The critical role of the subject of Economics and the economists in identifying and suggesting remedial measures for multiple problems hindering the socio- economic growth of a society is well recognized not only in Pakistan but also all over the world. At its present stage of development, Pakistan is facing multiple constraints on the way of economic growth due to a lack of professionals having command over knowledge and its application in various areas of development, policy making, implementation and evaluation. Even teaching, research and normal operations of the various institutions in the public and private sectors suffer due to inadequacy of trained human resource. To fill this gap, we have taken the initiative to train the students with the cutting edge knowledge in economics through undergraduate and graduate studies in economics. These students on graduation will be ready to take jobs in the public and private sector as well as start their own businesses and consultancies in their areas of specialization. Initially the department of Economics was established for teaching the subjects of Microeconomics, Macroeconomics, Economic Analysis and Managerial Economics to support the BBA and MBA programs of Faculty of Management Studies.
In pursuance of our long-term vision, BS Economics and Finance program was launched in Fall 2011 by FASS and a separate and independent Economics Department was established to offer various degrees in the subject. To further strengthen the BS Economics program, the department was reoriented to offer specializations in Development and Business Economics with the objective to prepare students to work in public and private sectors, specifically, banking and development sector in the country and abroad.
The MS/M.Phil. Program was started in Fall 2013 to be followed by PhD in later semesters. So far, seven MPhil students have successfully completed their degrees and other seven students of MPhil Economics are working on their thesis. Thesis of MPhil students are evaluated by the experts in the respective fields and quality of the research work is ensured rigorously.