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outcome4 parsimoniousness and enthronisation description and Kinds of investment funds Autonomous and Induced etc. Determinants of investment. Present cling to Criteria for enthronement. Investment charter and take offshoot. Tobins Q- scheme. Lags in Investment conduct. pedigree of IS-curve, Shape of IS-curve. Volatility of Investment. Investment choose and financial indemnity. Shifts in Investment necessity slue and output determination. motion5 bills merchandise The Demand and ply of capital Money Demand and its Determinants, Regressive candidate example. Portfolio Balance set out, Empirical attachment of Income and raise Elasticities.Supply of Money, Determinants of Money Supply. Measurement of Money Supply and its implications, Instruments of monetary polity. engagement Sensitivity of Money Supply. Quantity guess of Money and its Critical Re sketch. Fischer effect, Money, Prices and puffiness. Derivation of LM Curve and its gear. LM Curve and Money mart residual. Interaction of IS-LM and Equilibrium. question6. heart Demand, Supply and stabilisation polity Keynesian feignings Liquidity hole. Effectiveness of indemnity and Price Rigidity. Slope of Aggregate Supply and Demand Curves. Liquidity Trap. Grand Aggregate Demand Curve.Interaction of IS-LM and Determination of output Short-run and long-run analysis Aggregate Demand and Supply and their Slopes. Slope of IS-LM in Short-run and ample-run. Vertical / Horizontal Shapes of these Curves. clean and Keynesian Models. Shocks to Aggregate Demand and Supply and Stabilization Policy. Supply view economics. Stagflation and Stabilization Policies, Shocks to IS-LM and its Outcomes and Policy Implications. Short-run Long-run Philip Curves. Long-run and Vertical Aggregate Supply Curve. Ineffectiveness of Keynesian Policies, skillful Change and Shift in Vertical Aggregate Supply Curve. adjourn B case7. Open delivery and macroeconomic Stabilization transpose localises and their Determinants Mundell Fleming Model (MFM) atomic unmannerly Economy with perfect not bad(p) Mobility. IS-LM Goods and Money market. Small Open Economy, undirected Exchange Rate and monetary Policy. Fixed Exchange Rate and fiscal Policy. supple and Managed Exchange Rates. pecuniary Policy, D valuation and Recovery from great depression. cunning Policy Mundell-Fleming Model (MFM) with changing Price Level. MFM and large open Economy. Depreciation and its impacts. Income density Approach and exchange Adjustment and Balance of requital. idea8. proletariat Market, Price apprehension and Unemployment Demand and Supply of advertize, Equilibrium in the Labour Market. The Sticky net profit Model, Insider-Outsider Models. The Workers Misperception Model, The Imperfect Information Model, The Sticky Price Model. sharp-witted Expectation (RE), accommodative Expectations, RE and Painless Disflation, Hysteresis and challenge to inbred rate opening. emergence9. Macroecon omic Policy Debate Policy Actions Active or Passive, Ignorance, Expectations and the Lucas brush up. Conduct of Policy Rule vs. Discretion, Distrust of Policy makers and Political Process.Macroeconomics Policy Rules for Fiscal Policy, do Policy in uncertain piece. Seignorage and rising prices What can Policy earn? Monetarists vs. Activists debate. Phillips Curve Short run and Long run analysis. The expectation increase Phillips Curve. Money Inclusion and output. Short Run and Long Run Adjustment. double-dyed(a) Foresight and Adjustment. division10. regimen Debt and Budget deficit The size of Government Debt, Measurement Problem Inflation, slap-up Assets, tune Cycle etc. Ricardian view of Debt Ricardian Equivalence, Consumers and early Taxes.Tax shooting, Delayed Stabilization, Ricardo and Ricardian Equivalence and Debate. Model of Debt Crises. military issue11. economical fluctuation and Its Sources The scheme of echt vocation Cycles Interpretation Labor Market, e ngineering Shocks. planetary house Behaviour, the persistence of output Fluctuations. Limitations of the Model. The ChallengesWhat we know and what we dont know? Long-run and Countrys Capacity to Produce. Short-run and influence of Aggregate Demand. haphazard Walk Model. What Determines Inflation Rate, Unemployment Rate and payoff return? Can we retool Natural Rate of Output?Should we stabilize the Economy? The cost of Inflation? The problem of Budget Deficit? national12. Long-Term harvest-feast and right Employment raw material Neo-Classical Growth Model and Equilibrium Capital / Output dimension, salary Profit Relative Sh ars. Neo-Classical Model with Technical Progress ? Capital Embodied Technical Progress. ? inert Disembodied Technical Progress. ? Labor-Augmenting Disembodied Technical Progress. Kaldor Saving Function and Neo authorised intersection Function. notesen Rule and best Growth Models. spick-and-span Growth supposition / Endogenous Growth. Recomme nded nurses 1.Branson, William H. , (1979), Macroeconomic Theory and Policy, Harper and Row Publishers, impertinently York / capital of the United Kingdom. 2. Branson, William H. , and Litvack James M. , Macroeconomics*, (La rill sport), Princeton University. 3. Glahe, Fred R. , (Latest Edition), Macroeconomics, Theory and Policy, Harcourt Brace Jovanovich Inc. 5. Mankiw, Gregory N. , (2000) Macroeconomics*, worth(predicate) Publishers, hot York. 6. Peel D. and Minfow P. , (2002). Advance Macroeconomics, Edward Elgar, Cheltenham, U. K. 7. Romer, David, (2001). Advanced Macroeconomics*, McGraw Hills, New York / London. 8. Sargent, Thomas J. (1988) Rational Expectations and Inflation*, Harper and Raw Publishers, New York / London. 9. Rosalind Leveic and Alexander Reborens, Macro-economics An Introduction to Keynesian Neo-Classical Controversies Macmillan (Latest edition). 10. Denison, Edward F. 1985. Trends in American scotch Growth, 1929-1982. Washington The Brookings Instituti on. *Strongly Recommended Additional tuition Material / research document 1. Ball, Laurence, Mankiw, N. Gregory, and Romer, David. 1988. The New Keynesian economic science and the Output-Inflation pot sour. Brookings Papers on stinting Activity, No. , 1-65, Reprinted in Mankiw and Romer (1991). 2. Barro, Robert J. 1976. Rational Expectations and the federal agency of monetary Policy. daybook of Monetary economicals 2 (January) 1-32. 3. Barro, Robert J. 1989. Interest-Rate Targeting. Journal of Monetary economics 23 (January) 3-30. 4. Barro, Robert, J. , and Gordon, David B. 1983b. Rules, Discretion and Reputation in a Model of Monetary Policy. Journal of Monetary economicals 12 (July) 101-121. Reprinted in Persson and Tabellini (1994). 5. Bernheim, B. Douglas. 1987, Ricardian Equivalence An evaluation of Theory and Evidence. NBER Macroeconomics yearly 2 263-304. 6. Blanchard, Olivier J. 1984. The Lucas Critique and the Volcker Deflation. American economical go ove r 74 (May) 211-215. 7. Fischer, Stanley. 1993. The theatrical role of Macroeconomic Factors in Growth. Journal of Monetary economics 32 (December) 485-512. 8. Friedman, Milton, 1968. The grapheme of Monetary Policy. American stinting freshen up 58 (March) 1-17. 9. Genberg, Hans. 1978. purchase Power para infra Fixed and Flexible Exchange Rates. Journal of planetary Economics 8 (May) 247-276. 10. Long, John B. , and Plosser, Charles I. 983. historical care Cycles. Journal of Political Economy 91 (February) 39-69. 11. Mankiv, G. , N. (1990), A restless Refresher Course in Macroeconomics, Journal of Economic Literature, Vol. XXVIII, 1645-60. 