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Bachelor of Science – (Economics)

Bachelor of Science in Economic consists of 135 Credit Hours.

This program is designed for students who plan to become analysts, advisors and economists in the public and private sectors. It could lead to careers in business, finance, international development, human resource management, marketing, management and research. Through this program, individuals would acquire knowledge about how the economy works – and why sometimes it does not. It focuses on choosing the best way to use resources like money, people, land, or machines. The study is instrumental to understand business, markets, trade, government policies, international issues, recessions, unemployment, inflation, globalization, distribution of income and economic growth. Students also learn how to analyze complex questions related to business, government and non-government organizations at micro and macro levels.

Foundation Courses
(Placement in this course is subject to the result of the University Placement Test) This course focuses on all four skills: reading, writing, speaking and listening in general, and writing in particular at elementary level. With an ordered and integrated approach, the course strengthens students’ communicative competence in the English language. The learners are expected to be users of the language in informal as well as formal contexts with a sense of accommodation for new ideas.
(Placement in this course is subject to the result of the University Placement Test) This course focuses on understanding of the English language to prepare the students at intermediate level of language skills including reading, writing, speaking and listening.
(Placement in this course is subject to the result of the University Placement Test) This course is designed to strengthen the basic concepts of preliminary set theory, algebra, trigonometry, analytical geometry and statistics. The course enables the weak students in mathematics to take advanced courses of mathematics and statistics.
Module I
This course introduces students to information and communication technology in a business environment and builds a foundation of digital literacy skills necessary for success in a technology driven society. Students develop skills in word processing, spreadsheet, database, desktop publishing, presentation software, and website designing. Throughout the course, the emphasis is on digital literacy, effective electronic research and current issues.
The course gives a broad overview of ancient Greek, Roman and Medieval Economic thoughts including feudalism, mercantilism, naturism, circular flow etc. It also covers classical school, socialism, Keynesian, and post-Keynesian schools.
A course in reading, writing, reflection and discussion, emphasizing rhetorical analysis and strategies for focusing, developing, and organizing writing. Special attention is also given to strategies for writing, revising and editing. In all, the course implies a general introduction to the principles of writing with emphasis on writing process, thesis, context, purpose and audience.

