BS Development Studies - Department of Economics-AWKUM

DEPARTMENT OF ECONOMICS
ABDUL WALI KHAN UNIVERSITY MARDAN
BS DEVELOPMENT STUDIES
4 years- 8 Semesters
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BS Development Studies
Pakistan is experiencing multi-faceted development problems. This course seeks to understand the social
and economic changes worldwide, and in Pakistan, that can offer more prosperous, healthy and fulfilling
lives for all. The program of development studies will provide the required training for understanding a wide
variety of social issues, their causes and consequences. This includes the examination of the inter-
connection between economic development / Growth and social and political issues like poverty,
democratization, governance, human rights, gender equality, environmental issues, as well as the role of
international organizations such as the World Bank, the United Nations and the World Trade Organization.
More so, the course explores political themes such as the role of the state, civil society, armed conflict and
humanitarian assistance. As such, the course aims to provide a useful and interesting introduction to the
politics and policies of international development. Thus, developing appropriate strategies and policy for a
more equitable and sustainable future.
Program learning outcomes

Following are the program learning outcomes. The BS development studies should able the students to:
1. Understand and critically analyze development issues.
2. Apply economic and development theories for logical, critical and creative analysis of development
issues
3. Independently employ statistical and econometric techniques in collecting, interpreting, organizing

and analyzing data in the analysis of economic and development issues.
4. Have high written and oral communication and presentation skills and has the ability to engage in
constructive public and professional discourse in policy contexts.
5. Have the capacity to be engaged, responsible, sensitive and effective world citizen.
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HEC GUIDELINES FOR BS DEVELOPMENT STUDIES (4-YEARS) PROGRAM
DIVISION OF COURSES
1. For All Disciplines of BS Development Studies (4 Years Degree Courses Credit Hours
Program):
Compulsory Courses (with no choice): 9* 25
General Courses (diversification courses): 8 24
Common Courses For all BS Disciplines: 17 49
2. Specific Courses for BS Development Studies (4 Years Degree Courses Credit Hours
Program):
Foundation Courses: 8 24
Major Courses: 11 - 15 33 – 45
Optional Courses: 4–8 12 - 24
Discipline Specific Courses For BS: 27 81
Total Courses for BS DEVELOPMENT STUDIES 4-Years Degree 44 130

Program
Compulsory Courses (with no choice): 9

English-II (Communication
English I (Functional English) English III (Technical Studies)
Skills)
Introduction to Information English IV (Academic Reading

Pakistan Studies
and Communication Technology and Writing)
Intermediate Mathematics Basic Mathematics
General Courses (Diversification): 8

Introduction to Sociology Introduction to Geography
Principles of Political Science Principles of Psychology
Introduction to Anthropology Introduction to Philosophy
Principles of Management Introduction to Logic
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Foundation Courses: 9
Principles of Microeconomics Intermediate Microeconomics
Principles of Macroeconomics Intermediate Macroeconomics
Statistics – I Statistics – II
Development Economics Econometrics
Theories of Economic Development
Major Courses: 12
Micro Perspective of Economic Development Research Methodology

Macro Perspective of Economic Development Poverty and Income Distribution
History of Economic Thought International Finance and Development
Economic Growth Political Economy
Development Policy Conflict, Security and Development
Public Finance and Devolution Institutional Economics
Optional Courses: 6
Natural Resource Economics

Gender Studies
Urban Development
Rural Development
Civil Society and Development
Research Project
Other options available:

Population Economics
Labor Economics
Energy Economics
Issues in World Economy
Issues in Pakistan economy
International economics
Energy Economics
Trade and Development
Environmental Economics
Economics of Climate Change
Economics of Happiness and Wellbeing
Transport Economics
Health Economics
World Economic History
Note: University has option to expand the list of optional courses.
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SEMESTER WISE SPLIT UP OF COURSES
BS DEVELOPMENT STUDIES (4-YEAR)
Course Code Subject Credit Type

Semester
Hours
Eng-301 English-I (Functional English) 3 Compulsory
First Econ-301 Principles of Microeconomics 3 Foundation
Semester ISL-301 Islamic Studies / Ethics 2 Compulsory
(Credit Econ-141 Basic Mathematics 3 Compulsory
Hours:17) Pol-351 Introduction to Political Science 3 Other
Soc-301 Introduction to Sociology 3 Other
Eng-351 English-II (Communication Skills) 3 Compulsory

Second PS-351 Pakistan Studies 2 Compulsory
Semester Econ- 351 Principles of Macroeconomics 3 Foundation
(Credit Econ-403 Statistics – I 3 Foundation
Hours:17) Phy-416 Introduction to Geography 3 Other
Soc-351 Social Anthropology 3 Other
Eng-401 English-III (Technical Writing) 3 Compulsory
Econ-401 Intermediate Microeconomics 3 Foundation
Third
Semester CS-301 Introduction to Information and Communication 3 Compulsory
(Credit Technology
Hours:18) Econ-241 Intermediate Mathematics 3 Compulsory
Mgt-351 Principles of Management 3 Other
Phpy-352 Introduction to Philosophy 3 Other
Eng-453 English-IV (Academic Reading and Writing) 3 Compulsory
Fourth Econ-451 Intermediate Macroeconomics 3 Foundation
Semester Econ-452 Statistics – II 3 Foundation
(Credit Econ-454 Development Economics 3 Foundation
Hours:18) Phpy-351 Logic and Critical Thinking 3 Other
Psy-311 Introduction to Psychology 3 Other
Dev-501 Micro Perspective of Economic Development 3 Major
Fifth
Dev-502 Macro Perspective of Economic Development 3 Major
Semester
Econ-603 History of Economic Thought 3 Major
(Credit
Dev-503 Theories of Economic Development 3 Foundation
Hours:15)
Econ-502/552 Econometrics 3 Foundation
Dev-551 Economic Growth 3 Major
Sixth Dev-552 Development Policy 3 Major
Semester
(Credit Econ-601 Public Finance 3 Major
Hours:15) Econ-453 Natural Resource Economics 3 Elective
Econ- 602 Research Methodology 3 Major
Seventh Dev601 Poverty and Income Distribution 3 Major
Semester Dev-602 Gender Studies 3 Elective
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(Credit Dev-603 Political Economy 3 Major
Hours:18) Dev-604 Institutional Economics 3 Major
Dev-605 Urban Development 3 Elective
Dev-606 Rural Development 3 Elective
Eighth Dev-651 Conflict, Security and Development 3 Major
Semester Dev-652 International Finance and Development 3 Major
(Credit Dev-653 Civil Society and Development 3 Elective
Hours:12) Dev-654 Research Project 3 Elective
Total Credit Hours: 130
ELIGIBILITY CRITERIA
F.Sc./FA or equivalent. At least 2nd division (45% marks)
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English 1 (Functional)
Course Code: ENG-301
Contact Hours: 48 Credit Hours: 3.0

Prerequisite: Nil
COURSE DESCRIPTION
This course introduces the students with the basic grammatical / structural rules of English Language. It will
help the students in improving their basic language skills to an optimum level so as to enable them to
communicate effectively in English language through proper usage of vocabulary & knowledge of English
grammar. Students will be familiarized with the technical methods of reading / comprehension and will be
exposed to different reading materials, which will help them in improving their vocabulary, grammar and
sentence structure etc. The experience of this course will also help them to overcome those problems due
to which they are unable to express themselves properly.
COURSE CONTENTS
Vocabulary (Frequently confused / misused words, Phrases, synonyms, antonyms, idioms & General
vocabulary), Practical Use of Grammar (Nouns, Pronouns, Verbs, Adjectives, Adverbs, Prepositions,
Conjunctions, Articles, Interjections & Tenses), Sentences (Types of sentences, Parts of sentences, Direct
and Indirect Speech, Active & Passive Voice & Conditional Sentences), Composition + Summarization
(Describing, Narrating, Argumentation, Short / long Composition, Comprehension + Précis writing.
TEACHING METHODOLOGY:
• Lectures
• In Class Activities
• Written Assignments
• Weekly contact of this course is 3 hours.
ASSESSMENT ITEMS AND WEIGHTS

Students will have several opportunities to demonstrate their knowledge and understanding of the subject
material taught in the class. Though much of the learning is actually achieved in-class, students are
expected to complete certain assignment, quizzes, and mini projects to pass the subject. Students will be
assessed according to the following criteria.
I. Mid Term Examination (20%)

Midterm exam will cons`ist of applied questions, multiple choice and case studies / scenario Analysis.
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II. Final Examination (60%)
The final exam will consist of application of concepts in terms of numerical, MCQ, case study, and
questions on guest speaker sessions (if any)
III. Internals (20%)

Internal marks comprises of the following
a. Quizzes
During the semester, at least four quizzes maybe given to the class. There will be no retake for those who
missed the quiz.
b. Project/ Topic / Case Study Presentation

Class will be divided in to reasonable syndicates for case studies / topic presentation/ class project. Each
syndicate will present the case / topic according to the recommended format.
QUALITY ASSURANCE
The completion of the course evaluation survey is mandatory and will be carried before the start of the final
exam. The findings of the survey are used in improving the course as well as its delivery. The survey is
conducted by quality enhancement cell of the university and is anonymous.
Text and Reference Books:

1. High School English Grammar & Composition by Wren and Martin.
2. Practical English Grammar by A.J. Thomson &A.V. Martinet. Exercises 1 & 2. 3 rd edition. Oxford
University Press.
3. Writing. Intermediate by Marie-Christine Boutin, Suzanne Brinand& Francoise Grellet. Oxford
Supplementary Skills. 4th Impression 1993.
4. Reading. Upper Intermediate. Brian Tomilson& Rod Ellis. Oxford Supplementary Skills. 3 rd
Impression 1992.
Supplementary study material:

1. Précis writing by R. Dhillon.
2. Systems Student Companion English for lower secondary schools by Magdalene Chew &Surinder Kaur.
3. Learners Companion Series Vocabulary by George Davidson.
4. Word Power Made Easy by Norman Lewis.
5. Understand & Communicate {book 2 and published by FEP International (Pvt.) Ltd}.
6. Concepts (book 3 and 4) by P.C. Wren.
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PRINCIPLES OF MICROECONOMICS
Course Code: Econ-301

Prerequisite: Nil
COURSE DESCRIPTION
Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of
microeconomics. This course introduces microeconomic concepts, supply and demand analysis, theories of
the firm and individual behavior, competition and monopoly. Students will also be introduced to the use of
microeconomic applications to address problems in current economic policy throughout the semester. The
course will rely heavily on graphical analysis and simple numerical calculations.
COURSE OBJECTIVES
By the end of the course, students will be able to understand introductory microeconomic theory, solve
basic microeconomic problems, and use these techniques to think about a number of basic policy
questions relevant to the operation of the economy. More specifically, this course aims:
• To develop an understanding of introductory microeconomic theory and its relevance to the real
word
• To sharpen the problem solving tactics required to solve basic microeconomic problems
• To give a broader implications of microeconomics principles and their applications
• To train the students to work with others as a part of team to solve problems
COURSE LEARNING OUTCOMES

After completing this course, students should have developed a range of skills enabling them to understand
economic concepts and use those concepts to analyze specific questions. By the end of this course,
students should be able to:
• Understand consumer and firm behavior
• Apply graphical analysis for a variety of economic situations.
• Calculate and Interpret elasticities
• Define and derive short-run and long-run production costs
• Explain various market structures
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COURSE CONTENT
1. Introduction
• The Economic Problem
• Economic Decision Makers
• The Circular Flow Model
• Distinction Between Microeconomics and Macroeconomics
• The Market System
2. Demand & Supply:

• Demand, Demand Function, Demand Curve, Engel Curve, Changes in Demand, Law of
Demand, Shift in Demand, Factors Affecting Demand, Consumer Surplus
• Supply, Supply Function, Supply Curve, Changes in Supply, Factors Affecting Supply, Law of
Supply, Producer Surplus
• Equilibrium of Demand and Supply, Market Equilibrium, Price Controls, Taxes and Subsidies
3. Elasticity of Demand & Supply:

• Price Elasticity of Demand & Supply
• Point Elasticity of Demand & Supply
• Arc Elasticity of demand & Supply
• Income Elasticity of Demand & Supply
• Cross Elasticity of demand & Supply
4. Consumer Behavior:
• Utility Analysis (Cardinal Approach), Marginal Utility
• Law of Diminishing Marginal Utility and Law of Equi-Marginal Utility, Consumer Equilibrium
• Ordinal Approach of Consumer Behavior, Indifference Curves, Features of Indifference
Curves, Budget Line, Consumer Equilibrium, Comparison between two approaches
5. The Theory of production & Theory of Cost:

• Cost of Production, Short Period and Long Period Analysis
• Economies of Scale, Elasticity of Cost, Graphical Representation of Long Run Cost
• Production, Factors of Production, Production Function, Short Period Production Relations,
Total, Average and Marginal Product, Elasticity of Production
• Laws of Returns to Scale
• Duality Between Production and Cost of Production
6. Market Structure:
• Basics of Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly
• Different Possibilities of Short Run firm Equilibrium under Perfect Competition
• Profit Maximization in Short-run and long-run under Perfect Competition
• Supply Curve of Perfectly Competitive Firm under Short and Long Run
• Short run and Long run Equilibrium under Monopoly
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• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE
• Michael J. Swann, William A. McEachern Microeconomics: A Contemporary Introduction, 3rd

edition (or latest available)
• Mankiw N. Gregory, Principles of Microeconomics 7th edition (or latest available).
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• Campbell R. McConnell, Stanley L. Brue, Principles of Economics, 17th edition (or latest available).
• Paul A. Samuelson, William D. Nordhaus, Economics, Latest Edition
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Islamic Studies
Course Code: ISL-301

Prerequisite: Nil
COURSE DESCRIPTION AND OBJECTIVES

This course is aimed:
1. to provide Basic information about Islamic Studies
2. to enhance understanding of the learners regarding Islamic Civilization
3. to enhance the skill of the learners to understand issues related to faith and religious life.
COURSE CONTENTS
Quranic Verses: Translation and Explanation: Selected from various Sections of Quran Relating to
different issues like Salat, Zakat, Ramadan, Tuheed etc.
.
Ahadis: Translation and Explanation: Selected Ahadis relating to different issues like, Haqooq- ul- Habad,
Jehad, Husn-e- Ikhlaqetc
Life of the Prophet (PBUH): Various incidents and battles taken from the life of the Holy Prophet. (PBUH)
Islamic Culture and Civilization: Islamic Culture and Civilization through History, its development,
achievements etc.
• Lectures


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a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1) Hameed ullah Muhammad, “Emergence of Islam” , IRI, Islamabad
2) Hameed ullah Muhammad, “Muslim Conduct of State”
3) Hameed ullah Muhammad, ‘Introduction to Islam
4) Mulana Muhammad YousafIslahi,”
5) Hussain Hamid Hassan, “An Introduction to the Study of Islamic Law” leaf Publication Islamabad,
Pakistan.
6) Ahmad Hasan, “Principles of Islamic Jurisprudence” Islamic Research Institute, International Islamic
University, Islamabad (1993)
7) Mir Waliullah, “Muslim Jrisprudence and the Quranic Law of Crimes” Islamic Book Service (1982)
8) H.S. Bhatia, “Studies in Islamic Law, Religion and Society” Deep & Deep Publications New Delhi (1989)
9) Dr. Muhammad Zia-ul-Haq, “Introduction to Al Sharia Al Islamia” Allama Iqbal Open University,
Islamabad (2001)
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BASIC MATHEMATICS
Course Code: ECON 141
Prerequisite: Nil
COURSE DESCRIPTION
This is the first of a compulsory two-course sequence. This part is to be taught in Semester I, this course
introduces some basic mathematical tools needed in Economics. The principal aims of the course are to
introduce students to the basic mathematical methods.
COURSE OBJECTIVES
Objectives of the course are:
1. To prepare the students, not majoring in mathematics, with the essential tools of functions of one
real variable and single-variable optimization.
2. To transmit the body of basic mathematics that enables the study of economic theory at the
undergraduate level.
3. To understand those methods of mathematics needed to pursue economic analyses.
COURSE LEARNING OUTCOMES:

Upon successful completion of the course, the student will be able to:
• Acquire the basic knowledge of mathematical methods and perform basic arithmetic operations
on algebraic expressions and fractional algebraic expressions
• Understand mathematical information, concepts, and thoughts in verbal, numeric, graphical and
symbolic forms while solving a variety of problems.
• Solve systems of linear equations in up to three unknowns and explain how to solve systems in
more than three unknowns;
• Evaluate Graphs; elementary types of functions and Geometric properties of functions.
• Demonstrate the basic computational methods in functions of one real variable, single-variable
optimization and Integration of functions
COURSE CONTENT:
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1. Preliminaries:
• Logic and proof techniques; sets and set operations;
• Relations; functions and their properties; number systems.
2. Functions of one real variable:

• Graphs; elementary types of functions: quadratic, polynomial, power, exponential, logarithmic;
• Sequences and series: convergence, algebraic properties and applications;
• Continuous functions: characterizations, properties with respect to various operations and
applications;
• Differentiable functions: characterizations, properties with respect to various operations and
applications;
• Second and higher order derivatives: properties and applications.
3. Single-variable optimization:
• Geometric properties of functions: convex functions, their characterizations
• Applications; local and global optima: geometric characterizations, characterizations using calculus
and applications.
4. Integration of functions:
• Areas under curves;
• Indefinite integrals; the definite integral.
5. Difference equations:
• First order difference equations.
• Lectures


16

a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational Asia,
Delhi, 2002.
• A.C. Chiang, Fundamental Methods of Mathematical Economics. N.Y, McGraw Hill Co, Latest
edition.
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INTRODUCTION TO POLITICAL SCIENCE

Course Code: Pol- 351
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Prerequisite: Nil

The objective of this course is to introduce the students with the fundamentals of the subject of Political Science and
prepare them for advanced studies in the forthcoming semesters. The very basic concepts and terminology
commonly used in the further courses of studies are taught to make the students friendly with the subject.
COURSE CONTENTS
a) Definition, nature and scope of Political Science. Relationship with other social sciences: Economics and
History, Sociology, Geography and new trends in Political Science.
b) Approaches to the study of Political Science: Traditional approach; Behavioral approach, Post
Behavioral Approach (Functionalism).
c) Political System:
i) Meaning and Characteristics
ii) Structure and Functions
2. POLITICAL COMMUNITY
a) State and its Evolution
b) Concepts of State.
i) Traditional concept with reference to Plato and Aristotle.
ii) Islamic concept with special reference to Ibn-Khaldun and Shah Wali Ullah.
iii) Modern Concept with reference to Machiavelli, Hobbes, Locke and Rousseau.
iv) Concept of Sovereignty: Monistic and pluralistic; Western and Islamic.
3. INDIVIDUAL IN POLITICAL COMMUNITY

i) Law and individual
ii) Rights and duties of individual (Western and Islamic)
iii) Liberty and freedom of individual
4. FORMS OF GOVERNMEN
i) Unitary, Federal and Confederation
ii) Parliamentary and Presidential
iii) Democratic and Totalitarian/Authoritarian.
5. STRUCTURE AND ROLE OF GOVERNMENT

i) Legislature: law making
ii) Executive: law enforcing
iii) Judiciary: law adjudicating
iv) Separation of Powers/Checks and Balances.
6. POLITICAL PARTICIPATION
i) Electoral process
ii) Voting behavior
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iii) Political parties
iv) Pressure groups
v) Public opinion and media.
7. COMPARATIVE IDEOLOGIES
i) Capitalism
ii) Marxism
iii) Islamic Ideology and Nationalism.
8. INTERNATIONAL COMMUNITY
i) United Nations
ii) Regional Organizations: ECO, SAARC, OIC, NATO.
While dealing and teaching this paper references to the western &
Muslim political philosophers should be given quite frequently.
• Lectures




a. Quizzes
missed the quiz.
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QUALITY ASSURANCE

1. Theory and practice in political science by Mazher ul Haq, Lahore bookland 1996.
2. Introduction to political science by Muhammad Sarwar, Lahore Ilmi kutub khana,1996
3. Political Theory by V.D Mahajan, New Delhi, S.Chand & Co 2006
INTRODUCTION TO SOCIOLOGY
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Course Code: Soc- 301
Prerequisite: Nil

The course is designed to introduce the students with sociological concepts and the discipline. The focus of
the course shall be on significant concepts like social systems and structures, socio-economic changes and
social processes. The course will provide due foundation for further studies in the field of sociology.
COURSE CONTENTS
1. Introduction
a. Definition, Scope, and Subject Matter
b. Sociology as a Science
c. Historical back ground of Sociology
2. Basic Concepts
a. Group, Community, Society
b. Associations
i. Non-Voluntary
ii. Voluntary
c. Organization
i. Informal
ii. Formal
d. Social Interaction
i. Levels of Social Interaction
ii. Process of Social Interaction
a) Cooperation
b) Competition
c) Conflict
d) Accommodation
e) Acculturation and diffusion
f) Assimilation
g) Amalgamation
3. Social Groups
a. Definition & Functions
b. Types of social groups
i. In and out groups
ii. Primary and Secondary group
iii. Reference groups
iv. Informal andFormal groups
v. Pressure groups
4. Culture
a. Definition, aspects and characteristics of Culture
i. Material and non material culture
ii. Ideal and real culture
b. Elements of culture
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i. Beliefs
ii. Values
iii. Norms and social sanctions
c. Organizations of culture
i. Traits
ii. Complexes
iii. Patterns
iv. Ethos
v. Theme
d. Other related concepts
i. Cultural Relativism
ii. Sub Cultures
iii. Ethnocentrism and Xenocentrism
iv. Cultural lag
5. Socialization & Personality

a. Personality, Factors in Personality Formation
b. Socialization, Agencies of Socialization
c. Role & Status
6. Deviance and Social Control
a. Deviance and its types
b. Social control and its need
c. Forms of Social control
d. Methods & Agencies of Social control
7. Collective Behavior
a. Collective behavior, its types
b. Crowd behavior
c. Public opinion
d. Propaganda
e. Social movements
Leadership
• Lectures

22


a. Quizzes
missed the quiz.