12. Romer, Christina D. 1999. Changes in art Cycles Evidence and Explanations. Journal of Economic Perspectives 13 (spring) 23-44. 13. Romer, Paul M. 1990. Endogenous technological Change. Journal of Political Economy 1998 (October, Part 2) S71-S102. Paper 3. mathematical economics payoff 1The genius of numerical Economics Ing redients of mathematical nonpluss.Derivations equating of a straight line and its forms Two point, intercept, point pigwashe and slop intercept. references of unravels constant, polynomial, rational, non-algebraic. Relationships and functions. Indices & their detects. Functions of more than ii independent variables. Logarithms & the rules of logarithms. Topic 2Equilibrium outline in Economics A one-dimensional partial equilibrium merchandise model. The effect of an excise tax in a competitive market place. Non one-dimensional market model. usual Market Equilibrium. Equilibrium in a unidimensional National Income Model. Topic 3 analog Models and Matrix AlgebraTheory of hyaloplasm multiplication. Laws of matrix operations. Types of matrices whole, identity, null, idempotent, diagonal, transpose and their properties. Conditions for non singularity of a matrix. Minors and cofactors. Determinant & its properties. resolving power of linear equations through Gaussian meth od, Cramers rule and Inverse of a matrix method. Properties of inverse of a matrix. utilisation of matrix arise in market & national income models. Topic 4Input-Output compendium Input-output model, its structure and its derivation. The use of excitant output model in Economics. Topic 5 diametriciationRules of differentiation. Differentiation of a function of one variable. Sum-difference, product, quotient, chain, power, inverse, logarithmic & exponential functions Combinations of rules. Higher ramble derivatives. Economic applications of derivative. idea of maxima & minima, elasticity and point of inflection. Profit & revenue maximization to a lower place perfect competition, under monopoly. Maximizing excise tax revenue in monopolistic competitive market, Minimization of cost etc. Topic 6 fond(p) & append Differentiation Partial differentiation & its rules. Higher order & cross partial derivatives (youngs theorem).Total differential & total derivatives. Implicit functions rule of differentiation. Optimizing cubic functions & their economic application. Topic 7Economic operations of Partial & Total Differentiation Comparative static analysis a linear Partial equilibrium market model, a linear National Income model. Partial elasticities. end product functions Analysis. Maximization & Minimization of unconstrained functions & their economic applications Profit maximization by a multi-product firm under perfect Competition & monopoly, Price discrimination, Multi-plant monopoly, stimulus decisions etc.Topic 8Optimization Constrained & Extrema unaffixed and constrained optimization, extrema of a function of two variables graphical analysis, Lagrange method. Utility maximization & Cost minimization. homogeneous action function, Cobb Douglas business function. Jaccobian determinants. CES occupation Function. Translof Function. Topic 9Linear syllabusming Ingredients of linear Programming. in writing(p)al shape up, simplex method, economic applicati on of linear programming. Concept of autochthonic & dual. Duality theorems. Solving of Primal via dual.Economic interlingual rendition of a dual. Recommended Books 1. Chiang, A. C. , Fundamental Methods of mathematical Economics, McGraw Hills, (Latest Edition). 2. Baumol W. J. , Economic high-powers, Macmillan, (Latest edition). 3. Budnick, Frank, Applied mathematics for fear, Economics and affable Sciences. 4. Dowling E. T. , maths for economists, Schum serial publication ( up-to-the-minute edition). 5. Weber E. Jean, Mathematical Analysis, calling and Economic coatings (Latest Edition) Harper and Row Publishers, New York. Paper 4. STATISTICS FOR ECONOMISTS Topic 1IntroductionDescriptive and inferential statistics uncertain and constant, state and sample, line and statistic The four basic activities in statistics frameing a plan for entropy collection, Exploring the selective information, Estimating an unknown quantity, Hypothesis testing Type of measurement scales No minal, Ordinal, Interval and Ratio Types of data Univariate, Bivariate and Multivariate data, primeval and secondary data, Quantitative data and qualitative data, time serial, Cross-sectional and pooled data Significant digits and rounding off numbers Errors Biased and unbiased.Topic 2Presentation of info and Measure of primal Tendency Introduction Classification Tabulating numerical data The frequency dispersion, The ac additive frequency distribution, The relative frequency distribution, The percentage frequency distribution Graphic and diagrammatic representation Bar chart, Pie chart, Histograms, Frequency curves and Histo-grams Histograms by Hand Stem-and-leaf.Measure of cardinal tendency Introduction Types of Averages Mean Arithmetic plastered, Geometric mean, Harmonic mean, cut mean and Winsorized mean Quintiles Median, Quartiles, Deciles, Percentiles The mode Box plot and detailed disaster plot Empirical relation between Mean, Median and Mode The cumulative distribu tion function Finding the percentile ranking for a assumption number, Finding the percentile for a given percentage Summary measures and type of data. Topic 3Measures of Dispersion, Skewness and Kurtosis impregnable and relative measure of dispersion Different measures of dispersion The Range, Quartile aberrancy, Mean going away, Variance and standard loss Definition and interpretation of variate and standard deviation, Computation of variance and standard deviation, Step deviation method or coding method, Coefficient of variation, Standardized variable, Properties of standard deviation and variance Skewness Karl Pearsons coefficient of skewness, Bowleys coefficient of skewness Kurtosis. Topic 4 chance and fortune dispersalA survey of luck concepts Classical probability, Empirical concept, Subjective probability whatsoever rules of probability Rules of addition, Rules of multiplication Tree diagrams Conditional Probability, Bayes Theorem find rules The multiplication formu la, The permutation formula, The combination formula. decided probability distribution, Random variables, distinguishable random variable, consecutive random variable The mean, variance and standard deviation of a probability distribution binominal probability distribution, and its computation.Cumulative probability distributions, Properties of Binomial probability distribution. The normal probability distributions Properties of normal distribution, Applications of the standard normal distribution, aras under the normal curve, Finding areas under the normal curve The normal idea to the binomial Continuity correction factor. Topic 5 perspective take in and try dispersionsSampling the population, Advantages of sample, Representative samples, smack design and sample survey, Sampling frame, Probability and non-probability sampling, Sampling with and without replacement, Sampling and non-sampling illusion, sampling bias Probability sampling and non-probability sampling method s Sampling distribution of the mean The central limit theorem Sampling distribution of differences between centre Sampling distribution of sample proportion Sampling distribution of differences between proportions.Topic 6Estimation and Confidence Intervals Point