PhD Economics
Program Objectives
The PhD Economics program is designed with a comprehensive set of objectives to ensure the holistic development of its scholars. Firstly, it aims at Advanced Knowledge Acquisition, providing students with a deep and thorough understanding of the field of economics, encompassing its theoretical foundations, advanced methodologies, and insights into emerging trends. This foundational knowledge is the basis for the second objective, Original Research Contribution, where students are trained to conduct high-quality, independent research that generates new knowledge and insights within the discipline. The program also emphasizes Scholarly Communication, equipping students with the skills to effectively disseminate their research findings through well-written publications, presentations at academic conferences, and other scholarly platforms. In addition, it focuses on Professional and Career Development, preparing graduates for successful careers across academia, industry, government, and the non-profit sector by fostering professional skills, networking opportunities, and active engagement within scholarly communities. Finally, the program encourages Interdisciplinary Collaboration, promoting research that transcends traditional boundaries to address complex, multifaceted global challenges. Collectively, these objectives are designed to develop well-rounded economists capable of making significant contributions to both academia and society.
Eligibility Criteria
• Candidates possessing MPhil/MS degree in Economics, Agricultural Economics, Environmental Economics, Health Economics, Economics and Finance, Econometrics, Development Studies, Business Administration, Demography, Public Policy, Mathematics, Statistics or Computer Science from an HEC recognized university/institution with at least a first division (annual system) or CGPA of 3.00 out of 4.00 (in the semester system or equivalent) shall be eligible to apply for admission.
• Candidates must hold an MPhil/MS degree obtained through research, rather than solely through coursework.
• Applicants will be selected based on their performance in the admission test, interview, academic record, research publications, research proposal, letters of recommendation, and statement of purpose.
• Students without relevant academic backgrounds need to take additional courses (non-credit) to make up for the deficiency.
• The in-service applicants will be required to submit the No Objection Certificate issued by their employers before the beginning of the academic session.
Course Work Structure Semester Wise
Total Credit Hours | 18 |
Core courses | 9 |
Elective courses | 9 |
Duration | 3 – 6 years |
Deficiency Courses Microeconomic Theory-I, Macroeconomic Theory-I, Advanced Mathematics, Econometric Methods-I |
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Semester I | Credit Hr. |
Advanced Microeconomic Theory -I | *P/F |
Advanced Macroeconomic Theory -I | P/F |
Advanced Mathematics | P/F |
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Semester II |
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Advanced Microeconomic Theory -II | 3 |
Advanced Macroeconomic Theory -II | 3 |
Econometric Methods -I | P/F |
Elective -I | 3 |
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**Comprehensive Examination in Micro & Macro Theory (two attempts) |
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Semester III |
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Econometric Methods -II | 3 |
Elective -II & III (courses from the specialization fields offered) | 3+3 |
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Semester IV |
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Research |
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Work-Study Program |
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*Pass or Fail (65% / less) basis.
** The comprehensive examination must be taken soon after completion of the required deficiency and core courses of Microeconomic Theory I & II and Macroeconomic Theory I & II in any two of three consecutive scheduled comprehensive examinations.
Elective Courses
Code | Title of Course | Credit Hours | Pre-Requisite |
E-700 | Topics in Microeconomic Theory | 3 | |
E-702 | Topics in Macroeconomic Theory | 3 | |
E-701 | Mathematical Economics | 3 | |
E-710 | Public Finance | 3 | |
E-711 | Public Policy | 3 | |
E-720 | Monetary Economics | 3 | |
E-721 | Monetary Policy | 3 | |
E-722 | Financial Economics | 3 | |
E-723 | Topics in Financial Economics | 3 | |
E-724 | Financial Analysis | 3 | |
E-725 | Financial Risk Management | 3 | |
E-730 | International Economics | 3 | |
E-731 | International Finance | 3 | |
E-732 | Trade Policy | 3 | |
E-740 | Human Resource Development-I | 3 | |
E-741 | Human Resource Development-II | 3 | |
E-742 | Economics of Population | 3 | |
E-745 | Agent Based Modeling | 3 | |
E-750 | Industrial Economics | 3 | |
E-751 | Industrial Policy | 3 | |
E-760 | Development Economics | 3 | |
E-761 | Development Policy | 3 | |
E-770 | Applied Econometrics | 3 | |
E-771 | Topics in Advanced Econometrics | 3 | |
E-774 | Bayesian Econometrics | 3 | |
E-776 | Financial Econometrics | 3 | |
E-777 | Data Visualization | 3 | |
E-778 | Big Data Analysis | 3 | |
E-780 | Agricultural Development | 3 | |
E-781 | Agricultural Policy | 3 | |
E-782 | Resource Economics | 3 | |
E-783 | Applied Production Economics | 3 | |
E-790 | Economic Growth And Distribution | 3 | |
E-800 | Environmental Economics-I | 3 | |
E-801 | Environmental Economics-II | 3 | |
E-803 | Regulatory Economics | 3 | |
E-805 | Real Estate Economics | 3 | |
E-807 | Economics of Climate Change | 3 | |
E-808 | Economics of Environment and Natural Resources | 3 | |
E-830 | Advanced Mathematical Methods for Economists | 3 | |
E-840 | Economics of Governance | 3 | |
E-841 | Governance and Public Policy | 3 | |
E-842 | Public Policy Analysis | 3 | |
E-843 | Institutions and Development | 3 | |
E-850 | History of Economic Thought | 3 | |
E-859 | Experimental Economics | 3 | |
E-860 | Topics in Experimental Economics | 3 | |
E-865 | Health Economics | 3 | |
E-866 | Topics in Health Economics | 3 |
Field of Specializations
Sr. No. | Specializations | Course Code |
1 | Data Analytics | E-777, E-778, E-770, E-771, |
2 | Climate Change and Resilience | E-807, E-808, |
3 | Public Policy & Governance | E-840, E-841, E-842, |
4 | Financial Technology (Fin-Tech) | E-722, E-724, E-725 |
5 | Development Economics | E-740, E-741, E-760, E-761, E-790, |
6 | Agriculture Economics | E-780, E-781, E-782, E-783, |
7 | Environmental Economics | E-800, E-801, |
8 | Industrial Economics | E-750, E-751, |
9 | International Economics | E-730, E-731, E-732, |
10 | Labour Economics | E-740, E-741, |
11 | Monetary Economics | E-720, E721, |
12 | Public Economics | E-710, E-711, |
13 | Financial Economics | E-722, E-723, E-776, |
14 | Health Economics | E-865, E-866, |
15 | Institutions and Governance | E-803, E-805, E-840, E-843, |
Core Courses Content
E-601: Advance Microeconomic Theory-II……………………………………. (Credit Hours 3)
The following topics are covered in this course: Theories of Choice and Production, General Equilibrium Theory, Fundamental Theorems of Welfare Economics, Problems of Market Failure in the Presence of Externalities and Public Goods and Economics of Information, Bargaining, Auctions, Mechanism Design.