QUALITY ASSURANCE
1. Anderson, Margaret and Howard F. Taylor. 2001. Sociology the Essentials. Australia: Wadsworth.
2. Brown, Ken 2004. Sociology. UK: Polity Press
3. Gidden, Anthony 2002. Introduction to Sociology. UK: Polity Press.
4. Macionis, John J. 2006. 10th Edition Sociology New Jersey: Prentice-Hall
5. Tischler, Henry L. 2002. Introduction to Sociology 7th ed. New York: The Harcourt Press.
6. Frank N Magill. 2003. International Encyclopedia of Sociology. U.S.A: Fitzroy Dearborn Publishers
7. Macionis, John J. 2005. Sociology 10th ed. South Asia: Pearson Education
8. Kerbo, Harold R. 1989. Sociology: Social Structure and Social Conflict. New York: Macmillan
Publishing Company.
9. Koening Samuel. 1957. Sociology: An Introduction to the Science of Society. New York: Barnes and
Nobel..
10. Lee, Alfred Mclung and Lee, Elizabeth Briant 1961. Marriage and The family.New York: Barnes and
Noble, Inc.
11. Leslie, Gerald et al. 1973. Order and Change: Introductory SociologyToronto: Oxford University
Press.
12. Lenski, Gevbard and Lenski, Jeam. 1982. Human Societies. 4th edition New York: McGraw-Hill Book
Company.
James M. Henslin. 2004. Sociology: A Down to Earth Approach. Toronto: Allen and Bacon.
ENGLISH II (Communication Skills)
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Course Code: ENG-351

Prerequisite: Nil

This course offers an opportunity to learn and apply, in daily cum professional life, practical principles of
interpersonal communication. Emphasis is placed on psychological, social, cultural, and linguistic factors,
which affect person-to-person interaction. Special attention will be given to human perceptions,
interpersonal dynamics, and patterns of inference, listening, verbal and visual symbols.
The course aims at introducing students with the key concepts of communication and their application
keeping line with the following objectives:
1. To increase the students’ ability to improve and utilize the skills necessary for a competent
interpersonal communicator.
2. To increase students’ understanding of his / her own as well as others behavior in the context of
communication.
3. To improve students’ communication skills in both social and professional contexts.
4. To improve students’ ability to demonstrate effective conflict resolution skills.
COURSE CONTENTS
Principles of Effective Communication: Concepts, Benefits and Characteristics of Effective
Communication. Basic forms of Communication (verbal & nonverbal Communication. Components of
communication (Communication Process). Problems of communication. Communicating in Organization.
Communication Channels. Intercultural communication in the global context. Oracy Skills (Listening &
Speaking). Literacy Skills (Reading & Writing). Visual and Oral presentation
Basic Principles of Communication: Seven C’s of effective communication
Communication Methods and Skills, Business Messages: Reading Skills, Extensive, Intensive,
Skimming and Scanning. Communication and the Technology context, Formal letters, Memorandum,
Curriculum Vitae (Résumé), Business E-Mails, Fax Messages.
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• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Communication for Business by Shirley Taylor (4th Edition)
2. Business Communication today by Courtland L. Bovee
3. The Effective Business Communication by Herta A Murphy (7th Edition).
PAKISTAN STUDIES
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Course Code: PS-351

Prerequisite: Nil

• Develop vision of historical perspective, government, politics, contemporary
Pakistan, ideological background of Pakistan.
• Study the process of governance, national development, issues arising in the modern age and
posing challenges to Pakistan.
COURSE CONTENTS
1. Historical Perspective
• Ideological rationale with special reference to Sir Syed Ahmed Khan, Allama Muhammad
Iqbal and Quaid-i-Azam Muhammad Ali Jinnah.
• Factors leading to Muslim separatism
• People and Land
• Indus Civilization
• Muslim advent Location and geo-physical features.
2. Government and Politics in Pakistan
Political and constitutional phases:

• 1947-58
• 1958-71
• 1971-77
• 1977-88
• 1988-99
• 1999 onward
3. Contemporary Pakistan
• Economic institutions and issues
• Society and social structure
• Ethnicity
• Foreign policy of Pakistan and challenges
Futuristic outlook of Pakistan
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• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Burki, ShahidJaved. State & Society in Pakistan,The Macmillan Press Ltd 1980.
2. Akbar, S. Zaidi. Issue in Pakistan’s Economy. Karachi: Oxford University Press, 2000.
3. S. M. Burke and Lawrence Ziring. Pakistan’s Foreign policy: An Historical analysis. Karachi:
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Oxford University Press, 1993.
4. Mehmood, Safdar. Pakistan Political Roots & Development. Lahore, 1994.
5. Wilcox, Wayne. The Emergence of Bangladesh., Washington: American Enterprise, Institute of
Public Policy Research, 1972.
6. Mehmood, Safdar. Pakistan KayyunToota, Lahore: Idara-e-Saqafat-e- Islamia, Club Road, nd.
7. Amin, Tahir. Ethno - National Movement in Pakistan, Islamabad: Institute of Policy Studies,
Islamabad.
8. Ziring, Lawrence. Enigma of Political Development. Kent England: WmDawson& sons Ltd, 1980.
9. Zahid, Ansar. History & Culture of Sindh. Karachi: Royal Book Company, 1980.
10. Afzal, M. Rafique. Political Parties in Pakistan, Vol. I, II & III. Islamabad: National Institute of
Historical and cultural Research, 1998.
11. Sayeed, Khalid Bin. The Political System of Pakistan. Boston: Houghton Mifflin, 1967.
12. Aziz, K. K. Party, Politics in Pakistan, Islamabad: National Commission on Historical and Cultural
Research, 1976.
13. Muhammad Waseem, Pakistan Under Martial Law, Lahore: Vanguard, 1987.
Haq, Noor ul. Making of Pakistan: The Military Perspective. Islamabad: National Commission on Historical
and Cultural Research, 1993.
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PRINCIPLES OF MACROECONOMICS
Prerequisite: Nil
COURSE DESCRIPTION:
The course is specially designed for the beginners with no formal background or little association with
economics. This course is an introduction to the macroeconomic indicators and issues such as national
income, unemployment, inflation etc. The course will establish the students understanding on the behavior
and performance of the economy as a whole.
COURSE OBJECTIVES:
By the end of the course, students will be able to understand introductory macroeconomic theory and
understand the concepts of macro aggregates like National Income, inflation, unemployment and etc. More
specifically, this course aims:
• To familiarize the student with the generally accepted principles of macroeconomics.
• To understand the computation of National Income Accounts.
• To Interpret and evaluate media reports on the macro-economy.

After completing this course, students should have developed a range of skills enabling them to understand
basic concepts of macroeconomics. By the end of this course it is expected that the student should be able
to:
• Acquire the basic knowledge of terminologies used in macroeconomics and the key elements
involved in the business decision
• Understand the meaning and components of the National Income Accounts, especially GDP and
GNP;
• Apply three different approaches to measure National Income, and the problems associated with
calculating, interpreting and comparing National Income statistics
• Understand the tools, advantages and drawbacks of fiscal policy and monetary policy and how these
policies operate.
29
COURSE CONTENT:
1. Introduction:
• What is macroeconomics and how economist thinks?
• The economy in aggregate,
• Complexities of the world of business,
• Scope of macroeconomics,
• Brief account of classical and the development of macro-economic after the World
War-II,
• Concept of business cycles: Boom and Depression,
• Three concerns of macroeconomics, Inflation, GDP growth and unemployment,
• Macroeconomic variables and their mutual relationship,
• Macro-models as abstraction from the real economy.
2. National Income Accounting:

• Definition and concept of national income,
• Measures of national income: Gross Domestic Product (GDP) and Gross National Product (GNP),
GDP at factor cost and at market prices, GDP deflator
• Computation of national income: Product, Income and Expenditure approaches,
• Circular flow of income,
• Nominal versus Real income,
• Per capita income and the standard of living.
• Measuring the cost of living: the consumer price index, CPI versus GDP deflator
• Measuring Unemployment rate
3. Components of Aggregate Demand:

• The Concept of Open and closed economy models,
• Concept of aggregate markets: Product, Money, Labor and Capital markets,
• Components of aggregate demand: Consumption, Investment and Government spending, Income
and expenditure identities.
• Money and Monterey policy,
• Fiscal Policy
• Lectures

30



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• N. Gregory Mankiw. Principles of Macroeconomics, (latest edition)
• Samulson and Nordrons. Economics, 18th Edition, (or latest available)
• Parkin, Michael. Macroeconomics, Edition Wesley International Inc. (latest edition)

31
STATISTICS – I

Prerequisite: Nil
COURSE DESCRIPTION
This course deals with statistical concepts, such as data presentation, graphs, measures of central
tendency and dispersion, correlation, and index numbers.
COURSE OBJECTIVES
By the end of the course, students will be able to collect, present and analyze the data. More specifically,
the course will equip students to:
• Understand techniques of data collection and data presentation
• Analyze data by using statistical techniques
• Communicate the results of statistical work, and more specifically write up the results of statistical
analysis in a report consisting of a non-technical abstract for decision makers, so that they can
improve their decisions.

Upon successful completion of the course, the student will:
1. Understand and be able to calculate basic statistical concepts(tabular and graphic representation
of data, measures of central tendency, dispersion and asymmetry, correlation)
2. Apply knowledge to solve simple tasks using computer software, such as MS Excel, SPSS.
3. based on the acquired knowledge to Interpret the meaning of the calculated statistical results
COURSE CONTENTS
1. Statistics and Statistical Thinking
• The Science of Statistics and its importance
• Fundamental Elements of Statistics
• The Role of Statistics in Critical Thinking and Ethics
2. Organizing Data
• Types of Variables Measurement Scales (nominal, ordinal, interval and ratio scale)
• Data Collection Methods
• Presentation of data through classification, tabulation, diagrams and graphs
32
3. Descriptive Measures
• Measures of Location: Mean, Median, Mode, Geometric Mean, Qartiles, Deciles& Percentiles
• Measures of Dispersion; Range, Mean Absolute Deviation, Standard Deviation, Coefficient of
Variation, Boxplots
4. Index Numbers
• Defining an Index Number
• Un-weighted Aggregates Index
• Weighted Aggregates Index
• Average of Relative Methods
• Quantity and Value Indices
5. Time Series Analysis:

• Introduction
• Components of Time Series
• Deseasonalization of Data
6. Probability
• Probability
• Rules of Probability
• Bayes Theorem
7. Random Variable and Discrete Distributions

• Discrete Random Variables
• Mean and Standard Deviation of a Discrete Random Variable
• The Binomial, Poison and other discrete distributions
8. The Normal Distribution

• Central Limit Theorem
• Introducing Normally Distributed Variables
• Areas under the Standard Normal Curve
• Working with Normally Distributed Variables
• Assessing Normality; Normal Probability Plots
• Lectures
33



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Anderson, Sweeney and Williams, Statistics for Business and Economics, South-Western, Cengage
Learning. (latest edition)
• Weiss, N. A. Elementary Statistics, Pearson. (latest edition)
• McClave, J.andSincich, T. Statistics Pearson. (latest edition)
• Lind, D. A. Statistical Techniques in Business and Economics, The McGraw-Hill Companies (latest
edition)
• Gerald, K. Statistics for Management and Economics, Pearson. (latest edition)

34
Introduction to Geography
Course Code: PS-354

Prerequisite: Nil
Course Description
This course attempts to impart knowledge about the relationship between man and physical, socio-
economic and cultural environment with special reference to Pakistan, including land, population, human
settlements, resources and related human activities.
Course Contents
1- Definition + Scope + Importance of Geography.
2- Branches of Geography.
3- Location of Pak (Relative + Geographical)
4- Geo-Strategic Importance of Pak
5- Forests of Pak
6- Agriculture
7- Deserts
8- Mountains of Pak
9- Mineral Resources
10- Industry
11- Ocean + Sea
• Lectures

35


a. Quizzes
missed the quiz.

QUALITY ASSURANCE

Ahmad, K. S. (1978) Geography of Pakistan, Oxford University Press, Oxford.
Burkey, J. S. (1991) Pakistan the continuing search for Nationhood, Western Press Oxford, UK.
Davidson, A. P. & Ahmad, M. (2003) Privatization and the Crisis of Agricultural Extension: The Case of
Pakistan, King's Soas Studies in Development Geography, Ashgate Publishing, New Delhi.
Dichter, D. (1967) Geography of N-W.F.P, Oxford University Press, Oxford.
Hameed, A. (1972) Study of the Middle Indus Basin, San Francisco State College, San Francisco.
Johnson, B.L.C (198).
Khan, F. K. (1991) Geography of Pakistan, Oxford University Press, Karachi
Spate, O. H. K. (2004) India and Pakistan, Munshiram Mohoanlal Publications Pvt. Ltd., UK.
Tayyeb, A. (1973) A Political Geography of Pakistan, Oxford University Press. Oxford.
36
SOCIAL ANTHROPOLOGY
Course Code: SOC: 351

Prerequisite: ECON 301: PRINCIPLES OF MICROECONOMICS
Course Description:
The course aims to introduce the pertinent concepts and theories about evolution of humans and culture.
The course will dilate branches of anthropology including physical anthropology, archaeology, socio-
cultural anthropology, and linguistic anthropology.
Course Content:
1. Introduction
• Meaning and Definition Social Anthropology
• Nature of Social Anthropology,
• Sub-Fields in Social Anthropology
• Scope of Social Anthropology.
2. Social Stratification in Simple Societies

• Egalitarian Societies,
• Ranked Societies,
• Class and Caste ridden Societies
3. Marriage and Family Institution

• Introduction to family and Marriage system
• Functions of family in rural areas
• Universality of Marriage,
• Ways of Marriage,
• Theories on INCEST TABOO,
• Forms of Marriage.
4. Kinship Structure
• Variation in Marital Residence,
• Major Systems in Kinship Terminology,
• Omaha System,
• Crow System,
• Iroquois System,
• Eskimo System.
37
5. Political Institution/Organization
• Types of Political Organizations,
• Resolution of Conflicts,
6. Religious Institution
• Universality of Religion,
• Variation in Beliefs Religious,
• Variation in Practice Religious,
• Religion and Magic,
7. Economic Institution
• Division of Labor,
• Reciprocity System,
• System of Redistribution.
• Lectures




a. Quizzes
missed the quiz.
38
QUALITY ASSURANCE
1. Alan, P. M. (1986). Anthropology: An Introduction. New York: Harper and Row.

