Economics
Vision
To achieve broad and increasing recognition of the excellence of academic programs among public and private institutions at the national and international level, and to equip students with skills to implement theoretical and applied research to contribute towards improving knowledge and resolving problems confronting the economy.
Mission
To enable the students to exercise their intellectual capacity, acquire disciplinary knowledge and analytical skills, value diversity in people and ideas, and develop ethical decision making abilities. To produce quality economists that will play a constructive role in different public, and private sector organizations, and research-based policy formulation. The learning environment is distinguished by admission on merit only, highly accessible faculty, teamwork, and information technology-supported education. The economics faculty places an emphasis on excellence in teaching through continuous professional development, as well as, in applied and theoretical economic research. Currently, the Department is offering graduate and postgraduate degree programs viz-a-viz BS, MPhil, and PhD.
Introduction
Economists focus on decision-making for efficient, equitable, and sustainable use of scarce resources. The prime focus is to achieve economic growth that raises standards of livings for broad swaths of a population and to promote development that includes marginalized people, and different sectors of the economy in social, political, and economic processes for increased human well-being, social and environmental sustainability, and empowerment. Economic theory provides deep insights into individual and social behaviors as well as a variety of contemporary issues. The employment prospects for economists are very wide as the importance of economics is inevitable. Students acquire problem-solving skills that are valued by the government and business community, techniques to examine a variety of socio-economic, climatic, and environmental issues. Our department is well-known for the excellence of its teaching and research, with a strong reputation for producing innovative graduates. The Department of Economics has developed curricula to meet present-day requirements. Formulation of policy alternatives by conducting solution-oriented research to assist the decision makers for uniform growth and developing manpower in line with the demands of local and international markets are the priorities of the Department. In this context, the Department of Economics is playing a key role to fill the gap in the availability of human resources that are required to improve the momentum of economic growth and eradicate socioeconomic evils.
Objectives
The prime objective of the Department is to produce graduates equipped with strong theoretical and applied knowledge of economics to work efficiently in various sectors of the economy.. All the academic programs of the Department of Economics have been carefully designed to fulfill the following specific objectives.
To offer quality programs that Maintain high academic standards, including core components to foster critical thinking, communication, and commitment to lifelong learning
To provide the opportunity for higher education to students from diverse backgrounds.
To assist students in developing, evaluating, and implementing employment decisions and plans by helping students to develop self-knowledge related to career choice and work preferences, providing educational and occupational information to guide students’ career and educational planning.
To develop their understanding of the world of work and link students with alumni, employers, and professional organizations. In addition to imparting classroom knowledge, the department strives hard to engage students in research activities.
Department has been actively involved in research-based activities with national and international organizations and has won projects in this regard. These projects help enhance capacity building and provide employment opportunities to students. Currently, three projects are running in the department. The project entitled “Estimation of transport energy demand and development of future pathways for greener Pakistan” under HEC NRPU2017 was won by Prof. Dr. Sofia Anwar (PI) and Dr. Syed Asif Ali Naqvi (co-PI). In the 2018 NRPU by HEC Pakistan again a project entitled “Socio-economic impacts of extreme weather events on the livelihood and adaptations to offset vulnerabilities for improving living standard in Punjab” was won by Dr. Syed Asif Ali Naqvi (PI) and Dr. Sofia Anwar as co-PI. Department has the honor also to participate in an international project “Strengthening Vegetable Value Chains in Pakistan (SVVSP) for greater community livelihood benefits (2018-2022)” funded by the Australian Center for International Agricultural Research (ACIAR) Through CABI and UAF. In the Marketing team, Dr. Sofia Anwar is working as Project Incharge -I along with Dr. Syed Asif Ali Naqvi and Dr. Abdul Majeed Nadeem as team members. The department has also contributed to the “Consultation on Economic Development Strategy (EDS) for Faisalabad” under the umbrella of The Urban Unit and United Nations Development Program (UNDP). A team comprising of Dr. Abdul Majeed Nadeem, Dr. Muhammad Sohail Amjad Makhdum and Dr. Syed Asif Ali Naqvi under the dynamic leadership of Prof. Dr. Sofia Anwar actively participated in the said project.