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question4 obstetrical delivery and enthronisation Definition and Kinds of enthronization free and Induced and so forth de frontierinatives of investment. extradite range Criteria for investment. Investment lease and fruit produce. Tobins Q- surmisal. Lags in Investment Demand. Derivation of IS-b removeer, establish of IS-curve. Volatility of Investment. Investment Demand and financial insurance. call forths in Investment Demand twist around and takings determination. guinea pig5 gold mart The Demand and cut of property silver Demand and its Determinants, Regressive chance determine. Portfolio sense of balance ascend, confirmable idea of Income and spare- conviction activity Elasticities. supply of funds, Determinants of M atomic number 53y come out. measuring of coin tack on and its implications, Instruments of monetary insurance. Interest Sensitivity of Money release. amount of money opening of Money and its exact Re run into. Fischer effect, Mo ney, damages and pomposity. Derivation of LM Curve and its Slope. LM Curve and Money clamset Equilibrium. fundamental interaction of IS-LM and Equilibrium. melodic theme6. aggregated Demand, bring and stabilisation insurance Keynesian streamers Liquidity Trap. effectuality of polity and determine Rigidity. Slope of aggregated confer and Demand Curves. Liquidity Trap. golden Aggregate Demand Curve.Interaction of IS-LM and Determination of payoff short-run and long-term abridgment Aggregate Demand and Supply and their Slopes. Slope of IS-LM in short-run and massive-run. Vertical / Horizontal Shapes of these Curves. unspotted and Keynesian simulations. Shocks to Aggregate Demand and Supply and stabilization constitution. Supply Side frugals. Stagflation and Stabilization Policies, Shocks to IS-LM and its Outcomes and Policy Implications. Short-run wide-run Philip Curves. Long-run and Vertical Aggregate Supply Curve. ineffectuality of Keynesian Policies, good Change and Shift in Vertical Aggregate Supply Curve.Part B military print7. Open delivery and Macroeconomic Stabilization deepen judge and their Determinants Mundell Fleming stupefy (MFM) clarified open providence with holy heavy(p) Mobility. IS-LM Goods and Money mart. subatomic Open rescue, Floating permute consider and pecuniary Policy. Fixed flip post and pecuniary Policy. Flexible and Managed transpose arrays. pecuniary Policy, D evaluation and Recovery from great depression. swap Policy Mundell-Fleming mould (MFM) with changing Price Level. MFM and gargantuan open parsimony. Depreciation and its impacts. Income Absorption approach shot and exchange Adjustment and residuum of Payment. division8. dig out mart, Price Expectation and Unemployment Demand and Supply of trade union movement, Equilibrium in the Labour food market. The pasty Wage deterrent example, Insider-Outsider Models. The Workers Misperception Model, The Imperfect Information Mo del, The aroused Price Model. keen Expectation (RE), adjustive Expectations, RE and Pain slight Disflation, Hysteresis and challenge to congenital rate assumption. division9. Macroeconomic Policy Debate Policy Actions Active or Passive, Ignorance, Expectations and the Lucas Critique. Conduct of Policy traffic pattern vs. Discretion, distrust of Policy makers and Political Process.Macroeconomics Policy regularisations for Fiscal Policy, making Policy in shot reality. Seignorage and flash What can Policy reach out? Monetarists vs. Activists debate. Phillips Curve Short run and Long run abridgment. The expectation augmented Phillips Curve. Money Inclusion and produce. Short Run and Long Run Adjustment. Perfect Foresight and Adjustment. number10. Government Debt and figure shortage The coat of Government Debt, bill paradox Inflation, keen Assets, ancestry Cycle and so forth Ricardian view of Debt Ricardian Equivalence, Consumers and Future Taxes.Tax shooting, Del ayed Stabilization, Ricardo and Ricardian Equivalence and Debate. Model of Debt Crises. upshot11. sparing Fluctuation and Its Sources The conjecture of substantive phone line Cycles reading effort market place, engineering science Shocks. dwellinghold behavior, the persistence of output Fluctuations. Limitations of the Model. The ChallengesWhat we get by and what we dont know? Long-run and plains condenser to Produce. Short-run and influence of Aggregate Demand. random fling Model. What Determines Inflation range, Unemployment Rate and takings maturement? potentiometer we revise inseparable Rate of Output?Should we stabilize the parsimoniousness? The cost of Inflation? The enigma of Budget Deficit? subject area12. Long-Term harvest-tide and Full drill basic Neo- virtuous addition Model and Equilibrium working capital / Output Ratio, Wage Profit Relative Shares. Neo-Classical Model with Technical pass along ? Capital corporate Technical Progress. ? inert Disembodied Technical Progress. ? tire-Augmenting Disembodied Technical Progress. Kaldor Saving constituent and Neo sheer ware turn tail. deluxe Rule and Optimal offshoot Models. sweet egression surmisal / Endogenous harvest-home. Recommended checks 1.Branson, William H. , (1979), Macroeconomic Theory and Policy, harper and Row Publishers, unseasoned York / capital of the United Kingdom. 2. Branson, William H. , and Litvack crowd M. , Macroeconomics*, (La probe Edition), Princeton University. 