2. Darshan, S. M. (2000). Encyclopedia of Anthropology. Vol. 7. Social Anthropology. New-
Delhi, Mittal Publication.
3. Epstien, A. L. (2012 Edited). The Craft of Social Anthropology. USA. New Jersey.
4. Evans, P. (2004). Social Anthropology. Taylor and Francis Group.
5. Everett, A. H. (1979). Culture and Social Anthropology. New Delhi: McGraw Hill Publishing
Co.
6. Fried, M. H. (1973). Exploration in Anthropology. Reading in Culture. Man and Nature,
New York: Thomas y. Cromwell Company
7. Havilland, W. A. (1975). Culture Anthropology. Holt Rinehart and Winston.
8. Hicks, D., and Margaret, G. A. (1996). Cultural Anthropology (2nd ed.). New York. Harper
Collins Publishers Inc.
9. Hobel, E. A. (1972). Anthropology: The Study of Man (4th ed.), New York, McGraw-Hill.
39
ENGLISH III – (TECHNICAL WRITING)
Course Code: ENG: 401

Prerequisite: Nil
Course Description:
This course will introduce students to the basic principles of effective / skillful writing and will develop the
understanding of the students on academic and technical writing skills. Students will understand and know
how to follow the stages of writing process and will apply these to technical and workplace writing tasks.
Students will learn how to incorporate clarity and utility in their writing, learn stylistic methods for effective
writing and to be aware of ethical issues in technical writing. Also, Students will read, analyze, and interpret
material from technical fields, and will practice research and writing skills appropriate for technical topics.
Students will also be familiarized with basic sources and methods of research and documentation on topics
including on-line research. They will be able to synthesize and integrate material from primary and
secondary sources wedded to their own ideas in research papers.
Course Content:
Introduction to Technical / Skillful writing: What is Technical / Skillful writing & its purpose, Importance of
Technical / Skillful writing, distinguishing features / Characteristics of Technical writing, Basic aspects and
principles of Technical / Skillful writing and Technical writing style. The Technical writing Process: An
overview of the process, Pre-writing, Writing and Post-writing. Writing an Outline: What is an outline,
Principles of making outline and arranging ideas in an outline. Writing an Abstract and Summarizing a text:
What is an abstract, What is summarizing, Types of summary and abstract and Difference between outline,
abstract and summary. Description: Common elements of descriptions, Planning the mechanism
description, Writing the mechanism description, Planning the process description and Writing the process
description. Report writing: What is a report writing, Difference between a report and other forms of writing,
Formal / Informal reports, Informal reports, Formal reports and Types of formal reports. Proposals writing:
External proposals, Internal proposals and Types of internal proposals. Writing a Review: What is a review
and Types of review. Writing Advertisements, Note Taking, Writing Notices, Writing Circulars and Writing
Minutes of a Meeting / Conference.
40
• Lectures


Midterm exam will consist of applied questions, multiple choice and case studies / scenario Analysis.


a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Technical Report Writing by Steven E. Pauley & Daniel G. Riorden
2. Technical Writing and specification by Gildon H.K, Megraw Hill Book Company.
3. Technical Writing by Steve M. Chnical
41
4. Writing Advanced by Ron White. Oxford Supplemantary Skills. 3rd Impression 1992.
5. College Writing Skills by John Langan. Mc-Graw-Hill Higher Education 2004.
6. Pattern of College Writing (4th Edition) by Laurie G. Kirzner& Stephen R. Mandell. St. Martin’s
Press.
INTERMEDIATE MICROECONOMICS

Prerequisite: ECON 301: PRINCIPLES OF MICROECONOMICS
COURSE DESCRIPTION:
Intermediate Microeconomics is the second course of Microeconomics in the BS (Economics) program that
builds up an extended knowledge of microeconomic concepts, principles and theories. This course mainly
focuses on the conceptual foundations of microeconomics: prices, markets, optimization, equilibrium, and
comparative statics. The course presents a logical and analytical framework for the observed economic
phenomena. The course includes the study of consumer theory, theory of demand, producer theory, perfect
competition, imperfect competition, externalities, public goods, and government interventions. Basic
algebra and calculus, along with graphical techniques, will be used to analyse these microeconomic
concepts.
COURSE OBJECTIVES:
The objective of the course is to extend the knowledge of the basic microeconomic principles that will
provide the foundation for future studies in economics.
1. The course is aimed to develop the economic way of thinking to tackle the issues like resource allocation
of consumers and producers.
2. The course is aimed to give an insight into how economic models can help us think about important real
world phenomena, like reasons behind the rise and fall of prices and wages, how firms earn profits and
why they go out of business.
3. The course is aimed to analyze the role of decision making agents in the economy and their impact on
input and output prices and resource allocation.
4. The course is aimed to analyze critically the role of free markets, the possible reasons behind market
failure and the effects of government intervention in the market.
5. The course is aimed to obtain basic knowledge of the issues that may arise when market information is
asymmetric.
42
• Acquire proficiency to employ numerical and graphical techniques as well as verbal presentation of
microeconomic concepts.
• Understand the concepts microeconomic theories and models in terms of their policy implications,
advantages and limitations.
• Explains consumers', firms', and market behaviour using mathematical tools and diagrams the
problems.
• Demonstrate and apply microeconomic models to design solutions to practical economic issues and
real-world scenarios.
COURSE CONTENT:
1. Introduction
• Analyzing Economic Problems
• Constructing Economic Models
• Optimization Principle
2. Consumer Theory
• Budget Constraint and its Application
• Utility and Preferences
• Indifference Curve Analysis
• Optimal Choice of Consumer
• Application of Consumer Theory in choosing Taxes
• Income Effect
• Substitution Effect
• Price Effect as a combination of Income and Substitution Effect
• Decomposition of Price Effect into income & substitution effects (all approaches)
• Marshallian and Hicksian Demand Curves (normal, inferior and Giffen goods)
3. Theory of Demand and Supply

• Income Consumption Curve and Engel Curves
• The Price Consumption Curve and the Demand Curve
• Derivation of Demand Curve
• Demand Function
• Supply Function
• Supply and Demand Equilibria
• Comparative Statics
• The Inverse Demand Function
4. Producer Theory
• Producer’s Objective
• Technology Constraints
43
• Short Run and Long Run Production Function and Cost
• Diminishing Marginal Product
• Diminishing Technical Rate of Substitution
• Returns to Scale and Cost Function
• Isoquant and Isocost Analysis
• Cost Minimization in Short and Long run
• Short-Run and Long run Profit Maximization
5. Markets Analysis
• Perfectly Competitive Markets: Analysis and Application
o Short Period Analysis (equilibrium cases, supply curve of firm)
o Long Period Analysis (equilibrium of firm, supply curve of industry)
• Monopoly Markets: Analysis and Application
o Short Period Analysis (equilibrium cases, why no supply curve of firm)
o Long Period Analysis (equilibrium of firm, sub-optimum, optimum and super-optimum
cases)
o Price Discrimination (concept, need, possibility, forms and degrees of price
discrimination)
• Monopolistic Competition: Analysis and Application
o Short Period Analysis (equilibrium cases)
o Long Period Analysis (equilibrium of firm)
• Oligopoly: Analysis and Application
o Cournot Model
o Bertrand Model
o Stackelberg Model
o Sweezy’s Kinked Demand Model
• Lectures


44

a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Hal R. Varian, Intermediate Microeconomics, 9th Edition, 2014, W.W. Norton & Company, ISBN-
13: 9780393123968
• Walter Nicholson and Christopher M. Snyder, Intermediate Microeconomics and Its Application,
11th Edition, Thomson South-Western, ISBN-13: 9781133189022
• Robert S. Pindyck and Daniel L. Rubinfeld, Microeconomics, Prentice Hall, Fifth Edition, ISBN:
0130165832

45
Introduction to Information and Communication Technology
Course Code: CS: 301

Prerequisite: Nil

This is an introductory course on Information and Communication Technologies. Topics include ICT
terminologies, hardware and software components, the internet and world wide web, and ICT based
applications.
After completing this course, a student will be able to:
* Understand different terms associated with ICT
* Identify various components of a computer system
* Identify the various categories of software and their usage
* Define the basic terms associated with communications and networking
* Understand different terms associated with the Internet and World Wide Web.
* Use various web tools including Web Browsers, E-mail clients and search utilities.
* Use text processing, spreadsheets and presentation tools
* Understand the enabling/pervasive features of ICT
COURSE CONTENTS
Basic Definitions & Concepts
* Hardware: Computer Systems & Components
* Storage Devices, Number Systems
* Software: Operating Systems, Programming and Application Software
* Introduction to Programming, Databases and Information Systems
* Networks
* Data Communication
* The Internet, Browsers and Search Engines
* The Internet: Email, Collaborative Computing and Social Networking
* The Internet: E-Commerce
* IT Security and other issues
* Project Week
* Review Week
• Lectures

46



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

Recommended Books
1. Introduction to Computers by Peter Norton, 6th International Edition (McGraw HILL)
2. Using Information Technology: A Practical Introduction to Computer & Communications by Williams
Sawyer, 6th Edition (McGraw HILL)
3. Computers, Communications & information: A user's introduction by Sarah E. Hutchinson, Stacey. C.
Swayer
4. Fundamentals of Information Technology by Alexis Leon, Mathews Leon Press.
47
ECON 241: INTERMEDIATE MATHEMATICS

Prerequisite: Nil
COURSE DESCRIPTION:
This course is the second part of a compulsory two-course sequence. This part is to be taught in Semester
II following the first part in Semester I. The first course covered single variable functions and optimization
and this course covers the essentials of linear algebra and optimization techniques required for the analysis
of functions of several variables that are commonly used in economics.
COURSE OBJECTIVES:
1. To transmit the body of basic mathematics that enables the study of economic theory at the
undergraduate level.
2. To applying mathematical techniques to economic theory in general.
3. To be able to apply mathematical strategies in applied contexts.
4. To learned mathematical concepts and skills relevant to Economics.

• Acquire the basic knowledge some more advanced areas of mathematics from among probability, real
analysis, abstract algebra, complex analysis, partial differential equations, and discrete mathematics.
• Understand calculus, basic discrete mathematics, and linear algebra.

• Solve and apply mathematical methods in applied contexts.
• Evaluate differential equations, Linear algebra, Functions of several real variables and Multi-variable
optimization
• Demonstrate algebraic facility with algebraic topics including linear, quadratic, exponential,
logarithmic, and trigonometric functions
COURSE OUTLINE:
1. Differential equations:
• First-order differential equations;
48
• Integral curve, direction diagram and slope field; qualitative theory and stability.
2. Linear algebra:
• Vector spaces: algebraic and geometric properties,
• Scalar products, norms, orthogonality; linear transformations: properties,
• Matrix representations and elementary operations;
• Systems of linear equations: properties of their solution sets;
• Determinants: characterization, properties and applications.
3. Functions of several real variables:

• Geometric representations: graphs and level curves;
• Differentiable functions: characterizations, properties with respect to various operations and
applications;
• Second order derivatives: properties and applications;
• The implicit function theorem, and application to comparative statics problems;
• Homogeneous and homothetic functions: characterizations and applications.
4. Multi-variable optimization:
• Convex sets; geometric properties of functions:
• Convex functions, their characterizations, properties and applications; further geometric properties
of functions:
• Quasi convex functions, their characterizations, properties and applications;
• Unconstrained optimization: geometric characterizations, characterizations using calculus and
applications;
• Constrained optimization with equality constraints: geometric characterizations,
• Lagrange characterization using calculus and applications; properties of value function: envelope
theorem and applications.
• Lectures

49


a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational Asia, Delhi,
2002.
• A. C. Chiang, Fundamental Methods of Mathematical Economics, N. Y, McGraw-Hill Co, Latest edition.

50
PRINCIPLES OF MANAGEMENT
Course Code: MGT-351

Prerequisite: Nil

This course is intended to expose students to the theories of management, organizational theory, and the
practice of management in contemporary organizations from a conceptual, analytical, and pragmatic
perspective.
COURSE CONTENTS
An Overview of Management
Definitions of Management
Characteristics of Management
Different between Management and Administration
Functions of Management
Functions a brief Treatment
Planning, Organizing, Staffing
Directing, Controlling, Coordination
Principles of Management
Taylor’s Principles
Fayol’s Principles
General Principles
Importance and Scope of Management
Importance of Management
Scope of Management
Nature of Management
Management as an art
Management as a Science
Management as a Profession
Planning
Definition, Nature and Characteristics
Importance of Planning
Limitations of Planning
Essentials of a good Plan
Steps in Planning Process
51
Types of Planning
Decision Making
Meaning and Elements of Decision Making
Importance and Process of Decision Making
Salient Features of a good or an Effective Decision
An Effective Decision Making
Organizing
Nature and Importance of Organization
Steps in the Process of Organization
Formal and Informal Organization
Principles of Organization
Communication
Definition of Communication
Process of Communication
Importance of Communication
Types of Communication
Barriers to Communication
Over Coming the Barriers
Characteristics of a good Communication System
Staffing
Definition of Staffing, Sources of Recruitment
Steps in Selection Process
Orientation or Induction
Training and Education
Types and Methods of Training
Directing / Direction
Definition, Nature and Importance
Principles & Techniques
Leadership
Definition
Traits / Qualities of a Successful Leader
Leadership Styles, Function of Leader Ship
Motivation
Meaning and Importance
Financial and Non Financial Incentives
Theory X and Theory Y
Maslow’s Need Priority Model
52
Controlling
Definition of Controlling
Characteristics of Controlling
Objectives of Controlling
Steps in the Process of Controlling
Essentials of an Effective Control System
• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE
53
1. Principles and Practice of Management 1998 Edition, Terry, Prentice Hall USA.
2. Practice of Management, 1997 Edition P.F. Duck Ker, Macmillion, London.
3. Fundamentals of Management 2004 Edition, Prof. Fazli Wahid IBMS/CS Agricultural University
Peshawar.
54
Introduction to Philosophy
Course Code: PHPY: 352

Prerequisite: ECON 403: STATISTICS – I (university may relax this prerequisite)
COURSE DESCRIPTION
The course introduces undergraduate students to some of the main concerns in philosophy concentrating
on the works of major thinkers such as Plato, Aristotle, Descartes, Hume, Kant, Hegel, Marx, Kierkegaard,
Husserl, Sartre, Foucault, and Derrida, to name a few. The class discussions will around broad
philosophical concerns: the nature of philosophy, the nature and limits of human knowledge, the scope and
limits of human freedom, the differences between right and wrong conduct, the nature of good life, and the
meaning and the value of human existence. The students will thus be given introductory overview of
different areas of philosophy beginning with Plato. The topics for discussion will include: Morality, Free Will,
Metaphysics and Knowledge. The basic principles and methods of logical reasoning will be introduced and
students will be given opportunity to participate actively in class discussions.
Course Objectives
● Understand basic concepts of philosophy in the fields of metaphysics, axiology, and epistemology.
● Understanding of philosophical terms
COURSE CONTENTS
Week-1
• Definition, Subject Matter, and Scope of Philosophy.
Week-2
• Metaphysics. (Branches: Ontology, Cosmology and Philosophical Psychology)
Week-3
• Epistemology. (Sources of Knowledge, Theories of Truth, Theory of Knowledge)
Week-4
• Epistemology (Empiricism, Rationalism, Intuitionism)
Week-5
• Axiology (Logic, Psychology, Ethics, Aesthetics.)
55
Week-6
• Philosophical discussion in the light of previous Lectures on the issues arises in
Psychology.
Week-7
• Materialism and Naturalism
Week-8
• Idealism and Realism
• Types of Idealism and Realism.
• . Subjective, Objective and Personal Idealism and Realism.
Week-9
• Mid-Term Exam
Week-10
• Socrates , Plato and Aristotle Philosophy
Week-11
• Existentialism, Vitalism and Iqbal’s philosophy.
Week-12
• Pragmatism
• . Radical Empiricism, Pragmatic Method, Pragmatic Theory of Truth.
Week-13
• Logical Positivism
Week-14 Modern philosophers
Week-15
• Appearance Vs Reality.
Week-16
• An overview of the whole course and Presentation.
• Lectures
56



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Durant, Well., Story of Philosophy, Services Book Club by Pap-Board Publishers Ltd.
Rawalpindi, Pakistan, 1985.
2. Haque, Intisar-ul., Philosophy of Religion, Feroz Sons, Lahore, 1991.
3. Russell, Bertrand., History of Western Philosophy, Routledge, London, 2000.
4. Stace, W. T., A Critical History of Greek Philosophy, National Book Foundation,
Islamabad, 2008.
5. Titus, Harold H., Living Issues in Philosophy, 4th edition, American Book Company, New
York, 1964.
57
ENGLISH IV (ACADEMIC READING AND WRITING)
Course Code: ENG- 453

Prerequisite: Nil

To enable the students to:
• Read Academics text critically
• Write well organized academic text e.g. assignments, examination answers
Write narrative, descriptive, argumentative essays and reports (assignments)
COURSE CONTENTS
Critical Reading
Advanced reading skills and strategies building on Foundations of English I & II courses in
semesters I and II of a range of text types e.g. description, argumentation, comparison and
contrast.
Advanced Academic Writing
Advanced writing skills and strategies building on English I & II in semesters I and II respectively
• Writing summaries of articles

• report writing
• Analysis and synthesis of academic material in writing
• Presenting an argument in assignments/term-papers and examination
answers
• Lectures

58


a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Aaron, J. 2003. The Compact Reader. New York: Bedford.
2. Axelrod, R. B and Cooper, C. R. 2002. Reading Critical Writing Well: A Reader and Guide.
3. Barnet, S. and Bedau, H. 2004. Critical Thinking, Reading and Writing: A Brief Guide to Writing. 6th
Ed.
4. Behrens & Rosen. 2007. Reading and Writing Across the Curriculum.
5. Gardner, P. S. 2005. New Directions: Reading, Writing and Critical Thinking.
6. George, D. and Trimbur, J. 2006. Reading Culture: Context for Critical Reading and Writing. 6th Ed.
7. Goatly, A. 2000. Critical Reading and Writing: An Introductory Course. London: Taylor & Francis.
8. Grellet, F., Writing for Advanced Learners of English. CUP.
9. Jordan, K. M. and Plakans, L. 2003. Reading and Writing for Academic Success.
10. Jordon, R. R. 1999. Academic Writing Course. CUP.
11. Smith, L. C. 2003. Issues for Today: An Effective Reading Skills Text
Withrow, J., Effective Writing. CUP.
59
INTERMEDIATE MACROECONOMICS

Prerequisite: ECON 351: PRINCIPLES OF MACROECONOMICS
COURSE DESCRIPTION:
The course is designed to teach the basic concepts and terms used in Macroeconomics. It will help the
students to understand how the economies behave keeping in view the National Income, inflation,
unemployment and macroeconomic fluctuations in the long run and short run. It will discuss Aggregate
Demand and Aggregate Supply. The course will help students to think like economists.
COURSE OBJECTIVES:
1. To understand concept of National income what is it and how it works, causes and effects of inflation and
unemployment,
2. To learn how to critically analyze the economic fluctuation including short run and long run shocks in the
economy
3. To be able to analyze and relate the facts and figures (numbers) with theory to support and strengthen
the research and critical analysis.

By the end of this course it is expected that the students will be able to
• Acquire the knowledge about the monetary system, inflation and unemployment
• Understand the concept of market Equilibrium keeping in view the demand and supply of goods
and services
• Interpret and analyze the data, graphs and trends in the macroeconomic indicators
• Understand the concepts of Economic Fluctuations in the goods and money market in the light of
IS and LM curves
• Demonstrate macroeconomic concepts by using appropriate terms and explaining them with
country specific examples
• Apply macroeconomic theories and models to address the Macroeconomic issues
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COURSE OUTLINE:
1. Introduction to Macroeconomics
2. National Income: Where it Comes from and Where it Goes

• What determines the Total Production of Goods and Services?
• How Is National Income Distributed to the Factors of Production?
• What Determines the Demand for Goods and Services?
• Equilibrium in the Market for Goods and Services
3. Money, Prices and Unemployment
The Monetary System: What it is and How it Works?

• What Is Money, its types and role
• How the Quantity of Money is Controlled and measured
Inflation: It Causes, Effects, and Social Costs

• The Quantity Theory of Money
• Seigniorage: The Revenue From Printing Money
• Inflation and Interest Rates
• The Nominal Interest Rate and the Demand for Money
• The Social Costs of Inflation
• Hyperinflation
Unemployment
• Job Loss, Job Finding, and the Natural Rate of Unemployment
• Job Search and Frictional Unemployment
• Real-Wage Rigidity and Structural Unemployment
• Labor-Market Experience: The United States
• Labor-Market Experience: Europe
4. The Economy in The Short Run: Economic Fluctuations

Introduction to Economic Fluctuations
• The Facts About the Business Cycle
• How the Short Run and Long Run Differ
• The Model of Aggregate Supply and Aggregate Demand
• Aggregate Demand: The Quantity Equation, Slope and Shifts in the Aggregate Demand Curve
• Aggregate Supply curve in the Long Run and Short Run
• Stabilization Policy : Shocks to Aggregate Demand and Aggregate Supply
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Aggregate Demand I: Building the IS-LM Model
• The Goods Market and the IS Curve
• The Money Market and the LM Curve
• The Short-Run Equilibrium
Aggregate Demand II: Applying the IS-LM Model

• Explaining Fluctuations with the IS–LM Model
• IS–LM as a Theory of Aggregate Demand
• The Great Depression
Aggregate Supply & the Short-run Tradeoff between Inflation &Unemployment

• The Basic Theory of Aggregate Supply
• Inflation, Unemployment, and the Phillips Curve
• Lectures




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missed the quiz.
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QUALITY ASSURANCE

• Mankiw, N. Gregory. Macroeconomics.8th Edition, Worth Publishers.
• Abel, Andrew, B., Bernanke, Ben S. &Croushore, D. Macroeconomics, Seventh Edition. Addison-
Wesley.
• Williamson, Stephen D. Macroeconomics, 4th Edition, Prentice Hall.
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STATISTICS - II

Prerequisite: ECON 403: STATISTICS – I (university may relax this prerequisite)
COURSE DESCRIPTION
This course deals with inferential statistical. Therefore, focus will be on the techniques by which decisions
about a statistical population are made on the basis of sample data. It will cover topics related to sampling,
estimation, testing of hypothesis and statistical inference.
COURSE OBJECTIVES:
By the end of the course, students will be able
• To draw conclusions about population based on sample data,
• Understand techniques of sampling, estimation, hypotheses testing, experimental design
• Analyze the techniques of statistical inference.

