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Topic:4Saving and Investment Definition and Kinds of Investment; Autonomous and Induced etc. Determinants of investment. Present Value Criteria for Investment. Investment Demand and Output Growth. Tobin’s Q-Theory. Lags in Investment Demand. Derivation of IS-curve, Shape of IS-curve. Volatility of Investment. Investment Demand and Fiscal Policy. Shifts in Investment Demand Curve and output determination. Topic:5 Money Market: The Demand and Supply of Money Money Demand and its Determinants, Regressive Expectation Model. Portfolio Balance Approach, Empirical Estimation of Income and Interest Elasticities.Supply of Money, Determinants of Money Supply. Measurement of Money Supply and its implications, Instruments of Monetary Policy. Interest Sensitivity of Money Supply. Quantity Theory of Money and its Critical Review. Fischer effect, Money, Prices and Inflation. Derivation of LM Curve and its Slope. LM Curve and Money Market Equilibrium. Interaction of IS-LM and Equilibrium. Top ic:6. Aggregate Demand, Supply and Stabilization Policy Keynesian Models: Liquidity Trap. Effectiveness of Policy and Price Rigidity. Slope of Aggregate Supply and Demand Curves. Liquidity Trap. Grand Aggregate Demand Curve.Interaction of IS-LM and Determination of output: Short-run and Long-run analysis: Aggregate Demand and Supply and their Slopes. Slope of IS-LM in Short-run and Long-run. Vertical / Horizontal Shapes of these Curves. Classical and Keynesian Models. Shocks to Aggregate Demand and Supply and Stabilization Policy. Supply Side Economics. Stagflation and Stabilization Policies, Shocks to IS-LM and its Outcomes and Policy Implications. Short-run – Long-run Philip Curves. Long-run and Vertical Aggregate Supply Curve. Ineffectiveness of Keynesian Policies, Technical Change and Shift in Vertical Aggregate Supply Curve.Part B: Topic:7. Open Economy and Macroeconomic Stabilization Exchange Rates and their Determinants: Mundell – Fleming Model (MFM): Small open Economy with perfect Capital Mobility. IS-LM: Goods and Money Market. Small Open Economy, Floating Exchange Rate and Fiscal Policy. Fixed Exchange Rate and Fiscal Policy. Flexible and Managed Exchange Rates. Monetary Policy, Devaluation and Recovery from great depression. Trade Policy: Mundell-Fleming Model (MFM) with changing Price Level. MFM and large open Economy. Depreciation and its impacts. Income Absorption Approach and exchange Adjustment and Balance of Payment.Topic:8. Labor Market, Price Expectation and Unemployment Demand and Supply of Labour, Equilibrium in the Labour Market. The Sticky Wage Model, Insider-Outsider Models. The Workers – Misperception Model, The Imperfect – Information Model, The Sticky Price Model. Rational Expectation (RE), Adaptive Expectations, RE and Painless Disflation, Hysteresis and challenge to Natural rate Hypothesis. Topic:9. Macroeconomic Policy Debate Policy Actions: Active or Passive, Ignorance, Expectations and the Lucas Crit ique. Conduct of Policy: Rule vs. Discretion, Distrust of Policy makers and Political Process.Macroeconomics Policy: Rules for Fiscal Policy, making Policy in uncertain World. Seignorage and Inflation: What can Policy Accomplish? Monetarists vs. Activists debate. Phillips Curve: Short run and Long run analysis. The expectation augmented Phillips Curve. Money Inclusion and output. Short Run and Long Run Adjustment. Perfect Foresight and Adjustment. Topic:10. Government Debt and Budget Deficit The size of Government Debt, Measurement Problem: Inflation, Capital Assets, Business Cycle etc. Ricardian view of Debt: Ricardian Equivalence, Consumers and Future Taxes.Tax shooting, Delayed Stabilization, Ricardo and Ricardian Equivalence and Debate. Model of Debt Crises. Topic:11. Economic Fluctuation and Its Sources The Theory of Real Business Cycles: Interpretation: Labor Market, Technology Shocks. Household Behaviour, the persistence of output Fluctuations. Limitations of the Model. The C hallenges:What we know and what we don’t know? Long-run and Country’s Capacity to Produce. Short-run and influence of Aggregate Demand. Random Walk Model. What Determines Inflation Rate, Unemployment Rate and Output Growth? Can we revise Natural Rate of Output?Should we stabilize the Economy? The cost of Inflation? The problem of Budget Deficit? Topic:12. Long-Term Growth and Full Employment †¢ Basic Neo-Classical Growth Model and Equilibrium Capital / Output Ratio, Wage – Profit Relative Shares. †¢ Neo-Classical Model with Technical Progress: ? Capital Embodied Technical Progress. ? Neutral Disembodied Technical Progress. ? Labor-Augmenting Disembodied Technical Progress. †¢ Kaldor Saving Function and Neoclassical Production Function. †¢ Golden Rule and Optimal Growth Models. †¢ New Growth Theory / Endogenous Growth. Recommended Books: 1.Branson, William H. , (1979), Macroeconomic Theory and Policy, Harper and Row Publishers, New York / London. 2. Branson, William H. , and Litvack James M. , Macroeconomics*, (Latest Edition), Princeton University. 3. Glahe, Fred R. , (Latest Edition), Macroeconomics, Theory and Policy, Harcourt Brace Jovanovich Inc. 5. Mankiw, Gregory N. , (2000) Macroeconomics*, Worth Publishers, New York. 6. Peel D. and Minfow P. , (2002). Advance Macroeconomics, Edward Elgar, Cheltenham, U. K. 7. Romer, David, (2001). Advanced Macroeconomics*, McGraw Hills, New York / London. 8. Sargent, Thomas J. (1988) Rational Expectations and Inflation*, Harper and Raw Publishers, New York / London. 9. Rosalind Leveic and Alexander Reborens, Macro-economics: An Introduction to Keynesian Neo-Classical Controversies; Macmillan (Latest edition). 10. Denison, Edward F. 1985. Trends in American Economic Growth, 1929-1982. Washington: The Brookings Institution. *Strongly Recommended Additional Reading Material / Research Papers: 1. Ball, Laurence, Mankiw, N. Gregory, and Romer, David. 1988. â€Å"The New Keynesi an Economics and the Output-Inflation Tradeoff. † Brookings Papers on Economic Activity, No. , 1-65, Reprinted in Mankiw and Romer (1991). 2. Barro, Robert J. 1976. â€Å"Rational Expectations and the Role of Monetary Policy. † Journal of Monetary Economics 2 (January): 1-32. 3. Barro, Robert J. 1989. â€Å"Interest-Rate Targeting. † Journal of Monetary Economics 23 (January): 3-30. 4. Barro, Robert, J. , and Gordon, David B. 1983b. â€Å"Rules, Discretion and Reputation in a Model of Monetary Policy. † Journal of Monetary Economics 12 (July): 101-121. Reprinted in Persson and Tabellini (1994). 5. Bernheim, B. Douglas. 1987, â€Å"Ricardian Equivalence: An Evaluation of Theory and Evidence. NBER Macroeconomics Annual 2: 263-304. 6. Blanchard, Olivier J. 1984. â€Å"The Lucas Critique and the Volcker Deflation. † American Economic Review 74 (May): 211-215. 7. Fischer, Stanley. 1993. â€Å"The Role of Macroeconomic Factors in Growth. † Journal of Monetary Economics 32 (December): 485-512. 8. Friedman, Milton, 1968. â€Å"The Role of Monetary Policy†. American Economic Review 58 (March): 1-17. 9. Genberg, Hans. 1978. â€Å"Purchasing Power Parity under Fixed and Flexible Exchange Rates. † Journal of International Economics 8 (May): 247-276. 10. Long, John B. , and Plosser, Charles I. 983. â€Å"Real Business Cycles. † Journal of Political Economy 91 (February): 39-69. 11. Mankiv, G. , N. (1990), A quick Refresher Course in Macroeconomics, Journal of Economic Literature, Vol. XXVIII, 1645-60. 12. Romer, Christina D. 1999. â€Å"Changes in Business Cycles: Evidence and Explanations. † Journal of Economic Perspectives 13 (spring): 23-44. 13. Romer, Paul M. 1990. â€Å"Endogenous Technological Change. † Journal of Political Economy 1998 (October, Part 2): S71-S102. Paper 3. MATHEMATICAL ECONOMICS Topic 1:The Nature of Mathematical Economics Ingredients of mathematical models.Derivations: Equ ation of a straight line and its forms: Two point, intercept, point slope and slop intercept. Types of functions: constant, polynomial, rational, non-algebraic. Relationships and functions. Indices & their rules. Functions of more than two independent variables. Logarithms & the rules of logarithms. Topic 2:Equilibrium Analysis in Economics A linear partial equilibrium market model. The effect of an excise tax in a competitive market. Non linear market model. General Market Equilibrium. Equilibrium in a linear National Income Model. Topic 3:Linear Models and Matrix AlgebraTheory of matrix multiplication. Laws of matrix operations. Types of matrices: Square, identity, null, idempotent, diagonal, transpose and their properties. Conditions for non singularity of a matrix. Minors and cofactors. Determinant & its properties. Solution of linear equations through Gaussian method, Cramer’s rule and Inverse of a matrix method. Properties of inverse of a matrix. Use of matrix approach in market & national income models. Topic 4:Input-Output Analysis Input-output model, its structure and its derivation. The use of input output model in Economics. Topic 5:DifferentiationRules of differentiation. Differentiation of a function of one variable. Sum-difference, product, quotient, chain, power, inverse, logarithmic & exponential functions Combinations of rules. Higher order derivatives. Economic applications of derivative. Concept of maxima & minima, elasticity and point of inflection. Profit & revenue maximization under perfect competition, under monopoly. Maximizing excise tax revenue in monopolistic competitive market, Minimization of cost etc. Topic 6:Partial & Total Differentiation Partial differentiation & its rules. Higher order & cross partial derivatives (young’s theorem).Total differential & total derivatives. Implicit functions rule of differentiation. Optimizing cubic functions & their economic application. Topic 7:Economic Applications of Partial & T otal Differentiation Comparative static analysis: a linear Partial equilibrium market model, a linear National Income model. Partial elasticities. Production functions Analysis. Maximization & Minimization of unconstrained functions & their economic applications: Profit maximization by a multi-product firm under perfect Competition & monopoly, Price discrimination, Multi-plant monopoly, input decisions etc.Topic 8:Optimization: Constrained & Extrema Free and constrained optimization, extrema of a function of two variables: graphical analysis, Lagrange method. Utility maximization & Cost minimization. Homogenous Production function, Cobb Douglas Production function. Jaccobian determinants. CES Production Function. Translof Function. Topic 9:Linear Programming Ingredients of linear Programming. Graphical approach, simplex method, economic application of linear programming. Concept of primal & dual. Duality theorems. Solving of Primal via dual.Economic interpretation of a dual. Recomme nded Books: 1. Chiang, A. C. , Fundamental Methods of Mathematical Economics, McGraw Hills, (Latest Edition). 2. Baumol W. J. , Economic Dynamics, Macmillan, (Latest edition). 3. Budnick, Frank, Applied Mathematics for Business, Economics and Social Sciences. 4. Dowling E. T. , Mathematics for economists, Schum Series (latest edition). 