QUAID-I-AZAM UNIVERSITY, ISLAMABAD, PAKISTAN


BS Courses

1st Semester
  • EC151: Functional English
    • Semantics: antonyms, synonyms, homonyms – one word substitution
    • (Syntax): traditional grammar, parts of speech, major word classes, further classifications (regular, countable; uncountable; singular; plural), pronouns, verbs, adjectives, adverbs, minor word classes: preposition, conjunctions, interjections, auxiliary verbs an determiners, kinds of verbs: finite and non finite
    • Syntax Modern Grammar – sentence structure, types of sentences based on function, mood, transformation, inversion of sentences, analysis of complex sentences, subject, Predicate, complements, direct and indirect objects, phrases, syntactical rules (subject and verb agreement), synthesis of sentences, clauses – types and functions
    • Syntax: tense and voice: structure of tenses, function, conversion into negative and interrogative., active and passive voice and usage, punctuation
    • (Narration):direct and indirect speech: rules of conversion,
    • Structural words: Articles and usage
    Discourse: composition and comprehension , precise writing
  • EC-153 Islamic Studies or EC-154 Comparative
    EC153: Islamic Studies
    • Fundamentals of Islam. (Aqaid, Ibadat, Islamic Dawah, etc.)
    • Ethical values of Islam;
    • Serah of the Holy Prophet (PBUH); Islamic Civilization and its affects on humanity.
    EC154: Comparative Religions
    • Introduction to major religions of the world
    • Views from historical and comparative perspective with descriptive analysis of their belief system, moral code and symbolic rituals.
    • Judaism, Christianity, Islam, Hinduism and Buddhism
  • EC-101 Microeconomics Principles
    • Micro and Macro economics, scarcity, wants and social welfare
    • Utility, demand, demand elasticities and comparative static analysis
    • Production in short and long run, stages of production, productivity and returns to scale
    • Short and long-run costs, economies and diseconomies of scale and supply analysis
    • Supply-demand analysis, consumer and producer surplus and economic efficiency
    • Welfare analysis of price controls and taxation
    • Public goods and externalities in supply-demand framework
    • Markets structure: Basic analysis of perfect competition, monopoly and imperfect competition
    • Factor markets, wage and rents
    • Supply-demand analysis of trade and tariffs
  • EC-111: Linear Algebra
    • Basic algebra
    • Set theory
    • Functions and functional forms
    • Concave, convex, quasi-concave and quasi-convex functions
    • Vectors, matrices and linear algebra
    • Systems of simultaneous linear equations and solution methods
    • Characteristic roots and analysis of polynomial functions
  • General Course 1
  • General Course 2
2nd Semester
  • EC152: English Comprehension and Composition
    • Comprehension skills: previewing, reading for main ideas, using context for vocabulary, scanning for details, making inferences, identifying exceptions and referring to the passage.
    • Basic grammar review: definition of a sentence, sentence structures, punctuation marks, modifiers (adjectives and adverbs), verb tense, subject-verb agreement, article/determiner, word order, prepositions.
    • Advanced sentence structures: misplaced modifiers, dangling modifiers, parallelism, sentence fragments, run-on sentences.
    • Pre-writing techniques: free-writing, note keeping, brain storming, mind mapping, journalistic questions, exercises for students.
    • Paragraph writing: unity, topical sentence and supporting details, relevant exercises.
    • Essay writing: characteristics, types, organization, common methods of beginning, cohesion, coherence, practice activities.
    • Précis writing:, need/importance, characteristics, do’s and don’ts in précis writing, practice activities.
    • Message composition: memo writing, email messages, CV/resume writing, cover letter
    • Word Skills: vocabulary building, synonyms, antonyms, effective use of thesaurus, dictionary skills.
    • Presentation skills: assessing the reason and receivers, delivering the presentation, gathering material, organization of data, use of appropriate language, use of graphs, figures and visual aids, involving the audience
  • EC155: Pakistan Studies
    • Historical background of Pakistan
    • Muslim society in Indo-Pakistan, the movement led by the societies
    • The downfall of Islamic society
    • The establishment of British Raj- causes and consequences
    • Political evolution of Muslims in the twentieth century: Sir Syed Ahmed Khan; Muslim League; Nehru; Allama Iqbal
    • Independence Movement; Lahore Resolution
    • Pakistan culture and society
    • Constitutional and administrative issues
    • Pakistan and its geo-political dimension
    • Pakistan and international affairs
    • Pakistan and the challenges ahead
  • EC105: Macroeconomics Principles
    • Micro and macro economics, economic aggregates and flow of economic activities
    • Macroeconomic issues: economic growth, stability and social welfare
    • Macroeconomic policy framework
    • National income and product accounts
    • Theories of consumption/saving and investment
    • Money, bonds and interest
    • Macroeconomic equilibrium and policy effectiveness
    • Inflation-unemployment trade-off
    • International trade, balance of payments and exchange rates
  • EC112: Descriptive Statistics
    • Quantitative and qualitative data, statistical tables and charts
    • Measurement of averages and location
    • Measurement of growth and dispersion
    • Correlation and regression analysis
    • Aggregation and index numbers
  • General Course 3
  • General Course 4
3rd Semester
  • EC251: Writing Skills
    • Technical writing: distinction, purposes, importance and objectives
    • Features of technical writing: clarity, conciseness, accuracy, organization, ethics
    • Producing technical documents: writing process, pre-writing techniques
    • Technical writing style: sentencing, paragraphing, revision and organizing
    • Formal and informal formats
    • Memo writing: basic elements and types
    • Professional communication: letter writing and format, similarities and differences between letters and memos, types of letters
    • Basics of report writing, purpose and factors of report writing, gathering information, interpreting findings, short and long reports, abstracts, summaries, introductions, final recommendations and conclusions; editing the report
    • Job application material: goals and audience, planning the resume and letter, writing and formatting resume, writing letter of application
  • EC-257:Ethics
    • Elementary theories in normative ethics of behavior: core areas of ethics, cultural relativism, religious approaches to ethics
    • Intermediate theories in normative ethics of behavior: utilitarianism, Kant theory, social contract theory
  • EC201: Intermediate Microeconomics
    • Preference structure, indifference curves analysis and consumer’s equilibrium
    • Demand functions and their properties
    • Production functions, cost functions and market structure
    • Short and long run analysis of perfectly competitive markets
    • Monopoly, natural monopoly, multi-plant monopoly, price discrimination, monopsony and bilateral monopoly
    • Monopolistic competition, product differentiation branding, packaging and service, advertising
