Sunday, October 7, 2012


Total Marks – 100
Paper I
Marks – 100

1. Micro Economics: Consumer Behaviour, Determination of market demand and supply, theory of
the Firm, producer’s equilibrium pricing of the factors of production
2. Macro Economics: Basic economic concepts, National Income Accounting, consumption function
and multiplier, determination of equilibrium level of income and output, inflation
3. Money and banking: Functions of money, Quantity Theory of money, the Fisher and Cambridge
Formulations, systems of note issue, credit creation, functions and central banks, instruments of
credit control, Theory of Liquidity Preference
4. Public Financing: Government expenditure, sources of government revenue, types of taxes,
incidence of different taxes, public debt, objectives, methods of repayment, deficit financing
5. International Trade: Theory of comparative cost, arguments for protection, balance of payments,
international liquidity, international money and banking institutions
Paper II
Marks – 100
Pakistan’s Economy

1. Definition and measurement of development, characteristics of under development, rethinking on
the concept of development, Growth vs. Redistributive Justice, absolute and relative poverty,
basic needs approach
2. Planning experience of Pakistan: A critical evaluation of the strategy of economic planning
3. Agricultural development in Pakistan: Changes in agriculture policies over plan periods, major
monetary and fiscal measures to promote agricultural development, Green Revolution strategy
and its implications for growth and redistribution, Land Reforms and changes in the tenure
system 1950 – 1980, Cooperative Farming
4. Industrial development in Pakistan: Early industrialization strategy, creation of Financial and
Development Institutions, major monetary and fiscal measures to promote industrial
development, changing role of public sector over the plan periods, evaluation of nationalization
policy, concentration of industrial income and wealth
5. Role of foreign trade and aid in economic development. Trends of Pakistan’s Balance of
Payments, changes in direction of trade, trends in Pakistan’s major exports and imports, causes
of significant changes in the trends, the role of migration and remittances in Pakistan’s economy,
costs and benefits of Foreign Aid
6. Privatization, denationalization and deregulation, conceptual and operational aspects,
international comparisons

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