5. Weber E. Jean, Mathematical Analysis, Business and Economic Applications (Latest Edition) Harper and Row Publishers, New York. Paper 4. STATISTICS FOR ECONOMISTS Topic 1:IntroductionDescriptive and inferential statistics; Variable and constant, population and sample, parameter and statistic; The four basic activities in statistics: Designing a plan for data collection, Exploring the data, Estimating an unknown quantity, Hypothesis testing; Type of measurement scales: Nominal, Ordinal, Interval and Ratio; Types of data: Univariate, Bivariate and Multivariate data, Primary and secondary data, Quantitative data and qualitative data, Time series, Cross -sectional and pooled data; Significant digits and rounding off numbers; Errors: Biased and unbiased.Topic 2:Presentation of Data and Measure of Central Tendency Introduction; Classification; Tabulating numerical data: The frequency distribution, The cumulative frequency distribution, The relative frequency distribution, The percentage frequency distribution; Graphic and diagrammatic representation: Bar chart, Pie chart, Histograms, Frequency curves and Histo-grams; Histograms by Hand: Stem-and-leaf.Measure of central tendency; Introduction; Types of Averages: Mean: Arithmetic mean, Geometric mean, Harmonic mean, Trimmed mean and Winsorized mean; Quintiles: Median, Quartiles, Deciles, Percentiles; The mode; Box plot and detailed box plot; Empirical relation between Mean, Median and Mode; The cumulative distribution function: Finding the percentile ranking for a given number, Finding the percentile for a given percentage; Summary measures and type of data. Topic 3:Measures of Dispers ion, Skewness and KurtosisAbsolute and relative measure of dispersion; Different measures of dispersion: The Range, Quartile deviation, Mean deviation, Variance and standard deviation: Definition and interpretation of variance and standard deviation, Computation of variance and standard deviation, Step deviation method or coding method, Coefficient of variation, Standardized variable, Properties of standard deviation and variance; Skewness: Karl Pearson’s coefficient of skewness, Bowley’s coefficient of skewness; Kurtosis. Topic 4:Probability and Probability DistributionA survey of probability concepts: Classical probability, Empirical concept, Subjective probability; Some rules of probability: Rules of addition, Rules of multiplication; Tree diagrams; Conditional Probability, Bayes Theorem; Counting rules: The multiplication formula, The permutation formula, The combination formula. Discrete probability distribution, Random variables, Discrete random variable, Continu ous random variable; The mean, variance and standard deviation of a probability distribution; Binomial probability distribution, and its computation.Cumulative probability distributions, Properties of Binomial probability distribution. The normal probability distributions: Properties of normal distribution, Applications of the standard normal distribution, Areas under the normal curve, Finding areas under the normal curve; The normal approximation to the binomial; Continuity correction factor. Topic 5:Survey Sampling and Sampling DistributionsSampling the population, Advantages of sampling, Representative samples, Sample design and sample survey, Sampling frame, Probability and non-probability sampling, Sampling with and without replacement, Sampling and non-sampling error, sampling bias; Probability sampling and non-probability sampling methods; Sampling distribution of the mean; The central limit theorem; Sampling distribution of differences between means; Sampling distribution of sample proportion; Sampling distribution of differences between proportions.Topic 6:Estimation and Confidence Intervals Point estimates and confidence intervals; Estimation by confidence interval: Confidence interval estimate of a population mean (Known Variance), Confidence interval estimate of a population mean (Unknown Variance) Confidence interval for differences of means, Confidence interval for differences of means; Confidence interval for population proportion, Confidence interval for differences between proportions; One sided confidence interval; Sample size for estimating population mean.Topic 7:Hypothesis Testing One sample test of hypothesis; One Sample; One tail and two tails tests of significance; Testing for a population mean with a known population standard deviation: Two-tailed test, one-tailed test; P-Value in hypothesis testing; Testing for a population mean: Large sample, Population standard deviation unknown; Testing hypotheses about population proportion when s ample size is large; Type II error. Testing of two Sample Hypothesis: Population means, Population proportions; comparing populations with small samples.Topic 8:Chi Square Applications Introduction; Goodness-of-fit test: Equal expected frequencies; Goodness-of-fit test: Unequal expected frequencies; Limitations of Chi  square; Using the goodness-of-fit test to test for normality; Contingency Table Analysis. Topic 9:Analysis of Variance Introduction, The F distribution; Comparing two population variances; ANOVA assumptions; ANOVA test; Inferences about pairs of treatment means; Two-way analysis of variance. Topic 10:Simple Linear Regression and Correlation AnalysisScatter diagram; Standard methods for obtaining regression line: (i) Inspection, (ii) Semi average, (iii) Least squares principle; Assumptions underlying linear regression; Measures of variation: Standard error of the estimate, Coefficient of determination; Prediction in Regression Analysis; Interpolation verses extrapola tion; Correlation analysis; Scatter diagram; The coefficient of correlation: Properties/characteristic of coefficient of correlation, Correlation and causation; The relationship among the correlation coefficient, the coefficient of determination and the standard error of estimate; Inference about the slope and correlation coefficient; t-test for the slope, F- test for the slope, t-test for correlation coefficient; Estimation of the mean values and predication of individual values; Confidence interval and predication interval estimate; Rank correlation. Topic 11:Multiple Linear Regression and Correlation AnalysisMultiple linear regression model, Interpretation of partial regression coefficients; Estimation of multiple linear regression model with two explanatory variables by using Least squares principle, Matrix approach, Deviation form; Pitfalls and problems in multiple regression: Multicollinearity, Variable selection, Model misspecification; Multiple standard error of estimate; Co efficient of multiple determination (adjusted and unadjusted); Evaluating the regression equation: Using a scatter diagram, Correlation matrix, Global test, Individual variable significance test, Qualitative independent variables; Multiple regressions in terms of linear correlation coefficients; Multiple correlation and partial correlation; Nonlinear regression models; Dealing with nonlinear relationship and unequal variability. Topic 12:Applied Statistics Index Numbers, Un-weighted index numbers; Simple aggregative index; Weighted indexes; Laspeyre’s price index, Paaseche’s price index, Marshal- Edgeworth price index; Fisher’s ideal index; Consumer Price Index (CPI), Producer Price Index (PPI), CPI versus GDP Deflator; Issues in constructing and using index numbers; Application of index numbers to business and economics.An overview of time series analysis; Component Factors of the classical multiplication time series model and their estimation: Secular trend; C yclical variation, Seasonal variation, Irregular variation; Smoothing the annual time series and using it in forecasting: Moving averages, Weighted moving averages, Exponential smoothing; Using trend and seasonal component in forecasting; Time series and forecasting; The multiplicative model, Calculating the seasonal indexes, De-seasonalization the time series, Using deseasonalized time series to identify trend, Seasonal adjustments, Model based on monthly data, Cyclical component; Modeling cyclic behavior using box-Jenkins ARIMA processes; Using regression analysis in forecasting; Qualitative approach to forecasting: Delphi method, Expert judgment, Scenario writing, Intuitive approaches; Choosing an appropriate forecasting model; Some observations on time series analysis. Recommended Text books: 1. Lind, Douglas A. , Marshal, William G. and Mason, Robert D. , Statistical Techniques in Business and Economics (11th edition). Boston: McGraw Hill, 2003. 2.Chaudhry, Sher Mohammad and Ka mal, Shahid, Introduction to Statistical Theory (7th edition). Lahore: Ilmi Kitab Khana, 2002. 3. Siegel, Andrew F. , Practical Business Statistics (5th edition). Boston: McGraw Hill, 2003. 4. Newbold, Paul, Carlson, William L. and Thorne, Betty M, Statistics for Business and Economics (5th edition). New Jersey: Prentice Hall, 2002. 5. Keller, Gerald and Warrack, Brian, Statistics for Management and Economics (5th edition). Boston: Duxbury Thomson Learning, 2000. Additional Readings: 1. Berenson, Mark L. , Levine, David M. and Krehbiel, Timothy C. , Basic Business Statistics: Concepts and Applications (9th edition). New Jersay: Prentice Hall, 2004. 2. Barron, Michael M. Statistics for Economics Accounting and Business Studies (Latest Edition), New York, Prentice Hall. 3. Carlson, William L. and Thorne, Betty, Applied Statistical Methods for Business Economics and Social Sciences (Latest edition). New Jersey: Prentice Hall. 4. Moore, David S. , The Basic Practice of Statistics (2nd e dition). New York: Freeman,2000. Paper 5. ISLAMIC ECONOMICS Note: The instructor concerned may assign additional and latest literature on the subject matter. The references provided at the end of the course are just helping literature. Students must consult additional literature on each topic. Topic 1:Introduction: Islamic Economics i) Nature, and Importance of Islamic Economics.Islamic Economics Versus Economics of Secular Economy and Mixed Economic System. ii) Brief Introduction of Basic Values of Islam; Taqva, Halal and Haram, Justice, Benevolence, Equality, Brotherhood and Cooperation as Determinants of Economic Behaviour and Policies. Topic 2:Major Economic Thoughts: Contribution of Scholars Contribution of some Earlier Muslim Scholars in the Development of Islamic Economics (Imam Abu Yousuf, Imam Abu Ubaid Al Qasim,, Ibn-e-Khaldoon, Imam Ibn-e-Taimiah, Shah Waliullah Dehlvi, Baqar-al-Sadar). Topic 3:Islamic Economic System Silent features of Islamic Economic System; objectives , Economic Freedom, Property and Ownership Rights. The Concept of Equality and Efficiency.The Relative Importance of Capital and Labour. Priority to Basic Needs. Concepts of Ownerships and Implication. Welfare and income Distribution. Comparison of Islamic Economic System with Capitalism and Socialism, with respect to above cited principles / values of Islam. Topic 4:Microeconomics in Islamic Framework The Consumer Behaviour in Islam. Utility, Moderation, optional Consumption Behaviour. Organization of Production and Behavioural Theories of Firms. Objectives and Behaviour of Firm in Islamic Economy. Business Ethics in Production and Marketing. Hoarding and Gains. Market Structure – Monopoly and Competition, Resource Allocation in Islamic Environment and Cartels.Concepts of Fair Trade. Stockists / Wholesales, determination of Prices and Rate of Normal Profit / Meeting of Losses. Price Mechanism and State Role in Regulation of Markets. Topic 5:The Modes of Financing In Islam Mo darba and Musharka Types of Bai. (Bai-Salam, Bai Muajjal, Morabaha. ) Saving and Investment in Islam. Investment of Savings for Gains. Topic 6:Distribution in Islamic Economy Islamic Stress on Circulating of Wealth. Steps against Concentration of Wealth. Social Justice in Islam. Rights of Labour, Distributive Justice Use of Land and Other Natural Resources and their Rewards. Role of State in Distribution of Wealth.Topic 7:Some Basic Macroeconomic Concepts Consumption, saving and Investment Functions in Islamic Environment. Determents of Islamic Consumption Function, Concept to Help others, Welfare and Religious believes. Zakat and Usher. Topic 8:Demand and Supply of Money and Banking Gold Money, Paper Money and Credit Money. Western Justification of interest. Islamic Concept of Riba, its Implications and Alternatives. Functions of Commercial Banks in Islamic Framework. Central Banking and Monetary Policy in Islamic Framework. Central Banking and Monetary Policy in Islam. Inflation V s. Design of Capital Market. Monetary Policy in an Islamic Framework. Topic 9:Zakat, Social Justice and StateMeaning of Zakat, Nisab, Introductory Hints about items of Zakat. Distributive Role of Zakat and Social Justice. Zakat as a tool in Fiscal Policy. Economic Role of Islamic State. Welfare consumption and limits. Revenue and Expenditure Items in Modern Islamic States. Beneficiaries of Zakat. The Tax Policy of Islam. Nature and Scope of Fiscal Policy in Islamic State (Taxation Policy). Expenditure Principles. Burden of Taxes. Topic 10:Economic Planning and Development Concepts and Objectives of Economic Development in Islam. Resources for Development. Nature of Economic Planning in Islam. Topic 11:The Islamisation Process In Pakistan The Islamisation of Banks. Implementation of Zakat / Usher in Pakistan.A brief Survey of Changes in Economic Structure and Conditions Since the Holy Prophet (regarding Transport / communication, Business Forms, Production of Goods, Money and Banking ). Topic 12:New Emerging Issues and Challenges Current Situation and Proposed Changes. Islamic View of International Economic Institutions and Modes of International Cooperation. Islamic View of Globalization. Quality Identification of Goods, Merits and Trade. Fair Prices Vs. Market Price etc. Books Recommended: Basic Texts: 1. Islamic Economics: Theory and Practice, A Comparatice Study, M. A. Mannan, Cambridge, Hodder and Stoughton, 1986 (or latest ed. ) 2. Islamic Economics: Dar A. H & M.. Akram Ilmi Kitab Khana, Lahore (latest ed. 3. Macro Consumption Function in an Islamic Economic Framework, M. Fahim Khan, International Centre for Research In Islamic Economics, King Abdual Aziz Univ, KSA. References: 1. Ahmad, Khurshid, (latest edition), Fiscal Policy and Revenue Allocation in Islam, International Islamic University, Islamabad. 