Economics

Economics | |
|Sr. No. |Core Areas |Percentage |
|1. |Micro-Economics |15% |
|2. |Marco-Economics |15% |
|3. |Econometrics |10% |
|4. |International Trade Theory and Finance |10% |
|5. |Development Economics Theory and Policy |10% |
|6. |Quantitative Economics |4% |
|7. |Monitory Theory and Policy |4% |
|8. |Fiscal Policy/Public Finance |4% |
|9. |Major Issues in Economics |4% |
|10. |Islamic Economics |4% |
|11. |Agricultural/Resource Economics |4% |
|12. |Research Methodology |4% |
|13. |Project Planning Monitoring and Evaluation |4% |
|14. |Environmental Economics |4% |
|15. |Public Policy & Governance |4% |
| |Total |100% |

|Economics (Detailed) |
|Sr. No. |Core Areas |Percentage |
|1. | |15% |
| |MICRO-ECONOMICS: | |
| | | |
| |Consumer, firm, production and market theory and their applications. Classical methodology | |
| |pertaining to models of Consumer Behavior, Firms’ decision making, Perfect and Imperfect Production | |
| |and Market Structure, General equilibrium analysis, uncertainty, risk analysis, Game theory, and | |
| |Welfare Economics. | |
|2. | |15% |
| |MARCO-ECONOMICS: | |
| | | |
| |National Income and its determination, Consumption, Savings and Investments, Demand and Supply of | |
| |money, and aggregate demand and supply. IS and LM curves, Exchange Rates and open economy, long run | |
| |economic growth, economic fluctuations, and macroeconomic policy debate involves the use of | |
| |mathematical tools and models. | |
|3. | |10% |
| |ECONOMETRICS: | |
| | | |
| |Fundamental theories of micro- and macro-economics using mathematical models, Static and/or | |
| |equilibrium analysis, comparative-static analysis, and static optimization problems. Measures of | |
| |central tendency, probability, sampling design, estimation techniques, analysis of variance, | |
| |non-parametric statistics, and Bayesian analysis. | |
|4. | |10% |
| |INTERNATIONAL TRADE THEORY AND FINANCE: | |
| | | |
| |Models of gains from trade, pattern of trade, international flow of factors of production, trade | |
| |related competitive theories, liberalization reforms, balance of payments problems, determinants of | |
| |exchange rate, and future markets, implications of international flow of funds and debt crises, | |
| |Contribution of financial institutions (particularly IMF and World Bank) in development of | |
| |underdeveloped countries. | |