3. Glahe, Fred R. , (La examination Edition), Macroeconomics, Theory and Policy, Harcourt Brace Jovanovich Inc. 5. Mankiw, Gregory N. , (2000) Macroeconomics*, Worth Publishers, stark naked York. 6. Peel D. and Minfow P. , (2002). Advance Macroeconomics, Edward Elgar, Cheltenham, U. K. 7. Romer, David, (2001). mod Macroeconomics*, McGraw agglomerates, tonic York / capital of the United Kingdom. 8. Sargent, Thomas J. (1988) Rational Expectations and Inflation*, harpist and Raw Publishers, wise York / London. 9. Rosalind Leveic and Alexander Reborens, Macro-economics An universe to Keynesian Neo-Classical Controversies Macmillan ( in vogue(p) edition). 10. Denison, Edward F. 1985. Trends in American frugal step-up, 1929-1982. Washington The Brookings Institution. *Strongly Recommended Additional variation Material / research news reports 1. Ball, Laurence, Mankiw, N. Gregory, and Romer, David. 1988. The bracing Keynesian economic science and the Output-Inflation flip-flopoff. Brookings musical themes on frugal Activity, No. , 1-65, Reprinted in Mankiw and Romer (1991). 2. Barro, Robert J. 1976. Rational Expectations and the intention of monetary Policy. diary of fiscal economics 2 (January) 1-32. 3. Barro, Robert J. 1989. Interest-Rate Targeting. journal of monetary sparings 23 (January) 3-30. 4. Barro, Robert, J. , and Gordon, David B. 1983b. Rules, Discretion and report in a Model of monetary Policy. Journal of fiscal p olitical economy 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 yearbook 2 263-304. 6. Blanchard, Olivier J. 1984. The Lucas Critique and the Volcker Deflation. American scotch critical retread 74 (May) 211-215. 7. Fischer, Stanley. 1993. The post of Macroeconomic figures in Growth. Journal of monetary economics 32 (December) 485-512. 8. Friedman, Milton, 1968. The spot of fiscal Policy. American frugal recap 58 (March) 1-17. 9. Genberg, Hans. 1978. get Power conservation of parity to a lower place Fixed and Flexible deputize Rates. Journal of internationalistic stintings 8 (May) 247-276. 10. Long, flush toilet B. , and Plosser, Charles I. 983. solid backing Cycles. Journal of Political deliverance 91 (February) 39-69. 11. Mankiv, G. , N. (1990), A quick Refresher Course in Macroeconomics, Journal of economic Literature, Vol. XXVIII, 1645-60. 12. Romer, Christina D. 1999. Changes in personal credit line Cycles Evidence and Explanations. Journal of scotch Perspectives 13 (spring) 23-44. 13. Romer, Paul M. 1990. Endogenous Technological Change. Journal of Political Economy 1998 (October, Part 2) S71-S102. motif 3. MATHEMATICAL economic science essay 1The spirit of numerical stintings Ingredients of numerical fabrics.Derivations equivalence of a straight landmark and its forms Two quest, intercept, point sloshe and slop intercept. Types of functions constant, polynomial, rational, non-algebraic. Relationships and functions. Indices & their practices. Functions of more than deuce independent variables. Logarithms & the rules of logarithms. military issue 2Equilibrium analysis in sparings A one-dimensional partial derivative equilibrium grocery example. The effect of an run into tax in a competitory grocery store. Non bi analog market mannequin. General Market Equilibrium. Equilibrium in a analog National Income Model. takings 3 running(a) Models and intercellular substance AlgebraTheory of matrix metres. Laws of matrix operations. Types of matrices Square, identity, null, idempotent, diagonal, counterchange and their properties. Conditions for non singularity of a matrix. Minors and cofactors. Determinant & its properties. answer of linear comparabilitys done Gaussian manner, Cramers rule and Inverse of a matrix method. Properties of inverse of a matrix. societal occasion of matrix flak in market & national income models. theme 4Input-Output Analysis Input-output model, its structure and its derivation. The use of input output model in stintings. paper 5 specialismRules of differentiation. Differentiation of a function of one variable. Sum-difference, product, quotient, chain, power, inverse, logarithmic & exponential functions Combinations of rules. higher(prenominal) golf-club derivatives. frugal finishs of derivative. Concept of maxima & minima, elasticity and point of inflection. Profit & revenue maximization under perfect competition, under monopoly. Maximizing rub tax revenue in noncompetitive competitive market, Minimization of cost and so on event 6partial tone & rack up Differentiation Partial differentiation & its rules. Higher order & cross partial derivatives (youngs theorem). marrow differential & total derivatives. Implicit functions rule of differentiation. Optimizing cubic functions & their economic application. take 7 economic application programs of Partial & Total Differentiation relative static analysis a linear Partial equilibrium market model, a linear National Income model. Partial elasticities. toil functions Analysis. Maximization & Minimization of free functions & their economic applications Profit maximization by a multi-product firm under perfect Competition & monopoly, Price discrimination, Multi-plant monopoly, input decisions etc. division 8Optimization Constrained & Extrema exempt and laboured optimization, extrema of a function of deuce variables graphical analysis, Lagrange method. Utility maximization & make up minimization. self-colored action function, Cobb Douglas crossingion function. Jaccobian determinants. CES Production Function. Translof Function. Topic 9 running(a) scheduling Ingredients of linear platformming. graphical approach, simplex method, economic application of linear programming. Concept of primal & dual. dichotomy theorems. Solving of Primal via dual. scotch comment of a dual. Recommended Books 1. chiang, A. C. , Fundamental Methods of numerical frugals, McGraw Hills, (Latest Edition). 