2. Anf A. Q. Mannan M. A. (1995), Developing a System of Financial Instruments IRTI, Islamic Development Bank, Jeddah. 3. Badawi, Imam Abu Abaid Al-Qasi m Muhammad A. Zaki, Kitab ul Amwal: , Zakat and Social Justice, Islamic Council of Europe, London, 1979. 4. Chapra T M. , The Economic System of Islam, University of Karachi, 1991. 5.Chapra, Umer, Monetary Policy in an Islamic Economy, in Money and Banking in Islam, Institute of Policy Studies, Islamabad. 6. Ghazanfar S. M. , (2003), Medieval Islamic Economic Thoughts, Routledge Publishers. 7. Khan M. Fahim, (1995), Human Resource Mobilization Through the Profit, Loss Sharing Based Financial System, IRTI, Islamic Development Bank Jeddah. 8. Khan, Tariq ullah, (1996), Practice and Performance of Mudarba, A case study of Pakistan, IRTI, Islamic Development Bank, Jeddah. 9. Khurshid, Ahmad, Elimination of Riba: Institute of Policy Studies, Islamabad. 10. Mahdi, M. Ahmad, (1995), Islamic Banking Modes for House Building Finance, IRTI, Islamic Development Bank, Jeddah. 11. Mannan M.A, (1996), Financing Development in Islam, IRTI, Islamic Development Bank, Jeddah. 12. Naqvi Syed Nawab Hyd er Ethics and Economics: . Leicester, The Islamic Foundation. 1981. 13. Nomani, Farhad & Rehnuma. , Ali, Islamic Economic Systems: – Zed Books Ltd. , London, 1994. 14. Nuti, D. Haris, (1995), The Economics of Participation, IRTI, Islamic Development Bank, Jeddah. 15. Siddiqui, M. N. , Muslim Economic Thinking, Leicester, The Islamic Foundation. 1985. 16. Tago, Usman, Justice: Introduction to Islamic Finance, (2000), Idara-tul- ma’arif edition. 17. Yusaf , Imam Abu, Kita bur Kharaj, Lahore, Islamic Book Centre, 1979. Paper 6. MAJOR ISSUES IN PAKISTAN ECONOMY Topic 1:Overview of Pakistan EconomyDevelopment Experience, Approaches, Policies and Outcomes. Identification of Issues: The era of 1950’s, 1960’s, 1970’s, 1980’s 1990’s and 2000’s. Structural Change and Sources of Growth. Emergence of Economic Issues, Human Resource Development, Unemployment, Poverty, Income Distribution, Debt, Deficit etc. Growth with limited development i n Pakistan. Topic 2:Development Planning and Resource Mobilization Agricultural Development Policies and Priorities, Major Targets of Develop Plans and Emerging Issues; Neglects and Successes: Mobilization of Domestic Resources; Shortages, Deficits and Role of Foreign Aid. Agricultural Vs. Industrial Development Debate. Agricultural Adequacy.Topic 3:Agriculture and Industrial Development: Emerging Issues Pattern of Agricultural and Industrial Development, Land Reforms and Its Impacts, the Role of Green Revolution and its Impacts: Present Status. Agricultural Price Policy and Income Tax. Sectoral Terms of Trade. Industrial Development Policies and Strategies. Development of Large and Small Industries. Value Added: Manufacturing Goods Vs. Primary Goods Production. Agriculture Vs. Industry: Development Debate. Topic 4:Sectoral Development, Employment Pattern and Unemployment Sectoral Priorities and Development Issues. Human Resource Development and Emerging Issues: Population Growth, L abor Force Participation Rate and Employment Pattern, Unemployment and Underemployment, Forecasting Manpower Needs and Employment. Strategies to combat unemployment.Criteria to Measure Unemployment / Underemployment: Time Criterion, Productivity Criterion and New Index of Unemployment: Application to Pakistan and Empirical Evidences. Good Goverence, Social Action Plan and its Impact. Role of Institution in Development. Social Sectors development Vs. High Retun Sectors: Growth trade off. Topic 5:International Debt and Dependency Concepts of Foreign Aid and Debt. Borrowing Vs. Domestic Reserve Mobilization (failure). Size of Foreign Debt, Debt Saving and its Impacts. Strategies to combat with High Debt: Saving Policy, Foreign Trade Promotion, Cutting non-development Expenditures, Rescheduling and its Impacts.Debt Management in Pakistan and Its Impacts. Debt Modeling and Future Implications. Topic 6:Poverty and Income Distribution Pattern of Income Distribution: Rural and Urban. Defini tions and Approaches to Measure Poverty: Income Approach, Expenditure Approach, Basic Needs Approach, Poverty of Participatory Index (POPI). How to Combat Poverty; Growth Strategy, Basic Needs, Labor Intensive Investment: Education / Training etc. and Social Action Plan (SAP) , its Role and Critical Review, Evasion of Policies / Strategies to Combat Poverty and Improving Income Distribution: Critical Evaluation. Neglect of Human Resource Development. Child Labor. Factors Productivity Issues.Topic 7:Inflation, Foreign Trade Deficit and Emerging Issues Sources of Inflation in Pakistan. Policies to Combat Inflation and their Impacts. Trade Performance, Instability and its Impacts. Policies to Combat Deficit and Trade Instability. WTO and Its Impacts. Reforms and Further Needs. Expected Impacts of WTO and Challenges. Terms of Trade Issues, Market Access and Health Related Rates. Recommended Books: 1. Aslam M. , Perspective on Development Planning In Pakistan, Allied Book Centre, Lahore, 2001-2002. 2. Chaudhary M. Aslam and Ahmad Eatzaz: Globalization, WTO and Trade Liberalization in Pakistan, FerozSons, Lahore (2004). 3.Chaudhary M. Aslam, Human Resource Development and Management in Pakistan, Ferozsons, Lahore (1989). 4. Ishrat Hussain, Pakistan: The Economy at the Gross Roads – Past Policies and Present Imperatives, Oxford Univ. Press, Karachi, 1988. 5. Khan, Shahrukh R. , 50 Years of Pakistan’s Economy – Traditional Topics and Contemporary Concerns. Oxford Univ. Press, Karachi (2000). 6. Mahbool-ul-Haq Centre for Human Development (MHCHD), Poverty Profile of Pakistan, (1989) Oxford University Press. 7. ————– Human Development In South Asia, Annual Report. 8. Saeed, Khawaja Amjad, The Economy of Pakistan, Karachi: Oxford University Press, 2004. 9.Zaidi, Akbar, (1999), Issues in Pakistan Economy, Oxford Univ. , Press, Karachi. 10. World Development Reports, World Bank. (Note:Teacher(s) must assign latest res earch papers pertaining to each topic) M. A. Part II Paper 1. INTERNATIONAL TRADE THEORY AND FINANCE A)International Trade Theory Topic1. Importance and Bases of Trade Why Study International Economics? The Changing World and Interdependence: Basis of Trade, Gains from Trade. Absolute Advantage, Comparative Advantage, Overview of Comparative Advantage and Pattern of Trade. Offer Curves and Free Trade Equilibrium. Disagreements on Free Trade: Overview of Emergency of International Trade Issues.The Elasticity of Exports Demand and Balance of Payment. Substitution and Income Effects, Impacts of Rise in Exports Demand. Topic 2. Growth and Trade International Trade and Shift in Production Function, Immerizing Growth, Output Growth and Terms of Trade (T. O. T) / Deterioration: Uniform Growth at given T. O. T. The Transfer Problem: Marshall Plan and Transfers, Transfer of Resources: Neutral Case. Topic 3. Technology and Factor Endowment Ricardian Trade Model, World Production and Gains. Co mparative Cost and Trade Pattern. National and World Gains from Trade. International Wage differentials and Productivity. Technical Progress and International Gains.WTO and Gains from Technical Progress: Impacts on Prices. Equilibrium Production and Consumption: Non-traded and Tradeables, Costs, Marginal Physical Product and Production Possibilities. Production Possibilities with Diminishing Returns, Increasing Opportunity Cost. Free Trade and Income Distribution, Relative Demand, Supply and Pattern of Trade. Dutch Disease and its application. Topic 4. Factor Endowment and Heckscher – Ohlin Theory Output and Factors Rewards in 2*2 Model. Factor Intensity Comparison. Heckscher- Ohlin (H. O) Model, The Role of Demand, Factor’s Prices and Commodity Prices, Factor Price Equalization, and Factor Intensity Reversal.Newly Industrializing Countries (NIC’s) and Footloose Production Process. NIC’s and H. O Theorem. The Product Cycle, Critical Analysis of Traditiona l Trade Theories. Rypecksy Theorem and its critical review. Topic 5. Markets, Cartels and International Trade Monopoly and Import Competition, Export Opportunities. Product Differentiation and Monopolistic Competition. Dumping / Discrimination and WTO, Competitiveness and Market Share, Gains from Migration. WTO and Factor’s Movements and the Commodity Movement. Multinationals Firms and Foreign Direct Investment, Transfer of Capital, Technology, Skill and other Gains, Transfer of Resources and Transfer Problem. Topic 6. Tariff, Quota and Trade PoliciesTariff and Small Country: Effects of Tariff, Price and Demand for Imports, Welfare impacts. Impacts of Tariff on Government Revenue, T. O. T Production and Welfare. Impact of Tariff on Domestic and World Welfare. The Optimal Tariff. Tariff and Distribution of Income. Brief Introduction of Tariff and WTO Laws, Tariff and Second Best Choice, Subsidies and Quota, Voluntary Quota, Growth with Protection vs. Free Trade Gains and WTO. Managed Trade, Quantitative Restrictions, Voluntary Export Restrictions and Their Impacts. Trade Diversion and Preferential Arrangements. WTO: Injury, Anti-dumping Duties, Tariff and B. O. P Support. Success and Failure of WTO Agenda. B)International Monetary Economics and Finance Topic 7.Foreign Exchange Market and Exchange Rate Determination Foreign Exchange Rates (F. E. R): What it represents? Real, Nominal and Effective Rates. Determinants of Foreign Exchange Rate. Efficient F. E. R Market. Dynamic Theory of Interest and Exchange Rate. The Theory of Spot Exchange Rate Determination. Capital Flow and Speculations. Forward Exchange Market, Interest Arbitrage, Interest Parity Theory, Speculators, Hedgers and Traders, Forward Exchange Rate Policy. Topic 8. Purchasing Power Parity, Exchange Rates and Balance of Payments (B. O. P) Purchasing Power Parity (PPP): Non-Trade Goods, Balance of Payment Effect. Test of Exchange Rate Instability.Impacts of F. E. R. Rate Instability. B. O. P: Income Absorption Approach to B. O. P. Elasticities of Exports and Imports and Impact on B. O. P. The Marshall- Larner Conditions. Monetary Approach to B. O. P. Monetarist Critique to the Keynesian Closed Economy Model. B. O. P. Effects of Stabilization Policies. Empirical Tests of Monetary Approach to the B. O. P. WTO and B. O. P Support. Adjustment with Short-run capital Flow. Methods dealing with undesired Short-run Capital Flow. Topic 9. Open Economy: Monetary and Fiscal Policy Monetary and Fiscal Policies: Internal and External Balance. Monetary and Fiscal Policy with Fixed Exchange Rates.Problems of Small Country: Fixed Exchange Rate, Free Floating Exchange Rate, Managed Exchange Rate and Critical Review of The Fiscal – Monetary Mix Models. Fiscal Policy and Temporary Payment Imbalances. Monetary Policy and Permanent Payments Imbalances, A Random Walk Model of Payment Imbalances. Critical Review of the Modern Theory and Adjustment Mechanism. Topic 10. International Inst itution: Trade, Capital and B. O. P. Introduction of International Institutions, Role and Major Activities of IMF. IMF Credit Facilities. Loan Mechanism, Value of SDRs. The Optimum Quantity of Reserves, Optimum Interest Rate. Euro-Dollar, Dollar Exchange and Impacts. Role of IMF in B. O. P Support and Stabilization. Topic 11.International Movements of Factors and Welfare: Impacts / Issues Facts on International Capital Flow: ASEAN Crisis and Role of International Institution and Criticism. Motive for Capital Movement: Return and Risk Diversification. Why disagreement on International Movement of Labour? Welfare Impacts of Labour Movements. Factors of Production and Price Equalization Issues. Losses of National Sovereignty. Can Developing Countries Compete and Gain from Trade: Terms of Trade due to Demand Pattern and its Impacts. What Counts for wage Differential Between Primary Goods Producer and Value Added Goods Producer, Competitiveness Issue. WTO: GATT and Emergency of WTO. Why necessary to Join WTO?WTO: Expected Impacts on Trade, Liberalization and B. O. P; Special Status of Developing Countries and Net Food Importing Countries. Protections under WTO Rules. Are Free Trade Gains more than Restricted Trade? Gains for whom; how much and how long? Centre-Periphery Theory. WTO Rules: Sanitary, Phytosanitary, Dumping, Anti-Dumping etc Rules and Emerging New Issues and Their Impacts. Topic 12. Major Contemporary International Economic Issues: WTO: GATT and Emergency of WTO. Why necessary to Join WTO? WTO: Major Trade Rules and Their Expected Impacts on Trade, B. O. P Deficit. WTO and Fair Trade / Free Trade. Free Trade will it be?Issue of â€Å"Are Free Trade Gains more than Restricted Trade†? Emerging Regional Trading, Blocks, Special Preference and their Impacts. Issues relating to the Contributions of International Financial Institutions and Their Evaluations. Is there need to Reform International Institutions? Monetary Integration and Their Impacts. T erms of Trade Issue. International Debt Problem, Growth and Competitiveness. Issues of Developing Countries: Level of Development, Competitiveness and Trade Stability: World Income Distribution and Free Trade. Basic Readings: 1. Caves Richard, E. , and Jones Ronald W. , World Trade and Payments: An Introduction, Latest Editions.Little, Brown and Company, Boston, Toronto. 