    • Market concentration, oligopoly, collusion and collision
    • General equilibrium, economic efficiency and social welfare
  • EC211: Calculus
    • Limits, continuity and differentiability
    • Differential calculus
    • Taylor series
    • Jacobian and Hessian Matrices
    • Unconstrained optimization
    • Constrained optimization
    • Comparative static analysis
    • Integral calculus
  • General Course 5
  • General Course 6
4th Semester
  • EC252: Communication Skills
    • Need to acquire effective communication Skills, especially at workplace
    • Language as the medium of communication: origin and importance of language, introduction to the four basic communication skills and their significance in the respective discipline, relationship of language with the basic communication skills
    • Communication process: types of communication, principles of effective communication, barriers to effective communication, seven Cs of effective communication
    • Audience recognition and involvement: defining terms for different audience levels, multicultural audiences, sexist language, audience involvement
    • Listening skills (theory and practice): identifying four different listening responses, practicing appropriate questioning responses, providing feedback in reflective listening, barriers to listening
    • Speaking skills: improving pronunciation, neutralizing accent, speaking with an outline, speaking extempore, improving general spoken expression, speeches and oral presentations, gathering material, organization of data, use of appropriate language
    • Reading Skills: The basic rules of reading, skimming, scanning, surveying, reading comprehensions, reading tables, graphs and bar-charts, practicing reading activities
  • EC256: Computer Skills
    • Computer hardware, components and operations
    • Operating System: DOS, Windows, Antivirus
    • Basic software: Microsoft Office: Microsoft Word, Power Point, Access, Excel
    • Statistical Packages: SPSS, Stata, etc.
  • EC205: Intermediate Macroeconomics
    • IS-LM framework and AS-AD analysis
    • Monetary and fiscal policies under Classical and Keynesian settings
    • Rational expectations and New-Classical economics
    • Price rigidity and New Keynesian economics
    • Supply shocks and Real Business Cycle Theory
    • Theories of economic growth
  • EC212: Inferential Statistics
    • Probability theory, probability distributions and expectations
    • Multivariate probability distributions and expectations
    • Specific probability distributions and their probabilities
    • Sampling and estimation
    • Testing of hypothesis regarding population means and proportions
    • Analysis of variance
    • Non-parametric statistics
  • Language Course (Non-English)
  • General Course 7
5th Semester
  • EC-312 Econometrics
    • Structure and assumption of two-variable Classical linear regression model
    • Ordinary Least Squares estimators and their properties
    • Three-variable multiple regression model and OLS estimation
    • Goodness of fit and statistical inference in regression analysis
    • Specification problem
    • Treatment of qualitative variables in regression analysis
    • Multicollinearity: causes, consequences, symptoms and solutions
    • Autocorrelation: causes, consequences, tests and solutions
    • Heteroscedasticity: causes, consequences, tests and solutions
    • Endogeneity: causes, consequences, tests and solutions
    • Introduction to time series econometrics
    • Simultaneous equations.
  • EC301: Information Economics
    • Information and games
    • Choice under uncertainty with state-independent preferences
    • Choice under uncertainty under state-dependent preferences
    • Models of oligopoly, monopolistic competition and bilateral monopoly
    • Information asymmetry, moral hazard and adverse selection
    • Principle-agent problem and signaling
  • EC305: Macroeconomics Controversies
    • Macroeconomics of orthodox Classics and Keynes
    • Role of information and expectations in macroeconomic modeling
    • Disequilibrium macroeconomics, Monetarism and Neo-Classical Syntheses
    • Rational expectations and macroeconomic modeling
    • New-Classical and New-Keynesian macroeconomics
    • Real business cycle theory
    • Consumption; investment; government debt and Ricardian equivalence
    • Macroeconomic targets and policy options
  • EC311: Dynamic Optimization
    • First order linear differential and difference equations
    • Higher order linear difference and differential equation and solution methodology
    • Non-linear differential equations, linear approximation and stability
    • Dynamic programming and solution methodology
  • EC321: Financial Economics
    • Overview of Financial Markets/Instruments
    • Basic Tools for Portfolio Analysis
    • Mean Variance Analysis
    • The Capital Asset Pricing Model (CAPM)
    • Factor Models and Arbitrage Pricing Theory (APT)
    • Empirical Evidence on Asset Pricing Theories and Market Efficiency
    • Markets, Traders and the Trading Process
    • Adverse Selection in Financial Markets
    • Fixed-Income Securities: An Overview
    • Bond Pricing and the Term Structure of Interest Rates
    • The Management of Bond Portfolios
    • Futures, options and swaps
6th Semester
  • EC313: Time Series Econometrics
    • Exploratory Analysis of Time Series Data
    • Stochastic Process, Stationarity Auto-covariance and Autocorrelation functions
    • Stationary linear Models
    • Non-stationary Linear Models
    • Forecasting
    • Non-linear Models, Stochastic Volatility, ARCH Models
    • Multivariate Analysis
    • Regression Analysis
    • Non-stationary Vector Models: Co-integration
  • EC302: Microeconomic Theory
    • Axiomatic approach to consumer theory
    • Marshallian and Hichsian demand systems and their properties
    • Duality in consumer demand system
    • Empirical models of consumer demands
    • Production sets and production function
    • Cost, revenue and profit functions, input demand function, output supply functions and their properties
    • Duality in production theory
    • Monopoly, multi-plant multi-market monopoly
    • Empirical models of firms’ behavior
    • Inter-temporal choice problem.
  • EC306: Macroeconomic Dynamics
    • Harrod-Domar and Solow-Swan models of economic growth
    • Remsay-Phelps-Koopman model of economic growth
    • Samualson–Diamond-Gale overlapping generations models
    • Growth accounting and Catching-up debate: Theory and empirics
    • Theories and models of endogenous growth
    • Dynamic Stochastic General Equilibrium models
    • Growth in open economies
  • EC331: International Economics
    • Motivation for international trade: comparative advantage and factor scarcity
    • Gains from international trade
    • Tariffs and other trade barriers
    • Trade patterns in Pakistan
    • Balance of payments accounts
    • Nominal and real exchange rates and their determination
    • Capital movements external borrowing, external debt and exchange rate stability
    • Balance of payments and external debt of Pakistan
  • EC341: Development Economics
    • Introduction to development theories
    • World development issues
    • Savings, investment and economic growth
    • Economic growth, external borrowing and debt
    • Human resource and development
    • Development issues in Pakistan
    • Critical analysis of development process in Pakistan
7th Semester

