Hartarska (Auburn University).
  • Social expenditures and multidimensional poverty: evidence from the Armenian Household Survey Data, with Pundarik Mukhopadhaya (Macquarie University).
  • Seasonal versus permanent migration: common patterns in South Caucasus, with Sona Kalantaryan (European University Institute) and Armenak Antinyan (Tianjin University of Finance and Economics).
  • Testing monetary policy: Discretion versus Commitment, with Narek Ohanyan (University of Pompeu Fabra).