Dr. Syed Sohail H. Naqvi Prof. Dr. Riaz ul Haq Tariq Miss Ghayyur Fatima Mr. M. Tahir Ali Shah Mr. Shafiullah Khan Executive Director Member (Acad) Deputy Director (Curri) Assistant Director Assistant Director


1. 2. 3. 4. 5. 6. Introduction……………………………………………. Frame work/Template for BS (4 years) In Economics…………………………………………. 7 9

Scheme of Studies for BS (4 years)…………………. 10 in Economics Objectives…………………………………………….. 12

Details of Courses for BS (4 years) in Economics……………………………………………..13 Details of Compulsory courses (Annexures A, B, C, D & E)…………………………… 102


Curriculum development is a highly organized and systematic process and involves a number of procedures. Many of these procedures include incorporating the results from international research studies and reforms made in other countries. These studies and reforms are then related to the particular subject and the position in Pakistan so that the proposed curriculum may have its roots in the socio-economics setup in which it is to be introduced. Hence, unlike a machine, it is not possible to accept any curriculum in its entirety. It has to be studied thoroughly and all aspects are to be critically examined before any component is recommended for adoption. In exercise of the powers conferred by sub-section (1) of section 3 of the Federal Supervision of Curricula Textbooks and Maintenance of Standards of Education Act 1976, the Federal Government vide notification No. D773/76-JEA (cur.), dated December 4th 1976, appointed the University Grants Commission as the competent authority to look after the curriculum revision work beyond class XII at the bachelor level and onwards to all degrees, certificates and diplomas awarded by degree colleges, universities and other institutions of higher education. In pursuance of the above decisions and directives, the Higher Education Commission (HEC) is continually performing curriculum revision in collaboration with universities. According to the decision of the special meeting of Vice-Chancellor’s Committee, the curriculum of a subject must be reviewed after every 3 years. A committee of experts comprising of conveners from the National Curriculum Revision of HEC in Basic, Applied Social Sciences and Engineering disciplines met in April 2007 and developed a unified template to standardize degree programs in the country to bring the national curriculum at par with international standards, and to fulfill the needs of the local industries. It also aimed to give a basic, broad based knowledge to the students to ensure the quality of education. The new BS degree shall be of 4 years duration, and will require the completion of 130-136 credit hours. For those social sciences and basic sciences degrees, 63.50% of the curriculum will consist of discipline specific courses, and 36.50% will consist of compulsory courses and general courses offered through other departments. For the purpose of curriculum revision various committees are constituted at the national level, comprising of senior teachers nominated by universities, degree awarding institutions, R&D organizations and respective accreditation councils. The National Curriculum Revision 4

Committee for Economics in a meeting held on June 27-28, 2008 at the HEC Islamabad in continuation of its earlier meeting held on May 15-16, 2008 at HEC Islamabad revised the curriculum in light of the unified template. The final draft prepared by the National Curriculum Revision Special Committee, duly approved by the competent authority, is being circulated for implementation in the concerned institutions.

Member Academics July 2008
















Abbreviations Used: NCRC. VCC. EXP. COL. UNI. PREP. REC. LI R&D HEC National Curriculum Revision Committee Vice-Chancellor’s Committee Experts Colleges Universities Preparation Recommendations Learning Innovation Research & Development Organization Higher Education Commission




Sargodha Prof. University of Sargodha. Department of Economics. Pervez Zamurrad Janjua. 4. Quaid-i-Azam University. HEC. Islamabad. Toseef Azid. Marhab Qasmi. Dr. Islamabad Dr. Rashid Naeem. Dr. Hafiz M. Sargodha. Chairman. Prof. Department of Economics. Department of Economics. Member 6. University of Sargodha. Zakir Hussain. Dr. Member 7 . Member 5. Dr. Dr. Yasin. Department of Economics. Islamabad Prof. IIIE International Islamic University. Allama Iqbal Open University. Islamabad Dr. 2008 at HEC. Chairman. Multan Prof. The following attended the meetings: 1. Foreign Faculty Expert. Chairman. University of Sindh. Jamshoro Convener 2. Prof. Sofia Anwar. Assistant Professor. Member 7. Department of Economics. Department of Economics. Dr. Member Member Member 3. Bahauddin Zakariya University. Islamabad which was follow up of the preliminary meeting held on May 15-16. Eatzaz Ahmad.INTRODUCTION The final NCRC meeting in Economics was held on June 27-28. IIIE. School of Economics. 2008 at HEC Islamabad. International Islamic University. Member 8.

Bashir Ahmad Khilji. Peshawar. Dr. HEC.9. Shafiullah. Asad Raza Abidi. Department of Economics. 12.Naeem-ur-Rehman Khattak. Dr. 14. The Islamia University. Bahawalpur Member Member Member Member Member/ Secretary The preliminary meeting started with the recitation from the Holy Quran by Mr. Professor. University of Peshawar. Department of Economics. Rana Ejaz Ali Khan. Member (Academics). Islamabad 11. Toseef Azid. Dr.E. Dr. Department of Economics. welcomed the participants and asked them to adjust the existing curriculum of Economics in the light of the approved template/framework developed by HEC for 4-Year integrated BS program and suggest those books which are latest and readily available in the market. Khairpur 13.. Department of Economics. Rana Ejaz Ali Khan. Quetta Member 10. Shah Abdul Latif University . Department of Economics. Then the members unanimously selected Prof. University of Balochistan. Riaz ul Haq Tariq. Assistant Director. Department of Economics. Multan as Convener and Dr. Dr. GC University. The Islamia University of Bahawalpur. Associate Professor. After two days long deliberation the members agreed on the following format and scheme of studies for BS 4-Year Economics. I.I. Department of Economics. Bahawalpur as Secretary of the meeting. Professor of Economics & Dean Faculty of Social Sciences. Faisalabad. Bahauddin Zakariya University.I. Dr. 8 . Prof. International Islamic University. Asad Zaman. Syed Mohammad Arif. Dr. Dr.

Economics 8. Sociology 2. Statistics II 7. Deve. Research Methodology 9. optional * Pakistan studies Islamic Studies / Ethics Mathematics I Mathematics II / Univ. Public Finance 7. Geography 6. hr English I English II English III English iv/ Univ. Econometrics I 4. Principal of Macro Econ. Statistics I 6. Psychology 4. Agriculture Economics 3 3 3 3 3 3 3 3 3 25 Courses: 9 27 Major courses including research project/internship 11-13 courses 36-42 Credit hours Subject 1. Mathematical Economics II 9. Micro Economics 2. Philosophy 7. hr 3 3 3 3 3 3 Courses: 12 36 Courses: 6 18 * ** University has the option to recommend any other course in lieu of English IV University may recommend any other course in lieu of Mathematics II 9 . Econometrics II 5. Elective-III 4. 2. Intermediate Macro Economics 5. hr 1. 4. 3. Elective-VI (List of Elective/Optional subject is given ) Cr. Elective-II 3. hr 3 3 3 3 3 3 3 3 3 3 3 3 Subject 1. General Science 8. Elective-I 2. Principal of Micro Econ. World History 5. Islamic Economics 11. optional ** Introduction to Computer Courses: 9 3 3 3 3 2 2 3 3 3 General Courses to be chosen from other departments 7-8 courses 21-24 Cr. General subjects is given ) Courses: 8 24 3 3 3 3 3 3 3 3 Discipline Specific Foundation Courses 9-10 courses 30-33 Credit hours Subject Cr. Elective-V 6.FRAMEWORK FOR BS (4-YEAR) ECONOMICS Compulsory Requirements (the student has no choice) 9 courses 25 Credit hours Subject Cr. Applied Economics 12. Intermediate Micro Eco. Mathematical Economics I 8. Research Paper Elective Courses within the major 4 courses 12 Credit Hours Cr. International Trade Theory 6. Macro Economics 3. History of Economic Thoughts 10. Elective-IV 5. hours Subject Cr. hr 1. Law (List of Addit. Education 3.

SCHEME OF STUDIES FOR BS (4YEAR) ECONOMICS Semester/Year First ECON 101 ECON 102 ECON 103 ECON 104 ECON 105 ECON 106 Second ECON 107 ECON 108 ECON 109 ECON 110 ECON 111 ECON 112 Third ECON 201 ECON 202 ECON 203 ECON 204 ECON 205 ECON 206 Fourth ECON 207 ECON 208 ECON 209 ECON 210 ECON 211 ECON 212 Fifth ECON301 Name of Subject English I Principal of Micro Economics Islamic Studies Mathematics I Computer Application Optional (Non-Economic) Credits 3 3 2 3 3 3 17 3 2 3 3 3 3 17 3 3 3 3 3 3 18 3 3 3 3 3 3 18 3 English II Pakistan Studies Principal of Macro Economics Mathematics II Optional (Non-Economics) Optional (Non-Economics) English III Intermediate Micro Economics Development Economics Statistics I Optional (Non-Economics) Optional (Non-Economics) English III Intermediate macro economics Statistics II Agriculture Economics Optional (Non-Economics) Optional (Non-Economics) Micro Economics 10 .

3. objectives and list of books for each course. Mass Communication International Relation Principal of Accounting Political Science Spanish Language 11 . assigned to them in the preliminary meeting. 5. 6. contents. 4.ECON302 ECON303 ECON304 ECON305 ECON306 Sixth ECO307 ECON308 ECON309 ECON310 ECON311 Seventh ECON401 ECON402 ECON 403 ECON404 ECON405 Eight ECON 406 ECON407 ECON408 ECON 409 Econometrics I Mathematical Economics I Optional ( Economics) Optional (Non-Economics) Optional (Economics) 3 3 3 3 3 18 3 3 3 3 3 15 3 3 3 3 3 15 3 3 3 3 12 Macro Economics Econometrics II Mathematical Economics II Optional (Economics) Optional (Economics) International Trade Theory Research Methodology Public Finance History of Economics Thoughts Optional (Economics) Applied Economics Islamic Economics Research Paper Optional (Economics) Total Credit Hours = 130 In the final meeting the members furnish details of courses i.e. course outlines. 2. List of Additional General Courses: 1.

7. teaching and research in economics. 021. 009. 007. 008. 013. General Equilibrium and Welfare Economics Human Resource Development Labor Economics Population Economics Comparative Economic System Project Appraisal and Investment Analysis Major Issues in Pakistan Economy Environmental Economics Operation Research Dynamic Macro Economics Monetary Economics Monetary Policy Fiscal Policy Rural Development International Trade Policy International Finance Development Policy Institutional Economics Financial Institution and Market Game Theory Managerial Economics Political Economy Industrial Economics Transport Economics Health Economics Resource Economics Experimental Economics Urban Economics Regional Economics Topics in Marketing Poverty Alleviation MISSION STATEMENT The main purpose is to achieve the highest possible standards of education. 022. Russian Arabic German List of Elective Courses (Optional ): 001. 014. 020. 029. 8. 018. 011. 019. 002. 024. 026. 023. 004. More specific goals are: 12 . 9. 010. 006. 030. 017. 016. 012. 003. 025. 028. 027. 015. 005. 031.

The Price Mechanism The concept of a market economy. Classification of economics. Market equilibrium and determination of price. Exchange and Distribution. Course Contents Introduction An overview of the social system. tools of analysis and terminologies used in microeconomics. schedules & graphs of demand and supply. Develop curriculum as per market needs and demand of institutions and society. Emphasis will be on the use of graphs. Prepare students to enhance knowledge and welfare of the society. 6. Basic concepts: Commodities. Pre-requisite F. The objective is to give the students with a clear understanding of the basic concepts. Economic agents and economic problem. Importance and scope of micro-economics. F.Sc.1. considering the changing global and national requirements. Develop awareness in students to prepare themselves for national and international challenges. Hrs. 4. The teacher is expected to draw examples from the surrounding world to clarify the concepts. Impart sound theoretical and applied knowledge of Economics. Details of Courses ECON 102 Principles of Micro Economics 3 Cr. Economics as a science of choices between competing wants and limited resources. Movement along and shifting of demand and 13 . Laws of demand and supply.A. or equivalent Objectives The course is designed for the beginners with either no formal background or very little acquaintance with economics.. Develop an ability in students to become effective independent researchers and learners. Encourage intellectual development and scholarship in economics. 3. Income and Resources. 2. Economy as integral part of the social system. diagrams and numerical tables/schedules for exposition. Production and Consumption. 5.

Forms of business organization: Proprietorship. McConnel and Bruce . The utility theory. Objectives of the firm: The profit motive. Price determination. time and degree of competition. Cost function: Total.Principles of Economics .Principles of Economics -17th Edition (2006). Classification of the firms. Concept of elasticity of demand and supply. G. Imperfect competition: Monopoly and Monoposony. Recommended Book • • • • Mankiw. Individual demand and market demand. Equilibrium of the firm. The laws of returns. Introduction to demand elasticity. Production and Cost Functions Production function. extent. Multi-national corporations. Samuelson and Nordrons . Problem of the consumers. Monopolistic competition.Economics –18th Edition (2004)McGraw Hill. Firms and Industries Business enterprises. Industrial structure & market supply. Secondary/intermediate inputs: Raw material and energy.2nd Edition (2001). Revenues of the firm: total. Perfect competition among buyers and sellers. Importance of elasticity. Production and supply of commodities (goods and services). Partnership. The need for market regulation and role of the government. average and marginal curves. Output maximization and cost minimization. average and marginal costs. Market Structure Classification of markets according to nature of commodity. Budget constraint and consumer’s equilibrium. SouthWest Publishers.McGraw Hill. Joint stock companies. Primary inputs: factors of production. Lipsey and Goerant-Principles of Economics-10th Edition (2003)Oxford University Press 14 . . Public goods and their provision beyond the market. Short-run and Longrun costs. Laws of diminishing marginal utility and equi-marginal utilities. Consumer’s Behaviour Consumers/ households as economic agents.

Investment and Government spending. Concept of business cycles: Boom and Depression.ECON 109 Principles of Macro Economics Pre-requisite F. The objective is to give the students with a clear understanding of the basic concepts. Nominal versus Real income. Income and expenditure identities. Brief account of the development of macroeconomics after the World War-II. Measures of national income: Gross Domestic Product (GDP) and Gross National Product (GNP). F. forms and functions. National Income Definition and concept of national income. The Quantity Theory of money. Macro-models as abstraction from the real economy. Computation of national income: Product. 15 . Components of aggregate demand: Consumption. Components of Aggregate Demand The Concept of Open and closed economy models. Hrs.. Central Bank and its functions with reference to the State Bank of Pakistan.A. Commercial banking. Circular flow of income. Objectives The course is designed for the beginners with no formal background or little acquaintance with economics.Sc. Complexities of the world of business. Inflation: measurement and impacts. Course Contents Introduction The economy in aggregate. or equivalent 3 Cr. The teacher is expected to draw examples from the surrounding world to clarify the concepts. GDP at factor cost and at market prices. Macroeconomic variables and their mutual relationship. Labor and Capital markets. Income and Expenditure approaches. Scope of macroeconomics. Per capita income and the standard of living. Concepts of Inflation and Unemployment. Monetary policy: brief introduction. causes of inflation and remedies. Money and Banking Money: definition. diagrams and numerical tables/schedules for exposition. tools of analysis and terminologies used in macroeconomics. Concept of aggregate markets: Product. Money. Emphasis will be on the use of graphs.

L. 3 C r. Revenue and Capital account.Economics –18th Edition (2004)McGraw Hill. R. Custom Unions. Samulson and Nordrons . Excise.Macroeconomics. Non-tax revenues. The teacher is expected to draw examples from surroundings for exposition. Inc.Prentice Hall. H rs . Currency exchange rates. Income and Commodity taxes. The students may be given assignments to collect information from the markets and to analyze the data. The problem of external debt. Balance of Payments: causes of deficits in BOP of Pakistan and remedial measures. 7th Edition (2004). Parkin. Commercial Policy: objectives and scope.Public Finance and Taxation Sources of public revenue. ECON 202 Intermediate Micro Economics Pre-requisite ECON 102 Principles of Micro Economics Objectives The objective of the course is to clarify and extend further the microeconomic concepts and to develop analytical skills and solving petty problems. In addition to diagrammatic approach. the students ought to get accustomed to simple mathematics and numerical tools. Fiscal policy: meaning and objectives. Sales. Concept of imports and exports. Customs. Miller. 16 . They may have tours to the industrial units and to observe the process of production and problems in supply and demand. Various forms of taxes: Direct and Indirect. Concept of budget deficits and sources of filling the gaps.G–Principles of Economics-2ndEdition (2001). Michael . International Trade Global distribution of resources. Recommended Books • • • • Mankiw. Deficit financing.SouthWest Publishers. Major heads of public expenditure.Addison Wesley. Theory of absolute and comparative advantage.– Economics Today -14th Edition (2005) .

Iso-quant maps. Cross-Price and Income elasticity. Introduction to mathematical functions used in economics: Utility. Total and variable costs. Elasticity of substitution. The relationship between production and consumption. Non-homothetic Preferences. Output maximization subject to given cost/budget. Gross substitutes and net substitutes. Fixed and variable-coefficient functions.. Market demand as horizontal summation of individual demands. Short-run and Long-run cost functions. Laws of diminishing marginal and equi-marginal utility. Demand for variable factors. Engel’s law and classification of goods. Demand & Elasticity Derivation of demand functions using indifference curves. Production and valueadded functions. Some commonly used production functions: Cobb Douglas and CES etc. Cost of Production Types of costs: Economic and Accounting costs. Indifference curves and their properties. The utility function and its arguments. classification and problems of firms. Consumer’s equilibrium and law of equi-marginal utility. The cost line and equilibrium of the firm. Brief account of the Theory of Value. Marginal rate of (commodity) substitution (MRCS). Fixed and Sunk costs. Elasticity of demand. Ordinary and Compensated demand functions. Cost minimization subject to given/pre17 . Constant and Increasing cost industries. Theory of Consumer Behaviour Axioms of Rationality. Economic models as abstraction from the reality. Introduction to the Revealed Preference Theory. Inferior and Giffen goods. The role of markets and importance of price signals in efficient allocation of resources. Concepts of imperfect substitutes and complements. The indirect utility function. Importance and types: Own-Price. The budget constraint. Decreasing. Opportunity costs. Average and marginal products of variable factors and their interrelationship. Returns to scales and Economies of scales. Normal. Income & Substitution effects of a price change: diagrammatic representation. Supply and Production functions etc. Relationships among different demand elasticities. Marginal rate of (technical) substitution (MRTS).Course Contents Introduction Scope of Microeconomics and areas of its concern. Demand. Convexity of indifference curve and diminishing MRS. Economic agents and decision making. average and marginal costs. Production Functions Definition.

Price leadership and cartel formation. Modern theory of factor demand with emphasis on the labour and capital markets. Market regulation and anti-trust policies. Market Structure and Price Determination (i) The Perfectly Competitive Market Assumptions of the model. Constant-cost and increasing-cost industries. Economic profit and rent. The marginal productivity theory and its criticism. Wage determination and the role of government and labour unions. The controversy over the profit maximization hypothesis. Input price 18 . Pricing of the Factors of Production Derived Demand for Variable Inputs. Short-run and Long-run position of a price taking and price seeking firm. Short-run and Long-run equilibrium of competitive firms. Total. Comparison with pure competition & monopoly. (iii) Monopolistic Competition and Oligopoly Characteristics of monopolistic competition. Input cost and demand for factors of production. Short-run and Long-run equilibrium. Short-run and Long-run Equilibrium of a firm with monopoly power. Public utilities and marginal cost pricing. Chamberlain. The basic theories of monopolistic competition. Price discrimination. Models of non-collusive Oligopoly: Cournot. Equality of marginal revenue and marginal costs. Market equilibrium with monopoly power. The social costs of monopolies. Multi-plant monopoly. The labour supply function. Decreasing-cost industries and natural monopolies. Supply functions in the short and long-run. (ii) Monopoly and Monopsony The market power of a firm. Average and Marginal Revenues. Behaviour of the Firm Profit maximization (loss minimization) as the sole objective of all firms. Bi-lateral monopoly.determined level of output. Pure and Perfect Competition. The role of advertisement and media. Derivation of equilibrium Prices and Quantity using simple equations. Equilibrium of the firm when it faces the market. Sweezy etc. Sources of monopoly power: why do monopolies exist. Comparison between monopoly and monopsony. Bertrand.

Pricing of factors that are fixed in the short-run: Rents & Quasirents. Structuralist’s View Point. Dowling. Market Friendly Approach. Lewis’ Model of surplus Labor. 19 . Vicious Circle of Poverty. Recommended Books • • • • • • • • Pindyck and Rubinfled with Mehta. Scope and Significance of Development Economics. ECON 203 Development Economics C r. Big Push Theory. Singapore Walter Nicholson. A.Intermediate Microeconomics: Modern Approach6th edition (2002). Edward – Mathematics for Economists -(1980) (Schaum’s Outline Series) McGraw Hill Inc. Eckert – The Price System and Resource Allocation – 10th Edition (1988) or latest. Course Contents Scope and New Developments Definitions: Economic Development and Growth. New York.W. Stages of Economic Growth.6th Edition (2005)Pearson Education. Dependency Theory.Modern Microeconomics.Intermediate Microeconomics. W. Per Capita Income approach. Quality of Life Index / HDI etc. Varian Hall R. New York. Stock prices. Why the whole world is not developed? Major Theories of Development Classical and Neo-classical Theories.Microeconomics.. Leftwich.The Dryden Press. H rs .2nd edition (1979)Macmillan. Transforming Agriculture. Identification of Development variables.6th Edition (1994) or latest – The Dryden Press: Harcourt Brace College Publishers Koutsoyiannis. Agriculture and Industry Agriculture vs. Endogenous Growth Theory: New growth Theory. Rains’ Fei Model and its critical review. Adam Smith and Competitive Capitalism. Income Convergence/Divergence debate. Measurement of Economic Development and Growth. Industry: Development Debate. Characteristics of LDC’s. Historical overview of world development and emerging major issues pertaining to Less Developed Countries (LDC’s). Norton Publishing Company..elasticity. Balanced and Unbalanced Growth.

saving mobilization/Domestic resource mobilization. Growth and Income Inequality in the world. Poverty Indicators.. ASEAN Crises. Liberalization of Trade and its impacts/gains etc. Poverty and Income Distribution Definitions and Measurement of Poverty/Poverty Line. Human Resources as a source of growth and their contributions. Sources of borrowing. Productivity Criterion and New Index etc.. productivity growth. Debt Laffer Curve. Empirical evidences on 20 . Aid commitments and disbursement.Underemployment problem. Debt Cycle Theory/Stages. food. Poverty concepts/definitions. Role of GATT and its Failure.. Basis for trade and benefits: Gains from Trade: Static and Dynamic Gains. and Employment generation Strategies/Techniques. Role of Agriculture: Market for Industrial Output. Problem of Sectoral Dualism. Revealed Comparative Advantage and Competitiveness. Poverty of Opportunities Index (POPI) and Calorie-based approach etc. WTO. Provision of Input. Debt Modeling and Forecasting Future Implication. Product Cycle. Policies to combat debt problem: Forecasting debt and solution for debt burden. Basic needs approach. impacts and policies to combat poverty. Trade Instability. Debt rescheduling etc. Models of Employment & Unemployment: Time Criterion. Distribution of gains from Trade liberalization. Sources. Aid. and Competitiveness. WTO and LDC’s. Why Green Revolution? The Spread of Green Revolution in Pakistan and its Status / Contributions. Comparative Advantage. Debt Burden: Debt Servicing. Transfer of Technology: Sources & Need. Investment in education and returns. International Debt. Determinants of exports growth. Land Holdings. Regional Trade Associations (RTA’s): their role and contributions. Green Revolution and it’s Performance. Liberalization and International Trade Trade vs. Industrialization and its financing mechanism. Latin American Debt Crises. Trade as an engine of growth. Expenditure approach. Relative Poverty. Terms of Trade Issue and Subsidies. Poverty by socio-economic groups. etc. Need for Industrialization. Strategies and tools to combat poverty. Education and Human Capital Demographic Transition. Absolute Poverty. Foreign Exchange Constraints and Balance of Payment deficit. Population. Debt buy back etc. Technology Centered Development and Appropriate technology issue. Debt Problem of LDC’s and South Asia. Complementarities. Aid / Assistance Why international borrowing? Two Gap Model. Debt Overhang and threat to growth. Income approach.

