BS
Economics
Department
Economics
Level
Undergraduate
College
College of Economics & Social Development
Course Detail
This program is designed to provide students with a solid foundation in economic theory, quantitative techniques, and applied analysis. In a rapidly changing global and national environment, the program develops graduates who can understand and evaluate how markets function, how policies shape economic outcomes, and how organizations and countries respond to challenges such as growth, trade, development, and sustainability. Students will study core areas of microeconomics, macroeconomics, mathematics, and econometrics, while also exploring applied fields such as development economics, monetary and fiscal policy, international trade, and environmental economics. To broaden their academic and professional horizons, students have the opportunity to pursue minors in two areas: Data Science, Finance, International Relations, Media, and Psychology. The program also emphasizes practical exposure through a compulsory internship (3 credit hours) at an IoBM-approved firm, allowing students to connect theory with real-world applications. With 144 credit hours of comprehensive coursework spread over four years, the BS Economics program prepares graduates to excel in analytical/qualitative research in any sector of the economy, government, civil service, industry, and international organizations. Consistent with IoBM’s tradition of building Pakistan’s human capital, this program equips students with the knowledge, skills, and versatility to meet the pressing needs of the economy and to contribute meaningfully at both national and global levels.
Join IoBM’s BS in Economics program and become part of a new generation of economists and business leaders who will shape the future of Pakistan’s economy.
Learning Outcomes
- Students should not only be well familiar with economic theories and laws but also with applied economics.
- They should be able to enhance their contribution towards the growth of the whole country/economy.
- Students should be able to apply quantitative techniques and modeling to analyze key economic indicators for the performance of an organization.
- Students should be well equipped with mathematical/statistical/economic tools to demonstrate strong analytical and prob- problem-solving skills.
- They should be well-versed with E-Views, R, STATA, and SPSS software.
- Students should be able to produce a research paper or article independently in any journal of international repute.
- They should develop a thirst for research-based studies, like going for an M.Phil. or Ph.D.
- They can further set an example by achieving success in their lives for their juniors to go for research-based studies
- Students should be able to focus on the humanistic aspect of Economics w.r.t social sciences and its impact on society.
- Students should be prepared for future careers in our interconnected society, whether in mass media or advanced study
- Students should be able to analyze data, reports, and federal budgets critically.
- Students will be capable of analyzing fiscal, monetary, and trade policy to provide problem-solving solutions.
- Students should be able to get admission to institutes of international repute.
- They should get international or national scholarships.
- Understanding of the institutions, processes, constitutional background, and policy outcomes of the Pakistani government, and the ability to compare the Pakistani government to other countries around the world
- Knowledge of key theories and concepts, historical developments, organizations, and modern issues in international relations.
Career Path
- Policy analyst/Research Economist • Research Analyst/ Public Policy Consultant.
- Commerce Journalist/Content Developer
- • Urban/ Regional Planner
- Domestic and International Financial Institutions
- • Public Sector/Civil Service
- Development Sector/ Environmental Economist
General Courses
REL101 Islamic Studies
BCN101 Academic English
MAT110 Calculus and Analytical Geometry
CSC210 Applications of Info. & Communication Technologies
ETP101 Entrepreneurship
EEM101 Environmental Studies
STA203 Probability Theory & Statistics
BCN301 Persuasive & Analytical Writing
PSY300 Introduction to Psychology
PSC201 Ideology and Constitution of Pakistan
SSC303 Service-Learning and Civic Responsibility
PSC101 Pakistan Studies
Interdisciplinary Courses
LAN10* Foreign Language
*1 = Introduction to Arabic *2 = Introduction to French
*4 = Introduction to German *6 = Introduction to Italian
*8 = Introduction to Chinese
MAT211 Multivariable Calculus
STS201 Models and Inferences
ECN302 Research Methodology in Economics
Economics (Core Courses)
ECN101 Principles of Microeconomics
ECN102 Principles of Macroeconomics
ECN201 Microeconomics Analysis
ECN202 Macroeconomics Analysis
ECN203 Mathematical Economics
ECN204 Development Economics
ECN205 Managerial Economics
ECN206 History of Economic Thought
ECN301 Econometrics-I
ECN303 Game Theory
ECN304 International Trade
ECN305 Financial Economics
ECN306 General Equilibrium and Welfare Economics
ECN401 Econometrics-II
ECN402 Contemporary Issues in Macroeconomics
ECN404 Pakistan Economic Policy
ECN405 Monetary Theory & Policy
ECN406 Analysis of Pakistan Industry
ECN407 Programming for Economics
Non-specialization Courses
Data Science
DSP161 Introduction to Data Science
DSP261 Data Visualization for Economists
DSP262 Data Analytics for Economists
DSP361 Machine Learning for Economists
Finance
FNS201 Introduction to Business Finance
FNS202 Financial Management
FNS203 Financial Institutions & Markets
FNS301 Corporate Finance
International Relations
BIR301 Introduction to IR
BIR401 Political Geography
BIR303 World Politics
BIR402 Globalization
Media
JOR101 Introduction to Journalism
JOR302 Digital Journalism
HIS101 Media History
DER302 Writing for Digital Media
Psychology
PSY305 Contemporary Social Psychology
PSY308 Psychological Aspects of Advertising
PSY311 Consumer Psychology
PSY440 Cyber Psychology, Behavior, and Social Networking
Economics (Electives)
ECN450 Islamic Economics
ECN451 Growth Theories
ECN452 Resources & Environmental Economics
ECN453 Agriculture and Food Security
ECN454 Public Finance
ECN456 Issues in Political Economy
ECN457 Labor Economics
ECN460 Urban Economics
** Muslim students are required to take Understanding of the Holy Quran I (1 credit hour) and Understanding of the Holy Quran II (1 credit hour) during the Summer semesters to complete the degree requirement. Both courses are graded on a Pass/Fail basis and have no prerequisites.
