University of Lahore

Department of Economics

Econ 611 Issues in Pakistan Economy, Spring 2017

______________________________________________________________________________

Instructor: Ms. Aribah Aslam

Contact Information: aslam.aribah7@gmail.com & aribah.aslam@econ.uol.edu.pk

Office: Room # 6, Second floor, UOL Old campus Office Hours: M, W, Sat: 11:00-12:00

COURSE OVERVIEW

The main objective of this course is to facilitate the students to thoroughly get familiar with economic concepts
and terminologies to evaluate overall performance of Pakistan’s economy and ongoing challenges. As part of this
teaching process students will be encouraged to compare Pakistan’s economic development with other developing
nations. After completion of this course students will have basic knowledge of all major economic issues prevailing
in Pakistan. The course is helpful for students, who are interested in “thesis”, as this will provide them with up to
date knowledge of Pakistan economy.

Learning Objectives

By the end of this course, the student will be able to:

a) Understand the structure of Pakistan economy.

b) Evaluate the economic issues prevailing in Pakistan economy.
c) List the determinants of growth in Pakistan and compare with other developing and developed
world.
d) Describe the macro –economic structure of Pakistan’s economy.
e) Demonstrate an understanding of monetary and fiscal policy options as they relate to economic
stabilization in Pakistan.

Format

The university teaching strongly believes in student-centred learning; therefore preparation for, and
participation in class discussion is essential and mandatory for every student. It is highly recommended that
students should attend every class.

A B.S level macroeconomics and an econometrics course are prerequisites. You are expected to be familiar
with econometric methods and economic modeling. This will give you an edge in class, especially in term
paper/project. The relevant material will be covered in class and occasionally in the recitation.
Course Assessments

Assessment Due Date Weight (%)

In-class participation & Attendance 5%
Participation Assignments 10%
2 quizzes 10%
2 seminars 10%
Mid Term University Decided Date 20%
Final Exam University Decided Date 30%
Term Paper Must start working after Mid-term. 15%
Presentations due in last two weeks of course.
TOTAL 100%

Course Assessment Criteria

Participation: Students are expected to be prepared to contribute to class discussions. This requires keeping
up with course readings. The purpose of the assignments is to help students remember topics in and after
class, learn more deeply about course concepts, and learn how to critically examine theories and ideas in
scholarly research. The assignments will be entirely based on developing your brain and making you study
out of class, hence, you will be given critical analysis and analytical problems for that. No late assignments
summations after due time are accepted.

The course aims at making you remember and understand the material for life time learning and hence,
traditional exams are given only fifty percent weight age. You are thus advised to stay attentive in class and
participate rigorously for passing this course. You are also encouraged to share readings from latest
magazines on Economic issues related to Pakistan.

Note: Please make every effort to complete the reading before you come to class.

Plagiarism in any of the submitted work will directly lead to F grade.

Project Report / Research Paper (10%): The final term paper is a short (2,000 - 3000 words) paper on any
topic related to the course, of the student’s choice. Students are encouraged to speak with the instructor (in
person or via email) regarding a topic before submitting their work. You are encouraged to work in groups /
separately. However, the marks in group project will be given to each student independently depending on
efforts they put into work. Report / term paper carries 10 marks, whereas, 5 marks is for presentations.

It is advised that you always follow APA/ Chicago style when presenting your work. No handwritten
assignments are accepted, and you must always provide soft copy of your work to instructor ( for plagiarism
check).

Late Penalties

You are allowed to email (till 11:59 pm of due date). It is mandatory that you at least provide soft copy of all
work, if unable to provide hard copy timely so that plagiarism may be checked. There is no excuse for late
work and even a one day late work would not be graded. Time is an asset and you must care for it. This
practice will help into your personality grooming. You are welcome to submit work before due date if you
fear that you won’t be able to meet dead line.

Students with unique (including but not limited to learning, physical, mental, emotional) needs must have the
same opportunities to grow from teaching and learning. Such Students are requested to speak with the
instructor as soon as possible.
Academic Dishonesty:

The following illustrates only three forms of academic dishonesty:

1. Plagiarism, e.g. the submission of work that is not one’s own or for which other credit has been
obtained.

2. Improper collaboration in group work.

3. Copying or using unauthorized aids in tests and examinations.

This course we will be using a web-based service (Turnitin.com) to reveal plagiarism. You are
required to provide hard and soft copies of your work. At least, Soft copies must be mailed to
instructor on due dates.