• UNDERSTAND the purpose and techniques of sampling
• APPLY the techniques of Statistical Inference
• INTERPRET the meaning of the calculated statistical results
COURSE CONTENTS
1. Sampling and Sampling Distributions
• Sampling techniques; random, cluster, systematic, convenience, judgment and stratified ° Simple
random sampling
• Point estimation
• Introduction to sampling distributions
• Properties of point estimators
2. Interval Estimation
• Population with  known
• Population mean with  unknown
• Determining the sample size
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• Population proportion
3. Hypothesis Testing
• Developing null and alternative hypothesis
• Type I and type II error
• Population mean with  known
• Population mean with  unknown
• Population Proportion
• Hypothesis testing and decision making
• Calculating probabilities of Type-II error
• Determining the sample size for hypothesis testing about a population mean.
4. Statistical Inference About Mean and Proportions with Two Populations

• Inference about the difference between two population means with known and unknown values of
1 and 2
• Inference about the difference between two population means: matched samples
5. Inferences about Population Variances

• Inferences about a population variance
• Inference about two population variances
6. Tests of Goodness of Fit and Independence

• Goodness of Fit: A multinomial population
• Tests of independence
• Goodness of fit tests
7. Analysis of Variance and Experimental designs

• An introduction to analysis of variance
• Analysis of variance: testing for the equality of k population means
• Multiple comparison procedures
• An introduction to experimental design ° Randomized block design °Factorial experiments
8. Nonparametric Methods
• Sign test Wilcoxon test
• Mann-Whitney-Wilcoxon test ,Kruskal-Wallis test , Rank correlation
• Lectures
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a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Anderson, Sweeney and Williams, Statistics for Business and Economics,Cengage Learning.
• Wonnacott, T.H. and Wonnacott, R. J., Introductory Statistics, John Wiley & Sons, New York.
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DEVELOPMENT ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION:
This course examines the process of economic development, including the determinants of
underdevelopment, poverty and inequality. The course focuses on describing and understanding the many
problems faced by developing countries and their citizens. Through the course, we discuss policy
implications of the topics we explore. We begin with an overview of economic development and models
economists use to understand the process of economic development. Afterward, we consider the
impediments to development and how they can potentially be addressed. Both microeconomic issues such
as, health, education, credit, etc., and macroeconomic issues such as land reforms, industrial policy,
savings, trade, etc. will be addressed.
COURSE OBJECTIVES :
1. To introduce students to the basic theory of development economics and to the different economic
concerns of developing countries.
2. To facilitate students to be able to engage with the development economic literature on their own
with an intermediate level knowledge of current issues and policies.
3. To understand and analyze key development economic theories affecting a number of
contemporary development issues.
4. Reflect on and critically examine the links between alternatives development economic theories
and approaches.
5. Review the policy implications of these key development economic theories.
• ACQUIRE the UNDERSTANDING of various development theories and their policy outcomes.
• UNDERSTAND different concepts in relation to the development of the developing countries.
• SOLVE the critical development issues, such as poverty, human development, inequality etc.
• EVALUATE the available solutions and alternatives outcomes
• DEMONSTRATE, compare and Contrast alternative development theories and hypotheses
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COURSE CONTENTS
1. An Overview of Development:
• Historical experiences of developing countries
• Broad conceptual explanation of underdevelopment
• Economic Growth versus economic development
• Comparative economic development
• Emerging major issues of developing world
• Basic theories of growth and development, and
• Contemporary models of underdevelopment/development
2. Domestic Problems and Policies:

• The nexus of poverty, inequality and underdevelopment
• The distribution of wealth and resources
• Poverty and nutrition
• Demographic transition, population growth; its causes and consequences
• Urbanization/rural-urban migrations; its causes and consequences
• Human capital; education, health and development
• Human Development Index
• Agriculture and rural development
• Land distribution
• Environment and natural resources
• Feudalism and Asiatic Mode of Production
• Colonial Path and Asiatic Capitalism in South Asia
• Agrarian class relations in Pakistan
• Industrial relations in Pakistan
3. International Problems and Policies:

• Trade/access to factor and product markets and development
• Balance of payment problems
• Debt, stabilization policies
• International shocks, foreign finance
• Foreign assistance and aids
• International wars, conflicts and refugees
• Migration and remittances
4. Markets and Development:

▪ The role of markets in development,
▪ Credit, financing, SME’s, industrial and trade policies, land, labor and agriculture and livestock
▪ Market failure and government intervention
▪ Property rights and investment incentives
▪ Technology adoption and learning
▪ Stabilization policies
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5. Institutions and Development:
• What are the institutions?
• Political institutions Versus economic institutions
• The Role of Institutions in Development
• The political economy and corruption
• Democracy Versus dictatorship
• Decentralization and federalism
• Various tiers of government
• Good governance, corruption
• Rent seeking
• Ethnic conflict
• Gender inequality
• Voting and lobbying
• The role of civil society
• The role of state for economic development
• The Informal institutions and development
• Social network and social capital
• Various tiers of government
6. Alternative Theories of Economic Development

• Culture Hypothesis
• Geography Hypothesis
• Institutions Hypothesis
• Lectures


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a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Todaro, M. P. and S. C. Smith. (2011). Economic Development, 11th edition, Palgrave.
• Debraj Ray (998).Development Economics, Princeton University Press.
• Daron Acemoglu and James Robinson (2012). Why Nations Fails: The Origins of Power, Prosperity
and Poverty, Crown Publishing Group.
• Banerjee and E. Duflo (2012). Poor Economics, Public Affairs
• Taimur Rahman.(2012). The Class Structure of Pakistan, Oxford University Press.
• Vaqar Ahmed (2017). Pakistan’s Agenda for Economic Reform, Oxford University Press
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LOGIC AND CRITICAL THINKING
Course Code: PHPY-351

Prerequisite: Nil
COURSE DESCRIPTION
The most fundamental question of logic is this: Given any two statements, does the one follow from the
other? Thus, the “follows from” or “entailment” relation is central to the study of logic. The course is not
about how people actually reason a subject more appropriate for psychology or sociology but how one
should and should not reason. At the very least, the object is to introduce students to some of the
necessary features of sound reasoning through a study of both its formal and informal features. Hence, the
course has a strong normative component. Thus, in addition to thinking of logic as the study of entailment,
one could think of it as the study of the difference between good and poor reasoning, particularly as these
are exemplified in arguments.
Critical thinking is good writing skills, is necessary not only to a well-rounded education, but also to getting
along well in one’s private and professional life. Logic alone is not the same as critical thinking. Moreover,
one can no more expect critical thinking to be taught in a single course than one would expect good writing
or effective speaking skills to be taught in a single course. On the other hand, thinking cannot be “critical” if
it violates elementary logical norms. The discipline of logic brings one to awareness of logic’s norms, and
can thereby be one’s best friend in the attempt to think critically.
LEARNING OUTCOME
1. Students should be able to make distinctions among and identify (a) the truth or falsity of beliefs and
the truth or falsity of statements (b) the truth or falsity of statements and the validity or invalidity
arguments, (c) the emotional appeal of an argument and its logical force, (d) deduction and induction,
(e) arguments and explanations, (f) decision procedures and proofs.
2. Students should be able to (a) test the validity of arguments using Venn diagrams, truth tables, and
truth trees and (b) construct formal proofs using rules of inference and rules of equivalence. In order to
develop these skills it will be necessary to learn the fundamental principles of elementary term logic
and elementary propositional (or sentential) logic.
3. Students should appreciate the roles of both deduction and induction in science, including the ways in
which these forms of reasoning are used and abused in pseudo-science. Particularly relevant to these
questions is learning to mark the distinction between auxiliary and ad hoc hypotheses.
Week wise distribution of course contents

Weeks Course Contents
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Week-1 Definition of Logic
Logic as a science and an art
Scope of logic, the laws of logic
Induction and essential characteristics of induction.
Week Categorical proposition and classes, Quality, quantity and distribution, The traditional square of
2&3 opposition, Immediate inferences, conversion, Observation, contraposition, inversion, Existential
import.
Week-4&5 Symbolism and diagram for categorical proposition, Three basic uses of language, Discourse
serving multiple functions, The form of discourse, Emotive words
Week – Kinds of agreement and disagreement
6&7 Emotively neutral language
MID TERM
Week The purpose of definition, The types of definition, Various kinds of meaning
9&10 Techniques for defining
Week Standard form categorical syllogisms, The formal nature of syllogistic arguments, Venn diagram
11&12 techniques for testing syllogisms
Reducing the number of terms in categorical syllogism, Translating categorical proposition into
standard forms
Week Rules and fallacies, Uniform translation, Enthymemes, The dilemma, Informal fallacies
13&14 Fallacies of ambiguity
Week – 15 The avoidance of fallacies
Week – 16 Group Presentations
Final Examination
• Lectures



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a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Irving M. Copi: Introduction to logic
2. Karamat Hussain: A textbook of Deductive Logic
3. Karamat Hussain: A textbook of Inductive logic
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Introduction to Psychology
Course Code: PSY-311

Prerequisite: Nil
Course Objectives: The main aim is to familiarize students with history, main concepts, methods, and
theoretical frameworks in psychology. The course will help students appreciate the human nature and its
related concepts, thereby will gain insight into human behavior and human relationships.
Course Outcome: After successful completion of this course the students will be able to:
• Have a grasp over basic concepts and theoretical perspectives explaining human
behavior. They will be able to appreciate the complexity of human behavior and
relationships.
•They will be able to understand Psychology as science and empirical methods used for
understanding different aspects of human behavior.
Course Contents:
1. Understanding Psychology
• Psychology: Scientific perspective
• Historical perspective
• Schools of psychology
• Methods of psychology
• Ethical issues
• Fields of psychology and their application
2. Biological Basis of Behavior

• Neuron and its function
• Central nervous system
• Peripheral nervous system
• Endocrine system
3. Sensation and Perception

• Senses: Vision, audition, smell, taste and kinesthetic
• Introduction to perception
• Gestalt principles
• Binocular and monocular cues
• Illusions and extra sensory perception
4. Learning
• Definition of learning
• Types of learning: Classical and operant conditioning
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• Punishment and its effects
• Latent and observational learning
5. Memory
• Definition and types of memory
• Processes and techniques of improving memory
• Forgetting: Nature and causes
6. Cognition and Language

• Concept of cognition
• Problem solving
• Judgment and decision making
• Language development
• Language and cognition
• Language and culture
7. Intelligence and Creativity

• Concept of intelligence
• Theories of intelligence
• Assessment of intelligence
• Mental retardation
• Concept of creativity and its stages
8. Motivation and Emotion

• Introduction to motivation
• Factors affecting motivation
• Introduction to emotions
• Types of emotions
• Physiology and emotion
• Theories of emotion
9. Personality
• Defining personality
• Theories of personality
• Personality assessment
10. Social Thinking and Social Influence

• Social facilitation
• Attribution theory
• Crowd behavior
• Conformity, Obedience
• Helping behavior
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• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Atkinson R. C., & Smith, E. E. (2000).Introduction to psychology (13th ed.). NY: Harcourt
2. Brace College Publishers.
3. Coon, D., &Mutterer, J. (2008).Introduction to psychology: Gateways to mind and behavior
4. (12th ed.). USA: Wadsworth Cengage Learning.
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5. Fernald, L. D., & Fernald, P.S (2005).Introduction to psychology.USA; WMC Brown
6. Publishers.
7. Fredrickson, B., Nolen-Hoeksema, S., Loftus, G., & Wagenaar, W. (2009). Atkinson &
Hilgard’s
8. introduction to psychology (15th ed.). USA: Wadsworth.
9. Glassman, W.E. (2000). Approaches to psychology.Open University Press.
10. Hayes, N. (2000). Foundation of psychology (3rd ed.). UK: Thomson Learning.
11. Kalat, J. W. (2010). Introduction to psychology.USA: Cengage Learning, Inc.
12. Lahey, B. B. (2004). Psychology: An introduction (8th ed.). UK: McGraw-Hill Companies,
13. Inc.
14. Leahey,T. H. (1992). A history of psychology: Main currents in psychological thought. New
15. Jersey: Prentice-Hall International, Inc.
16. Myers, D. G. (2011).Psychology (10th ed.). USA: Wadsworth Publishers.
17. Ormord, J. E. (1995). Educational psychology: Developing learners. USA: Prentice Hall,
Inc.
18. Rathus, S. (2011). Psychology: Concepts and connections (10th ed.). USA: Wadsworth
Cengage
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Microeconomic Perspective of Economic Development
Course Code: Dev-501

Prerequisite: Nil
COURSE DESCRIPTION:
This course aims to strengthen the understanding of students to apply general microeconomic concepts to
the issues of development, with reference to specific markets, sectors and economies. It familiarizes
students with the core concepts and models of production and distribution, specifically under conditions of
scarcity – becoming the determinants for issues like poverty, inequality and well-being. This course also
introduces students with the theories of economic change at local, national and global levels, with a
particular reference to low and middle income countries. This course equips students to develop an
understanding of the many contributions of economic analysis to policy formulation – in particular for
promoting sustainable development.
Course Contents
1. Micro foundations of Economic Development
2. The "Laws of Demand" and Applications in Development
3. 'Production and Output Decisions' in Development
4. Market Structure
5. Labour Markets
6. Capital Markets
7. Market Success and Market Failure
8. Macro-Micro Links in Economic Development
Text and Books Reference:
Banerjee, A. and Duflo, E., 2011. Poor Economics: Barefoot Hedge-fund Managers, DIY Doctors and the
Surprising Truth about Life on Less than $1 a Day. Penguin Books: London, UK.
Todaro, M.P. and Smith, D.C., 2011. Economic Development. Pearson Education, Addison Wesley.
Eleventh edition.
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• Lectures
• Group Discussion
• Guest Lectures (optional)
• Term Paper (optional)
• Field Exposure (optional)




a. Quizzes
missed the quiz.

QUALITY ASSURANCE
79
Macroeconomic Perspective of Economic Development

Prerequisite: Nil
COURSE DESCRIPTION:
This module aims to review both the historical as well as conceptual underpinning related to fluctuations in
economic development across countries – with specific reference to low and middle-income countries. The
unit intends to enhance students learning about global diversity in economic progress and its subsequent
impact on human wellbeing. The unit helps in a better understanding of economic theory and other
disciples with reference to economic development. It analyzes economic problems and challenges of low
and middle income countries. This deals with a comparative reflection of performances of low or middle
income countries with those of high income countries. More so, this module deals with the interactions
between low incomes countries to those of high income countries.
Course Contents
1. Economic Development as the Progress of Ideas
2. Economic Development and Capitalism
3. Inequality and Growth

4. Sustainable Development: a macro perspective on micro behaviour
5. Economic Development and the Role of the State

6. Economic Development and the Role of Finance
7. Economic Development and Agrarian Transformation
8. Migration and Urbanisation
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Text and Books Reference:
Meir, G. M., and J. E. Rauch., eds. 2005. Leading issues in economic development. Oxford University
Press. Eighth edition.
Todaro, M. P. and Smith S.C. 2012. Economic Development. Pearson Addison Wesley.
Additional Readings
• Bardhan, P. (1993) “Economics of Development and the Development of Economics”, Journal of

Economic Perspectives, 7(2): 129-142
• Hirschman Rothchild - The changing tolerance for inequality - 1973
• Ostrom (2010) on collective governance of the environment
• Fritz, V. and Menocal, A. R. (2007) "Developmental states in the new millenium: concepts and
challenges for the new aid agenda"; Development Policy Review 25(5):531-552
• Khan, M. (1995) "State failure in weak states. A critique of New Instiutionalist Explanations"; in: J.
Harriss, J. Hunter, C. Lewis (eds) The New Institutional Economics and Thirld World Development,
Routledge
• Rodrik, D. (2003) Growth Strategies
• Chang, H.J (2009), Rethinking public policy in agriculture: lessons from history, distant and
recent. Journal of Peasant Studies 36:3, 4777-515
• World Development Report (2009) Chapter 5: Factor mobility and migration

• Davis, J. C., and Henderson, J. V. (2003) “Evidence on the political economy of the urbanization
process”, Journal of Urban Economics, 53: 98-125
• M&R: Part I [especially the Overview and Section I.C]
• M&R: Part II: Overview, Selection II.2; Note II.2, Selection II.4
• M&R: Part VIII: Overview, Selection VIII.A.1; Selection VIII.B.1, and VIII.C
• M&R part IX
• M&R, Overview, Selection V.1,V.2, V.5
• M&R Part VII, in particular: Overview, Selection VII.A.2,VII.A.3.VII.A.5,VII.B.1,VII.B.3, Note VII.A.2
• M&R, Overview, Selection VI.B.1, VI.B.2, Note VI.B.1, Selection VI.B.3, VI.B.4, IV.B.5
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• Lectures




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missed the quiz.

QUALITY ASSURANCE
82
HISTORY OF ECONOMIC THOUGHT
Course Code: Econ 603
Prerequisite: Nil
COURSE DESCRIPTION:
The course gives an overview of the history of Economic Thought. It touches the development of economic
theories and ideas from earliest times to the present. The emphasis is on `thought' rather than on `history'.
It provides a survey of economic thoughts from Adam Smith.
COURSE OBJECTIVES:
1. To give a historical consciousness of economic ideas

2. To give an overview of developments in economics
Upon Successful Completion, the Students Should be able to:

• Understand key models and concepts of the history of economic thought
• Understand scholarly articles concerned the history of economic thought
• Have a historical consciousness of economic ideas
COURSE CONTENTS:
1) Classical Economics
• Adam Smith; The framework of Classical Economics
• Thomas Robert Mathus; Elaborations and Cleavages within the Classical system
• John Stuart Mill; Postscript to Classical Economists
2) Marxian Economics
• Karl Marx and the Economics of Das Kapital; Post script to Marxian Economics
3) Neo-Classical Economics
• Alfred Marshall; Framework of Neo Classical Economics
• Pre 1914 variations to Neo-Classical Themes; Post script to Neo-Classical Economics
4) Keynesian Economics
• The Economics of Keyes general Theory
• Post Script to Keynesian Economics
5) Post Keynesian Economics
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• Lectures




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missed the quiz.