Sustained development. (1989).). Social Action Programs and Poverty alleviation. Use of Pesticides and Environmental Impacts. Economic thoughts and Environment.. S. Urbanization and environmental issues. eds. Basic Needs. London/New York. and Srinivasen. (1960).Oxford University Press. Aslam and Hamid. Amsterdam (1988. McGraw Hills. Economic Development. Islamabad. London/New York.. production and need for Reforms. B. Introduction to Development Economics. Annual Reports. (2004). 21 . Lahore. M. (Latest Edition). O. Human Resource Development and Management in Pakistan. Pakistan. vol. (2004). Routledge. Market Based Approach and Externalities. Human Development in South Asia. McMillan. A Profile of Poverty In Pakistan. Cypher J. Cost of Pollutions/Environmental degradation. Hirshman A. Economic Growth and Environment Model of Environment and Economic Activity. Jones H. (2003).. Chaudhary M. Chenery H. Strategy of Economic Development. and Dietz James L.. A. Ecology and economic progress. Meier Gerald M.. Deforestation and Macroeconomic Environment. Deforestation and Renewable Resources. Herrick B. London. Redistribution with growth. Yale University.. (In Collaboration with UNDP). I & II. Aslam and Eatzaz. Press. How to combat income inequality.poverty. North Holland. Ferozsons. Hand Book of Development Economics. (Latest Issue). International Agencies: Environmental concerns and programs. A.). Current Issues in Development Economics. Ferozsons. Measuring environment values. International awareness about environment. and Lall. An Introduction to Modern Theories of Economic Growth. Leading Issues in Economic Development. Taylor and Francis Group. New York.). Routledge. McMillan . (latest eds. Globalization: WTO. (Latest eds. Mahboob-ul-Haq Center for Human Development (MHCHD). The Process of Economic Development. Ghatak Subarta. Recommended Books • • • • • • • • • • • • Balasubramanyam V. Chaudhary M. Industrialization and its environmental cost. G. Natural resources degradation. Trade and Economic Liberalization in Pakistan. Lahore. and Kindleberger C. ------------(1999).. Tayl or Francis Group.

• • • • • • • Thirlwall. A Case Study of Pakistan. In particular. Latest Edition. 1992. 1998/99. World Development Reports. 1987. Yotopolous Pan A. Empirical Investigation (Latest eds. 1990. In addition to diagrammatic approach. William. 2000/2001 and 2004. Easterly. Course Contents Introduction The Keynesian revolution and growth of Macroeconomics. (2003). Palgrave Publisher.* McGraw Hills. With Special Reference to Developing Economies 7th edition. UNDP. Harper and Row Publishers.. Exogenous and 22 . Analytical approach to macroeconomics. ECON 208 Intermediate Macro Economics Pre-requisite ECON 102 Principles of Micro Economics Objectives The objective of the course is to clarify and extend further the concepts of macroeconomics so as they develop the capacity to understand the issues and problems of the economy in a global scenario. Economic Development in the third World. World Bank. Actual vs. they have to capture the nature and scope of various public policies. Potential Output. Oken’s Law and unemployment. 1995. Todaro M. Economics of Development.). 3Cr. Growth without Development. Lead and Lagged variables. Van Den Berg H. London. 1994. the students are confronted to simple mathematical and numerical analysis. and Nugent Jeffery B. They have to read and understand the Economic Survey and Annual Reports of the State Bank of Pakistan. Growth and Development.. Hrs. The students may be given assignments to collect information about various aspects of the economy. The simple macroeconomic models. A. London/New York. World Bank. They may be asked to discuss the Federal and Provincial Budgets and to analyze the framework. Price Indices and Inflation. (2001). P. Annual Reports. Human Development Reports . Heinemann. Annual reports. Economic Growth and Development.P... 1991. 1986. The teacher is expected to draw examples from the surrounding world for exposition.

Problems in computation of national income. Lags in Investment Demand. The GDP deflator.Endogenous variables and their functional relationships. Domestic Absorption. The Liquidity Preference/ Portfolio Balance Approach. Per capita income. 23 . The money supply multiplier and the role of banking system. Nominal and Real income. Components of Aggregate Demand: The closed and open economy models. The underground economy. M2. Real and Financial investment. Exports and Imports. Derivation of LM Curve (graphic). The supply of money: M1. The Quantity Theory of money. Factors affecting the position and slope of the LM curve. Determination of National Income The Keynesian model for a simple two-sector economy. Investment Demand and capital formation. The Demand for and Supply of Money The demand for money. Measurement of GNP: Expenditure (demand). Factors affecting the position and slope of the IS curve. Autonomous and Induced investment. Interaction of the IS and LM functions and derivation of the aggregate demand function. inflationary and deflationary gaps. Investment by the Public sector. Equilibrium in the goods market. Kuznet’s findings and Reconciliation of Marginal and Average Propensity to Consume. Instruments of credit control and the role of central bank. IRR and benefit-cost ratio Criteria. Injections into and Leakages from the economy: Saving and Investment. Measurement of National Income The circular flow of National Income. Relative income. The impact of changes in public expenditure. The concepts of multiplier. Saving and Investment Definition of Investment. Equilibrium of the money market. Product (supply) and Income (factor rewards) approach. GDP and GNP. The Saving-Investment gap in developing countries. Permanent income and Life-cycle income hypotheses. Introduction to the Classical and Keynesian Schools of Thought. Tobin’s Q-Theory. Determinants of investment: The Present Value. GNP as measure of welfare. taxation and money supply on aggregate demand and the rate of interest. Value added at factor cost and market prices. Derivation of IS curve (graphic). Volatility of Investment. M3 concepts. Theories of Consumption: The Absolute income. Personal and disposable income. Theories of Consumption Consumption as a function of income.

The concepts of full-employment and underemployment. Annual reports of the State Bank of Pakistan. Interaction of aggregate demand and supply and price determination. Structure and Characteristics of Agriculture in LDCs Traditional Agriculture and Productivity. NY. Worth Publishers. causes and measurement of inflation. Blanchard.Aggregate Supply and the Labour Market The aggregate production function. Inflation and Unemployment Types. The relationship between inflation and unemployment. The short-run aggregate supply function. Current State of Agricultural Development. Access to non-labor resources.Macroeconomics -6th Edition (2007). Labor market and its Equilibrium: The flexible and sticky wage models. 24 . The imperfect information model. Edward – Macroeconomic Analysis. Importance of Agriculture. Remedial measures to combat inflation and unemployment. Richard–Macroeconomics: Theories and Policies–7th Edition (2002) – Macmillan Mankiw. Industrial development Debate.9th Edition (2004) McGraw Hill Inc. The structural and monetary approaches to inflation. Phillips curve in the short-run and long-run. Pakistan Economic Survey (latest). Global inflation and its impacts on developing economies. Gregory N. Demand for Labor in the short run. ECON 210 Agriculture Economics Course Contents Introduction and Importance of Agriculture Agricultural Revolution. Recommended Books • • • • • • • Shapiro. 3 C r. Federal and Provincial Budgets (latest). Supply shocks and stabilization. Introduction to issues in Agriculture etc.. Dornbusch & Fisher – Macroeconomics. Food Safety. Froyen.7th Edition (2000) – Harcourt Brace Inc. Oliver – Macroeconomics -2nd Edition (2000)Prentice Hall International. The problem of unemployment with special reference to Pakistan. Agriculture vs. Brief Overview of Sources of Growth. Transitory and structural unemployment. H rs .

Some Criticisms of Krishna’s Method and the Alternative Approach of Behrman Perennial Crops and Marketed Surplus in Pakistan. Kelley. Foreign Exchange Contribution. Agricultural Surplus. Price-Supply Response in Backward Agriculture. The Theory of Share Tenancy. Technological Change in Agriculture. Theory of Rent and the Concept of ‘Surplus’ Introduction.The Framing Environment: Natural Hazards and Economic Uncertainties. Specifically in Pakistan. Resource Use Efficiency and Technical Change in Peasant Agriculture. Characteristics of Landownership in Underdeveloped Agriculture and Pakistan. Williamson. The Concept of ‘ Marketed Surplus’: Some Methods of Estimation. The Theory of Rent. Supply Response Introduction. Agricultural Resources and Technical Change in LDCs: with Special Reference to Pakistan. Role of Agriculture in Economic Development A framework of Analysis. Industry Debate of Development. Agricultural Adequacy. The Jorgenson Model. Rent and Quasi-Rent The Ricardian ‘Corn Rent. The Ranis-Fei (FR) Model. Product Contribution. Agriculture in Dualistic Development Models Introduction. Impact of Agricultural Reforms on Farm Size. The Cobweb Model: An Illustration. Mellor’s Model. Factor’s Contribution. Agricultural Technical Change and Agricultural Employment: Empirical Evidences. Supply Response in the Underdeveloped Agricultural labour Market. Market Contribution. Tenant’s Status in Pakistan. Farm Size in Pakistan and Productivity Commercial Farms. Generation of new Agricultural Technology. Efficiency of Resource Utilization. Factor-biased Technological Change and its Distributional Consequences. Criticism : Dual Economy Models. Present Status of Green Revolution in Pakistan: Empirical Analysis. Some Extensions of the Share Tenancy Model. A simple Supply Response Model. Green Revolution in Pakistan and Responses. Agriculture vs. Cheetham Model. 25 . The Food problem. Farm Size and Productivity. Agricultural productivity in Pakistan and use of inputs. The Lewis Model. Economic Rent. The Rental Market.

Karamat. Harvester Press. The Economics of Green Revolution in Pakistan.. Upton Marlin. (1989). Political Economy of Rural Development in Pakistan. New York. Pricing of Farm Produce in Pakistan. Malnutrition in Developing Countries like Pakistan and Remedial Manners. John Hopkin University Press. (Latest edition). Published 1975. ECON 301 Micro Economics 3 C r. 1971. Print Associates International. Agriculture and Economic Development. The Economics of Agriculture. Colman D.. Agricultural Production and Resource Use. Lester. Ghatak S.. Izhar Sons. The Greogie Endownment for International Peace. 1981. The Social Impact of Green Revolution. Agricultural Development and Public Policies. H rs .. Chaudhary M. (1995). Economic Strategies in late Developing Countries. Contra-Malthusian Model. and Young T. Principals of Agricultural Economics. A. New York. latest edition. Bruce. Agricultural Development. Aslam. (Latest Edition). Recommended Books • • • • • • • • • • • • Brown. Cambridge University Press. Islamabad. Capstick Margret. Markets and Prices in Less Developed Countries. Pre-requisite ECON 202 Intermediate Micro Economics 26 . Lahore Vanguard Book House. and Ingersent K. Thorbake Erike.. Lahore. Columbia University Press (1971). Agricultural Project Planning. Objectives. Synthesis of Population and Food Supply Theories. (1989). The Role of Agriculture in Economic Development. Ecological Disequilibrium. London George Allen Unwin Ltd. F & Fellir Kily. Practices. and Experiences. Johnston. London. Khan Mahmood-ul-Hassan. Choice of Planning Strategy for Agriculture Development.Population and Food Supplies The Classical Model.. Shafi M. New York. Yujiro Hayami and Vernon W. Agricultural and Structural Transformation. Ruttan.

Objectives The course is designed for senior undergraduates. Course Contents The Theory of Consumption and Demand Axioms of Rational Behaviour. the teacher is expected to draw examples from the surrounding world for exposition. The iso-quant and its slope. The cost function in relation to production function. The students may be given frequent assignments and exercises from the texts. Inferior and Giffen goods. Clarification of the concepts by using Cobb-Douglas and CES utility functions. Utility maximization and ordinary (Marshallian) demand functions. Relationship between Average and Marginal cost functions. Homogeneity of demand functions. Euler’s relation and demand elasticities. Gross and net substitutes. The short-run marginal cost and supply function. The Slutsky Equation: derivation and interpretation. Properties of Cobb-Douglas and CES production functions. which may be discussed by the teacher in the class after submission. The role of technical progress and shifting of production function overtime. As usual. Classification of goods: Normal. Expansion path and returns to scales. Demand for variable factors. The students should be motivated to use computer for solving the assignments. The inter-relationship between ordinary and compensated demands. The Theory of Production and Supply The Production function: components. Relationship between marginal revenue and marginal cost functions. Cost minimization and compensated (Hicksian) demand functions. They have to develop the analytical skills and to enhance the capabilities to solve somewhat complicated problems. Impact of a price change on demand. The utility function and budget line. The indirect utility function and expenditure function. The objective is to confront them to advanced theoretical concepts and rigorous analysis with mathematical tools at hand. Relationship between the short-run and long-run average cost functions. Elasticity of substitution. The marginal rate of technical substitution. different forms. Elasticity of Demand. Engel’s Law and income elasticity. Constrained optimization and the Lagrange function. Bifurcation of the price effect into income and substitution effects. Diminishing MRTS and convexity of iso-quant. Equilibrium of the firm in the short and long run. 27 .

The multinational corporations. Introduction to: Game theory and strategic behaviour. Natural monopolies and the global markets. two sectors/ commodities. The economic cost of imperfect competition. Efficiency of competitive market.(1978) – McGraw Hill Book Company.8th Edition (2002) or latest -Thomson & Learning Inc. Elasticity of demand and Lerner index of market power. Conditions of allocative efficiency: consumption. intervention in the market: price and quantity restriction and impact of taxation on price and consumer’s surplus. Govt. Duopololy and Oligopoly. Recommended Books • • • • • • • Nicholson.Microeconomic Theory: Basic Principles and Extensions. Introduction to computation of general equilibrium in a 2x2x2 (two consumers. Henderson & Quandt .Addison Wesley Longman.The Structure of Economics: A Mathematical Analysis.Microeconomic Theory: A Mathematical Approach3rd Edition (1980)– McGraw Hill International Silberberg. Theorems of optimality/welfare. two factors) economy. E. Partial versus general equilibrium. Two sector economy (consumption and production). The efficiency of competitive market system. 28 . Inc. Equity and efficiency trade off. Jeffrey – Microeconomics – (1999) . Factors responsible for shifting of demand and supply functions overtime and impact on price. & Suen. Pindyck & Rubinfeld – Microeconomics. Monopolistic competition. W. production and product mix. The pure exchange economy. Market with uncertainty and imperfect information. Perloff.. The imperfect competition: Monopoly and Monopsony.Market Structures and Price Determination Critical appraisal of the competitive market assumptions. Production possibility frontier and Social indifference curve. The case of public utilities and marginal cost pricing.6th Edition (2004) – Pearson Education Asia.3rd Edition (2001) – McGraw Hill International Layard & Walters – Microeconomic Theory. Walter . General Equilibrium and Welfare Economics The concept of efficiency and welfare. Diagrammatic approach: The Edgworth Box.

Application of Statistical techniques to Economic data. test statistics. Estimation. The least squares principle. Dummy variables. The students should be in a position to apply statistical methods to data via simple mathematical models and to interpret the results by using economic theory. Economic theory as the basis for empirical analysis. 29 . Ingredients of Econometric modeling: Specification. The Classical Linear Regression Model (CLRM) (a) The Simple Two-Variables Model Variables and parameters. Meaning of the explained and explanatory variables. Correlation and Regression theory. Mathematical versus econometric model. Estimation through the origin. correlation coefficient: comparing regression and correlation theory. Course Contents Introduction Definition and scope of Econometrics. Hypothesis testing and the use of Z. Estimators and estimates. Structure of the linear econometric model with two explanatory variables. Assumptions of the model with special reference to the disturbance term. The teacher should expose the students to the use of computer in solving simple econometric problems and assignments. The confidence interval and tests of significance approaches. Objectives The course is designed to enable the students derive relationship between economic variables from the available data. BLUE properties of the OLS estimators. The economic interpretation of the estimated coefficients. The estimation procedure. Important features of a good forecast. t. Rationale for inclusion of the disturbance term. Extensions of the model: Time as explanatory variable. F. Mathematical and Econometric models. Evaluation and Forecasting. Coefficient of determination vs. The students are encouraged to learn the use of simple computer programs and econometric packages in handling data and to understand the print outs. The explanatory power of the model. Econometric forecasting and confidence interval for the dependent variable against future value of the independent variable.ECON 302 Econometrics I 3 C r. The ANOVA technique. H rs .

(b) The Multiple Linear Regression Model (MLRM) The general format of MLR model. Consequences for OLS estimators. Detection of the problem and remedial measures. The Indirect Least Squares (ILS). (iii) Autocorrelation Autocorrelation and its causes. 30 . Estimation of model with 3-4 explanatory variables using the OLS procedure. Brief introduction to the nature of problems and alternatives. Overall significance of the regression and the use of F-statistics. Nature and severity of the problem. Formal rules for identification: The Order and Rank conditions. The degree of freedom and adjusted R2. The AR(1) process. (i) Multicollinearity Linear relationship between any two explanatory variables. Assumptions of model with special reference to independence of the explanatory variable. Consequences of Autocorrelation for OLS estimators. Distinction between perfect and partial Multicollinearity. Hypothesis testing in MLR. Time-series data and emergence of the problem with reference to economic theory.The Instrumental Variables and Two-Stage Least Square(2-SLS). Detection of the problem and remedial measures in brief. Various types and general format of simultaneous equations models. Deviation from the Classical Assumptions Assumptions of the classical model and economic reality. Interpretation of the estimated coefficients. (ii) Heteroskedasticity Meaning of Heteroskedasticity. The identification problem. Exogenous Endogenous variables. Properties of OLS estimators in the presence of collinearity. The simultaneous equations bias. Cross-section data and the problem of non-constant variances. Relaxation of the assumptions and estimation issues. The explanatory power of the model and ‘Goodness of Fit’. The Simultaneous Equations Models Why Simultaneous Equations Models: Deviation from the classical assumptions. The structural and reduced-form models. The nature of the problem with reference to economic theory. Computation of elasticities. Detection of the problem and remedial measures in brief. Economic theory and econometric modeling. Introduction to the Generalized Least-Squares model (GLS).

3 C r. Explaining properties of economic parameters like elasticity. New York. Linear and non-linear functions: quadratic.. H rs . – Econometrics (1988) . the students of economics have to learn and apply mathematics along side their theoretical underpinnings. Mere logical reasoning and diagrammatic approach is perhaps not sufficient.S. polynomial. As such. ECON 303 Mathematical Economics I Objectives The course is designed to enable the students use mathematical tools in clarifying their economic concepts and solving problems. particularly in economics.. logarithms & exponential. This is true for positive economics in particular. non-algebraic.J.3rd Edition (1992).Econometric Models & Economic Forecasts.Basic Econometrics – 4th Edition (2003).McGraw Hill Company. rational.Theory of Econometrics .McGraw Hill Company. Course Contents The Nature of Mathematical Economics Pure and applied mathematics.McGraw Hill Inc. G. . Maddala. Functions of more than two 31 . Verification of hypotheses and the use of mathematical models. Christopher – Introduction to Econometrics – 2nd edition (2002) Oxford University Press. Parameters and variables (dependent and independent). Mathematical Support: Expression of theory in functional form. This is because economic analysis requires extensive use of mathematics in the present day world of complexity. Koutsoyiannis. propensity to consume etc. Wonnacot & Wonnacot –Econometrics – 2nd Edition (1970)-John Wiley. circular. Dougherty.Recommended Books • • • • • • • Gujrati. Pindyck & Rubinfeld. The use of mathematical tools in social sciences. Rules of logarithms and exponents. D. Types of functions: constant. Homework: The students may be given assignments and exercises from the texts and weekly or fortnight class tests including MCQ's and confronted to extensive practice.2nd Edition (1977) McMillan. Economic theory (logical argument) as description of some kind of relationship between variables. A.

Total differentials & total derivatives. Conditions for non singularity of a matrix.independent variables. Laws of matrix operations: addition/subtraction. inverse function rule. Price discrimination and monopoly. idempotent. Properties of inverse of a matrix. Minors and cofactors. Partial and general equilibrium analysis. Determination of price and quantity. Ad-joint and inverse of a matrix. Functions of one variable and rules of differentiation: Sum-difference. Free and Constrained optimization. Lagrange function: Profit maximization and cost minimization under perfect competition and monopoly. Profit maximization by a multi-product and multiplant firms. Implicit functions rule. Maximizing excise tax revenue in monopolistic competitive market. and the normal equations of the Least-Squares econometric model via matrix approach. Differentiation The concept of derivations. Equilibrium Analysis Equation of a straight line: Intercept and Slope parameters and their economic interpretation. The importance and limitations of mathematical models. Optimization by using 32 . point of inflection. differentiation of logarithmic & exponential functions. Combinations of rules. Partial differentiation & its rules. scalar and vector multiplication. product and quotient rules. Single and Simultaneous equation models. Demand. Solution of linear equations: the Gaussian method. Optimizing cubic functions. Optimization of unconstrained functions and their economic applications. Partial and Substitution elasticities. Concept of maxima & minima. Cost and Supply functions. Calculation of elasticities at equilibrium. Types of matrices: Square. power function rule. National Income determination: Closed economy with goods and money markets. Economic Applications of Differential Calculus Analysis of Utility. Higher order derivatives. The effect of an excise tax on market equilibrium. Hessian and Jacobian determinants. the Cramer’s rule and Inverse matrix method. Comparative static analysis: Partial equilibrium market model. national income models. Production. diagonal. Determinant & its properties. First and second derivative tests. Examples from market models: Demand and supply equations. National Income model. chain rule. null. transpose and their properties. identity. Higher order & cross partial derivatives (Young’s theorem). Linear Models and Matrix Algebra Simultaneous equations models and the use of matrices. Economic applications: Solution of market models. Graphs of various functions.

McGraw Hill Publishing Company.Fundamental Methods of Mathematical Economics – 3rd Edition (1984) .Mathematical Analysis: Business and Economic Applications. Economic Survey. Alvery et al – Essentials of Mathematics with Business Applications5th Edition (1995) .3rd Edition (2001) – McGraw Hill Publishing Company. 3 C r. • • • • • • • ECON 307 Macro Economics Objectives The course is designed for senior level undergraduate students. Colin. The objective is to enhance their analytical skills and to clarify further their macroeconomic concepts with quantitative tools at hand. Schaum's Outline Series.Cobb.Applied Mathematics for Business. Linear Programming Ingredients of linear Programming. Simplex method.(Latest Edition) -Harper and Row Publishers.McGraw Hill Publishing Company. Recommended Books • Chiang. Duality theorems. They must have a strong theoretical foundation so as to understand the real problems of the economy with particular emphasis on inflation. Economic interpretation of a dual. The students should be motivated to use computer for solving the assignments. Dowling E. reports of the State Bank as well as from articles appearing in the press. Glass – An Introduction to Mathematical Methods in Economics. Jean .McGraw Hill Publishing Company. instability. Economics and Social Sciences.Mathematics for Economists. to which the developing countries are confronted at present. A.(Latest Edition) .4th Edition (1993) or latest – McGraw Hill Publishing Company. 33 . George. Budnick . H rs . Frank. Solving of Primal via dual.Douglas. Homework: The students may be given frequent assignments and exercises from the texts. unemployment. T. Weber E. deficit and debt etc. CES and Translog functions with interpretation of the results.. C. New York. . Concept of primal & dual. Economic application of linear programming. Graphical approach.

Course Contents
Macroeconomics: The Classical Framework Ingredients of the Classical model: The Says law of markets, The Quantity theory of money, The Marginal Productivity theory, Equilibrium in the goods and money markets, A critical appraisal of the Classical model, Dichotomy in the economy. The Demand Management Economy The Keynesian framework, Characteristics of a depression economy, Innovations due to Keynes: The consumption function, The liquidity preference function, Wage rigidity in the labour market, The ISLM model, Mathematical derivation of the IS and LM functions, The interaction of the goods and money markets in a closed economy, The role of public sector investment, The multiplier effects of fiscal and monetary actions, Derivation of the aggregate demand curve/function, Stabilization and the relative effectiveness of fiscal and monetary policies, The Neoclassical critique of the Keynesian model: the Keynes effect, the Pigou effect, the Real Balances effect, The Keynesian-Neoclassical Synthesis. The Supply Side Economics Demand for and Supply of Labour, The wage rate determination, Rigidity versus flexibility of nominal wage rate, The short-run Production function, Derivation of Aggregate Supply under the Classical and Keynesian assumptions, The notions of full-employment and under-employment, Scarcity of raw material and energy, The supply side disturbances leading to stagflation, The problems of developing countries: shortage of supply vs. deficiency of demand, The scope for structural changes (instead of fine tuning) in developing economies. The Open Economy Macroeconomics Balance of Payments: Current and Capital account, The IS-LM-FB model due to Mundell and Fleming, The case of a small open economy with special reference to developing economies, The relative effectiveness of Fiscal and Monetary policies under the Fixed and Floating exchange rate regimes, The Managed exchange rates system, Determinants of the Exchange Rates, Devaluation and its impacts for developing countries, Perfect and imperfect capital mobility, Problems of stabilization in a global framework.. Macroeconomic Policy Debate Policy Actions: Active or Passive, Ignorance, Expectations and the Lucas Critique, Conduct of Policy: Formula/Rule vs. Discretion, Distrust of Policy makers and Political Process, Macroeconomics Policy: the Fiscal, Monetary and Commercial policies, Policy formulation and 34

implementation in a world of uncertainty, Seignorage and Inflation: Monetarists vs. Activists, the short-run and long-run analysis of the Phillips Curve, The expectation-augmented Phillips Curve, The Perfect Foresight and adjustment. Growth and Business Cycles The accumulation of capital, Acceleration principle and the concept of steady state growth path, The steady state conditions, The basic Neoclassical (Solow) growth model, Golden rule for consumption and investment (capital accumulation), The role of technical progress in growth, Introduction to the theory of Real Business Cycles: Interpretation, Labor market, Technology shocks, Household Behaviour, the persistence of output Fluctuations, Limitations of the Model.

