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about Economics Department Lahore University of Management Sciences (LUMS)

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The Economics Department at the Lahore University of Management Sciences (LUMS) is a growing and vibrant department that brings together quality faculty and student body. Having built its reputation as the premier institution for economics education in Pakistan, the Department aspires to establish itself as an internationally recognized centre of theoretical and applied research in economics. It seeks to contribute to questions at the frontier of economic knowledge by drawing on the regional laboratory of economic and social life in South Asia and by collaborating with academics based at global centres of excellence in economic research. We intend to achieve this vision by aggressively recruiting high calibre academics, locally and internationally, and by developing international research collaborations with academics at leading centres of excellence in economics. In recent years, the Department has been successful in developing along both these dimensions.

Our recent recruitment has been in the areas of finance, micro econometrics, technology and trade and development. Our new colleagues have completed their PhDs from Yale, Cambridge and Northern Illinois. We also have an exciting Visiting Faculty Programme that attracts distinguished faculty from reputed international universities and multilateral organizations. In 2005, we had faculty visiting from Bond University, the Kennedy School at Harvard, Lakehead University, McGill University, University of Delhi, University of Kent, Universiti Utara Malaysia and the World Bank. The Economics Department recruits internationally and provides a welcoming environment for people of all nationalities. To facilitate research, the Department is committed to balancing faculty time between teaching and research and offers funding for research and international conference travel.

The Economics Department offers a 4-year undergraduate programme in Economics (first class graduated in 1997) as well as a Master’s Programme in Economics (first class graduated in 2002). Economics is one of the most popular majors at the university and almost fifty per cent of the student body is enrolled in Economics either as a major, a joint degree programme or as a minor.

The teaching focus is based around theoretical and empirical rigour and our placements signal the quality of our programmes. Despite the relative youth of the program, the academic placements of our graduates have been exceptional. Since the inception of the undergraduate programme, 8 years ago, nearly 20 of our graduates have been placed in well-reputed PhD programmes abroad, such as: Northwestern, Yale, Cambridge, Oxford, George Mason, University of Arizona, London School of Economics and University College London. Our students have also done exceptionally well at obtaining the Fulbright, Commonwealth and Rhodes Scholarships in recent years. To give an example, over the past seven years five out of fourteen Rhodes Scholars from Pakistan have been graduates of this department. The quality of our students is excellent and we have here the foundations of an international quality Economics Department that is well placed to produce tomorrow's academic researchers in finance and economics.

The quality of non-academic placements of our graduates is equally impressive. A significant proportion of our graduates go to the top international universities for their Master’s, MBA, M-Phil or MPP programmes. Many of these students eventually end up going into corporate and policy jobs.

The Department is fast becoming a recognized national and regional centre of research. In recent years its faculty has become much more research active and the current interests of the faculty span a range of sub-fields, which include: macro and monetary, growth, experimental game theory, finance, applied econometrics, economics of education and migration and political economy. The Department’s national reputation has afforded its faculty the opportunity to undertake consultancy and research work on policy issues of international and national significance.

Currently, the Economics Department faculty also manages the Centre of Management and Economic Research (CMER) at LUMS, which has recently set up a Data Resource Centre in order to assist the faculty with applied work. The Data Centre has an international advisory committee to keep it current and has established links with the leading national providers of empirical data, that is, the State Bank of Pakistan, the Securities and Exchange Commission and the Federal Bureau of Statistics, Pakistan. The Center is also developing the capacity to undertake large-scale field research and to streamline the hiring of research fellows who can assist faculty with research.

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