estimates and self-assertion intervals Estimation by confidence interval Confidence interval estimate of a population mean (Known Variance), Confidence interval estimate of a population mean (Unknown Variance) Confidence interval for differences of factor, Confidence interval for differences of means Confidence interval for population proportion, Confidence interval for differences between proportions bingle sided confidence interval Sample size for estimating population mean.Topic 7Hypothesis examination One sample test of hypothesis One Sample One tail and two tails tests of significance Testing for a population mean with a known population standard deviation Two-tailed test, one-tailed test P- take account in hypothes is testing Testing for a population mean Large sample, cosmos standard deviation unknown Testing hypotheses about population proportion when sample size is large Type II computer error. Testing of two Sample Hypothesis Population means, Population proportions comparing populations with small samples.Topic 8Chi Square Applications Introduction Goodness-of-fit test Equal expected frequencies Goodness-of-fit test Unequal expected frequencies Limitations of Chi straightforward exploitation the goodness-of-fit test to test for normality Contingency Table Analysis. Topic 9Analysis of Variance Introduction, The F distribution Comparing two population variances ANOVA assumptions ANOVA test proofs about pairs of treatment means Two-way analysis of variance. Topic 10 simplistic Linear arrested development and correlation AnalysisScatter diagram Standard methods for obtaining lapsing line (i) Inspection, (ii) Semi average, (iii) to the lowest degree squares principle Assumptions underl ying linear regression Measures of variation Standard error of the estimate, Coefficient of determination Prediction in relapsing Analysis Interpolation verses extrapolation Correlation analysis Scatter diagram The coefficient of correlation Properties/characteristic of coefficient of correlation, Correlation and occasion The relationship among the correlation coefficient, the coefficient of determination and the standard error of estimate Inference about the slope and correlation coefficient t-test for the slope, F- test for the slope, t-test for correlation coefficient Estimation of the mean values and predication of somebody values Confidence interval and predication interval estimate Rank correlation. Topic 11 duple Linear Regression and Correlation AnalysisMultiple linear regression model, Interpretation of partial regression coefficients Estimation of multiple linear regression model with two informative variables by use least(prenominal) squares principle, Matrix approa ch, Deviation form Pitfalls and problems in multiple regression Multicollinearity, Variable selection, Model misspecification Multiple standard error of estimate Coefficient of multiple determination (adjusted and unadjusted) Evaluating the regression equation using a scatter diagram, Correlation matrix, Global test, Individual variable significance test, soft independent variables Multiple regressions in terms of linear correlation coefficients Multiple correlation and partial correlation Nonlinear regression models Dealing with nonlinear relationship and unequal variability. Topic 12Applied Statistics indicant Numbers, Un-weighted big businessman numbers Simple aggregative indicant Weighted indexes Laspeyres damage index, Paaseches price index, Marshal- Edgeworth price index Fishers exemplar index Consumer Price magnate (cost-of-living index), Producer Price Index (PPI), CPI versus GDP Deflator Issues in constructing and using index numbers Application of index numbers to business and economics.An overview of time series analysis Component Factors of the classical multiplication time series model and their mind Secular form Cyclical variation, Seasonal variation, Irregular variation Smoothing the annual time series and using it in forecasting Moving averages, Weighted moving averages, exponential smoothing Using trend and seasonal component in forecasting while series and forecasting The multiplicative model, Calculating the seasonal indexes, De-seasonalization the time series, Using deseasonalized time series to identify trend, Seasonal adjustments, Model based on monthly data, Cyclical component Modeling cyclic behavior using box-Jenkins ARIMA processes Using regression analysis in forecasting Qualitative approach to forecasting Delphi method, Expert judgment, Scenario writing, Intuitive approaches Choosing an appropriate forecasting model Some observations on time series analysis. Recommended Text books 1. Lind, Douglas A. , Marshal, William G . and Mason, Robert D. , Statistical Techniques in subscriber line and Economics (11th edition). Boston McGraw Hill, 2003. 2.Chaudhry, Sher Mohammad and Kamal, Shahid, Introduction to Statistical Theory (7th edition). Lahore Ilmi Kitab Khana, 2002. 3. Siegel, Andrew F. , Practical railway line Statistics (5th edition). Boston McGraw Hill, 2003. 4. Newbold, Paul, Carlson, William L. and Thorne, Betty M, Statistics for Business and Economics (5th edition). New island of Jersey scholar Hall, 2002. 5. Keller, Gerald and Warrack, Brian, Statistics for focal point and Economics (5th edition). Boston Duxbury Thomson Learning, 2000. Additional Readings 1. Berenson, Mark L. , Levine, David M. and Krehbiel, Timothy C. , Basic Business Statistics Concepts and Applications (9th edition). New Jersay Prentice Hall, 2004. 2. Barron, Michael M. Statistics for Economics Accounting and Business Studies (Latest Edition), New York, Prentice Hall. 3. Carlson, William L. and Thorne, Betty, Applied Sta tistical Methods for Business Economics and sociable Sciences (Latest edition). New Jersey Prentice Hall. 4. Moore, David S. , The Basic send of Statistics (2nd edition). New York Freeman,2000. Paper 5. ISLAMIC economics Note The instructor concerned may assign additional and latest literature on the subject matter. The references provided at the end of the fall are just helping literature. Students must consult additional literature on each root word. Topic 1Introduction Moslem Economics i) Nature, and greatness of Muslim Economics.Muslim Economics Versus Economics of Secular Economy and Mixed Economic system of rules. ii) Brief Introduction of Basic appraises of Islam Taqva, Halal and Haram, legal expert, Benevolence, E type, Brotherhood and Cooperation as Determinants of Economic Behaviour and Policies. Topic 2major(ip) Economic Thoughts voice of Scholars Contribution of some Earlier Muslim Scholars in the teaching of Moslem Economics (Imam Abu Yousuf, Imam Abu Uba id Al Qasim,, Ibn-e-Khaldoon, Imam Ibn-e-Taimiah, Shah Waliullah Dehlvi, Baqar-al-Sadar). Topic 3Muslim Economic System Silent features of Muslim Economic System objectives, Economic Freedom, Property and Ownership Rights. The Concept of Equality and Efficiency.The Relative moance of Capital and Labour. Priority to Basic unavoidably. Concepts of Ownerships and Implication. eudaimonia and income Distribution. Comparison of Moslem Economic System with Capitalism and well-disposedism, with respect to above cited principles / values of Islam. Topic 4Microeconomics in Islamic Framework The Consumer Behaviour in Islam. Utility, Moderation, optional Consumption Behaviour. giving medication of Production and Behavioural Theories of Firms. Objectives and Behaviour of Firm in Islamic Economy. Business ethical motive in Production and Marketing. Hoarding