    Economics

  • EC401: General Equilibrium and Welfare Economics
    • Existence, uniqueness and stability of multi-market equilibrium
    • Economic efficiency in production and consumption
    • Market mechanism, economic efficiency and ‘second-best’ solutions
    • Core of exchange economy and efficiency of market mechanism
    • Social welfare function, income distribution and compensation principle
    • Joint products, public goods and externalities
    • Applications in public sector economics and international trade.
  • Option 1
  • Option 2
  • Option 3
  • Option 4

    Economics and Finance

  • EC421: Financial Accounting
    • Introduction to Accounting
    • Accounting Process
    • Financial Reporting and the accounting cycle
    • Finalization of Accounts
    • Cash flows and financial statement analysis
    • Business Structures and Accounting Implications
    • Accounting for investing & financing activates.
    • Reconciliation of Books
    • Petty Cash Accounting
    • Inventory Accounting
    • Depreciation Accounting
    • Ethical Practices in Accounting/Accounting Bodies
    • Technology and Financial Statement Analysis
  • EC422: Financial Management
    • The Financial Environment: Concepts and Principles
    • Accounting, Cash Flows, and Taxes
    • Financial Statement Analysis
    • The Time Value of Money
    • Valuing Bonds and Stocks
    • Risk and Return
    • Business Investment Criteria
    • Capital Budgeting Cash Flows
    • Capital Budgeting in Practice
    • Capital Budgeting Cash Flows and Risk Analysis
    • Capital Structure
    • The regulatory foundation for the direct and indirect costing of sponsored program activity,
    • financial management decision making and system development
    • Financial Analysis
    • Financial Planning
    • Bonds and their Valuation
    • Stocks and their Valuation
    • Option Valuation
    • Weighted Average Cost of Capital
  • EC423: Corporate Finance
    • Sources of corporate finance, costs and risks
    • Financial decision making of corporations
    • Moral hazard, adverse selection and principle-agent problem in financial decision making
    • Valuation of financial securities; risk and diversification
    • Theories and models of capital structure
    • Financial markets of futures and options
    • Applied issues in corporate finance
  • Option 1
  • Option 2

    International Economics

  • EC431: International Trade Theory
    • Comparative advantage, productivity differentials and international trade
    • Factors scarcity, factor intensities and international trade
    • Increasing returns, imperfect competition and intra-industry trade
    • Theory of Tariffs, quotas and subsidies
    • Gains from international trade; theory and practice
    • Distributional effects of international trade
    • Custom unions, regional trading agreements; regional cooperation and trade diversion
    • International trade and growth nexus
  • EC432: Open Economy Macroeconomics
    • Equilibrium analysis of goods and assets markets and the balance of payments
    • Monetary and fiscal policies in an open economy under fixed and floating exchange rates
    • Exchange rate regimes, uncertainty and optimal intervention in assets markets
    • Capital movements, technological externalities, economic growth and convergence hypothesis
    • Resource gaps, internal and external borrowings and debt dynamics.
  • EC433: Trade and Development
    • Comparative advantage, trade and protection
    • Trade, investment and growth
    • Trade in goods and technology transfer
    • Human resource development, trade and growth
    • Domestic resource gap, trade deficit, external borrowing and debt accumulation
    • Debt retirement, net resource transfer and economic growth
    • Miracle growth and economic crisis in East Asia
  • Option 1
  • Option 2