2. Chacholiades, Miltiades, International Trade Theory and Policy (Latest Edition). McGraw Hill Book Company, New York, London. 3. Donomick Sal Vatore B. , International Economics (Latest Edition), Prentice Hall. 4. Grubel Herbert C. , International Economics, (Latest Edition) Richard D. Irwin Inc. , Honewood, Illinois. 5. Peter Holinder & Thomas A. , Pugel. , International Economics. 9th Edition 1996. 6. Sodersten B. and Geoffry Read. , (1994). International Economics, MacMillan Press Ltd. 7. The Global Competitiveness, Report 1999, World Economic Forum, Oxford University Press, Oxford, New York. 8.World Bank. Worl d Development Report, 1986. Oxford University Press. Additional Readings: 1. Baldwin Robert L. and Richardson David J. , (1986). International Trade and Finance, Little Brown and Company, Boston, Toronto. 2. Moran Theodore H. , (1985). Multinational Corporations: The Political Economy of Foreign Direct Investment. Lexington Books. Toronto, Massachusetts. 3. Krugman and Obstfeld, International Economics: Theory and Policy, Addison Willey (1998). Paper 2. ECONOMETRICS: THEORY AND APPLICATIONS Topic 1:Introduction Definition and scope of econometrics, Econometric models vs. Statistical models Ingredients of econometric modelingSpecification, estimation, verification or evaluation and forecasting. Topic 2:The Classical Linear Regression Model (a)The Simple Linear Regression Model (SLRM) Estimation of SLRM by Ordinary Least Squares (OLS) Interpretation of Estimated Coefficients and their Economic Meanings. (b)The Multiple Linear Regression Model (MLRM) Estimation of MLR model by OLS and its assumptions Interpretation of estimated coefficients and their economic meanings, Computation of elasticities and standardized coefficients Using R2 as a measure of ‘Goodness of Fit’ and some roblems with its use. (c)The General Linear Regression Model (GLRM)Estimation of GLRM by OLS through Matrix Approach Var-Cov matrix of estimated coefficients. (d)Evaluating an Estimated Linear Regression Model Testing the significance of individual coefficients. Testing the significance of the model as a whole. Topic : 3 Multicollinearety What is Multicollinearety? Distinction between perfect Multicollinearety and less than perfect Multicollinearety (Multicollinearety problem). Consequences of Multicollinearety problem, methods for detection of Multicollinearety problem. Remedial measures for Multicollinearety problem. Topic: 4 Heteroskedasticity What is Heteroskedasticity and what are its causes?Consequences of Heteroskedasticity for OLS estimation. Methods for detection of He teroskedasticity. Remedial measures for Heteroskedasticity. Topic: 5 Autocorrelation What is Autocorrelation and its Causes? Consequences of Autocorrelation for OLS estimation. Methods for detection of Autocorrelation. Remedial measures for Autocorrelation. Topic 6:Forecasting with a Single Equation Regression Model What is forecasting and what are its various types? Important features of a good forecast. Variance of unconditional forecast error. Variance of conditional forecast error. Measures for evaluating the forecasting power of a model.Topic 7: Errors in Variables, Time as a Variable, Dummy Variables, Grouped Data, Lagged and Distributed-Lag Variables Errors in variables. Time as a variable. Dummy variables. Estimation from grouped data. Exogenous lagged variables. Endogenous lagged variables. Methods of estimation of lagged models. Topic 8: Identification The problems of identification. Implications of the identification state of a model. Formal rules for identification. Iden tifying restrictions. Tests for identifying restrictions. Identification and Multicollinearity. Topic 9:Simultaneous Equations Models Why Simultaneous Equation Models? Various Types of simultaneous equation Models. The identification problem.Checking the identification state of a model or of a particular equation in the model by Order Condition, bogus equation and reduced from approaches. Identification and methods of estimation. Topic 10:Consistent Estimation of Parameters of Simultaneous Equations Models Indirect Least Square Estimation. Two-stage Least Squares Estimation. Instrumental variables method of estimation. Topic 11:Varying Coefficient Models: Causes of Coefficient Variation. Randomly Varying Coefficient Models. Systematically Varying Coefficient Models. Topic 12:Time Series Econometrics ARIMA Models. Comparison of forecasts based on ARIMA and Regression Models. Unit Roots and Co-integration.Dummy Trap and its detection. Suggested Books: 1. Gujrati, D. Basic Econometrics , 3rd Edition, † McGraw Hill, 1993 2. IntrilligatorEconometric Model, Techniques and Applications, N. J. Printice Hall, 1978 . 3. Johnston, J. Econometric Models, McGraw Hill, 1984 4. Koutsoyiannis, A. Theory of Econometrics, McMillan, 1978 5. Maddala, J. S. Econometrics, McGraw Hill, New York, 1978 6. Wonnacot, R. J. Econometrics, John Wiley, New York & Wonnacot, E. 7. Madnani, G. M. KIntroduction to Econometrics Principles and Applications, (Latest Edition) 8.Pindyck &Econometric Models & Economic Forecasts, 3rd RubenfeldEdition, McGraw Hill Inc. 1992. 9. Maddala, J. & Kim Unit Roots, Co-integration and Structural Change, Cambridge University Press, 1998. 10. Griffiths, Judge, The Theory and Practice of Econometrics, John Willey and Sons, Latest edition. Research Articles: 1. Abadir (2002) Notation in Econometrics: a proposal for a standard. Econometric Journal, Vol. 5, issue 1, pages 76-96. 2. Abadir and Jan R. Magnum (1993) OLS Bias in a Nonstationary Autogregression, Eco nometric Theory, Vol. 9, issue 1, pages 81-93. 3. Don Andrews (2003). A Bias-Reduced Log-Periodogram Regression Estimator for the Long Run, Memory Parameter, Econometrica, 71, (2), 675-712. 4.Gunnar, Bardsen, (1999), Economic theory and econometric dynamics in modeling wages and prices in the United Kingdom, Empirical Economics, 24, (3), 483-507. 5. Joshua, Angrist, (2001), Estimation of Limited Dependent Variable Models with Dummy Endogenous Regressors: Simple strategies for Empirical practice. Journal of Business and Economic Statistics, 19, (1), 2-16. 6. Luc, Bauwens, (1994), Estimating End Use Demand: A Bayesian Approach. Journal of Business and Economic Statistics, 12, (2), 221-31. 7. Manuel, Arellano, (1992), Female Labour Supply and On-the –Job Search: An Empirical Model Estimated Using Complementary Data Sets. Review of Economic Studies, 59, (3), 537-59. 8.Stephen, Roy, Bonal, (1991), Some Tests of specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equation. Review of Economic Studies, 58 (2), 277-97. Paper 3. DEVELOPMENT ECONOMICS: THEORY AND POLICY Note: Students are expected to study latest editions of the recommended books. At least two research papers pertaining to each topic must be comprehended. Each topic must be prepared and analyzed critically. Any aspect of the topics may be asked in the examination. The course content provides a guideline. Students must prepare critical review of topics. Part: A Theoretical Foundations and Sector Specific Issues: Topic: 1 Scope and New DevelopmentsDefinitions: Economic Development and Growth, Identification of Development variables. Scope and Significance of Development Economics. Characteristics of LDC’s. Measurement of Economic Development and Growth. Per Capita Income approach, Quality of Life Index / HDI etc. Historical overview of world development and emerging major issues pertaining to Less Developed Countries (LDC’s). Why the whole world is not d eveloped? Topic: 2 Major Theories of Development – Classical and Neo-classical Theories, Adam Smith and Competitive Capitalism, Vicious Circle of Poverty, Stages of Economic Growth, Balanced and Unbalanced Growth, Big Push Theory. Dependency Theory, Structuralist’s View Point.Endogenous Growth Theory: New growth Theory. Income Convergence/ Divergence, New Growth Theory. Market Friendly Approach. Topic: 3 Agriculture and Industry Agriculture vs. Industry: Development Debate. Lewis’ Model of surplus Labor. Rains’ Fei Model and its critical review. Transforming Agriculture, Underemployment problem. Role of Agriculture: Market for Industrial Output, Provision of Input, food, Complementarity, productivity growth. Terms of Trade Issue and Subsidies, etc. and Competitiveness. Land Holdings, Green Revolution and it’s Performance. Need for Industrialization. Industrialization and its financing mechanism. Problem of Sectoral Dualism. Why Green Revolution?The Spread of Green Revolution in Pakistan and its Status / Contributions. Topic: 4 Population, Education and Human Capital Demographic Transition, Human Resources as a source of growth and their contributions. Investment in education and returns. Models of Employment & Unemployment: Time Criterion, Productivity Criterion and New Index etc. , and Employment generation Strategies/Techniques. Part B: International Development Issues and Debates Topic: 5 International Debt, Aid / Assistance Why international borrowing? Two Gap Model, Aid commitments and disbursement. Sources of borrowing. Debt Cycle Theory/Stages. Debt Burden: Debt Servicing, Debt laffer Curve, Debt buy back etc. Latin American Debt Crises, ASEAN Crises, Debt Problem of LDC’s and South Asia, Debt Overhang and threat to growth. Policies to combat debt problem: Forecasting debt and solution for debt burden, saving mobilization/Domestic resource mobilization, Debt rescheduling etc. Debt Modeling and Forecasting Future Implication. Topic: 6 WTO, Liberalization and International Trade Trade vs. Aid. Liberalization of Trade and its impacts/gains etc. , Foreign Exchange Constraints and Balance of Payment deficit. Role of GATT and its Failure. WTO and LDC’s. Trade Instability, Distribution of gains from Trade liberalization. Regional Trade Associations (RTA’s): their role and contributions. Basis for trade and benefits: Gains from Trade: Static and Dynamic Gains.Comparative Advantage, Revealed Comparative Advantage and Competitiveness. Trade as an engine of growth. Product Cycle. Determinants of exports growth. Transfer of Technology: Sources & Need. Technology Centered Development and Appropriate technology issue. Topic: 7 Transnational Corporations (TNC’S), FDI and Development Transnational Corporations (TNC’s): Objectives, Role and Contributions, Long term cost of TNC’s. Transfer of Technology: Ways and Means. Global integrated production system: TNC’s and Globalization, Foreign Direct Investment (FDI) and Its Determinants/Role. Foreign Direct Investment (FDI) and TNC’s. Flow of FDI and its contributions.Topic: 8 Poverty and Income Distribution Definitions and Measurement of Poverty/Poverty Line. Poverty concepts/definitions. Absolute Poverty, Relative Poverty, Income approach, Expenditure approach, Basic needs approach, Poverty of Opportunities Index (POPI) and Calorie-based approach etc. Poverty Indicators. Poverty by socio-economic groups. Sources, impacts and policies to combat poverty. Strategies and tools to combat poverty. Growth and Income Inequality in the world. Empirical evidences on poverty. Redistribution with growth. How to combat income inequality. Basic Needs, Social Action Programs and Poverty alleviation. Topic: 9 Environment and DevelopmentModel of Environment and Economic Activity. Market Based Approach and Externalities. Deforestation and Renewable Resources, Measuring environment values. Deforestation and Macroeconomic Environment. Industrialization and its environmental cost, Use of Pesticides and Environmental Impacts. Natural resources degradation. Cost of Pollutions/Environmental degradation. International awareness about environment, production and need for Reforms. Economic thoughts and Environment. International Agencies: Environmental concerns and programs. Urbanization and environmental issues. Sustained development, Ecology and economic progress. Topic: 10 Growth ModelsHarrod-Domer Model, Technical Change and growth Model, Kaldor’s Model of Distribution, Joan Robinson’s Model of capital accumulation, Model of Steady State Growth. Saving-Investment and Golden Rules. Recommended Books: 1. Balasubramanyam V. and Lall, S. (1992, eds), Current Issues in Development Economics. McMillan , London. 