Bachelor of Science (BS) Economics and Mathematics

About the Program:

BS Economics and Mathematics is a 4-year degree program that contains fundamental components of two fields of study: Economics and Mathematics. The program prepares the students for entry-level positions in private and public sectors, development organizations, banks, insurance companies, investment companies, education sector, and research organizations. The wide range of courses offered in this program give students several opportunities to broaden their knowledge and expand their horizons. The research project in the final year enables students to apply the quantitative tools learnt in the program to economic and financial problems in the public and private sectors.

Curriculum Structure
Duration 4 years
Semesters 8
Courses 40
Final Year Project in Economics or Mathematics 1
Total credit hours (40 courses and 1 project) 128
Personal Effectiveness (non-credit short course) 1
Responsible Citizen Initiative (Social Internship) 1
Corporate Internship 1

Course Categories and Credit Hours

Course category Courses Credit hours
University core courses 4 12
Economics core courses 11 35
Economics electives 2 6
Mathematics core courses 11 35
Mathematics electives 2 6
Non-specialization courses (6 core and 4 electives) 10 30
Final Year Project Economics or Mathematics 1 4
Total 41 128

Semester-wise sequence of courses

Freshman Semester 1 Course code Credit hours Pre-requisite Course category
1 Principles of Microeconomics ECO103 3 - Economics core
2 Calculus I MTS101 3 - Mathematics core
3 Introduction to Statistics MTS102 3 - Non-specialization core
4 Critical Reading and Writing SSC101 3 - University core
5 Islamic Scholarly Traditions (IST)/ Philosophy, Logic and Ethics (PLE)* SSC301/HUM357 3 - University core
  Semester 2 Course code Credit hours Pre-requisite Course category
1 Principles of Macroeconomics ECO104 3 - Economics core
2 Calculus II MTS113 3 MTS101 Mathematics core
3 Statistical Inference MTS202 3 MTS102 Non-specialization core
4 Speech Communication HUM201 3 - University core
5 Pakistan History SSC151 3 - University core
Sophomore Semester 3 Course code Credit hours Pre-requisite Course category
1 Intermediate Microeconomics ECO201 3 ECO103 Economics core
2 Intermediate Macroeconomics ECO202 3 ECO104 Economics core
3 Discrete Mathematics MTS211 3 - Mathematics core
4 Multivariable Calculus MTS242 4 MTS113 Mathematics core
5 Essential Software MTS111 3 - Non-specialization core
  Semester 4 Course code Credit hours Pre-requisite Course category
1 Microeconomic Theory ECO312 3 ECO201 Economics core
2 Macroeconomic Theory ECO313 3 ECO202 Economics core
3 Linear Algebra MTS203 3 MTS101 Mathematics core
4 Probability Theory MTS231 3 MTS102 Non-specialization core
5 Foundations to Data Science CSE306 3 - Non-specialization core
Junior Semester 5 Course code Credit hours Pre-requisite Course category
1 Applied Econometrics I ECO343 4 MTS202 Economics core
2 Introduction to Differential Equations MTS241 3 MTS101 Mathematics core
3 Real Analysis I MTS341 4 MTS113 Mathematics core
4 Introduction to Academic Writing SSC236 3 - Non-specialization core
5 Non-specialization elective I - 3 - Non-specialization elective
  Semester 6 Course code Credit hours Pre-requisite Course category
1 Applied Econometrics II ECO344 4 ECO343 Economics core
2 Research Methods for Economics ECO411 3 ECO343 Economics core
3 Stochastic Processes MTS304 3 MTS231 Mathematics core
4 Optimization Techniques MTS330 3 MTS101/MTS203 Mathematics core
5 Non-specialization elective II - 3 - Non-specialization elective
6 Personal Effectiveness ** SSC240 -   Core
Senior Semester 7 Course code Credit hours Pre-requisite Course category
1 Development Economics ECO301 3 ECO104 Economics core
2 Partial Differential Equations MTS436 3 MTS241 Mathematics core
3 Economics elective I ECO 3 - Economics elective
4 Mathematics elective I MTS 3 - Mathematics elective
5 Non-specialization elective III - 3 - Non-specialization elective
6 Final Year Economics Project or Final Year Mathematics Project*** ECO441/MTS471 4 - Project
  Semester 8 Course code Credit hours Pre-requisite Course category
1 International Trade or International Economics ECO466/ECO305 3 ECO103, ECO104 Economics core
2 Probability and Statistical Models MTS430 3 MTS231 Mathematics core
3 Economics elective II ECO 3   Economics elective
4 Mathematics elective II MTS 3   Mathematics elective
5 Non-specialization elective IV - 3   Non-specialization elective