and Gains. Market Structure Monopoly and Competition, alternative Allocation in Islamic Environment and Cartels.Concepts of Fair fox iness. Stockists / Wholesales, determination of Prices and Rate of Normal Profit / Meeting of bolshiees. Price Mechanism and State lineament in Regulation of Markets. Topic 5The Modes of Financing In Islam Modarba and Musharka Types of Bai. (Bai-Salam, Bai Muajjal, Morabaha. ) Saving and Investment in Islam. Investment of Savings for Gains. Topic 6Distribution in Islamic Economy Islamic Stress on locomote of Wealth. Steps against Concentration of Wealth. Social Justice in Islam. Rights of Labour, Distributive Justice Use of Land and Other Natural resourcefulnesss and their Rewards. spot of State in Distribution of Wealth.Topic 7Some Basic Macroeconomic Concepts Consumption, thriftiness and Investment Functions in Islamic Environment. Determents of Islamic Consumption Function, Concept to Help others, Welfare and Religious believes. Zakat and Usher. Topic 8Demand and Supply of Money and Banking Gold Money, Paper Money and Credit Money. Western Justification of interest. Islamic Concept of Riba, its Implications and Alternatives. Functions of Commercial Banks in Islamic Framework. Central Banking and Monetary Policy in Islamic Framework. Central Banking and Monetary Policy in Islam. Inflation Vs. Design of Capital Market. Monetary Policy in an Islamic Framework. Topic 9Zakat, Social Justice and StateMeaning of Zakat, Nisab, Introductory Hints about items of Zakat. Distributive division of Zakat and Social Justice. Zakat as a tool in Fiscal Policy. Economic Role of Islamic State. Welfare consumption and limits. Revenue and Expenditure Items in forward-looking Islamic States. Beneficiaries of Zakat. The Tax Policy of Islam. Nature and context of Fiscal Policy in Islamic State (Taxation Policy). Expenditure Principles. Burden of Taxes. Topic 10Economic Planning and victimisation Concepts and Objectives of Economic study in Islam. mental imagerys for Development. Nature of Economic Planning in Islam. Topic 11The Islamisation Process In Pakistan The Islam isation of Banks. Implementation of Zakat / Usher in Pakistan.A brief Survey of Changes in Economic Structure and Conditions Since the Holy Prophet (regarding Transport / communication, Business Forms, Production of Goods, Money and Banking). Topic 12New Emerging Issues and Challenges Current Situation and Proposed Changes. Islamic View of internationalist Economic Institutions and Modes of external Cooperation. Islamic View of Globalization. tincture Identification of Goods, Merits and Trade. Fair Prices Vs. Market Price etc. Books Recommended Basic Texts 1. Islamic Economics Theory and Practice, A Comparatice orbit, M. A. Mannan, Cambridge, Hodder and Stoughton, 1986 (or latest ed. ) 2. Islamic Economics Dar A. H & M.. Akram Ilmi Kitab Khana, Lahore (latest ed. 3. Macro Consumption Function in an Islamic Economic Framework, M. Fahim Khan, global Centre for look In Islamic Economics, King Abdual Aziz Univ, KSA. References 1. Ahmad, Khurshid, (latest edition), Fiscal Policy and Revenue Allocation in Islam, International Islamic University, Islamabad. 2. Anf A. Q. Mannan M. A. (1995), create a System of Financial Instruments IRTI, Islamic Development Bank, Jeddah. 3. Badawi, Imam Abu Abaid Al-Qasim Muhammad A. Zaki, Kitab ul Amwal , Zakat and Social Justice, Islamic Council of Europe, London, 1979. 4. Chapra T M. , The Economic System of Islam, University of Karachi, 1991. 5.Chapra, Umer, Monetary Policy in an Islamic Economy, in Money and Banking in Islam, Institute of Policy Studies, Islamabad. 6. Ghazanfar S. M. , (2003), Medieval Islamic Economic Thoughts, Routledge Publishers. 7. Khan M. Fahim, (1995), military man election Mobilization Through the Profit, Loss Sharing Based Financial System, IRTI, Islamic Development Bank Jeddah. 8. Khan, Tariq ullah, (1996), Practice and Performance of Mudarba, A case study of Pakistan, IRTI, Islamic Development Bank, Jeddah. 9. Khurshid, Ahmad, body waste of Riba Institute of Policy Studies, Islamabad. 10. Mahd i, M. Ahmad, (1995), Islamic Banking Modes for House Building finance, IRTI, Islamic Development Bank, Jeddah. 11. Mannan M.A, (1996), Financing Development in Islam, IRTI, Islamic Development Bank, Jeddah. 12. Naqvi Syed Nawab Hyder Ethics and Economics . Leicester, The Islamic Foundation. 1981. 13. Nomani, Farhad & Rehnuma. , Ali, Islamic Economic Systems Zed Books Ltd. , London, 1994. 14. Nuti, D. Haris, (1995), The Economics of Participation, IRTI, Islamic Development Bank, Jeddah. 15. Siddiqui, M. N. , Muslim Economic Thinking, Leicester, The Islamic Foundation. 1985. 16. Tago, Usman, Justice Introduction to Islamic Finance, (2000), Idara-tul- maarif edition. 17. Yusaf , Imam Abu, Kita bur Kharaj, Lahore, Islamic Book Centre, 1979. Paper 6. major(ip) ISSUES IN PAKISTAN ECONOMY Topic 1Overview of Pakistan EconomyDevelopment Experience, Approaches, Policies and Outcomes. Identification of Issues The era of 1950s, 1960s, 1970s, 1980s 1990s and 2000s. Structural Change and Sources of Growth. Emergence of Economic Issues, tender Resource Development, Unemployment, poverty, Income Distribution, Debt, Deficit etc. Growth with limited development in Pakistan. Topic 2Development Planning and Resource Mobilization Agricultural Development Policies and Priorities, study Targets of Develop Plans and Emerging Issues Neglects and Successes Mobilization of house servant Resources Shortages, Deficits and Role of abroad Aid. Agricultural Vs. industrial Development Debate. Agricultural Adequacy.Topic 3Agriculture and Industrial Development Emerging Issues radiation diagram of Agricultural and Industrial Development, Land iron outs and Its Impacts, the Role of blue jet Revolution and its Impacts Present posture. Agricultural Price Policy and Income Tax. Sectoral foothold of Trade. Industrial Development Policies and Strategies. Development of Large and Small Industries. Value Added Manufacturing Goods Vs. Primary Goods Production. Agriculture Vs. Industry Developm ent Debate. Topic 4Sectoral Development, Employment innovation and Unemployment Sectoral Priorities and Development Issues. Human Resource Development and Emerging Issues Population Growth, Labor Force Participation Rate and Employment Pattern, Unemployment and Underemployment, Forecasting Manpower demand and Employment. Strategies to engagement unemployment.Criteria to Measure Unemployment / Underemployment judgment of conviction Criterion, Productivity Criterion and New Index of Unemployment Application to Pakistan and Empirical Evidences. Good Goverence, Social Action Plan and its Impact. Role of Institution in Development. Social Sectors development Vs. High Retun Sectors Growth commerce off. Topic 5International Debt and Dependency Concepts of contrasted Aid and Debt. acceptation Vs. Domestic Reserve Mobilization (failure). Size of foreign Debt, Debt Saving and its Impacts. Strategies to combat with High Debt Saving Policy, Foreign Trade Promotion, Cutting non-developm ent Expenditures, Rescheduling and its Impacts.Debt Management in Pakistan and Its Impacts. Debt Modeling and Future Implications. Topic 6Poverty and Income Distribution Pattern of Income Distribution Rural and Urban. Definitions and Approaches to Measure Poverty Income Approach, Expenditure Approach, Basic Needs Approach, Poverty of Participatory Index (POPI). How to Combat Poverty Growth Strategy, Basic Needs, Labor Intensive Investment Education / Training etc. and Social Action Plan (SAP) , its Role and Critical reassessment, Evasion of Policies / Strategies to Combat Poverty and Improving Income Distribution Critical Evaluation. Neglect of Human Resource Development. churl Labor. Factors Productivity Issues.Topic 7Inflation, Foreign Trade Deficit and Emerging Issues Sources of Inflation in Pakistan. Policies to Combat Inflation and their Impacts. Trade Performance, Instability and its Impacts. Policies to Combat Deficit and Trade Instability. WTO and Its Impacts. Reforms and F urther Needs. Expected Impacts of WTO and Challenges. Terms of Trade Issues, Market adit and Health Related Rates. Recommended Books 1. Aslam M. , Perspective on Development Planning In Pakistan, Allied Book Centre, Lahore, 2001-2002. 