contents

The Programme The faculty

Career Prospects

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The University Admission eligiblity guidlines Admission Criteria

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MSc economics

The Programme
The LUMS MSc Economics Programme has been designed to set a new standard in graduate level Economics education in the country and to meet the growing need for well-trained economists in both the public and private sectors. The programme provides strong grounding in theory and application, and is based upon a rigorous curriculum consisting of core and elective courses with the option of a Masters thesis. The core courses are Microeconomic Analysis, Macroeconomic Analysis, Econometrics and Research Methodology I & II and topics in Mathematical Methods for Economists. The elective courses are offered from the areas of concentration of the available faculty, which include topics in Development Economics, Trade and Development, Corporate Finance, Options, Swaps and Futures, Advanced Microeconomics, Applied Microeconomics and Growth Models, among others.

Who Should Apply?

Individuals wishing to pursue a career in Economics and related specialties Individuals planning to pursue doctoral studies in Economics, Public Policy and related disciplines Professionals from public sector, regulatory agencies and NGOs Mid-career professional economists Financial sector managers

Two-Track Programme Structure

The MSc Economics is a two-track programme. The one year track is aimed at applicants with a strong academic background in Economics and the two year track is aimed at candidates who do not have the adequate Economics grounding. The first year of the two year track requires candidates to develop a suitable background in Economics by successfully completing a required number of economics core courses. In the one year track students will be required to complete either 30 credit hours of course work, or 26 credit hours of course work and a Masters thesis (4 credit hours). Under the two-year stream, students will have to complete undergraduate level courses (28 credit hours) in the first year and 30 credit hours in the second year, same as in the one year track.

Research Facilities
LUMS realises its goal of becoming a cutting-edge research institute for the region and facilitates research for students and faculty alike. Its multi-disciplinary library serves faculty, students, researchers and staff of the university. Its collection is ideally suited to encourage and support both scholarly pursuits and practical research activities. Supported by state-of-the-art technology and systems, the library has an extensive collection of over 200,000 printed and 130,000 online books, 35,000 journals and 30,000 other materials including audios, videos, CD-ROMs, and DVDs, to facilitate various research and academic pursuits. The Data Resource Unit (DRU) is an online repository of data resources developed by the Department of Economics at LUMS to facilitate academic and policy oriented research in Pakistan. With a few exceptions, the data resources at the Department of Economics mostly consist of individual and household-level data. This data is collected from Pakistans household and labour force surveys, government surveys, financial and provincial development statistics and LUMS surveys. DRU allows the LUMS community instant access to datasets pertaining to millions of households and individuals. It is accompanied by documentation in the form of original questionnaires and additional materials e.g. code books and section-wise description of data sets. This exhaustive hub of data resources is constantly being updated. Presently, about 90 datasets are available in SPSS and Stata format.

MSc economics

The Faculty
SCHOOL OF HUMANITIES AND SOCIAL SCIENCES

The MSc Economics faculty comprises of PhDs from some of the worlds finest institutions. Regular involvement in international conferences and publications keeps LUMS faculty abreast of global education trends. Moreover, eminent visiting scholars further diversify and enrich the learning experience at LUMS.
Dr. Abid Aman Burki
Professor & Programme Director - MSc Economics PhD - Kansas State University Research Interests: Stochastic and DEA Frontier Efficiency, Productivity Change, Poverty and Income Inequality, Schooling and Child Labour, Industry/Sector Studies, Agricultural Development, Dairy Sector, Economic Development of Pakistan

Dr. Khalid Mir

Assistant Professor PhD University of Essex Research Interests: Child Labour and Globalisation, the Political Economy of Development: The Role of Institutions in the Transformation to Market Societies

Dr. S.M. Turab Hussain

Associate Professor & Acting Chair PhD University of Essex Research Interests: Trade and Development, Industrial Policy, Migration

Mr. Adeel Faheem

FF Teaching fellow MSc Toulouse School of Economics Research Interests: Industrial Organisation and Development Economics

Dr. Syed Muhammad Hussain

Assistant Professor PhD University of Rochester Research Interests: Macroeconomics, Labour Economics, International Economics

