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UNIVERSITY OF THE PUNJAB, LAHORE

COURSE OUTLINE
Lubna Uzair
lubnauzair@hcc.edu.pk
Program B.com (Hons)
Name of the Course Economic Issues of Pakistan
Course Number BC-214
Credit Hours 3: Three Hours Per Week
Category Core
pre-requisites Micro Economics (BC-313) & Macro Economics (BC-403)
It is expected that after completing this course student will enable
to:
✓ Understand and comprehend the sector wise real issues of the
economy of Pakistan
✓ Have a comprehensive insight into the past and current
Aims and Objectives policies of the Government of Pakistan, State Bank of
Pakistan and Ministry of Finance
✓ Go through the data available in the latest Economic Survey
of Pakistan and the federal government’s Budget documents,
to know and understand the use or application of that data in
future academic or business research
MID TERM:
1. Understanding Economic Growth and Development
Three
➢ Defining and understanding Economic Growth and Development
lectures
➢ Difference between Economic Growth and Development
➢ Factors of Economic Development
2. Introduction to Economy of Pakistan
➢ Overview of Economic Survey Two
lectures
3. Story of Development
➢ Laying Foundations 1947-1958
➢ The Decade of Development 1958-1968
➢ The bad luck Years 1971-1977
➢ The Second Military Government 1977-1988
➢ Neo Liberalism, Structural Adjustments, 1988-1999
➢ Lifestyle Liberalism, Dictatorship, War and Subjugation 1999-2007 Five
➢ Democratic Transition 2007 to Onwards Lectures
4. Agricultural Sector
➢ Past Performance and Present Status

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➢ Food security Five

➢ Productivity of Land lectures
➢ Water Management
➢ Price Support Policy; Agricultural Inputs and their impact on Cost of
Production
5. Industrial or Manufacturing Sector
➢ Past Performance and Present Status
Four
➢ SME and Cottage Industry lectures
➢ Industrial Policy
➢ Structure of Manufacturing Sector
➢ Public-Private Partnership and Privatization
Three
6. Service Sector Lectures
➢ Transport
➢ Communication
➢ Energy
Two
Over View of all topics, discussions and tutorial before mid-term exam Lectures
Final Examination:
7. Foreign Trade Eight
➢ Foreign trade of Pakistan: Past and Present lectures
➢ Balance of Payments and Trade
➢ Major Exports and Imports with direction of trade
➢ Trade Regimes
➢ Bilateral and Multilateral Trade Agreements
8. Fiscal Policy Four
lectures
➢ Structure of public finance in Pakistan: Government receipts and
expenditures: Sources of revenue in Pakistan
➢ Structure of taxes in Pakistan
➢ Current Federal Budget
➢ National Finance Commission Awards: Summary of all awards from
1974 to most recent
➢ Public Debt (External) and Debt Management Strategies of Pakistan
9. Monetary Policy and Inflation Two
➢ Monetary policy and monetary management in Pakistan lectures
➢ Inflation and its causes
10.Social Sector

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➢ Education and Skill Development: Issues; Basic Education; Vocational

and Technical; Higher Education; Four
lectures
➢ Health: Issues in Health Sector; Environmental pollution and Human
Health; Housing: Issues and Remedies
➢ Poverty: Definitions; measurement and alleviation strategies; HDI
(Human Development Index)
11.Other Vital Challenges / Issues of The Economy:
➢ Money Laundering Three
lectures
➢ Brain Drain
➢ Governance and Accountability
12.International Scenario:
➢ WTO and Pakistan
Two
➢ SAFTA and Regional Cooperation (Optional)
lectures
➢ Role of Direct Foreign Investment in Economic Growth of Pakistan
(Optional)
➢ International Financial and Economic System and its Implications for
Pakistan (Optional) One
Lecture
Over View of all topics, discussions and tutorial before mid-term exam
Text Book 1. Akbar Zaidi, “Issues in Pakistan’s Economy” Third Edition
Prescribed: (2015), Oxford University Press, Karachi
2. Saeed, Khawaja Amjad, the Economy of Pakistan, Karachi:
Oxford University Press, Latest Edition.
3. Economic Survey of Pakistan (Latest). Ministry of Finance,
Government of Pakistan, Islamabad
4. Pakistan under IMF shadow” by Fasih Uddin
Recommended 5. Government of Pakistan. The five-year Plan
Books/Sources: 6. State Bank of Pakistan, Quarterly and Annual Reports.
7. Pakistan Golf and Economist (The Economist)
8. Daily Business Recorder
9. Daily The Dawn Editorial and Business Sections
10.Federal Bureau of Statistics (Statistical Survey)
11.Yearly World Bank Reports (Latest Edition). Oxford
University Press, Washington D.C.
12.Reports of State Bank of Pakistan. State Bank of Pakistan
Publications, Karachi
13.Reports of Statistical Division of Pakistan. Government of
Pakistan, Islamabad