    Development Economics

  • EC441: Development Theory
    • Historic theories of growth and development
    • Measures of inequality, poverty and their applications
    • Population and development
    • Employment and the labor market
    • Human capital and productivity
    • Urbanization and rural-urban migration
    • Agricultural transformation
    • Industrial development and small manufacturing enterprises (SMEs)
    • Environment and development nexus
    Trade and development nexus
  • EC442: Sustainable Development
    • Theory and modeling environmental and natural resource economics
    • Technology, industrial development, economic growth and environment
    • Strategies for sustainable development in agriculture and manufacturing sectors
    • Optimal growth in the presence of environmental externality
    • Natural resources and economic growth
    • International trade, growth and environment
    • Water resources, pollution and economic growth
  • EC443: Trade and Development
    • Theories and models of economic growth in an open economy
    • International trade, foreign investment, technology transfer and economic growth
    • Trade and growth causality, theory and empirical evidence
  • Option 1
  • Option 2
8th Semester

    Economics

  • EC400: Applied Economics
    • Descriptive data analysis
    • Estimation of econometric models, hypothesis testing and diagnostics and solutions of econometric problems (multicollinearity, autocorrelation, heteroscedasticity and endogeneity)
    • Diagnostics and estimation of univariate time-series models (ARMA and ARCH models)
    • Diagnostics and estimation of multivariate time-series models (VAR models, causality, impulse response analysis, variance decomposition and co-integration)
    • Survey data analysis of household consumption
    • Survey data analysis of manufacturing production
    • Survey data analysis of agricultural production
    • Analysis of macroeconomic and financial time-series data with applications in consumption, investment, budget and international trade, money, inflation, interest rate, exchange rate and stock prices
  • EC-409 Viva Voce Examination
    The Viva voce examination will be based on compulsory courses and current issues at the national and international levels.
  • Option 1
  • Option 2
  • Option 3
  • Option 4

    Economics and Finance

  • EC424: Financial Econometrics
    • Non-linear econometric models and estimation
    • Capital Assets Pricing Models with linear and non-linear specifications
    • Measurement of systematic and unsystematic risks, constant and varying risk, volatility and ARCH models
    • Treatment of asymmetry in financial variables
    • Univariate forecasting and simulation of financial variables
    • Multivariate models, causality, impulse response analysis and variance decomposition
    • Non-stationary Vector Financial Models and co-integration
  • EC425: International Finance
    • Balance of payments account, foreign exchange markets and exchange rates
    • Fixed, floating and managed float
    • Purchasing power parity and interest rate parity
    • Expectations, exchanges rate and interest rate
    • Currency risk, futures and options markets
  • EC-429 Viva Voce Examination
    The Viva voce examination will be based on compulsory courses and current issues at the national and international levels.
  • Option 1
  • Option 2

    International Economics

  • EC434: International Trade Policy
    • Tariffs, quotas and subsidies under perfect and imperfect competition
    • Optimal and second-best trade-policy interventions in the presence of market imperfections and information asymmetry
    • Policies to manage external debt
    • Debt crisis and a new role for the World Bank and the IMF
    • Regional trade, foreign finance, investment, aid, poverty and income distribution
    • The WTO, globalization challenge and future of trade
    • Trade, environment and sustainable development
  • EC435: International Finance
    • Balance of payments account, foreign exchange markets and exchange rates
    • Fixed, floating and managed float
    • Purchasing power parity and interest rate parity
    • Expectations, exchanges rate and interest rate
    • Currency risk, futures and options markets
  • EC-439 Viva Voce Examination
    The Viva voce examination will be based on compulsory courses and current issues at the national and international levels.
  • Option 1
  • Option 2

