Program Announcement 2013 - 14 - Institute of Business ...

Description of Coursesdeveloped keeping in mind the global business contextwhere a company's corporate and tax strategies moveline by line. It demonstrates the effect of double taxtreaties and how financial resources can be optimizedby effective tax strategy.LAW501 Legal and Regulatory Environment ofBusinessBusiness decisions are made within the context of acomplex regulatory framework. This course familiarizesthe students with the laws and regulations at bothnational and global level that are pertinent to businessdecision-making. In addition to general introductionof legal framework, the course covers nature andimplications of specific regulations such as companylaw, prudential regulations, WTO, Basle, IOSCO etc.LAW553 Corporate Governance & Practices inPakistanIn view of increasing corporate frauds arising mainlydue to failure of proper internal CorporateGovernance causing significant harm to all thestakeholders, the need for effective CorporateGovernance and its proper implementation cannot beoveremphasized. The topics covered in the courseinclude the need for good Corporate Governance,discussion of Concepts, Principles and Systems ofCorporate Governance, benefits of good CorporateGovernance and detailed examination and criticalevaluation of the Code of Corporate Governance ofPakistan along with their implementation-relatedissues. Qualifications, responsibilities, powers andfunctions of the 'Board of Directors', 'Chief FinancialOfficer (CFO)' and 'Company Secretary' are thoroughlydiscussed. Responsibilities of internal and externalauditors for financial reporting and corporatecompliance are also discussed. This course isconducted on a seminar basis ensuring greaterparticipation of students in the classroom discussions.Department of Economics & FinanceECONOMICS COURSESECO103 Principles of MicroeconomicsThe course is intended to give an understanding of thebasic concepts and terminologies of microeconomics.The course starts with an overview of the social systemand economic problem. The topics of discussion includelaws of demand and supply, market equilibrium anddetermination of price, the utility theory, laws ofdiminishing marginal utility and equi-marginal utilities,budget constraint and consumer's equilibrium,business enterprises, objectives of the firm, productionand cost functions and market structure.ECO104 Principles of MacroeconomicsThe objective of this course is to introduce themacroeconomic concepts, issues and their mutualrelationships. Topics like business cycles: boom anddepression, inflation and unemployment, measures ofnational income: gross domestic product (GDP) andgross national product (GNP), open and closed economymodels, aggregate markets: product, money, laborand capital markets, components of aggregate demand,theories of absolute and comparative advantage, andbalance of payment. The course also introduces themeaning and objectives of fiscal and monetary policies.ECO113 Intermediate MicroeconomicsThe objective of the course is to clarify and extendfurther the microeconomic concepts and to developanalytical skills of the students along with strengtheningtheir conceptual base. The course emphasizes on threemain areas. The first area focuses on consumer theoryincluding utility functions and demand elasticity andincome elasticity. The second area covers the behaviorof firms and includes topics like output maximizationsubject to cost constraint, costs of production,economies of scale and returns to scale. The thirdarea focuses on the market structure and includes adiscussion of perfect market, monopoly, monopolisticcompetition and oligopoly.Pre-requisite: ECO103, MTS101ECO114 Intermediate MacroeconomicsThis course is intended to develop the students' capacityto understand the issues and problems of the economyin a global scenario. The major topics of discussioninclude Classical and Keynesian schools of thought,theories of consumption, determinants of nationalincome and investment, demand and supply of moneyand the labor market. Special emphasis will be placedon discussion the saving-investment gap in developingcountries and the problem of inflation andunemployment with reference to Pakistan's economy.The students will be required to read and understandthe Economic Survey, Annual Reports of State Bankof Pakistan, ADBP and World Bank.Pre-requisite: ECO104, MTS101ECO301 Development EconomicsThis course focuses on factors that spur economicgrowth and analyzes the equation between economicgrowth and human welfare. It also critically examinesvarious measures taken for human welfare. In addition,changes in economic structures such as sectoraloutput and employment relations and variousdevelopmental policies/strategies regarding distributionof income and sectoral development are focused upon.Pre-requisite: ECO103, ECO104& MTS112ECO312 MicroeconomicsThe objective of this course is to confront the studentsto the advanced theoretical concepts ofmicroeconomics and expose them to the rigorousanalysis with mathematical tools at hand. The topicsof discussion include utility maximization and ordinary(Marshallian) demand functions, cost minimizationand compensated (Hicksian) demand functions, theoryof production and supply, efficiency of competitivemarket, the economic cost of imperfect competition,theorems of optimality/welfare, and the tradeoffbetween equity and efficiency.Pre-requisite: ECO113, MTS112 & MTS201ECO313 MacroeconomicsThe course is intended to give the students a strongtheoretical foundation so as to understand the realproblems of the economy with particular emphasis oninflation, unemployment, instability, deficit and debtto which the developing countries are confronted at131