This course aims to familiarize students with the principles of making different kinds of oral presentations and speeches. Students study how to make an outline, collect data and organize it to develop clarity. After generating ideas and finalizing topics, the students deliver speeches and learn to manipulate body language, tone, voice variation, etc. Gradually, the students gain confidence and overcome the fear of public speaking.
A comprehensive history of Pakistan is taught starting from pre- independence period. The second part of the course focuses on the basic Islamic concepts.
Mathematics is an integral part of business studies. In this course the quantitative skills of students are improved. To achieve this goal, we provide presentation of the mathematical principles, techniques, and applications most commonly used in business, economics, management sciences, and social sciences.
Module II
This course gives an overview of the social system, economy as integral part of the social system, economic agents and economic problems, basic concepts such as commodities, income and resources, production and consumption, exchange and distribution. It also covers the price mechanism of firms, consumer behavior, and industries, production and cost functions and market structure.
It gives an overview of economic and social systems, basic concepts such as income & resources, production and consumption, exchange & distribution. It also covers price mechanism of firms, consumer behavior and industries, production & cost functions, market structures, and in-depth analysis of demand and supply.
The course is designed for senior students having gone through some basic course in economic theory and development economics. The students learn the Islamic injunctions ordained for economic behavior, both in the individual as well as collective capacity. It also covers, Islamic economic thought, Islamic framework, and Islamic economic system.
This course aims at helping students to understand the importance of effective interpersonal communication in initiating, developing and sustaining the various aspects of interpersonal relationship in personal and professional lives. It helps them to interact conveniently and freely with people of different strata of society.
The course is a prerequisite to Statistical Inference course. This course covers probability theory, measure of central tendency, dispersion variance, regression and correlation analysis, etc.
Module III
In this course, students study concepts of inflation and unemployment, macroeconomic variables and their mutual relationship. It also covers national income, components of aggregate demand, money and banking, public finance and taxation, international trade, etc.
The course is designed to enable the students to use mathematical skills to clarify their economic concepts and solve problems. This is because economic analysis requires extensive use of mathematics in the present day of world complexity. Mere logical reasoning and diagrammatic approach is perhaps not sufficient. As such, the students of economics have to learn and apply mathematics alongside their theoretical underpinnings. It also covers the nature of mathematical economics, equilibrium analysis, linear models and matrix algebra, differentiation, economic applications of differential calculus, linear programming
The course covers the economic functions and public goods, allocation of resources, redistribution of income and wealth and stabilization and pricing public goods. It also covers, public revenue and taxes, the theory of public goods, distributional equity in taxation, tax structure of Pakistan, fiscal policy and public expenditure and budget.
The course helps students to develop their business writing skills in letter writing, memo writing and to familiarize students with the purpose, format, classification, planning and organization of commercial correspondence.
The course presents hypothesis testing, analysis of variance, regression and correlation analysis, multiple regression, non parametric tests and statistical decision making. This course fulfills the pre-requisite requirement of Business Research Methods for undergraduates, and Advanced Business Research Methods for graduate students.
Module IV
The objective of the course is to clarify and extend further the microeconomic concepts and to develop analytical and problem-solving skills. In addition to diagrammatic approach, the students get accustomed to simple mathematics and numerical tools. It also covers theory of consumer behavior, demand and elasticity, production functions, cost of production, behavior of the firm, the perfectly competitive market, monopoly, monopolistic competition and oligopoly, pricing of the factors of production, etc.
Report writing is an essential part of communication in a business environment. The course is a blend of theory and practice. Various types of reports, their purpose, planning and writing are the key features of this course. The course is student-centered by nature as it provides ample opportunity to the students to compose reports on different topics in simulated business contexts.
The course equips the students with basic concepts of finance. All the business decisions are ultimately measured in financial terms; as such understanding of the core concepts of finance will provide a foundation for further study and knowledge and will help in future career opportunities. Additionally, some of the basic quantitative techniques and analytical tools learned in the process will help the students in taking financial decisions in an organizational framework.
The objectives of this course are to sharpen intellect of the students, develop their reasoning ability, strengthen their understanding, and promote clear thinking. The course also focuses on enabling students to distinguish sound reasoning from fallacious reasoning.
The course concentrates upon the impact of social, political and legal systems on business process with main thrust on the legal environment in business and topics such as company laws, consumer-environment relationship between businesses, government and society and more specifically on the changing environment of business.
Module V
This course deals with the various aspects of human resources and organizational behavior, nature of organizations and managerial work, diversity and individual differences in organizational behavior, motivation in organizations, performance management and awards, stress and its nature, impact and management and organizational change and development.
The objective of this course is to clarify and extend further the concepts of macroeconomics as they develop the capacity to understand the issues and problems of the economy in a global scenario. In particular they have to capture the nature and scope of various public policies. In addition to diagrammatic approach, the students are confronted to simple mathematical and numerical analyses. It also covers measurement of national income, theories of consumption, saving and investment, demand for and supply of money, determination of national income, aggregate supply and labor market, inflation and unemployment.