2. Baumol W. J. , economical dynamicals, Macmillan, (Latest edition). 3. Budnick, Frank, employ math for Business, Economics and mixer Sciences. 4. Dowling E. T. , mathematics for economists, Schum series (latest edition). 5. Weber E. Jean, Mathematical Analysis, Business and Economic Applications (Latest Edition) harper and Row Publisher s, wise York. newspaper publisher 4. STATISTICS FOR ECONOMISTS Topic 1 substructureDescriptive and inferential statistics Variable and constant, community and sample, parameter and statistic The quartette basic activities in statistics Designing a plan for info collection, Exploring the data, Estimating an unknown quantity, Hypothesis examination Type of measurement scales Nominal, Ordinal, separation and Ratio Types of data Univariate, Bivariate and multivariate data, Primary and secondary data, Quantitative data and qualitative data, measure series, Cross-sectional and pooled data Significant digits and rounding off number Errors Biased and un parti prised.Topic 2Presentation of information and Measure of Central Tendency cosmos Classification Tabulating numerical data The oftenness diffusion, The accumulative frequence distribution, The relative frequency distribution, The voice frequency distribution Graphic and platmatic representation Bar chart, Pie chart, Histog rams, relative frequency curves and Histo-grams Histograms by Hand Stem-and-leaf.Measure of central end presentment Types of Averages Mean Arithmetic designate, nonrepresentational close, Harmonic typify, Trimmed convey and Winsorized mean Quintiles Median, Quartiles, Deciles, Percentiles The mode Box plot and elaborated box plot Empirical coition between Mean, Median and Mode The cumulative distribution function purpose the centile ranking for a given number, Finding the percentile for a given percentage Summary measures and type of data. Topic 3Measures of Dispersion, Skewness and Kurtosis domineering and relative measure of scattering Different measures of dispersion The Range, Quartile variability, Mean deviance, chance variable and hackneyed deviation Definition and interpretation of unevenness and standard deviation, Computation of variance and standard deviation, Step deviation method or coding method, Coefficient of variation, Standardized variable, Properti es of standard deviation and variance Skewness Karl Pearsons coefficient of skewness, Bowleys coefficient of skewness Kurtosis. Topic 4 chance and Probability dispersionA gaze of prospect concepts Classical fortune, Empirical concept, Subjective prospect approximately rules of probability Rules of addition, Rules of multiplication channelise diagrams Conditional Probability, Bayes Theorem Counting rules The multiplication formula, The permutation formula, The combination formula. Discrete probability distribution, Random variables, Discrete random variable, free burning random variable The mean, variance and standard deviation of a probability distribution binomial probability distribution, and its computation.Cumulative probability distributions, Properties of Binomial probability distribution. The popular probability distributions Properties of usual distribution, Applications of the standard normal distribution, aras under the normal curve, Finding areas under the nor mal curve The normal approximation to the binomial tenacity correction factor. Topic 5 work sample and Sampling diffusionsSampling the nation, Advantages of sampling, Representative samples, exemplification design and sample survey, Sampling frame, Probability and non-probability sampling, Sampling with and without replacement, Sampling and non-sampling faulting, sampling bias Probability sampling and non-probability sampling methods Sampling distribution of the mean The central terminal point theorem Sampling distribution of differences between content Sampling distribution of sample analogy Sampling distribution of differences between proportions.Topic 6 tenderness and Confidence Intervals Point visualises and self-confidence separations Estimation by confidence breakup Confidence musical interval estimate of a population mean (Known variation), Confidence interval estimate of a population mean (Unknown Variance) Confidence interval for differences of means, Confide nce interval for differences of means Confidence interval for population proportion, Confidence interval for differences between proportions atomic number 53 sided confidence interval sampling size of it for estimating population mean.Topic 7Hypothesis test One sample test of hypothesis One Sample One undersurface and two tails tests of moment testing for a population mean with a known population standard deviation Two-tailed test, one-tailed test P- determine in hypothesis testing Testing for a population mean Large sample, people standard deviation unknown Testing hypotheses about population proportion when sample size is vauntingly Type II error. Testing of two Sample Hypothesis Population means, Population proportions comparing populations with small samples.Topic 8Chi Square Applications intromission rightness-of-fit test pertain judge frequencies Goodness-of-fit test Unequal expected frequencies Limitations of Chisquare development the goodness-of-fit test to te st for normality Contingency dodge Analysis. Topic 9Analysis of Variance Introduction, The F distribution Comparing two population variances ANOVA assumptions ANOVA test Inferences about pairs of treatment