    Development Economics

  • EC444: Development Policy
    • Policies to manage poverty, income distribution and social welfare
    • Human development (education, health and urban facilities)
    • Policies to manage external and internal debt and the role for the World Bank and the IMF
    • Pros and cones of privatization
    • Globalization and changing role of the state
    • Environment and sustainable development.
    • WTO and the new round of talks; regional trading foreign finance, investment and aid
  • EC445: Institutions and Development
    • Individuals, organization, Institutions and state
    • Interaction among individuals and institutions
    • Law, police, property rights and financial development
    • Governance and economic growth
    • Institutions, conflict resolution and decision making
    • Role of state institutions in economic development
  • EC-449 Viva Voce Examination
    The Viva voce examination will be based on compulsory courses and current issues at the national and international levels.
  • Option 1
  • Option 2
General Courses
  • EC271: Culture and Religions in International Relations
    • The Cultures, Religions and Civilizations in World Politics
    • Identity, the Politics of Recognition and Multiculturalism
    • The Return from Exile? Religion and Secularization in International Relations
    • Religion, Violence and Security
    • Civilizations and the Clash and Modernity
    • The Post-Colonial World between Orientalism and Occidentalism
    • Politics of Cultures, Religions and Civilizations
    • The Implications of Civilizational Dialogue for World Order and Global Justice
  • EC272: General Science
    • Basics of chemistry: atoms, elements and molecules
    • Properties of chemicals
    • Basics of Physics: Energy, forces and mechanics
    • Electricity and magnetism
    • Sound and light
    • Planets, space and time
    • Life and its evolution
    • Plants and animals
    • Human body
  • EC273: International Relations
    • Importance and scope of international relations
    • Theories of international relations: systems approach, Morganthau’s realist theory, decision-making approach, Marxian approach
    • Imperialism and colonialism
    • De-colonization and resurgence of Asia and Africa
    • Neo-colonialism
    • National power
    • Balance of power
    • Determinants of foreign policy: ideology, diplomacy, collective security, arms race, disarmament and arms control
    • War, cold war and non-alignment
    • Contemporary trends in international relations
    • New international economic order
    • Regionalism, globalization and foreign policy choices
    • Theories of peace and conflict
    • Trade, environment, ethnicity and peace/conflict
  • EC274: Introduction to Geography
    • The atmosphere and its composition
    • Atmospheric pressure, winds, weather and circulation of the atmosphere
    • The horizontal and vertical distribution of temperature
    • Humidity and precipitation
    • Ocean: salinity, temperature, waves, tides, currents
    • Deposits on the ocean floor
    • Coral reefs and islands
    • The land and earth’s crust
    • Earth movements, shore lines, deltas and estuaries
    • Earth sculpture
    • River-systems, underground water, snow and ice
    • Climate and topographical features
    • Volcanoes and lakes
  • EC275: Introduction to Indo-Pak History
    • Background of independence
    • Kashmir conflict
    • Early experience of democracy and Pakistan’s foreign policy in the 1950s
    • Military takeover and Indo-Pak war of 1965
    • Indo-Pak war of 1971 and breakup of East Pakistan
    • Brief Period of democracy in the 1970s
    • Military takeover, Afghan war, Talibanization and spread of drugs
    • Controlled democracy in the 1990s, role of IMF, atomic detonation and debt crisis
    • Military takeover, 9/11 event and inflow of foreign money
  • EC276: Introduction to Law
    • Definitions and scope of law
    • State and law
    • Source of law: Western, legislation, precedent, custom and religion
    • Classification of law: types of law, public and private law
  • EC277: Introduction to Logic
    • Concept and scope of logic as science and art
    • Laws of logic
    • Induction and its characteristics
    • Categorical propositions and classes
    • Quality, quantity and distribution
    • Square of opposition
    • Immediate inferences, conversion, obversion, contraposition, inversion
    • Existential import
    • Symbolism and diagram for categorical propositions
    • Three basic uses of language
    • Discourse serving multiple functions
    • Kinds of agreements and disagreements
    • Purpose and types of definitions and meanings
    • Form, nature and exposition of syllogism
    • Rules, fallacies, ambiguities and dilemma
    • Translating categorical propositions into standard form
    • Uniform translation
  • EC278: Introduction to Sociology
    • Introduction and Basics: sociological perspective, development of sociology, role of values in social research, sexism in early sociology, theoretical perspective in sociology
    • Culture: components of symbolic culture, sub-cultures and countercultures, cultural universals, animals and cultures, technology and global village, sociology and new technology
    • Socialization: social development of self, mind and emotion, gender, social structure, social institutions and interaction
  • EC279: Numbers System
    • Number systems
    • Characteristics and importance of specific numbers
    • Numbers and nature
    • Numbers, music and art
  • EC280: Principles of Accounting
    • Introduction to accounting: purpose and nature
    • Various areas of accounting
    • Accounting information users
    • Business transactions and accounting equation
    • Accounting process: recording changes in financial position, double entry accounting system, journal ledger, trial balance
    • Accounting cycle: measuring business income, adjusting process, completion of accounting cycle, worksheet, financial statements
    • Bank transactions and reconciliation: accounting for receivables, accounting for inventory, accounting for depreciation of fixed assets, depreciation methods
    • Accounting practices in public and private organizations
    • Accounting and Auditing
  • EC281: Principles of Management
    • Evolution of management theory
    • Ethics, social responsibility and external environment of organizations, planning and decision making
    • Strategic planning, problem solving and decision making
    • Operations management and productivity
    • Organizing for stability, change and coordination
    • Organizational design, authority, delegation, and decentralization
    • Staffing and human resource management
    • Managing organizational change, development and conflict
    • Creativity, motivation, performance and satisfaction
    • Leadership, groups and committees
    • Interpersonal and organizational communication
    • Entrepreneurship and financial control methods
    • Managing legal aspects
  • EC282: Principles of Political Science
    • Development of human society and the scope of political science
    • Origin and evolution of state
    • Purpose and of sphere of the state
    • Theories of state
    • State and society nexus
    • Changing concepts of political science and its current trends
    • The political methods and principle
  • EC283: Principles of Psychology
    • Introduction and methods of psychology
    • Schools of Psychology: observation, case history method, experimentation, survey and Interviewing methods
    • Characteristics and functions of sensations: reception, structure and functions of the eye and ear
    • Perception: nature and factors of perception, subjectivity and objectivity, special and temp[oral perceptions
    • Attention: subjective and objective attentions: distance and span of attention
    • Motives: definition, nature and classification: primary (biogenic) and secondary (sociogenic)
    • Emotions: definition, nature and theories
    • Learning and memory: definition, types, tools and process
    • Thinking: definition, types and tools, problem solving; decision making; reasoning
    • Personality: definition and development of personality; biological and environmental factors
Language Courses
  • EC260: Arabic
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC261: Chinese
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC262: French
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC263: German
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC264: Italian
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC265: Persian
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC266: Russian
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
  • EC267: Spanish
    • Alphabet, make up words and phrases, reading and writing, with special emphasis on unfamiliar sounds
    • Greetings and introductions
    • Forms of titles and address in the feminine and masculine
    • Talking about oneself and one’s family
    • Expressing thanks, and making requests
    • Learning numerical, the time and counting
    • Etiquette in private and public places
    • Daily routines: work, shopping, leisure
    • Basics of grammar
    • Key vocabulary
    • Reading, writing and speaking
    • Practical drills to learn reading and writing
    • Listening comprehension
    • Drills of unfamiliar alphabet
    • Insight into cultural differences between regions where the language is spoken
Optional Courses
  • EC451:Real Analysis
    Specialization
    • Economics
    Detail
    • Real numbers system
    • Algebra of sets
    • Set of real numbers, its continuity, differentiability
    • Integrability of the set of real numbers
    • Euclidean space
    • Differentiability of Euclidean space
    Integrability of Euclidean space
  • EC452:Game Theory
    Specialization
    • Economics
    Detail
    • Definitions and rules of games;
    • Games in normal extensive forms;
    • Games with perfect certain, symmetric and complete information;
    • Mixed and continuous strategies;
    • Dynamic games with symmetric and asymmetric information;
    • hidden action, hidden information, moral hazard and adverse selection;
    • Principal agent models and signaling;
    • Bargaining, auction and industrial organization.
  • EC455:Labor Economics – I
    Specialization
    • Economics
    • Development Economics