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Quizzes: Quiz 1 & 2: 10 marks each

Quiz 1 Description: 10 marks; MCQ type; based on the
facts/figures/ statistics and their interpretation (discussed in class)
related to economy of Pakistan
Quiz 2 Description: 10 marks; MCQ type based on the facts/figures/
statistics and their interpretation (discussed in class) related to three
major sectors of Pakistan
These two quizzes will ensure either the desired objectives achieved especially
objective number 3
Quiz 3 Description: 10 marks; short essay on given topics
Quiz 4 Description: 10 marks; short argument-based essay on any
statement in favor or against
Additional I. Husain Akmal, Dr. and Others. Pro-Poor Growth and
Resources: Governance in South Asian Economies.
II. Hussain, Dr. Ishrat. Pakistan: The Economy of an Elitist
State. Oxford University Press, Karachi
III. Kardar, Shahid. Political Economy of Pakistan. Progressive
Publishers, Lahore
IV. Khan, Shahrukh R., 50 Years of Pakistan’s Economy
Traditional Topics and Contemporary Concerns. Oxford
University Press, Karachi, Latest Edition.
V. Chaudhary M. Aslam and Ahmad Eatzaz: Globalization,
WTO and Trade Liberalization in Pakistan, Feroze Sons,
Lahore, Latest Edition.
VI. Nasim Anjum (ed.) Financing the Development Priorities of
Pakistan in 1990’s. LUMS, Lahore
VII. Poverty Alleviation Strategies of Government of Pakistan,
Government of Pakistan, Islamabad - Latest Edition
➢ Lectures.
➢ Handouts (hard or soft copies are attached).
Teaching Strategies ➢ Group Discussions.
➢ Presentations.

Sessional Final
Mid-Term
Examination
25 % 35 % 40 %
Assessment Criteria Quizzes=40
Assignment= 25 Paper (1 hour and
Paper (2 hours)
Presentation=25 in form 30 minutes)
of group discussions,

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Attendance,
Class Participations and
discipline=05
Bonus=05
Read and discuss economic news frequently from (i) The Economist
(ii) Business Recorder (iii) Dawn Editorial and Business Sections
for getting bonus marks, also submit the copy of that news to share
Recommendations with class and for record keeping along with your name and roll
numbers.
Note: For the interest and knowledge of students a series of
newspaper article are attached along with this.

*Sample of Weekly Lecture plan with Learning Outcomes/Objectives (To attached

separately here)