Required Readings:

Text Books:

1. Zaidi, Akbar, (1999), Issues in Pakistan Economy, Oxford Univ Press, Karachi.
2. World Development Reports, World Bank.
3. HUMAN development Report, UNDP, annual
4. Pakistan Economic Survey 2014-15 - Ministry of Finance.

Week Topics To be covered!

1&2 Overview of Pakistan Development Experience, Approaches, Policies and Outcomes. Identification of
Economy Issues: The era of 1950’s, 1960’s, 1970’s, 1980’s 1990’sand 2000’s. Structural
. Change and Sources of Growth. Emergence of Economic Issues, Human Resource
Development, Unemployment, Poverty, Income Distribution, Debt, Deficit etc.
Growth with limited
development in Pakistan
Assignment 1
3&4 Development Agricultural Development Policies and Priorities, Major Targets of Develop Plans
Planning and and Emerging Issues; Neglects and Successes: Mobilization of Domestic
Resource Mobilization Resources; Shortages, Deficits and Role of Foreign Aid. Agricultural Vs. Industrial
Development Debate. Agricultural Adequacy.

Quiz 1
5 Agriculture and Pattern of Agricultural and Industrial Development, Land Reforms and Its
Industrial Impacts, the Role of Green Revolution and its Impacts: Present Status.
Development: Agricultural Price Policy and Income Tax. Sectoral Terms of Trade. Industrial
Emerging Issues Development Policies and Strategies. Development of Large and Small
Industries. Value Added: Manufacturing Goods Vs. Primary Goods Production.
Agriculture Vs. Industry: Development Debate.
Seminar 1
6&7 Employment and Sectoral Priorities and Development Issues. Human Resource Development and
Unemployment Emerging Issues: Population Growth, Labour Force Participation Rate and
Employment Pattern, Unemployment and Underemployment, Forecasting
(Mid) Manpower Needs and Employment. Strategies to combat unemployment.
Criteria to Measure Unemployment /
Underemployment: Time Criterion, Productivity Criterion and New Index of
Unemployment: Application to Pakistan and Empirical Evidences. Good
Governance, Social Action Plan and its Impact. Role of Institution in
Development. Social Sectors development Vs. High Return Sectors: Growth trade
off.
 Week 6: confirm topics of term paper
Week 7: Mid-Term
8 International Debt Concepts of Foreign Aid and Debt. Borrowing Vs. Domestic Reserve Mobilization
and Dependency (failure). Size of Foreign Debt, Debt Saving and its Impacts. Strategies to combat
. with High Debt: Saving Policy, Foreign Trade Promotion, Cutting non-
development Expenditures, Rescheduling and its Impacts. Debt Management in
Pakistan and Its Impacts. Debt Modeling and Future Implications
Assignment 2
9 Poverty and Income Pattern of Income Distribution: Rural and Urban. Definitions and Approaches to
& 10 Distribution Measure Poverty: Income Approach, Expenditure Approach, Basic Needs
. Approach, Poverty of Participatory Index (POPI).How to Combat Poverty; Growth
Strategy, Basic Needs, Labour Intensive Investment: Education / Training etc.
and Social Action Plan (SAP) , its Role and Critical Review, Evasion of Policies /
Strategies to Combat Poverty and Improving Income Distribution: Critical
Evaluation. Neglect of Human Resource Development. Child Labour. Factors
Productivity Issues.

Week 9 : proposal of term Paper due,

week 10: Quiz 2
11 Inflation, Foreign Sources of Inflation in Pakistan. Policies to Combat Inflation and their Impacts.
Trade Deficit and Trade Performance, Instability and its Impacts. Policies to Combat Deficit and
Emerging Issues Trade Instability. WTO and Its Impacts. Reforms and Further Needs. Expected
Impacts of WTO and Challenges. Terms of Trade Issues, Market Access and
Health Related Rates. Models of inflation.

Seminar 2
12 Trade & development Pattern of Trade: exports, Imports and remittances. Deficit Financing and foreign
Debt.
Globalization, Liberalizations and its impacts. Trade and growth. Revealed
comparative Advantage and its application.

13
14 Presentations & Finals

Helpful websites:

http://www.finance.gov.pk/survey_1415.html
http://www.worldbank.org/en/region/eca/research?
gclid=Cj0KEQiA5bvEBRCM6vypnc7QgMkBEiQAUZftQE1iVtQu52WAAyftShZiHAPx3vf6LLjAIZCrrXwOiUUaAlq
j8P8HAQ
http://open.undp.org/#2016
http://www.pbs.gov.pk/content/50-years-pakistan-volume-i-5