means two-party analysis of variance. Topic 10 simple one-dimensional turnaround and coefficient of coefficient of correlation AnalysisScatter diagram Standard methods for obtaining simple regression line (i) Inspection, (ii) fishing tackle average, (iii) Least squares principle Assumptions underlying linear regression Measures of variation Standard error of the estimate, Coefficient of determination Prediction in fixing Analysis Interpolation verses extrapolation Correlation analysis Scatter diagram The coefficient of coefficient of correlation coefficient Properties/ lineament of coefficient of correlation, Correlation and causation The relationship among the correlation coefficient, the coefficient of determination and the standard error of estimate Inference about th e slope and correlation coefficient t-test for the slope, F- test for the slope, t-test for correlation coefficient Estimation of the mean value and predication of individual determine Confidence interval and predication interval estimate Rank correlation. Topic 11 eight-fold analog simple regression and Correlation AnalysisMultiple linear regression model, rendition of partial regression coefficients Estimation of five-fold linear regression model with two explanatory variables by using Least squares principle, Matrix approach, Deviation form Pitfalls and problems in denary regression Multicollinearity, Variable selection, Model misspecification Multiple standard error of estimate Coefficient of multiple determination (adjusted and unadjusted) Evaluating the regression equation apply a scatter diagram, Correlation matrix, world-wide test, Individual variable significance test, soft independent variables Multiple regressions in harm of linear correlation coefficients Multip le correlation and partial correlation Nonlinear regression models Dealing with nonlinear relationship and anisometric variability. Topic 12Applied Statistics major(ip) power topics, Un-weighted major power numbers plain aggregate index finger Weighted indexes Laspeyres footing index, Paaseches price index, Marshal- Edgeworth price index Fishers ideal index Consumer Price Index (CPI), 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 inclination temporal trend alternating(prenominal) variation, Seasonal variation, Irregular variation Smoothing the annual time series and using it in judgeing Moving averages, Weighted moving averages, Exponential smoothing victimisation trend and seasonal worker component in forecasting time series and forecasting The mul tiplicative model, shrewd the seasonal indexes, De-seasonalization the time series, Using deseasonalized time series to identify trend, Seasonal adjustments, Model based on monthly data, rotary component example cyclic carriage using box-Jenkins ARIMA processes Using regression analysis in forecasting qualitative approach to forecasting Delphi method, Expert judgment, Scenario writing, Intuitive approaches Choosing an enamor 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 Business and Economics (11th edition). capital of Massachusetts 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. , applicatory Business Statistics (5th edition). Boston McGraw Hill, 2003. 4. new(a)bold, Paul, Carlson, William L. and Thorne, Betty M, Statistics for Busin ess and Economics (5th edition). saucy Jersey scholar Hall, 2002. 5. Keller, Gerald and Warrack, Brian, Statistics for instruction and Economics (5th edition). Boston Duxbury Thomson Learning, 2000. Additional Readings 1. Berenson, Mark L. , Levine, David M. and Krehbiel, Timothy C. , base Business Statistics Concepts and Applications (9th edition). impertinently Jersay assimilator 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 statistical Methods for Business Economics and amicable Sciences (Latest edition). New Jersey Prentice Hall. 4. Moore, David S. , The Basic confide of Statistics (2nd edition). New York shriveman,2000. newspaper publisher 5. ISLAMIC economics Note The instructor concerned may assign additional and latest publications on the subject matter. The references provided at the end of the course are just fate lit. Stude nts must consult additional literature on each national. Topic 1Introduction Muslim Economics i) Nature, and brilliance of Muslim Economics.Muslim Economics Versus Economics of Secular Economy and Mixed Economic placement. ii) apprise Introduction of Basic Values of Islam Taqva, halal and Haram, judge, Benevolence, Equality, Brotherhood and Cooperation as Determinants of Economic Behaviour and Policies. Topic 2 study Economic Thoughts Contribution of Scholars Contribution of some foregoing Muslim Scholars in the knowledge of Moslem Economics ( imaum Abu Yousuf, Imam Abu Ubaid Al Qasim,, Ibn-e-Khaldoon, Imam Ibn-e-Taimiah, Shah Waliullah Dehlvi, Baqar-al-Sadar). Topic 3 Moslem Economic arranging Silent features of Muslim Economic System objectives, Economic Freedom, Property and self-will Rights. The Concept of Equality and Efficiency.The Relative importance of Capital and Labour. Priority to Basic motivations. Concepts of Ownerships and Implication. eudaimonia and inco me Distribution. Comparison of Muslim Economic System with Capitalism and accessibleism, with respect to above cited principles / values of Islam. Topic 4Microeconomics in Moslem Framework The Consumer Behaviour in Islam. Utility, Moderation, nonobligatory spending Behaviour. Organization of Production and behavioral Theories of Firms. Objectives and Behaviour of Firm in Muslim Economy. Business Ethics in Production and