QUALITY ASSURANCE
84
•. William J. Barber, A History of Economic Thought, (latest edition), Wesleyan University Press,
Middletown.
•. Sandmo, A., Economics Evolving: A History of Economic Thought,(latest edition), Princeton
University Press,
• Medema, S. G., and Samuels, W. J., A History of Economic Thought: The LSE Lectures (1998),
Princeton University Press
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THEORIES OF ECONOMIC DEVELOPMENT


Prerequisite: Nil
COURSE DESCRIPTION:
This aim of this course is to provide students with an overview of key theoretical perspectives and debates
in development. The students will critically explore the assumptions, rationale and ethics of development in
thought and practice. This course elaborates how the term ‘development’ has evolved, used, and a critique
of its practices underpinning development as a set of economic, political, social and cultural objectives, in
particular the critique of a western lens by means of which the developing countries are subjected to follow
a western style development growth models.
Learning Outcomes
• Analyze and review key debates about development theory

• Analyze the implications of current development debates relating to major social, political and
economic transformations in developing countries.
• Critically evaluate the various meanings of development and analyze how these meanings are
irrevocably linked with culture and language.
• Relate theoretical perspectives and debates to practice and policy issues and dilemmas.
• Argue ways in which diverse theoretical perspectives lead to alternative and competing possibilities
for analysis and action
• Recognize the relationship between theories and practice where theory might explain ‘the why’,
with practice as offering ‘the how’
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Course Contents
1. Modernization Theories
2. Growth models
3. Structuralism
4. Dependency theory
5. Basic Needs
6. Neo-Classical
7. Structural Adjustment
8. Post-Development
9. Sustainable Development
10. Human Development
• Lectures
• Field Exposure (optional)




a. Quizzes
missed the quiz.
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QUALITY ASSURANCE
Text and Book References:

• Todaro M. P., Economic Development in the third World. Latest Edition, Heinemann, London.
• Meier Gerald M., Leading Issues in Economic Development, (Latest Issue),Oxford University Press.
• Thirlwall, A.P., (2003), Growth and Development, With Special Reference to Developing Economies 7th
edition, Palgrave Publisher.
• Van Den Berg H., (2001), Economic Growth and Development,* McGraw Hills.
• Rashid, Salim. Economic Policy for Growth: Economic Development is Human Development. (Kluwer
Academic Publishers, 2000)
• Balasubramanyam V. and Lall, S. (Latest eds.), Current Issues in Development Economics. McMillan ,
London.
• Cypher J. M. and Dietz James L., (2004), The Process of Economic Development, Routledge. Tayl or
Francis Group, London/New York.
• Ghatak Subarta, (2003), Introduction to Development Economics, Rout ledge, Taylor and Francis Group,
London/New York.
• Herrick B. and Kindleberger C., (latest eds.). Economic Development. McMillan, New York.
• Hirshman A. O., (1960). Strategy of Economic Development, Yale University, Press.
• Mahboob-ul-Haq Center for Human Development (MHCHD). Human Development in South Asia, Annual
Reports, Islamabad.
• Yotopolous Pan A. and Nugent Jeffery B., Economics of Development, Empirical Investigation (Latest
eds.). Harper and Row Publishers, London/New York.
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ECONOMETRICS
Course Code: Econ-502/552

Prerequisite: ECON 403: STATISTICS - II
COURSE DESCRIPTION
This course basically focuses on techniques for estimating linear regression models, problems commonly
encountered in estimating these models, and on interpreting the estimates of models. As estimation and
interpretation are marketable skills so this course will teach basics of econometric theory and practice to
inculcate skills for estimation of econometric models with actual data.
COURSE OBJECTIVES
This course is designed to develop basic understanding in students about econometrics and provide
working knowledge of its basic tools. After completion of this course, students
1. Can apply econometric tools for modeling, estimation, inference, and forecasting in the context of real-
world economic problems.
2. Be capable to apply appropriate estimation techniques under different types of data/model problems
3. Can evaluate critically the results and conclusions of other researchers.
4. Have a foundation and understanding for advanced level course in econometrics.

On successful completion of this course, students will be able to:
• Apply knowledge of regression technique for analyzing economic data.
• Interpret and Critical to evaluate the outcomes of empirical analysis
• Use elementary procedures for model validation in the single equation context.
COURSE CONTENTS
1: An Introduction to Econometrics
• Why Study Econometrics?
• Methodology of Econometrics
• Types of Econometrics
• Data types and its sources
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2. The Classical Linear Regression Model (CLRM)
• Simple Regression function
• Population regression function
• Linear regression function
• Linearity in variables and linearity in parameters
• Simple Regression Analysis
• Estimation of regression equation using OLS
• Statistical properties of OLS estimators (BLUE)
• Classical Linear Regression Model (CLRM) and its assumptions
• Estimation of the coefficient of determination
3. The Multiple Linear Regression Model (MLRM)

• Multiple Regression Analysis
• Difference between simple and multiple regression analysis
• OLS estimation of multiple regression equation
• Properties of OLS estimators
• Coefficient of determination (R2) and Adjusted R2
• Testing the significance of Regression coefficients (t-test)
• Testing the overall significance (F-test) of the model
• .
4. Regression with Qualitative Explanatory Variables
• Regression with Single Qualitative Explanatory Variable

• Regression with multiple Qualitative Explanatory Variables
• Regression with both Quantitative and Qualitative Explanatory Variables
• Other Uses of Qualitative Variables: Piecewise Linear Regression
• Estimation of Seasonal Effects
• Testing for Structural Change
5. Matrix Approach of the Classical Linear 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 Ordinary Least Squares (OLS) estimators
• Interpretation of the Beta coefficients (β1, β2,…., βk)
• Hypothesis testing using matrix approach
• OLS estimation: variance-covariance matrix of estimators
• Coefficient of determination
• R2 in matrix notations
• Correlation matrix
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6. Econometric Modeling: Model Specification:
• Model selection criteria

• Types of specification errors
• Consequences of model specification errors
• Tests of specification errors
• Errors of measurement
• Model selection criteria
• Endogeneity and nature of Endogeneity
• OLS estimation in presence of Endogeneity
• Detection of Endogeneity
• BLUE estimators in the presence of Endogeneity
• Consequences of Endogeneity in OLS estimation
• Remedial measures.
7. Deviation from the Classical Assumptions:

• Assumptions of the classical model and economic reality
• Relaxation of the assumptions and estimation issues
• Brief introduction to the nature of problems and alternatives.
(i) Multicollinearity
• Nature and severity of the problem
• OLS estimation of regression equation in the presence of perfect multicollinearity
• Causes of multicollinearity
• Distinction between perfect and partial multicollinearity
• Detection and remedial measures.
(ii) Heteroscedasticity
• The nature of the problem with reference to economic theory
• Cross-section data and the problem of non-constant variances
• Consequences for OLS estimators
• Detection and remedial measures
• Introduction to the Generalized Least-Squares model (GLS).
(iii) Autocorrelation
• Autocorrelation and its causes
• Time-series data and emergence of the problem with reference to economic theory
• Serial correlation
• Consequences of autocorrelation for OLS estimators
• Detection and remedial measures
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• Lectures




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missed the quiz.

QUALITY ASSURANCE
Texts and Reference Books
• Dougherty, C. Introduction to Econometrics, Oxford University Press.

• Gujarati, D. N. Basic Econometrics, McGraw-Hill Company.
• Hill, R.C., Griffiths, W.E. and C. Lim, G.C. Principles of Econometrics, John Wiley, New York.
• Stock H. J. and M. W. Watson. Introduction to Econometrics, Pearson Education.
• Wooldridge, J. M. Introductory Econometrics: A Modern Approach, South-Western College.
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91
ECONOMIC GROWTH
Course Code: Dev - 551

Prerequisite: Nil
COURSE DESCRIPTION:
This course explores theoretical developments in the analysis of economic growth and introduces current
debates on evidence and policy relevant to the growth performance of both developed and developing
economies.
COURSE OBJECTIVES
1. To introduce the theories of economic growth
2. To understand the issues and on-going debates on development economics.
3. To understand the mechanism of economic success and failures
COURSE LEARNING OTCOMES:

• UNDERSTAND the insight of economic growth process
• SOLVE and MANIPULATE a variety of simple models in economic growth
• IDENTIFY applications and limitations of the various growth models
COURSE OUTLINES:
1. Introduction
• The Growth Game
• The economics of Growth: Capital, Labor and Technology
• The Historical Record: Kuznets Characteristics of Modern Economic Growth
• The Limited Value of Historical Growth Experience: Differing Initial Conditions
2. Concepts and Methods of Growth Theory and Growth Accounting

• Introduction
• The Variables and Aggregation
• Saving and Investment
• Technology and the Economy
• Rates of Growth
• Steady Growth
• A Brief History of modern Growth Theory
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3.The Harrod-Domer Model of Economic Growth
• Intoduction
• The Harrod Model
• The First Harrod Problem
• The Harrod Stability Condition
• Domer’s Model of Growth
• Harrod and Domer: Some Comparisons
4. The Neoclassical/Solow-Swan Growth Model

• Introduction
• The Assumptions
• The Fundamental Equation of Neoclassical Economic Growth
• Fundamental Propositions of Neoclassical Economic Growth
5. Two Sector Models of Economic Growth

• Uzawa’s Two Sector Growth Model
• The Fel’dman Model of Growth
6. The Cambridge Critics

• The Capital Controversy
• The Kaldor Model
• The Pasitti Model
7. Optimal Growth, Dynamic Efficiency and Welfare

• The Golden Rule of Accumulation
• Optimal Growth: Concepts and Problems
• The Keynes-Ramsey Rule
8. Theory and Models of Endogenous Growth

• Human Capital Model
• Research and Development Model
• Lectures
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missed the quiz.

QUALITY ASSURANCE

• Jones, Hywel: An Introduction to Modern Theories of Economic Growth, Van Nostrand Reinhold (UK) Co.
Ltd. (Southampton)
• Romer, D. (2006): Advanced Macroeconomics, McGraw-Hill (Boston)
• Robert J. Barro and Xavier Sala-i-Martin: Economic Growth, The MIT Press Cambridge, Massachusetts
London, England.
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94
DEVELOPMENT POLICY
Course Code: Dev 552
Prerequisite: ECON 361: Development Economics
COURSE DESCRIPTION
This course will provide a review of development theories and empirical evidences on the major drivers of
economic development including growth, geography, institutional quality, resource abundance and culture.
The focus here is to spell out various policy options and to evaluate their effectiveness in dealing with the
developmental issues of developing countries.
COURSE OBJECTIVES
1. To explore and debate development issues and policies
2. To present an overview of the existing evidence in designing policies for developing countries
Upon Successful Completion, the students should be able to:

• Understand and critically assess the mainstream economic literature relating economic
development
• Assess and formulate development policies and develop critical thinking
• Demonstrate the empirical approaches to understand the process of development
COURSE CONTENTS
1. What is Development?
• Describing and analyzing the development landscape of developing countries
• Evolving thinking on development
• Endogenous and exogenous theories of growth, convergence
• Inclusive growth, human development
• Why some countries are rich and others poor?
• East Asian miracles and China
2. Growth and Development

• Millennium Development Goals (MDGs)
• Sustainable Development Goals (SDGs)
• Human Development paradigm for development: Beyond growth in income
• Pakistan’s progress, Dimensions of development, Development policy beyond MDGs
3. Development policy and Governance

• Role of Institutions in Development
• Governance and Corruption
• Globalisation and Changing Role of State
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4. Global Influences on Development Policy
• Policy debate on foreign aid, Pros and cons, and channels of foreign aid
• Trade and International Finance,
• World Trade Organisation (WTO)
5. Poverty and Inequality

• Defining and measuring poverty, inequality
• Policies to manage poverty
• Income distribution and social welfare
• Middle-income trap,
• Vulnerability, trickledown effect
• Employment and Income Distribution
• Social Entrepreneurship, Role of Microfinance in poverty alleviation
6. Education and Healthcare

• The role of primary, secondary, tertiary and vocational education in development
• Human Capital Accumulation and Human Development Index
7. Environment and Sustainable Development

• Food security
• Agricultural Market Interventions and Reforms
• Agricultural Research and Extension
• Water Scarcity and Management
• Mineral Resources and their Exploitations
8. Migration, Urbanization, Issues facing Megacities
• Lectures


96

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missed the quiz.

QUALITY ASSURANCE

• Zaidi, S. Akbar, (2015). Issues in Economy of Pakistan. Karachi: Oxford University Press
• Ahmed, Vaqar, (2017). Pakistan’s Agenda for Economic Reform. Oxford University Press
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97
Public Finance and Devolution

Prerequisite: Nil
COURSE DESCRIPTION:
The course aims to develop an understanding of the impact of government policies on resource allocation
and equitable distribution of income. Public economics helps to analyze and identify the effect of public
policy on various macroeconomic indicators. The course facilitates to develop the economic and social
intuition of government expenditures, Taxes and various social security benefits associated with public
financing. It helps the understanding of the effects of public policies and enables students to envisage the
consequences of these policies even before they are implemented.
Course Contents
1. Introduction to Public Finance
2. Public Expenditure Theory
3. Public Choice
4. Externalities
5. Cost Benefit Analysis
6. Income Redistribution
7. Taxation
8. Tax Incidence
9. Taxation and Economic Efficiency
10. Other issues with specific reference to Pakistan

Rosen, H. S. (2005). Public Finance, 7th Edition, New York, McGraw Hill.
Stiglitz, J. E. (2000). Economics of Public sector, 3rd Edition, New York, W. W. Norton & Company.
Kemal, A. R. (2001), Debt Accumulation, Debt servicing and Growth, PDR, Vol.40.
• Lectures
98




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missed the quiz.

QUALITY ASSURANCE
99
NATURAL RESOURCE ECONOMICS
Course Code: Econ - 453

Prerequisite: Nil
COURSE DESCRIPTION
This course explores the use of natural resources from an economic perspective. The course presents the
theories of efficient utilization of natural resources and discusses issues related to current practices of use
of natural resources. The course introduces students to the principles, reasoning, and techniques required
to solve allocation problems under different social objectives. This subject also discusses issues of
sustainability, conservation and preservation of natural resources.
COURSE OBJECTIVES
1. To understand economics and management of natural resources
2. To acquaint students with the various categories of natural resources and the economic theory
associated with their optimal use.

Upon successful completion, the Students Should be able to:
• Recognize and Explain the key categories of natural resources;
• Understand the optimal use/depletion of natural resources
COURSE CONTENTS
1. Introduction
• An introduction to natural resource economics
• Economy–environment interdependence
• Natural resource economics: overview
2. Reasons of Studying Natural Resource Economics

• Property rights, open access resources, tragedy of the commons
• Market failures, externalities and environmental problems
• Dynamic decisions and irreversible consequences
• Fundamental issues in the economic approach to natural resource economics
3. Imperfect Competition in Natural Resource Markets

• Review of basic concepts, perfect competition and imperfect competition
• Economic approach and Economic Efficiency
• Social decision making and socially efficient level
• Economic Methods: Strengths and Weaknesses
100
4. Natural Resources: Types, Classification and Scarcity
• Classifications of Natural Resources, renewable and nonrenewable
• Measuring resource scarcity
• Natural Resource use and conflicts
5. Fundamentals of Renewable Resources

• Open-access resources and steady-state harvests
• Socially efficient resource harvesting
• The dynamics of renewable resource harvesting
6. Economics of Non-Renewable Resources

• Resource taxonomy (current reserves, potential reserves, resource endowment)
• Price and size of reserves, theory of efficient extraction:
• Hoteling rule, mathematical and graphical explanations
7. Optimal Allocation of Scare Natural Resources

• The efficient and optimal use of natural resources
• Resource scarcity and economic growth
• The social welfare function and an optimal allocation of natural resources
• Economic efficiency, allocation of resources and equity
8. Economic Valuation and Evaluation

• Concepts and measurement of value for decision making
• Direct method of valuation and indirect method of valuation
• Contributions of nature and Non-market valuation methods
• Hedonic models
9. Sustainability, Conservation and Preservation

• The origins of the sustainability problem
• The pursuit of sustainable development
• Sustainability, Conservation, and Preservation
10. Population Growth and Natural Resources

• Impact of population growth on economic development
• Poverty, population and natural Resources
• Poverty, inequality and natural Resources
11. Input-Output Analysis, Technology and Environment

• Origin, derivation and usefulness of the model
12. Computable General Equilibrium Models and Natural Resources Accounting
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missed the quiz.

QUALITY ASSURANCE
• Tietenberg, T.H,and Lewis, L. (2012). Environmental and Natural Resource Economics, (9th
Edition), Pearson Addison Wesley.
• Perman,R., Yue M., Common M.,Maddison,D., and Mcgilvray, J. (2011).Natural Resource and
Environmental Economics, (4th Edition), Pearson Addison Wesley.
• Nick Hanley, N., Jason, F. S., and White, B. Environmental Economics in Theory and Practice,
(2nd edition), Palgrave Macmillan.
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102
RESEARCH METHODOLOGY
Prerequisite: ECON 452: STATISTICS-II
COURSE DESCRIPTION:
This course is designed to enable the students to understand the basics of research and its process
adopted in field of economics, which include the research fundamentals, research design, literature review,
data sciences, sampling, data analysis and thesis/ report writing
COURSE OBJECTIVES:
By the end of this course following Bloom’s Taxonomy the students shall be able:
1. To understand the research process followed in economics.
2. To apply research techniques for analysis of economic problems.
3. To familiarize the students to identify the researchable issues in the economy.
4. To equip the students with basic research techniques of data collection, analysis, writing and
presentation.
By studying this course the students shall be able to:
• Identify economic problems and analyze them by using scientific process of empirical inquiry in
economics discipline.
• Acquire understanding about conducting research in economics based on certain economic issue.
• Describe the research question; explore the strengths of various methods, and techniques to
address the stated problem.
• Apply different computational techniques to analyze the data.
COURSE CONTENTS:
103
1. Introduction
• Basic Concepts, Definitions, Terminologies
2. Research types and designs

• Research Types; Advantages and disadvantages of different research types
• Research designs; Advantages and disadvantages of different designs
3. Literature review
• Formats, Finding research journals, journals by ranking, themes etc.
• Review styles; Summary of each paper vs. review of many papers under one theme [thematic
review]
• Gap finding
4. Sampling
• Types of sampling
• Methods of sampling
• Determining the sample size
• Handling the issues
5. Data Sciences
• Data types: primary and secondary, Qualitative and Quantitative, Cross sectional, Time Series and
panel data
6. Data analysis
• Descriptive analysis, Regression, Data Visualization
7. Thesis /Report writings

• Elements of thesis / report; Abstract, Introduction, Review of Literature, Framework of Analysis,
Estimation, Results and discussion, and Conclusion.
• References; APA, AMA,MLA and other formats
• Plagiarism and its outcomes to researchers.
• Lectures
104



a. Quizzes
missed the quiz.

