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Writer's pictureAram Ghazaryan

Empowering the Next Generation of Economic Thinkers in Armenia

Updated: Oct 15



At the School for Economic Decisions (SED), we’re driven by a clear mission: to empower Armenians with the decision-making skills essential for navigating the modern economy. In today’s world, understanding economics isn’t just for policymakers or business leaders—it’s a vital skill that affects everyone’s daily life, from managing personal finances to making smart business decisions. Our programs are designed to bridge that gap by offering practical, accessible education that anyone can apply.


Who We Are: The Center for Behavioral Decisions (CBD)


SED is an initiative of the Center for Behavioral Decisions (CBD), an organization dedicated to helping people make better decisions in both their personal and professional lives. CBD specializes in integrating behavioral science with decision-making processes, focusing on how cognitive biases and human psychology influence our choices. Through research and education, we aim to build a more informed society that can approach economic, financial, and everyday decisions with clarity and confidence.


At the heart of CBD’s efforts is the understanding that good decisions are key to success—whether you’re a student learning about economics for the first time, a professional looking to improve financial skills, or an organization shaping policy. Through SED, CBD brings this vision to life by offering a range of educational programs and initiatives that focus on practical applications of economic principles, behavioral economics, and decision-making strategies.


Tatevatsi Economics Olympiad (TEO): Inspiring the Next Generation


One of our proudest achievements at SED is the Tatevatsi Economics Olympiad (TEO), a nationwide competition designed to ignite a passion for economics among Armenia’s high school students. Launched in 2023, the TEO has quickly become a flagship event in the field of economic education in Armenia. It’s not just a test of knowledge—it’s an opportunity for students to engage with real-world economic challenges and develop the skills needed to tackle them.

The Olympiad consists of three phases:


  1. School Round: Students from across Armenia take part in an initial online test.

  2. National Round: The top performers are invited to Yerevan, where they participate in a combination of written and oral exams.

  3. International Round: The highest achievers from the national round go on to represent Armenia in an international competition, competing with students from around the world.


The Olympiad helps students develop critical thinking and problem-solving skills while applying economic theories to practical scenarios. By focusing on real-life applications of economics, the TEO inspires students to explore how economics affects not only global markets but their own communities and personal lives.


Promoting Economic Literacy Across Armenia


While the TEO is a cornerstone of our efforts, it’s just one way SED is working to improve economic literacy across Armenia. We offer a wide range of workshops and seminars aimed at professionals from diverse sectors—teachers, journalists, IT specialists, and more. These programs are designed to demystify economic principles, making them easy to understand and apply in both personal and professional contexts. Participants learn how to interpret economic data, make strategic financial decisions, and navigate economic trends that affect their industries.


Our workshops aren’t just about learning theory—they’re focused on real-world applications. Whether it’s helping a teacher explain economic concepts to students or guiding a journalist in interpreting financial data for the public, we’re committed to making economic education practical and actionable for everyone.


Our Partners: Working Together for a Better Future


We’re proud to collaborate with some of Armenia’s leading institutions and international organizations to bring our vision to life. Our key partners include:


  • The Ministry of Education, Science, Culture, and Sport of the Republic of Armenia

  • The Central Bank of Armenia

  • The American University of Armenia

  • The Economic Fundamentals Initiative, a global partner that supports our efforts to enhance economic literacy and education across the country.


These partnerships are crucial to the success of our programs, enabling us to reach more students and professionals every year. Through their support, we’re able to offer programs like the TEO free of charge, ensuring that every student, regardless of background, has the opportunity to participate.


In 2024, we’ve seen incredible growth in participation in the TEO and other initiatives, reflecting the increasing importance of economic education in shaping Armenia’s future. A special thanks goes to Evocabank, our 2024 general supporter, and Easy Pay, who supported the national round of the Olympiad. Their contributions have played a pivotal role in making these opportunities accessible to all.


Looking Ahead: Join Us in 2025 and Beyond


As we look forward to 2025, SED is excited to continue expanding our programs and partnerships. Our goal is to reach even more students, professionals, and communities, building a stronger foundation for economic literacy in Armenia.


We invite new partners to join us in this important work. Together, we can equip the next generation with the critical decision-making skills they need to navigate the complexities of the global economy. By fostering a deeper understanding of economics and behavioral science, we can help create a brighter, more prosperous future for Armenia.


If you’re interested in learning more or partnering with us, reach out today! Let’s work together to empower Armenia’s youth and professionals with the knowledge and tools to succeed in an ever-changing economic landscape.

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