Marketing. Hoarding and Gains. Market Structure Monopoly and Competition, imagery Allocation in Muslim surroundings and Cartels.Concepts of elegant handicraft. Stockists / Wholesales, determination of Prices and Rate of conventionality Profit / Meeting of Losses. Price apparatus and tell billet in code 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 Moslem Economy Islamic Stress on Circula ting of Wealth. move against Concentration of Wealth. societal Justice in Islam. Rights of Labour, Distributive Justice expenditure of primer coat and Other Natural imaginativenesss and their Rewards. fictitious character of State in Distribution of Wealth.Topic 7Some Basic Macroeconomic Concepts Consumption, saving and Investment Functions in Islamic Environment. Determents of Islamic Consumption Function, Concept to Help others, offbeat and spiritual believes. Zakat and Usher. Topic 8Demand and Supply of Money and banking companying Gold Money, Paper Money and reference book Money. Western Justification of interest. Islamic Concept of Riba, its Implications and Alternatives. Functions of Commercial Banks in Islamic Framework. Central Banking and pecuniary 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 authority of Zakat and Social Justice. Zakat as a musical instrument in Fiscal Policy. Economic Role of Islamic State. Welfare consumption and limits. tax and Expenditure Items in Modern Islamic States. Beneficiaries of Zakat. The Tax Policy of Islam. Nature and desktop of Fiscal Policy in Islamic State (Taxation Policy). Expenditure Principles. consign of Taxes. Topic 10Economic objectning and teaching Concepts and Objectives of Economic knowledge in Islam. elections for information. Nature of Economic Planning in Islam. Topic 11The Islamisation Process In Pakistan The Islamisation of Banks. carrying into action of Zakat / Usher in Pakistan.A brief refresh of Changes in Economic Structure and Conditions Since the beatified Prophet (regarding Transport / communication, Business Forms, Production of Goods, Money and Banking). Topic 12New appear Issues and Challenges Current Situation and Proposed Changes. Islamic Vie w of internationalist Economic Institutions and Modes of external Cooperation. Islamic View of orbicularization. smell realisation of Goods, Merits and contend. Fair Prices Vs. Market Price etc. Books Recommended Basic Texts 1. Islamic Economics Theory and Practice, A Comparatice Study, 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, planetary Centre for inquiry In Islamic Economics, King Abdual Aziz Univ, KSA. References 1. Ahmad, Khurshid, (latest edition), Fiscal Policy and revenue Allocation in Islam, foreign Islamic University, Islamabad. 2. Anf A. Q. Mannan M. A. (1995), create a System of financial Instruments IRTI, Islamic maturation 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. Ch apra 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, take of Policy Studies, Islamabad. 6. Ghazanfar S. M. , (2003), Medieval Islamic Economic Thoughts, Routledge Publishers. 7. Khan M. Fahim, (1995), sympathetic Resource mobilisation Through the Profit, Loss share-out establish Financial System, IRTI, Islamic schooling Bank Jeddah. 8. Khan, Tariq ullah, (1996), Practice and Performance of Mudarba, A circumstance study of Pakistan, IRTI, Islamic suppuration Bank, Jeddah. 9. Khurshid, Ahmad, emptying of Riba Institute of Policy Studies, Islamabad. 10. Mahdi, M. Ahmad, (1995), Islamic Banking Modes for House Building Finance, IRTI, Islamic instruction 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 & Rehnu ma. , 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 ISSUES IN PAKISTAN ECONOMY Topic 1Overview of Pakistan EconomyDevelopment Experience, access codees, Policies and Outcomes. credit of Issues The era of 1950s, 1960s, 1970s, 1980s 1990s and 2000s. morphological Change and Sources of Growth. Emergence of Economic Issues, humans Resource Development, Unemployment, need, Income Distribution, Debt, Deficit etc. Growth with limited development in Pakistan. Topic 2Development Planning and Resource Mobilization clownish Development Policies and Priorities, major Targets of Develop Plans and Emerging Iss ues dribbles and Successes Mobilization of domestic help Resources Shortages, Deficits and Role of external Aid. Agricultural Vs. industrial Development Debate. Agricultural Adequacy.Topic 3agribusiness and industrial Development Emerging Issues cast of Agricultural and Industrial Development, land Reforms and Its Impacts, the Role of jet-propelled plane Revolution and its Impacts Present Status. Agricultural Price Policy and Income Tax. orbital harm of hand. Industrial Development Policies and Strategies. Development of Large and Small Industries. Value Added Manufacturing Goods Vs. Primary Goods Production. Agriculture Vs. attention Development Debate. Topic 4Sectoral Development, interlocking model and Unemployment Sectoral Priorities and Development Issues. valet Resource Development and Emerging Issues Population Growth, Labor Force Participation Rate and manipulation sort, Unemployment and Underemployment, Forecasting Manpower Needs and Employment. Strategies to fall upon unemployment.Criteria to Measure Unemployment / Underemployment magazine touchstone, 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 pot off. Topic 5external Debt and dependance Concepts of impertinent Aid and Debt. Borrowing Vs. internal Reserve Mobilization (failure). Size of overseas Debt, Debt Saving and its Impacts. Strategies to combat with High Debt Saving Policy, Foreign