QUALITY ASSURANCE
• Kothari,C.R. Research Methodology: Methods and Techniques,New Delhi, Wiley Eastern Limited.
Latest Edition.
• Dawson, Catherine Practical Research Methods,New Delhi, UBS Publishers, Latest Edition.
• Kumar, Ranjit. Research Methodology: A Step by Guide for Beginners, Second Edition, Singapore,
Pearson Education. Latest Edition.
• Etheridge Don E. Research Methodology in Applied Economics: Organizing, planning and
Conducting Economic Research, 2nd Edition. Blackwell Publishing
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105
POVERTY AND INCOME DISTRIBUTION
Course Code: Dev601

Prerequisite: Nil
COURSE DESCRIPTION:
Poverty and income inequality has always been issues of concern for economists. Their empirical analysis
is of great significance. This course describes the technical issues related with the empirical analysis of
poverty and income inequality.
COURSE OBJECTIVES:
1. To explain the distributional aspects of national income
2. To familiarize students with the effects of poverty and income inequality
3. To understand the technical issues in the measurement of poverty and inequality

Upon successful completion, the Students Should be able to:
• Understand the importance of income distribution in economic growth

• Analyse and Interpret the poverty and inequality estimates
• Identify sources and causes of poverty and inequality
• Conduct independent research on poverty and inequality
COURSE CONTENTS:
1. Introduction:
• The concept of poverty, inequality & well-being
• Correlation between inequality & poverty
• Consequences of inequality & poverty
• Determinants / sources of poverty and inequality
2. Issues in the Measurement of Poverty & Inequality:

• Unit of well being
• Unit of measurement
• Sampling procedure
• Problems of grouped and survey data
• Issue of relative purchasing power
3. Empirical Analysis of Poverty:

• Defining and estimating poverty Lines
• Poverty measures
• Desirable qualities of good poverty measure
• Rigid and adjustable measures
106
• Sub group poverty analysis
• Welfare Interpretation of poverty measures
• Multidimensional Poverty (concept and measurement)
4. Empirical Analysis of Inequality

• Approaches to measure inequality
• Desirable qualities of good inequality measure
• Classification of inequality measures and details
• Decomposition of inequality
5. Empirical Analysis of Welfare

• Approaches to measure welfare
• Desirable qualities of good welfare measure
• Classification of welfare measures and details
• Decomposition of welfare
6. Issues in Poverty and Inequality:

• Migration, inequality and poverty
• Fiscal measures, inequality and poverty
• Economic development, Inequality and poverty
• Globalization, inequality and poverty
7. Poverty and Inequality in Pakistan:

• Time series Analysis of inequality, welfare and poverty
• International comparison
• Lectures


Midterm exam will cons`ist of applied questions, multiple choice and case studies / scenario analysis.
107

a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Cowell F.A. Measurement of Inequality, STICERD, London School of Economics and Political Science,
London (2000)
• Anand S. Inequality and Poverty in Malaysia, Measurement and Decomposition, A World bank
Research Publication, Oxford University Press. (1983)
• Kakwani, N. Income Inequality and Poverty: Methods of Estimation and Policy: Applications, A World
bank Research Publication, Oxford University Press. (1980)
• Balisacan, A. et al. (2014). Sustainable Economic Development, Resources, Environment, and
Institutions. 1st Edition, Academic Press
• Roger, P.P et al. (2008). An Introduction to Sustainable development. Earth Scan, Glen Education
Foundation, USA.
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108
Gender Studies and Development

Prerequisite: Nil
COURSE DESCRIPTION:
This course is designed to introduce students to the field of gender and development, and it aims to
increase the capacity of our students for rigorous gender analysis, making sense of gender as an important
social institution, and to promote awareness of its relevance in historic, economic, political, artistic, social,
and scientific contexts. A critical inquiry is welcomed from multiple and overlapping perspectives including
(but not limited to) various forms of feminist theory; a range of issues faced by women in Third World
nations, including: patriarchy, the political economy of underdevelopment, oppression, women’s survival
strategies, population issues, and women’s relationship with the environment and how gender manifest
itself in social, cultural, and political contexts. Gender Studies marks the rich terrain of intellectual inquiry
now encompassed by interdisciplinary field, which includes exploration of the histories and experiences of
diverse masculinities and femininities. Students will become acquainted with many of the critical questions
and concepts feminist thought has developed as tools for the study of gendered experiences. The course
would help the students in developing critical understanding of gender issues as well as prepare them to
act as agents of change.
Course Contents
1. Introduction to Gender Studies
2. Social Construction of Gender
3. Women and the Feminist Movements: A Global Perspective
4. Introduction to Feminist Theories
5. Gender Roles, Relations and development
6. Approaches to Gender and development
7. Women’s growing engagement and activism
8. Gender and Politics
9. Changing notions of development and new emerging theories
109
• Ahooja-Patel, Krishna. 2007. Development has a woman's face: insights from within the U. N.
World Societies in Transition. New Delhi: APH Publishing.
• Behram, Jere R. (1990). Human Resource Led Development? Review of Issues and Evidence.
Geneva: ILO.
• Boserup. E. 1970. Women in Economic Development. London:Allen& Unwin. Caroline Moser.1993.
Gender Planning and Development. London: Routledge.
• Chow,EstherNgan-ling. 2002. Transforming Gender and Development in East Asia. New York:
Routledge.
• Cornwall, Andrea .2007. Feminisms in Development. London: Zed Books. Harcourt, Wendy.1994.
Feminist Perspectives on Sustainable Development. London: ZED Books.
• Porter, Marilyn, and Ellen R. Judd. 1999. Feminists doing development: a practical critique.
London: Zed Books.
• Kapadia, Karin. 2002. The Violence of Development. London: Zed Books. Kate Young.1987. Of
Marriage and Market. CSE Books.
• Mies, Maria.1985. Patriarchy and Accumulation on the World Scale, London: Zed Books.
• MohibulHaq, Sahibzada. 1997. Poverty Alleviation in Pakistan: Present Scenario and Future
Strategy. Islamabad: Institute of Policy Studies.
• Moghadam, Valentine M. 2003. Modernizing women: gender and social change in the Middle East:
Women and Change in the Developing World Series. Colorado: Lynne Rienner Publishers.
• Momsen, Janet Henshall. 1991. Women and development in the Third World. London: Routledge.
• Naila Kabeer.1994. Reversed Realities. New Delhi: Verso Books.
• Narasaiah, M. Lakshmi. 2006. Women and Development. New Delhi: Discovery Publishing House.
Nussbaum, Martha C. 2000. Women & Human Development: The Capabilities Approach.
Cambridge: Cambridge University Press.
• Ostergaard, Lisa.1992. Gender and Development, A Practical Guide. London:Routledge. .
• Visvanathan, Nalini. 2005. Women, Gender and Development Reader. New Delhi:Zubaan
• Lectures

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QUALITY ASSURANCE
111
POLITICAL ECONOMY
Course Code: Dev 603

Prerequisite: NIL
COURSE DESCRIPTION
This course is expected to provide an overview of political dimensions of an economy. The course will
develop basic understanding of the relationship between politics and economy. This course will help to
differentiate between political efficiencies and inefficiencies.
COURSE OBJECTIVES
This course is aimed to meet the following objectives:

1. Definition(s) and basic concepts of political economy
2. To summarise the evolution of political economy
3. Economic and Political Interests in shaping the economic behaviours
4. Explain the political economy from an individual and societal point of view

Upon successful completion of the course, the students will be able to:
• ACQUIRE the fundamental notions of political economy
• SOLVE human responses to incentives based on cost-benefit analysis versus norm-based behaviour
imbedded in their respective culture
• EVALUATE politically efficient and inefficient decisions
• DEMONSTRATE the ability to differentiate efficient and inefficient institutions from the perspective of
political economy
COURSE OUTLINE
1. Introduction
• Meanings, Definitions and brief Introduction of basic Concepts of Political Economy
• Economic and Political Integration. Policy Reforms and Popular Organizations, key Social and
Economic indicators, Political and Economic Institutions and their role in decision-makings
• Linkages of Politics and Economics, Conceptualizing the Changing Global Order.
• Political Economy and the World Order
112
• Problem of Power and Knowledge: New Millennium, Knowledge, Politics and Neo-Liberal Political
Economy
• New Voices in the Globalization Debate: Green Perspective, Regional Phenomena and State
Order, New State Actors, Theory of Economic and Political Exclusion
2. Regional Dynamics
• Regionalism and Globalization, The Political Economy of European Integration: European
Union and Brexit
• Regionalism in the Asia-Pacific Political Globalization and the Competition State. Economic
Blocks and Political Blocks: ASEAN, Shanghai Cooperation Organisation; SARC, GCC, OPEC
etc.
3. Political Economy of Economic Development

• International Politics and Transfer of Technology, Sector-Specific Development Limitation.
• Agriculture and Industry, Political Slogans and their Implementation, International challenge of
poverty,
• The Political Economy of food grain prices, Rural Development. Regional Exporting Blocks and
their Markets.
• Political Economy of Foreign Aid, Foreign Private Investments and Foreign Trades
4. Political Economy of Pakistan

• The Economics of Patronage and Elite Capture of the Resources
• The Political Economy of Land Reforms, Nationalization and Privatization
• The Elitist Economic Model. Strategies for self-preservation.
• Civil-Military Relationships
• Different Political Regimes and Economic Growth and Development Strategies
• Centre, Provincial and Local Government Relationships
• The Political Economy of Resource Distributions: NFC Awards, PFC Awards
• Lectures


113

a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Khan, M and Jomo K.S. eds. Rents, Rent-Seeking and Economic
Development. Cambridge: Cambridge University Press, 2000. Introduction, Chapters 1 &
2.
• North, D., Institutions, Institutional Change and Economic Performance, Cambridge:

Cambridge University Press, 1990
• Azhar, H. Nadeem(2012).Pakistan: The Political Economy of Lawlessness. Karachi: Oxford
University Press.
• Ahmed, Vaqar (2017).Pakistan’s Agenda for Economic Reform. Karachi: Oxford University Press.
• Gupta, S. Dev (1997).The Political Economy of Globalization: Kluwer Academic Publishers.
• Hagen Everett E., (1980) The Economics of Development, Richard D. Irwin, Inc.
• KardarShahid (1987) The Political Economy of Pakistan. Lahore: Progressive Publishers, Pakistan.
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114
INSTITUTIONAL ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION
Today, mainstream economics is investigating which economic factors and human behavior determine
economic growth. Alongside these factors, other factors—historical, cultural etc.—also influence choices
and behavior—such factors are called institutional factors. This course investigates how “institutions”—
broadly construed—determine various social, political and economic outcomes. The course will cover both
Original Institutional Economics (OIE) as well as New Institutional Economics (NIE) literature, thereby
looking at both formal and informal institutions, causes and possibilities of institutional change as well as on
institutional effects on economic growth.
This course discusses the significance of the economics of institutions and in understanding the
performance of institutions in developing countries, with a particular focus on the complex political economy
analysis. The course builds up on emerging growing interest and literature on governance, the evolution of
institutions, and the role of formal and informal institutions in shaping the performance of political and
economic systems. More so, the course discusses the role of corruption and rent-seeking, the political and
economic transitions, and the institutions appropriate to that transition, the role of the state, the role of
democracy and of authoritarianism in economic transitions. The course helps students to deal with both the
‘new institutional’ approaches to these questions and the mainstream policy agenda, as well as introducing
students to alternative approaches based on a comparative historical analysis and the policy implications of
these ‘political economy’ approaches to the capitalist transition.
COURSE OBJECTIVES
The course has three basic aims;

1. To familiarize students with basic instruments of microeconomic choice theory
2. To widen perspective of students pertaining to formal and informal constraints that determine
behavior.
3. To explain relationship between institutions and economic growth.

• ACQUIRE basic instruments of microeconomic choice theory.

• UNDERSTAND the formal and informal constraints that determine behavior.
• SOLVE the institutional issues through application of modern microeconomic theory through informed
understanding.
• EVALUATE and explain relationship between institutional characteristics and economic growth.
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• DEMONSTRATE critical analysis of formal and informal institutions, causes and possibilities of institutional
change and institutional effects to economic growth.
COURSE OUTLINE
1. Introduction to institutional economics.
• Historical overview of the original (Veblen, Commons, Foster) and new institutionalists (Coase,
North).
2. Formal Institutions
• Institutional constraints in the economy. Legal system as an institution. Property rights,
enforcement of the contracts and laws is also under surveillance. Impact of common and civil law
to the behavior of markets and economic development.
• Political regulation and other forms of market intervention throughinstitutional theory. The key
words of this lecture are regulation, control and politics. Central Bank and Fiscal authorities and
their impact on economic growth.
3. Informal Institutions
• Introduction to historical and cultural overview of religious development. Religion as an informal
constraint. Max Weber idea of Protestant ethic as a source and basis of today's Western world
order.
• Introduction of issues related to inequality: social classes and their impact to economic growth,
discrimination and the economic consequences. idea of welfare state and issues related to
gender and gender segregation.
4. International Institutions:
• How international institutions like EU, WTO and NATO will affect the institutional framework of
nation states. What are the economic consequences of membership and non-membership?
5. Institutional Change
• Development of informal institutions and their change is path dependent and incremental. But
what about the change of formal institutions? Who are interested bodies of changing formal
institutions? Of course, we have "good" examples of revolutions, reforms, wars and
transformation, but how they influence the development path of institutions?
6. Rent Seeking and Rent Avoidance.
• Who changes formal institutions? Under democratic system the interest of majority does? Is this
really so and how pressure groups emerge? What is the difference of rent seeking and profit
seeking? What is the Social Cost of Rent seeking?
8. Coase versus Pigou
• What to do in the cases or market failures? Is "the traditional" state intervention through
Pigouvian taxes and subsidies optimal choice for markets? We are introducing Coase criticism of
Pigouvian assumptions and Coase theorem.
116
9. New Political Economy
• We go further from Coase criticism to Pigou and develop critical view over welfare economics.
Introducing also rational politicians and the public sector failure, theories provided by Tullock and
Buchanan.
• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE
117
1. Veblen, T. B.(1904). The theory of business enterprise. New York, NY: C. Scribner’s Sons.
2. Olson, M. (1982).The Rise and decline of nations, New Haven, CT: Yale University Press.
3. North, D. C. (1991).Institutions, institutional change and economic performance. Cambridge/New York:
Cambridge University Press.
4. Stigler, G. (1997).Chicago studies in political economy. Chicago, Il: The University of Chicago
Press.
5. Krugman, P. (1998).Pop Internationalism. Cambridge, MA: MIT Press.
6. Acemoglu, D.,& Robinson, J. (2012). Why nations fail: The origins of power, prosperity and poverty. New
York: Crown.
7. Tauheed, L. (2013). A critical institutionalist reconciliation of contradictory institutionalist institutions: What is
an institution? Journal of Economic Issues, 47(1), 1–21.
8. Afzal, A. (2017). Revisiting the Glorious Revolution: Property Rights, Economic Institutions and the
Developing World. International Journal for Pluralism and Economics Education. 8(4), 378–388.
9. Khan, M and Jomo K.S. eds. Rents, Rent-Seeking and Economic Development. Cambridge:
Cambridge University Press, 2000. Introduction, Chapters 1 & 2
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URBAN DEVELOPMENT

Prerequisite: Nil
COURSE DESCRIPTION:
This course is an introduction to urban economics. The focus will be on the main economic forces that lead
to the existence of cities and regional clusters. It covers a variety of topics including urbanization, housing,
pollution, urban poverty and crime.
COURSE OBJECTIVES:
The basic objectives of this course are:
1. To analyze the economic forces that lead to the existence of cities and regional clusters,
2. To study the factors of local selection for firms and workers,
3. To study the economics of urban problems such as crime, poverty and insufficient housing,

Upon successful completion, the students should be able to:
• UNDERSTAND the mechanism of the emergence of cities and regional clusters
• IDENTIFY the root cause of regional disparities
• KNOWLEDGE on role of local government in provision of public goods
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COURSE CONTENTS:
1. Introduction
• Emergence and existence of cities
• Clustering of firms and workers
• Expansion and growth of cities
2. Land Rent and Land Use Patterns

• Urban land rent
• Land use patterns
• Neighbourhood choice
3. Urban Size and Growth
• Population growth
• Life expectancy rate
• Mortality rate
4. Policy Topics
• Education and crime
• Transportation
• Housing
• Local Government
▪ The role of local government
▪ Local government revenue
• Lectures



119
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missed the quiz.

QUALITY ASSURANCE

1. Aurthor O’Sullivan, Urban Economics, (latest edition), McGraw Hill Education.
2. John F. McDonald , Fundamentals of Urban Economics (latest edition), Prentice Hall
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120
Rural Development

Prerequisite: Nil
COURSE DESCRIPTION:
This course aims to equip students with an understanding of a variety of rural theories and frameworks.
The many topics covered in this course traces the contemporary processes of rural development and the
many forces that shape rural economy and activities. This includes engaging students in discussions
around the main trends of economic, social, political, environmental, political, environmental, mobility,
vulnerability and sustainability, local governance and government policies - that over the last century have
shaped the development of rural areas in the global south. Moreover, the course demonstrates an in-depth
knowledge, which is ethnographically informed, towards the understanding of the several important facets
experienced by the rural poor in everyday life. This involves analyzing the politics surrounding the technical
interventions which are directed to improve the lives of the urban poor.
Course Contents
1. Economic issues of rural development
2. Social and political issues of American rural development
3. Environmental issues of rural development
4. Rural development and the role of planners
5. Mobility, Vulnerability, and Sustainibility
1. Daniels, Thomas, J.W. Keller, and M.B. Lapping 1995. The Small Town Planning Handbook. APA
Press, Chicago, Illinois.
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QUALITY ASSURANCE
122
Conflict, Security and Development