2. Chaudhary M. Aslam and Hamid, A. , (1999). Human Resource Development and Management in Pakistan. Ferozsons, Lahore. 3. Chenery H. B. and Srinivasen. Hand Book of Develo pment Economics,* vol. I & II, Amsterdam (1988, eds. ). North Holland. 4. Cypher J. M. and Dietz James L. , (2004), The Process of Economic Development, Routledge.Tayl or Francis Group, London/New York. 5. Ghatak Subarta, (2003), Introduction to Development Economics, Routledge, Taylor and Francis Group, London/New York. 6. Herrick B. and Kindleberger C. , (latest eds. ). Economic Development. McMillan, New York. 7. Hirshman A. O. , (1960). Strategy of Economic Development, Yale University, Press. 8. Jones H. G. , An Introduction to Modern Theories of Economic Growth, (Latest Edition), McGraw Hills. 9. Mahboob-ul-Haq Center for Human Development (MHCHD). Human Development in South Asia, Annual Reports, Islamabad. 10. ————- (1999), A Profile of Poverty In Pakistan, (In Collaboration with UNDP). 11. Meier Gerald M. Leading Issues in Economic Development, (Latest Issue), Oxford University Press. 12. Thirlwall, A. P. , (2003), Growth and Development, With Spe cial Reference to Developing Economies 7th edition, Palgrave Publisher. 13. Todaro M. P. , Economic Development in the third World. Latest Edition, Heinemann, London. 14. UNDP, Human Development Reports , Annual Reports. 15. Van Den Berg H. , (2001), Economic Growth and Development,* McGraw Hills. 16. William, Easterly, Growth without Development, A Case Study of Pakistan, World Bank. 17. World Bank, World Development Reports, Annual reports, 1986, 1987, 1990, 1991, 1992, 1994, 1995, 1998/99, 2000/2001 and 2004. 18. Yotopolous Pan A. and Nugent Jeffery B. Economics of Development, Empirical Investigation (Latest Issue). Harper and Row Publishers, London/New York. Paper 4: RESEARCH METHODOLOGY Importance of Research Methodologies. Research techniques in social sciences and their limitations. Theory and basis of research. Empirical and theoretical research. Stages of research process. Identification of problem/issue, data, theory and estimation and related problems. Thinking, Field Re search Designs; the process of field research, Exploratory Research, Casual Inference. Methods of communication in survey. Vision survey and communication techniques. Art of asking questions and getting quality information.Preparation of Research Proposal Questionnaire, Sample Design; the Nature of Sampling, Measurement and Scaling; Measurement, Measurement Scales, the Characteristics of Sound Measurement, the Development of Measurement Tools, Scaling, the Nature of Scaling, Response Methods, Scale Construction. Data Collection Methods, Survey Instruments and Field Procedures; Survey Instrument Designs, the Survey Situations, the Instrument Development Process, Questionnaire Development, Field Procedures, Personal Interviewing, Telephone Interviewing, Interviewing by mail, observations. Data collection, Observation, Experimentation and Simulations; Experimentation and Simulation.Choice of Research Technique, Experimental Research Design, Simulation, Observation, Observation Designs. Use of Secondary Data; the Nature of Secondary Data Sources, the Use of Secondary Data, Types of Secondary Data Sources, Statistical Sources, Data Research Procedures, Evaluating Secondary Data. Vision Survey: Interpretation of Replies. Data Presentation and Analysis: Elements of Analysis, Data Preparation, Special Data Problem, Tabulation, Data Presentation, and Data Analysis. Report Writing; the Questions and analysis of Research Proposal. Organization of Research Paper. How to format and Write country Research Report. Executive summary and abstract of a report.Conclusion and its basis. Evaluation of Research Work. The Research Report, Research Report Format, Writing and editing of research Report. Recommended Books: 1. Birchenhall C. and Grout P. , (latest edition), Mathematics for Modern Economics, Herifaq Publishers, New Delhi. 2. Holt, Rinehart and Winston, Holt-Sounders Japan Ltd. Tokyo (Latest edition). 3. Johnson, Glenew Research Methodology for Economists: Philosophy and Practice, McMillan Publishing Co. (Latest edition). 4. Kidder Louise H. , Research Methods in Social Relations. 5. Lambert, P. , (1985) Advanced Mathematics for Economists. Static and Dynamic Optimization, Basil Black Well. 6. Neuman W.Lawrence, (1997) Social Research Methods, Qualitative and Quantitative Approaches, Allyn and Bacon; Boston. 7. Sckaran Business Research Methods 8. Uma, Sekarn, (1992), Research Methods for Business. A Skill Building Approach, John Willey & Sons, Inc. 9. Young Pauline V. , (latest edition), Scientific Social Survey and Research, Prentice Hall Inc. 10. Zikmund William, G. , (1994), Business Research Methods, The drydem Press. OPTIONAL PAPERS Paper 5. 1: ADVANCED MATHEMATICAL ECONOMICS Topic 1:Complex Number and Circular Functions Imaginary and Complex Numbers. Complex Roots. Circular Functions. Properties of Sine & Cosine functions. Eular Relations.Alternative Representation of Complex Numbers. Topic 2:Integral Calculus Dynamics and Integration. The Na ture of Indefinite Integrals, Basic Rules of Integrations & Rules of Operation. The Substitution Rule and the Rule of Integration by Parts. Definite Integrals. Major Properties of Definite Integral. A Definite Integral as an Area Under a Curve. Improper Integrals. Economic Applications of Integrals – Finding Total Functions from Marginal Functions, Investment & Capital Formation, Present Value of Cash Flow. Present Value of a Perpetual Flow, Domar Growth Model. Topic 3:Differential Equations: Continuous Time: First Order Linear Differential EquationsMeaning and Definition; Homogenous & non-Homogenous Cases. Solution of First Order Linear Differential Equation with Constant Coefficient & Constant Term and its Verification. Economic Application: Dynamics of Market Price. Solution and its Verification of First Order Differential Equation with Variable Coefficient and Variable Term. Exact Differential Equation, its Solution and Verification. Non-linear Differential Equations of t he First Order and First Degree. Bernoulli Equation, Separable Variables. The Qualitative Graphic Approach. Concept of Phase Diagram, types of Time Paths and their Dynamic Stability. Economic Application: Solow Growth Model.Topic: 4 Differential Equations: Higher Order Differential Equations Solution and Verification of Second order Linear Differential Equations with Constant Coefficient and Constant term-Distinct Real Roots, Repeated Real Roots and Complex Root Cases. Dynamic Stability of Equilibrium. Economic Applications. A Market Model with Price Expectations. The Interaction of Inflation and Unemployment. Solution of Higher order Differential Equations with Constant Coefficient and Constant Term. Convergence and the Routh Theorem. Topic 5:Difference Equations; Discrete Time: First Order Difference Equations Solution and its Verification of First Order Difference Equations. The Dynamic Stability of Equilibrium.Economic Applications – The Cobweb Model, A Market Model with Inventory. Nonlinear Difference Equations – The Qualitative-Graphic Approach. Phase Diagrams Types of Time Path. A Market with a Price Ceiling. Topic: 6 Higher Order Difference Equations Solution and Verification of Second-Order Linear Difference Equations with Constant Coefficients and Constant Term-Distinct Real Roots, Repeated Real Roots and Complex Roots cases. The Convergence of the Time Path. Economic Applications, Samuelson Multiplier-Acceleration Interaction Model. Inflation and Unemployment in Discrete Time. Higher Order Linear Difference Equations and their Solutions. Convergence and Schur Theorem Again.The Solution of Simultaneous Differential Equations. Topic 7:Non-Linear Programming The Nature of Non Linear Programming Non-Linearities in Economics. Kuhn Tucker Condition. Interpretation of Kuhn Tucker Condition. Kuhn Tucker Sufficiency Theorem: Concave Programming. Arrow Enthoven Sufficiency Theorem: Quasiconcave Programming. Economic Application-Utility Maximizat ion, Least Cost Combination. Solving a Nonlinear Program via the Kuhn-Tucker Conditions. Recommended Books: 1. Chiang A. C. Fundamental Methods of Mathematical Economics McGraw Hill (3rd Edition) 1984. 2. Dowling Edward T. Mathematics for Economics Schaum Series, 1981. 3. Glass Colin J.An introduction to Mathematical Methods in Economics McGraw Hill. 4. Haung David, S. , Introduction to the set of Mathematics in Economic Analysis Graphical Approach, Simplex Method, Economic Application of linear Programming N-Y John Wiley and Sons, latest edition. 5. Hoy M. , Livermois J, Rees R, Stengos T. , Mathematic for Economics, 1996. Addison0Wesley Publishers limited. 6. Weber E. Jean, Mathematical Analysis, Business and Economic Application (latest edition), Harper and Row Publishers, New York. 7. Yamene, Taro, Mathematics for Economists, Prentice Hall, latest edition. Additional Readings: 1. Allen R. G. D. , Mathematical Economics, London, Macmillan English Language Book Society. 2.Edey & P eacock, National Income and Social Accounting London, Hutxchinson University Library, 3rd Edition. Paper 5. 2: APPLIED ECONOMICS AND COMPUTER APPLICATION Topic 1:Introduction to Windows 2000 and Ms-Word Operating System, Performance Management, Desktop Management, Printer Management, Internet Explorer, E-mail. MS-Word, using Advanced Formatting Features, Sharing data with Word, Word Macros, Composing Models and Mathematical Equations. Topic 2:PowerPoint and MS-Access (XP) Database Concepts, File Linkages, Data Retrieval, Data Editing / Updating. Data Transferring. Topic 3:SPSS and E-View Menu, Tool Bars, File Linkages, Dialog Boxes. Data Analysis, Analysis of Variance.Simple and Multiple Regression Analysis, Formatting Reports, Creation and Modification of Chart, Line Area and Pie Chart. Output Navigator Printing, Data Editor Printing, Command Syntax Printing. Use of E-view for Model Estimation. Topic 4:Estimation of Production Function Use of Computer, SPSS, E-View to Estimate Prod uction Functions. Cob-Douglas Production Function, Constant Elasticity Production Function etc. Topic 5:Computer Applications: Demand – Supply & Equilibrium Estimation of Demand and Supply using E

Enlarging My Conversation Essay