This course explores economic development and growth, scope and significance of development economics. It takes historical overview of world development and emerging major issues pertaining to Less Developed Countries (LDC’s). It also covers the major theories of development, agriculture and industry, population, education and human capital.
The course includes agriculture evolution, importance of agriculture, food safety, agricultural vs industrial development debate, current state of agricultural development, brief overview of sources of growth issues in agriculture, etc. It also covers 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 agriculture, and supply response, populations and food supplies.
It will introduce the students to the study of human mind and behavior by researching and establishing both general principles and specific cases. In this, they will explore concepts such as perception, cognition, attention, emotion, personality and behavior, brain functioning and interpersonal relationships
Module VI
The course analyzes the problems of the real economy that cannot be described within the framework of a classical economic theory that is taught by traditional micro- and macroeconomics. This covers all the three main fields of industrial organization theory: the theory of firm, the theory of imperfect competition, and the theory of economic regulation. The students are presumed to be familiar with the standard courses in micro-and macroeconomics at the graduate level.
This course discusses the impact of monetary policy on individual behavior and the macro economy. It includes evolution of money payment system, demand and supply of money, the role of money in the economy. It also covers the conduct of monetary policy like: central bank, money & interest rates, money and inflation, and monetary policy in international frame-work.
The course gives an overview of the social system, economy as an integral part of the social system, economic agents and economic problems such as income and resources, production and consumption, inflation, unemployment, national income and aggregate demand.
In this course, students will learn multi-variable calculus (including the use of implicit functions), formal treatment of comparative statistics, optimization and the role of concavity/convexity, the theory of optimization with equality constraints, optimization with inequality constraints, differential and difference equations, systems of differential equations, value functions and envelope theorems.
The course focuses on the nature and scope of managerial economics, managerial decision-making process, theory of the firm, profit maximization, cost minimization, economic optimization and incremental concept in economic analysis.
Module VII
This course introduces the key sectors of economy of Pakistan and contemporary issues in agriculture, industry, financial and social sector. Also it highlights current policies in trade, commerce, fiscal policy, etc.
This course offers a systematic presentation of consumer theory, theory of the firm, and market equilibrium. Topics include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics. These concepts are then applied to various policy issues including price and quantity regulation, taxation of labor and capital, income distribution, and the minimum wage.
In this course students study the changing world and interdependence: basis of trade, gains from trade, absolute advantage, comparative advantage, overview of comparative advantage and pattern of trade. It also covers offer curves and free trade equilibrium, disagreements on free trade and overview of emergence of international trade issues.
The course is designed for senior under-graduate students focusing on more quantitative studies. The objective is to enable the students to understand complex problems of economics. They have to understand data problems, to have good grasp over advanced estimation techniques and to have the capability of inferring results accurately. The students are also taught computer package SPSS.
The course is designed to introduce students to various aspects of business research methods and to apply the various techniques of research to the real world of business. This course covers topics such as the role of business research, scientific inquiry, beginning the research process, the hallmarks of scientific investigation, research proposal development, evaluation fundamentals of research design, foundations of measurement, primary data collection, secondary data collection, scaling and instrument design, and sampling design.
Module VIII
It comprises 06 credit hours, and the rationale of research is to give awareness about research to the students in their professional as well as their personal lives. It also introduces quantitative and qualitative paradigms of research.
The course covers development planning and resource mobilization, agriculture and industrial development, employment pattern and unemployment, poverty and income distribution, inflation, and foreign trade deficit. It also discusses economic issues from 1950’s to present day.
This course analyzes the impact of fiscal policy on individual behavior and the macro economy. The goal of this course is to develop and use a dynamic theoretical model of individual decisions and study how government tax and transfer policies, government debt and deficits affect these decisions.
This course is an introduction to world history. By tracing social, economic, Political, and cultural developments, the course explores the past while finding its relevance to the present. The emphasis is laid on global perspective, looking at the ways in which people and societies have been connected through time.
International relations is the study of relationships between countries, including the roles of states, intergovernmental organizations (IGOs), international non-governmental organizations (INGOs) non-governmental organizations (NGOs) and multinational corporations (MNCs). It is both an academic and public policy field.
Module IX
It comprises 06 credit hours, and the rationale of research is to give awareness about research to the students in their professional as well as their personal lives. It also introduces quantitative and qualitative paradigms of research.
This course discusses the impact of economic systems on individual behavior and the macro economy. In depth evaluation of Capitalism, Communism and Socialism, Economic System of Islam and economic system in Pakistan is carried out.

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Start On 2018-08-27
Duration 4 Years
Level Beginner
Total Credit Hours 135 CREDIT HOURS
Degree Under Graduate

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