Recommended Books
• • • • • • • • •

Branson, Willium – Macroeconomics: Theory and Policy – 3rd Edition (1989) or latest Harper and Row, New York. Froyen, Richard–Macroeconomics: Theories and Policies – 7th Edition (2002) Prentice Hall Gupta, G.S.- Macroeconomics: Theory and Applications- 2nd Edition (2004) Tata McGraw Hill Publishing Company, New Delhi Scarth, Willium,M – Macroeconomics: An Introduction to Advanced methods2nd Edition (1996)- Dryden Press: Harcourt Brace & Company. Romer, David - Advanced Macroeconomics -(2001)- McGraw Hills, New York. Mankiw, Gregory- Macroeconomics- 5th Edition (2003)- Worth Publisher, New York. 3 Cr.Hrs.

ECON 308 Econometrics II

The course is designed for senior undergraduates more inclined towards quantitative studies. The objective is to enable the students dive deep into complex problems of the real world economic life. They have to understand data problems, to have good grasp over advanced estimation techniques and to have the capability of inferring results accurately. The students have to learn certain computer packages like SPSS, E-views and Strata besides Excel.


Laboratory work: The students are required to devote at least one hour per week to computer laboratory. They have to develop the capacity to read and understand papers that appear in research journals.

Course Contents
Overview of the Classical Regression Model The multiple regression (K-variable) model in matrix format, Assumptions of the model, The Least-Squares estimation procedure in matrix notation, Properties of the OLS estimators, Interpretation of the Beta coefficients (β1, β2,…., βk), Hypothesis testing using matrix approach, Forecasting in OLS model, Time as an explanatory variable, Regression on Dummy variables, Dummy variable trap, Chow test, Specification bias and Errors in variables, Estimation with endogenous lagged variables, Restricted Least Squares, The Generalized Least-Squares Model Deviation from the assumptions of the classical regression model, The problem of heteroskedasticity, The GLS model in matrix format, Detection of the problem and consistent estimators, The problem of autocorrelation: Autoregressive and Moving Average processes, The Durbin-Watson statistics, Alternative estimation techniques. The Maximum Likelihood Estimators The likelihood function, Properties of ML estimators: consistency, Asymptotic normality, efficiency, Comparison with OLS estimators, Instrumental variable (IV) estimators Time Series Analysis Rationale for univariate analysis, ARMA and ARIMA Models, Comparison of forecast based on ARIMA and regression models, Stationarity, Unit roots, co-integration and error correction models, Introduction to Autoregressive Distributed Lag models, ARCH models

Recommended Books
• • • • •

Johnston, J & John Dinardo- Econometric Methods – 4th Edition (1997) The McGraw Hill Companies, Inc, Singapore. Intrilligator, M - Econometric Models: Techniques and Applications- N. J. Prentice Hall, (Latest). Judge, George G. et al - The Theory and Practice of Econometrics- (1988) John Willey and Sons. Maddala, G.S. & Kim –Unit Roots, Co-integration and Structural Change -(1998) 36

Johnston. Improper integrals. types of time paths and the dynamic stability of equilibrium.Elements of Econometrics . Present value of cash flow. Rules of Integrations and Operation: Substitution Rule. The Nature of Indefinite Integrals. Integration by parts. Differential Equations (i) First Order Linear Differential Equations Meaning and Definition. J. with variable coefficient and variable terms. Hrs. Definite Integrals and Area under a curve.Econometric Mothods – 3rd Edition (1991)McGraw Hill Company Kamenta. ECON 309 Mathematical Economics II Objectives Objectives: The course is designed for senior undergraduates more interested in quantitative economics.2nd Edition. Bernoulli Equation. Homogenous & non-Homogenous cases. The students may be given assignments and exercises from the texts and weekly or fortnight class tests and quizzes including MCQ's. The Domar growth model. . The objective is to confront the students to advanced mathematical techniques so as to enable them handle economic models. Eular and Maclaurin series. Non-linear differential equations of the first order and first degree. of a Perpetual Flow. (1971) – Macmillan 3Cr. 37 . interpret the results and solve complex problems. Course Contents Complex Number and Circular Functions Imaginary and Complex Numbers. Qualitative approach: Concept of phase diagrams. Economic Applications of Integrals: Finding total functions from marginal functions. Definite integrals and their properties. Solution of first order linear differential equations: with constant coefficient & constant term. Circular Functions. Exact differential equations: Solution and Verification.• • • Cambridge University Press. J. Properties of Sine & Cosine functions. Integral Calculus Comparative Dynamics and Integration.V. P. Investment & capital formation.. Complex Roots. Alternative representation of Complex Numbers.

Model with price ceiling. Recommended Books • Chiang A. Dynamic stability of equilibrium. Solution of simultaneous difference equations. Higher order differential equations. The convergence and divergence of the time paths. (ii) Higher Order Difference Equations Solution and verification of second-order linear difference equations with constant coefficients and constant terms. The Interaction of inflation and unemployment in continuous time. Higher order difference equations and their solutions. Distinct. Non-Linear Programming The nature of non-linear programming. Economic Application: Dynamics of market models. First order linear difference equations: Solution and verification of results. The Multiplier-Acceleration interaction model. repeated and complex roots. The qualitative/graphic approach and phase diagrams.Separable Variables. Conditions for dynamic stability of equilibrium. Difference Equations (i) First Order Difference Equations Meaning and definition. Distinct. Convergence and the Schur's theorem. Economic applications: The Cobweb model. Least-cost combination. Economic applications: Models of business cycles.C and Kevin Wainwright . Nonlinear difference equations. Non-linearities in Economics. The Kuhn-Tucker Sufficiency theorem: Concave programming. Solution of simultaneous difference equations. The Arrow-Enthoven Sufficiency theorem: Quasi-concave programming. Real and imaginary roots. Market model with inventory. repeated roots and complex roots.4th Edition (2005) McGraw Hill Publishing Company. Economic applications: Utility maximization. Convergence and the Routh theorem.Fundamental Methods of Mathematical Economics. Real and imaginary roots. inflation-unemployment model in discrete time. Solow growth model. Economic applications: Market models with price expectations. Types of time paths. Kuhn-Tucker conditions and their interpretation. (ii) Higher Order Differential Equations Solution and Verification of second order linear differential equations with constant coefficients and constant terms. 38 .

Impacts of Rise in Exports Demand. Absolute Advantage. Growth and Trade International Trade and Shift in Production Function.Cambridge University Press. The Elasticity of Exports Demand and Balance of Payment. Costs.O. The Transfer Problem: Marshall Plan and Transfers. Harper and Row Publishers. Business and Economic Application (latest edition). WTO and Gains from Technical Progress: Impacts on Prices. Mathematical Analysis. ECON 401 International Trade Theory Objectives To teach the theories of I Trade to interrelate other branches of economics Course Contents Importance and Bases of Trade Why Study International Economics? The Changing World and Interdependence: Basis of Trade. Netherlands. Increasing Opportunity 39 . National and World Gains from Trade. Gains from Trade. Output Growth and Terms of Trade (T. Comparative Advantage. Disagreements on Free Trade: Overview of Emergency of International Trade Issues. World Production and Gains.• • • • • • Gandalfo. Jean.Addison & Wesley Publishers. Hoy M. . 3 C r.(1997). H rs . Technical Progress and International Gains.O. R – Economic Dynamics: Phase Diagrams and their Economic Applications. Stengos T. Substitution and Income Effects. Equilibrium Production and Consumption: Non-traded and Tradable.. Weber E. G – Economic Dynamics: Methods and Models – (1983 or Latest Edition) North Holland Publishing Company Dowling Edward T. Shone. Offer Curves and Free Trade Equilibrium. -Mathematics for Economics: Schaum Series – (1981). International Wage differentials and Productivity. Marginal Physical Product and Production Possibilities.T.T) / Deterioration: Uniform Growth at given T.Mathematic for Economics – (1996) . Overview of Comparative Advantage and Pattern of Trade. Rees R. Livermois J. Transfer of Resources: Neutral Case. Technology and Factor Endowment Ricardian Trade Model. Immerizing Growth. Comparative Cost and Trade Pattern. Production Possibilities with Diminishing Returns.

Terms of Trade Issue. Dumping / Discrimination and WTO.O Theorem. Is there need to Reform International Institutions? Monetary Integration and Their Impacts. Relative Demand. Skill and other Gains. Success and Failure of WTO Agenda.O. Competitiveness and Market Share. Cartels and International Trade Monopoly and Import Competition. Impacts of Tariff on Government Revenue. Markets. WTO Rules: Sanitary.Ohlin (H. Critical Analysis of Traditional Trade Theories. Impact of Tariff on Domestic and World Welfare. Dutch Disease and its application. Trade Diversion and Preferential Arrangements. Voluntary Quota. Tariff.P Support. Heckscher.T Production and Welfare. Tariff and B. Factor’s Prices and Commodity Prices. Tariff and Second Best Choice. The Role of Demand. The Optimal Tariff. Anti-dumping Duties. Voluntary Export Restrictions and Their Impacts. Trade Policies and WTO Tariff and Small Country: Effects of Tariff. WTO: Injury.O.Cost. Quota. T. Free Trade and Income Distribution. Major Contemporary International Economic Issues: WTO: GATT and Emergency of WTO. Rybescky Theorem and its critical review. WTO and Fair Trade / Free Trade.P Deficit. Tariff and Distribution of Income. Welfare impacts.O. Phytosanitary. Newly Industrializing Countries (NIC’s) and Footloose Production Process. Product Differentiation and Monopolistic Competition. Gains from Migration. Transfer of Capital. WTO and Factor’s Movements and the Commodity Movement. and Factor Intensity Reversal.O) Model. Dumping. Blocks. NIC’s and H. Factor Intensity Comparison. Factor Endowment and Heckscher – Ohlin Theory Output and Factors Rewards in 2*2 Model. Growth with Protection vs. Anti-Dumping etc Rules and Emerging New Issues and Their Impacts. Technology. Multinationals Firms and Foreign Direct Investment. Issues relating to the Contributions of International Financial Institutions and Their Evaluations. Why necessary to Join WTO? WTO: Major Trade Rules and Their Expected Impacts on Trade. Brief Introduction of Tariff and WTO Laws. Export Opportunities. B. 40 . Free Trade will it be? Issue of “Are Free Trade Gains more than Restricted Trade”? Emerging Regional Trading. The Product Cycle. Price and Demand for Imports. Managed Trade. Subsidies and Quota. Quantitative Restrictions. Special Preference and their Impacts. Supply and Pattern of Trade. Factor Price Equalization. Free Trade Gains and WTO. Transfer of Resources and Transfer Problem.

Field Research Designs. Oxford University Press. Measurement. theory and estimation and related problems. Scaling. International Economics. the Nature of Sampling. Grubel Herbert C. New York.. Krugman and Obstfeld. Toront. International Economics (Latest Edition). Data Collection Methods. • • • • • • • • • ECON 402 Research Methodology Course Contents Importance of Research Methodologies. Little. (Latest Edition) Richard D. Measurement and Scaling. Sodersten B. (1986). Latest edition. Sample Design.. Addison Willey (1998). H rs .Recommended Books • • Caves Richard. Lexington Books. the process of field research. and Jones Ronald W. Theory and basis of research. Vision survey and communication techniques. Peter Holinder & Thomas A. Exploratory Research. New York. MacMillan Press Ltd. Empirical and theoretical research. Measurement Scales. Methods of communication in survey. 1986. the Development of Measurement Tools. International Economics: Theory and Policy.. Irwin Inc. Scale Construction. the Characteristics of Sound Measurement. Multinational Corporations: The Political Economy of Foreign Direct Investment.. London. World Bank. Oxford. (1994).. Preparation of Research Proposal Questionnaire... Donomick Sal Vatore B. Boston. E. Baldwin Robert L. Latest edition. Latest edition. The Global Competitiveness. (1985). International Trade and Finance. Little Brown and Company. World Development Report.. Identification of problem/issue. World Trade and Payments: An Introduction. Latest edition. Prentice Hal. Toronto. Massachusetts.. Research techniques in social sciences and their limitations. Illinois. Latest Editions. International Economics.. Boston. Miltiades. Casual Inference. Toronto. Thinking. the Nature of Scaling. Honewood. Pugel. Stages of research process. McGraw Hill Book Company. Report 1999. Brown and Company. Art of asking questions and getting quality information. Latest edition. and Richardson David J. World Economic Forum. data. Moran Theodore H.. International Trade Theory and Policy (Latest Edition). and Geoffry Read. 3 C r. Oxford University Press. International Economics. Survey Instruments and 41 . Response Methods. Chacholiades.

Choice of Research Technique. the Use of Secondary Data. Johnson.Field Procedures.. A Skill Building Approach. Herifaq Publishers. Lawrence. Statistical Sources. Neuman W. Data collection. Holt. Tabulation. the Nature of Secondary Data Sources. Experimentation and Simulations. Static and Dynamic Optimization. Scientific Social Survey and Research. Organization of Research Paper. Allyn and Bacon. Observation. Observation. (1994).. (latest edition). Sckaran Business Research Methods Uma. observations. Research Report Format. Recommended Books • • • • • • • • • • Birchenhall C. Observation Designs. Experimentation and Simulation. Zikmund William. Sekarn. Special Data Problem.. P. 42 . Writing and editing of research Report. Inc. Research Methods in Social Relations. How to format and Write country Research Report. (1985) Advanced Mathematics for Economists. Boston. (1992). John Willey & Sons. Telephone Interviewing. The Research Report. Evaluation of Research Work. (1997) Social Research Methods. Experimental Research Design. Conclusion and its basis.. Prentice Hall Inc. Tokyo (Latest edition). Basil Black Well. Business Research Methods. Questionnaire Development. and Data Analysis. McMillan Publishing Co. Glenew Research Methodology for Economists: Philosophy and Practice. Holt-Sounders Japan Ltd. the Instrument Development Process. Report Writing. Field Procedures. the Questions and analysis of Research Proposal. New Delhi. the Survey Situations. Executive summary and abstract of a report. Personal Interviewing. G. Survey Instrument Designs. Mathematics for Modern Economics. Interviewing by mail. Rinehart and Winston. Types of Secondary Data Sources. Vision Survey: Interpretation of Replies. Data Presentation. Data Preparation. Evaluating Secondary Data. Use of Secondary Data. Qualitative and Quantitative Approaches. Simulation. Kidder Louise H. Data Presentation and Analysis: Elements of Analysis. and Grout P. Research Methods for Business. Lambert.. Young Pauline V. (Latest edition). (latest edition). Data Research Procedures. The drydem Press.

ECON 403 Public Finance

3 C r. H rs .

Course Contents Introduction and Role of Public Sector The Economic Functions and Public Goods: Allocation of Resources, Redistribution of Income and Wealth and Stabilization. Pricing Public Goods. The Theory of Public Goods Fiscal Principles and Concepts: The Traditional Principle of Tax Neutrality is Expended Principle of Fiscal Neutrality. Exhaustive Vs. NonExhaustive Public Expenditures, Income Elasticity of Government Expenditures, Tax Vs. Non-tax Revenues, Microeconomic Vs. Macroeconomic Regulatory Taxes, Tax Base, Tax Rate Relationship; Progressive, Regressive and Proportional Taxes, Marginal Propensity to Tax and Marginal Vs. Average Tax Rates; Income Elasticity of a Tax Integral Fiscal Non-Neutrality. Tax Efforts and Tax Collection Performance in Pakistan. Public Revenue and Taxes The Economic Case for the Public Sector to Allocate Resources: Market Imperfections, Decreasing Costs of Production, Public Goods and Externalities. Pricing Decreasing Cost Industry. The Theory of Public Goods Public and Private Goods, Pure Public Goods, Should Public Sector be Produced Vs. Private Goods? Semi Public Goods, Merit Goods, Free Rider Problem, Externalities and Public Policy. Distributional Equity in Taxation The Ability to pay and Economic benefits (received), Cannons of Taxation, The Optional Income Tax Approach. Optimum Tax and Revenue Collection. Tax Structure of Pakistan Various Kinds of Taxes and their Objectives / Performance in Pakistan. Income and Sales Taxes, Excise and Custom Duties, Export and Import Taxes, Tax Reforms in Pakistan and their Impacts. General Equilibrium Vs. Partial Equilibrium: Tax Incidence Analysis. Determinants of Tax Shifting under Partial Equilibrium Conditions. Impacts of Tax Shifting on Price. Fiscal Policy: Public Expenditure and Budget Theories of Public Expenditures, Wagner’s Law, Efforts of Public Expenditures. Components of Public Expenditures in Pakistan, Sources 43

and Direction of the Growth of Public Expenditures. Kinds of Budget, Surplus, Deficit and Balanced: Preparation of Budget Cycle in Pakistan, Development and Non-Development Budget and its Patterns. Zero Based Budget, Planning, Programming Budgeting System. Fiscal Relations Fiscal and Economic Aspects of Federalism, Federal – Provincial Fiscal Co-ordination, Collection of Revenue and Provincial Share and its Distribution Criteria. Deficit Financing and its Impacts.

Recommended Books
• • Bernard P. Herber, (1999), Modern Public Finance. Chellieah R.J. (Latest eds.), Fiscal Policy in Less Developed countries. David N. Hyman, (1996), Public Finance, A Contemporary Application of ---. Harcount Brace College Publishers. Govt. of Pakistan, Economic Survey, Yearly Publication, Ministry of Finance, Economic Advisory Wing, Islamabad. Rosen and Harvey S., (1999), Public Finance, McGraw Hill. Musgrave R.A. and B.P., Musgrave (Latest Eds.), Public Finance in Theory and Practice, McGraw Hill. Stiglitz E., (2000), Economics of The Public Sector, W. W. Norton & Co. 3 C r. H rs .

• • • • •

ECON 404 History of Economic Thoughts course Contents

Introduction Introduction: Importance of Economic History: Approaches to Study the Subject. Overview of Ancient Greek, Roman and Medieval Economic Thought. Overview of Ancient and medieval thoughts, Quensey’s influential ideas, Feudalism, Mercantilism, Nature’s Circular Flow, Process of modern theories and thoughts. Overview of Islamic thoughts: Ibne-Khuldoon and thereafter. Overview of Silent Features of Muslim School of Thought Mercantilists and the Physiocrates The Contributions of Mercantilists and the Physiocrates. A doctrine of economic process, transition to liberalization: Wage theory to natural price, the task of government. Overtime, Changing Role of Government.


Classical School The Contributions of Classical School, Adam Smith; Malthus and Ricardo etc., The Labor Theory of Value. Bullin Debate. Ricardo’s Monetary Thought. Evolutionists, Ricardo and Reformers of 18th Century. The Theory of Rent. Profit Concepts of Colonization. Economic Socialism Socialism before Marx. English Socialists. Anarchism. Karl Marx’s Contributions. The Class Struggle. Criticism on Marx. Challenges to Capitalism. German Historical School, Weber’s contributions. The Marginalist School, Neo-Classical Economics. Jeons Inference. The concept of Welfare State. Chamberlin and Robinson. Australian School of thought. Veber and Galberith’s Contribution. Keynesian and Post Keynesian School The Keynesian and Post Keynesian School, The Great Depression: Economic Policies and Capitalist Instability Between the World Wars. The 20th Century Paradigms. The Growth of International Economy. The Rise and fall of Post World War II. The American economic history and Lessons. i) The Emergence of Modern Economic Growth, Building Blocks, Industrial Revolution, Structuralist and Dependency School of thought; Sunkel, Amir Samer, Frank and others’ contribution. Technological Change and Impacts. The Crisis of the 1970’s and International Responses. Failure of Trickle down effects. Rational Expectation Revolution. Basic Needs Approach and welfare. Emergence Famine and Poverty. ii) Modern Economic Thought. Comparison of Post Keynesian and Monetarist Thoughts. Supply side economics. Globalization, Liberalization and New Weave of Economic Growth and Welfare. New Growth Theory. Convergence and Divergence Debate. Future of Economics, Quality and International Trade and emergence of markets, New Regionalism, New directions of research. Environment and sustainable growth.

Recommended Books
• • • A History of Economic Ideas, (1959), Robert Lekachman, McGraw Hill Company. Economic Theory in Retrospect, Blaug, (1978), Cambridge University Press. Frank A. G., (1998), Global Economy in the Asian Age, Univ., of California Press. 45

MS-Word. Data Retrieval.. Schach and Locksley. ECON 406 Applied Economics Course Contents Introduction to Windows 2000 and Ms-Word Operating System. Command Syntax Printing. H rs . Spechler. Constant Elasticity Production Function etc. 46 . Marx k. Peoples Publishing House.• • • • • • • Henery John D. (1992). Dobb M. Sharing data with Word. SPSS and E-View Menu. Aggregate Demand – Aggregate Supply and Equilibrium. Data Editing / Updating. latest edition. Data Analysis. File Linkages. Simple and Multiple Regression Analysis. Formatting Reports. Routledge Publishers (Latest ed. PowerPoint and MS-Access (XP) Database Concepts. Analysis of Variance. Cob-Douglas Production Function.. Dialog Boxes. The Free Press of Glancer. Performance Management. Data Transferring. The Communist Manifesto. Martin C. Press. McGraw Hills. Theories of Value and Distribution (latest Edition). Desktop Management. File Linkages. Perspective in Economic Thought. The Main Current in Modern Economics (latest edition). (1981). Word Macros. MacMillan Press. Rima Ingrid. using Advanced Formatting Features.. Twenty Contemporary Economist ed.). SPSS. 3 C r. Black Wall Publishers. Development of Economic Analysis. Output Navigator Printing. Tool Bars. Cambridge Univ. E-View to Estimate Production Functions. and Engles F. Latest edition. (1990). Composing Models and Mathematical Equations. Computer Applications: Demand – Supply & Equilibrium Estimation of Demand and Supply using E-View / SPSS. Line Area and Pie Chart.. Internet Explorer. Estimation of Production Function Use of Computer. Creation and Modification of Chart. E-mail. Use of E-view for Model Estimation. Data Editor Printing. Printer Management. Moscow.. The Future of Economics.

Carter and Annette. D. Estimation of Economic and Social Benefits. Estimation of Simultaneous Equations. Single Equation Models. The objective is to let them realize that Islam provides full guidance to its followers in all spheres of social life. Estimation and Improving Model Estimates: Autocorrelation. (2001). E-View etc. They have to compare the prevailing system with that devised by Islam. Marquis.. Econometric Analysis and Computer Applications Regression Functions.P. • Robertson. equity in distribution and reduction in poverty as the primary goals of all developing nations. Estimation of VAR and ARIMA Models. for Cost-Benefit Analysis. The students have to understand the Islamic injunctions ordained for economic behaviour.Model Building and Estimation Building Simple Econometric Models and Estimation.F. 47 . to capture the socioeconomic problems faced by the present day Muslim countries and to find ways and means to reconstruct the system in vogue according to Islamic guidelines so as to achieve greater stability. Interpretation of Computer Output. Har Brace Jovanovich Inc. H rs . Mastering Microsoft Office XP Premium. Estimation with Qualitative Variables Confidence Interval and Hypothesis Testing. Estimation of Cost Functions and Decision Making. Multiple / Simultaneous Equation Model. • SPSS-Manual ECON 407 Islamic/Ethics Economics 3 C r. Selection B. Project Appraisal and Computer Application Use of Computer Programming (Softwares). Recommended Books • E-View Manual. with Karl Browning. Project Appraisal Using E-View etc.B. Estimation of Present Values. New Dehli . Computer Applications and Programming. Publishers. Objectives The course is designed for senior students having gone through some basic courses in economic theory and development economics. both in the individual as well as collective capacity.. • Gimi. (Learning help available with package (software)). USA (latest edition).

c. Consumer’s Behaviour Objectives. Bai Muajjal. Maulana Maududi. Types of transactions (Bai Fasid. Baqar-al-Sadar etc). Market structure The concept of fair trade. Emphasis on competition. Benevolence. Mushrakah). The parameters of Public spending in 48 . Joint Stock Company (Sharikah). Brief Introduction of the Basic Values of Islam. Determination of price and the rate of Normal profit. Shah Walliullah Dehlawi. Modes of investment and financing. Hoarding and gains. restricted set of preferences. Success in this world and the life Hereafter. The case of monopolies and cartels in an Islamic system. Macroeconomics in Islamic Framework a. saving and investment functions. Bai Slalm. stock holders and whole-sellers. Nature. Consumer’s equilibrium in an Islamic framework. Price mechanism and role of the State in market regulation. Meeting of losses. Resource allocation under Islamic environment. Forms of business organization: Proprietorship. Brotherhood and Cooperation. Piety (Taqva). Ibne-Khuldoon. Moderation in consumption. Islamic Economic Thought Contribution of prominent scholars towards development of Islamic Economic Thought (Imam Abu Yousuf. Determinants of Economic Behaviour and Policies in Islam. The foundations of Islamic Economics. Accountability. Trusteeship. Microeconomics in Islamic Framework a. Islamic Economics Versus Secular Economics.Course Contents Introduction Islamic Economics: Definition. Murabaha). Partnership (Muzara’h. Mudharbah. Concept of helping others. Behaviour of the Firm Business Ethics in production and marketing. Justice. Principles of financial contracts. Imam Abu Ubaid Al-Qasim. Utility function. Determinants of consumption and Investment functions in Islamic environment. Equality. and Importance. Some Basic Macroeconomic Concepts Consumption. altruism and charitable donations (Zakah and Sadaqat). b. The lawful and unlawful (Halal and Haram). Behaviour of the retailers. Imam Ibn-e-Taimiyah. Permissible and prohibited activities.

