Republican Party of Armenia

 The Armenian Economic Society Annual Conference kicked off today in Yerevan State University. The event was attended by Prime Minister Tigran Sargsyan, Minister-Chief of Government Staff Vache Gabrielyan, Economy Minister V. Avanesyan, prominent economists and students.

Welcoming the forum, the Prime Minister said the conference is gaining momentum, with the scope of participants expanding from year to year. According to the head of government, events like this are meant to promote economic thought, boost interest for economic research among young people.

“We have to create a research-friendly environment at Yerevan State University. Also, we need to follow such research as closely as possible in order to tap on the main ideas that the Armenian Economic Society may provide us,” Tigran Sargsyan stated.

The Prime Minister said that while the global economic crisis has created additional difficulties for economists worldwide, yet their work has become more exciting for this very reason.

“If we follow the Nobel awards offered in the field of economics, we can see the topics of top interest to modern economics. It appears that many objective laws and patterns stipulated in classical economics often lead to a deadlock. They are replaced by other patterns, while forcing economists to cooperate closely with other professions, including sociology, psychology. All this makes us expand the scope of economic studies,” the Prime Minister noted.

The Prime Minister noted that by taking a retrospective glance at those fairly complex socio-economic and financial processes we went through over the past 20 years we are just trying to understand what challenges we may face ahead.

“In this respect, the international experience and the regularities observed in transition countries may help us better understand our own peculiarities and the patterns existing in our economic system,” Tigran Sargsyan said reiterating that the Government will closely follow the discussions held during the forum.

The first report at the three-day conference was made by Istanbul-based economist of Armenian origin Taron Ajemoglu who is considered to be one of the world’s top ten economists.