    Detail
    • Overview of the labor market and labor market indicators
    • Demand for labor under alternative market structures
    • Supply of labor in static and dynamic frameworks
    • Household production; investment in human capital; education and training
    • Workers’ mobility and migration
    Structure of wages and trade unionism
  • EC456:Labor Economics – II
    Specialization
    • Economics
    • Development Economics

    Detail
    • Discrimination in the labor market and group differences by gender, race and ethnicity
    • Compensating wage differentials
    • Human capital theory and economics of the family
    • Issues of unemployment and social protection
    • Efficiency wage theories and co-ordination failure
    • Labor market statistics and labor market information system (LMIS)
    • Labor policies and labor legislation in Pakistan

  • EC457:Human Resource Development
    Specialization
    • Economics
    • Development Economics

    Detail
    • Economic growth and human resources
    • Human capital model and empirical evidence
    • Health, nutrition and productivity
    • International and internal migration and economic development
    • Measurement and evolution of human development index
    • Review of human development frameworks in human development reports
    Comparative human development experiences with special emphasis on Pakistan
  • EC458:Population Economics
    Specialization
    • Economics
    • Development Economics
    Detail
    • Economics of the population
    • Malthusian theory and population dynamics
    • Demographic composition of the population; age and gender structure
    • Fertility; quantity/quality trade-offs and female employment
    • Mortality and economics of ageing
    Pakistan’s experience with demographic trends and population policies.
  • EC459:Poverty and Income Distribution
    Specialization
    • Economics
    • Development Economics

    Detail
    • Alternative concepts of poverty and equity
    • Issues in the measurement of poverty and income distribution
    • The role of public sector and non-public entities in poverty reduction and equity
    • Measures of tax progressively
    • Poverty and inequality in global context
    • Empirical literature on Pakistan and other less developed countries
  • EC460:Industrial Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Overview of market structure
    • Models of oligopoly and monopolistic competition
    • Cooperative and non-cooperative oligopolies
    • Product differentiation, non-price competition and strategic behavior
    • Monopoly power and price discrimination
    • Information, advertising and disclosure
    • Externalities, scale and scope economics
    Vertical interrogation and technological change
  • EC461:Industrial Organization
    Specialization
    • Economics
    • Development Economics

    Detail
    • Scope and methods; structure, conduct and performance
    • welfare economics of competition and monopoly
    • Determinants of market structure
    • Economic theories of oligopoly pricing
    • Price monopoly and oligopoly structure
    • Induced innovations and patenting
    • Takeovers, franchising, product variety
    • Administered prices and macroeconomic stability
    • Product variety; product differentiation
    • Market structure and competition
    • Industrial location choice
    Policy towards monopoly and oligopoly
  • EC462:Economic Growth
    Specialization
    • Economics
    • Development Economics

    Detail
    • Theories of economic growth: Harrod-Domar model, neo-classical growth theory, Kaldore model, Marxist model, Malthusian model
    • Two sector models of economic growth
    • Cambridge growth controversy
    • Technological change in Herrod-Domar, neo-classical and Cambridge settings
    • Models of endogenous growth: human capital, knowledge, learning and externality in growth.
    Growth accounting and growth empirics
  • EC463:Monetary Economics
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Functions of monetary authority
    • Definitions of money and monetary aggregates
    • Theories of money demand
    • Determination of money supply
    • Role of money in macro models
    • Conduct of monetary policy (goals, instruments, targets and indicators) and the central bank
    • Money, inflation and employment
    • Money market instability and economic performance
    • Money seigniorage and welfare
  • EC464:Monetary Policy
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Methods of controlling money and interest rates
    • Pegging money supply versus interest rate in closed economy and money market intervention rules under alternative
    • Money market intervention in an open economy
    • Central bank’s autonomy
    • Money as producer or consumer good and monetary policy in growth context
    • Core inflation and the role of monetary authority
    • Cost of fighting inflation
  • EC465:Financial Theory and Capital Markets
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Theoretical and empirical examination of saving investment and financing; asset structures
    • Stock prices and interest rates
    • Financial intermediaries
    • Speculation and interrelationships of financial and real variables in the economy