Design of capital markets and Insurance. Paper money and Credit money. Objectives of fiscal policy: Social justice. principal-agent Murabaha. Central Banking and monetary policy in Islamic framework: Combating inflation. Implementation of Zakah and Usher system: Prospects and Problems. Islamic Economic System Salient features of an Islamic Economic System: Objectives. Rationale for prohibition of interest-based transactions and gambling. Economic and social welfare.. International trade relations. Inflation and unemployment. the scope for taxation. Islamization Process in Pakistan Islamization of the banking and financial system: Reports of the CII and implementation issues. Protection of faith and Islamic values. Exemption limits and rates of Zakah. The case of domestic and foreign borrowing. Fulfillment of basic needs. Malaysia. Private ownership and property rights. Modes of financing investment: leasing (Ijarah). Bai Muajjal etc. Role of the State in an Islamic system. Public Finance and Fiscal Policy Sources of revenue and heads of expenditure of an Islamic State. 49 . Alleviation of poverty and reducing of inequalities. Bai-Salam. The institution of Zakah and Bait-ul-Mal. Comparison of Islamic economic system with Capitalism and Socialism. Wider circulation of wealth. Justification of interest in the conventional theory. Equity and Efficiency. The institution of Interest and its inconsistency. Islamic Banking practice and the role of the State Bank of Pakistan. Family system and the law of inheritance. The relative importance of Capital and Labour. Money and Banking Commodity money. Equity in distribution and elimination of poverty. Financing economic growth and development in Islamic perspective. c. Economic impacts of Zakah & Usher: the multiplier effect. The process of Islamization in other countries like Iran. Beneficiaries of Zakat. Sudan. The role of financial institutions in the private sector. Rationale for prohibition of interest. The concept of Riba (interest): its interpretation and implications. b. A brief survey of changes that have taken place in economic and financial structure since 1980’s. Stabilization policies in Islamic framework. partnership in capital (Musharka). Social and distributive justice. Models of interest-free Commercial Banking.Islamic framework. Economic Freedom.

IIU Islamabad. Hodder and Stoughton. M.Cambridge. London. Practice and Performance of Mudarbah: A case study of Pakistan. Jeddah. Taqi Usmani.N. UK. Muhammad A. (1996). 50 .Introduction to Islamic Finance Idarat-al.Leicester. – (2001).The Islamic Council of Europe.Ma’arif Karachi. Islamic Development Bank Jeddah.Human Resource Mobilization through the Profit-Loss Sharing – IRTI.(1979) . International Islamic University Islamabad.International Centre for Research In Islamic Economics. Umer – Just Monetary System – (1993) – IIIT New York and Islamic Research Institute. UK.(1980) King Abdul Aziz University Jeddah and The Islamic Foundation UK Ziauddin et al (Ed) – Money and Banking in Islam – (1983). Munawar (Ed) – Distributive Justice and Need Fulfillment in an Islamic Economy – (1986) – IIIE.Zakat and Social Justice: English transliteration of the Book: Kitab ul Amwal by Imam Abu Abaid Al-Qasim .Economics: An Islamic Approach – Institute of Policy Studies Islamabad and The Islamic Foundation.(1983). Chapra M. IRTI.King Abdul Aziz University Jeddah and Institute of Policy Studies Islamabad. Khurshid – Studies in Islamic Economics. Umer (1991). Hafiz M. M. Yasin. Sayyid Tahir et al (Ed) – (1992) . Khan M. M. Tariqullah.. Justice M – (2000) . Zaki.. M. Fahim – (1983) . M. KSA.Islamic Economics: Theory and Practice. Ziauddin et al (Ed) – Fiscal Policy and Revenue Allocation in Islam – (1983) King Abdul Aziz University Jeddah and Institute of Policy Studies Islamabad.Issues in Islamic Banking . – Economic System of Islam – (1993) -Lecture Notes (mimeographed) – IIIE. The Islamic Foundation. Siddiqui.N. Siddiqui. Mannan. Khan. Badawi.Readings in Microeconomics: An Islamic Perspective – Longman Malaysia.Recommended Books • • • • • • • • • • • • • • • • • Ahmed. Fahim – (1995) .Macro Consumption Function in an Islamic Economic Framework . Khan. International Islamic University Islamabad.A. A Comparative Study (1986) . Islamic Development Bank. Iqbal. King Abdul Aziz University.The Economic System of IslamUniversity of Karachi. Chapra.

(1994) . Haris. Jeddah. of Pakistan. Islamic Development Bank. 3 C r. Lahore. (2003). The input-out Model.Ethics and Economics Leicester.A. IRTI. Govt. The 51 . Stability of equilibrium.(1985). Imam Abu. UK. UK.Financing Development in Islam .Islamic Economic Systems – Zed Books Ltd.. CII Reports – Consolidated Recommendations on the Islamic Economic System (1983. The Islamic Foundation. Syed Nawab Hyder.(1996) . H rs .M. (1995). Yusaf. Medieval Islamic Economic ThoughtsRoutledge Publishers. Money in a general equilibrium setting.IRTI. Existence of equilibrium. Nuti. Islamic Development Bank. Developing a System of Financial Instruments IRTI. 1979. Nomani. ECON 408 Research Paper Course Contents The basic objective of the research paper is to train the students in the application of the different principles of economics. OPTIONAL COURSES ECON 001 General Equilibrium and Welfare Economics 3 C r.. .. Islamic Development Bank. Naqvi. Walras Law. Siddiqui.A. The Von-Neuma Model of a expanding economy. Kita bur Kharaj. Linear programming technique to general equilibrium theory (Activity Analysis). Ali. Jeddah.IRTI. M. Mannan M. Ghazanfar S. London. (1995). 1994). (1995). Farhad & Rehnuma.• • • • • • • • • • Mahdi. Ahmad.Leicester. Pareto principle. Jeddah. Technical and allocative efficiency and case of exchange economy. The Economics of Participation.Muslim Economic Thinking . production and resource allocation and efficiency of Perfect Competition. Measurement of Changes in Welfare: Consumer Surplus. Jeddah. optional. Course Contents The nature of general equilibrium analysis.. Compensation Principle. The Islamic Foundation. Islamic Book Centre. D.N. Mannan M. General Equilibrium Theory: Multi market equilibrium in a competitive setting. Islamic Development Bank. Islamic Banking Modes for House Building Finance .(1981).the Council of Islamic Ideology. H rs . M.

Schultz. Holden-Day 1971. Factors of HRD. H. Training and Skill development a component of HRD. impact on HRD. Theory. Reny.) Varian. Joint Products. Health. migration of labour force. 2001 (2nd ed. Microeconomics Theory.. Food. Kuznets and modern economists. its kinds and causes. Recommended Books • • • • Mas-Colell. Brain Drain problem in LDC’s. its various forms and role in HRD. Arrow and Hahn. Human Capital Formation and HRD. General Competitive Analysis. Theories of HRD by T. Advanced Microeconomics. ECON 002 Human Resource Development Course Contents Introduction and Basic Concepts. Globalization. Significance of HRD to wards economic development. Addison Wesley. Microeconomics Analysis. Income distribution and compensation principles.W. Marginal cost pricing. Science and Technology as factors of HRD. Information. 1995. Nutrition and Clean drinking water as factor of HRD..Theory of Social Choice: Social welfare function. Meanings and Definitions of HRD by various Economists. Jehle. Education. Whinston and Green. Significance of information in HRD. Migration. Basic Concepts. Theory of second best and its application in Public Sector and international trade. Norton 1992 (3rd ed) 3 C r. G. its impact on economy. & P. 52 . Migration: Needs and Impacts. Brief Historical background of HRD. Its impact on HRD. H rs . Externalities. Other Reference Books for general equilibrium. Oxford University Preses. remittances and its impact on HRD and economic development . WTO and their impact on HRD. its role in HRD. San Francisco.J. Social and Economic rate of return to Education HRD and Needs.A. WTO and Labor Migration. Arrow’s Impossibility Theorem.

Human Resource Development in Labour Surplus Economies PDR. Unemployment in Pakistan. The Mall. Aslam and Hameed..51 USA PIDE. Islamabad Pakistan. Human Development in South Asia. Islamabad. 1998. LIMS and Labor Issues in Pakistan Population profiles in Pakistan. Human Development Reports Ali. Its salient features. its implications and suggestions to improve HRD in Pakistan. 50 years of Pakistan. Political Economy of Human Resource Development. Various Issues. Analysis of the efforts regarding HRD in Pakistan. Earning of women and economic development Policies / Suggestions to develop the women in Pakistan. stages of Manpower planning. Oxford. its role in economic development and rate of return to education in Pakistan. Karamat. Mismatch between the supply and demand of Labour forces in Pakistan and policies for improvement the population for HRD. Feroze Sons. Bashir Ahmad (2005) 50 years of Human Resource Development in Pakistan. Development of HRD factors in women. Labour force market information (LMIS) in Pakistan. The Mall..W. Islamabad Ministry of Finance. 1961 Investment in Human Capital American Economic Review. A comparative Study of HRD in Pakistan with other LDCS Recommended Books • • • • • • • • • • • Chaudhary M. A. Pakistan) Kuznets S. 1989. Measures to improve the education for HRD in Pakistan. Human Development in Pakistan. Pakistan UNDP. T. Economic Survey (Various Issues) Islamabad 53 . Lahore. Shaheen Publishers. Pakistan. Poverty. 1999. Vol. R. Education and Earnings in Pakistan (Research Report No. Development of women for HRD. Kamal A. Islamabad. Faisalabad. forecasting of labour force in LDC’s with special reference to Pakistan Women and Development Role of Women in HRD. Human Capital and Development Issues. its importance. Feroz Sons. Khilji.Manpower Planning & Forecasting Labor Concept of Manpower planning. Schultz. Female Labour force participations rate. Lahore HDC.177. (Various Issues). PIDE. Federal Bureau of Statistics. factors and other allied concepts.

Backward bending Supply Curve of Labor. Labor Legislation in Pakistan. Theories of Labor Movements The Marxist. Unemployment and Inflation Determinants of Wages. Supply of Labor and Household Productions. Impacts of Labor Union. 50 years of Human Resources. Labor Market Discrimination Discrimination in Labor Market: Gender. Labor Migration: Reasons and Impacts. Short Run and Long Run Demand for Labor. ECON 003 Labor Economics Course Contents Importance of Labor Economics Introduction: Industrialization and Emergence of Labor Economics. Efficiency Wage Theories and Coordination Failure. Minimum Wages. Human Capital. Wages and Phillip Curve. 54 . Decision Making and Labor Hiring. The Determinants. Structural Adjustment and Wages. 3 C r. Labor – Skill. Labor Market: Supply of Labor and Wages Determinants of Labor Supply. Major Sources of Unemployment. Labor Policies in Pakistan: Critical Evaluation. H rs . The Dual Labor Market Theory. Concepts of Human Capital.• State Bank of Pakistan 2005. Labor Market Information System Labor Market Information System and Efficiency. Stagflation and Unemployment. Unemployment and Social Protection. The Wells. Labor Unions and Wages. High Wages and Involuntary Unemployment. Market Determination of Wages and Marginal Productivity. Labor Markets Analysis: Demand for Labor Labor Market Indicators. Productivity and Wages. Demand for Labor. Selling and Pearlman’s contributions. Trade Unions in Pakistan. Industry and Market Demand. Race and Ethnicity. Wage Rigidity. Rationale and Impacts. Labor Force Participation. Tools to Analyze Labor Markets and Conditions. Wages. Labor Unions and Unemployment. Supply and Demand for Labor and Wage Determination. Labor Statistics and Labor Policy. Overview of Labor Issues in Developing and Developed World. Demand for Labor by Firms. Human Welfare and Labor Policy. Training and Productivity.

Child Labor Definition and extent of child labor. Recommended Books • • • • • Deaton.@ in Handbook of Labor Economics. moral aspects. (1986). (1986). M. ALabor Supply: A Review of Alternative Approaches. Julie L. P. Impact of Population Growth on Economic Development. Reynolds. Economic and Social Determinants of population trends and their consequences. 1999..@ in Ashenfelter and Layard (eds. Elsevier Science Pub. Layard. Population programs in Pakistan and their impacts. 3A. Handbook of Labor Economics.) Handbook of Labor Economics. Policies to combat child labor.@ in Handbook of Labor Economics. R. e. National Population survey. Child labor and international trade issue. A. 1986. Current Issues in Labour Economics (1989) Palgrave Mcmillan. 1986. 1560-1695. Demand Analysis. (2002). Ashenfelter and R.) Handbook of Econometrics. Child labor an international issue: Extent of Child labor in developing countries. Hotchkiss. Heckman. G. Thomson Publisher. Kaufman. Routledge Publishers. eds. Vol. Bruce. Labor Economics and Labor Relations. Vol. MaCurdy (1999). Amsterdam. Population policies and their impacts. ECON 004 Population Economics Course Contents History of Population Growth Population/labor as a factor of production: Population theories. R. Griliches & M." in O. Child labor in Pakistan.. Kaufman. ALabor Supply of Women. Volume I. 55 . Co. Pencavel. Recommended Books • • • • • Comith Stephen (2003) Labour Economics.. in Z. Killingsworth. and J. Components of population changes: Sources of demographic data. 1986. (1986). Vol. R. Intrilligator. 3 C r. "Home ProductionCA Survey. Blundell. Economics of Labour Markets. Regional / provincial distribution of population in Pakistan. North Holland. (eds. J. and T. 1. Child labor. (1986). ALabor Supply of Men: A Survey. H rs . Orley. Amsterdam: North-Holland. Ashenfelter (ed) Layard. 1. (ed) Hand Book of Labour Economics. Gronau.

Agricultural Household Models: Extensions. AAn Economic Analysis of Fertility. Strauss (1986). food consumption and the health and productivity of Indonesian farmers." Mimeo. Applications and Policy. (1998). ECON 005 Comparative Economic System Course Contents Evaluation of Economic Systems Classification of Economic Systems. Capitalism Definition.” in Agricultural Household Models: Extensions.R.). Squire and J. Baltimore: Johns Hopkins University Press. and R. Competitive and Monopoly Capitalism. Willis. Rosenzweig and O. E. Rosenzweig. Squire and J. 1996. editors. M. Chapter 2.@ in M. "Methodological Issues.P. Rosenzweig and O. Schultz. Rosenzweig and O. Distinction between private and Public Property and 56 . (1996). Hotz.@ in Demographic and Economic Change in Developed Countries. editors. I. Economic Institutions of Capitalism. Applications and Policy. 209231. North Holland. Squire and J. and M.@ in M. L. ADemand for Children in Low Income Countries.• • • • • • • • Becker. Princeton: National Bureau of Economic Research. Singh. World Bank. J. North Holland. “A Survey of Agricultural Household Models: Recent Findings and Policy Implications. Singh. Basic Differences between Economic System. 1960. (1986).. 1996. Handbook of Population and Family Economics. J." in Agricultural Household Models: Extensions. Pre-Requisites of Capitalism. H rs . T. (1960). Murrugarra.R. Stark. Stark. Handbook of Population and Family Economics.@ in M. Applications and Policy. AIntrahousehold Distribution and the Family. Klerman.. 3 C r. Stark. 1996. AThe Economics of Fertility in Developed Countries: A Survey. Pitt.. Behrman. Historical Development. L. G. Agricultural prices. North Holland. in I. L. J. Handbook of Population and Family Economics. editors. Historical Development Criteria for Evaluation of an Economic System. Baltimore: Johns Hopkins University Press. I. Singh. "Labor Demand and Incomplete Markets: Testing for Nonseparation on Peruvian Rural Households. Strauss (eds. V. Strauss (1986).R.

Modern Trend and its failure. Operations under Mixed Economy. Marxism. Evaluation of Capitalism in USA and Europe Capitalism. Economic System of Islam by M. Louks and William G. Comparative Economic Systems by Martin C. Capitalism and Communism. Lahore. Comparative Economic System by William. The Concept of Welfare State. The Mixed Economy. Communism / Socialism in USSR. Islamic Book Publisher. Economic Decision Making under Capitalism. Houghton Mifflin Company. Market System and Environmental Problems. Price System. Profit Maximization/Cost Minimization and Competition. Stuart. Islam or Socialism by Wilicaynaki. Ala Maududi. Communism and Power to the Centre.Production. Comparative Economic Systems by Gregory. China and Other parts of the World. Present Status of Socialism. Economic System in Pakistan Brief Economic History of Pakistan. Comparative Analysis: Islamic System. Property Rights. Islamic Economics as Global System of Equity and Welfare. Economic Planning and Decision Making. Islamisation in Pakistan: Process and Problem. Schmeltzer and James W. Boston (1985). Economic System of Islam Distinctive Features. Communism and Socialism Meaning and Nature. 57 . Whitnery (latest edition). Production and Distribution System. Achievements and Experience. Socialism and Islam by Syed A. Omer Chapra. Recommended Books • • • • • • Capitalism. Convergence of Capitalism and Socialism. Achievements and Failures. Hordyke (1977). Concepts of Ownership and Production. Socialism. Economic Institutions and their Role. Various types of Communism. Basic Economic Values of Islam. Privatization and Liberalization in the 1990’s and 2000’s. Nationalization and its Impacts.

Measuring of cost effectiveness. Course Contents Introduction Meaning of Project Appraisal. Money Market. Development financing. Social vs. Project Cycle. Market price and financial analysis. Asset Structure. Categories of Costs and Benefits. Domestic resource cost of foreign exchange earning / saving. Discounted measures of NPW. BCR. non-banking financial institution. Removal of market price distortions in traded and non-traded goods. Economic benefits and selection of projects. The Incremental / Net Benefits and “With” and “Without” Comparisons.ECON 006 Project Appraisal and Investment Analysis 3 C r. Finding market prices and related problems. Net benefit – Investment Ratio. Premium on foreign exchange through use of Shadow exchange rate and conversion factor approach. Limitation of analysis. Comparative assessment of discounted measures. Contours and Dimensions of a project and its essential ingredients. Financing the 58 . Stock Prices. Project Vs. Plans. Pricing Project Costs and Benefits Prices reflecting values. Constant Cost Method. H rs . Financial (Investment) Analysis Theoretical and empirical examination and saving and investment. Concept of capitalization types of securities. Cost Effectiveness Analysis Areas and elements of analysis. Change in relative prices and inflation: Shadow Prices and economic analysis. usefulness and significance. IRR. Aspect of project appraisal with a special focus on economic versus financial analysis. Identify Project Benefits and Costs Objectives of Costs and Benefits. Switching value. Annual Worth. Choice among mutually exclusive alternatives. Cross over discount rate. Methods of analysis: Constant Effect Method. Present Worth. Applying Discounted Measures of Project Worth Sensitivity analysis. Comparing Project Costs and Benefits (Measuring of a Project Worth) Undiscounted measures of project worth. Portfolio Theory and Investment Analysis.

. Identification of Issues: The era of 1950’s. 59 . M: “Project Appraisal. Punjab P&D Board. Gittinger J. ECON 007 Major Issues in Pakistan Economy 3 C r. (Latest).” Oxford & IBH publishing Co. International Investment. Interest rate. (Latest). “Economic Analysis of Agricultural Projects”. McGraw Hill. William F.. (Latest). 1960’s. Approaches. United Nations: “Manual for Evaluation of Industrial Projects” Oxford & IBH Publishing Co.. Prentice Hall. New Delhi. Price. H rs . Bruno Solmik. Alex Kane. The Johns Hopkins University Press.. Delhi. Arnold. (Latest). Elton and Martin J. Security Analysis and Portfolio Management.. E. New Delhi. (Latest). Ch. Speculation and Inter – relationship of financial and real variables in the economy. Large scale and small scale.J. Dec. Sharpe & Gorden J. J. London (Latest). Donald. Unemployment. Bond market. (Latest). “Investments” 5th Ed. Essentials of Investment. Hussain.. John Wiley and Sons (Latest). Wesley publishing Co. Human Resource Development. Structural Change and Sources of Growth. Recommended Book • • • • • • • • • • • • • Hughes. A. (Latest). Finance and Small Firms. 1980’s 1990’s and 2000’s. London. (Latest). London. 1970’s. “Planning Manual” Lahore. Financial intermediaries. & D. Storey: “Finance and The Small Firm” (Ed) Routledge. Addison. Emergence of Economic Issues.J. Goober. Policies and Outcomes. Alan K. (Latest). Zvi Bodie. Burno Solnik: “International Investments” 3rd Ed. Hughes and Storey D.. United Nations: “Guide to Practical Project Appraisal – Social Benefit – Cost Analysis in Developing Countries. Real and financial investment. Edwin J. (Latest). Fischer. Addison Wesley. Course Contents Overview of Pakistan Economy Development Experience. RoutLedge. Monitoring and Evaluation Process with Special Reference to Pakistan” Royal Book Co.. Modern Portfolio Theory and Investment Analysis.industrial sector. (Latest). Karachi. Prentice Hall.

Labor Intensive Investment: Education / Training etc. Employment Pattern and Unemployment Sectoral Priorities and Development Issues. Industrial Development Debate. Good Governance. Expenditure Approach. Borrowing Vs. Domestic Reserve Mobilization (failure). Social Action Plan and its Impact. Rescheduling and its Impacts. Social Sectors development Vs. Neglects and Successes: Mobilization of Domestic Resources. International Debt and Dependency Concepts of Foreign Aid and Debt. High Return Sectors: Growth trade off. Human Resource Development and Emerging Issues: Population Growth. Definitions and Approaches to Measure Poverty: Income Approach. Agricultural Vs. the Role of Green Revolution and its Impacts: Present Status. Debt. Growth Strategy. Role of Institution in Development. Agricultural Adequacy. Foreign Trade Promotion. How to Combat Poverty. Agriculture and Industrial Development: Emerging Issues Pattern of Agricultural and Industrial Development. Sectoral Terms of Trade. Development of Large and Small Industries. Forecasting Manpower Needs and Employment. Size of Foreign Debt. Primary Goods Production. Poverty and Income Distribution Pattern of Income Distribution: Rural and Urban. Deficits and Role of Foreign Aid. Agricultural Price Policy and Income Tax. Labor Force Participation Rate and Employment Pattern. Development Planning and Resource Mobilization Agricultural Development Policies and Priorities. Strategies to combat unemployment. its Role and Critical Review. Sectoral Development. Unemployment and Underemployment. Debt Modeling and Future Implications. Industry: Development Debate. and Social Action Plan (SAP) . Income Distribution. Basic Needs Approach. Basic Needs. Debt Management in Pakistan and Its Impacts. Industrial Development Policies and Strategies. Criteria to Measure Unemployment / Underemployment: Time Criterion. Value Added: Manufacturing Goods Vs. Strategies to combat with High Debt: Saving Policy. Land Reforms and Its Impacts. Productivity Criterion and New Index of Unemployment: Application to Pakistan and Empirical Evidences. Major Targets of Develop Plans and Emerging Issues. Growth with limited development in Pakistan.Poverty. Deficit etc. Agriculture Vs. Poverty of Participatory Index (POPI). Evasion of Policies / Strategies to Combat 60 . Cutting non-development Expenditures. Debt Saving and its Impacts. Shortages.

