The department of Economics & Management was formed in 2003 in the framework of European Regional Academy (ERA) on the basis of treaties and agreements concluded between RA and a number of European countries. The economics chair formed in parallel with development of faculty.

​The faculty implements tuition with combination of both Armenian and European education programs in Bachelor, Master's degree and distance learning systems, as well as the educational program of the Master's degree in English language for foreigners in “International Economic Relations” profession with “International Business” specialization.