  • EC466:Financial Markets and Institutions
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Introduction to the financial system, intermediaries and institutions.
    • Money and Money markets
    • Interest Rates and Bond Markets
    • Equity markets
    • Portfolio theory
    • Foreign exchange markets
    Derivatives markets
  • EC467:Money, Banking and Finance
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Overview of the financial system
    • Role of financial institutions (banking and non-banking) and the central bank in financial markets
    • Determination of interest rates and the yield curve
    • Financial assets and rates of return
    • International financial markets and the domestic financial sector (institutions and policies)
    Issues of financial regulation
  • EC468:Financial Risk Management
    Specialization
    • Finance and Economics
    Detail
    • Introduction to risk management,
    • Financial failure
    • Classification of financial risks
    • Current trends in risk management
    • Derivatives: options, futures, swaps, and standard hedging techniques
    • Market risk: VaR (value at risk) measurement (historical, and Monte Carlo approaches), back-testing, stress testing, other risk measures
    • Liquidity risk
    • Credit risk
    • Operational risk
    • Long Term financial Planning and financial risk
    Term Structure of Interest Rates and cost of capital
  • EC469:Financial Derivatives
    Specialization
    • Finance and Economics
    Detail
    • Introduction to derivatives, main types of derivatives, Derivatives markets
    • And Derivative pricing
    • The market for forward and futures and the futures price
    • The market for swaps
    • The market for options and the put-call parity
    • Trading Strategies Involving Options
    • Interest Rate Futures
    • Binomial Trees
    Valuing Stock Options Using the Black-Scholes Model
  • EC470:Portfolio Management
    Specialization
    • Finance and Economics
    Detail
    • Introduction to Portfolio Theory: Risk and Return
    • Concept of Mean-Variance Portfolio Analysis
    • Portfolio selection with and without short selling
    • Single and multi index models
    • Portfolio selection and institutional restrictions
    • Market Equilibrium and Portfolio Performance
    • Gain from pooling investment
    Bond portfolio
  • EC471:Financial Modeling
    Specialization
    • Finance and Economics
    Detail
    • Excel and VBA and their use in financial modeling
    • Modeling the time value of money, bond pricing, risk and return, financial planning and option pricing.
    • Modeling for Corporate Finance Transaction
    • Modeling Cost of Capital
    • Valuation models using Discounted Cash Flow Analysis
    • Capital Structure Analysis
    • Capital Structure, Leverage Ratios, liquidity ratios and interest coverage
    Working capital management, capital budgeting, and inventory policy model
  • EC472:Regulation of Financial Crime
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • Financial crime and the regulation of market abuse
    • Insider dealing and market abuse
    • Fraud and market manipulation
    • Money laundering
    • The purpose of money laundering regulation
    • Money Laundering Regulations
    The efficacy of money laundering regulation
  • EC473:Financial Institutions and Economic Development
    Specialization
    • Economics
    • Finance and Economics
    • Development Economics

    Detail
    • Foreign Aid, the Capital Market, and Financial Repression
    • Informal Credit Markets in Rural Areas, Adverse Selection, and Microfinance
    • Financial Deepening, Inflation, and the Productivity of Capital
    • Financial Liberalization, Deposit Insurance, and Moral Hazard in Banks
    • Financial Restraint, “Market-Enhancing” Rent Shifting, and Government Failure in Finance
    • The Inflation Tax and the Fiscal Deficit
    • Managing Inflation and the Exchange Rate in a Repressed Economy
    • International Financial Liberalization: Growth or Over borrowing
    • The Choice of an Exchange Rate Regime
    Institution Building and Economic Reform
  • EC474:Islamic Banking
    Specialization
    • Economics
    • Finance and Economics

    Detail
    • Introduction to Islamic financial system
    • Concept of sales in Islam
    • Islamic financial products
    • Deposit and financing in Islam
    • Structure of Islamic banks
    • Governance of Islamic banks
    • Islamic insurance
  • EC475:Public Finance
    Specialization
    • Economics
    • Finance and Economics
    • Development Economics

    Detail
    • Role of public sector in economics;
    • Theories of public goods,
    • Externality and congestion;
    • Distribution, equity and economic welfare;
    • Politics of social choice,
    • Benefit-cost analysis and public expenditure evaluation principles;
    • Positive and normative analysis of taxation;
    Informal and black economy.
  • EC476:Fiscal Policy
    Specialization
    • Economics
    • Finance and Economics
    • Development Economics

    Detail
    • Role of public sector in macroeconomics stability
    • Economic growth, poverty, reduction and equity
    • Overlapping generations models, social security pensions and governments bonds
    The analysis of budget deficits, internal and external borrowings and debt dynamics
  • EC477:Cost Benefit Analysis
    Specialization
    • Economics
    • Finance and Economics
    • Development Economics

    Detail
    • Techniques of cost-benefit analysis of investment projects
    • Uses of shadow prices
    • Problems of estimating benefits in highway, irrigation, power and other projects
    • Measurement of benefits and costs
    Alternative basic criteria for cost-benefit analysis
  • EC478:Natural Resource Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Non-renewable and renewable natural resources
    • Imperfect competition in natural resource markets
    • Optimal allocation of scare natural resources
    • Economic valuation and evaluation
    • Hedonic models
    • Input-output analysis, technology and environment
    • Computable general equilibrium (CGE) models and natural resources
    Natural resource accounting.
  • EC479:Energy Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Basic concepts
    • Structure of energy supply systems
    • Energy markets
    • Investment and decision making techniques
    • Dealing with risk in energy markets
    • Internalizing externalities in energy supply
    • Cost-benefit analysis in energy sector
    • Taxation of the energy sector
    • Public enterprises and energy supply
    • Natural monopolies in the energy sector
    • Open access and the regulation of monopoly
    The economics of renewable energy
  • EC480:Environmental Economics
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • Benefits and costs of environmental resources
    • Economic efficiency and equity in market for environmental resources
    • External costs and benefits
    • Environmental pollution and control mechanisms
    • Environmental impact analysis, economic impact analysis; benefit-cost frame work of environmental analysis
    • Criteria for evaluating environmental policies
    • Property rights and moral suasion; command and control strategies and the case of standards
    • Incentive bases strategies and emission taxes and subsidies;
    • Global environmental problems
    Role of international environmental treaties in control of global pollution
  • EC481:Global Environmental Governance
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • Historical evolution of global environmental governance and key actors
    • Key concepts, practices and theories in global environmental governance:
    • Global commons – climate and ozone
    • Transboundary issues: toxics and biosafety
    • The interface of global economic and environmental governance.
    • Trade and environment
    • Multilateral environmental funding mechanisms
    • Private governance and market-based initiatives for the global environment
    • Civil society and individual responses to global environmental problems
    Institutional reform
  • EC482:Trade and Environment
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • protection of natural resources through
    • unilateral trade-based measures
    • the legality of multilateral environmental agreements
    • employing trade measures
    • utilization of science-based trade tests
    • environmental impacts of foreign investment liberalization
    the major international trade agreements and institutions, such as GATT, NAFTA, the World Trade Organization
  • EC483:Agricultural Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Role of agriculture in economic development
    • Production, cost and, profit functions
    • Technical change in agriculture and the green revolution
    • Employment in agriculture
    • Land tenure systems and land reforms
    • Irrigation and water management issues
    • Agricultural input prices
    • Support and procurement prices
    • Agriculture and environment
    Agriculture and trade negotiations
  • EC484:Forestry Economics
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • Introduction to Economics and Forest Economics
    • The Economic Importance of Forests
    • Wood Recovery Considerations in Logging
    • Valuation of Non-Timber Forest Products
    • Valuation of an area of forest land for timber production
    • The Financial Analysis of Forestry
    • Use of forestland to be organized to maximize net benefits to the people
    • Property Rights in the Forests
  • EC485:Rural Development
    Specialization
    • Economics
    • Finance and Economics
    • International Economics
    • Development Economics