2. Chaudhary M. Aslam and Ahmad Eatzaz Globalization, WTO and Trade rest in Pakistan, FerozSons, Lahore (2004). 3.Chaudhary M. Aslam, Human Resource Development and Management in Pakistan, Ferozsons, Lahore (1989). 4. Ishrat Hussain, Pakistan The Economy at the Gross roads Past Policies and Present Imperatives, Oxford Univ. Press, Karachi, 1988. 5. Khan, Shahrukh R. , 50 Years of Pakistans Economy handed-down Topics and Contemporary Concerns. Oxford Univ. Press, Karachi (2000). 6. Mahbool-ul-Haq Centre for Human Development (MHCHD), Poverty Profile of Pakistan, (1989) Oxford University Press. 7. Human Development In mho Asia, yearbook Report. 8. Saeed, Khawaja Amjad, The Economy of Pakistan, Karachi Oxford University Press, 2004. 9.Zaidi, Akba r, (1999), Issues in Pakistan Economy, Oxford Univ. , Press, Karachi. 10. World Development Reports, World Bank. (NoteTeacher(s) must assign latest research cover pertaining to each topic) M. A. Part II Paper 1. INTERNATIONAL TRADE surmise AND FINANCE A)International Trade Theory Topic1. Importance and Bases of Trade wherefore Study International Economics? The Changing World and Interdependence substructure of Trade, Gains from Trade. out-and-out(a) Advantage, Comparative Advantage, Overview of Comparative Advantage and Pattern of Trade. Offer Curves and Free Trade Equilibrium. Disagreements on Free Trade Overview of Emergency of International Trade Issues.The cracking of Exports Demand and Balance of Payment. Substitution and Income Effects, Impacts of Rise in Exports Demand. Topic 2. Growth and Trade International Trade and Shift in Production Function, Immerizing Growth, Output Growth and Terms of Trade (T. O. T) / Deterioration Uniform Growth at given T. O. T. The transi t Problem Marshall Plan and Transfers, Transfer of Resources Neutral Case. Topic 3. Technology and Factor Endowment Ricardian Trade Model, World Production and Gains. Comparative Cost and Trade Pattern. National and World Gains from Trade. International Wage differentials and Productivity. Technical Progress and International Gains.WTO and Gains from Technical Progress Impacts on Prices. Equilibrium Production and Consumption Non-traded and Tradeables, Costs, fringy Physical Product and Production Possibilities. Production Possibilities with Diminishing Returns, Increasing Opportunity Cost. Free Trade and Income Distribution, Relative Demand, Supply and Pattern of Trade. Dutch Disease and its application. Topic 4. Factor Endowment and Heckscher Ohlin Theory Output and Factors Rewards in 2*2 Model. Factor brashness Comparison. Heckscher- Ohlin (H. O) Model, The Role of Demand, Factors Prices and Commodity Prices, Factor Price Equalization, and Factor Intensity Reversal.Newly Indus trializing Countries (NICs) and Footloose Production Process. NICs and H. O Theorem. The Product Cycle, Critical Analysis of Traditional Trade Theories. Rypecksy Theorem and its critical review. Topic 5. Markets, Cartels and International Trade Monopoly and Import Competition, Export Opportunities. Product Differentiation and Monopolistic Competition. Dumping / Discrimination and WTO, competitiveness and Market Share, Gains from Migration. WTO and Factors Movements and the Commodity Movement. Multinationals Firms and Foreign Direct Investment, Transfer of Capital, Technology, Skill and other Gains, Transfer of Resources and Transfer Problem. Topic 6. duty, Quota and Trade PoliciesTariff and Small Country Effects of Tariff, Price and Demand for Imports, Welfare impacts. Impacts of Tariff on Government Revenue, T. O. T Production and Welfare. Impact of Tariff on Domestic and World Welfare. The Optimal Tariff. Tariff and Distribution of Income. Brief Introduction of Tariff and WTO Law s, Tariff and Second Best Choice, Subsidies and Quota, Voluntary Quota, Growth with Protection vs. Free Trade Gains and WTO. Managed Trade, Quantitative Restrictions, Voluntary Export Restrictions and Their Impacts. Trade Diversion and invidious Arrangements. WTO Injury, Anti-dumping Duties, Tariff and B. O. P Support. Success and Failure of WTO Agenda. B)International Monetary Economics and Finance Topic 7.Foreign Exchange Market and Exchange Rate Determination Foreign Exchange Rates (F. E. R) What it represents? Real, Nominal and Effective Rates. Determinants of Foreign Exchange Rate. high-octane F. E. R Market. energetic Theory of Interest and Exchange Rate. The Theory of complete Exchange Rate Determination. Capital Flow and Speculations. Forward Exchange Market, Interest Arbitrage, Interest Parity Theory, Speculators, Hedgers and Traders, Forward Exchange Rate Policy. Topic 8. Purchasing Power Parity, Exchange Rates and Balance of Payments (B. O. P) Purchasing Power Parity (PPP) Non-Trade Goods, Balance of Payment Effect. Test of Exchange Rate Instability.Impacts of F. E. R. Rate Instability. B. O. P Income Absorption Approach to B. O. P. Elasticities of Exports and Imports and Impact on B. O. P. The Marshall- Larner Conditions. Monetary Approach to B. O. P. Monetarist Critique to the Keynesian Closed Economy Model. B. O. P. Effects of Stabilization Policies. Empirical Tests of Monetary Approach to the B. O. P. WTO and B. O. P Support. Adjustment with Short-run capital Flow. Methods dealing with unsought Short-run Capital Flow. Topic 9. Open Economy Monetary and Fiscal Policy Monetary and Fiscal Policies Internal and External Balance. Monetary and Fiscal Policy with Fixed Exchange Rates.Problems of Small Country Fixed Exchange Rate, Free Floating Exchange Rate, Managed Exchange Rate and Critical Review of The Fiscal Monetary Mix Models. Fiscal Policy and Temporary Payment Imbalances. Monetary Policy and Permanent Payments Imbalances, A Random Walk M odel of Payment Imbalances. Critical Review of the advanced(a) Theory and Adjustment Mechanism. Topic 10. International Institution Trade, Capital and B. O. P. Introduction of International Institutions, Role and Major Activities of IMF. IMF Credit Facilities. Loan Mechanism, Value of SDRs. The Optimum Quantity of Reserves, Optimum Interest Rate. Euro-Dollar, Dollar Exchange and Impacts. Role of IMF in B. O. P Support and Stabilization. Topic 11.International Movements of Factors and Welfare Impacts / Issues Facts on International Capital Flow ASEAN Crisis and Role of International Institution and Criticism. Motive for Capital Movement Return and Risk Diversification. why disagreement on International Movement of Labour? Welfare Impacts of Labour Movements. Factors of Production and Price Equalization Issues. Losses of National Sovereignty. Can Developing Countries Compete and Gain from Trade Terms of Trade due to Demand Pattern and its Impacts. What Counts for wage derivative Bet ween Primary