Human Resource Development and Management in Pakistan. Human Development In South Asia. Khawaja Amjad. Lahore (1989). Foreign Trade Deficit and Emerging Issues Sources of Inflation in Pakistan. 3 C r. Instability and its Impacts. Factors Productivity Issues. Press. Marginal Cost and Supply.Poverty and Improving Income Distribution: Critical Evaluation. (1989) Oxford University Press.. Karachi: Oxford University Press. World Development Reports. The Economy of Pakistan. Policies to Combat Deficit and Trade Instability. 61 .. World Bank. ECON 008 Environmental Economics Course Contents Introduction and Awareness What is Economics of Environment. Press. Oxford Univ. 50 Years of Pakistan’s Economy – Traditional Topics and Contemporary Concerns. Allied Book Centre. Policies to Combat Inflation and their Impacts. Khan. Marginal Principles. Lahore. Chaudhary M. Child Labor. Inflation. Terms of Trade Issues. Lahore (2004). Distinction between natural resource economics and environmental economics. Issues in Pakistan Economy. (1999). Akbar. The fundamental balance. WTO and Trade Liberalization in Pakistan. First and the second laws of thermodynamics. Shahrukh R. Karachi (2000). Historical Framework for Environmental Protection. 2001-2002. Recommended Books • • • • • • • • • Aslam M. Aslam. H rs . Chaudhary M. Aslam and Ahmad Eatzaz: Globalization. Mahbool-ul-Haq Centre for Human Development (MHCHD). FerozSons. Zaidi. Trade Performance. Expected Impacts of WTO and Challenges. Ferozsons. The Economy and the Environment. Neglect of Human Resource Development. Reforms and Further Needs. Market Access and Health Related Rates. Equilibrium Principle Technology and Equi. Oxford Univ. WTO and Its Impacts.. Poverty Profile of Pakistan. Saeed. Analytical Tools: An Environment Supply and Demand Issue: Cost of Controlling Environment Benefit – Cost and its Estimation. 2004. Willingness to Pay. Karachi. Perspective on Development Planning In Pakistan. Annual Report.

International trade and the Environment. Recommended Books • • • • Field. 62 . The Coase Theorem. Urban Waste and Agricultural Issues Related to Pesticides use. Public and Private Efforts to Improve Environment Quality and Impacts. General Models of Pollution Control. The Pollution Haven hypothesis. Industrial Waste. The Global Environment Ozone Depletion. Impacts of Awareness Policy. External costs and external benefits. B. Principles of Environmental Economics. The Economics of Global Warming. Latest eds. Environmental degradation in developing economies.C and M. Urban Environmental Issues. health. Environmental Economics. Environmental Economics: An Introduction (3rd Edition) 2002 New York: Mc Graw Hill Barry C. the travel cost method and the hedonic approach. UN and Environmental Cooperation. Equity and Social Efficiency. International Environmental Agreements. McGraw Hill (Latest Edition). Long Run Sustainability through Pricing Mechanism. Benefit Cost analysis: Costs: The value of life. Salinity and Water Logging. The role of developed countries. Pigovian Analysis. Environmental Policy and Strategy in Pakistan. Keyoto – Protocol and Issues. Air pollution in Pakistan. (2003). quality of life and Environment Quality. D. Public Policies and Awareness to Control Pollution. Chapman. Marginal Principle. The Economics of Environmental Quality Pollution and Impacts on Human Life.Economic Efficiency and Markets. Valuing the Environment and Benefit Cost Analysis Measuring environmental benefits: Contingent valuation. Routledge Publishers. Massachusetts: Addison.K Field. Environment and Pakistan Emergence of Environment Issue in Pakistan. safety and risk.Wesley Hussen A. An Introduction. Environmental Economics : Theory Application and Policy. Economy and Environment. Field. Economic Development and the Environment General considerations. Emission Reduction and Equi.

3 C r. Discussion on different types of Operations Research models. Arrow diagram representation. Environmental Economics. Alternative optima. ECON 009 Operations Research Course Contents Introduction History. determination of critical path and floats Construction of time chart and resource leveling. Single-item N-period dynamic model and N-period production scheduling model. Project control. Types of inventory model: (a) Deterministic Models: Single-item static model. Linear Programming Meanings and objectives of Linear Programming Models. Probability and cost considerations in project scheduling. M-technique and two-phase method). unbounded solutions and Non-existing solutions. Meanings and introduction to Operations Research. The Assignment model. Primal Dual relationship. Inventory Models Meaning and objectives of Inventory model.(c)Degeneracy. Duality and Sensitivity Analysis Definition of the dual problem.• Baker Steve. Solution of the transportation problem. Solutions of linear programming problems: (a) (b) Graphical approach Algebraic solution (Simplex method. multiple-items static model with storage Limitations. single-item model with price breaks. New Delhi. 63 . Project Scheduling By Pert-CPM Meanings and purposes of Project Scheduling. Formulation of generalized inventory model. Art of modeling and phases of Operations Research. Economic interpretation of duality. The transshipment model. H rs . Transportation Model Definition and application of the transportation model. Formulation of Linear Programming model/problem. Sensitivity Analysis. solution and application of assignment model. (2003) Dominant Publisher and Distributors.

2002. E. H rs . Harvey. Wiley. Dimintrics Bersimas and John N. Disequilibrium models. M. J. Gillet.” 1st edition. single period models and multi period model. continuous and discrete time. “Linear Programming Methods and Application” 1st edition. 1997. Edward Arnold. J. ” 1st edition. 1st edition 1978. 2002. and indeterminacy. “Introduction to Linear Optimization” 2nd edition. price and quantity adjustments of multiple equilibria. “Introduction to Operations Research. McGraw hill. Wagner. Fryer M. 1984.” 7th edition. Prentice Hall. 3 C r. stability in the long-run. 1975.. dynamic stochastic optimization techniques. “Basic Linear Programming. non-linear stability bifurcation theory. A. classical and Marxian accumulation models with multiple indeterminate. Waynelwinston “Operations Research Application & Algorithm” 3rd edition 1994. McGrawhill. Recommended Books • • • • • • • • • • Bunday.” 7th edition. multiplicity of equilibria. Billy. Examples of dynamic programming models and computations. Tsistsiklis. Anthena Scientific. Duxbury Press. Paul-A-Jensen and Jonathan F.(b) Probabilistic Models: A continues review model. 64 . ECON 010 Dynamic Macro Economics Course Contents Construction and analysis of dynamic models of macroeconomics and monetary phenomenon with focus on non-linearity.” 2nd edition. Brian D. Gass M. Hillier and Lieberman. “Principles of Operations Research. cyclical and chaotic equilibrium paths. 2001. Dynamic Programming Elements of the Dynamic model. stability and instability of macroeconomic equilibrium in linear and non-linear models. “Introduction to Operations Research. McGraw hill Hamdy Taha. Edward Arnold. Brad “Operations Research Models and Method” 1st edition. “Introduction to Linear Programming and Matrix Game Theory”. 2002. “Operations Research An Introduction. 2001. Prentice Hall.

American Economics Review 8. 1999. M. 469-494 • Ljungyqvist. • Rros-Rull J. Keynesian Vs. Cambridge.. Woodford. Transaction Theories of Demand for Money. • Taylor. Definitions of Money.Recommended Books • Blanchard O and S. Harvard University Press. England. Employment and Prices. Role of Money in the Economy Debate on neutrality and non-neutrality of Money. H rs . J and M.. Massachusetts and London. Princeton University Press. M1. Elsevier. Definition of Money Function of Money & Measurement of Money. and Scott A. Friedman’s Restatement of Quantity Theory of Money: Empirical Evidence on the Demand for Money. Wallace. 1996 Wealth distribution in life-cycle economics. Portfolio Theories of Demand for Money. 65 . • Marimon. Recursive macroeconomics theory. Cambridge. MIT Press. Lectures on macroeconomics. 893-907. MIT Press. England. Classical Dichotomy and Keynesian Integration of Nominal and Real Sectors. 2000. Course Contents Introduction and Development of Monetary Mechanism Evolution of Money and Payment System. 1999. L. 1998. Baumol – Tobin Model of Cash Management.. and T. Sargent. Computational methods for the study of dynamic economics. Volume 1C. • Cooley T. Monetarist views of Equilibrium Output. Oxford University Press. Demand for Money Quantity Theory of Money. working at home and the acquisition of skills: a general-equilibrium approach. 1993. Journal of Monetary Economics 38. and N. Handbook of macroeconomics. working in the market.F. M2. 1996 Wealth distribution in life-cycle economics. Massachusetts and London. Money in Aggregate Demand & Aggregate Supply Analysis. 469-494. 1991 Introduction to dynamic macroeconomic theory. • McCandless G. • Huggett.. Fisher. Demand for Money & Supply of Money. M. • Huggest. L etc. 38. an overlapping generations approach. R. ECON 011 Monetary Economics 3 C r. Journal of Monetary Economics. M3. 1995 Frontiers of business cycle research. Role of Money in the IS-LM Framework.

Explaining Depositor and Bank Behaviour: the Complete Money Supply Model. Targeting Inflation. Independence of Central Bank and its role in Economic Growth. Understanding Movements in the Monetary Base. Money Multiplier. The Philips Curve and Accelerating Inflation. Inflationary Spiral. Targeting interest rate and inflation. Tool of Central Bank for Money Control. Inflation in Pakistan: Sources and Managing Policies. Portfolio Choice: the Theory of Asset Demand. Cost – push Inflation. Policies to Combat Inflation in Pakistan. Targeting exchange rate. Impact of Reserves on B. Friedman’s Modern Quantity Theory of Money. Stagflation & Hyperinflation. 66 . Inflation as a Monetary Phenomenon.P and Exchange Rates. Theories of Interest Rate Determination. Current Issues in Monetary and Financial Sector Reforms. Real & Nominal Interest Rates.The Money Supply Process Monetary Base. Regressive Expectation Model. Keynesian Liquidity Preference Framework.O. Central Bank as a lender of last Resort. Monetary Policy in International Framework Money Demand and Empirical Evidences. Maturity & Volatility of Bond Returns. Multiple Deposit Creation: Introducing the Money Supply Process. Money in Growth Models. Infectiveness of Stabilization Policies. The Conduct of Monetary Policy: Central Bank Structure and Functions of Central Bank. Conduct of Monetary Policy in Fixed and Flexible Exchange Rates. Monetization of Public Debt. Money and Inflation What is Inflation & Causes of Inflation? Demand – pull Inflation. Velocity of Money and its variability. Exchange Rate and Balance of Payment. Financial Intermediateries. Monetary Base. The Conduct of Monetary Policy: Goals and Targets. Discount Window Loans and Open Market Operation. Advantages and Disadvantages and Impact Analysis of each Policy Tool. The Distinction Between Interest Rates and Returns. Determinants of the Money Supply: Exogenous and Endogenous. The Risk and Term Structure of Interest Rates. Tools of Monetary Policy: Three Major Tools of Monetary Policy. Effectiveness of Policy. Managed Exchange Rate System and Monetary Policy. Required Reserve Ratio. Sources of Inflation in Pakistan: Spiracle Evidences. Perfect Mobility of Capital and Money Control. Understanding & Measuring the Interest Rates. Money & Interest Rates Determinants of interest rates. The Behavior of Interest Rates. Kinds of Interest Rates.

(1989). (Sixth edition). Money. R. Monetary Economics. as well as other non-resolved current issues in monetary economics that have been of interest to academics and policy makers in recent years.Recommended Books • • • • • • • Bennett T. much of the course will be analytical in nature. New York.. (Latest Edition). The Economics of Money. New York. Miller.. Mishkin. (1995). Harper & Row Publishers. (2001). H rs . (2001). Singapore. Theory and Policy. Banking & Financial Markets. The treatment of these topics will be at an advanced and sophisticated level. South Western. and David VanHose. Interest and Prices. Vikas Publishing House. Mishkin. Laider. Monetary Theory. 3 C r. (2000). McCallum. ECON 012 Monetary Policy Objective: This course aims to provide a fundamental understanding of the most basic questions in monetary economics: What is the role of money? What causes inflation? How does monetary policy affect output? Insights into these questions underline some of the most important developments in macroeconomics in the 20th century. so we would spend time learning important issues in details rather than trying to be comprehensive in coverage. Vanish K. Banking and Financial Markets. This course will also discuss issues related to credit and banking. Patinkin Don. As such. Frederic S. David E. Evidence and Problems (Fourth edition). and to familiarize themselves with the theoretical way of thinking about economics. Delhi. at least conceptually. Publishers. This course will examine that how knowledge from the monetary conduct the monetary policy in a more scientific and ‘optimal’ way. Harper and Row Publishers. The Demand for Money: Theories. Harper & Row. Addison Wesley. McMillan. Students are expected to read first-rate journal articles in order to sharpen their analytical adeptness. set in the context of fully specified monetary models with micro-foundations. Contents: Time Inconsistency: Inflation bias of discretionary policy. ECON 012 will offer as an upper level theory course. Financial Markets and Money.W (1996). Focus will be on depth rather than scope. Fredric S. Money. solutions 67 . L.

Results and Assumptions. . Fiscal and social policy. and L. Fiscal Situation of developing World. 3 C r. Labor and Capital Taxation. roles of asset prices. Fiscal federalism Recommended Books • Auerbach. Intergovernmental fiscal relations. Olivier J. MIT Press. Good undergraduate-level expositions on many topics to be covered can be found in: Bruce Champ and Scott Freeman (2001) Modeling Monetary Economies. Course Contents: Facts about Deficits and Debt. Kotliko¤ (1987). 2nd Edition Carl Walsh (2003) Monetary Theory and Policy. The goal of this course is to develop and use a dynamic theoretical model of individual decisions and study how government tax and transfer policies. Recommended Books • • • • There is no single set textbook. Michael Woodford (2003) Interest and Prices: Foundations of a Theory of Monetary Policy. inflation targeting Current issues in monetary policy: Liquidity trap. Public debt and budget deficits. Dynamic Fiscal Policy. The General Life Cycle Model. H rs . 2nd Edition McGraw-Hill. • ECON 013 Fiscal Policy This course will discuss the impact of Fisscal policy on individual behavior and the macro economy. Comparative Statics and Borrowing Constraints. Consumption. The Government Budget Constraint. David Romer (2000) Advanced Macroeconomics. Social Security and Social Insurance. and Stanley Fischer (1989) Lectures on Macroeconomics. government debt and deficits afect these decisions. Monetary Tansmission Mechanism The Science of Monetary Policy: Monetary Policy framework. Ricardian Equivalence: Origin. 2nd Edition. MIT Press. Princeton University Press. Cambridge University Press.The Mechanics of Monetary Policy: Monetary Operations. Optimal monetary policy. Cambridge 68 . Fiscal Monetary-Exchange rate policies mix. Poverty. A. income distribution and socio-economic development in SA: fiscal and social policy issues. great moderation. Blanchard.

Rural Development Strategy. (2002). Public Finance. Rural Development Planning: Rural Integrated Development Program Including Location. Socioeconomic and Political Organizations. Means and Relations of Production. People and Resources. Modes. Potential for Development. NGOs and RSPs Vision in Rural Development. ECON 014 Rural Development Objectives Introduction of the structure of the rural economy encompassing socioeconomic set up. Illiteracy. Diversification of Rural Economy. H rs . Poor Health. Poverty. Design and Evaluation of Rural Development Projects. 6th Edition. S. Rural Development through NGOs. Rural Development Programs Before and During Eighties. W. Mc-Graw-Hill. evolutionary planning process of rural development & familiarization of students with the rural scene of Pakistan. Utilities and Services. Power Structure. economic and environmental problems to the students. Underdeveloped Infrastructures and Environmental Degradation. Oxford University Press. Course Contents Structures of Rural Economy: Land. Household Dynamics. developmental status and core social. Peoples Participation. 3rd Edition. Role of Voluntary Agencies in Rural Development. People. Local Organizations for Rural Development. and C. Economic Growth and Policy. 3 C r. Rural Scene in Pakistan. Theories of Rural Development: Basic Needs and Community Development. A European Text. Lord. Rural-Urban Nexus of Development and Other Approaches. Impart knowledge to the students about the historical background. and Infrastructures. Unemployment. M. Rural Resource Allocation.• • • • • • University Press. Rural Development through Local Government. Oxford University Press. Modernization of Agriculture. Rural Development in Pakistan: Historical Background. Land Reforms. Government Plans and Policies. Village Aid Program. Macroeconomics. Use of Improved 69 . Rural HRD. Burda. (2002). Basic Problems Including Traditions. Introduction. Rosen. Wyplotz (2001).

Deep and Deep Publication. African Development Report 2002. Anmol. Impact of Integrated Rural Development Programme (IRDP). S. ECON 015 International Trade Policy Objectives The aim of the course is to introduce the students into the main facts of the theory of international trade.. F/Clark. Interdisciplinary Theories of Rural Development. Progressive Publishers 1988 James. Improving Traditional Rural Technologies. J. Jai Press 2006 Hasan. 2005 Dar. Community Organizations and Rural development.C. G. Poverty in the Non-Modern Sector. Rural Development: Principles and Practice. Vanguard 2001 Khana. New Delhi Shoaib Sultan Khan. Agriculture and Rural Development. as well as to demonstrate principles of applying basic models Course Contents Introduction. Impact of Rural Support Programmes (RSPs) on Rural Households. H rs . Recommended Books • • • • • • • • • • • • • • Malcolm Moseley. Rural Urban Interaction in the Developing World. Jeffrey. Ibnul. U.. Vikas Publishers. Macmillan Press 1989 Kenneth Lynch. Impact of Integrated Rural Development Programme. 70 . Rural Development in South Asia. Integrated Rural Development in Pakistan. Routledge 2005 Khan. B. B. Washington D. Towards A Theory of Rural Development. The aims and the plan of the course. Rural Development: Principals and Policy Institute of Rural Management (1999) Desilva. Deep & Deep Publications 1992 Khanna. 1982 The African Development Bank. Mahmood Hasan.. Rural Development in South Asia. Sage Publications 2003 Young. Haque. Sterling Press Limited 1989 Kator Singh. Rural Development in Pakistan. New Delhi 1992 3 C r.Technologies. Oxford 2002 World Bank.

Srinivasan T. In: D. (1992). The basic facts of the General Equilibrium theory.E.B. Theory of International Trade.. The notion of a good assotiated with a given factor. Harper Collins College Publishers. Falvey. The comparative advantage principle in strong and weak forms. Cambridge MA. Norman. Recommended Books • • • • • Dixit. 2. The International Economy. Theorems on the gains from trade.R. M. The role of the government in the processes of international trade. V. 1. Generalizations. Is it possible that a country becomes better off by making a unilateral gift of a certain good to another country? Immiserizing growth. The relationship between the per-unit labor costs and the autarky prices.N. Multinational corporations. Comparative advantage and technological differences. Autarky equilibrium and the gains from trade. The MIT Press. The hypothesis of relative abandance of a factor. The direct investment effect.Obstfeld.N. The testing of the Ricardo’s model.The weak form of the relative abandance hypothesis for the general model: local and global versions. The effect of the labor migration on the international equilibrium. 4.Winters (eds). 3. measures of abandance. A. Kenen. The Richardo's model. The outline of the course. The influence of international trade on the income distribution and the Hecksher-Ohlin model. Theory and Policy. Cambridge University Press. Cambridge University Press.A. (1994). L. Comparative advantage and the factors of production. Autarky equilibrium. The Theory of International Trade. Lectures on International Trade.. (1994). The Richardo-Viner model. The factor price equalization issues.. Comparative statics & the factor movements between countries. The Stolper-Samuelson and the Rybchinskii theorems. P.Greenaway. (1994). Surveys in International 71 . (1994). Bhagvati.The subject of International Trade. The main questions and puzzles: the structure of international trade and the world price ratios. J. International Economics. R. The Hecksher-Ohlin Model. Krugman.K. P. The verification of the Hecksher-Ohlin model: the Leontieff's paradox.

B.A. (1994). Massachusetts (ch. 5-7). L.P. Rethinking international Trade. N.O. Introduction to international finance. H rs . Foreign Exchange Market and Exchange Rate Determination Foreign Exchange Rates (F. The Marshall. Forward Exchange Market. Capital Flow and Speculations. Speculators.O. 72 . J. Mechanisms and institutions for financing. ECON 016 International Finance Course Contents Introduction.E.Winters (eds). Factor Price Convergence in the Late Nineteenth Century. Hedgers and Traders.O. Trade Policy and Market Structure.P.O.P.R Market.Williamson.R.O. Determinants of Foreign Exchange Rate. L. Oxford.R): What it represents? Real. Effects of Stabilization Policies. Funding Mechanism of International Intuitions. In: D.P. Dynamic Theory of Interest and Exchange Rate. 66-107. (1994).O. Surveys in International Trade.P) Purchasing Power Parity (PPP): Non-Trade Goods. 499-529. E.Taylor.37. Oxford. Monetary Approach to B.Helpman and P. Methods dealing with undesired Short-run Capital Flow.P Support. Blackwell Publishers.Greenaway. Surveys in International Trade. K.M. Efficient F.. Monetarist Critique to the Keynesian Closed Economy Model. Testing Trade Theory. (1996). E. 1994. v. Adjustment with Short-run capital Flow.O'Rourke.E. WTO and B. The MIT Press.Winters (eds).R.E. Cambridge: The MIT Press. Blackwell Publishers.O.O.E. Purchasing Power Parity. D. 1994.Krugman (1994). 9-43. pp.R. Laussel. Strategic Trade Policies. In: D.P.A. P. A. Test of Exchange Rate Instability. Interest Arbitrage. B. Interest Parity Theory. pp. Cambridge. Blackwell Publishers.G. Montet. The Theory of Spot Exchange Rate Determination. Leamer. Krugman. 1994. 177-206. Rate Instability.Greenaway.P: Income Absorption Approach to B. International institutions. Exchange Rates and Balance of Payments (B. (1994). August.H. Nominal and Effective Rates. C. Oxford.• • • • • Trade.3. Balance of Payment Effect. International Economic Review.Larner Conditions. 3 C r. pp. Elasticities of Exports and Imports and Impact on B. Forward Exchange Rate Policy. Empirical Tests of Monetary Approach to the B. Impacts of F.

saving 73 3 C r. Latin American Debt Crises. Euro-Dollar. Debt buy back etc. Policies to combat debt problem: Forecasting debt and solution for debt burden. Monetary and Fiscal Policy with Fixed Exchange Rates. Optimum Interest Rate. Aid commitments and disbursement. .. Why disagreement on International Movement of Labour? Welfare Impacts of Labour Movements.O.P Support and Stabilization. IMF Credit Facilities. H rs .O. Problems of Small Country: Fixed Exchange Rate. The Optimum Quantity of Reserves. Competitiveness Issue.Open Economy: Monetary and Fiscal Policy Monetary and Fiscal Policies: Internal and External Balance. Free Floating Exchange Rate. Aid/Assistance. ASEAN Crises. ECON 017 Development Policy Course Contents International Debt. and New Role of World Bank and IMF Why international borrowing? Two Gap Model. Loan Mechanism. Special Status of Developing Countries and Net Food Importing Countries. Motive for Capital Movement: Return and Risk Diversification. International Institutions and Flow of Capital WTO: GATT and Emergency of WTO. A Random Walk Model of Payment Imbalances. Debt laffer Curve. Debt Cycle Theory/Stages. Protections under WTO Rules. International Movements of Factors and Welfare: Impacts / Issues Facts on International Capital Flow: ASEAN Crisis and Role of International Institution and Criticism. Introduction of International Institutions. Critical Review of the Modern Theory and Adjustment Mechanism. Debt Overhang and threat to growth.P. Debt Burden: Debt Servicing. Debt Problem of LDC’s and South Asia. Sources of borrowing.O. Dollar Exchange and Impacts. Why necessary to Join WTO? WTO: Expected Impacts on Trade. What Counts for wage Differential Between Primary Goods Producer and Value Added Goods Producer. Fiscal Policy and Temporary Payment Imbalances. Managed Exchange Rate and Critical Review of The Fiscal – Monetary Mix Models. how much and how long? CentrePeriphery Theory. Value of SDRs. Losses of National Sovereignty. Liberalization and B. Factors of Production and Price Equalization Issues. Are Free Trade Gains more than Restricted Trade? Gains for whom.P. International Institution: Trade. Monetary Policy and Permanent Payments Imbalances. Role and Major Activities of IMF. Can Developing Countries Compete and Gain from Trade: Terms of Trade due to Demand Pattern and its Impacts. Role of IMF in B. Capital and B.

Transfer of resources from agricultural to industry. WTO. Market Based Approach and Externalities. Strategies and tools to combat poverty. Urbanization and environmental issues. Aid. Empirical evidences on poverty. Basic Needs. Foreign Direct Investment (FDI) and Its Determinants/Role. production and need for Reforms. Use of Pesticides and Environmental Impacts. Trade Instability. International awareness about environment. Migration and its role. How to combat income inequality. Social Action Programs and Poverty alleviation. Economic thoughts and Environment. Poverty Indicators. Long term cost of TNC’s. International Agencies: Environmental concerns and programs. Human Capital and its development / productivity. Relative Poverty.P Problem. Poverty concepts/definitions. Foreign Direct Investment (FDI) and MNC’s.O. Liberalization of Trade and its impacts/gains etc. Poverty of Opportunities Index (POPI) and Calorie-based approach etc. Debt rescheduling etc. Expenditure approach. Ecology and economic progress. Industrialization and its environmental cost. Basic needs approach. Role of GATT and its Failure. Redistribution with growth.. FDI and Development Multinational Corporations (MNC’s): Objectives. Urban unemployment. Direct and indirect taxation. Deforestation and Renewable Resources. Transfer of Technology: Ways and Means. Environment and Development Model of Environment and Economic Activity. Flow of FDI and its contributions. Measuring environment values. Growth and Income Inequality in the world. Natural resources degradation. Deforestation and Macroeconomic Environment. Multinational Corporations (MNC’S). Trade led Growth. Global integrated production system: MNC’s and Globalization. Absolute Poverty. impacts and policies to combat poverty. Cost of Pollutions/Environmental degradation. Poverty and Income Distribution Definitions and Measurement of Poverty/Poverty Line. Sources. Debt Modeling and Forecasting Future Implication. Industrialization and Small Manufacturing enterprises (SME’s). Savings and forced savings. Role and Contributions.mobilization/Domestic resource mobilization. Solution to debt Problem. Poverty by socio-economic groups. Sustained development. Resource Mobilization and Industrialization LDC’s Inflation and Deficit B. Foreign Exchange Constraints and Balance of Payment deficit. WTO and LDC’s. Liberalization and International Trade Trade vs. Income approach. 74 .