Abstract The purpose of this essay is to ascertain what needs to be done concerning my personality that will aid in my efforts to become a better-rounded contributing member of society. I will explore several aspects of this journey and lay them out for you, the reader, in order to give you a clear understanding of what is involved in trying to adapt to your surroundings. For example, when I took the DISC test I learned I have an I/C personality. As I read what that means I could not argue the findings because so many of them described me very well. In the body of the following text, I unfold the highlights of what I am expecting to experience, e.g. defining the enlargement of my conversation, how my background and behavioral blend influences my conversation, bring to light potential barriers, develop some solutions for the noise pollution which interferes with my goal, putting together a plan of action to improve myself, and finally, I will map out the procedures needed in order for me to control a better me. Enlarging My Conversation A workable definition of the Title An acronym was created by using a term Dr. Carbonell used in the title of his book Extreme personality makeover: How to develop a winning Christ like personality to improve your effectiveness, using the term makeover. By following the principles of this acronym, I hope to render a definition for the title for the phrase: Enlarging My Conversation. Make the decision to have a makeover Accept the â€Å"way† God made your personality Know your strengths and â€Å"uniquenesses.† Emulate the good traits of all the personality types. Overcome your doubts and obstacles. Visualize what you can become! Expect challenges to your makeover Renew your commitment daily (www.uniquelyyou.com).   I soon discovered that defining my personality was a little more complex than anticipated, and even then the information didn’t fully register. It took a little thought on my part, but I would define the enlarging of my conversation as the action needed to build a better me. However, this is a difficult task at best. How does one go about changing the personality that was developed over a long period of time? Are there sequential steps to follow? Is there a book that can be purchased or read that will set your feet on the path of enlightenment? These are the questions I found myself facing for which I did not have an answer.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To try to find these answers I searched the Internet for literature that would express a similar journey someone else had already taken, and I also asked people I know. The answers I received were interesting yet I wondered how they would apply to my journey. I considered the possibility of asking the wrong questions and actually sat down and tried to make a list from which to choose questions that would supple pertinent information, but I could not come up with a generic set. This still leaves that area open and my hope is that it will become clear to me what I need to do to get the answers to alleviate the struggle for enlightenment.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The DISC test played a huge role in my determination to discover ways to change from who I am now into who God wants me to be. The letters that form the word DISC are an acronym and stand for personality traits:   † D † – Dominant/ Driver; † I † – Influencing/ Inspiring; † S † – Stable/ Steady; and † C † – Compliant/ Correct. My combination of these is I/C which means my personality is best defined as a person who is influential and inspiring and at the same time is compliant and correct. I do find that I fit into this personality trait, and also believe it is the one thing that hinders me from enlarging my conversation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To me, enlarging my conversation entails a deliberate acceptance of others’ view point whether I agree with it or not. It is the idea that I can live with people and have healthy relationships even though my view on life itself contradicts everything they hold as truth. An expert in behavioral sciences, Dr. Mels Carbonell translates the DISC personality assessment in an understandable and useful form. He masterfully explains the links between our unique personalities and spiritual gifts, even showing possible challenges (uniquelyyou.com). If I was as knowledgeable as he is, this might not be such a hazardous journey for me. I am sure, though, that he writes from his experiences in life, and since mine are totally different than his, I will have to approach this from a different angle.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I suppose putting a definition on paper might help in the thought processes required to change a person’s personality, yet rarely can we relegate life down to a science. It is the very nature of life itself that makes it so adventurous and difficult to predict. Therefore, I have come to the conclusion that my definition for enlarging my conversation is the ability to hear the conversation of others and allow it to affect the paradigm that controls me and bring about a positive result. Behavioral Blend Affects Conversation   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"I/C Types are inspiring, yet cautious. They size up situations and comply with the rules in order to look good. They are good at figuring out ways to do things better through a lot of people. They can be too persuasive and too concerned about winning. They are often impatient and critical. They need to be more sensitive to individual feelings. They are often more concerned about what others think. They do not like breaking the rules; neither do they enjoy taking risks. They need to try new things and sometimes go against the crowd. They are careful communicators who think things through† (Carbonell, M. (2005) Extreme Personality makeover. Blue Ridge. Uniquely You Resources.)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To say that things of this nature do not affect people’s lifestyle would be considered naà ¯ve. I understand the task before me, and believe that this understanding affects my present behavior I will be essential in equipping me to make the change a lasting one. So, being the cautious, yet inspirational person I am, I will march forward in search of my holy grail with anticipation and exhilaration. I expect to run into some road blocks and barriers, but this is what it takes if I am to change the way my behavioral blend affects me and those around me.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   One of the disadvantages of I/C blend is I tend to be overly cautious. Even in the face of tremendous encouragement from others, I still find myself lagging behind where they think I should be. Given what I know about Christianity, and the potential for change that is a result of studying the lifestyle closely related to Christianity, I am encouraged in my efforts. My experience as a soldier in the military has afforded me the discipline needed to make a change which enables me to find the means whereby this can actually happen. I have noticed how quickly I am to reject something new. This must be due to the way I was raised, yet after experiencing military life I thought it would not be so difficult.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The things I learned as a soldier have definitely had a strong impact on my personality, but I always considered that a good thing. The influence that impacted me to be a disciplined soldier, however, is different from what I need to change so I can better serve the Lord and others. Since being a servant is a priority for me, I am hoping that the journey from who I am to who I can become will be moderately pain free. Given my tendencies to remain like I am, I do anticipate some sort of struggle but I hope my tenacity is steady enough to overcome this barrier.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the positive side of my behavioral blend is the inspirational me. I have noticed how this has helped others in the past and hope that the change I make will allow me to keep this particular trait. I really don’t know what to expect, neither can I positively define what my goal looks like, but I do know I am experiencing the need for a change. I also feel like I will know what it looks like before I get there, but at this point I think the definition and expression are some representation of what I now know. Of course, all of this will change as I continue the journey into the unknown me. Interpersonal Barriers   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Barriers are only barriers until we notice them and are ready to remove or overcome them. The highest priority given to interpersonal barriers is to the barrier of listening. Madeline Burley-Allen wrote a book on the subject, Listening, the forgotten skill: A self-teaching guide.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A proven program for turning effective listening into a powerful business tool Managers and other employees spend more than 40 percent of their time listening to other people but often do it so poorly that the result is misunderstood instructions, misdirected projects, and erroneous actions— millions of dollars‛ worth of mistakes just because most people don‛ t know how to listen. In this new edition of her classic guide to the art of effective listening, Madelyn Burley-Allen shows you how to acquire active, productive listening skills and put them to work for you— professionally, socially, and personally (Publisher’s comments). This is a barrier we are taught to deal with at a very young age. For me it is the replacement of the ‘filter’ in my mind through which all information travels. By the time my brain has decoded the incoming message, if I am not careful; I will only hear what I want to hear and nothing else. Allen demonstrates how this affects our lives and gives practical advice to help us cut through our own listening bias, or the changing of the filter.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   [active listening] is a way of listening and responding to another person that improves mutual understanding and trust. It is an essential skill for third parties and disputants alike, as it enables the listener to receive and accurately interpret the speaker’s message, and then provide an appropriate response. The response is an integral part of the listening process and can be critical to the success of a negotiation or mediation (Richard Salem, Empathic listening).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"Listening means better grades,† according to Allen. â€Å"Better grades mean our self- concept will move up a notch or two† (pg 8). This is a very inspiring statement. If I have the opportunity to look at the change I need to make as a positive thing, then statements like the one Allen makes is sure to give me a boost when I’m not sure how to proceed. I hope to be able to say as the quote Allen used on page two says, â€Å"I am more honest with myself now.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I find difficulty arises when I try to picture myself as someone I am not. This is a common role-playing thought pattern that most, who will admit it, play on a daily basis. We are taught from childhood to emulate others’ actions or to refrain from doing the same. The only caution sign I can see in this behavior is the disappointment it can lead to when the desired goal is unattainable. Effective listening involves not only tuning into others, but tuning in to ourselves (pg 6). This remark is profound and life changing, but only as I adhere to the philosophy it represents.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The road to adventure in life is laden with people who have interesting things to say. If we are guilty of rushing our lives to meet some goal we face the possibility of missing out on some things that could enrich our experience and help us in the future. Listening is a huge barrier for all of us to overcome, and the first step in doing so is recognizing that the barrier exists and is hindering our progress.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Listening is not the only barrier I face. I also have difficulty with pride. This is not to say I think I am better than the next man, but it does keep me from experiencing something different because I have already built a paradigm that rejects some particular life experience as judges it as no good. I liked what Cloud had to say about realizing the need for a change and the difficulty in trying to discover how to implement that change. On page five of his book, Nine things you simply must do to succeed in love and life: A psychologist probes the mystery of why some lives really work and others don’t, there is a revelation sandwiched between to double line bars that reads â€Å"People who found what they were looking for in life seemed to do a certain set of things in common† (pg 5). Again, I am approached with the idea that there must be some sort of formula I can follow to reach my still indescribable goal of change. A Solution to Noise Pollution   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It can be quite daunting to face obstacles with a clear mind and set goals, however, if there is outside interference then the job becomes nearly impossible to do. When I think of all the efforts of people who lived before I did, and compare to mine the ordeals they encountered by reading their stories, I find myself wanting to write my journey down so others might gain some insight. People will surprise you; we even surprise ourselves from time to time. I can think of a few times in my past when I was trying to make a major decision and there seemed to be too much information to wade through in order for me to make a sensible choice.