Ms. Kiran Javaid

FF Teaching fellow MSc LUMS

Dr. M. Farooq Naseer

Assistant Professor PhD Yale University Research Interests: Development Economics and Applied Microeconomics

Ms. Lyyla Khalid

FF Teaching fellow MSc University College London

Dr. Antonio Marasco

Assistant Professor PhD Radboud University Research Interests: Development Economics, Political Economy, Applied Microeconomics

Dr. Syed Zahid Ali

Assistant Professor PhD McMaster University Research Interests: Macroeconomics, Monetary Economics

Ms. Nadia Mukhtar

FF Teaching fellow MSc LUMS

Dr. Mushtaq A. Khan

Dr. Hadia Majid

Assistant Professor PhD Ohio State University Research Interests: Household Economics, Microeconomics, Development Economics

Dr. Hammad Siddiqi Al-Sabah

Associate Professor PhD Northern Illinois University Research Interests: Financial Market Puzzles, Incorporating Insights from Psychology into Economic Models, Behavioural Game Theory and Inter-Linkages between Business Cycles and Economic Growth

Dr. Kashif Z. Malik

Assistant Professor PhD Florida State University Research Interests: Macroeconomics, Empirical Macroeconomics

Assistant Professor PhD Kansas State University Research Interests: Mr. M. Usman Khan Labour Economics, Applied Econometrics Teaching fellow and Agriculture Economics MPhil University of Cambridge Dr. Rashid Memon Research Interests: Private Sector Development, Industrial Associate Professor Policy, Economic Growth, Strategy and PhD New School University Competitiveness of Industrial Sector Research Interests: Labour Economics, Development Ms. Nazish Afraz Economics, Economic History, Teaching fellow Microeconomics MSc London School of Economics Dr. Syed Ali Hasnain Research Interests: Policy Evaluation, Impact Assessments and Assistant Professor Network Effects Particularly Pertaining to PhD George Mason University Developing Countries Research Interests: Lab & Field Experiments, Governance, Market Design, Economic Analysis of the Law

Ms. Kiran Naseer

FF Teaching fellow MSc LUMS

Ms. Farah Shahid Hassan

FF Teaching fellow MSc LUMS Research Interests: Agricultural Economics

Ms. Sarah Hayat

FF Teaching fellow MSc London School of Economics and Political Science

Ms. Sahar Amjad

FF Teaching fellow MSc University of Cambridge

Ms. Ushna Akber

FF Teaching fellow MSc - LUMS

MSc economics

Core Courses for the first year of the Two Year track
Fall Semester

Career Prospects
Graduates of the MSc Economics Programme have the option to either seek jobs in the public and private sectors in Pakistan or to pursue higher studies overseas. The Career Services Office (CSO) assists graduates in seeking placement and applyling for higher studies. LUMS graduates have established themselves as highly marketable individuals with a diverse set of relevant skills. Assistance provided by the institute helps students make informed career choices. Development, banking, education, research and consultancy are some of the sectors that actively seek LUMS MSc Economics graduates. The degree concentrates on various areas of Economics, Public Policy, Finance and Development.

Principles of Microeconomics (4 units) Principles of Macroeconomics (4 units) Statistics and Data Analysis (4 units) Mathematics for Economists (4 units)
Spring Semester

Intermediate Microeconomics (4 units) Intermediate Macroeconomics (4 units) Econometrics (4 units)

Courses for the One Year Track/ Second Year of the Two Year Track
Fall Semester

Research by Students
1. Minahil Zafar (2012) 7. Mehreen Burki (2011)

Microeconomic Analysis (4 units) Econometrics and Research Methodology 1 (4 units) Topics in Mathematical Methods for Economists (3 units) Elective 1 (4 units)
Electives available in the fall semester:

The Effect of Water Quality on Water Bourne Diseases in Pakistan

2. Rubab Tayyab (2012)

Agglomeration Economies and Technical Inefficiency of Firms in Pakistans Manufacturing

8. Maham Niazi (2011)

The Impact of Tax Laws and Exchange Rate Premiums on Worker Remittances in Pakistan
3. Sahar Shah (2012)