*All Muslim students are required to register for IST. Non-Muslim students may take either IST or PLE.

**Personal Effectiveness will be offered in either the 5th or 6th semester. This is a non-credit course and is a part of graduation requirement. It consists of five 2-hour workshops distributed over the whole semester.

*** Students can take either Final Year Project in Economics (ECO441) or Final Year Project in Mathematics (MTS471).

Note:

Students should complete their Responsible Citizen Initiative (Social Internship) after completing their 2nd semester at IBA and must fulfill this graduation requirement before the end of their 6th semester.

Students should engage in their corporate internship after completing their 6th semester of the coursework, preferably during the summer break.

Critical Reading and Writing is equivalent to English, Grammar and Composition

Islamic Scholarly Traditions is equivalent to Socio Economic Philosophy of Islam

Economics elective courses (2 courses to be selected)

Course title Course code Credit hours Pre requisite
Major Issues in Pakistan’s Economy ECO403 3 ECO203
History of Economic Thought ECO467 3 ECO104
Contemporary Issues in Global Economics ECO404 3 EOC104
Public Economics ECO401 3 ECO201
Machine Learning for Economists ECO405 3 MTS111
Public Finance ECO451 3 ECO104
Monetary Economics ECO452 3 ECO202
Time Series Econometrics ECO457 3 ECO343
Climate Change Economics ECO458 3 ECO103
International Finance ECO459 3 ECO104
Environmental Economics ECO450 3 ECO201
Natural Recourse and Environmental economics ECO461 3 ECO201
Game Theory ECO464 3 ECO201
Health Economics ECO471 3 ECO201
Labour Economics ECO472 3 ECO201
Energy Economics ECO463 3 -
Energy Systems & Policy ECO474 3 -
Behavioral Economics ECO470 3 ECO103
Modern Quantitative Methods ECO473 3 ECO344

Mathematics elective courses (2 courses to be selected)

Course title Course code Credit hours Pre requisite
Complex Analysis MTS302 3 MTS341
Abstract Algebra I MTS305 3 MTS203
Numerical Analysis MTS306 3 MTS113
Functional Analysis I MTS411 3 MTS341
Functional Analysis II MTS412 3 MTS411
Abstract Algebra II MTS413 3 MTS305
Numerical Solutions of PDE MTS431 3 MTS414
Integral Equations MTS432 3 MTS303
Advanced Numerical Analysis I MTS433 3 MTS414
Advanced Numerical Analysis II MTS434 3 MTS433
Differential Geometry MTS435 3 MTS204, MTS203
Fluid Dynamics I MTS437 3 -
Fluid Dynamics II MTS438 3 -
Financial Mathematics with a computational approach MTS441 3 -
Computational Finance MTS442 3 -
Topology I MTS451 3 MTS341
Scientific Computing for Linear PDE’s MTS414 3 MTS413
Modern Algebra I (Galois Theory and Application) MTS443 3 MTS413
Modern Algebra II (Commutative Rings and Fields) MTS444 3 MTS413
Measure Theory I MTS445 3 -
Measure Theory II MTS446 3 -
Operations Research I MTS447 3 -
Operations Research II MTS448 3 -
Introduction to Differential Topology MTS452 3 MTS451
Financial Engineering MTS453 3 MTS441

Non-specialization electives courses

Four courses are to be chosen from courses other than Economics and Mathematics. These non-specialization elective courses may be from different subject areas including Accounting, Finance, Marketing, Management, Social Sciences and Liberal Arts, Computer Sciences, or any other field.