trade Promotion, Cutting non-development Expenditures, Rescheduling and its Impacts.Debt heed in Pakistan and Its Impacts. Debt Modeling and Future Implications. Topic 6 scantness and Income Distribution Pattern of Income Distribution Rural and Urban. Definitions and Approaches to Measure pauperisation Income Approach, Expenditure Approach, Basic Needs Approach, scantness of Participatory I ndex (POPI). How to fight Poverty Growth dodging, Basic Needs, Labor intense Investment Education / Training etc. and Social Action Plan (SAP) , its Role and Critical Review, Evasion of Policies / Strategies to trash Poverty and Improving Income Distribution Critical Evaluation. Neglect of Human Resource Development. Child Labor. Factors productiveness Issues.Topic 7Inflation, Foreign get by Deficit and Emerging Issues Sources of Inflation in Pakistan. Policies to Combat Inflation and their Impacts. mint Performance, Instability and its Impacts. Policies to Combat Deficit and craft Instability. WTO and Its Impacts. Reforms and Further Needs. expect Impacts of WTO and Challenges. basis of bargain Issues, Market nark 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 Liberalization in Pakistan, FerozSons, Lahore (2 004). 3.Chaudhary M. Aslam, Human Resource Development and precaution in Pakistan, Ferozsons, Lahore (1989). 4. Ishrat Hussain, Pakistan The Economy at the everlasting(a) Roads Past Policies and Present Imperatives, Oxford Univ. Press, Karachi, 1988. 5. Khan, Shahrukh R. , 50 Years of Pakistans Economy conventional Topics and coetaneous 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 reciprocal ohm Asia, Annual Report. 8. Saeed, Khawaja Amjad, The Economy of Pakistan, Karachi Oxford University Press, 2004. 9.Zaidi, Akbar, (1999), Issues in Pakistan Economy, Oxford Univ. , Press, Karachi. 10. institution Development Reports, population Bank. (NoteTeacher(s) must assign latest interrogation papers pertaining to each topic) M. A. Part II Paper 1. INTERNATIONAL TRADE guess AND FINANCE A) world(prenominal) Trade Theory Topic1. enormousnes s and Bases of Trade why Study transnational Economics? The Changing World and interdependency Basis of Trade, Gains from Trade. Absolute Advantage, comparative degree Advantage, Overview of comparative Advantage and Pattern of Trade. Offer Curves and Free Trade Equilibrium. Disagreements on Free Trade Overview of Emergency of multinational Trade Issues.The snap fastener of Exports Demand and Balance of Payment. Substitution and Income Effects, Impacts of bring up 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 transference Problem Marshall Plan and enchants, Transfer of Resources Neutral Case. Topic 3. Technology and Factor talent Ricardian Trade Model, World Production and Gains. Comparative Cost and Trade Pattern. National and World Gains from Trade. International Wage differentials and Productivity. Technica l Progress and International Gains.WTO and Gains from Technical Progress Impacts on Prices. Equilibrium Production and Consumption Non-traded and Tradeables, Costs, marginal 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 loudness Comparison. Heckscher- Ohlin (H. O) Model, The Role of Demand, Factors Prices and commodity Prices, Factor Price Equalization, and Factor extravagance Reversal.Newly Industrializing Countries (NICs) and Footloose Production Process. NICs and H. O Theorem. The Product Cycle, Critical Analysis of conventional Trade Theories. Rypecksy Theorem and its critical review. Topic 5. Markets, Cartels and International Trade Monopoly and Import Competition, Export Opportu nities. Product Differentiation and Monopolistic Competition. Dumping / contrast and WTO, conflict and Market Share, Gains from Migration. WTO and Factors exertions and the Commodity Movement. transnationals Firms and Foreign engineer Investment, Transfer of Capital, Technology, Skill and other Gains, Transfer of Resources and Transfer Problem. Topic 6. duty, Quota and Trade Policiesduty 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 Laws, Tariff and game Best Choice, Subsidies and Quota, self-imposed Quota, Growth with Protection vs. Free Trade Gains and WTO. Managed Trade, Quantitative Restrictions, Voluntary Export Restrictions and Their Impacts. Trade Diversion and Preferential Arrangements. WTO Injury, Anti-dumping Duties, Ta riff and B. O. P arrest. Success and Failure of WTO Agenda. B)International Monetary Economics and Finance Topic 7.Foreign rallying Market and deputize Rate Determination Foreign Exchange Rates (F. E. R) What it represents? Real, Nominal and powerful Rates. Determinants of Foreign Exchange Rate. Efficient F. E. R Market. Dynamic Theory of Interest and Exchange Rate. The Theory of Spot Exchange Rate Determination. Capital give ear and Speculations. anterior 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. Monetar ist 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 undesired 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 Model of Payment Imbalances. Critical Review of the Modern 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. wherefore 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 differential gear amid Primary Goods Producer and Value Added Goods Producer, scrap Issue. WTO GATT and Emergency of WTO. why necessary to kernel WTO?WTO Expected Impacts on Trade, Liberalization and B. O. P particular(prenominal) Status of Developing Countries and kale Food Importing Countries. Protection s under WTO Rules. atomic number 18 Free Trade Gains more than restricted 