Poverty and Development. Good Governess. inequality situation. 2003. Interaction situations and the types of norms: prisoners' dilemma-type situation. Rauch. Determinants of exports growth. Basis for trade and benefits: Gains from Trade: Static and Dynamic Gains. Oxford University Press Stiglitz. Economic Development. Institutions and LDC’s. Leading Issues in Economic Development. Institutional 75 . Gerald M. Frontiers of Development Economics: The Future in Perspective. Neo-classical growth theory. industrial organization. game theory. Trade as an engine of growth. Regional Trade Associations (RTA’s): their role and contributions. Product Cycle. Second Edition. Technology Centered Development and Appropriate technology issue. Allen. Introduction to institutional analysis . Before studying institutional economics students should master not only the fundamentals of general economic theory but have knowledge of the historical courses and humanities as well. Pre-Requisite : It is assumed that the students should be familiar with the following courses: Microeconomics and Macroeconomics. Institutional Economics. 2000. Recommended Books • • • • Meier. co-ordination situation. Oxford University Press/The World Bank 3 C r.Distribution of gains from Trade liberalization. endogenous growth. economic history and history of economic thought. Transfer of Technology: Sources & Need. Oxford University Press. Institutions and organizations. and James E. 2000. Role of Institutions in Economic Development. Todaro. ECON 018 Institutional Economics Objective: A course in "Institutional economics" accomplishes a series of courses that constitute the basic training for economists. H rs . and Stephen C. The concept of institution: attempts at definition. Joseph and Gerald Meier. 2001. Growth Models Harvard – Dormer Model. Michael P. Comparative Advantage. Enforcement characteristics. Pearson Education Limited. 1. Seventh Edition. Revealed Comparative Advantage and Competitiveness. Smith. Functions of social institutions. Institution’s and Market. Tim and Alan Thomas. Technical change.

Formal and informal institutions. endowment effect. unrealistic assumption about zero transaction costs). Transaction costs: The concept of transaction. strategic behavior and the problem of holding-out. The emergence of property rights. Interest-groups and rent-seeking in the Russian economy. The limits of imitations of institutions from best-performing countries. The first economic revolution. 3. Reputation as a contract enforcement device. Property rights in different legal traditions (common law and civil law traditions). Assigning of property rights: the internalization of externalities. Communal property. Interaction of formal and informal institutions. Alternative property rights regimes. The Coase Theorem. Transaction costs as friction in the economy. Optimal group size. 76 . The interest-group theory of property rights. bargaining and decision costs. The definition of property rights. 2. Ideal model of "perfect reputation". Sanctions for disobeying norms (self-enforcing sanctions. sociological critic. Moral and economic aspects of private property. Common property (open access) and the tragedy of the commons. Conditions of norms' effectiveness. attenuation of property rights. partitioning of property rights. Types of market transaction costs and means of transaction costs minimization( search and information costs. Shortcomings of the reputation as a contract enforcement mechanism. Critic of Coase (dynamic effects of alternative legal rules. Market and intrafirm transactions. Reputations aided by institutions. The property rights approach: some basic concepts. Comparative advantages and shortcomings of the legal enforcement mechanism. informational sanctions. guilt. Old institutional economics. Exclusive property rights and the conditions for their emergence. The optimistic theory of the emergence of property rights (naive model). Private property. distributional effects. wealth effect. Interdependency between transaction costs and transformation costs. The problems of their enforceability. Reputation and the "free rider problem". shame. The costs of collective action. supervision and enforcement costs). measurement costs. Contract enforcement in contemporary Russia. The theory of rent-seeking.structure of a society. The New Institutional Economics and modern institutionalism. Transaction costs and transformation costs. the bundle of rights. Public property. multilateral costly sanctions). bilateral costly sanctions. Specification of property rights.

Explanations of the firm in the new institutional theory (F. incentive contracts. Freedom of contract. R. Controlling and preventing moral hazard (controlling the agent. Types of trust ( contractual trust. screening and self-selection. Comparative analyses of the alternative coordination forms. A theory of the owner-monitor. 77 . The new institutional theory of the state: Social mechanisms for constraining open access. 5. types of specific assets. Coase. Explaining the internal structure of formal organizations: transaction costs approach. partnerships. Separation of ownership and control in the open corporation. A.Hart).4. 6. open corporation. Economic approach to trust. Alchian and H. Institutional environment and its role in the choice of contract. regulated firms. Kreps: the trust game. do-it-yourself method). GM and Toyota: different models for solving the problem of safeguards for specific investments. Asset plasticity and moral hazard. Case study: crisis of the savings and loan associations in America as an example of moral hazard in financial markets. hybrids and hierarchy. quasi-rents appropriation and hold-up problem. Discrete alternative governance structures: market. A simple principle-agent experiment in the classroom.Knight. Ownership structure of the firm. Classification of contracts (classical. nonprofit organizations. The role of trust. Synergy effects. Asset specificity. Hybrids: specific assets and their safeguards. Contracts: The definition of a contract. Rousseau). Internal market and influence costs. Privatization in Russia and other transition economies: how to control the managers. competence trust and good will trust). Adverse selection and the closing of markets. Bounded rationality and contractual incompleteness. hidden intentions) and opportunistic behavior. Outsider and insider corporate governance. Hobbes predatory theory of the state. hidden information/ hidden action. Opportunistic behavior of the managers and corporate control. neoclassical and relational contracting). O. labormanaged firms). Asymmetric information (hidden characteristics. Attributes of transactions and the choice of a contract. relative advantages of alternative structures (proprietorships.Williamson. Contractual theories of the state (Locke. public enterprises. bonding. Competing forms of economic organization. Principal-agent problem and agency costs. The new institutional theory of the firm: Neoclassical theory of the firm. The boundaries of the firm. Legal and economic approach to contracts. Self-enforcing agreements (Telser) and hostages (Williamson). The market and the firm. O.Demsetz. Signalling.

Vol. (1984) The Markets for "Lemons": Quality Uncertainty and the Market Mechanism" 84 Quarterly Journal of Economics. 2. semi-strong and strong forms). In: Newman P.A. p. (1960) The Problem of Social Cost. Cambridge University Press. Economics.. Roberts (1992) J. Institutions and Economic Behavior.. The problem of compensation of the disadvantaged groups. Posner R. The theory of institutional change: Stability of institutions and institutional change. Institutional change in contemporary Russia. Economics. The role of the state in the process of institutional change. Information Costs and Economic 52 The American Economic Review. The concept of institutional equilibrium. Roberts J. Friedman). Evolution of Property Rights. 168-173 Milgrom P. 7. North D.. pp. . Rent-seeking. Demsetz H. 77 American Economic Review pp. 3 Journal of Law and Economics 1-44 Dahlman C. 777-795 Coase R. (1979) The Problem of Externality. 87 American Economic Review.. pp. 4 Economica. Recommended Books • • • • • • • • • • • • • • Akerlof G. (1987) In: The New Palgrave: A Dictionary of Economics. Organisation and Management. Macmillan. pp. The main sources of institutional change. Centralized and spontaneous institutional change. The New Palgrave Dictionary of Economics and the Law. (1989) An Economist's Perspective on the Theory of the Firm. . Forms of pathdependence (weak form.. 488-500 Alchian A. 141-162 Eggertson Thr. Hart O.Prentice-Hall Int.H. (1972) Production. Institutional change and path dependence. 365-369 Rose C. 386405 Coase R. pp. Tullock G. The regulatory role of the state in the Russian economy. (1997) Social Norms and the Law: an Economic Approach. Theories of selection of efficient institutions in the process of competition ( Alchian. pp. 1757 Joskow P. Organization and Management. Institutional Change and Economic Performance. 78 . 22 Journal of Law and Economics. 1987. (1937) The Nature of the Firm. Milgrom P. (1990) Institutions.L.North's model of the state... (1987) Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets. 89 Columbia Law Review.

Leasing companies. Discount Houses. H rs . regulation and supervision of various components of capital market . 3 C r. Payment System (NIFT And its functions. Why there is need to regulate the financial sector? Why financial sector is most regulated one in an economy? State Bank of Pakistan and its main functions: conduct of monetary policy. i) ii) 79 . iii) Micro Finance Institutions. recent issues in commercial banking. Functions of financial sector: mobilization and allocation of resources. Investment Banks. advisory role. Intermediate Microeconomics. Financial Repression vs Financial Liberalization. Financial Institutions and Current issues Scheduled Banks and their role in economic development of Pakistan: Introduction to commercial banking. ECON 019 Financial Institutions and Markets Course Contents Theory of the Role and Functioning of Financial System Information asymmetric and the need for the role of financial sector. Venture Capital Companies.• Varian H. Mutual Funds. financing technological innovation and development. free rider and principal-agent problems in financial sector to understand puzzles of financial markets. exchange rate policy and management of foreign exchange reserves. dollarization of the economy. Relating to payments system). Housing Finance Corporations. performance indictors for commercial banks. ii) Non-bank Financial Institutions: Development Financial Institutions. diversification and trading of risk. bonds. Assts and Liabilities of a commercial bank. establishment. Some Basic concepts like adverse selection. A Modern Approach. i) Financial Markets and Current Issues Functioning of Money Market (Primary and Secondary Dealers Capital Market (Stock exchanges and Various Components of capital markets – Securities. structure of commercial bank in Pakistan. Financial system and its relationship with the rest of the economy. equities. promotion. debentures) iii) Foreign Exchange Market and its evolution. pooling. Growth and stability of financial system. Modarbas. establishment. SME Banks iv) Insurance Companies – the rationale and role. regulation and supervision of depository institutions. moral hazard. Securities and Exchange Commission of Pakistan and its functions: promotion.

Financial Institutions and Financial Markets. BCO. Prentice. L. 9th edition. 3 C r.Hall London (1996). Zaidi. 1984.” Karachi. Evolution and Organization of State Bank of Pakistan” www. 2nd edition. “Issues in Pakistan Economy. 7th edition. “Functions. Banking. Akber (2005). Electronic Banking and its prospects Recommended Books • • • • • • • • Fabozzi. Ritter. Chapters12.L. 80 . Cartel Equilibria as example of Imperfect Public Monitoring. Arby. 2003 and onward. Muhammad Farooq (2004). 13 SBP Annual and Quarterly Reports SBP Financial Sector Assessment: 1990-2002. and Peterson. Accounting Standard. Corporate governance of banks and other financial institutions. ECON 020 Game Theory Pre-requisite Mathematics and Statistics Objectives The course is dealing with some topics in repeated games. and Financial Markets. Basic Books. F. F. R. Capital Markets. The special attention is devoted to the issue of cooperation among the players when they do not observe the actions of each other.sbp. New York. S. 13). Auditing.Financial Infrastructure Legal Framework (SBP Act 1956. Communication in Private Monitoring Games. Folk Theorems with Imperfect Public Monitoring. chapters 2 History of State Bank of Pakistan (Volume – 3. Mishkin (2003). and Modigliani. SBP Prudential Regulations). H rs .org. Course Contents Introduction to Repeated Games and Folk Theorems. The Economics of Money. Human Resource Development|(Skill and Training) – Importance for functioning of financial sector. Folk Theorems with Imperfect Private Monitoring.

” JET.” Econometrica. D.” Econometrica. Porter. 2002. “Private observation. and Porter R. 102.. “The Folk Theorem with Imperfect Public Information.” JET. D.” Econometrica. 1994.” Econometrica. H rs . J. “Introduction to Repeated Games with Private Monitoring. Valimaki. Tirole “Game Theory”. and D. Demand Analysis: Estimation and Forecasting The Basis for Demand. Theory of the firm. 102... “A Robust Folk Theorem for the Prisoner’s Dilemma.”. communication and collusion. 313-338. Oxford University Press.. “Optimal Cartel Equilibria with Imperfect Monitoring. 66. Osborne “An Introduction to Game Theory”. “Toward a Theory of Discounted Repeated Games with Imperfect Public Monitoring. Morris. “Repeated Games with Almost-Public Monitoring. 87-100 Kandori M. 2002. Supply and Equilibrium. Econometrica. D.. 39. MIT Press. Maskin. “Communication in Repeated Games with Imperfect Private Monitoring. 4..” JET. 1986. Oxford University Press. The Market Demand function. 9971040 Green. “Non cooperative Collusion Under Imperfect Price Information. Optimal Cartel Trigger-Price Strategies. Economic relations of variables. 1998. D. 62. and J. Ely. 29. R. 58. 627-652 Kandori M. 2002. Pearce and E. 189-228 Martin J. JET.” JET. 66. Price Elasticity of Demand with Managerial 81 . ECON 021 Managerial Economics Course Contents Nature. and D. The Managerial decision making process. Demand..Recommended Books • • • • • • • • • • • • • Abreu.”. Stacchetti. 102.5 Fudernberg. 3 C r. The Incremental concept in Economic Analysis. E. 597-626 David M. Ch. 84-105 Fudenberg. Economic optimization. Cost Minimization. and Matsushima H. and S. and J. Scope and Overview of Managerial Economics The Nature and Scope of Managerial Economics. Pearce and E. 52. 1041-1063 Compte O. 251-269 Abreu. Demand sensitivity analysis: Elasticity. Stacchetti. D. 1996. 1-15 Mailath G. Profit maximization. Levine and E. 1984. 1990. 1998. 1983. Kreps “Game Theory and Economic Modelling”.

The Expected Value Criterion. Productivity Measurement. Capital Budgeting and Investment Pre-requisites of Capital Budgeting. Contestable Markets. Monopolistic Competition. Cost-value-profit analysis. Externalities and Market Pricing issues. Perfect Competition. New Product Pricing. Oligopoly. Government Policy and International Trade. Maximin Criterion and Minimax regret criterion. Investment Criteria and Decisions. tariff and pricing. The Standard Deviation Criterion. Monoposony and Price Product. Profitability-Index Criterion and other criterion. Rent seeking and control. Homogenous and Homothetic Production Function. Marris’s Model of Managerial Enterprise. Pricing Strategies for Firms and Market Power. The Coefficient of Variation Criterion. Decreasing cost Industry and pricing. Monopolistic Competition. Public Sector Production and Pricing of Goods Public and Private Goods and their pricing mechanism. The Maximax Criterion. Limit Pricing and Preventing entry. Price Discrimination. 82 . Optimal decision Strategy. Risk Analysis of Decision Alternatives. Decision Making Under Risk and Uncertainty Introduction. Marginal and Average Product. Mark up pricing.applications. Production function estimation. Optimal Capital Budget. Income Elasticity of Demand with Managerial applications. Internal Rate of Return. Demand forecasting. Pricing Analysis and Decisions A Review of Market Structures and Basic Pricing Models. Import Competitiveness and tax. Selected Pricing Models. Adjustment for Risk in Decision Making. Williamson’s Model of Managerial Discretion Topics. Monopoly. Revenue and Cost in Production. Behavioral Model by Cyert and March. Cost estimation. Production and Cost Analysis Production functions. Cash flow estimation. International pricing Techniques /Strategies. Marginalist Pricing. Learning curves and application. Short run and long run cost curves. Application of Regression Analysis: Demand estimation. The Certainty Equivalent Criterion. Managerial Theories and Models of the Firm Baumol’s Theory of Sales Revenue Maximization. Total. Oligopoly Model. The Decision Tree and Joint Probabilities.

and P Young. Modern Microeconomics. (latest edition).. Thomson South-Western. Dryden Press. (2003). W. (1992). James. (4th Edition) Pearson (2003). Mansfield E. Knowledge. Economic and Political Integration. Keat. J. Managerial Economics.. (2002). Theory of Exclusion. key Social and Economic indicators. A. Baye (2000) Managerial Economics and Business Strategy. Koutsoyiannis.S. Conceptualizing the Changing Global Order. Kent P. (1998). Regionalism in the Asia-Pacific Political Globalization and the Competition State. Pappas. D.. MacMillan. (1979). Chicago. Policy Reform and Popular Organization. Political Economy and World Order Problem of Power and Knowledge: New Millennium..A. Theory.. New State Actors. Brigham Eugene F and Hirschey Mark. Young. Fundamentals of Managerial Economics. Hirschey. Political Economy of Economic Development 83 . Nortion & co. McGraw Hill. Managerial Economics: Economic Tools for Today’s Decision Makers. Hirschey. (1998). Regional Phenomena and State Order. W. Regional Dynamics Regionalism and Globalization. Managerial Economics. H rs .. and P. Maurice. Pappas. McGraw Hills. Managerial Economics. 3 C r. E. Political and Economic Institutions and their role in decision making. Application and Cases. Economic Blocks and Political Blocks. (10th edition) U. Dryden Press. M. Linkages of Politics and Economics. Managerial Economics. Thomas. Michael R. Managerial Economics: In a Global Economy (7th Edition) New York: McGraw Hills... Prentice Hall. The Political Economy of European Integration. and J. Managerial Economics. M. Politics and Neo-Liberal Political Economy. P.. (1990). MacMillan. • • • • • • • • • ECON 022 Political Economy Course Contents Introduction Meaning.Recommended Books • • Douglas.L. Salvatore. New Voices in the Globalization Debate: Green Perspective. Definition and brief Introduction of basic Concepts of Political Economy. Manageral Economics.. (2001).

Housing. International challenge of poverty. Regional Exporting Blocks and their Markets. Trends of Trade with SAARC. Environment and Externalities. Poverty. Issues in Lawlessness and Development Introduction. Opening up of Services Sector and its benefitries. Strategies for self-preservation. Unemployment. Will there be free mobility of factors of production? Capital. Capital Mobility and Global Order. Global Issues Global Issues in Historical Perspective. Cooperation with Regional NGO's in South Asia. Socio Economic Developments & Crime A Review of Socio-Economic Situation in Pakistan. Economic Development. Oxford University Press. Theories of the Economic impact of Law & Order. Nadeem (2002). Different Regimes. Future Economic Prospects of SAARC. Agriculture and Industry. Multinationals: Objectives. Direction of Foreign Trade. The Political Economy of food grain prices. H. Economic Crimes. Big Businesses and New Trade Agreements. Urbanization. Political Slogans and their Implementation. Health Hazards. Pakistan . Recommended Books • Azhar. Poverty Eradication. Trade Blocks. Sector Specific Development Limitation. Pakistan: The Political Economy of Lawlessness. Emerging Economic and Political Issues and their linkages. The Political Economy of Reforms. Contribution and their Mobility. A military Theocracy. SAARC: Political & Economic Aspects Economic Aspects. the Role of State. Poverty and Governance etc. Juvenile Delinquency. Ethnic conflict.International Politics and Transfer of Technology. Political Economy of Pakistan The Economics of Patronage. Regionalism. The Group of Seven and Political Management of the Global Economy. Emerging World Financial Order. 84 . Trade & Economic Cooperation. labor and entrepreneurs etc. Seven Pillars of good Governance. Foreign Trade Trends in External Trade. Rural Development. Terrorism & Insurgency. Pakistan and SAARC: Composition of Trade.Dynamics of Elitist Model.

Hussain Ishrat.. Pakistan. The Political Economy of Pakistan 19471985. Szentes J. (2000). Transaction costs theory explaining appearance of firms. specialization level and advantages of firms as a means of production. The Political Economy of Globalization.S. The students are presumed to be familiar with the standard courses in micro. Production scale. Stubbs Richard and Underhill Geoffrey R. Dominant Publishers and Distributors. Oxford University Press. Debt and Deficits.. KPI. Course Contents Theory of a firm: What is the firm and why is it organized? A firm as an alternative to a market.. Pakistan.). the theory of imperfect competition. (1999). Kher. (2004). Optimal size of a firm (of a number of hierarchical levels). London and New York. R. and the theory of economic regulation.• • • • • • • • • Gupta. Hierarchical firm structure under oligopoly. Kardar Shahid. The Economics of Development. Dev. Noman Omar (1988). Oxford University Press.and macroeconomics.and macroeconomics at the graduate level. Reform and Management of Pakistan Economy. (Latest eds. Political Economy and the Changing Global Order. Inc. Oxford University Press. SAARC: Political & Economic Aspects. (Latest eds.) Hagen Everett E. H rs .D. Budapest. 3 C r. Akademiai Kiado. the Economy of an Elitist State. Progressive Publishers. Richard D.). Hierarchical firm structure and its efficiency. 85 . The Political Economy of Pakistan. This course will cover all the three main fields of industrial organization theory: the theory of a firm. The Political Economy of Underdevelopment. (2004). Irwin.(Latest eds. S. (Latest eds. Dollars. Kluwer Academic Publishers. ECON 023 Industrial Economics Objectives The course analyzes the problems of the real economy that cannot be described within the framework of a classical economic theory that is taught by traditional micro.).

Mergers of firms with differing production costs. Herfindal-Hirshman index as a measure of public welfare. Condition of industry output increase. 86 . and Monopolistic Competition Markets for differentiated goods. Stability of equilibrium states. Compensated and equivalent variations. Price discrimination and bundling. Superiority of mixed bundling relative to pure bundling. Mergers and Acquisitions. Welfare implications.Consumer Surplus and Public Welfare Estimation of public welfare within the framework of partial equilibrium analysis. Quadratic transportation costs. Product Differentiation Location Models Linear city. resulting from a merger. The problems solved by consumers and producers. pure bundling strategy. Condition of a merger profitability. linear transportation costs. Heterogeneous consumers. Reaction of a firm to a change in output by all other firms on the same market. Mergers of firms with identical production costs. Pure components strategy. Conditions for mixed bundling strategy to be dominant over pure components strategy. Market equilibrium under free entry conditions. Public welfare and Hicksian and Marshallian demand functions. Increasing Returns to Scale. Vertical mergers and profits of integrated and unintegrated firms. Economic Theory of Bundling Bundling as a marketing tactics. Horizontal mergers and public welfare. Independent distribution of reservation prices. Horizontal Mergers and Acquisitions Types of mergers and acquisitions: horizontal. Examples of mergers and acquisitions within the last decade. Effects of fixed costs and market size on product diversity and output. conglomerates. and mixed bundling strategy. Commodity bundling and consumer surplus. Consumer surplus as an approximate measure of public welfare. Homogeneous consumers. Differentiated Goods. Vertical Mergers Effect of a vertical merger on output of final and intermediate products. Condition under which horizontal merger results in higher public welfare. vertical. Quasilinear utility function and measure of public welfare. Circular city. Vertical mergers and market foreclosure.

