APPROVED RULES FOR TEACHING PROGRAM OF THE AERC MAS, M.S / M.Phil and Ph.D The Institution of National Capability in Applied Economics, ‘Applied Economics Research Centre (AERC), University of Karachi is entrusted with the task of establishing an advanced level program in economics leading towards MAS, M.S/MPhil. and Ph.D. degrees under special arrangements agreed to by the University Higher Education Commission (HEC) formerly known as University Grants Commission UGC). The program has also been approved by the Board of Advanced Studies and Research (BASR) University of Karachi. ABRC is endowed with a highly qualified Faculty. Research facilities including a well-equipped library (with inter library loan services with local and international libraries), computer centre, an internet connection for all students and a conference hall. In addition to its own faculty the AERC has arrangements for teaching and supervision of theses with other Universities and Academic Institutions in the country. M. Phil, Admission Requirements Applicants for admission to an M. Phil. program must have a Master's degree, at least in second division from a recognized University/Institution. All cases of equivalence will be recommended by the Academic Committee (AC) of the AERC for final approval by the University’s Equivalence Committee (EC). Applicants will be required to pass an admission test (on the pattem of NTS and GRE) and an interview. All admissions will be strictly based on merit!. The test will be conducted by the AERC. Applicants may submit scores for the U.S. Graduate Record Examination (Aptitude) (within last 5 years) in lieu of the said admission test. However those applicants who have a major in economics will be required to submit GRE (Advanced Economics) / GATT scores (within last 2 years) in lieu of the AERC’s Admission test. ‘Admission offered once will normally be valid for two years. However, in view of the sequencing ‘of courses, no candidate will be allowed to join in the middle of the program. M. Phil. Degree Requirements For the award of an M. Phil. degree in economics, all candidates must complete the requirements as prescribed in Part I (course requirements) and Part-II of this document. + However AERC will admit candidates on University employees’ quota whose scores are 10 percent less than the score obiained by the last candidate selected for admission. However, passing of the admissions test will be compulsory for all candidatesPART-I (Course Requirements) Part-I will consist of earning a minimum of 42 credit hours through coursework which will be based on 4 Quarters of 10 weeks cach. Following courses of 3 credit hours each will be offered: [First Quarter Il) Microeconomics-I (701) }) - Macroeconomi 1(702) 3) Econometries-1 (703) |) Mathematics for Economists aes [Second Quarte ae [5) Microcconomics-II (705) Macrocconomios-II On (7) Econometries-II (707) '8) Economic Planning (708) (Third Quarter '9) General Equilibrium & Welfare Economics (709) 10) Development Economics (710) iil) Applied Econometrics & Computer ‘Application (711) 112) Research Methodology (712) [Fourth Quarter 13) Agriculture Economies - I (713-A) 14) Economic Finance (713-C) '15) International Trade-I (713-F) 16) Industrial Economies-I (713-D) 117) Public Finance-I (713-G) 18) Urban Beonomies-t (713-0) 19) Monetary Feonomics-I (713-J) [21) Business Economics-I (713-B) (23) Project Evaluation-I (713-1) (23) Economics of Human Resources-I (113-D) 224) Portfolio Management & Investment Analysis-I (713-L) (25) Environmental and Natural Resource Economics ~ I (713-K) (26) Microfinance — I (713-M) {30) Population Economics and Demography TB1) International Economics ~ 1 (713-N) (32) Rural Development — I (713-P) 3) Financial Econometrics — 1 (713-Q) 4) Labor Economics — I (713-R) Courses listed from 1 to 12 offered in the first three Quarters will be offered as compulsory courses whereas courses from 13 to 33 as optional courses. The optional courses offered will depend on the availability of qualified faculty and minimum number of students. Thirty six credit hours will be eared through compulsory courses and the remaining six credit hours through optional courses. Optional Course will first be approved by the Academic Committee of the ‘AERC and subsequently a seminar series on Issues in Pakistan’s Economy in all four quarters will be arranged by the Incharge GSP as mandatory events for studentsIn exceptional cases the academic committee of the AERC may grant credit transfers for comparable coursework elsewhere but only upon final approval by the University of Karachi’s Equivalence Committee Passing Grades Successful completion of coursework requires at least an overall average of B grade (which means earning a minimum Grade Point Average (GPA) of 3°) in all the fourteen courses together. If the overall average grade in the coursework is less than B the candidate will have to repeat one or more courses to fulfill this requirement. The courses selected for repeating will have to be approved by the Graduate Studies Committee/In-charge Graduate Studies Program. A student will also have to repeat a compulsory course in which he/she fails to obtain a minimum of ‘D’ Grade. However, in case of an optional course, the candidate will have a choice to repeat the same optional (provided it is being offered) or opt for a new optional course. ‘The candidate will have only one chance/attempt to improve a grade which has to be availed within one academic year of following the original coursework. If.a course is deferred due to any genuine reason e.g sickness, student will have a chance to repeat it, GSC will judge the validity of reason of deferment Ifa student fails to complete the coursework requirements of Part-I in two academic years, his/her admission will be cancelled. PART-II This part will consist of the following requirements: 1) _ Dissertation Requirements ‘After passing coursework exam, the candidate will be required to submit the tentative topic of thesis in his/her area of interest to the GSP office which will be circulated among the faculty to get their interest in supervision. Following this, the Graduate Studies Committee will constitute a Dissertation Committee. This Committee will consist of at least two members not below the rank of Research Economist/Assistant Professor (with atleast MPhil degree) onc of which will serve as the Principal Advisor (PA). Subsequently student will be required to present a research proposal for thesis before the Faculty. Student will also be required to show the progress of his/ her work in consecutive seminars in the next two years. ? Grade Point Average (GPA) is computed on the basis of the following points scheme: A‘= 4.00 B= 3.25, 2.50 D=175 A =3.5 B = 3.00 225 A350 B= 2.75 2.00