PhD Economics

Program Objectives

A Ph.D. Program in Economics has been a long-felt need in Pakistan. In recent years, the number of qualified economists has fallen below the country’s requirements. Mass exodus of economists to take up attractive jobs abroad has only aggravated this professional vacuum in various government departments, teaching institutions, and research organizations.

At the start of the new millennium, the role of quality education in creating a better world has become increasingly evident. Educational institutions must train students to effectively address new global challenges in the economic, political, cultural and technological fields. The Ph.D. program at Pakistan Institute of Development Economics (PIDE) has been developed to meet some of these challenges by providing the necessary facilities for training of economists in Pakistan. This program is aimed at imparting a full range of knowledge, awareness, and expertise in economics to meet the challenges of the new millennium, as well as equipping students with the analytical tools necessary for policy-oriented research.

Eligibility Criteria
  • MPhil (Mathematics/Statistics/Economics/Econometrics/Computer Science/Economics and Finance) or relevant degree with at least 3 CGPA (First Division) from a recognized institution will be eligible to apply for admission.
  • Applicants will be selected on the basis of their performance in the admission test, interview, academic record, research publications, letters of recommendation and statement of purpose.
  • Students without relevant background need to take additional courses (non-credit) to makeup 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.
Academic Program (Regular)

Total Credit Hours: 18
Course Work: 18
Duration: 3 Years
Total Courses: 6
Core Courses: 3 (First semester 2, Second Semester 1)
Elective Courses: 3 (First semester 1, Second Semester 2)

Course Work Structure Semester Wise

Comprehensive Examination: Microeconomic Theory and Macroeconomic Theory (Two attempts)

Academic Program (Deficiency)

Total Credit Hours: 12
Course Work: 18
Duration: 3 Years
Total Courses: 6
Core Courses: 3 (First semester 2, Second Semester 1)
Elective Courses: 3 (First semester 1, Second Semester 2)
Deficiency Courses: 4 (First semester 3, Second Semester 1)

E-600 Advanced Microeconomic Theory-I Deficiency Course 1st Semester (Fall)
E-610 Advanced Macroeconomic Theory-I Deficiency Course 1st Semester (Fall)
E-630 Advanced Mathematics Deficiency Course 1st Semester (Fall)
Optional I 3 1st Semester (Fall)
E-601 Advanced Microeconomic Theory-II 3 2nd Semester (Spring)
E-611 Advanced Macroeconomic Theory-II 3 2nd Semester (Spring)
E-640 Econometric Methods-I Deficiency Course 2nd Semester (Spring)
Optional II 3 2nd Semester (Spring)
E-641 Econometric Methods-II 3 3rd Semester (Fall)
Optional III 3 3rd Semester (Fall)

The students will only be allowed to register for research after passing the PhD deficiency and core course.

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.

List of Elective Courses for PhD Program
E-601 Advanced Microeconomic Theory-II 3 E-600 Core
E-611 Advanced Macroeconomic Theory-II 3 E-610 Core
E-641 Econometric Methods-II 3 E-640 Core
E-600 Advanced Microeconomic Theory-I 3 Deficiency
E-610 Advanced Macroeconomic Theory-I 3 Deficiency
E-640 Econometric Methods-I 3 Deficiency
E-630 Advanced Mathematics 3 Deficiency
E-700 Topics in Microeconomic Theory 3 E-600 E-601 Elective
E-701 Mathematical Economics 3 E-601 E-700 Elective
E-702 Topics in Macroeconomic Theory 3 E-610 E-611 Elective
E-710 Public Finance 3 E-600 E-610 Elective
E-711 Public Policy 3 E-710 Elective
E-720 Monetary Economics 3 E-610 Elective
E-721 Monetary Policy 3 E-610 E-720 Elective
E-722 Financial Economics 3 E-721 Elective
E-723 Topics in Financial Economics 3 E-721 E-722 Elective
E-730 International Economics 3 E-600 Elective
E-731 International Finance 3 E-730 Elective
E-732 Trade Policy 3 E-730 E-731 Elective
E-733 Trade and Development 3 E-732 Elective
E-740 Human Resource Development-I 3 E-600 Elective
E-741 Human Resource Development-II 3 E-740 Elective
E-742 Economics of Population 3 E-740 Elective
E-745 Agent Based Modeling 3 Elective
E-750 Industrial Economics 3 E-600 Elective
E-751 Industrial Policy 3 E-750 Elective
E-760 Development Economics 3 E-600 E-610 Elective
E-761 Development Policy 3 E-760 Elective
E-770 Applied Econometrics 3 E-640 Elective
E-771 Topics in Advanced Econometrics 3 E-770 Elective
E-774 Bayesian Econometrics 3 E-640 Elective
E-776 Financial Econometrics 3 E-640 Elective
E-780 Agricultural Development 3 E-600 Elective
E-781 Agricultural Policy 3 E-600 E-780 Elective
E-782 Resource Economics 3 E-600 E-630 Elective
E-783 Applied Production Economics 3 E-600 E-630 E-640 Elective
E-790 Economic Growth And Distribution 3 E-600 E-610 E-611 Elective
E-800 Environmental Economics-I 3 E-600 Elective
E-801 Environmental Economics-II 3 E-600 E-800 Elective
E-830 Advanced Mathematical Methods for Economists 3 E-630 Elective
E-840 Economics of Governance 3 E-600 Elective
E-843 Institutions and Development 3 E-600 E-610 Elective
E-850 History of Economic Thought 3 Elective
E-859 Experimental Economics 3 E-600 Elective
E-860 Topics in Experimental Economics 3 E-600 Elective
E-862 Experimental & Behavioral Economics 3 E-600 E-610 E-630 Elective
E-865 Health Economics 3 Elective
E-866 Topics in Health Economics 3 E-865 Elective
Field of Specializations:
  • Development Economics
  • Agriculture Economics
  • Environmental Economics
  • Industrial Economics
  • International Economics
  • Labour Economics
  • Monetary Economics
  • Public Economics
  • Social Economics
  • Financial Economics
  • Health Economics
  • Institutions and Governance
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
  1. A Students has to pass comprehensive examinations in the two core subjects (Microeconomics and Macroeconomics for Ph.D. in Economics).
  2. 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.
  3. The exam will be composed of both written and oral in nature.
  4. All candidates will appear in a written comprehensive exam followed by the oral exam.
  5. The Viva-Voce will be taken after one week of written paper/s.
  6. The Viva-Voce exam in addition to passing the written exam will account for Pass/Fail notification in comprehensive exam/s.
  7. 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 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
  1. A student has to pass comprehensive examinations in Microeconomics and Macroeconomics within two attempts.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. In all other respects, the PIDE-Ph.D rules shall be applicable.
PhD Economics Course Content in - PDF format