Weekly Lesson Plan

Week Lecture Topics Objectives/Learning Outcomes
01 Defining and understanding Economic Growth and Enable students to understand the two very
Development common concepts used in daily life, in
Difference between Economic Growth and media and in news in case of economic
Development comparison among countries. As we all
Factors of Economic Development (General) hears that “USA is developed country” or
Factors of Economic Development w.r.t to Pakistan “Denmark is developed country” or “China
Various Measures / Strategies to enhance Economic is emerging economy” or “Pakistan is
Growth developing economy”. So it is expected
that after completing this topic student will
enable to verdict about development or
under development of a country
02 Introduction to Economy of Pakistan: After understanding the economic growth
Laying Foundations 1947-58 and development student shall know that
The Decade of Development 1958-68 what actually happened in Pakistan. So after
The bad luck Years 1971-77 completing this topic students will enable to
The second military Government 1977-88 assess the economic growth and
development in Pakistan
03 Neo liberalism, structural adjustments, 1988-1999 Present an overall image of agriculture
Lifestyle liberalism, dictatorship, war and sector. Enable students to understand
subjugation 1999-2007 Strength, weakness, opportunities, and
Democratic Transition 2007 to onwards threats of this sector.

Quiz 1

04 Agricultural Issues: Past performance and present Present an overall image of agriculture
status sector. Enable students to understand
Food security Strengths, weaknesses, opportunities, and
Productivity of Land threats of this sector.
Water Management

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05 Price Support Policy; Agricultural Inputs and their Present an overall image of industrial
impact on Cost of Production sector. Enable students to understand
Industrial Issues: Past performance and present Strengths, weaknesses, opportunities, and
status threats of this sector.
06 SME and Cottage Industry Enable students to understand and
Industrial Policy comprehend the sub-sectors of
Export Industry vs. Import Substitution manufacturing sector and to know
Strengths, weaknesses, opportunities, and
threats of this sector.
07 Public-Private partnership
Quiz 2
Service Sector: introduction Enable students to understand and
Transport comprehend the sub-sectors of Service
Storage and Communication sector and to know Strengths, weaknesses,
Wholesale and Retail Trade opportunities, and threats of this sector.
Finance and Insurance
Housing Services (Ownership of Dwellings)
General Government Services (Public
Administration and Defense)
08 Private Services (Social Services). Understand and comprehend the service
Services Industry industry and will understand strengths,
Last Lecture: Revision/Exam preparation weaknesses, opportunities and threats.
09 Foreign trade of Pakistan: past and present After completing this it is expected that
Balance of payments and trade student will enable to analyze and
Major Exports and Imports with direction of trade comprehend the gains/loss from trade, trade
balance along with major partners of
Pakistan.
10 Trade policy Regimes Enable students to understand government
Bilateral and Multilateral Trade agreements acts in terms of trade policy in different
regimes. On the basis of this they can build
their own views regarding the policies were
efficient or not? either those policies solve
the issues or more worsen the problems.
11 Fiscal Policy Enable students to understand the roll of
Structure of public finance in Pakistan: Government Fiscal policy i.e. financial management and
receipts and expenditures structure of taxes
Structure of taxes in Pakistan
12 Current Federal Budget Enable students to know the current budget,
National Finance Commission Awards: Summary of and how federal receipts were divided
all awards from 1974 to most recent among provinces.
Public Debt (External) and Debt Management
Strategies of Pakistan
Quiz 3
13 Monetary Policy and Inflation To learn students the functioning of money,
Monetary policy and monetary management in and monetary management of SBP and
Pakistan monetary policy with reference to Pakistan
Inflation and its causes
14 Education and Skill Development: Issues; Basic To let the students have a comprehensive
Education; Vocational and Technical; Higher knowledge about the current statistics and
Education; real situation on these social aspects of the

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Health: Issues in Health Sector; Environmental economy

pollution and Human Health; Housing: Issues and
Remedies
Poverty: Definitions; measurement and alleviation
strategies; HDI (Human Development Index)
15 Energy Crisis in Pakistan To let the students have a comprehensive
Money Laundering knowledge about the current statistics and
Brain Drain real situation on these social/economic
Governance and Accountability aspects of the economy
Quiz 4
16 WTO and Pakistan To let the students have a comprehensive
SAFTA and Regional Cooperation (Optional) knowledge about the international economic
Role of Direct Foreign Investment in Economic relations, cooperation, membership and
Growth of Pakistan (Optional) policies of the Pakistan
International Financial and Economic System and its
Implications for Pakistan (Optional)

HAILEY COLLEGE OF COMMERCE | Lubna Uzair