E-611: Advance Macroeconomic Theory-II…………………………………… (Credit Hours 3)
Economic Growth- Theories and Empirics, Business Cycles, Nominal Rigidities and Economic Fluctuations, Competitive Equilibrium Business Cycles, Overlapping Generation Model (with and without money), Monetary and Fiscal Policy Issues.
E-641: Econometric Methods-II………………………………………………….. (Credit Hours 3)
Simple and Multiple Regression Analysis, Violation of basic assumptions, Estimation with deficient data, Formulation and Estimation of Special Models (qualitative response models), Generalized Linear Regression Model and its Application, Simultaneous Equation Systems, Time Series Analysis, Dynamic Econometric Model.
Eligibility Criteria for Comprehensive Exam
A candidate for the Degree of Doctor of Philosophy is required to pass course work of 18 credit hours, comprehensive examinations in the Theory (Microeconomics and Macroeconomics), and defend his/her final thesis successfully.
To obtain credit for a course, a student must obtain a B- grade in the course. After completion of the coursework, a student has to pass comprehensive examinations in Microeconomics and Macroeconomics within two attempts and with a minimum of B- grade in each subject. In normal circumstances, the comprehensive examinations must be undertaken right after the completion of the core courses in microeconomics and macroeconomics on scheduled dates. Permission for late attempts can be granted by the Ph.D. Comprehensive Examinations Committee under special circumstances. If a student fails in any of the comprehensive examinations in the second attempt, he/she will be no more considered a Ph.D. student of the PIDE.
Ph.D Comprehensive Examinations
- A Students has to pass comprehensive examinations in the two core subjects (Microeconomics and Macroeconomics for Ph.D. in Economics).
- The comprehensive examinations must be taken after the completion of the core courses on scheduled dates (to be notified in the academic calendar). A student can avail any two attempts to appear out of the three consecutive scheduled exams for each Core subjective core courses. After that no late attempts will be allowed.
- The exam will be composed of both written and oral in nature.
- All candidates will appear in a written comprehensive exam followed by the oral exam.
- The Viva-Voce will be taken after one week of written paper/s.
- The Viva-Voce exam in addition to passing the written exam will account for Pass/Fail notification in comprehensive exam/s.
- There will be one Viva-Voce exam conducted by the comprehensive committee; however, the marks distribution will be divided over each comprehensive exam undertaken.
The marks wise distribution of the two written exams and Viva-Voce shall be:
| Paper | Written (Total Marks) | Viva-Voce (Total Marks | Total Marks | Minimum Pass Marks |
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| Paper 1 | 85 | 15 | 100 | 65 |
| Paper 2 | 85 | 15 | 100 | 65 |
Note: If a student fails in any of the comprehensive examinations in the second attempt, he/she shall cease to be a Ph.D. student at PIDE. Similarly, if a student fails to attempt any of the comprehensive exams, he/she shall to be a Ph.D. student at PIDE.
Eligibility Criteria for Ph.D Thesis/Dissertation
- A student has to pass comprehensive examinations in Microeconomics and Macroeconomics within two attempts.
- The VC will appoint a Ph.D. comprehensive examination committee to be headed by the HOD and comprising two faculty members. At least one faculty member of the committee must be taken from the permanent PIDE faculty.
- In normal circumstances the comprehensive examinations must be taken after the completion of the core courses in Microeconomics and Macroeconomics on scheduled dates. Permission for late attempts can be granted by the Ph.D. Comprehensive Examinations Committee under special circumstances.
- If a student fails in any of the comprehensive examinations in the second attempt, he will cease to remain student of the Ph.D. program.
- The comprehensive exams will be valid for 5 years and a student has to re-take the comprehensive exams in case his thesis is not completed.
- In addition to the coursework, a student must write a thesis that demonstrates his/her capacity to pursue original research based upon a good understanding of the research techniques and concepts appropriate to the discipline.
- The maximum time for the completion of the degree shall be 4 years. However, under exceptional circumstances, an extension may be granted for one year.
- In all other respects, the PIDE-Ph.D rules shall be applicable.