**Note for Non-Muslim Students
Non-Muslim students will take a suitable 2-credit-hour General Education course in place of Understanding of the Holy Quran, as approved by the Institute’s statutory bodies.
COM010 Intensive English (Pre-Sessional Course) ***
*** A nine-hour non-credit ‘Pre-sessional Intensive English module’ is mandatory for freshmen who scored below 50% in the English portion of the IOBM admission test. This nine-hour pre-sessional course is conducted one week before the start of the Semester.
Course Structure
| Semester 1 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| BCN101 | Academic English | 3+0 | – |
| PSY300 | Introduction to Psychology | 3+0 | – |
| MAT110 | Calculus and Analytical Geometry | 3+0 | – |
| REL101 | Islamic Studies (02 Credit Hours) | 2+0 | – |
| STS101 | Probability Theory and Statistics | 3+0 | – |
| ECN101 | Principles of Microeconomics | 3+0 | – |
| Total: 17 | |||
| Semester 2 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| STS201 | Models and Inferences | 3+0 | STS101 |
| EEM101 | Environmental Studies | 3+0 | – |
| PSC101 | Pakistan Studies | 3+0 | – |
| BCN301 | Persuasive & Analytical Writing | 3+0 | BCN101 |
| ECN102 | Principles of Macroeconomics | 3+0 | ECN101 |
| ETP101 | Entrepreneurship | 3+0 | – |
| Total: 18 | |||
| Semester 3 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| ECN201 | Microeconomic Analysis | 3+0 | ECN101 |
| ECN202 | Macroeconomic Analysis | 3+0 | ECN102 |
| ECN203 | Mathematical Economics | 3+0 | MAT110 |
| PSC201 | Ideology and Constitution of Pakistan | 2+0 | – |
| MAT211 | Multivariable Calculus | 3+0 | MAT110 |
| Foreign Language | 3+0 | – | |
| Total: 17 | |||
| Semester 4 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| CSC210 | Applications of Information Communications Technologies | 3+0 | – |
| ECN204 | Development Economics | 3+0 | ECN202 |
| ECN205 | Managerial Economics | 3+0 | ECN201 |
| ECN206 | History of Economic Thought | 3+0 | ECN202 |
| Non-Specialization Course A1 | 3+0 | – | |
| Non-Specialization Course B1 | 3+0 | – | |
| Total: 18 | |||
| Semester 5 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| ECN301 | Econometrics-I | 3+0 | STS201 |
| ECN302 | Research Methodology in Economics | 3+0 | ECN202 |
| ECN303 | Game Theory | 3+0 | ECN203 |
| ECN304 | International Trade | 3+0 | ECN204 |
| Non-Specialization Course A2 | 3+0 | – | |
| Non-Specialization Course B2 | 3+0 | – | |
| Total: 18 | |||
| Semester 6 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| ECN305 | Financial Economics | 3+0 | ECN205 |
| SSC303 | Service-Learning and Civic Responsibility | 2+0 | – |
| ECN306 | General Equilibrium and Welfare Economics | 3+0 | ECN201 |
| ECN401 | Econometrics-II | 3+0 | ECN301 |
| Non-Specialization Course A3 | 3+0 | – | |
| Non-Specialization Course B3 | 3+0 | – | |
| Total: 17 | |||
| Semester 7 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| ECN402 | Contemporary Issues in Macroeconomics | 3+0 | ECN202 |
| ECN404 | Pakistan Economic Policy | 3+0 | ECN204 |
| ECN407 | Programming for Economics | 3+0 | ECN401 |
| Non-Specialization Course A4 | 3+0 | – | |
| Economics Elective I | 3+0 | ECN301 | |
| Economics Elective II | 3+0 | ECN301 | |
| Total: 18 | |||
| Semester 8 | |||
| Course Code | Course Name | Credit Hours | Pre-requisite |
| ECN405 | Monetary Theory & Policy | 3+0 | ECN305 |
| ECN406 | Analysis of Pakistan Industry | 3+0 | ECN404 |
| Non-Specialization Course B4 | 3+0 | – | |
| Economics Elective III | 3+0 | ECN301 | |
| Economics Elective IV | 3+0 | ECN301 | |
| Capstone Project | 3+0 | – | |
| Internship | 3+0 | – | |
| Total: 21 | |||