Prerequisite: Nil
COURSE DESCRIPTION:
This course brings together concepts which contribute to the growing recognition of the relationships
between the economic processes of development, and the underlying causes and characteristics of
conflict, and insecurity. The course is concerned with conceptual issues such as the politics of natural
resources, economic theories of conflict, framing theories, peacebuilding, post conflict reconstruction,
inequality, vulnerability, the role of NGO’s and media, and contextualizing the political economy of war and
peace at micro and macro levels i.e. local, national and international, including empirical studies from
around the conflict zones.
Course Content:
1. Global governance, conflict security and development
2. Economic theories of violent conflict
3. The politics of ethnic conflict
4. The regional dimensions of civil war
5. Human security and Liberal Peacebuilding
6. Aid and conditionality
7. Humanitarian and military interventions
8. Conflict resolution and peace settlements
9. Global Civil Society and Transnational Social Movements
10. Framing under-development: representations of development, humanitarianism and conflict
• KALDOR, MARY (1999), New and Old Wars: Organized Violence in a Global Era. Cambridge: Polity Press. Chapters 1
& 4. Library classmark 355.01 KAL (and via ebook).
• KEEN, D. (2000) ‘War and Peace: What’s the Difference’, International Peacekeeping, 7 (4), 1-22.
• COLLIER, PAUL AND ANKE HOEFFLER (2004). ‘Greed and grievance in civil war.’ Oxford Economic Papers 56(4):
563-595.
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• KEEN, DAVID (2012). ‘Greed and grievance in civil war.’ International Affairs 88(4): 757-777
• MKANDAWIRE, THANDIKA (2002). "The terrible toll of post-colonial ‘rebel movements’ in Africa: towards an
explanation of the violence against the peasantry." The Journal of Modern African Studies 40(2): 181-215.
• BROWN, GRAHAM K. AND ARNIM LANGER (2010). ‘Conceptualizing and measuring ethnicity’, Oxford Development
Studies 38(4): 411-436. [provides a useful overview of some of the ontological debates on ethnicity and highlights
problems with measurement]
• HALE, HENRY (2004). ‘Explaining ethnicity.’ Comparative Political Studies 449: 458-485.
• ENLOE, C. (1989) ‘Gender Makes the World Go Round,’ Bananas, Beaches and Bases: Making Feminist Sense of
International Politics,Berkeley and Los Angeles: University of California, Press: 1-18. [scanned copy available here]
• CHARLESWORTH, H. (2008). Are Women Peaceful? Reflections on the Role of Women in Peace-Building. Feminist
Legal Studies, 16(3), 347–361. https://doi.org/10.1007/s10691-008-9101-6
• ROSS, M. L. (2004), ‘What Do We Know About Natural Resources and Civil War?’ Journal of Peace Research 41(3):
337–356.
• WATTS, M. (2004). ‘Resource curse? Governmentality, oil and power in the Niger Delta, Nigeria, Geopolitics, 9, 1:
pp.50-79.
• Global Witness 1999, ‘A crude awakening the role of the oil and banking industries in Angola's Civil War and the
plunder of state Assets’.
• ALKIRE, SABINA (2003). ‘A conceptual framework for Human Security’, CRISE Working Paper 2. Oxford: Centre for
Research on Inequality, Human Security, and Ethnicity, University of Oxford.
• PARIS, R., 2010, ‘Saving Liberal Peacebuilding’, Review of International Studies, 36, 337-365 (for a critique of Paris'
article see Cooper et al (2011) 'The end of history and the last liberal peacebuilder: a reply to Roland Paris', Review of
International Studies, Vol 37, No. 4., pp. 1995-2007).
• LUTTWAK, E. N., 1999, ‘Give war a chance’, Foreign Affairs, Vol. 78, No. 4, pp. 36-44. [see also Luttwak’s application
of this thesis to the case of Syria (2013))
• NATHAN, LAURIE and TOFT, MONICA (2011) ‘Correspondence: Civil War Settlement and the Prospects for Peace’,
International Security, 36 (1).
• Fast, L. (2010) ‘Mind the gap: Documenting and explaining violence against aid workers’, European Journal of
International Relations, 16 (3), 365-389.
• Collinson, S. and Duffield, M. (2013) ‘Paradoxes of Presence: Risk Management and aid culture in challenging
environments’, HPG, March 2013.
• AUTESSERRE, Severine (2012) ‘Dangerous Tales: Dominant Narratives on the Congo and their unintended
consequences’, African Affairs,
• HUGHES, C. and PUPAVAC, V. (2005) ‘Framing Post-Conflict Societies: International Pathologisation of Cambodia
and the Post-Yugoslav States.‟ Third World Quarterly, Vol. 26 (6), pp. 873-889.
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QUALITY ASSURANCE
International Finance and Development

Prerequisite: Nil
COURSE DESCRIPTION:
This course develops the students understanding of the main sources of financing and the ways in which
these sources may optimally contribute to the development process. The course outlines the structure of
international capital flows, as well as the domestic sources of financing. By the completion of this course
the students would develop an understanding to analyze the impact of national and international policy
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measures on these capital flows, and the ability to overcome ‘market failures’ at global, national and local
levels economy.
Course Contents:
This module is split into four main parts. These are:
(i) The global financial system and proposals for its reform in a context of chronic vulnerability to crisis;
(ii) The finance of the domestic private sector in developing and ‘emerging’ countries;
(iii) The finance of the domestic public sector in developing and transitional countries;
(iv) Effectiveness of International Finance.
• William Milberg and Deborah Winkler, Outsourcing Economics: Global Value Chains in Capitalist
Development. Cambridge University Press. 2013.
• Barry Eichengreen, Globalizing Capital Oxford University Press, 2011.
• Charles Kindelberger and Robert Aliber, 2005. Manias, Panics and Crashes, John Wiley, Inc.
• Martin Wolfson and Gerald Epstein, Eds. The Political Economy of Financial Crises. Oxford
University Press. 2013.
• B. Eichengreen, Towards a new international financial architecture: a practical post-Asia agenda,
Washington DC: Institute for International Economics, 1999.
• Complete issue of Journal of Economic Perspectives for fall (autumn) 1999, essays by Mishkin,
Rogoff, Caprio, Edwards
• Issue of IMF World Economic Outlook on crisis forecasting.
• A.B. Atkinson(ed) New sources of development finance, Oxford University Press, 2005.
• G. Ranis, J. Vreeland and S. Kosack(eds) (2005) Globalisation and the national state: the impact of
the IMF and World Bank, London: Routledge.
• S. Spratt, Development Finance, Routledge, 2009.
• Most issues of Princeton Papers in International Finance and IMF Staff Papers
• Lectures

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missed the quiz.

QUALITY ASSURANCE
127
Civil Society and Development

Prerequisite: Nil
COURSE DESCRIPTION:
The course builds up on emerging growing interest and literature on the role of civil society in development.
This course examines current debates relating to NGOs' role in global politics, humanitarian interventions
and peacebuilding and the future roles of NGOs. More so, this course critically assess NGOs' relationships
with a range of other actors including broader civil society, donors and state actors and to explore how
these relationships influence NGOs' work. The course will also introduce students to a critical examination
of a range of theoretical approaches to the study of development NGOs.
Learning Outcomes:
By the end of the unit students should have a critical understanding of:
1. Evolving debates on NGOs and development.
2. The diverse roles played by contemporary development NGOs.
3. The different types of NGOs engaged in contemporary development interventions and their relationships
with a range of domestic and international actors.
Course contents
1. NGOs and development: overview and historical perspective
2. Approaches to the study of NGOs
3. NGOs, civil society and the state
4. NGOs and the aid chain
5. Faith-based and non-traditional NGOs
6. NGOs and humanitarianism
7. NGOs, politics and human rights
8. NGOs, advocacy and global civil society
9. NGOs, conflict and peacebuilding
• Lectures
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missed the quiz.

QUALITY ASSURANCE
129
Other optional courses
ENVIRONMENTAL ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION
Environmental economics is a course in applied welfare economics and considers the efficient and equitable use of
society's scarce environmental resources. The course explains the interdependencies between the environment and
the economy. The course focuses on market failure particularly externalities and common property resources and
studies the economic valuation of environmental amenities such as clean air and ecological systems. It also
discusses issues of sustainability, conservation and preservation of natural resources.
COURSE OBJECTIVES
1. To demonstrate how environmental problems such as global warming, ozone depletion, air and water
pollution are threats to global economy.
2. To understand how environmental problems can be approached and analyzed using economic theory.

• EXPLAIN how economics can be used to address important environmental problems.
• DEMONSTRATE how the economy and environment are related
• EXAMINE techniques for quantifying the benefits and costs of improving environmental quality
COURSE CONTENTS
1. Introduction
• An introduction to environmental economics
• Economy–environment interdependence
• Main environmental problems
• Environmental economics: An overview
2. Reasons of Studying Environmental Economics
• Market failures, externalities
• Imperfect competition
• Dynamic decisions and irreversible consequences
• Public vs. private goods
• Property rights and open access resources
3. Economic Efficiency and Social Efficiency
• Review of basic concepts
• Economic approach and economic efficiency
• Social decision making and socially efficient level
4. Externalities
• Private costs and benefits
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• Social costs and benefits
• External costs and benefits
• Partial welfare analysis of external effects
• Benefits and costs of environmental resources
• Regulation of external effects
5. Environmental Pollution and Control Mechanisms
• Pollution control: targets

• Pollution flows and stocks
• Privately and socially efficient level of pollution
• Pollution control: Instruments
6. Command and control instruments
• Economic (market based) instruments

• Institutional instruments
• Instruments: taxes, subsidies, tradable permits
• Pigouvian taxation
7. Criteria for evaluating environmental policies
• Cost efficiency and cost effectiveness

8. Economic Valuation
• Concepts and measurement of value for decision making
• Direct method of valuation and indirect method of valuation
• Contributions of non-market valuation methods
• Hedonic models
9. Sustainability and Development
• Limits to growth
• The origins of the sustainability problem
• The pursuit of sustainable development
10. Population Growth and Natural Resources
• Impact of population growth on economic development
• Poverty, population and natural Resources
• Poverty, inequality and natural Resources
11. Input-Output Analysis, Technology and Environment
• Origin, derivation and usefulness of the model
12. Global Environmental Problems
• Global environmental problems
• Role of international environmental treaties in control of global pollution
• Lectures
131



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Nick Hanley, Jason F. Shogren and Ben White. Environmental Economics in Theory and Practice, (2nd
edition), Palgrave Macmillan.
• Perman,R., Yue M., CommonM.,Maddison, D., and Mcgilvray, J. (2011). Natural Resource and
Environmental Economics, (4th Edition), Pearson Addison Wesley.
• Field, B. and Field, M. (2002). Environmental Economics: An Introduction, Boston, McGraw Hill.
• Tietenberg, T.H., andLewis, L. (2012). Environmental and Natural Resource Economics, (9th Edition),
Pearson Addison Wesley.
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132
WORLD ECONOMIC HISTORY

Prerequisite: ECON 231: ISSUES IN WORLD ECONOMY
COURSE DESCRIPTION
This course foundation is based on chronological order of historical events which have shaped the modern economic
system. Starting with historical survey of early foundations of modern economic system through the colonial
expansion starting with the navigation revolution. The course intends to build students’ knowledge on historical
events which provided impetus to the rise of imperialism and the colonial expansion into North America, Latin
America, Asia and Africa. While emphasis is placed on social, political and economic developments within the
European nations which prompted colonial expansion, the primary focus is on how the actual colonies were acquired
and the subsequent changes that took place.
The course attempts to provide an essential background to understanding the historical processes by which modern
developed nations became developed, and how the underdeveloped “Third World” originated as part of the same
historical process.
COURSE OBJECTIVES
• Students will become familiar with historical events in economic history which have shaped today’s modern
economic system
• Student will learn about the economic system leaping forward from Agriculture economy to industrial economic
system through industrial revolution taking place in England
• Students will develop an understanding regarding colonial system and sub-continent trade and developments
under colonial power
• Students will learn the causes of the Great Depression and about the birth of modern macroeconomics and how
world economies managed to come out of the crisis
• Students learn about the production system during First and the Second World War and reconstruction through
new economic order with creation of World Bank and IMF.

• ACQUIRE the basic background knowledge of world economic system evaluation

• UNDERSTAND the colonial economic systems exploitative methods
• SOLVE the complex analysis to understand the future dimensions of economic realities
• EVALUATE the future role of their nation to improve participation in global economic system
• DEMONSTRATE ability to lead the economic system to prevent any future economic crisis if any may
happen in future
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COURSE OUTLINE
1. European Navigation and the discovery of the Americas, Asia and Africato the rise of Industrial capitalist
system (1492-1770).
2. Origins of the Slave Trade and the Industrial Revolution in England.
3. European trade in the Sub-Continent with special focus on the existing provinces of Pakistan (English and
Portuguese trade with Sindh coast.)
4. Colonial expansion in the Sub-Continent and Asia Minor. The East India Company and the Bengal Famine
(1770).
5. Rise of labor unions. The coal minors industrial action in America and England. Hay Market and May day
(1886)in the United states of America.
6. The Meiji Revolution in Japan (1868-1912).
7. Monopoly Capitalism and colonial expansion leading to the First World War and the Second World War.
8. The Russian political and economic Developments, emergence of Socialism as major economic system in
the world.
9. The Great Depression in USA (1929-30).
10. The South East Asia rising as modern Economic Systems. The Financial Crisis 2007-2008. Chinese Rapid
growth and expansion. Globalization and its discontents.
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134
QUALITY ASSURANCE

• Stiglitz, J. (2002). Globalization and its Discontents. New York, NY: W.W. Norton.
• Stiglitz, J. (2006). Making Globalization Work. New York, NY: W.W. Norton.
• Stiglitz, J. (2010). Free Fall. New York, NY: W.W. Norton.
• Stavrianos, L. S. (1981). Global Rift. New York, NY: William Morrow and Co.
• Beckert, S. (2014). Empire of Cotton. New York, NY: Knopf.
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TRANSPORT ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION:
This module provides a critical awareness of how economics can be used to overcome current problems in the transport
sector, such as congestion, inadequate service (in terms of both quantity and quality) and high prices. It will give you a
systematic and comprehensive understanding of the key concepts in transport economics and the graphical and
numerical analytical techniques used by transport economists.
COURSE OBJECTIVES:
• To provide a critical awareness of the principles of transport economics and how these principles are applied in
practice in transport policy.
• To enhance the ability to analyze service levels to users, operating costs based on environmental and social
aspects.
• To make a conclusion based on theories and practices, and selecting the best solution regarding transportation.
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• EVALUATE the economic impacts of transport schemes using cost benefit analysis and alternative methods
• ASSESS issues relating to transport funding, road pricing and the pricing of public transport.
• PREPARE and PRESENT a critique of the key economic issues in transport policy.
• IDENTIFY the key issues in transport economics and economic appraisal.
COURSE CONTENTS:
1. Introduction to transport economics
2. Mathematics for transport economists
3. Demand for transport: Theory and Practice
4. Supply of Transport: Theory and Practice
5. Pricing of Transport: Theory and Practice
6. Transport Appraisal and Evaluation: Theory
7. Cost benefit analysis and transport investment in developed countries
8. Cost benefit analysis and transport investment in developing countries
9. Road user charging and public transport pricing
10. Transport and the location of economic activity
11. Transport and the level of economic activity
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missed the quiz.

QUALITY ASSURANCE

1. Mallard, G. and Glaister, S (2008). Transport Economics. Theory, Application and Policy.
2. Cowie, J. (2010). The Economics of Transport: A theoretical and applied perspective.
3. Nash, C. (Ed) (2015). Handbook of Research Methods and Applications in Transport Economics and Policy.
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137
LABOUR ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION
This course is aiming to provide an exposure of the functioning of labour market. This course is expected to impart
the skills essentially needed to understand the topics like labour demand and supply, wage determination, labor
migration, unemployment, and the role of labor unions.
COURSE OBJECTIVES:
1. To understand the dynamics of labour market.
2. To understand the employment decisions initiated by the firm.
3. To understant the mechanism of wage determination.
4. To analyze the causes of unemployment for potential policy interventions.

Upon Successful Completion, the studentmust be able to:
• UNDERSTAND that how firms make decisions about their need for workers, how workers make
labour supply decisions and how wages and other benefits are determined
• IDENTIFY role of migration and labour unions
• Acquire KNOWLEDGE of relevant public policies, such as minimum wage.
COURSE CONTENTS
1. Introduction
• Introduction of the labour market
• Important actors of the labour market
• Importance of the understanding of the labour market.
2. Labour Supply
• Defining and measuring the labour force
• Factors behind labour supply
• Understanding the worker’s preferences
• Derivation of labour supply curve
• Measuring the elasticity of labour supply
3. Labour Demand
• The production function
• Employment decisions by the firm and factors related to these decisions
• Cost adjustment and labour demand
• The effect of minimum wage on labour demand
4. Labour Market Equilibrium
• Labour market equilibrium in a competitive environment
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• Competitive equilibrium across labour markets
• Economic impact of labour force migration
• The cobweb model in labour market
• Non-competitive labour markets
5. Compensating Wage Differentials
• The Market for risky jobs
• Hedonic wage estimation
• Safety and health regulations
• Compensating wage differentials
• Health insurance and labor market
6. Human Capital
• Education and labour market
• Present value of education
• The schooling model
• Education and earning
• On-job trainings
7. The Wage Structure
• The earnings distribution
• Explanation of wage inequality
• Family migration
• The job match
• Job turnover and retention policies
8. Labour Market Discrimination
• Race and gender based discrimination in labor market
• Estimation of the coefficient for discrimination
• Employer discrimination
• Employee discrimination
• Discrimination among other groups
9. Labour Unions and Collective Bargaining
• Labour union: background and facts
• Determinants of union membership
• Unions and monopoly
• Efficient bargaining
• Strikes
• Wage and non-wage effects of union
10. Unemployment
• Types of unemployment
• Mismatching and unemployment
• Unemployment compensation
• Intervention in labour markets and unemployment
• Lectures
139



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Borjas, George J. (2008). Labor Economics. McGraw-Hill/Irwin.
• McConnell et al. Contemporary Labor Economics, (latest edition), McGraw-Hill/Irwin.
• R. Ehrenberg and R. Smith. Modern Labor Economics, (latest edition), Addison Wesley.
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140
POPULATION ECONOMICS
Course Code: Econ- 483

Prerequisite: Nil
COURSE DESCRIPTION:
This course familiarize the students with the basic concepts of demography. The course aims to establish
initial understanding of the important demographic issues for instance, demographic processes,
demographics theories, population characteristics, methods of demographic analysis, and the demographic
transitions. In the latter part of the course the focus will be on the issues such as urbanization, family
change, population aging, and health related issues.
COURSE OBJECTIVES:
1. To provide the initial exposure of the important demographic issues.
2. To enable the students to establish the linkages between economic and demographic factors.