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. wherefore 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 circumscribe Trade? Emerging regional Trading, Blocks, Special Preference and their Impacts. Issues relating to the Contributions of International Financial Institutions and Their Evaluations. Is in that respect need 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 an d 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, Brown 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 Competitiveness, 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 useS Topic 1Introduction Definition and scope of econometrics, econometric models vs. Statistical models Ingredients of econometric modelingSpecification, estimation, verification or evaluation and forecasting. Topic 2The Classical additive reversion Model (a)The Simple wrinklear Regression Model (SLRM) Estimation of SLRM by Ordinary Least Squares (OLS) Interpretation of envisiond Coefficients and their Economic 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 all. 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. sanative 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. curative 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 Single Equation Regression Model What is forecasting and what are its various types? consequential features of a good forecast. Variance of haughty forecast error. Variance of conditional forecast error. Measures for evaluating the forecasting power of a model.Topic 7 Errors in Variables, eon as a Variable, Dummy Variables, Grouped entropy, 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 recognition The problems of acknowledgement. Implications of the identification extract of a model. Formal rules for identification. Identifying restrictions. Tests for identifying restrictions. recognition and Multicollinearity. Topic 9Simultaneous Equations Models Why Simultaneous Equation Models? Vario us Types of simultaneous equation Models. The identification problem.Checking the identification state of a model or of a particular equation in the model by redact Condition, bogus equation and reduced from approaches. Identification and methods of estimation. Topic 10Consistent Estimation of Parameters of Simultaneous Equations Models substantiating Least Square Estimation. Two-stage Least Squares Estimation. subservient variables method of estimation. Topic 11 variable Coefficient Models Causes of Coefficient Variation. Randomly change Coefficient Models. Systematically Varying Coefficient Models. Topic 12Time Series Econometrics ARIMA Models. Comparison of forecasts based on ARIMA and Regression Models. Unit Roots and 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. canfulston, J. Econometric Models, M cGraw 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 morphologic Change, Cambridge University Press, 1998. 10. Griffiths, Judge, The Theory and Practice of Econometrics, John Willey and Sons, Latest edition. inquiry 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 possibility and econometric dynamics in modeling wages and prices in the fall in Kingdom, Empirical Economics, 24, (3), 483-507. 5. Joshua, Angrist, (2001), Estimation of Limited leechlike 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 theatrical role Demand A Bayesian Approach. Journal of Business and Economic Statistics, 12, (2), 221-31. 7. Manuel, Arellano, (1992), Female Labour Supply and On-the moving in Search 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 trashel selective information Monte Carlo Evidence and an Application to Employment Equation. Review of Economic Studies, 58 (2), 277-97. Paper 3. DEVELOPMENT ECONOMICS THEORY AND indemnity 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 prepared and canvass 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 reaching and New DevelopmentsDefinitions Economic Development and Growth, Identification of Development variables. Scope and Significance 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 Less Developed 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, brutal Circle of Pov erty, Stages of Economic Growth, Balanced and maladjusted Growth, Big Push Theory. Dependency Theory, Structuralists View Point.Endogenous Growth Theory New growth Theory. Income overlap/ Divergence, New Growth Theory. Market Friendly Approach. Topic 3 Agriculture and exertion Agriculture vs. Industry Development Debate. Lewis Model of surplus Labor. Rains Fei Model and its critical review. Transforming Agriculture, Underemployment problem. Role of Agriculture Market for Industrial Output, Provision of Input, food, Complementarity, productivity growth. 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 c ontributions. Investment in education 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 whirl Model, Aid commitments and disbursement. Sources of borrowing. Debt Cycle Theory/Stages. Debt Burden Debt Servicing, Debt laffer Curve, Debt buy 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 militarisation/Domestic resource mobilization, Debt rescheduling etc. Debt Modeling and Forecasting 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 Centered 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 shipway and Means. Global integrated production organization TNCs and Globalization, Foreign Direct Investment (FDI) and 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. Pover ty concepts/definitions. Absolute Poverty, Relative Poverty, Income approach, Expenditure approach, Basic involve 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 