Armenian State University of Economics

What Armenian State University of Economics does

ASUE is a public state university in Yerevan, Armenia, specializing in economics, business, and finance education. Founded in 1930, it operates 6 faculties (Management, Economics, Applied Finance, Marketing and Business Administration, Accounting and Auditing, and Information Technologies and Data Science) plus a Financial-Economic College offering secondary vocational programs in finance, banking, accounting, and management. The university serves approximately 7,200 students across bachelor's, master's, and PhD programs, with 407 college graduates in the 2025-2026 academic year and 834 admitted applicants in a recent admission cycle. ASUE operates a branch campus in Gyumri and maintains support infrastructure including the Amberd Research Center, ASUE Library, Career Center, and S2I2 Innovation Incubator, as well as sports facilities including the Tntesaget Sport-Health Resort in Dilijan.

The university's revenue model combines state budget allocation from the Government of Armenia (its parent entity) with tuition fees. Part-time PhD programs are priced at 500,000 AMD annually (approximately $1,250 USD), with additional revenue streams from college vocational programs and continuing education courses. Student recruitment occurs through annual admission cycles, supported by digital channels (asue.am website, Facebook page with 10,000+ followers), direct outreach via autumn camps for 11th-12th graders, open days, career center employer partnerships, and international exchange program recruitment. Distribution is direct through Yerevan and Gyumri campuses plus part-time and distance learning for working professionals. The 101-250 employee headcount appears to reflect administrative and management staff only, with teaching faculty counted separately.

Internationally, ASUE holds the first Jean Monnet Network project at the university (EUCON, studying EU-EAEU relations, coordinated with Vienna University of Applied Sciences), is an active Erasmus+ participant, runs the S2I2 Social STEM Innovator's Incubator jointly with Florida State University under US State Department funding, and collaborates through Visegrad+ grants with partners across Armenia, Georgia, Poland, Slovakia, and the Czech Republic. The university also maintains student exchange agreements with multiple Russian universities including St. Petersburg State University of Economics, Ural State University of Economics, Peoples' Friendship University of Russia, and the Russian Academy of National Economy and Public Administration. In 2025, it received the 'Best European Associate Member of University Sport' award from EUSA covering 35 countries.

Name

Armenian State University of Economics

Legal name

Armenian State University of Economics

Website

https://asue.am

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

101–250 employees

Short description

Armenian State University of Economics is a public Yerevan university specializing in economics, business, and finance education across six faculties and a college, serving approximately 7,200 students through bachelor's, master's, and PhD programs with state and tuition funding.

Ownership category

akta.pro rank

Headquarters

HQ city

Yerevan, Yerevan

HQ country

Armenia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. Tuition fees: Revenue from tuition-paying students in bachelor's, master's, and PhD programs. Part-time PhD programs charged at 500,000 AMD annually. Additional revenue from college programs and professional development courses.
2. State funding: Government budget allocation for public higher education institution

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

ASUE is a public university that delivers higher education and secondary vocational programs in economics, finance, business, management, accounting, marketing, and information technology/data science through bachelor's, master's, and PhD degrees. The university also operates a financial-economic college for vocational training, an applied research center (Amberd), a career services center, and a US-funded entrepreneurship incubator.

Product overview

ASUE is a public university offering a comprehensive portfolio of educational services through its main campus in Yerevan. The institution provides undergraduate, graduate, and postgraduate programs across six faculties (Management, Economics, Applied Finance, Marketing and Business Administration, Accounting and Auditing, and Information Technologies and Data Science), with both full-time and part-time study options. Supporting services include the ASUE College for vocational training, the Amberd Research Center for scholarly research, the Career Center for employment support, the S2I2 STEM Incubator for entrepreneurship (in partnership with Florida State University), student governance through the Student Council, academic publishing through multiple journals, and sports facilities including a resort in Dilijan. The university also manages a branch in Gyumri and maintains international partnerships through Erasmus+, Jean Monnet Networks, and other exchange programs.

Differentiator

Problem solved

Functional benefit

Products and services

• ASUE Bachelor's, Master's and PhD Degree Programs University-level educational programs spanning bachelor's, master's, PhD, and part-time/distance learning formats across the faculties of Management, Economics, Applied Finance, Marketing and Business Administration, Accounting and Auditing, and Information Technologies and Data Science. Designed for prospective students seeking academic credentials in economics, finance, business, management, accounting, marketing, IT, and data science.
• ASUE Financial-Economic College Vocational Programs Secondary specialized vocational education programs at the ASUE Financial-Economic College covering culinary arts, service, insurance, transport, welding, finance, banking, management, and accounting. Designed for students seeking quick workforce entry through two-year vocational qualifications.
• Amberd Research Center University research center conducting scientific development and analysis on current challenges in economics, law, social, geopolitical, and environmental issues. Operates as a core research arm of the university.
• S2I2 Social STEM Innovator's Incubator Innovation incubator supporting entrepreneurship and innovative projects, established jointly with Florida State University and funded by the US Department of State. Provides incubation services to ASUE students and the broader Armenian community.
• ASUE Career Center Services Career building and development services including internship placement, partnerships with employers, career counseling, and alumni network support for ASUE students and graduates.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

18 partnerships are on record, tiered core, major and minor.

