Economics (CSS 2015-2020)


  1. Explain Arc and Cross elasticities and analyze their role in decision making by the consumers. Point out application of these theories; quote such examples and explain. (2018)
  2. Short note: Perfect and Pure competition (2018)
  3. How does the indifference Approach to analyzing consumer demand avoid having to measure utility? Explain. (2017)
  4. Explain and prove mathematically that marginal revenue is less than price in case of monopolistic market structure (2016)
  5. Explain diagrammatically how increase in price generates income and substitution effect for a normal good? (2016)
  6. Explain the equilibrium of firm and price fixation in Duoply when both firms have different elastic Average Revenue and Marginal Revenue curves. (2015)
  7. Compare and contrast the equilibrium of the firm under perfect competition and monopolistic competition. (2015)
  8. Why Micro and Macro Economics are prerequisite for complete Economic analysis? (2015)
  9. Short note: How would you identify the Supply Curve of the firm under Perfect competition in the long run?
  10. Explain with graph. Do you think that a Monopolistic firm can earn unlimited profit by maximizing the price? (2015)


  1. How the concepts of notional aggregate demand (Keynesian) and real aggregate demand (neo-classical), leads to economic fluctuations in the economy. How equilibrium is established in the market under the above approaches? (2018)
  2. Analyze three different shapes of Aggregate Supply Curve (Constant, positively sloped and vertical). Explain the role of shifts in Aggregate Demand and their impacts on economy in all three types of Aggregate Supply Curves. Relate such impacts in response to Fiscal policy. (2018)
  3. Explain the Lewis Model of Modern-Sector in a Two-Sector Surplus-Labour Economy with graphical analysis. (2017)
  4. What do you know about ‘Demand-Side’ Inflation and ‘Supply-Side’ Inflation? Explain with the help of graphs and briefly explicate the policies to tackle both sides Inflation. (2017)
  5. Short note: Personal and disposable income, Consumer price index and producer price index (2016)
  6. Explain the inflation and unemployment relationship for pre and post 70s market economy. (2016)
  7. Short note: Net domestic and gross domestic product, Multiplier and accelerator. (2016)

Money and Banking 

  1. State the bases of IS-LM framework (equations &establish equilibrium) and comment whether it is a short run or long run analysis. State bases for your answer. Do you think this approach is still applicable for policy formulation? (2018)
  2. Short note: Monetary policy and its tools to control of money supply (2018)
  3. How does the IS-LM model allow equilibrium to be shown in both Goods and Money Markets simultaneously? Elucidate with graphs. (2017)
  4. Short note: Functions of Central Bank (2017)
  5. Deliberate on various theories developed to study the price and money supply relationship. (2016)
  6. Discuss the evolution of international monetary systems adopted by the world economies. (2016)
  7. Explain as how the process of Creation of Credit Money is adopted in the banks? (2015)
  8. Define monetary policy and explain its instruments which control inflation and deflation. (2015)

Public Financing

  1. Discuss major cannons of taxation and their relevance to tax system in Pakistan. Do you think that the tax system in Pakistan is based upon cannons of taxation (restrict your discussion to the application of cannons of taxation)? (2018)
  2. Critically examine the performance of fiscal policy adopted in Pakistan overtime. Express your views about the appropriateness of fiscal policy tools applied for the chosen fiscal policy. (2018)
  3. What is the concept of Public debt? Explain the dimensions for tackling the debt problems of developing countries like Pakistan. (2017)
  4. Short note: Sources of Government Revenue (2017)

International Trade

  1. What is Balance of Payment? Point out its major components. Analyze any one years’ BOP of Pakistan. (2018)
  2. Express your views about trends in the balance of trade in Pakistan and factors affecting them. How the situation can be made favourable for Pakistan? (2018)
  3. Short note: Scope of Import Substitution Strategy in Pakistan (2018)
  4. Examine the causes of Balance of Payments problem under Fixed exchange Rate in short-run keeping in view the Neo Classical and Keynesian Analyses. (2017)
  5. Highlight and explain changes in direction of trade in recent years. Also explain trends in exports and imports of Pakistan (2017)
  6. Short note: Export-led Growth Strategy (2017)
  7. Critically evaluate import substitution and export led policies adopted in Pakistan to promote agriculture development. (2016)
  8. Explain factors responsible for deterioration of terms of trade for Pakistan. How Pakistan can improve its terms of trade? (2016)

Economic Growth & Development

  1. Short note: Balanced and Un-balanced growth theory (2018)
  2. Identify and prioritize three factors hindering the economic progress in Pakistan. What measures would you propose for the sustainable growth of the economy? (2018)
  3. Short note: Difference between Development and Human Development (2017)
  4. Explain the characteristics of Less Developed Countries (LDCs) with particular reference to Pakistan. (2017)
  5. Short note: Growth vs. Distribution (2017)
  6. Discuss the Rostow’s stage of growth with special reference to Pakistan (2016)
  7. Faster development leads to environmental degradation. Explain how development can be sustained without degrading the environment? (2016)
  8. ‘Domestic resource development is a strategy of economic development’. Discuss as how industrial development is helpful to achieve that goal? (2015)
  9. Do you think as how modern approach of economic development is in accordance with the human welfare? (2015)
  10. Short note: Economic growth (2015)

Planning in Pakistan

  1. Critically evaluate the economic planning strategy of Pakistan. What policy measures would you suggest for sound economic planning? Discuss. (2017)
  2. “Economy without planning is like a ship having no destination.” Comment. (2015)

Agricultural & Industrial sector problems and development 

  1. Agriculture’s share in GDP and employment in Pakistan has reduced over time. Express your views about this decline in the light of the experience of some developed countries in the world. (2018)
  2. Elaborate the difference between agricultural development and rural development. What are the limitations of agricultural and rural development policies of Pakistan? Discuss. (2017)
  3. Explain the major monetary and fiscal measure taken in Pakistan for industrial development for the last 20 years. (2017)
  4. Critically evaluate major monetary and fiscal measures taken in Pakistan to promote agriculture development. (2016)
  5. How agriculture development is based on ‘Green Revolution’? Discuss as how it brought revolutionary changes in agricultural development? (2015)

Privatization, denationalization, deregulation

  1. Specifically describe the history of nationalization, denationalization and privatization in Pakistan. Why denationalization of the nationalized organizations became inevitable in Pakistan? (2018)
  2. Delineate the difference among privatization, deregulation and decentralization. Evaluate the experience of Pakistan in privatization. (2017)
  3. Present a detailed account of Pakistan’s experience of privatization process. (2016)
  4. “Public sector enterprises are white elephant for the economy.” Discuss as how privatization can play a positive role to address this issue? (2015)

Interest Free Banking

  1. Has interest-free banking been successful in Pakistan? Highlight the weaknesses and strengths of interest-free banking in Pakistan. (2016)

Energy policy 

  1. Short note: Government Efforts to address Energy Crisis in Pakistan (2018)
  2. Short note: Energy Crisis in Pakistan (2017)
  3. Energy crisis in Pakistan has slowed down the growth process in Pakistan. In your opinion, how the energy shortage can be overcome? (2016)

Other major issues in Pakistan economy

  1. What are the causes of over time worsened income distribution in Pakistan? Give some practicable options to overcome poverty and income inequalities in the country. (2018)
  2. Short note: Climate Change Challenges for the economy of Pakistan (2018)
  3. Short note: Difference between Income Inequality and Poverty (2017)
  4. How Lorenz Curve measures the poverty and income inequalities? Discuss critically. (2015)
  5. Short note: Poverty Line, Basic need approach for poverty alleviation. (2015)