Comparing the Role of Domestic and International Institutions in Attracting FDI to Low Income Countries
9. Muhammad Tahir Ali (2010)

1. Trade and Development 2. Options, Swaps and Futures 3. Growth Theories

Spring Semester

Impact of Efficiency Wages on Technical Inefficiency and Productivity of Manufacturing Firms in Pakistan
4. Amina Riaz (2012)

Trends and Sources of Total Factor Productivity Growth: District Level Analysis of Pakistani Agriculture
10. Kiran Naseer (2009)

Macroeconomic Analysis (4 units) Econometrics and Research Methodology 2 (3 units) Elective 2 (4 units) Elective 3 or Masters Thesis (4 units)
Electives available in the Spring semester:

Public Sector Investments and their Effects on Rural Poverty in Pakistan

5. Warda Rasool (2012)

How Well Do We Understand the Causes of Rural Poverty? Impact of Household Size, Assets and Regional Indicators on Poverty
11. Sobia Malik (2009)

1. Topics in Development Economics 2. Applied Microeconomics 3. Corporate Finance 4. Advanced International Finance 5. Financial Markets and Institutions

Does Trade Liberalization Affect Male-Female Wage Differentials: Evidence from Pakistan
6. Sidra Mazhar (2012)

The Impact of Chronic Disease on Food Poverty: Empirical Evidence from the Panel Data
12. Isa Khan (2009)

Redefining Self: Using Concepts of Altruism and Reciprocity

Do Foreign Remittances and Household Wealth Affect Child Labour? Evidence from Pakistan

MSc economics

13. Tahreem Hussain (2009)

Capital Account Liberalisation Under Asymmetric Information

14. Ayesha Rasheed (2009)

The University
Established in 1985, Lahore University of Management Sciences ranks amongst the top universities of Pakistan, with a strong dedication to the advancement of knowledge in a broad range of disciplines as its guiding vision. LUMS prides itself on its exceptional faculty and choice of subject offerings including Business Management, Sciences and Engineering, Humanities, Social Sciences, Economics and Law among others.

SCHOOL OF HUMANITIES AND SOCIAL SCIENCES

Exploring the Link Between Economic Growth, Foreign Direct Investment and Human Capital: Evidence from Low Income Countries
15. Azma Batool (2009)

Do Household Characteristics Matter in Dynamic Poverty Determination? Evidence from Pakistan

16. Fariha Fatima (2007)

Campus and Facilities

The LUMS campus is spread over 100 acres and is fully equipped with numerous modern day facilities for students. It is adjacent to the Defence Housing Authority (DHA), a developed suburb of Lahore with several restaurants, hospitals and other facilities. The Allama Iqbal International Airport is also in close proximity to the campus. In accordance with the Universitys mission, the campus has been carefully planned to provide excellent facilities to students and to create an environment that is conducive to learning. Some of its features include excellent classrooms, an up-to-date library, state-of-the-art laboratories, on-campus housing, a mosque, integrated sports and recreational facilities.

Income Polarisation and Inequality in Pakistan: A Comparative Analysis

17. Sabbah Rahooja (2007)

Determinants of Housing Demand across Income Groups in Pakistan

18. Muneeza Alam (2006)

The Impact of Social Influence on the Ultimatum Bargaining Outcome

19. Mariyam Saeed (2005)

Residential Colleges
To increase interaction and understanding between newly inducted and existing students, and to encourage personalised interaction with mentors, LUMS has adopted the Residential College model. A Residential College is an independently governed community within the university and acts as a faculty-led society for both hostel residents and day scholars. Presently there are four Residential Colleges functioning at LUMS. Each Residential College plans activities and social events for students to build a more cohesive environment and sense of community.