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Outside, external barriers include such overwhelming information. This can be quite debilitating if you happen to be the person who loves research and tends to overdo the research end of writing. Finding a balance between reading and writing brings a wonderful feeling of satisfaction. However, when trying to determine which pieces of data to use in the document needed it can get frustrating. External ‘noise pollution’ unbalances the healthy breakdown of communication as described by Allen. The only means I have discovered to this point that helps me overcome external noise pollution is brainstorming my data on paper. I do this by writing everything that comes to mind around a central topic. From that I choose which pieces of information to include in my document and then I can formulate a useable outline to create my document.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Inside conflict is ‘noise’ within itself that is able to trap your thoughts into a loop where you end up ‘spinning your wheels’ and ultimately never make a choice. Allen breaks down the time we spend in communication into four divisions. They are Listening, Talking, Reading, and Writing. These are the four main avenues of communication. Forty percent is the allotment given to listening. In a world where it seems people really love the sound of their own voice, I’m wondering how we survive as long as we do. Allen precedes these percentages by stating that we spend nearly seventy percent of our waking hours communicating (pg 2).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This leaves us with a dilemma: If it takes more listening for us to be better rounded individuals and we are prone to do more speaking how can we find a balance? What’s more; are we searching for a balance? As I stated a few sentences before, people love the sound of their own voice. There are psychiatrists that will tell you the only thing they did to help some of their patients is to just let them talk. I find that when I am in anguish or stressed out the best therapy for me is to talk it out. Some people talk to themselves for this very reason. They do it to remove the noise pollution in their minds.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If there is noise pollution in the thoughts we think, where does it come from? It seems to me that if we can discover what triggers the noise pollution maybe we can take some preventative measures and avoid it all together. Unfortunately, I have not found the individual who can lead me into this level of discipline, so I struggle with this facet of changing my conversation until I come to the point of revelation that explains what to do about it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This leaves an empty space that continually gets filled with junk and emptied when I prove it to be of no value. I realize there is a way to reduce, and in some cases remove noise pollution but it seems that just as soon as the noise is removed it immediately gets replaced by something else. I have come to the conclusion that this facet of my conversation will constantly need my attention, which I suppose, would keep me on my toes in regards to bad information. Plan of Action   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Devising a plan of action to help me enlarge my conversation means I will have to endure some needed changes until I am comfortable using the new methods in such a way that enables the needed change. The old clichà © â€Å"Change can be a good thing† rings true in the effort to enlarge my conversation. Changing something that is as complicated as your set paradigms takes a great deal of self-effort. This doesn’t come easy, of course, and all the expert help we can get will not replace the role we must play.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   My plan of action is to try to be more open-minded about things on a personal level. I believe when I really ‘hear’ the different viewpoints on a given topic and make a rational judgment concerning the same, I will have the beginning of a new paradigm; one that will enlarge my conversation. This is probably the most difficult thing for a human to do because we are all raised in different homes and all have different paradigms upon which we build everything that develops our conversation. I have heard people say that if they had the chance to just sit and listen to others they could tell you what sort of person they are. If this is true, then our words, and the way we use them, are tell-tale signs of who we really are.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, for us to develop a plan for change, we will have to discipline ourselves to accept things we would not normally accept; even if these things are contradictory to what we describe as truth or real. The healthy change will not include merely accepting new input as much as it is the possibility that we would at least examine it. Before I can establish a plan of action I must accept my new role in accepting new input. I find a little consolation in the fact that I do not have to accept input simply due to it being something I have never done before; I am actually given the opportunity to explore it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Exploration was the founding principle of the United States, or any other country. If not for this facet of life there would be no technology to boast about, and life, as we know it, would not exist. This begs the question, â€Å"Why is it so difficult for us to accept change?† If exploration has brought us to where we are socially, it stands to reason that it will be exploration of the world around me that helps enlarge my conversation. Challenges of this nature are the very reason why people do not change. It is a matter of personal involvement and most are just too comfortable in their present state.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The fact that I am achieving a higher education means that I am willing to accept new things as long as they apply to my priorities. If I can use the same thought pattern that makes me accept this, I stand a better chance of enlarging my conversation with a minimal amount of pain. So, I have set out to devise a plan of action that I will describe in the next section as I map out the procedures I believe it will take to initiate this plan. Mapping it Out   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To achieve my current level of education I had to lay out a map. To reach my ultimate goal in education I must follow the map I have laid out. If I deviate from it will it will affect more than just not going to that class. It will affect what I learn and when I learn it which means I may have a difficult time in a subject that could have been avoided by following the map.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The same is true for enlarging my conversation. As hard as it may be, I must lay out a map defining the steps needed and in what order they need to be taken. As I see it, and as I mentioned earlier, the first destination on my map is listening. The effort I must make in this endeavor is to open myself to new ideas. As this becomes more common place it will be easier for me to figure out how to productively use that new data. Some of it will not be worth much, but it still adds to the data base from which I draw my logic.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After accepting new data I must analyze it. This will help me determine the usefulness of the data. Once this is done I can store that away in the corners of my mind to pull out when it is needed. Although our brains are very complicated, we can still compare this process to the computers we use every day. The only information you can get off of the hard drive is what has been stored there.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As people grow older I hear the common complaint of not being able to remember things from their past. I am amazed that they can recall as much as they do given all they have learned and the time frame that is involved. The size of the computer that would store the information of just one human in their life-span would be enormous. It is absolutely mind boggling to think about the many millions of pieces of information stored in a human’s brain over the course of seventy years. Life spans are growing larger all the time, so the technology it would take to record all that information would also need to increase in complexity.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On my journey to enlarge my conversation I have already encountered some struggles, and I expect there to be more. However, if I do not start I will never finish. Mapping out a game plan will aid in my attempt. Accepting more information, filing it away properly, and recalling it when needed is just the beginning stage of it. After all this takes place I have to interpret the information in a manner that is conducive to my goal. For example, I can learn how many shots of whiskey it takes for me to get drunk, but that data would not provide much in the way of enlarging my conversation. Getting drunk may cause me to talk a lot, but it will not enlarge my capacity to engage in healthy conversation with a contradictory view.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   My over all goal from this lesson is to become a better person. If I can achieve that before my life is over I will be able to lay my head on my pillow, pull my feet up in the bed and say â€Å"I have fought a good fight, I have finished my course, I have kept the faith: Henceforth there is laid up for me a crown of righteousness†¦ (2 Timothy 4:7,8). Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finally, I have come to the end of the road, as it were, and I am ready to depart on this journey of a life time. I realize that no matter how long I live this journey will continue. It is one of the most encouraging things about life. There is always a new adventure around the corner, and there is always a mind-blowing piece of information awaiting an open mind. There is the endless possibility of changing into the person we actually want to become. There are all the people we want to meet, and those we do not expect to, both with anecdotes that encourage us to live life to the fullest.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I have discovered the definition of enlarging my conversation as it applies to my personal variables in life. I have explored the behavioral blend of my personality that describes me fairly well; I recognize the barriers impeding my progress and what I need to do to overcome them; I have learned what noise pollution is and what to do to remove or reduce it; I have explained my course of action that invites others to render input; and I have also laid out a map to follow to help keep me on this path of change. With these areas of my conversation being covered so well, I believe there will be no way to stop my conversation from enlarging. In fact, I will admit to looking forward to not only enlarging it, but also to record how it gets done.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Enlarging my conversation places me on a new plateau from which I can launch into the unknown; the mysterious; the vastness of person-hood that has yet to be explored. From the launching pad of fervor, intellect, idealism, and curiosity I will rocket into new ideas, personality traits, and positions in life other wise unattainable. I welcome the journey. References Extreme Personality Makeover. (n.d.) How to develop a winning Christ-like personality to improve your effectiveness. Retrieved January 25, 2007 from,   http://www.uniquelyyou.com/newsite/pdf/Cat0306/pg8.pdf. Carbonell, M. (2005) Extreme Personality makeover. Blue Ridge. Uniquely You Resources. Salem, Richard. (July 2003).  Empathic Listening.  Retrieved January 25, 2007, from   http://www.psywww.com/psyrelig/psyrelpr.htm Allen, Madelene Burley. (1995). Listening, the Forgotten Skill:: A Self-Teaching Guide. 2nd edition. New York, NY: John Wiley & Sons, 1995. Cloud, H. (2004). Nine things you simply must do to succeed in love and life: A psychologist probes the mystery of why some lives really work and others don’t. Nashville, TN:Integrity Publishers. Holy Bible. (1611). II Timothy 4:7,8. Cambridge University Press. London, England.