|5. | |10% |
| |DEVELOPMENT ECONOMICS THEORY AND POLICY: | |
| |Nature of regression analysis, single- and multi-variable regression analysis, assumptions of the | |
| |classical regression model, econometric modeling, regression on dummy dependent variable, | |
| |simultaneous equation models, and time series econometrics. | |
|6. | |4% |
| |QUANTITATIVE ECONOMICS: | |
| | | |
| |The conceptual meaning of economic development, economic growth, common characteristics of | |
| |developing countries. Delopment economic theories, structure and functioning of institutions, | |
| |markets, and policies adopted in the developing countries to accelerate welfare of their citizens. | |
| |Theories of economic growth and models and their application pertaining to contemporary issues of | |
| |the developing world, such as poverty, income distribution, unemployment, and macroeconomic | |
| |destabilization. | |
|7. | |4% |
| |MONITORY THEORY AND POLICY: | |
| | | |
| |Role of money, Inflation, use abuse, types, causes, solution, Monetary policy and its impacts on | |
| |output and growth, Developments in macroeconomics in the 20th century, Credit and banking, role of | |
| |micro-finace in poverty eradication and development, Monetary models with micro-foundations, Time | |
| |Inconsistency Inflation bias of discretionary policy, solutions, The mechanics of Monetary Policy, | |
| |Monetary Operations, Monetary Tansmission Mechanism, The Science of Monetary Policy, Monetary Policy| |
| |framework, Optimal monetary policy, inflation targeting, Current issues in monetary policy, | |
| |Liquidity trap, great moderation, roles of asset prices, Fiscal Monetary-Exchange rate policies mix.| |
| |Role of State Bank, Government borrowing, Pakistan situation, analysis and policy options. | |
|8. | |4% |
| |FISCAL POLICY/PUBLIC FINANCE: | |
| | | |
| |Introduction and Role of Public Sector, The Theory of Public Goods, Fiscal Principles and Concepts, | |
| |Tax Structure of Pakistan, Tax Efforts and Tax Collection Performance in Pakistan, Public Revenue | |
| |and Taxes, The Economic Case for the Public Sector to Allocate Resources, The Theory of Public | |
| |Goods, Distributional Equity in Taxation, Fiscal Policy, Public Expenditure and Budget, Fiscal and | |
| |Economic Aspects of Federalism, Federal – Provincial Fiscal Co-ordination, Collection of Revenue and| |
| |Provincial Share and its Distribution Criteria. Deficit Financing and its Impacts, Fiscal Reforms, | |
| |National Finance Commission of Pakistan. Direction of the Growth of Public Expenditures, Kinds of | |
| |Budget, Surplus, Deficit and Balancedm, Preparation of Budget Cycle in Pakistan, Development and | |
| |Non-Development Budget and its Patterns. Zero Based Budget, Planning, Programming Budgeting System. | |
|9. | |4% |
| |MAJOR ISSUES IN ECONOMICS: | |
| | | |
| |An overview of major issues in economics with special reference to Pakistan’s economy while focusing| |
| |on the current economic issues. Manpower planning, unemployment, poverty, income distribution and | |
| |disparities, economic growth, budget deficits, public debt, Sectoral imbalances, decentralization, | |
| |growth without significant development and expected impacts of MDGs, and WTO regime. | |
|10. | |4% |
| |ISLAMIC ECONOMICS: | |
| | | |
| |Microeconomic to macroeconomic concepts pertaining to fundamentals of Islamic thoughts. Development | |
| |economics of Abu Yousaf to debate on good governance, Functioning of market system of Ibn-e-Khuldon.| |
| |Islamic models of finance, banking systems, welfare and distribution of income, zakat and social | |
| |justice, and current process of Islamization of economic system in Pakistan. Fiscal and monitory | |
| |policies in an Islamic economy and collaboration of monetary and fiscal policy. | |
|11. | |4% |
| |AGRICULTURAL/RESOURCE ECONOMICS: | |
| | | |
| |Introduction and importance of agriculture, Structure and characteristics of agriculture in LDCs, | |
| |Role of agriculture in economic development, Theory of rent and the concept of ‘Surplus’ Agriculture| |
| |in dualistic development models, Resource use efficiency and technical change in peasant | |
| |agriculture, Supply response, Green revolution in Pakistan and responses. Present status of Green | |
| |Revolution in Pakistan: Empirical analysis. Population and food supplies, Food security, | |
| |Agricultural marketing, change marketing in agricultural, Choice of planning strategy for | |
| |agriculture development, Agricultural project planning. Agricultural policy. | |
|12. | |4% |
| |RESEARCH METHODOLOGY: | |
| | | |
| |Importance of Research Methodologies. Research techniques in social sciences and their limitations. | |
| |Theory and basis of research, Thinking, Field Research Designs; the process of field research, | |
| |Exploratory Research, Casual Inference. Methods of communication in survey. Vision survey and | |
| |communication techniques. Art of asking questions and getting quality information. Preparation of | |
| |Research Proposal Questionnaire, Sample Design; the Nature of Sampling, Measurement and Scaling; | |
| |Measurement, Measurement Scales, the Characteristics of Sound Measurement, the Development of | |
| |Measurement Tools, Scaling, the Nature of Scaling, Response Methods, Scale Construction. Data | |
| |Collection Methods, Survey Instruments and Field Procedures; Survey Instrument Designs, the Survey | |
| |Situations, the Instrument Development Process, Questionnaire Development, Field Procedures, | |
| |Personal Interviewing, Telephone Interviewing, Interviewing by mail, observations. Data collection, | |
| |Observation, Experimentation and Simulations; Experimentation and Simulation. Choice of Research | |
| |Technique, Experimental Research Design, Simulation, Observation, Observation Designs. Use of | |
| |Secondary Data; the Nature of Secondary Data Sources, the Use of Secondary Data, Types of Secondary | |
| |Data Sources, Statistical Sources, Data Research Procedures, Evaluating Secondary Data. Vision | |
| |Survey: Interpretation of Replies. Data Presentation and Analysis: Elements of Analysis, Data | |
| |Preparation, Special Data Problem, Tabulation, Data Presentation, and Data Analysis. Report Writing;| |
| |the Questions and analysis of Research Proposal. Organization of Research Paper. How to format and | |
| |Write country Research Report. Executive summary and abstract of a report. Conclusion and its basis.| |
| |Evaluation of Research Work. The Research Report, Research Report Format, Writing and editing of | |
| |research Report. | |
|13. | |4% |
| |PROJECT PLANNING MONITORING AND EVALUATION: | |
| | | |
| |Introduction about monitoring and evaluation, usefulness and significance, Aspect of project | |
| |appraisal with a special focus on economic versus financial analysis, Contours and Dimensions of a | |
| |project and its essential ingredients, Project Vs. Plans. Project Cycle, Identify Project Benefits | |
| |and Costs, Pricing Project Costs and Benefits, Comparing Project Costs and Benefits (Measuring of a | |
| |Project Worth), Undiscounted measures of project worth, Discounted measures of NPW, IRR, BCR, Net | |
| |benefit – Investment Ratio, Comparative assessment of discounted measures. Social vs. Economic | |
| |benefits and selection of projects. Applying Discounted Measures of Project Worth, Sensitivity | |
| |analysis, Switching value, Choice among mutually exclusive alternatives, Domestic resource cost of | |
| |foreign exchange earning / saving, Cost Effectiveness and Financial (Investment) Analysis. | |
| |Formulation of project indicators at impact, outcome, output and indicator levels, Logical framework| |
| |Analysis. | |
|14. | |4% |
| |ENVIRONMENTAL ECONOMICS: | |
| | | |
| |Introduction and Awareness, Analytical Tools, Model of Environment and Economic Activity. Market | |
| |Based Approach and Externalities. Economic Efficiency and Markets. Equity and Social Efficiency. | |
| |External costs and external benefits, Deforestation and Renewable Resources, Measuring environment | |
| |values. The Economics of Environmental Quality Deforestation and Macroeconomic Environment. | |
| |Industrialization and its environmental cost, Use of Pesticides and Environmental Impacts. Natural | |
| |resources degradation. Cost of Pollutions/Environmental degradation. Economic Development and the | |
| |Environment, International awareness about environment, production and need for Reforms. Economic | |
| |thoughts and Environment. International Agencies: Environmental concerns and programs. Urbanization | |
| |and environmental issues. Sustained development, Ecology and economic progress. Climate change and | |
| |its consequencies. Pakistan Environmental Issues and Policy, Agreements on Environments. Local, | |
| |Regional and Global Issues, Impacts of Environment Degradation. | |
|15. |PUBLIC POLICY & GOVERNANCE. |4% |
| |Total |100% |