Industrial Agglomeration Phenomenon of industrial agglomeration. Explanations of price rigidities: kinked demand curve. The delegation and revelation approaches. “Hub and Spokes” system and its efficiency. Price discrimination and nonlinear tariffs as a means of increasing efficiency of a regulated monopoly. Patent race. Deadweight losses. Regulating monopoly under asymmetric information. Market monopolization and price rigidity. concavity of a cost function and subadditivity. Socially optimal and market investments into R&D. 87 . corrective taxes. Price rigidity as a source of business cycles. Subadditivity of cost function – a necessary and sufficient condition for a natural monopoly. Airlines Effects of deregulating air companies. A simple model of industrial agglomeration: two regions. Increasing returns to scale as a driving force of agglomeration. Externalities. Exogenous mechanisms of regulation. External and internal mechanisms of increasing returns to scale. Contestability of a market. Peak-load pricing. Multiple equilibria and hysteresis. The role of transportation costs. Economics of Innovations Model of the innovation process. Stability of a natural monopoly. History of regulation after World War II. a share of immobile factor on industrial agglomeration. When should natural monopolies be regulated? Demsetz competition for a market. Incentives for innovations. Economy of scale. Analysis of Particular Industries and Enterprises. Theory of Regulation Public costs of monopoly. Small menu costs and large business cycles during economic booms and busts. and market structure. Averch-Johnson model. Imperfect Competition and Macroeconomics (1 lecture). Stability of distributed and agglomerated equilibria. Regulation under complete information. Increasing returns to scale and stability of economic equilibrium. menu costs. Effects of transportation costs. Patent life. Market structure and innovation efforts. fixed costs. Possibility of a negative effect of Pigou tax on public welfare under monopoly. Endogenous mechanisms of regulation. sunk costs and regulation. Theories of business cycles. Competition and market size – the main factors affecting the process of industrial agglomeration. two production factors (perfectly mobile workers and immobile farmers).

etc. etc. 67.Theatres and restaurants Why in developed market economies there are queues in theatres. and L.. 1991.. American Economic Review.. Market equilibrium. book publishing. and rent dissipation. Schmalensee and R. Behavior of the Firm under Regulatory Constraint. 99. Demand and supply structure..? Network externalities in services consumption and nonmonotonicity of demand function. Recommended Books • • • • • • • • • Adams W. Corrective Taxes. Johnson. vol. Willig. 1982. Willig eds. American Economic Review. 1969. Willig eds.M..L. 1052-1069. A Note on Restaurant Pricing and Other Examples of Social Influences on Price. 174177. earn a lot of money and dominate on markets? Effect of imperfect substitution: lesser talent is a poor substitute of larger talent. External Diseconomies. J.D. Panzar. XC. 1976. sports. 1109-1116. and limitedness of prices and supply of services. Design of Regulatory Mechanisms and Institutions. vol. Economics of Show Business Why relatively small number of people in show business. 713-719. restaurants. Journal of Political Economy. depending on talent.J. corresponding to profit maximization.: The Handbook of Industrial Organization.. Elsevier North-Holland. 475-498. Quarterly Journal of Economics.. vol. Averch H.D.J. vol.H. 88 . Convexity of revenue function. 297-308. Outstanding performer and rent value. and R. Contestable Markets and the Theory of Industry Structure. Coase R. vol. in R. vol. American Economic Review..C. and Market Structure. 52. American Economic Review. Optimal Policies for Natural Monopolies. Becker G. The Institutional Structure of Production. 1962. and J. 1992. Baron D. 82. New York: Harcourt Brace Jovanovich. Dependence of demand function on quality. Instability of equilibrium. Baumol W.L. “Commodity Bundling and the Burden of Monopoly”. in R. Braeutigam R. Continuous distribution of performers on talent. Yellen. Diversity. Buchanan J. Elsevier North-Holland.D. 1989. 1989.: The Handbook of Industrial Organization. 59. Increasing returns to scale in show business production. Schmalensee and R.

J. “Multiproduct Monopoly. 1975. Martin S. 1992. 1995. Switzer.. The MIT Press. J. vol..K. Salant S. Krugman P. Quarterly Journal of Economics.J. The MIT Press.• • • • • • • • • • • • Dixit A. 1993. Geography and Trade. McAfee R.A. CIV. W... 1996. vol. The Theory of Industrial Organization. 3. 107126.. M. Journal of Economic Literature. Increasing Returns and Economic Geography. Sharky W. 185-199. Shapiro. Quarterly Journal of Economics. 1991. Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium. 1976. Tirole J. Willig R. Posner R.A. Attributes. Blackwell. 100.P. 1981. Quarterly Journal of Economics. Cambridge University Press. 483-499. and Correlation of Values.. 80.W. Loury G. 1982. Rotemberg J. 19.E. 98. Industrial Organization.. 66. Consumer’s Surplus Without Apology.. 1988. Journal of Political Economy. 345-356. Williamson O. Horizontal Mergers: An Equilibrium Analysis. 99. 1990.... S. Williamson O. vol. Norton & Company.W. Salinger M. Evolution. Varian H. 529-537. The Social Costs of Monopoly and Regulation. vol. The MIT Press. 917-926. 1995. American Economic Review.. vol. vol. Reynolds. Vertical Mergers and Market Foreclosure.L. 807-827. Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly. Geography. 1988. 589-597. XCIII. Quarterly Journal of Economics. vol. The Mechanisms of Governance. Oxford University Press. Development. The Modern Corporation: Origins. vol. Shy O. Monopolistic Competition and Optimum Product Farrel J. 89 • • • • • • • • . American Economic Review. The Relative Rigidity of Monopoly Pricing. McMilan. 1991. Saloner. 83. Krugman P. Whinston.. Quarterly Journal of Economics. Commodity Bundling. and J. vol. The MIT Press. Mankiw G. Microeconomic Analysis. 1979. 77.. Journal of Political Economy.. 1977. 1989.D. and C. and G. vol. 1985. and R. Krugman P. The Theory of Natural Monopoly.. “Market structure and Innovation”. 1537-1568. Stiglitz. Advanced Industrial Economics. 371-383. 395-410.. 77.. American Economic Review. vol... 1983. No. 1987. and Economic Theory.

costs. and Clifford Winston (editors). Recommended Books • José A. Air quality. Meyer. H rs . Meyer. Transportation technology. Transportation costs. Fuel economy and safety. equilibrium. Congestion. Richard C. Washington. D. consequences of its production or lack of production 90 . the Academic Press 3 C r. The Brookings Institution. and how these factors affect the market for transportation infrastructure and services. and Winston.ECON 024 Transport Economics 3 C r. (1999) nEssays in Transportation Economics and Policy: A Handbook in Honor of John R. • • • ECON 025 Health Economics This course is an introduction for advanced economics students to contemporary theoretical analysis of. Intro to microeconomic principles in transportation. Tye. (1999) Economics at the Wheel: The Costs of Cars and Drivers. H rs . basic pricing principles. Essays in Transportation Economics and Policy: A Handbook in Honor of John R. Course Objectives: This course will provide students with the basic concepts and tools for economic evaluation of transportation projects and related investments. pricing. Students should obtain basic skills in the analysis of travel demand and in the valuation and analysis of transportation system benefits. Travel demand.C.: Brookings Institution Gomez-Ibanez. how it is produced. including analysis of travel demand. Gómez-Ibáñez. Tye. Land use. Porter. benefits. and market structure. Pricing alternatives. Contents Economic analysis of transportation projects and transportation infrastructure investment. variations in its production. Public transit. Students should also be able to understand different components of the costs of transportation. . students should be able to apply these concepts to analyze transportation investment decisions. Project evaluation. Finally. Transportation and economic development. empirical evidence on and policy debate about: what and who produces health. William B.

particularly life expectancy. and what does it imply for market versus social or state provision of health care? Have we learnt more since Arrow’s basic insights? Health care insurance as a special sub-topic of insurance. and recent changes. How health and health care has changed in the last century. the last two decades. the last year: an international overview. Demographers’ measures. The distinction between the production of health and the production of health care also a distinction between the production of health and the production of utility. industrial organization. What makes individuals and populations healthier or unhealthier? life expectancy mortality. demand. (Students interested in further applications can find them in Cost-Benefit Analysis). What has happened to Russian mortality in the last century. DALYS. Why health care is almost everywhere a topic for public economics. Introduction The particular problems of health and the economics of health: great uncertainty. Studies of the production of health. Is Health care really different from all other commodities? Are there even partial 91 .Course Contents 1. the last two decades. Measuring Health : Adjusted Life Years: QALYs. Health care as a part of public economics. The fundamental microeconomics of health care Is health care really different from other commodities? Is this market failure irreparable. life years. Tradeoffs in “American” versus “European” systems. DALYs and WHO rankings. Alternate forms of health care provision in the world. How is it done? What should we do now? What is the research agenda? Problems of Health Care Insurance in theory. The health care market: Supply. The alternate private/public mix which has been developed in different countries. What is happening in Russia? What could happen? How should health care systems be compared? Cost-effectiveness and the role of the economist in the health sector: an introduction. 3. major ethical/equity concerns throughout time. Are there parallels? 2. How far have we come? Can we really measure costeffectiveness. morbidity and X-Adjusted Life. Can we produce a single objective function? The debate over WHO rankings. great irreversibility. the last few years? Trying to quantify health care: QALYs. the near-impossibility of separating production from distribution.

Oxford. Petitti DB (2000). Oxford University Press. Methods for the Economic Evaluation of Health Care Programmes. Cincinnati. how much is in-built institutionally? 4. FR (2001). New York. Strategies in Pharmacoeconomics and Outcomes Research. The pharmaceutical market. North Holland 3 C r. Meta-Analysis. Duckett SJ (2004). 2 edition. Stoddart GL. 5. Oxford University Press. Principles of Pharmacoeconomics. Health in transition. 6. It intends to develop a systematic understanding of the economic rationale behind the optimal use of natural resources. The future of health care reform in the world. Bootman JL. Siegel JE. McGhan WF. Harvey Whitney Books. The Australian Health Care System. CostEffectiveness in Health and Medicine. Drummond MF. McGraw Hill. Vogenburg. Oxford. Oxford University Press. with major variations in subject matter between countries and departments. The Haworth Press. Torrance GW (1998). Oxford University Press. Zweifel and Breyer. and particularly Pakistan.cures for problems such as the agency problem? How much is inherent. Introduction to applied pharmacoeconomics. Decision Analysis. 2nd edition. O’Brien BJ. Oxford. New York. Recommended Books • The Economics of Health is one of the newest fields to have its own North-Holland 2-Volume Handbook. Weinstein MC (1996). Pricing of market and non market 92 . H rs . and CostEffectiveness Analysis: Methods for Quantitative Synthesis in Medicine. Townsend RJ. and remains somewhat unstandardized. nd • • • • • • • • • ECON 026 Resource Economics Objectives This course aims to provide the students a broad introduction to the economics of natural resources and the environment. Oxford. Economics of Health. (2005). Russell LB. Gold MR. Rychlik R (2002).

property rights. Clark.resources. Recommended Books • • • • • Randall. Introduction to Experimental Economics Markets and Institutions. H rs . A. S. Handbook of Natural Resource and Energy Economics. economic efficiency. demand and supply of natural resources. New Delhi. The economic concept of value and measurement of environmental and natural resource benefits using nonmarket valuation methods. John Wiley and sons. and R. HNREE-III . Benefit cost analysis. We will study the use of laboratory experiments as behavioral tests of economic theory. Public Goods & Enforcement of Cooperation. Course Contents Economics and environment. prices.Conard. Resource scarcity. Cambridge: Cambridge University Press. ECON 027 Experimental Economics Objectives This is a course in Experimental Economics. Natural Resource Economics: Notes and Problems. Volume II. inter-temporal efficiency. The economics of pollution.Conrad. Amsterdam: North-Holland. and James L.. 3 C r. New York . 1993. Sweeney (eds. which is a growing body of research concerned with testing economic theories with decisions made by people in laboratory experiments. R. Resource Economics. New York CC . 1990. Course Contents I. Jon M. economic valuation principles. Inc. Jon M. Optimal utilization of renewable and nonrenewable natural resources. S.Kneese. Market equilibrium. Economic approaches to conservation of natural resources. application of environmental policy instruments.). 93 . and as tools for market design. Natural Resource Management’ Mohan Primlani for Oxford and IBH Publishing Co. Ganapatty. natural resource exploitation. Allen V. Compathy. Policy instruments to address resource allocation and environmental problems. Conduct of Science and Introduction. 1987. ‘Resource Economics’ An Economic Approach to Natural Resource and environmental Policy. and Colin W. Bargaining & Behavioural Labour Economics. Cornell university . 1987.

Spatial Interactions and Non-monocentric Cities 6. Name Durable Housing . City Sizes: Factory Towns.Investment and Demolition 5. Comparative Statics with Durable Housing: 4. Smith. Cambridge. V. NJ. (2000): Bargaining and Market Behavior. Durable Housing . Cambridge University Press. Designing an Experiment & Experimental Workshop IV. ECON 028 Urban Economics Course Contents 1. Economics experiments building blocks Experimental Design.II. Dynamic Stability: 2. Princeton University Press. Common Value and Multi-Unit Auctions VII. III. A Commodity Hierarchy Model. Princeton. Name Economics of Agglomeration 7. and A. Roth (1995): The Handbook of Experimental Economics. Kagel. Private Value Auctions. 3 C r. Maintenance. Cambridge University Press. H rs . Behavioural Game Theory. A System of Cities. Princeton University Press. D. V. Durable Housing . Sunder. Theory of Residential Land Use The Standard Monocentric City Model: Comparative Statics. Identification of Behavior from Experimental Data V. Davis. D. and C. Holt (1993): Experimental Economics.Development Timing 3. Princeton University Press. Cambridge. and S. (1991): Papers in Experimental Economics. Cambridge Camerer (2000) Behavioral Game Theory. 94 . Smith. Non-expected utility and discounting Recommended Books • • • • • • Friedman. Princeton. Market design. (1994): Experimental Methods: A Primer for Economists. Experiments in the field. Cambridge University Press.Endogenous Maintenance. Asset Markets and Price Bubbles VI. J. Individual Decision Making & Anomalies.

D. and B. Urban Economics Theory. (1989).) Henderson.) Wildasin. (1968). Miles. 15. Land Use for Transportation. S. Regulation of Urban Transportation Services Local Public Goods Taxation: Property Taxes. M. Foresman and Company... Urban Public Finance. Fiscal Zoning The Hedonic Approach Measuring the Benefits and Costs of Urban Externalities The Contract Theory and the Housing Market.. Random House. Hamilton. Y. Academic Press. Financial Markets and the Wider Economy. Tenure Choice. Harwood Academic Publishers: Chur. (1986).J.V. Economic Theory and the Cities. Intraurban Migration. (A standard graduate textbook.) Fujita. Housing.) Kanemoto. SecondBest Pricing and Investment. 9.. (A good survey of recent research on transportation economics with special emphasis on the empirical side.. (An old book. Recommended Books • • Beckmann. Location Theory. Urban Economics. 11. Capital Gains Tax Externalities and Zoning: Externality Zoning. Transportation Technology and Demand. • • • • • • 95 . Demand. Harwood. 14. Fundamentals of Pure and Applied Economics 10. Switzerland. 13. (4th Edition). you should do so in a hurry. (1994). Empirical Studies on the Housing Market: Homogeneous Housing. K.. Supply. If you have not read this book yet. (1980). A.W. Urban Transportation Economics. Wiley. (1985). E. (A book on housing economics with special emphasis on the financial side. J. Cambridge University Press. North-Holland. 12.8.) Small. (1989). (A standard undergraduate textbook.. M. Theories of Urban Externalities. 10. Scott. (2nd Edition). Urban Transportation: Congestion Pricing and Investment. (1992).) Mills. (An up-to-date survey of technical aspects of urban land use theory. Tenure Choice Project Financing in Pakistan. but still the best one in location theory. D. E.

Linkage between Planning and Implementation at grassroots Level. Techniques and Practices of Development. (2003). Course Contents Different types of Regions. Impact of Distance on Classical Economic Markets and Theory of Techniques / Methods / Tools. Spatial and Economic Structure of Regions and Regional Development. Cost / Benefits Analysis of Socially Uplifting Projects. Regional Aims of Planning. H rs . Amazon. High Technology Development in Regional Economic Growth. International Income Differential and Issues. Harvey. Implementation and Progress. Lack of Local Resources and Financing Techniques. Impact Analysis and Project Evaluation. Aggregate and Regional Planning Techniques / Models.. Criterias for Development of Backward Areas. International and Regional Location Analysis of Industries. Project Economics and Planning. Social and Economic Returns to Develop Backward Regions. Social Returns to Local Projects. Micro Level (Regional). Centralized and Decentralized Planning and Financing for Development. Growth Poles.ECON 029 Regional Economics 3 C r. Choi. Need for Planning for Local Level Development. Handbook of Regional and Urban Economics. (2000). Sharing to Finance Local Projects and Benefits. Recommended Books • • • • Armstrong. Policy Implications of Dynamic Externalities. Combining Theory. Inter-industry Model. Amazon. Regional Policies for Development and Regional (Provincial) development in Pakistan. (1990). North Holland. 96 . Planning. Rationale for Decentralization and Functioning of Markets. Factor Mobility. Black wall Publishing Company. Theoretical and Practical Problems of Regional Development Planning. Political Blocks. Hijkamp (Editor). Regional Policies and Regional Economics and Policy. International Inter-regional Economic Growth: Convergence-divergence debate. Craig. Agglomeration Economics and Industrialization Measurement of Regional Economic Activities. Davis H. Shadow Pricing and Socio-economic Development. Homogeneous and Heterogeneous Blocks. Rok-Byung. Theories of Inter-regional Economic Growth. Regional Economics.

and Regional Growth. W. Shrivastava D. Cambridge University Press. (1993) Akbar.S. Philip McCann. New York. 3 C r. (1985). Marketing as a Demand Management Tool. Regional Economics: Theory and Practice. Temple University Press. Amazon. Allied Publications. Richardson Harry. USA. Oxford Univ. (1999). (2000). Philadelphia. Jim. Press. New Delhi. Mcker David L... Regional Development Theories in Economic Prospects for the Turek. (1998). H rs . Taylor. Geographics of Economics. Oxford University Press. Competitiveness. Third World Regional Development: A Reappraisal. (1985). Harry W. M. Localized learning and Regional Development: Specialization and Prosperity in Small Open Economies. Identify and Maximizing linkages within the Various Activities 97 . Regional Economic Modeling: A Systematic Approach to Economic Forecasting and Policy Analysis. Issues in Pakistan Economy. George. Evolution of Marketing. Fujita. (Editors). Winters L. Zaidi. latest edition. The Free Press. (1990). Supply Chain / Value Chain Management Primary and Secondary activities in Supply Chain / Value Chain.. Amazon. Marketing Cost and Price Relationship. Scope of Marketing. Economics of Agglomeration: Cities. Paul Chapman Educational Publishing. Industrial Location. Richardson and Joseph H. Urban and Regional Economics.• • • • • • • • • • • • Lee Roger (ed).W.. ECON 030 Topics in Marketing Course Contents Introduction to Marketing Key Marketing Concepts. H. Kluwer Academic Publishers. Thisse. (2002). (Routledge Functions of Political Economy). Karachi. (2001). Regional Integration and Development. (1997). John Wiley and Sons.. (1970). Importance of Marketing. Alam. Advanced Economics of Development and Planning. and Armstrong. Marshall Peter. Regional Economics and Policy. Treyz. Simon David. Marketing as an Exchange Process.

Marketing Cost. Industrial Marketing. Product Life Cycle. Physical Distribution. Decision making behavior. GE Nine Cell Model and Porter’s Generic Strategies Models of SMP. The BCG Matrix. Retail Marketing. Product Positioning and Differentiation. Exporting. International Corporations and their Marketing Techniques. Product Planning and Development. Consumer’s and Buyer’s Behaviors Consumer Motive to Marketing. Global Marketing. International Marketing. Significance of Prices. International Marketing: The Target Markets & Marketing Mix Identify Target Markets. Kinds of Marketing. Organizational Structure of International Markets. Abuses and Advantages of Marketing Cost Debate over Legitimacy Solution. Financing. Need for Marketing Finance. The Wholesale Market. The Promotional Program. Segmenting Industrial Markets. Models of Consumer. Strategies of Leaders. Market Control. Challengers. Price wars. Industry and Market Concepts of Competition. 98 . Key Pricing Strategies. The Target Market Strategies. International Marketing Strategy and Planning. Channels Conflict and Channel Power. Segmentation and Targeting Significance. Distribution Management and Market Intermediaries Designing Distribution Networks. Product Mix Strategies. Managing Total Marketing Effort Key Organizations for Marketing. Key Elements of Marketing Mix. Marketing Cost for Products. Services Marketing. Managing Marketing in Various Forms of Competition Industrial Analysis. the Key Components of Promotional Mix. Product Adoption and Diffusion. Local Vs. Agricultural Marketing. Finance and Cost Management Analysis of Cost. Product Management The Consumer and Industrial Products. Buyer Behaviour. Marketing Audit. Strategic Opinion. Effectives of Segmentation. Followers and Nichers. Industrial Buyer Behaviour. Reasons for Higher Cost and Methods to Minimize. Influences on Buyer’s Behaviour. Segmentation Variables. Contracting. Methods of Price Determination. Market Targeting. Forecasting Market Demand.Strategic Marketing Planning Process The SMP Process. Advantages of Market Segmentation.

education. Profit and other Motives for Pricing. 3.Pricing Strategies and Sales Theories of Pricing and Value. latest edition. Course Contents 1.W. “The Fundamentals of Marketing” 11th Edition by Etzel. poverty measurement issues. Empirical evidence from developing economies will be use extensively. Prentice Hall. latest edition. This will concentrate on topics such as nutrition and health. Data Analysis and Sales Forecasting. Underlying Causes Institutions. H rs . Mark-up Pricing. Customer based Pricing Methods. Walker & Stanton. McGraw Hill (or latest edition). Tousley. latest edition.. labor markets. 3 C r. Short-run and Long-run Pricing. 5. “Marketing Management: Strategic Approach with a Global Orientation” 3rd Edition by Boyd H. Market Share. Cost based Pricing. McMillan Publishing Co. Predicting Future Conditions Forecasting Sales and difference Pricing Policies. 4. Pricing and Market Orientation. This course will study causes of poverty and underdevelopment. Dumping. Geography Fertility Investments in Human Capital Education and Income Generation Resources and Outcomes Provision of Education 99 . Survey and Price Analysis. “The Marketing Management” Millennium Edition by Philip Kotler. Measuring Poverty. “Principles of Marketing” by R. 6. Prentice Hall. Recommended Books • • • • • • “Basic Marketing” 8th Edition by Jerome McCarthy. and policies to improve wellbeing.. “Marketing” 4th Edition by Evans Burman. intra-household allocation of resources and policies to alleviate poverty. 2.D. w much poverty? Is it getting worse? Measurement difficulties Determinants of Poverty. Economic Choice. latest edition. Proximate Causes. ECON 031 Poverty Alleviation Objectives This course should be focused on developing countries. Supply and Demand Model. 7. Eugene Clark. Competitor based Pricing war.

Morris. Bruce. Chambers. complex. labor Markets Investments in Health. rural livelihoods and poverty. Morris. Department for International Development (DFID). dynamic. Overview. World Development 32(1): 121-136. Caroline. Amartya. World Development 27(12): 2021-2044. 9. Introduction and Chapter 1. Chapter 8. Anthony.55-82: Third World policy approaches to women in development. Poor people’s realities: local. “Escaping poverty and becoming poor: who gains. New York: Pergamon Press. Robert. Development and Underdevelopment: The Political Economy of 100 • • • • • • • • • . Chapter 4. 1997.8. 2004. http://www. 1993. Attacking Poverty. 1993. Wade. and John Passe-Smith. Poverty. Capitals and capabilities: a framework for analyzing peasant viability. Health. (electronic) Chambers. Robert. pp 40-59. 2000. Moser. pp 1-29. Measuring the condition of the world's poor: the physical quality of life index. Development as Freedom. Poverty and social development. Sen. World Development 29(8): 1435-1441. pp 162-187. Challenging the Professions: Frontiers for Rural Development. 1999. Moon. World Bank World Development Report. 1993. Making the World Development Report 2000: Attacking Poverty. 2000. Boulder and London: Lynne Rienner. Anirudh. diverse. Mitchell. New York: Routledge. Bebbington. London: Intermediate Technology Publications. pp 1-6. Whose Reality Counts? Putting the First Last.undp. Basic needs and growthwelfare tradeoffs. and William Krishna. agriculture and rural poverty: why seasons matter. Gender Planning and Development: Theory. and why?” Martinussen. Disease and Investments in Education Child Labor Poverty Alleviation – Transfers and Safety Nets Foreign Aid Recommended Books • • • World Bank World Development Report. pp 119-140 in Seligson. who loses. 10 11 12 Nutrition and Labor Markets. and unpredictable. New York: Knopf. pp 296-308. 2001. UNDP. Overcoming Poverty: UNDP Poverty Report 2000. Practice and Training. pp. Chapter 4. www.livelihoods. United Kingdom. chapter 21. Chapter 10. 1990. Robert.