• UNDERSTAND the importance of demography
• IDENTIFY the factors related to population policies
• Acquire KNOWLEDGE of the population dynamics of Pakistan.
COURSE CONTENTS:
1. Introduction
• Understanding Demography
• Importance of Demography
• Sources of Demographic Data
• Processes of Demography
2. Theories of Population
• Mercantilist Perspective
• Malthusian Theory of Population
• The Marxist Perspective
• John Stuart Mill
• Lujo Brentano’s Theory
• Emile Durkheim’s Perspective
• The Theory of Demographic Transition
• Theory of Relative Income
3. Fertility
• Understanding the Concept
• Measuring Fertility
• Period Measures of Fertility
• Cohort Measures of Fertility
• Fertility Trends
• Fertility & Population Growth in Pakistan
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4. Mortality
• Components of Mortality
• Measuring Mortality
• Differentials in Mortality
• Estimates of Mortality in Pakistan
5. Migration
• Definition & Measurement
• Causes of Migration
• Internal Vs International Migration
• Individual & Social Consequences of Migration
• Migration Trends in Pakistan: Causes & Consequences
6. Population Composition: Age & Sex Composition
• Measuring the Age Composition
• Measuring the Sex Composition
• Impact of Population Processes on the Age Composition
• Impact of Age Composition on Population Processes
• The Dynamics of Age/Sex Compositions; Age-Stratification Theory
7. Population Growth & Ageing
• Demographic Composition of the Elderly
• Dynamic Scenarios, Biological & Social Aspects of Aging
• Implications for the Society
8. Urbanization
• Demographic Components of Urbanization
• Internal Rural-to-Urban Migration
• Impact of Population Processes and Urbanization in Pakistan
9. Population Policy
• Need of Population Policy
• Influencing Population Processes
• Case Studies of Pakistan
• Lectures


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a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Weeks J. R, Population. An Introduction to Concepts and Issues(latest edition). Wadsworth Publishing
Company, USA.
• Poston D. L.& L. F. Bouvier. Population and Society: An Introduction to Demography, (latest edition),
Cambridge University Press, UK.
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143
ECON 462: ISSUES IN PAKISTAN ECONOMY

Prerequisite: Nil
COURSE DESCRIPTION
This course gives an overview of economic issues of Pakistan. Starting from national income accounts, it
carries a detail description of all sectors of the economy. Moreover it also highlights the main problems like
poverty, inflation and unemployment. The last section of this course describes the recent challenges to the
economy of Pakistan.
COURSE OBJECTIVES
The major objective of the course is to give the students the complete comprehension o socioeconomic issues of
Pakistan economy. The students will be able:
1. To have the familiarity with key features of socioeconomic problems and their solutions in Pakistan
2. To understand the process of emerging issues in Pakistan economy
3. To analyze the programs dealing with issues in Pakistan economy
LEARNING OUTCOMES
• IDENTIFY the challenges to the economy of Pakistan
• UNDERSTAND the problems to the economy of Pakistan
• HAVE knowledge about the state of economy.
COURSE CONTENTS
1. Quick Review of National Income Accounts
• GDP (Nominal and Real) and GNP
• Measure of Inflation and Employment
• Measures of Social Welfare
• Beyond GDP
▪ Basic Needs Approach
▪ HDI Approach
2. Review of Alternative Models of Economic Management
• Markets or Liberal Capitalism
• Socialism or State Capitalism
• Social Democracy or Mixed Economy
• Islamic Economics or Islamic Capitalism
• Pakistan’s Models of Economic Management
3. Agricultural Sector of Pakistan
• 1947-58: The Neglected Agriculture Sector
• The Green Revolution and its Impacts
• Evaluation of Green Revolution as Development Strategy
• Critical Analysis of Land Reforms in Pakistan
• Pakistan’s Agricultural Sector: Historical Perspectives and Implications
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4. Industrial Sector of Pakistan
• Composition of Manufacturing Sector
• Process of Industrialization from 1947-58
• The Development Decade of Ayub—1958-68
• The Experimental Regime of Bhutto—1972-77
• Zia Regime and back to the Basics—1977-88
• Industry after Structural Adjustment Program—1988-onwards
• Industrial Development in Pakistan: Factors and Development Programs
5. Fiscal and Monetary Policies and Inflation in Pakistan
• Fiscal Developments
▪ Structure and Trends in Revenue
▪ Structure of Expenditures and Trends of Fiscal Deficit
▪ Financing of Fiscal Deficit
▪ New NFC Award and Medium-Term Budgetary Framework
• Monetary Policy Management and Inflation in Pakistan
▪ Understanding Monetary Data
▪ Monetary Management
▪ Financial Sector Reforms
▪ Salient Features of Banking Sector
• Inflation and its Causes in Pakistan
6. Public and External Debts in Pakistan
• Difference between the two Debts
• Is Debt Creation Always Bad?
• Concerns Regarding Pakistan’s Fiscal Deficit
• Reforms to Bring Debt under Control
7. Structural Adjustment Program (SAP) and Pakistan
• Globalization and Export of Development Thinking
• Composition of SAP
• Implementation of SAP in Pakistan
• Evaluation of the Results of SAP
• Did Pakistan Need to Go for SAP?
• Why Does Pakistan Adopt IMF Program
8. Performance of Pakistan on Foreign Economic Front
• Understanding BOP accounts
• Trends in BOP
• Composition of Exports and Imports
• Historical Directions of Pakistan’s Trade Policy Regimes
• Impacts of Structural Adjustment Program on Trade Policy
• Dealing with Globalization and WTO
• Impacts of Globalization on Poverty and other Socioeconomic Indicators in Pakistan
• Exchange Rate Regimes in Pakistan
• The Weakening Currency of Pakistan
• Why can’t Muslims Adopt a Common Currency?
9. Social Sector in Pakistan
• Health Sector and its Issues
• Education and its Issues
• Gender Inequality
• Regional Inequalities
• Structure of Population
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• Population: Asset or Liability?
• Urbanization and Housing Problems
• Infrastructure Development
• Poverty and Income Distribution
▪ Measurement Issues of Poverty and Income Inequality
▪ Trends in Poverty and Income Distribution
▪ The Implications of Poverty and Income Disparity
▪ Growth and Poverty?
▪ Analysis of Poverty Alleviation Strategies
10. Recent Challenges Facing Pakistan Economy
• Law and Order Situation
• Energy Crises
• Rising Circular Debt
• Lectures




a. Quizzes
missed the quiz.

146
QUALITY ASSURANCE

• Zaidi, Akbar. Issues in Pakistan’s Economy, Oxford University Press, Karachi. (Latest edition).
• Ahmed, Vaqar (2017) Pakistan’s Agenda for Economic Reform, Oxford University Press.
• Hussain, Ishrat (2007) Pakistan: The Economy of an Elite State, Oxford University Press, Karachi.
• Saeed, Khawaja Amjed. Economy of Pakistan. Oxford University Press, Karachi. (Latest edition).
• Economic Survey of Pakistan (various issues) Federal Bureau of Statistics, Government of Pakistan.
• Rashid, Amjed and Barki, ShahidJaved (2016) Pakistan Moving the Economy Forward. Oxford University Press,
Karachi.
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147
ECON 451: TRADE AND DEVELOPMENT

Prerequisite: ECON 351: INTERNATIONAL ECONOMICS
COURSE DESCRIPTION:
This course covers the major issues facing developing economies in a global environment. This course
exposes students to current policy debates underlying the issues of trade and development.
COURSE OBJECTIVES:
1. To study the linkage between trade and development
2. To understand current policy debates underlying the issue of trade and development.
3. To understand the regulatory framework governing international trade.

• UNDERSTAND linkage between trade and development
• UNDERSTAND major issues of trade and development.
• UNDERSTAND international context of trade and development
COURSE CONTENTS:
1. Comparative advantage, trade and protection
2. Trade in goods and technology transfer
3. Pathways to growth and role of trade
4. Global economic crises and impact on trade and development
5. Private Foreign Direct Investment in developing countries
6. Trade in goods and services and financial development
7. Role of Intellectual Property Rights in trade development
8. The political economy of outward dependency and impact of trade on poverty
9. Welfare effect of trade surplus and trade deficit
10. Role of WTO and UNCTAD in trade and development
• Lectures

148



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

• Stiglitz, J.,Fair Trade for All: How Trade can Promote Development. Oxford University Press, 2007.
• Chang, H.,Rethinking Development Economics, Anthem Press, 2003
• Basu, K.,Analytical Development Economics: The Less Developed Economy Revisited. (latest
edition), MIT press.
• Gervais, D., Intellectual Property, Trade and Development, Oxford University Press, 2014
• Hoekman, B., World Trade Organization: Law, Economics, and Politics, Routledge, 2015
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149
ENERGY ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION
This Energy Economics course explores the economics and structure of markets for different energy
sources (such as oil, coal, natural gas), with a focus on electricity, industry structure and regulatory
framework. It will also try to examine current policy issues arising from electrical energy production and
use the relationship with economic growth and the environment
COURSE OBJECTIVES
1) To provide a better understanding and analysis Global energy trends and current situation and
2) To enable the students to combine the economic tools with the goals of energy policy.

Upon the completion of the course the students would be able to:
• DESCRIBE the oil, natural gas and coal production background history and markets.
• EXPLAIN the regulatory framework of the electric utility industry.
• SUMMARIZE and explain the major public policy issues regarding energy efficiency and carbon
emissions.
• ANALYZE energy-related policy issues using standard economic tools.
COURSE CONTENTS
1. Introduction and Background
• Global energy trends and current situation
• Energy and the economy – biophysical foundations
2. Oil industry, history and market structure.

• Oil, gas, and coal resources – geology, discovery, development, production, refining etc.
• World distribution of oil resources and production
• Non-renewable resource scarcity theory
• Oil markets, market structure, and pricing
• Oil price shocks and the economy
3. Natural Gas, Nuclear and Coal Industry

• World distribution of coal, gas, and uranium resources and production
• Nuclear Energy
4. Supply and Demand for Electricity in the US, Pakistan and rest of the world.
5. State Regulatory Model
150
6. Economics of electric power production, linear programming and marginal costs
7. Topics in electric tariff design
8. Electric Industry Restructuring
9. Renewable Resources and Portfolio Standards
• Innovation and learning curve – analysis of alternative energy technologies
• Renewable energy – wind, solar, geothermal etc.
• Energy storage
• Lectures




a. Quizzes
missed the quiz.

QUALITY ASSURANCE
151
• Bhattacharyya, S. C. (2011). Energy Economics Concepts, Issues, Markets and Governance,
Springer-Verlag.
• Fouquet, R. (2013). Handbook on Energy and Climate Change, Edward Elgar Publishing,
Cheltenham.
• Zweifel, P., Praktiknjo, A.J., and Erdmann, G. (2017). Energy Economics: Theory and Applications.
Springer Publisher. ISBN: 978-3-662-53020-7
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ECONOMICS OF CLIMATE CHANGE


Prerequisite: Nil
COURSE DESCRIPTION:
Climate change is a natural phenomenon associated with human livelihoods. The effects of climate change
on different sectors of the economy particularly agriculture and other natural resources may vary across the
diverse ecological regions. The major human induced factors causing environmental degradation are:
mismanagement / over exploitation of natural resources, deforestation and unsustainable agricultural
practices. Timely preparation to climate change is needed to reduce the adverse impacts of climate change
in all sectors of the economy in general and agriculture, livestock, forest and water resources in particular.
COURSE OBJECTIVES:
Main objectives of this course are:
1. To impart basic understanding of the concepts of the climate change and its adaptation and
mitigation measures.
2. To increase knowledge about the risks and vulnerabilities posed by climate change and its potential
impacts for economic development and poverty.
3. To provide an up-to-date economic interpretation of climate change.
4. To discuss and compare the theoretical economic solutions to combating climate change.
5. To outline possible future climate policy issues and their solutions.

It is expected that a successful teaching of the course will result in the following outcomes:
152
• CLARIFICATION of the concept of climate change, its causes and consequences.
• UNDERSTAND the pertinent threats from the climate change to the global and local economy.
• RECOGNIZE the potential measures needed to minimize adverse impact of climate change to the
economy.
• UNDERSTAND the ways and means of addressing climate change related research.
• ABLILITY TO contribute in policy and development related dialogue pertaining to climate change.
COURSE CONTENTS
1. Introduction
• Climate Change
• Climate Change Factors
• Global Warming
2. Causes and Consequences of Climate Change
• Green House Gas Effect
• Trends in Global Carbon Emissions
• Trends and Projections for Global Climate
3. Economic Analysis of Climate Change
• Cost-Benefit Studies of Global Climate Change
• Climate Change and Inequality
4. Policy Responses to Climate Change
• Adaptation and Mitigation
• Climate Change Adaptation Studies
• Climate Change Mitigation: Economic Policy Options
▪ Carbon Taxes
▪ Tradable Permits
▪ Carbon Taxes or Cap and Trade
▪ Other Policy Tools such as Subsidies, Standards, R&D, and Technology Transfer
▪ The Technical Challenge
5. Climate Change Policy in Practice
• The Paris Agreement of 2015
• How adequate or inadequate are the commitments
• Regional, National and Local Actions
• Water, Forests and Soils
• Lectures
153



a. Quizzes
missed the quiz.

QUALITY ASSURANCE

1. Frank, A.,& Elizabeth, A. S. (2008). The Cost of Climate Change, Natural Resource Defense
Council. www.nrdc.org/globalwarming/cost/cost.pdf.
2. Boden, T.A., Marland,G.,&Andres.R. J. (2016). Global, Regional, and National Fossil-Fuel CO2
Emissions, Carbon Dioxide Information Analysis Center (CDIAC), Oak Ridge National Laboratory.
3. Jeremy,C.,&Fedor,D. (2016). Tracking Global Carbon Revenues: A Survey of Carbon Taxes
versus Cap-and-trade in the Real World. Energy Policy96: 50-77.
4. Simon, D.,& Nicholas S.(2014). Endogenous Growth, Convexity of Damages and Climate Risk:
How Nordhaus’ Framework Supports Deep Cuts in Carbon Emissions, Grantham Research
Institute on Climate Change and the Environment, Working paper No. 159, June.
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154
ECON 231: ISSUES IN WORLD ECONOMY

Prerequisite: Nil
COURSE DESCRIPTION
This course offers a comprehensive analysis of various issues of global economy within the field of
International Economics. It investigates the phenomenon of global economy and seeks to provide
understanding of today’s increasingly interdependent world. This course recognizes that economy cannot
be treated separately from other domains of social studies so such topics as political economic theories
and models, historical context, cultural phenomenan, role of information and and communication
technologies, and others will be discussed.
COURSE OBJECTIVES:
The basic objective of this course is to focus on major global economic issues that characterize the state of
our current world. This course aims to give students a deep and a comprehensive underestanding of what
global economy is and how to manage domestic economy in the context of a dynamic global economy.
This course introduces and critically examines the processes involving the increasing interconnection of the
world and its effects on people’s lives. The course provides an interdisciplinary perspective on major
concepts in order to make sense of the changes taking place at a global scale. It also explores existing
debates and case studies in order to illustrate the ongoing challenges that communities face.

• LEARN fundamentals regarding the dynamics of the global economy. They will explore characteristics
of capitalist and socialist economies; examine new trends in global economy.
• Be AWARE OF data relating to global economic performance and will be able to interpret what they
show.
• Have good KNOWLEDGE of the evolution of the world’s monetary and trading systems.
• Be able to apply this theory to investigate and better understand contemporary world economic
issues.
COURSE CONTENTS
1 Economic Geography: An Introduction
2 The Historical Development of Capitalism
155
3 Population
4 Resources and Environment
5 Theoretical Considerations
6 Agriculture
7 Manufacturing
8 Services
9 Transportation and Communications
10 Cities and Urban Economies
11 Consumption
12 International Trade and Investment
13 International Trade Patterns
14 Development and Underdevelopment in the Developing World
• Lectures




a. Quizzes
156
missed the quiz.

QUALITY ASSURANCE

• Stutz, F. P., & De Souza, A. R. (1998). The world economy: Resources, location, trade, and
development. Prentice Hall.
• Stiglitz, J. E. (2002). Globalization and its Discontents. New York.
• Dicken, P. (2007). Global shift: Mapping the changing contours of the world economy. SAGE
Publications Ltd.
• Rosser, J. B., & Rosser, M. V. (2018). Comparative economics in a transforming world economy.
MIT Press.
• Freidman, T. (2005). The world is flat. New York: Farrar, Straus and Giroux.
• Bhagwati, J. (2007). In defense of globalization: With a new afterword. Oxford University Press.
• Stiglitz, J. E. (2008). Making Globalization Work. WW Norton & Company.
157
ECON 351: INTERNATIONAL ECONOMICS

Prerequisite: Nil
COURSE DESCRIPTION:
The subject matter of international economics, consists of issues raised by the special problems of
economic interactions among nations. The subject explains the gains from trade, the pattern of trade,
protectionism, the balance of payments, exchange-rate determination, international policy coordination, and
the international capital market.
COURSE OBJECTIVES:
The main objectives of the course are:
1. To apply the theoretical models of trade into practice
2. To introduce the students with alternative trade barriers or enabling the students to critically
analyze the pros and cons of free trade vs restricted trade
3. To provide information regarding the overall economic development of the country.

• UNDERSTAND the existing patterns of international trade and what determines them, or the
theories and practices of world trade
• RECOGNIZE the functioning of foreign exchange market and balance of payments
• ANALYZE the implications of international trade for the economies of the world both developing
and developed.
COURSE OUTLINE:
1. Introduction
• International Economics and Economic theory
• The subject matter of International Economics
• Importance of international trade in the changing world
2. Theories of International Trade
• History of International trade, Pre-classical theories of international trade-Mercantilism, and
Physiocracy.
158
• Classical theories of International Trade - absolute advantage, comparative advantage and
reciprocal demand
• Neo-Classical theories of international trade- Opportunity cost theory
• Modern Theory of International Trade- H-O Theory, H-O-S Hypothesis
• Leontief Paradox. Alternative theories of trade-Human Skills. Technology and product cycle
theories. Use of indifference curves, offer curves and box diagrams for exposition of trade theory
3. International trade Policies
• Free trade vs protected trade
• Objectives of commercial policy
• Instruments of trade policies- tariff barriers, non-tariff trade barriers
• GATT, WTO
4. Trade policies in Developing countries
• Import substituting Industrialization
• Export oriented Industrialization
5. Economic integration
• Types and reason of economic integration
• The theory of customs union, static and dynamic effects of custom unions. Economic integration
among the countries- EU and SAARC
• The foreign Exchange Markets
• Definition and Functions
• Hedging and Speculation
• Types and determination of exchange rate
• The Balance of Payments
• Balance of payments accounting
• Features of balance of payments.
• Components of balance of payments.
• Measuring the deficit or surplus of balance of payment
• Lectures

159


a. Quizzes
missed the quiz.

QUALITY ASSURANCE
•. Salvatore, D. International Economics, (latest edition).Wiley Global Education.
•. Krugman, P. R. International Economics: Theory and policy, (latest edition), Pearson Education India.
•. Francis Cheruniliam. International Economics,(latest edition), The McGraw-Hill Companies
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160

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DEPARTMENT OF ECONOMICS

ABDUL WALI KHAN UNIVERSITY MARDAN

Program learning outcomes

3. Independently employ statistical and econometric techniques in collecting, interpreting, organizing

Total Courses for BS DEVELOPMENT STUDIES 4-Years Degree 44 130

Compulsory Courses (with no choice): 9

Introduction to Information English IV (Academic Reading

Intermediate Mathematics Basic Mathematics

General Courses (Diversification): 8

Micro Perspective of Economic Development Research Methodology

Natural Resource Economics

Other options available:

BS DEVELOPMENT STUDIES (4-YEAR)

Course Code Subject Credit Type

Eng-351 English-II (Communication Skills) 3 Compulsory

Contact Hours: 48 Credit Hours: 3.0

ASSESSMENT ITEMS AND WEIGHTS

I. Mid Term Examination (20%)

III. Internals (20%)

b. Project/ Topic / Case Study Presentation

Text and Reference Books:

Supplementary study material:

Course Code: Econ-301

Contact Hours: 48 Credit Hours: 3.0

COURSE LEARNING OUTCOMES

2. Demand & Supply:

3. Elasticity of Demand & Supply:

5. The Theory of production & Theory of Cost:

ASSESSMENT ITEMS AND WEIGHTS

I. Mid Term Examination (20%)

II. Final Examination (60%)

III. Internals (20%)

b. Project/ Topic / Case Study Presentation

Text and Reference Books:

• Michael J. Swann, William A. McEachern Microeconomics: A Contemporary Introduction, 3rd

Contact Hours: 48 Credit Hours: 3.0

COURSE DESCRIPTION AND OBJECTIVES

ASSESSMENT ITEMS AND WEIGHTS

I. Mid Term Examination (20%)

III. Internals (20%)

b. Project/ Topic / Case Study Presentation

Text and Reference Books:

COURSE LEARNING OUTCOMES:

2. Functions of one real variable:

ASSESSMENT ITEMS AND WEIGHTS

I. Mid Term Examination (20%)

III. Internals (20%)

b. Project/ Topic / Case Study Presentation

Text and Reference Books:

INTRODUCTION TO POLITICAL SCIENCE

COURSE DESCRIPTION AND OBJECTIVES

3. INDIVIDUAL IN POLITICAL COMMUNITY

5. STRUCTURE AND ROLE OF GOVERNMENT

ASSESSMENT ITEMS AND WEIGHTS

I. Mid Term Examination (20%)

II. Final Examination (60%)

III. Internals (20%)

b. Project/ Topic / Case Study Presentation

Text and Reference Books: