Course Contents

• Economic Development and its determinants: Meaning and definition of Economic Development, Distinction between Economic Development and Economic Growth. Measurement of Economic Development. Nature and Characteristics of a developing economy like Pakistan. • Characteristics of developing economics: Main obstacles to Economic Growth, Remedial measures for Economic Development in Pakistan. • Economic resources of Pakistan: Capital formation(Meaning of capital formation, sources of capital formation), Natural resources(Mineral resources in Pakistan, Energy situation in Pakistan, Water crisis), Human resources(Human capital and their role in economic development, unemployment, measurement and categories of unemployment , causes and remedial measurement to control unemployment) • Agriculture Sector of Pakistan: Classification of crops, Major and minor crops, role of agriculture sector in economic development, Causes of low yield per acre problems faced by agriculture sector • Industrial sector of Pakistan: SME and large industries in Pakistan, Reasons of industrial backwardness, Industrial policy • Foreign Trade and economic development: Characteristics of foreign trade, reasons of adverse balance of payment, Major imports & exports, Trade policy • Fiscal and Monetary Policy: Objectives and tools of fiscal policy, Federal/Government budget, Inflation and types of Inflation, Monetary policy, Role of State Bank of Pakistan, Tools of monetary policy, • Infrastructure: Ports and shipping, Roads, Railways, Pakistan’s communication networks, Pakistan International Airlines • Economic Planning in Pakistan: Meaning and types of economic planning, Objectives of economic planning

Course Synopsis

The objective of this course is to provide the students with in depth knowledge of Pakistan economy. Students will also be given a general overview of the diverse features, conditions and problems of the country. At the end of the course, the students should be able to have a perspective on policy matters regarding pertinent problems in developing countries.

Course Learning Outcomes

After the completion of this course, students would be able to • Develop knowledge of economic crisis of under developing countries like Pakistan. • Understand how economic concepts can assist in formulating and evaluating economic policy in developing countries to solve economic crisis.