    Detail
    • Economic issues of rural development
    • Social and political issues of American rural development
    • Environmental issues of rural development
    • Rural development and the role of planners
    Mobility, Vulnerability and Sustainability
  • EC486:Urban Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Urbanization; urban system analysis
    • Provision of urban social and public services
    • Role of small and intermediate cities in national development
    • Optimal size of cities
    • Rural economy crises; migration and linkages; urban form
    National urban development strategy
  • EC487:Regional Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Spatial and economic structures of regions and regional economic development
    • Measurement of regional economic activity
    • Theories of location of industries
    • Theories of inter-regional economic growth
    Regional policy alternatives
  • EC488:Transport Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Transport and economic development
    • Road congestion, its measurement, cost: Theory and practical issues
    • Theories of economic regulation in transport industries
    • Public interest and internal group or capture theories of transport subsidies
    • Pareto optimality and the problem of second-best in transport subsidies
    • Cost-benefit analysis in transport sector
    BOT projects: Theories and applications
  • EC489:Health Economics
    Specialization
    • Economics
    • Development Economics

    Detail
    • Positive and normative analysis of health care market
    • Health insurance, information asymmetry, moral hazard adverse selection and principal-agent issues in health economics
    • Issues in benefit-cost analysis of health care sector
    • Health care planning and the role of public sector
    • Health, human capital development and economic growth
  • EC490:History of Economic Thought
    Specialization
    • Economics
    • Development Economics
    Detail
    • The medieval economic system
    • Mercantilism and Physiocrats
    • The classical economics
    • Marxian tradition and marginalism
    • Neo-Classical economics
    • Keynesian revolution
    New Classical and New Keynesian economics: New methods and scope of controversy
  • EC491:Comparative Economic Systems
    Specialization
    • Economics
    • Development Economics

    Detail
    • Historical development of capitalism
    • Definitional problems
    • Behavioral hypotheses of entrepreneurs
    • Free enterprise and its implications
    • Command economy
    Administrative hierarchy.
  • EC:492 Islamic Economics
    Specialization
    • Economics
    • Economics and Finance
    • Development Economics
    Detail
    • Meaning and scope of Islamic economics
    • Difference of Islamic economic framework from western and socialist economics
    • Features of Islamic economic system
    • Concept of ownership and its limitations
    • Guiding principle for consumption, production, investment commerce and trade
    • Institution of zakat and its social and economic implications
    • Interest free banking and the concept of equitable distribution
  • EC493: Political Economy
    Specialization
    • Economics
    • Development Economics
    Detail
    • Link between economics and politics
    • Economic equilibrium in a society
    • Gains from multilateral exchange
    • Classical market theory and economic policy
    • Marxian political economy
    • Government intervention in the market and growth of public sector
    • Fiscal federalism and decentralization
    • Economics of international political economy
    • International economic competition
    • Globalization and the world economy
    • International economic system and issues.
  • EC494: Political Economy of Pakistan
    Specialization
    • Economics
    • Development Economics
    Detail
    • Introduction and basic theory of political economy
    • Rural elite and agricultural development in Pakistan
    • The pattern of adoption of new technology
    • Technical change and social polarization
    • Urban elite and industrial development
    • Development of small and large scale industry and the role of State
    • Political economy of foreign aid and debt, its motivation for donors and recipients and the effects on the economy of debt
    • Globalization and its effects on the economy of developing countries, especially Pakistan
  • EC495: Law and Economics
    Specialization
    • Economics
    • Development Economics
    Detail
    • Application of economic analysis to the law
    • Property rights, taking the Coase Theorem
    • The economics of regulation
    • Crime and punishments
    • Liability law
    • Public choice
    • contract law and the law of corporations merger/take-overs
    • Personal and corporate bankruptcy
  • EC496: Economic Issues in Pakistan
    Specialization
    • Economics
    • Development Economics
    Detail
    • Pakistan’ development experience
    • Agricultural development, agricultural pricing policies and rural development
    • Industrial development; policy and issues
    • Issues in employment
    • Resource composition and mobilization in Pakistan: problems and prospects
    • Issues in internal and external migration
    • Composition and growth of informal sector
    • Evolution or involution
    • Income distribution and poverty in Pakistan
    • Foreign aid and debt burden
    • prospects and policy stand
    • Privatization: experience, future