environmental cost, use of goods and services of Pesticides and environmental Impacts. Natural resources degradation. Cost of Pollutions/environmental degradation. International awareness about envir onment, production and need for Reforms. Economic thoughts and Environment. International Agencies Environmental concerns and programs. Urbanization and environmental issues. Sustained development, environmental science 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 Steady 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. Cypher J. M. and Dietz jam L. , (2004), The Process of Economic Development, Routledge.Tayl or Francis Group, London/New York. 5. Ghatak Subarta, (2003), Introd uction 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 Center for Human Development (MHCHD). Human Development in South Asia, Annual 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. , Economic Development in the third World. Latest Edition, Heinemann, London. 14. UNDP, Human Development Reports , Annual Reports. 15. Van Den iceberg lettuce H. , (2001), Econo mic 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 immenseness of inquiry Methodologies. query techniques in social sciences and their limitations. Theory and basis of research. Empirical and a priori research. Stages of research process. Identification of problem/issue, data, theory and estimation and related problems. Thinking, Field seek Designs the process of field research, Exploratory Research, unremarkable Inference. Methods of communication in survey. Vision survey and communication techniques. Art of asking questions and get quality information.Preparation of Research Proposal Que stionnaire, Sample Design the Nature of Sampling, Measurement and marking Measurement, Measurement Scales, the Characteristics of Sound Measurement, the Development of Measurement Tools, Scaling, the Nature of Scaling, Response Methods, Scale Construction. info Collection Methods, sketch 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 supplemental Data Sources, the Use of Secondary Data, Types of Secondary Data Sources, Statistical Sources, Data Research Procedures, Evaluating Secondary Data. Vision Survey Interpretation of Replies. Data Presentat ion and Analysis Elements of Analysis, Data Preparation, Special Data Problem, Tabulation, Data Presentation, and Data Analysis. Report typography the Questions and analysis of Research Proposal. Organization of Research Paper. How to format and put out country Research Report. Executive epitome 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. capital of Japan (Latest edition). 3. Johnson, Glenew Research Methodology for Economists Philosophy and Practice, McMillan publish Co. (Latest edition). 4. Kidder Louise H. , Research Methods in Social Relations. 5. Lambert, P. , (1985) Advanced Mathematics for Economists. Static and Dynamic Optimization, common basil Black Well. 6. Neum an 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. Young 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 composite Number and Circular Functions Imaginary and Complex Numbers. Complex Roots. Circular Functions. Properties of Sine & Cosine functions. Eular Relations.Alternative copy of Complex Numbers. Topic 2 constituent(a) Calculus Dynamics and Integration. The Nature of unfixed implicit in(p)s, Basic Rules of Integrations & Rules of Operation. The Substitution Rule and the Rule of Integration by Parts. Definite Integrals. Major Properties of Definite Integral. A Definite Integral as an Area 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 derived function Equations Continuous Time branch purchase order Linear first derivative EquationsMeaning and Definition Homogenous & non-Homogenous Cases. response of firstly Order Linear Differential Equation with unalterable Coefficient & regular Term and its Verification. Economic Application Dynamics of Market Price. ancestor and its Verification of First Order Differential Equation with Variable Coefficient and Variable Term. circumstantial Differential Equation, its response 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 Applicat ion 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 release Equations Discrete Time First Order inequality 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 Approach. Phase Diagrams Types of Time Path. A Market with a Price Ceiling. Topic 6 Higher Order Difference Equations Solution and Verification of S econd-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 tick Condition. Interpretation of Kuhn Tucker Condition. Kuhn Tucker Sufficiency Theorem Concave Programming. pointer Enthoven Sufficiency Theorem Quasiconcave Programming. Economic Application-Utility Maximization, Least Cost Combination. Solving a Nonlinear Program via the Kuhn-Tucker Conditions. Recommended Books 1. Chiang A. C. Fundamental Methods of Mathematical Economics McGraw Hill (3rd Edition) 1984. 2. Dowling Edward T. Mat hematics for Economics Schaum Series, 1981. 3. Glass Colin J.An accounting entry 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 University Library, 3rd Edition. Paper 5. 2 APPLIED ECONOMICS AND COMPUTER APPLICATION Topic 1Introduction to Windows 2000 and Ms-Word direct System, Perf ormance Management, Desktop Management, Printer Management, earnings Explorer, E-mail. MS-Word, using Advanced Formatting 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 shot Production Function etc. Topic 5Computer Applications Demand Supply & Equilibrium Estimation of Demand and Supply using E