2004. 101 .) Eviatar. 2003. Development and Change 35(2): 375-383. Gender and Development 9(1): 42 – 52 Institute of Development Studies Bulletin. Juliet Hunt . New York Times Magazine. 2002. (several articles on why people still starve and what to do about it. Pathways to empowerment? Reflections on microfinance and transformation in gender relations in South Asia. and Magdalena Leon. Joseph.• • • • • • contains a lot of material on the “livelihoods” perspective on development and poverty alleviation. Spend $150 billion per year to cure world poverty. November 7. (About Jeffrey Sachs’ crusade to raise foreign aid spending) Deere. Carmen Diana. The gender asset gap: land in Latin America. 2004. World Development 31(6): 925947. 2001. It is possible to just give money to the poor. Hanlon. Daphne. 2004. Nalini Kasynathan. The New Famines.

a) Functional English Grammar 102 . Course Contents Basics of Grammar Parts of speech and use of articles Sentence structure.Annexure “A” COMPULSORY COURSES IN ENGLISH FOR BS (4 YEAR) IN BASIC & SOCIAL SCIENCES English I (Functional English) Objectives: Enhance language skills and develop critical thinking. clause and sentence structure Transitive and intransitive verbs Punctuation and spelling Comprehension Answers to questions on a given text Discussion General topics and every-day conversation (topics for discussion to be at the discretion of the teacher keeping in view the level of students) Listening To be improved by showing documentaries/films carefully selected by subject teachers Translation skills Urdu to English Paragraph writing Topics to be chosen at the discretion of the teacher Presentation skills Introduction Note: Extensive reading is required for vocabulary building Recommended books: 1. active and passive voice Practice in unified sentence Analysis of phrase.

summary and précis writing and comprehension Academic skills Letter/memo writing. Oxford Supplementary Skills. Practical English Grammar by A. Third edition.V. 1997. use of library and internet Presentation skills Personality development (emphasis on content. Oxford Supplementary Skills. Martinet. b) Writing 1. ISBN 0 19 435405 7 Pages 20-27 and 35-41. Third edition. ISBN 0 19 453402 2. c) Reading/Comprehension 1. Oxford University Press. Reading. Brain Tomlinson and Rod Ellis. intensive and extensive.V. Course Contents Paragraph writing Practice in writing a good. Exercises 1. Oxford University Press. Fourth Impression 1993. and speed reading. ISBN 0 194313506 Writing. unified and coherent paragraph Essay writing Introduction CV and job application Translation skills Urdu to English Study skills Skimming and scanning. Thomson and A. Third Impression 1992. minutes of meetings. style and pronunciation) Note: documentaries to be shown for discussion and review 103 .J. Exercises 2.1.J. Suzanne Brinand and Francoise Grellet. ISBN 0 194313492 Practical English Grammar by A. 1997. Upper Intermediate. Martinet. Speaking d) English II (Communication Skills) Objectives: Enable the students to meet their real life communication needs. Thomson and A. Intermediate by Marie-Christine Boutin. 2.

Reading. b) 2. form. descriptive and argumentative writing).Recommended books: Communication Skills a) Grammar 1.J. Thomson and A. Third edition. ISBN 0 19 4534030. Fourth Impression 1993. Upper-Intermediate by Rob Nolasco. Oxford University Press 1986. language. 2. Advanced. c) Reading 1. Writing. content. Brian Tomlinson and Rod Ellis. Martinet. ISBN 0 194354065 (particularly good for writing memos. Reading and Study Skills by John Langan Study Skills by Riachard Yorky. Intermediate by Marie-Chrisitine Boutin. consistency) Technical Report writing Progress report writing Note: Extensive reading is required for vocabulary building 104 . clarity.V. Oxford Supplementary Skills. Exercises 2. Suzanne Brinand and Francoise Grellet. Writing. ISBN 0 19 435405 7 Pages 45-53 (note taking). English III (Technical Writing and Presentation Skills) Objectives: Enhance language skills and develop critical thinking Course Contents Presentation skills Essay writing Descriptive. Oxford Supplementary Skills. Oxford Supplementary Skills. argumentative Academic writing How to write a proposal for research paper/term paper How to write a research paper/term paper (emphasis on style. Writing 1. introduction to presentations. Practical English Grammar by A. ISBN 0 19 431350 6. 3. Fourth Impression 1992. discursive. narrative. Third Impression 1991.

Compiled by norther Illinois University. ISBN 0 19 435407 3 (particularly suitable for discursive. Third Impression 1992. Kirszner and Stephen R. 3. General Editiors: Janice Neulib.Recommended books: Technical Writing and Presentation Skills a) Essay Writing and Academic Writing 1. 105 . Advanced by Ron White. Stephen Ruffus and Maurice Scharton. Kathleen Shine Cain. (A reader which will give students exposure to the best of twentieth century literature. argumentative and report writing). Patterns of College Writing (4th edition) by Laurie G. St. without taxing the taste of engineering students). 2004. b) c) Presentation Skills Reading The Mercury Reader. descriptive. A Custom Publication. 2. Mc=Graw-Hill Higher Education. Oxford Supplementary Skills. Mandell. College Writing Skills by John Langan. Martin’s Press. Writing.

issues arising in the modern age and posing challenges to Pakistan. Contemporary Pakistan a. national development. 1958-71 c. Study the process of governance. Factors leading to Muslim separatism c. Muslim advent iii. contemporary Pakistan. 1988-99 f. 1947-58 b. ideological background of Pakistan. b. Ideological rationale with special reference to Sir Syed Ahmed Khan. Foreign policy of Pakistan and challenges 106 . Economic institutions and issues b.Annexure “B” Pakistan Studies (Compulsory) Introduction/Objectives • • Develop vision of historical perspective. government. politics. Historical Perspective a. Course Outline 1. 1999 onward 3. Location and geo-physical features. 1971-77 d. Indus Civilization ii. Government and Politics in Pakistan Political and constitutional phases: a. People and Land i. Society and social structure c. 1977-88 e. Ethnicity d. Allama Muhammad Iqbal and Quaid-i-Azam Muhammad Ali Jinnah. 2.

Haq. Shahid Javed. Mehmood. 1980. 2.National Movement in Pakistan. Pakistan Kayyun Toota. Lawrence. Lahore: Vanguard. Pakistan’s Foreign policy: An Historical analysis. Wayne. Lahore: Idara-eSaqafat-e-Islamia. Safdar. 2000. Ziring. Islamabad: Institute of Policy Studies. 12. Mehmood. 1976. The Political System of Pakistan. 10. History & Culture of Sindh.e. 6. 1972. Aziz. Ansar. Club Road. Pakistan Political Roots & Development. Zahid. 3. Enigma of Political Development. Karachi: Oxford University Press. Islamabad: National Commission on Historical and Cultural Research. 1993. Ethno . nd. Party. Muhammad Waseem. I. Akbar. Politics in Pakistan. II & III. Futuristic outlook of Pakistan Books Recommended 1. Afzal. Karachi: Royal Book Company. Political Parties in Pakistan. 1998. Sayeed. 5. 1994. State & Society in Pakistan. 1967. 8.The Emergence of Banglades. Rafique. Lahore. Noor ul. 11.M. The Macmillan Press Ltd 1980. 1987.. Karachi: Oxford University Press. K. Making of Pakistan: The Military Perspective. Safdar. Burke and Lawrence Ziring. Issue in Pakistan’s Economy. Amin. Burki. Institute of Public Policy Research. 107 . Pakistan Under Martial Law. Kent England: WmDawson & sons Ltd. 7. S. 14. 13.K. Zaidi. Vol. 9. M. Islamabad: National Commission on Historical and Cultural Research. Khalid Bin. 1980. Islamabad. Islamabad: National Institute of Historical and cultural Research. Tahir. S. Wilcox. Boston: Houghton Mifflin. Washington: American Enterprise. 4. 1993.

6.A.57.58.Tadabar (Verse No1.21.A.) 2) Verses of Surah Al-Hashar ( 5) Verses of Surah Al-Inam Related to Ihkam(Verse No-152-154) Study of Sellected Text of Holly Quran 1) Verses of Surah Al-Ihzab Related to Adab al-Nabi (Verse No. Detail of Courses Introduction to Quranic Studies 1) Basic Concepts of Quran 2) History of Quran 3) Uloom-ul -Quran Study of Selected Text of Holly Quran 1) Verses of Surah Al-Baqra Related to Faith(Verse No-284-286) 2) Verses of Surah Al-Hujrat Related to Adab Al-Nabi (Verse No-1-18) 3) Verses of Surah Al-Mumanoon Related to Characteristics of faithful (Verse No-1-11) 4) Verses of Surah al-Furqan Related to Social Ethics (Verse No.20) Related to thinking.19. Day of Judgment 3) Verses of Surah Al-Saf Related to Tafakar.Annexure “C” ISLAMIC STUDIES (Compulsory) Objectives: This course is aimed at: 1 To provide Basic information about Islamic Studies 2 To enhance understanding of the students regarding Islamic Civilization 3 To improve Students skill to perform prayers and other worships 4 To enhance the skill of the students for understanding of issues related to faith and religious life.W) in Makkah 108 .W) I 1) Life of Muhammad Bin Abdullah ( Before Prophet Hood) 2) Life of Holy Prophet (S.14) Seerat of Holy Prophet (S.

3) Important Lessons Derived from the life of Holy Prophet in Makkah Seerat of Holy Prophet (S.A.W) in Madina 2) Important Events of Life Holy Prophet in Madina 3) Important Lessons Derived from the life of Holy Prophet in Madina Introduction To Sunnah 1) 2) 3) 4) 5) 6) Basic Concepts of Hadith History of Hadith Kinds of Hadith Uloom –ul-Hadith Sunnah & Hadith Legal Position of Sunnah Selected Study from Text of Hadith Introduction To Islamic Law & Jurisprudence 1) 2) 3) 4) 5) 1) 2) 3) 4) Basic Concepts of Islamic Law & Jurisprudence History & Importance of Islamic Law & Jurisprudence Sources of Islamic Law & Jurisprudence Nature of Differences in Islamic Law Islam and Sectarianism Basic Concepts of Islamic Culture & Civilization Historical Development of Islamic Culture & Civilization Characteristics of Islamic Culture & Civilization Islamic Culture & Civilization and Contemporary Issues Islamic Culture & Civilization Islam & Science 1) Basic Concepts of Islam & Science 2) Contributions of Muslims in the Development of Science 3) Quranic & Science Islamic Economic System 1) 2) 3) 4) Basic Concepts of Islamic Economic System Means of Distribution of wealth in Islamic Economics Islamic Concept of Riba Islamic Ways of Trade & Commerce Political System of Islam 1) Basic Concepts of Islamic Political System 2) Islamic Concept of Sovereignty 109 .W) II 1) Life of Holy Prophet (S.A.

Ahmad Hasan. Muhammad Zia-ul-Haq. Religion and Society” Deep & Deep Publications New Delhi (1989) Dr. ‘Introduction to Islam Mulana Muhammad Yousaf Islahi. in Islam Islamic History 1) Period of Khlaft-E-Rashida 2) Period of Ummayyads 3) Period of Abbasids Social System of Islam 1) Basic Concepts Of Social System Of Islam 2) Elements Of Family 3) Ethical Values Of Islam Reference Books: 1) 2) 3) 4) 5) 6) 7) 8) 9) Hameed ullah Muhammad. Pakistan. “Emergence of Islam” . Islamabad (2001) 110 . Bhatia. “Principles of Islamic Jurisprudence” Islamic ResearchInstitute.” Hussain Hamid Hassan.S. “Muslim Jrisprudence and the Quranic Law of Crimes” Islamic Book Service (1982) H. “Introduction to Al Sharia Al Islamia” Allama Iqbal Open University. “Muslim Conduct of State” Hameed ullah Muhammad. International Islamic University. Islamabad (1993) Mir Waliullah. “Studies in Islamic Law. “An Introduction to the Study of Islamic Law” leaf Publication Islamabad. IRI. Islamabad Hameed ullah Muhammad.3) Basic Institutions of Govt.

Cramer’s rule. Sharron S. types. Algebra 2 and Trigonometry. Boston (suggested text) Kaufmann JE. PWS-Kent Company. Quadratic Equations: Solution of quadratic equations. determinants. matrix inverse. 1986. Sequences and Series: Arithmetic progression. harmonic progression. Course Outline: Preliminaries: Real-number system. trigonometric identities. College Algebra and Trigonometry. COMPULSORY MATHEMATICS COURSES FOR BS (4 YEAR) (FOR STUDENTS NOT MAJORING IN MATHEMATICS) 1. functions. with the essential tools of algebra to apply the concepts and the techniques in their respective disciplines. set operations. cube roots of unity. MATHEMATICS I (ALGEBRA) Mathematics at secondary level 3+0 Prerequisite(s): Credit Hours: Specific Objectives of the Course: To prepare the students. relation between roots and coefficients of quadratic equations. types of functions. geometric progression. not majoring in mathematics. Fundamentals of Algebra and Trigonometry (6th edition). Wooton W. 1978. equations reducible to quadratic equations. 1987. system of linear equations. complex numbers. Beckenback EF. introduction to sets.Annexure “D” Note: One course will be selected from the following six courses of Mathematics. Binomial Theorem: Introduction to mathematical induction. Recommended Books: Dolciani MP. Boston 111 . binomial theorem with rational and irrational indices. Boston Swokowski EW. Houghton & Mifflin. Trigonometry: Fundamentals of trigonometry. qualitative analysis of roots of a quadratic equations. Matrices: Introduction to matrices. PWS-Kent Company.

not majoring in mathematics. Ma. angle between two lines. 1995. 112 .2. MATHEMATICS III (GEOMETRY) Mathematics II (Calculus) 3+0 Prerequisite(s): Credit Hours: Specific Objectives of the Course: To prepare the students. Calculus: A New Horizon (8th edition). Davis S. with the essential tools of calculus to apply the concepts and the techniques in their respective disciplines. various forms of equation of a line. not majoring in mathematics. Calculus (3rd edition). Limits and Continuity: Limit of a function. PWS-Kent Company. continuous functions. distance between two points. Calculus and Analytic Geometry. MATHEMATICS II (CALCULUS) Mathematics I (Algebra) 3+0 Prerequisite(s): Credit Hours: Specific Objectives of the Course: To prepare the students. Addison-Wesley. Brooks/Cole (suggested text) Swokowski EW. Course Outline: Geometry in Two Dimensions: Cartesian-coördinate mesh. rational and transcendental functions. 2005. derivatives. intersection of two lines. Integration and Definite Integrals: Techniques of evaluating indefinite integrals. change of variables in indefinite integrals. New York Stewart J. with the essential tools of geometry to apply the concepts and the techniques in their respective disciplines. Boston Thomas GB. Finney AR. differentiation of polynomial. Reading. Derivatives and their Applications: Differentiable functions. 2005. continuity. Recommended Books: Anton H. left-hand and right-hand limits. 1983. inequalities. USA 3. Bevens I. integration by substitution. integration by parts. Calculus (11th edition). equation of a line. distance between a point and a line. parallel and perpendicular lines. Course Outline: Preliminaries: Real-number line. John Wiley. solution of equations involving absolute values. slope of a line. functions and their graphs.

locus of a point in various conditions. circles determined by various conditions. Freshman and Company. Analytic Geometry. Fundamentals of Algebra and Trigonometry (6th edition).Circle: Equation of a circle. Cramer’s rule. Conic Sections: Parabola. types of functions. types of matrices. hyperbola. 1969 Kaufmann JE. Quadratic equations: Solution of quadratic equations. inverse of matrices. determinants. PWS-Kent Company. Matrices: Introduction to matrices. COURSE FOR NON-MATHEMATICS MAJORS IN SOCIAL SCIENCES MATHEMATICS BS (Social Sciences). functions. SSC (Metric) level Mathematics 03 + 00 40 written examination. College Algebra and Trigonometry. 2008 and onward Title of subject: Discipline: Pre-requisites: Credit Hours: Minimum Contact Hours: Assessment: Effective: Aims : : To give the basic knowledge of Mathematics and prepare the students not majoring in mathematics. Boston Swokowski EW. ellipse. PWS-Kent Company. 1987. Objectives Contents 1. the general-second-degree equation Recommended Books: Abraham S. intersection of lines and circles. set operations. Boston 4. Scott. Model the effects non-isothermal problems through different domains. Apply the concepts and the techniques in their respective disciplines. After completion of this course the student should be able to: • • • Understand the use of the essential tools of basic mathematics. Algebra : : Preliminaries: Real and complex numbers. 1986. Introduction to sets. nature of 113 . system of linear equations.

. deciles and percentiles. cumulative frequency curve. E. E. quartiles. W. R. 4. Introduction: Meaning and definition of statistics. Sequence and Series: Arithmetic. individual. Measures of dispersion: Range. Mathematics For Chemistry Credit Hours: Prerequisites: 3 Mathematics at Secondary level 114 . R. trigonometric identities. Latest Edition. relationship of statistics with social science. Boston. discrete and continuous series. bar frequency diagram histogram. variance. Wilcox. moments. Trigonometry: Fundamentals of trigonometry. Books Recommended: 1. characteristics of statistics. 5. ‘Statistics for The Social Sciences’. frequency polygon. geometric and harmonic progressions. inter quartile deviation mean deviation. J.. 2. graphic presentation of the frequency distribution. standard deviation. types of frequency series. Statistics : roots of quadratic equations. ‘College Algebra and Trigonometry’. 3. array. Walpole. Kaufmann. tally sheet method. ungrouped and grouped data. Prentice Hall. ‘Fundamentals of Algebra and Trigonometry’. PWS-Kent Company. Frequency distribution: Organisation of data..2. Latest Edition. Swokowski. ‘Introduction of Statistics’. equations reducible to quadratic equations. E. skewness and kurtosis. limitations of statistics and main division of statistics. Permutation and combinations: Introduction to permutation and combinations. Latest Edition. Graphs: Graph of straight line. Measures of central tendency: Mean medium and modes. Binomial Theorem: Introduction to binomial theorem. R.. circle and trigonometric functions.

the chain rule. Thomas. Hughes-Hallett. Inc.Specific Objectives of Course:To prepare the students not majoring in mathematics with the essential tools of Calculus to apply the concepts and the techniques in their respective disciplines. Solution of equations involving absolute values. Trigonometric Functions. S. 2005. Least-Squares Line. integration using partial fractions. Anton. Mathews. Integration by Parts. reduction formulae. logarithmic differentiation. Boston. McCallum. 2005. logarithmic integration. Functions and their graphs: Polynomial Functions. 1999. Frank A. Limits and Continuity: Limit of a Function. Prentice-Hall. et al. Calculus and Analytic Geometry PWS Publishers. W. John Wiley & Sons. Calculus Single and Multivariable. Numerical Methods for Mathematics Science and Engineering. integration by parts. 6. 2002.Jr. Schaum’s Outline Series. Calculus. implicit differentiation. Course Outline: Preliminaries: Real Numbers and the Real Line. Derivatives and its Applications: Differentiation of Polynomial. E. Slope of a Line. Jhon Willey & Sons. sinusoidal function. Continuity. • Differentiation Differentiation from first principles. Rational Functions. Elliott Mendelson. infinite and 115 • . Preliminary calculus. products. 11th Edition. Continuous Functions. Addison Wesley publishing company. Calculus. integration by inspection. MATHEMATICS FOR PHYSICS Contents 1. 2. Change of Variables in Indefinite Integrals. Left Hand and Right Hand Limits. Bevens. Inc. Leibnitz’ theorem. the inverse of differentiation. Swokowski. Rational and Transcendental Functions. theorems of differentiation. 3. 3rd Edition. Second Edition 1992. Integration Integration from first principles. special points of a function. 4. H. Inequalities. Recommended Books: 1. 6. and Transcendental Functions. Integration and Indefinite Integrals: Integration by Substitution. Gleason. Calculus. 4th edition. 5. Equation of a Line. 8th edition. quotients. 1983. I. John H. substitution method. Davis. Extreme Values of Functions.

transformation of series Convergence of infinite series Absolute and conditional convergence. calculus of hyperbolic functions Series Summation of series Arithmetic series. applications of integration. convergence of a series containing only real positive terms. inequalities. geometric series. solving polynomial equations Complex logarithms and complex powers Applications to differentiation and integration Hyperbolic functions Definitions. inverses of hyperbolic functions. plane polar coordinates. hyperbolic-trigonometric analogies. operations with power series Taylor series Taylor’s theorem. alternating series test Operations with series Power series Convergence of power series. arithmetico-geometric series. Partial differentiation • Definition of the partial derivative 116 . the difference method. Complex numbers and hyperbolic functions • • • • The need for complex numbers Manipulation of complex numbers Additions and subtraction. solving hyperbolic equations. division Polar representation of complex numbers Multiplication and division in polar form integral and argument. finding the nth roots of unity. approximation errors in Taylor series. complex conjugate.improper integrals. modulus multiplication. 2. Series and limits • • • • • • • 4. series involving natural numbers. standard Maclaurin series Evaluation of limits • • • 3. de Moivre’s theorem Trigonometrical identities. identities of hyperbolic functions.

equation of a plane Using vectors to find distances Point to line. moments of inertia. centers of mass and centroids. Scalars and vectors Addition and subtraction of vectors Multiplication by a scalar Basis vectors and components Magnitude of a vectors Multiplication of vectors Scalar product. Matrices and vector spaces • Vectors spaces Basic vectors. masses. line to plane Reciprocal vectors Multiple integrals • 6. the inner product. • • • The total differential and total derivative Exact and inexact differentials Useful theorems of partial differentiation The chain rule Change of variables Taylor’s theorem for many-variable functions Stationary values of many-variable functions Stationary values under constraints Double integrals Triple integrals Applications of multiple integrals Areas and volumes. vector triple product Equations of lines and planes Equation of a line. scalar triple product. vector product. line to line.• • • • • • • • 5. mean values of functions Change of variables in multiple integrals Change of variables in double integrals. Vector algebra • • • • • • • • • 7. some useful inequalities • Matrices • The complex and Hermitian conjugates of a matrix • The determinant of a matrix Properties of determinants • The inverse of a matrix • The rank of a matrix • Simultaneous linear equations 117 . point to plane. Pappus’ theorems.

orthogonal. symmetric and antisymmetric. divergence of a vector field. of Hermitian and anti-Hermitian matrices. Hermitian. of a unitary matrix. div and curl Cylindrical and spherical polar coordinates Cylindrical polar coordinates. Vector calculus • • • • • • • • • 118 . differential of a vector Integration of vectors Space curves Vector functions of several arguments Surfaces Scalar and vector fields Vector operators Gradient of a scalar field. curl of a vector field Vector operator formulae Vector operators acting on sums and products. combinations of grad. of a general square matrix Determination of eigen values and eigen vectors degenerate eigen values Differentiation of vectors Composite vector expressions. unitary normal Eigen vectors and eigen values of a normal matrix. spherical polar coordinates • 8.• • N simultaneous linear equations in N unknowns Special square matrices Diagonal.

Properties of variance and standard Deviation. Change of origin and scale. What is Statistics? Definition of Statistics. Unit 4. Editing of Data. Exercises. Unit 3. Sources. Constructing of a frequency distribution. Presentation of Data Introduction. Discrete and continuous variables. Exercises. The Mode. sample design and sampling frame. The semiInter-quartile Range. Significant digits. definition of outliers and their detection. Quantiles. Stem and Leaf Display. 119 . Collection of primary and secondary data. Interpretation of the standard Deviation. Measures of Dispersion Introduction. properties of Good Average. Poisson and Normal Distribution. bias. Errors of measurement. Measures of Central Tendency Introduction. Difference of means and proportions. Pie chart. Coefficient of variation. sampling with and without replacement. Absolute and relative measures. basic principles of classification and Tabulation. Bar charts. Diagrams. Types of frequency curves. Rounding of a Number. Exercises. Range. Observations. Relative and Cumulative frequency distribution. Standardized variables. Sampling distributions for single mean and proportion. sample Descriptive and inferential Statistics. Unit 5. Exercises. Median and mode. The Variance and standard deviation. Historigram. Sampling and Sampling Distributions Introduction. probability and non-probability sampling. sampling and non sampling errors. Population. Discrete and continuous distributions: Binomial. Unit 2. Frequency polygon and Frequency curve. Graphs and their Construction. Exercises. Exercises Unit 6. Ogive for Discrete Variable. Cumulative Frequency Polygon or Ogive. Data.Annexure “E” INTRODUCTION TO STATISTICS Credit hrs: 3(3-0) Unit 1. Box and Whisker Plot. Empirical Relation between Mean. The Mean Deviation. Moments and Moments ratios. Relative Merits and Demerits of various Averages. Histogram. Probability and Probability Distributions. Different types of Averages.

R. Inc. Testing of hypothesis and confidence intervals about the difference of population means and proportions for small and large samples. Testing of Hypotheses-Two or more Populations Introduction. level of significance. Testing of hypothesis about the Independence of attributes. Statistical problem.. its estimation and interpretation. Test statistics. Examples Recommended Books 1 2 Walpole.. examples. Correlation. 1982. 3rd Ed. Analysis of Variance and ANOVA Table. 2005. F. Muhammad. Testing of Hypothesis-Independece of Attributes Introduction. Exercises.Single Population Introduction. simple linear regression. Testing of hypothesis and confidence interval about the population mean and proportion for small and large samples. estimation of parameters and their interpretation. Regression and Correlation Introduction. Exercises Unit 10. Note: General Courses from other Departments Details of courses may be developed by the concerned universities according to their Selection of Courses as recommended by their Board of Studies. 120 . Kitab Markaz. Contingency Tables. general procedure for testing of hypothesis. Type-I and Type-II errors. Macmillan Publishing Co. r and R2. Hypothesis Testing Introduction. “Statistical Methods and Data Analysis”. Testing of Hypothesis. acceptance and rejection regions. Exercises. Exercises Unit 9. null and alternative hypothesis. cause and effect relationships.Unit 7. Coefficient of linear correlation. Unit 11. “Introduction to Statistics”. New York. Multiple regression and interpretation of its parameters. Unit 8. Bhawana Bazar Faisalabad. E.

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