Introduction

The department of Economics was established in 1950, and is now a well reputed teaching, research, and training institute. Besides the regular M.Sc, M.Phil/Ph.D Degree programme’s, the Department has recently started a B.Sc (Hons) Programme with a view of achieving academic excellence by way of opening up new vistas in the field of Economics. The Department is also running a Postgraduate Diploma Course in “Industrialisation, Trade and Economic Policy” with the academic support of the University of Strathclyde, UK, a three months Certificate course on “Project Planning and Evaluation,”, ”Operation Research” ”Applied Econometrics” and Computer Training Programme in afternoon. The Department has a well-equipped computer lab and a library with over 10,000 books.

Vision

The program of the Department is an effort to achieve academic excellence by way of opening up to new vistas in the academic, technical, managerial and professional experience in the field of economics.

Mission Statement

All the programmes of the Department is an effort to achieve academic excellence by way of quality education in Pakistan in general and in the North- West Frontier Province in particular. It is based on the market demand for a special blend of graduates who will combine in themselves the quality and know-how of economics.

 Objectives

Teaching, Research and Training

Outcomes

With the strong background knowledge about economics, the students find better jobs in the market, and are placed in well reputed organizations/institutions.

Courses

M.Sc (Previous)

Micro Economic Theory (Dr.Jehanzeb)
Here we study economic problems at smaller, individual level which enables the students to understand the concepts of consumer behavior, production theory, Market Organization, General Equilibrium and Welfare Economics.

Macro Economic Theory (Mr. Shafiquilah)
Macroeconomics is the study of the structure and performance of National economies and of the policies that governments use to try to effect economic policies. The issues that macro economists address are also focused.

Mathematics for Economist (Mr. Naeem ur Rehman Khattak)
In this subject, we study the use of mathematical methods and techniques in an effort to construct rigorous and logical economic theories. The actual tools employed in this pursuit include algebra, calculus, Algebraic methods, set theory and other branches of mathematics relevant to Economics. The use of mathematics to economics enables the students to understand concepts that are otherwise not clearly comprehensible.

Basic Statistics and Research Methodology (Dr. Ijaz Majid)
In this course, students are given the Basics along with advanced statistical tools and techniques, generally used in analyzing Economic data. Economics basically deals with both qualitative and quantitative information. This mass of information can only be better understood if properly analyzed and quantified, which can only be done if the analyst/Economist has sufficient and sound background of analytic tools and Techniques. This can only be done if proper coaching is done with statistical techniques.

Public Finance and Monetary Economics (Dr. Mohammad Naeem)
Public Finance deals with finances of the government. The main branches are public revenue, public expenditure, public debt and fiscal policy. Monetary economics deals mainly with the evolution, function and characteristics of money and its role and impact in the prevailing economic system. Alongside, it also discusses functions and role of commercial and central banks.

M.Sc (Final)

Students have to select one group out of two groups besides the subject of Econometrics, which is compulsory.

Econometrics (Compulsory) (Dr. Naeem-ur-Rehman Khattak)
This course deals with estimation and fitting of different regression models to economic data. The course mainly includes the topics of simple/multiple regression analysis, violation of basic assumptions, non-linear equation, generalized linear regression model and its applications, formulation and estimation of special models e.g. models with dummy variables simultaneous equation system, identification, ILS and 2SLS method for solution of simultaneous equation system.

GROUP I

Development Economics (Dr. Zalakat Khan Malik)
The study of economic development is one of the newest, most exciting and most challenging branches of the broader disciplines of economics and political economy. This is a systematic study of the problems and processes of economic development in Africa, Asia and Latin America. It deals with the economics of contemporary, underdeveloped third world nations, varying ideological orientations, diverse cultural backgrounds, and very complex yet similar economic problems that usually demand new ideas and novel approaches.

Managerial Economics (Dr. Jehanzeb)
Managerial Economics basically deals with the application of economic theory and the tools of analysis of decision science to examine how an organization can achieve its aims or objectives most efficiently. So, the basic emphasis will be on micro and macro economic theory and the tools of mathematical economics and econometrics.

The Economy of Pakistan (Ms. Naila Nazir)
The course covers many sectors of the economy like Agricultural Sector, Industrial Sector, Economic Planning and Policies in Pakistan, its natural resources and geographical position, ideological structure, foreign debts, trade, transport and communication and problems faced by nationalized and privatized sectors.

Agricultural Economics (Dr. Muhammad Munir (visiting)
The course being with a systematic introduction to the basic concepts and issues in economics as they relate to agriculture. The course focuses on gaining an understanding of the economic decisions made by consumers and producers. In part, it also focuses on macroeconomic policy and how agriculture is affected by policy responses to business fluctuations.

International Economics (Mr. Zilakat Khan Malik)
International Economics deal with International Trade Theory, International Trade Policy, The Balance of Payments, Foreign Exchange Markets and Open Economy. It highlights the problems arising in the international trade, international capital movement, and the operation of multi- national corporations and risk of economic collapse.

GROUP II

Economic Analysis of Project Planning & Management (Prof. Dr. Ijaz Majid)
If proper investment/programmes are to be carried out the subject of project planning cannot be overlooked. This subject basically tells us about the feasibility of investment projects. Projects are generally carried out both under the condition of certainty and uncertainty. This subject basically deals with different tools/techniques by which the student is enabled to analyse the feasibility of the project i.e. through financial analysis techniques generally used to prepare the feasibilities and pre-feasibilities of an investment project and finally to advise the govt., semi-govt., and NGO’s that whether a particular study should be undertaken or not.

Human Resource Development (Mrs. Danish Alam)
Human Resource Development encompasses activities and processes which are intended to have impact on organizational and individual learning. Main emphasis will be on Education, Training and Development, Leadership Development, Better Subordinate Superior Relations, Career Planning and Development, Various Job Experiences, Development of Technology and Job Enrichment.

Economics system of Islam (Ms. Naila Nazir)
This subject covers the main features of an Islamic Economic system in comparison of other economic systems. As the Islamic economics covers all aspects of Human life, including consumption, distribution, wages, rent, interest and production, therefore, its importance is increasing day by day. In this subject, we further study different modes of Islamic banking i.e. Mudarabas, Musharika, Monetary and Fiscal policies of Islamic system and social systems of Islamic Society.

Industrial Economics (Mr. M. Naeem)
The major thrust is the demonstration of how microeconomic theory applies to industrial markets. The course is aimed at students who are encountering the field of industrial economics for the first time. It focuses on the theoretical and empirical aspects of how structure of the organization and conduct affect economic performance and welfare.

Operational Research and Mathematical Programming (Dr. Naeem-ur-Rehman Khattak)
The subject will basically take into consideration the different types of programming techniques used for solving economics and mathematical problems. Emphasis will be on Linear Programming, Integer Programming and Non Linear Programming.