Goods Producer and Value Added Goods Producer, warlikeness Issue. WTO GATT and Emergency of WTO. Why necessary to total WTO?WTO Expected Impacts on Trade, Liberalization and B. O. P modified Status of Developing Countries and Net viands Importing Countries. Protections under WTO Rules. Are Free Trade Gains more than dependent Trade? Gains for whom how much and how long? Centre-Periphery Theory. WTO Rules Sanitary, Phytosanitary, Dumping, Anti-Dumping etc Rules and Emerging New Issues and Their Impacts. Topic 12. Major Contemporary International Economic Issues WTO GATT and Emergency of WTO. Why necessary to Join WTO? WTO Major Trade Rules and Their Expected Impacts on Trade, B. O. P Deficit. WTO and Fair Trade / Free Trade. Free Trade will it be?Issue of Are Free Trade Gains more than Restricted Trade? Emerging regional Trading, Blocks, Special Preference and their Impacts. Issues relating to the Contributions of International Financial Institutions and Their Evalu ations. Is there enquire to Reform International Institutions? Monetary Integration and Their Impacts. Terms of Trade Issue. International Debt Problem, Growth and Competitiveness. Issues of Developing Countries Level of Development, Competitiveness and Trade Stability World Income Distribution and Free Trade. Basic Readings 1. Caves Richard, E. , and Jones Ronald W. , World Trade and Payments An Introduction, Latest Editions.Little, browned and Company, Boston, Toronto. 2. Chacholiades, Miltiades, International Trade Theory and Policy (Latest Edition). McGraw Hill Book Company, New York, London. 3. Donomick Sal Vatore B. , International Economics (Latest Edition), Prentice Hall. 4. Grubel Herbert C. , International Economics, (Latest Edition) Richard D. Irwin Inc. , Honewood, Illinois. 5. Peter Holinder & Thomas A. , Pugel. , International Economics. 9th Edition 1996. 6. Sodersten B. and Geoffry Read. , (1994). International Economics, MacMillan Press Ltd. 7. The Global Competiti veness, Report 1999, World Economic Forum, Oxford University Press, Oxford, New York. 8.World Bank. World Development Report, 1986. Oxford University Press. Additional Readings 1. Baldwin Robert L. and Richardson David J. , (1986). International Trade and Finance, Little Brown and Company, Boston, Toronto. 2. Moran Theodore H. , (1985). Multinational Corporations The Political Economy of Foreign Direct Investment. Lexington Books. Toronto, Massachusetts. 3. Krugman and Obstfeld, International Economics Theory and Policy, Addison Willey (1998). Paper 2. ECONOMETRICS THEORY AND APPLICATIONS Topic 1Introduction Definition and scope of econometrics, Econometric models vs. Statistical models Ingredients of econometric moldSpecification, estimation, verification or evaluation and forecasting. Topic 2The Classical Linear Regression Model (a)The Simple Linear Regression Model (SLRM) Estimation of SLRM by Ordinary Least Squares (OLS) Interpretation of Estimated Coefficients and their Econom ic Meanings. (b)The Multiple Linear Regression Model (MLRM) Estimation of MLR model by OLS and its assumptions Interpretation of estimated coefficients and their economic meanings, Computation of elasticities and standardized coefficients Using R2 as a measure of Goodness of Fit and some roblems with its use. (c)The General Linear Regression Model (GLRM)Estimation of GLRM by OLS through Matrix Approach Var-Cov matrix of estimated coefficients. (d)Evaluating an Estimated Linear Regression Model Testing the significance of individual coefficients. Testing the significance of the model as a whole. Topic 3 Multicollinearety What is Multicollinearety? Distinction between perfect Multicollinearety and less than perfect Multicollinearety (Multicollinearety problem). Consequences of Multicollinearety problem, methods for detection of Multicollinearety problem. therapeutic measures for Multicollinearety problem. Topic 4 Heteroskedasticity What is Heteroskedasticity and what are its causes? Consequences of Heteroskedasticity for OLS estimation. Methods for detection of Heteroskedasticity. Remedial measures for Heteroskedasticity. Topic 5 Autocorrelation What is Autocorrelation and its Causes? Consequences of Autocorrelation for OLS estimation. Methods for detection of Autocorrelation. Remedial measures for Autocorrelation. Topic 6Forecasting with a hit comparability Regression Model What is forecasting and what are its various types? all-important(a) features of a good forecast. Variance of unconditional forecast error. Variance of conditional forecast error. Measures for evaluating the forecasting power of a model.Topic 7 Errors in Variables, Time as a Variable, Dummy Variables, Grouped Data, Lagged and Distributed-Lag Variables Errors in variables. Time as a variable. Dummy variables. Estimation from grouped data. Exogenous lagged variables. Endogenous lagged variables. Methods of estimation of lagged models. Topic 8 Identification The problems of identification. Implications of the identification state of a model. orb rules for identification. Identifying restrictions. Tests for identifying restrictions. Identification and Multicollinearity. Topic 9Simultaneous Equations Models Why Simultaneous Equation Models? Various Types of simultaneous equation Models. The identification problem.Checking the identification state of a model or of a particular equation in the model by high society Condition, bogus equation and reduced from approaches. Identification and methods of estimation. Topic 10Consistent Estimation of Parameters of Simultaneous Equations Models Indirect Least Square Estimation. Two-stage Least Squares Estimation. Instrumental variables method of estimation. Topic 11Varying Coefficient Models Causes of Coefficient Variation. promiscuously Varying Coefficient Models. Systematically Varying Coefficient Models. Topic 12Time serial Econometrics ARIMA Models. Comparison of forecasts based on ARIMA and Regression Models. Unit Roots a nd Co-integration.Dummy Trap and its detection. Suggested Books 1. Gujrati, D. Basic Econometrics , 3rd Edition, McGraw Hill, 1993 2. IntrilligatorEconometric Model, Techniques and Applications, N. J. Printice Hall, 1978 . 3. Johnston, J. Econometric Models, McGraw Hill, 1984 4. Koutsoyiannis, A. Theory of Econometrics, McMillan, 1978 5. Maddala, J. S. Econometrics, McGraw Hill, New York, 1978 6. Wonnacot, R. J. Econometrics, John Wiley, New York & Wonnacot, E. 7. Madnani, G. M. KIntroduction to Econometrics Principles and Applications, (Latest Edition) 8.Pindyck &Econometric Models & Economic Forecasts, 3rd RubenfeldEdition, McGraw Hill Inc. 1992. 9. Maddala, J. & Kim Unit Roots, Co-integration and Structural Change, Cambridge University Press, 1998. 10. Griffiths, Judge, The Theory and Practice of Econometrics, John Willey and Sons, Latest edition. seek Articles 1. Abadir (2002) Notation in Econometrics a proposal for a standard. Econometric Journal, Vol. 5, issue 1, pages 76-96 . 2. Abadir and Jan R. Magnum (1993) OLS Bias in a Nonstationary Autogregression, Econometric Theory, Vol. 9, issue 1, pages 81-93. 3. Don Andrews (2003). A Bias-Reduced Log-Periodogram Regression Estimator for the Long Run, Memory Parameter, Econometrica, 71, (2), 675-712. 4.Gunnar, Bardsen, (1999), Economic theory and econometric dynamics in modeling wages and prices in the United Kingdom, Empirical Economics, 24, (3), 483-507. 5. Joshua, Angrist, (2001), Estimation of Limited aquiline Variable Models with Dummy Endogenous Regressors Simple strategies for Empirical practice. Journal of Business and Economic Statistics, 19, (1), 2-16. 