• Florida State UniversitycoreStrategic or Co-development Partner · 1 January 2026Collaboration established S2I2 Social STEM Innovator's Incubator at ASUE, funded by US State Department. Joint educational programs and entrepreneurship incubation.
• Vienna University of Applied Sciences (UAS-BFI)coreStrategic or Co-development Partner · 1 January 2020Project coordinator for EUCON Jean Monnet Network project studying EU-EAEU relations. First Jean Monnet Network project at ASUE.
• European Union Erasmus+ ProgramcoreStrategic or Co-development PartnerActive participant in Erasmus+ mobility programs, staff exchanges, and cooperation projects with European universities. Summer schools, student exchanges, and joint research initiatives.
• Visegrad International FundmajorStrategic or Co-development PartnerRecipient of Visegrad+ grants for Transferring V4 expertise in knowledge/technology transfer project. Partners include CANDLE SRI (Armenia), TSU (Georgia), SUT (Poland), TUKE (Slovakia), Masaryk University (Czech Republic).
• CANDLE Synchrotron Research InstituteminorStrategic or Co-development PartnerPartner in Visegrad project on knowledge/technology transfer
• Ivane Javakhishvili Tbilisi State UniversityminorStrategic or Co-development PartnerPartner in Visegrad project on knowledge/technology transfer
• Silesian University of Technology (Poland)minorStrategic or Co-development PartnerPartner in Visegrad project on knowledge/technology transfer
• Technical University of Košice (Slovakia)minorStrategic or Co-development PartnerPartner in Visegrad project on knowledge/technology transfer
• Masaryk University (Czech Republic)minorStrategic or Co-development PartnerPartner in Visegrad project on knowledge/technology transfer
• Peoples' Friendship University of RussiaminorStrategic or Co-development PartnerExchange destination for one semester studies for ASUE students in Russian universities
• St. Petersburg State University of EconomicsminorStrategic or Co-development PartnerExchange destination for one semester studies
• Ural State University of EconomicsminorStrategic or Co-development PartnerExchange destination for one semester studies
• Russian Academy of National Economy and Public Administration (St. Petersburg branch)minorStrategic or Co-development PartnerExchange destination for one semester studies
• EURAES Interparliamentary AssemblyminorStrategic or Co-development PartnerExchange destination for one semester studies
• St. Petersburg State UniversityminorStrategic or Co-development PartnerExchange destination for one semester studies
• Minho University (Portugal)minorStrategic or Co-development PartnerHost institution for Erasmus+ International Staff Week 2026
• Democritus University of Thrace (Greece)minorStrategic or Co-development PartnerErasmus+ exchange partner institution
• Anahit TEOLminorOthersLocal company providing internship and employment opportunities through career center

Scale indicators4 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• National Polytechnic University of Armenia: Armenia's primary public technical university, competing domestically for students interested in applied economics, IT, and management-adjacent technical programs. Broader in scope than ASUE but overlapping in the IT/data science and applied-economics niches.
• Yerevan State University: Armenia's oldest and largest public university, the primary domestic competitor for high-achieving students considering economics, business, and law programs. Overlaps with ASUE on faculty-level offerings but operates a much broader portfolio across humanities and sciences.

Direct peers

• Russian Academy of National Economy and Public Administration (RANEPA): Russia's flagship public university dedicated to economics, business, and public administration. Directly comparable in mission (specialized economics/business higher education), faculty structure, and graduate program depth, and one of ASUE's established exchange destinations.
• St. Petersburg State University of Economics: Specialized Russian public economics university offering bachelor's, master's, and doctoral programs in economics, finance, and management. Directly comparable in specialization and program structure, and an existing student-exchange partner of ASUE.
• Ural State University of Economics: Russian specialized economics university offering undergraduate and graduate programs in economics, management, and IT. Directly comparable to ASUE in specialization, faculty structure, and target student profile.
• Plekhanov Russian University of Economics: One of Russia's leading specialized economics universities, with a similar faculty mix spanning management, finance, marketing, accounting, and IT. Directly comparable to ASUE in mission and program breadth.

Others

• Peoples' Friendship University of Russia (RUDN): Moscow-based public university with broad international student focus and an existing one-semester exchange partnership with ASUE. Not a direct economics specialist, but a relevant comparator for international-student recruitment dynamics and cross-border academic mobility.

Regional players

• Kyiv National Economic University named after Vadym Hetman: Ukraine's leading specialized economics university, with similar faculty coverage in economics, finance, management, and IT. Comparable in specialization but operates primarily in Ukraine rather than competing directly with ASUE in Armenia.
• Belarus State Economic University: Belarus's primary specialized economics university, with analogous program structure across economics, finance, accounting, and management. Comparable as a regional peer but geographically non-competing with ASUE.
• Ivane Javakhishvili Tbilisi State University: Georgia's oldest and largest public university, with economics, business, and management programs that overlap with ASUE's offerings. Functions as a regional peer and an existing Visegrad-project partner; broad in scope rather than narrowly specialized.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/www.asue.am
• LinkedInlinkedin.com/school/armenia-state-university-of-economics

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Armenian State University of Economics