Pakistan: Structuralisation of Industrial Policy

20. Aliya Sattar (2004)

Deletion Policy of the Automobile Sector of Pakistan: What Does WTO Have in Store?
21. Atif Ikram (2004)

Societies
Corporate Governance in Pakistan: Rationale, Issues and Concerns
22. Aisha Shafique (2003)

Explaining Total Factor Productivity Change for Commercial Banks of Pakistan

Students are encouraged to take part in a number of student-run clubs or societies, catering to a diverse range of interests. Whether it is the LUMS Adventure Society (LAS), the LUMS Entrepreneurial Society (LES), the LUMS Model UN Society (LUMUN), or Sports at LUMS (SLUMS), students are made to feel part of the LUMS community through a wide range of activities arranged by the societies.

MSc economics

Admission Eligibility Guidelines

Admission to the MSc Economics Programme is based entirely on merit. Applicants will be assessed on the following factors: l Academic record l Performance in the Admission Test(s) l Submission of a completed application form and all required supporting documents l Letters of recommendation Note: -Direct admission does not mean that the students will be directly admitted. They will only be exempted from all the tests and admission will be based on merit LGAT is offered as an internal test of LUMS. LUMS -Please note that the deadline to apply for the Fall Graduate Admission Test (LGAT) is comprised 2013 session is April 16, 2013 of quantitative, verbal, and analytical sections. Test format is typically based on Multiple Choice LUMS Graduated Students Questions (MCQs). LGAT will be conducted LUMS students, who have graduated on and before simultaneously in Lahore, Karachi and Islamabad June, 2012, are required to take LUMS Placement according to the dates specified at LUMS website. Test for MSc Economics and LGAT or GRE. GRE is offered as a computer adaptive test worldwide. Apart from official test scores that Estimated Fee 2013-2014 LUMS will require directly from Educational Testing Graduate tuition fee for the MSc program at LUMS Service (ETS) USA. Applicants must submit or mail is based on credit-hours. For 2013-14 the cost a copy of the unofficial GRE scores as soon as they per credit-hour is PKR 18,250.The actual cost of take the test. The LUMS code for receiving GRE studying at LUMS will vary by student depending on course load, on-campus accommodation, year, scores from ETS is 0679. LUMS Economics Placement Test will be based and indirect expenses such as books, supplies, on Intermediate Microeconomics, Intermediate transportation, personal expenses, etc. and any Macroeconomics and Basic Econometrics. The financial aid received. Placement Test will be conducted simultaneously Based on a typical full-load student (12 credithours per semester), the estimated tuition fee will in Karachi, Lahore and Islamabad. be PKR 219,000 per semester (this comes out to Information for LUMS PKR 438,000 per year or PKR 36,500 per month). Undergraduate Students Details of the exact fee schedule for 2013-14 are Continuing Students (4+1 BS-MS Programme) available at our website at: lums.edu.pk. Students should have sufficient course work in The estimated fee for an incoming student in 2013Economics and should meet the following criteria: 2014 will be as follows: PKR l SCGPA of 3.00 or above in Economics and Admission 43,000 l SCGPA of 3.00 or above in Mathematics Security (Refundable) 15,000 Registration 32,500 Direct admission will be suited to the following majors: Tuition Fee 438,000 1. Economics Total 528,500 * Admission and Security are one-time fees applied 2. Economics and Mathematics only in the first semester. 3. Economics and Political Science All applicants applying to the MSc Economics (One-year) Programme must take the LUMS Economics Placement Test in addition to the above mentioned test(s).

Academic Record
Applicants are eligible to apply for admission if they fulfill one of the following academic qualifications: l Minimum of sixteen (16) years of education leading to a Masters or Bachelors (four-year) degree recognised by the Higher Education Commission (HEC), Pakistan; l Three-year Bachelors degree from an international university recognised by the Higher Education Commission (HEC), Pakistan. Note: l Candidates who have obtained their degrees from institutions that are not listed with the Higher Education Commission (HEC), Pakistan will be required to obtain an equivalence certificate from the HEC. l Applicants with insufficient training in Mathematics/Economics are strongly advised to apply for the two-year option. The final decision regarding eligibility for the one-year or two-year programme will be taken by the Admissions Committee.

Admission Test for MSc Economics

Applicants can either take LUMS Graduate Admission Test (LGAT) or Graduate Record Examination (GRE) in order to be considered for admission.

For more details regarding admission criteria and fee structure please visit our website www.lums.edu.pk