6. Luc, Bauwens, (1994), Estimating End Use Demand A Bayesian Approach. Journal of Business and Economic Statistics, 12, (2), 221-31. 7. Manuel, Arellano, (1992), Female Labour Supply and On-the Job assay An Empirical Model Estimated Using Complementary Data Sets. Review of Economic Studies, 59, (3), 537-59. 8.Stephen, Roy, Bonal, (1991), Some Tests of specification for Panel Data Monte Carlo Evidence and an Application to Employment Equation. Review of Economic Studies, 58 (2), 277-97. Paper 3. DEVELOPMENT economics THEORY AND POLICY Note Students are expected to study latest editions of the recommended books. At least two research papers pertaining to each topic must be comprehended. Each topic must be ready and analyzed critically. Any aspect of the topics may be asked in the examination. The course content provides a guideline. Students must prepare critical review of topics. Part A Theoretical Foundations and Sector Specific Issues Topic 1 Scope and New DevelopmentsDefinitions Economic Development and Growth, Identification of Development variables. Scope and import of Development Economics. Characteristics of LDCs. Measurement of Economic Development and Growth. Per Capita Income approach, Quality of Life Index / HDI etc. Historical overview of world development and emerging major issues pertaining to little Develope d Countries (LDCs). Why the whole world is not developed? Topic 2 Major Theories of Development Classical and Neo-classical Theories, Adam Smith and Competitive Capitalism, Vicious Circle of Poverty, Stages of Economic Growth, Balanced and Unbalanced Growth, Big elevate Theory. Dependency Theory, Structuralists View Point.Endogenous Growth Theory New reaping Theory. Income Convergence/ Divergence, New Growth Theory. Market Friendly Approach. Topic 3 Agriculture and Industry Agriculture vs. Industry Development Debate. Lewis Model of intemperance Labor. Rains Fei Model and its critical review. Transforming Agriculture, Underemployment problem. Role of Agriculture Market for Industrial Output, preparation of Input, food, Complementarity, productivity increment. Terms of Trade Issue and Subsidies, etc. and Competitiveness. Land Holdings, Green Revolution and its Performance. Need for Industrialization. Industrialization and its financing mechanism. Problem of Sectoral Dualism. Why Green Revolution?The Spread of Green Revolution in Pakistan and its Status / Contributions. Topic 4 Population, Education and Human Capital Demographic Transition, Human Resources as a source of growth and their contributions. Investment in reading and returns. Models of Employment & Unemployment Time Criterion, Productivity Criterion and New Index etc. , and Employment generation Strategies/Techniques. Part B International Development Issues and Debates Topic 5 International Debt, Aid / Assistance Why international borrowing? Two Gap Model, Aid commitments and disbursement. Sources of borrowing. Debt Cycle Theory/Stages. Debt Burden Debt Servicing, Debt laffer Curve, Debt sully back etc. Latin American Debt Crises, ASEAN Crises, Debt Problem of LDCs and South Asia, Debt Overhang and threat to growth. Policies to combat debt problem Forecasting debt and solution for debt burden, saving mobilization/Domestic resource mobilization, Debt rescheduling etc. Debt Modeling and Forecasti ng Future Implication. Topic 6 WTO, Liberalization and International Trade Trade vs. Aid. Liberalization of Trade and its impacts/gains etc. , Foreign Exchange Constraints and Balance of Payment deficit. Role of GATT and its Failure. WTO and LDCs. Trade Instability, Distribution of gains from Trade liberalization. Regional Trade Associations (RTAs) their role and contributions. Basis for trade and benefits Gains from Trade Static and Dynamic Gains.Comparative Advantage, Revealed Comparative Advantage and Competitiveness. Trade as an engine of growth. Product Cycle. Determinants of exports growth. Transfer of Technology Sources & Need. Technology touch Development and Appropriate technology issue. Topic 7 Transnational Corporations (TNCS), FDI and Development Transnational Corporations (TNCs) Objectives, Role and Contributions, Long term cost of TNCs. Transfer of Technology Ways and Means. Global integrated production system TNCs and Globalization, Foreign Direct Investment (FDI) an d Its Determinants/Role. Foreign Direct Investment (FDI) and TNCs. Flow of FDI and its contributions.Topic 8 Poverty and Income Distribution Definitions and Measurement of Poverty/Poverty Line. Poverty concepts/definitions. Absolute Poverty, Relative Poverty, Income approach, Expenditure approach, Basic needs approach, Poverty of Opportunities Index (POPI) and Calorie-based approach etc. Poverty Indicators. Poverty by socio-economic groups. Sources, impacts and policies to combat poverty. Strategies and tools to combat poverty. Growth and Income Inequality in the world. Empirical evidences on poverty. Redistribution with growth. How to combat income inequality. Basic Needs, Social Action Programs and Poverty alleviation. Topic 9 Environment and DevelopmentModel of Environment and Economic Activity. Market Based Approach and Externalities. Deforestation and Renewable Resources, Measuring environment values. Deforestation and Macroeconomic Environment. Industrialization and its envir onmental cost, Use of Pesticides and Environmental Impacts. Natural resources degradation. Cost of Pollutions/Environmental degradation. 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, bionomics and economic progress. Topic 10 Growth ModelsHarrod-Domer Model, Technical Change and growth Model, Kaldors Model of Distribution, Joan Robinsons Model of capital accumulation, Model of looker State Growth. Saving-Investment and Golden Rules. Recommended Books 1. Balasubramanyam V. and Lall, S. (1992, eds), Current Issues in Development Economics. McMillan , London. 2. Chaudhary M. Aslam and Hamid, A. , (1999). Human Resource Development and Management in Pakistan. Ferozsons, Lahore. 3. Chenery H. B. and Srinivasen. Hand Book of Development Economics,* vol. I & II, Amsterdam (1988, eds. ). North Holland. 4. C ypher J. M. and Dietz James L. , (2004), The Process of Economic Development, Routledge.Tayl or Francis Group, London/New York. 5. Ghatak Subarta, (2003), Introduction to Development Economics, Routledge, Taylor and Francis Group, London/New York. 6. Herrick B. and Kindleberger C. , (latest eds. ). Economic Development. McMillan, New York. 7. Hirshman A. O. , (1960). Strategy of Economic Development, Yale University, Press. 8. Jones H. G. , An Introduction to Modern Theories of Economic Growth, (Latest Edition), McGraw Hills. 9. Mahboob-ul-Haq internality for Human Development (MHCHD). Human Development in South Asia, one-year Reports, Islamabad. 10. - (1999), A Profile of Poverty In Pakistan, (In Collaboration with UNDP). 11. Meier Gerald M. Leading Issues in Economic Development, (Latest Issue), Oxford University Press. 12. Thirlwall, A. P. , (2003), Growth and Development, With Special Reference to Developing Economies 7th edition, Palgrave Publisher. 13. Todaro M. P. , Economi c Development in the third World. Latest Edition, Heinemann, London. 14. UNDP, Human Development Reports , Annual Reports. 15. Van Den Berg H. , (2001), Economic Growth and Development,* McGraw Hills. 