Bull Rider Summary

Layne and his mom have an argument about Layne joining the bull riding competition, because her mom didn’t want him to join in bull riding because of her husband who died in a bull riding competition and she don’t want that to happened to Layne, while Layne really wants to join bull riding because his dad has a dream of being a champion on bull riding competition and Layne wants to fulfill that dream for him. Questions: (Circle the best answer) 1) Why does Layne`s mom don`t want him to join the rodeo? a. Layne’s mom was afraid to lose him like his dad who died in a rodeo. b. Layne didn’t eat his vegetables. 2) What is their argument about? a. Layne’s wants a new ipad. b. Layne’s joining the bull riding competition 3) Why Layne wants to be a bull rider? a. For the girls who scream for his name when his bull riding. b. To fulfill his dad dreams. Chapter 2 Vocabulary Words: Trading The action of engaging in trade. Doubtful Feeling uncertain about something. Rodeo An exhibition or contest in which cowboys show their skill at riding broncos, roping calves, wrestling steers, etc. Corral A pen for livestock, esp. cattle or horses, on a farm or ranch. Arena A level area surrounded by seats for spectators, in which sports, entertainments, and other public events are held. Contractor A person or company that undertakes a contract to provide materials or labor to perform a service or do a job. Chute A sloping channel or slide for conveying things to a lower level Chute Fighter A rough stock animal that will not stand still and tries to fight the cowboy before he leaves the chute. Hornets A large stinging wasp that typically nests in hollow trees Summary: Terror and Layne goes to Kelvins arena where they meet Jana. Jana is Jack Kelvin’s daughter. Layne goes every time to Jana when her parents are not in the ranch to have some bull riding practice. When Layne was about to practice bull riding he met Rhino the brahma bull who has only one horn, Jana don’t want to give Rhino to Layne to ride on but Layne really wants to ride Rhino because he wants to challenge his skills to get better and Rhino was the perfect bull for it so Jana let him ride Rhino. While Layne was riding on Rhino he saw a man with red shirt. Question: (True or False) 1) Jana is Jack Kelvin’s daughter. TF 2) Jana wants Layne to ride Rhino. TF 3) Layne saw a man with black shirt while he was riding Rhino. TF Chapter 3 Vocabulary Words: Glimpse A momentary or partial view. Mauled Wound by scratching or tearing. Jackknife A knife with a folding blade. Blame Assign responsibility for a fault or wrong Stunned Knock unconscious or into a dazed or semiconscious state. Scrambling Move hurriedly or clumsily from or into a particular place or position. Uncurled Straighten or cause to straighten from a curled position. Gallop A very fast pace of running or moving. Scuff Scrape or brush the surface of against something. Muttered Say something in a low or barely audible voice, esp. in dissatisfaction or irritation. Summary: Layne fell off from Rhino, Layne was scrambling on his feet then Rhino get back at him and hit him then Layne has trying to get out of there as fast as he can but it was too late Rhino`s head slammed him back down to the ground. Then Terror and Jana help him out, Terror distract Rhino from getting back to Layne and Jana lock Rhino to his cage. Then the guy with the red shirt came to them it was Chase Kincaid Jana`s Grandfather. Chase and Layne have a conversation about Layne`s dad Jeff McQueen. Then Chase saw Layne`s wound and he wrap his wound using a handkerchief and Layne`s strip shirt. Question: (Fill in the blanks) 1) Layne’s father is ____________. 2) ________ And ________ are two things Chase used to cover Layne’s wound. 3) _______ distract Rhino from getting back to Layne. Chapter 4 Vocabulary Words: Blab Reveal secrets by indiscreet talk. Stumbling rip or momentarily lose ones balance. Steam Be or become extremely agitated or angry. Crumpled Become bent, crooked, or creased. Suspicious Having or showing a cautious distrust of someone or something. Stern Serious and unrelenting, esp. n the assertion of authority and exercise of discipline. Crease A line or ridge produced on paper or cloth by folding, pressing, or crushing it. Disgusted Cause to feel revulsion or profound disapproval. Ruined Cause great and usually irreparable damage or harm to have a disastrous effect on. Relief The alleviation of pain, discomfort, or distress Crumpled Becom e bent, crooked, or creased. Summary: Layne and Terror went back home and the next morning Layne’s mom goes to his room to pick up his dirty clothes he was very worried about what will be the reaction of his mom if she knows about what he did. His mom saw his shirt that has blood and she thought Layne got the blood on his shirt on his rugby practice then Layne was relief of his worries that his mom going to know about what he did. Question: (Fill in the blanks) 1) _____ is the sport Layne in the school. 2) To pick up Layne’s dirty ______ is the reason why his mom goes to his room. 3) Layne is worried about his _____ if she knows about what he did. Chapter 5 Vocabulary Words: Strolling Walk in a leisurely way. Wring Obtain (something) with difficulty or effort. Ambush A surprise attack by people lying in wait in a concealed position. Streaks A continuous period of specified success or luck. Static Lacking in movement, action, or change, esp. in a way viewed as undesirable or uninteresting. Limp Walk with difficulty, typically because of a damaged or stiff leg or foot. Sheepishly like or suggestive of a sheep in docility or stupidity or meekness or timidity. Scornful Feeling or expressing contempt or derision. Aces A person who excels at a particular sport or other activity. Gruffly If you describe someone as gruff, you mean that they seem rather unfriendly or bad-tempered. Summary: Layne talks about what he do in school and he was so nervous to go home, afraid of maybe his mom knows that he ride a bull and got hurt. Then he went home his mom was there but she has still no Idea about what he did so everything was all right. Then terror told him that Chase wants him to in the arena, so Layne and Terror go there and at first Layne thought that Chase will get his bull rope and then chase ordered Terror and Jana to get a couple of young bulls so they did. Then Chase told Layne that he were going to teach Layne to ride bulls as long as he can keep it a secret and Layne was so happy about it because his dad once told him that Chase was the best bull rider he ever known. Layne ask Chase Why will he teach him and Chase told him that he remember how tough being a kid that you want to do something so bad, but nobody thinks you’re old enough to handle it. Question: (True of False) 1) Layne’s mom has no idea about him riding a bull. TF 2) Chase called Layne to have a pizza in the arena. TF 3) Layne’s is nervous to go home because of his mom. TF Chapter 6 Vocabulary Words: Suddenly Quickly and unexpectedly. Suicide The action of killing oneself intentionally. Plunged Jump or dive quickly and energetically. Demanded Ask authoritatively or brusquely. Disposition A persons inherent qualities of mind and character. Supposed Generally assumed or believed to be the case, but not necessarily so. Argue Exchange or express diverging or opposite views, typically in a heated or angry way. Rhythm A persons natural feeling for such arrangement. Trudged Walk slowly and with heavy steps, typically because of exhaustion or harsh conditions. Cowboy A man, typically one on horseback, who herds and tends cattle, esp. in the western US and as represented in westerns and novels. Summary: Chase started to teach Layne how to ride a bull. But he noticed that Layne is holding his bull rope wrong and dangerously. Layne’s rope holding is called the suicide wrap it was thought to him by his dad. And Chase used this Idea to get on Layne’s head and make him mad. Layne ride the bull and he got no rhythm on what he was doing and hit the ground hard. Chase says he has no concentration on his riding and he was just mad about him. Then Layne fought back at him and he says he can just ride on his way. Then Chase walk away and Layne caught him back and ask if he try it again on his way and they continue on bull riding. Question: (Circle the best answer) 1) Chase teaches Layne __________. a. To drive a car. b. Ride a bull. 2) Layne’s style of holding a bull rope is ________. a. Killer wrap. b. Suicide wrap 3) Layne ride the bull and his got no _______. a. Rhythm. b. Hat. Chapter 7 Vocabulary Words: Blur Make or become unclear or less distinct. Grumping Act in a sulky, grumbling manner. Halfheartedly without enthusiasm or interest. Squawked Make a loud, harsh noise. Gleam Shine brightly, esp. with reflected light. Squealing Make such a cry or noise. Outburst A sudden release of strong emotion. Coast Act or make progress without making much effort. Growling Make a low guttural sound of hostility in the throat. Savages A member of a people regarded as primitive and uncivilized. Summary: Layne talks about the past few weeks of his bull riding practise and how he’s doing well. Layne’s mom has an announcement that their cousin Becky is getting married at July third which is the same date of the rodeo that Layne entered. Three days later Jana phoned him to go to the arena to get some practise but he must hurry because they don’t know if when Jana’s parents will be back. When Layne arrives at the arena the chute has already a bull and it was Rhino it’s time for their rematch at first Layne is excited about it but after a few seconds when he was on the back of Rhino he felt like he was afraid and shaky then right before Chase open the Chute Jana stop them because Jana’s parents arrive then Chase bring Rhino back to his coral with other bulls Chase said the Layne can Just try it next time. Question: (True of False) 1) Layne is doing well on his bull riding practise. TF 2) Layne’s cousin Charley is getting married. TF 3) Layne and Rhino have their rematch. TF Chapter 8 Vocabulary Words: Dawned Come into existence. Reluctantly Unwilling and hesitant; disinclined Paced Walk at a steady and consistent speed, esp. back and forth and as an expression of ones anxiety or annoyance. Roared Make a loud, deep, prolonged sound. Sputtered Make a series of soft explosive sounds, typically when being heated or as a symptom of a fault. Groan Make a deep inarticulate sound in response to pain or despair. Pleasant Giving a sense of happy satisfaction or enjoyment. Eased Make (something unpleasant, painful, or intense) less serious or severe. Lurch An abrupt uncontrolled movement, esp. an unsteady tilt or roll. Struggle Make forceful or violent efforts to get free of restraint or constriction. Summary: July 3 is finally arrive Layne’s mom was about to leave and go to Edmonton for her niece wedding and before she leave she gave $50 for Layne to go to the rodeo. Layne was guilty not to tell her mom that he were going to ride a bull for the rodeo but he knows her mom is going to be really mad at her so he did not tell her mom. As Layne and Terror was about to leave Terror says that load Rambo to the trailer because she also entered for barrel racing at first Layne was mad at Terror because she don’t tell to their mom that she will enter the barrel race but after he thought about it he realized that he done the same thing so they load Rambo at the trailer but the trailer tire was flat. So they load him at the back of the track. When they were driving Layne was very careful not to take a sharp turn for Rambo then he noticed Rick Barker from his school that Rick and his friends were driving recklessly and above over the designated speed limit so Layne pull over and let them pass by but Rambo fell of the track and got hurt they call the vet to look at Rambo the vet says that Rambo should take bake home and give a plenty of rest. When they are home their mom called them Layne was so nervous that he will get in trouble for what happened if their mom’s will find out what to them so he lied that everything is fine and their mom told them that she will stay at Edmonton for the night because their aunt Bonnie says so. After their conversation Jana and Chase got into their house asking what happened to them and why they didn’t show up for the rodeo. Layne talks to Layne how sorry he was because all the effort of Chase of getting him ready for the rodeo is all waste but Chase laugh because he talks to the arena director and he owned him a favor that Layne’s ride is moved into tomorrow’s go-round and Layne becomes very Happy about it and he accept it. Question: (Fill in the blanks) 1) Layne’s mom goes to _____________ for her niece wedding. 2) Rambo fell of the truck and got ______. 3) Layne and Terror called the _________ to see how Rambo’s condition. Chapter 9 Vocabulary Words: Unwind Relax after a period of work or tension. Cursing Be afflicted with Eager Wanting to do or have something very much. Clenched Close into a tight ball, esp. when feeling extreme anger. Bronc Bronc riding, either saddle bronc or bareback bronc competition is a rodeo event that involves a rodeo participant riding on a horse (sometimes called a bronc or bronco), that attempts to throw or buck off the rider. Swerved Change or cause to change direction abruptly Wince Give a slight involuntary grimace or shrinking movement of the body out of or in anticipation of pain or distress. Freaked React or behave in a wild and irrational way, typically because of the effects of extreme emotion, mental illness, or drugs. Hauled Pull or drag with effort or force. Smearing Spread (a greasy, oily, or sticky substance) over something. Summary: Layne got to the rodeo ground he waits an hour before he could even find out which bull he drawn he got in the rodeo secretary Mrs. Henry and ask If he can find out which bull will he riding and paid his entry fee. And he got Rhino to be the bull to ride on there are 3 bull riders before him first one is Jason Thorne he was a good bull rider he finished his ride with 8 seconds and have 85 points, the second rider is Mark Greely he got fell off the bull he was riding really fast, third rider is Rusty Barnett and after the announcer called Rusty to start the ride Chase called Layne to get ready and get on the back on Rhino because his riding next. As Layne is sitting on the back of rhino he saw Rusty Barnett got hurt and he should have just let go of the bull but he can’t because Rusty is doing he suicide wrap he can’t get out his hand out of the rope so the clown on the arena distract the bull and help Rusty to get out. While Layne is Watching Rusty he remembered his dad because what happened to Rust it’s almost the same thing that happened to his dad. After Rusty`s ride Layne is next the announcer get the crowd to get calm for what they have seen about Rusty. Then while the announcer was introducing Layne Chase is yelling at him that to get off Rhino and he`s not going to ride but Layne ignore him and looked to the gate man and yelled Outside then the gate opened and Rhino has been unleashed to the chute he jump and spin left and right Layne manage to get still on Rhino but he fell down on the ground the Layne got back off to Rhino after the clowns got Rhino Layne saw his mother and they have a conversation then his mom forgive him for what he did and accept that Layne is a bull rider then his mom ugged him and the next thing he knew is there is Jana hugged him and give him a kiss then Terror was charging up for him he thought Terror will hug him too but instead Terror just punched him in the arm and says not bad and he looked over the fence to see Chase and he was just standing there and winked at Layne. THE END Question: (True or False) 1) Layne arrives to early at the arena. TF 2) Layne remember his dad while watching Rusty Barnett rid e. TF 3) Layne’s mom, Jana and Terror hugged him after his ride. TF Characters Layne McQueen Main Character of the story, Teen age boy who wants to follow the footsteps of his father Jeff McQueen to be a bull rider and join the rodeo and win the championship. Tara Terror McQueen Layne`s sister who help him to archive his goal. Jana Kelvin – Daughter of Jack Kelvin who owns the arena where Layne is always sneaking in to practice bull riding. Chase Kincaid – Jana`s grandfather and Trained Layne on Bull riding. Becky – Layne`s cousin. Bonnie – Layne`s aunt. Rick Barker – Layne`s classmate. Mr. Bowlen – Layne`s rugby Couch. Mrs. Henry – Rodeo secretary.