16. William, Easterly, Growth without Development, A Case Study of Pakistan, World Bank. 17. World Bank, World Development Reports, Annual reports, 1986, 1987, 1990, 1991, 1992, 1994, 1995, 1998/99, 2000/2001 and 2004. 18. Yotopolous Pan A. and Nugent Jeffery B. Economics of Development, Empirical Investigation (Latest Issue). Harper and Row Publishers, London/New York. Paper 4 RESEARCH METHODOLOGY Importance of Research Methodologies. Research techniques in social sciences and their limitations. Theory and basis of research. Empirical and conjectural research. Stages of research process. Identification of problem/issue, data, theory and estimation and related problems. Thinking, field of operations Research Designs the process of field research, Exploratory Research, Casual Inferenc e. Methods of communication in survey. stack 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 grading Measurement, Measurement plates, 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 supplemental Data the Nature of Secondary Data Sources, the Use of Secondary D ata, 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 director 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. Recommended Books 1. Birchenhall C. and Grout P. , (latest edition), Mathematics for Modern Economics, Herifaq Publishers, New Delhi. 2. Holt, Rinehart and Winston, Holt-Sounders Japan Ltd. Tokyo (Latest edition). 3. Johnson, Glenew Research Methodology for Economists Philosophy and Practice, McMillan publishing Co. (Latest edition). 4. Kidder Louise H. , Rese arch Methods in Social Relations. 5. Lambert, P. , (1985) Advanced Mathematics for Economists. Static and Dynamic Optimization, Basil Black Well. 6. Neuman W.Lawrence, (1997) Social Research Methods, Qualitative and Quantitative Approaches, Allyn and Bacon Boston. 7. Sckaran Business Research Methods 8. Uma, Sekarn, (1992), Research Methods for Business. A Skill Building Approach, John Willey & Sons, Inc. 9. youthfulness Pauline V. , (latest edition), Scientific Social Survey and Research, Prentice Hall Inc. 10. Zikmund William, G. , (1994), Business Research Methods, The drydem Press. OPTIONAL PAPERS Paper 5. 1 ADVANCED MATHEMATICAL ECONOMICS Topic 1 interlocking Number and Circular Functions imaginary and intricate Numbers. Complex Roots. Circular Functions. Properties of Sine & Cosine functions. Eular Relations.Alternative Representation of Complex Numbers. Topic 2Integral Calculus Dynamics and Integration. The Nature of nebulous Integrals, Basic Rules of Integrations & Rules of Operation. The Substitution Rule and the Rule of Integration by Parts. defined Integrals. Major Properties of Definite Integral. A Definite Integral as an line of business Under a Curve. Improper Integrals. Economic Applications of Integrals Finding Total Functions from Marginal Functions, Investment & Capital Formation, Present Value of Cash Flow. Present Value of a Perpetual Flow, Domar Growth Model. Topic 3 derivative Equations Continuous Time branch bless Linear Differential EquationsMeaning and Definition Homogenous & non-Homogenous Cases. Solution of beginning(a) Order Linear Differential Equation with continual Coefficient & Constant Term and its Verification. Economic Application Dynamics of Market Price. Solution and its Verification of First Order Differential Equation with Variable Coefficient and Variable Term. Exact Differential Equation, its Solution and Verification. Non-linear Differential Equations of the First Order and First Degree. Bernoulli Equation, Separable Variables. The Qualitative Graphic Approach. Concept of Phase Diagram, types of Time Paths and their Dynamic Stability. Economic Application Solow Growth Model.Topic 4 Differential Equations Higher Order Differential Equations Solution and Verification of Second order Linear Differential Equations with Constant Coefficient and Constant term-Distinct Real Roots, Repeated Real Roots and Complex Root Cases. Dynamic Stability of Equilibrium. Economic Applications. A Market Model with Price Expectations. The Interaction of Inflation and Unemployment. Solution of Higher order Differential Equations with Constant Coefficient and Constant Term. Convergence and the Routh Theorem. Topic 5 deviance Equations Discrete Time First Order Difference Equations Solution and its Verification of First Order Difference Equations. The Dynamic Stability of Equilibrium.Economic Applications The Cobweb Model, A Market Model with Inventory. Nonlinear Difference Equations The Qualitative-Graphic A pproach. Phase Diagrams Types of Time Path. A Market with a Price Ceiling. Topic 6 Higher Order Difference Equations Solution and Verification of Second-Order Linear Difference Equations with Constant Coefficients and Constant Term-Distinct Real Roots, Repeated Real Roots and Complex Roots cases. The Convergence of the Time Path. Economic Applications, Samuelson Multiplier-Acceleration Interaction Model. Inflation and Unemployment in Discrete Time. Higher Order Linear Difference Equations and their Solutions. Convergence and Schur Theorem Again.The Solution of Simultaneous Differential Equations. Topic 7Non-Linear Programming The Nature of Non Linear Programming Non-Linearities in Economics. Kuhn work over Condition. Interpretation of Kuhn Tucker Condition. Kuhn Tucker adequateness Theorem Concave Programming. Arrow Enthoven Sufficiency Theorem Quasiconcave Programming. Economic Application-Utility Maximization, Least Cost Combination. Solving a Nonlinear Program via the Kuhn-Tuck er Conditions. Recommended Books 1. Chiang A. C. Fundamental Methods of Mathematical Economics McGraw Hill (3rd Edition) 1984. 2. Dowling Edward T. Mathematics for Economics Schaum Series, 1981. 3. grouch Colin J.An introduction to Mathematical Methods in Economics McGraw Hill. 4. Haung David, S. , Introduction to the set of Mathematics in Economic Analysis Graphical Approach, Simplex Method, Economic Application of linear Programming N-Y John Wiley and Sons, latest edition. 5. Hoy M. , Livermois J, Rees R, Stengos T. , Mathematic for Economics, 1996. Addison0Wesley Publishers limited. 6. Weber E. Jean, Mathematical Analysis, Business and Economic Application (latest edition), Harper and Row Publishers, New York. 7. Yamene, Taro, Mathematics for Economists, Prentice Hall, latest edition. Additional Readings 1. Allen R. G. D. , Mathematical Economics, London, Macmillan English Language Book Society. 2.Edey & Peacock, National Income and Social Accounting London, Hutxchinson Universi ty Library, 3rd Edition. Paper 5. 2 utilise ECONOMICS AND COMPUTER APPLICATION Topic 1Introduction to Windows 2000 and Ms-Word operate System, Performance Management, Desktop Management, Printer Management, Internet Explorer, E-mail. MS-Word, using Advanced format Features, Sharing data with Word, Word Macros, Composing Models and Mathematical Equations. Topic 2PowerPoint and MS-Access (XP) Database Concepts, File Linkages, Data Retrieval, Data Editing / Updating. Data Transferring. Topic 3SPSS and E-View Menu, Tool Bars, File Linkages, Dialog Boxes. Data Analysis, Analysis of Variance.Simple and Multiple Regression Analysis, Formatting Reports, Creation and Modification of Chart, Line Area and Pie Chart. Output navigator Printing, Data Editor Printing, Command Syntax Printing. Use of E-view for Model Estimation. Topic 4Estimation of Production Function Use of Computer, SPSS, E-View to Estimate Production Functions. Cob-Douglas Production Function, Constant Elasticity Production Function etc. Topic 5Computer Applications Demand Supply & Equilibrium Estimation of Demand and Supply using E