Lahore School of Economics

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The West and the Rest in the World Economy: The Next Transformation

As part of the Distinguished Economist Seminar Series, the Lahore School Economics Society (LSES) organized a seminar on February 26, 2015. The guest speaker was a renowned Indian economist Dr. Deepak Nayyar who talked about “The West and the Rest in the World Economy: The Next Transformation” based on his recent book ‘Catch Up: Developing Countries in the World Economy’. The seminar was chaired by the patron LSES, Dr. Waqar Wadho and was attended by distinguished professors and economists including Dr. Shahid Amjad Chaudhry (Rector, Lahore School of Economics), Dr. Rashid Amjad (Director the Graduate Institute of Development Studies (GIDS)), Dr. Azam Chaudhry (Dean, Department of Economics, Lahore School of Economics), Dr. Naved Hamid (Director, Center for Research in Economics and Business) and Dr. Irfan-ul-Haque (Special Advisor for Financing for Development, South Centre, Geneva), faculty members of Lahore School and a large number of both graduate and undergraduate students of Lahore School.


Dr. Deepak in his talk provided a comprehensive overview of the evolution of developing countries in the world economy, situated in a long term historical perspective, from the onset of the second millennium but with a focus on the second half of the twentieth century and the first decade of the twenty-first century. He highlighted the overwhelming significance of what are now developing countries in the world until 200 years ago to trace their decline and fall from 1820 to 1950. Dr. Deepak emphasized that there is no single formula for growth and different sets of policies seem to have worked well in different settings, but economies relying on market as driving force have minimized market failures and those relying on government as central have minimized government failures. Also, growth has often not been transformed into meaningful development that improves the wellbeing of people. However, he optimistically asserted that the beginnings of a shift in the balance of power in the world economy are discernible and developing countries can sustain this rise only if they can transform themselves into inclusive societies where economic growth, human development and social progress move in tandem.


The seminar was followed by a discussion session with the faculty and students which was moderated by Dr. Shahid Chaudhry himself. The seminar concluded with a brief speech by Dr. Shahid who welcomed the visit of such highly distinguished economists like Dr. Deepak Nayyar from India stating that such academic visits could provide opportunities for collaboration between India and Pakistan both in the academic and research front.
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posted by S A J Shirazi @ 2/28/2015 11:40:00 AM,

Perspicacia Case Competition

Lahore School of Economics MBA students won the LUMS Synergies 2015 Perspicacia Case Competition held on February 20-22, 2015.


Imran Sajjad (Sec B), Farhan Duraiz (Section B), Hamza Wasim (Section C), Saad Khalid (Section C) and Ameer Ismaiel (Section C) participated in the competition.

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posted by S A J Shirazi @ 2/27/2015 10:20:00 AM,

Regulatory framework that exists in the Pakistani power sector

Dr. Takuya Nakaizumi, Professor of Kanto-Gakuin University Japan and member of Commission of Administrative Evaluation Bureaus of Ministry of Internal Affair and Communication Japan presented a lecture to the students and faculty at the Center for Research in Economics and Business (CREB), Lahore School of Economics on February 24, 2015.


Dr. Nakaizumi is a JICA technical expert on Regulatory Reform and Regulatory Impact Analysis at the Economic Reforms Unit (ERU), Ministry of Finance Pakistan and his expertise is in the areas of Applied Game theory, especially Economics of Regulation and Industrial Organization and Contract Theory.
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posted by S A J Shirazi @ 2/25/2015 03:32:00 PM,

Re-igniting economic growth in Pakistan

As part of the Distinguished Economist Seminar Series, the Lahore School Economics Society (LSES) organized its first seminar on February 18, 2015. The guest speaker was a renowned Pakistani economist Dr. Rashid Amjad who talked about “Re-igniting economic growth in Pakistan”. The seminar was chaired by the patron LSES, Dr. Waqar Wadho and was attended by distinguished professors and economists including Dr. Shahid Amjad Chaudhry (Rector, Lahore School of Economics), Dr. Azam Chaudhry (Dean, Department of Economics, Lahore School of Economics), Dr. Sohail Zafar, (Dean, Department of Business Administration), Dr. Naved Hamid (Director, Center for Research in Economics and Business) and Dr. Irfan-ul-Haque (Special Advisor for Financing for Development, South Centre, Geneva), Dr. Shakil Faruqi (Professor, Lahore School of Economics), faculty members of Lahore School and a large number of both graduate and undergraduate students of Lahore School.


Given his expertise on the management of Pakistan economy, Dr Rashid focused this seminar on the issue of economic growth in Pakistan. He started off the analysis by providing a very comprehensive overview of the performance of Pakistan economy in the past decades and highlighted the need to focus on the ‘binding constraints’ that hamper growth. He argued that foreign exchange has been a binding constraint for decades. In recent years, due to inadequate focus on energy, today, the most important constraint that the Pakistan economy faces is the energy shortage and therefore, the government should target this as its highest priority. He suggested that the falling oil prices present a window of opportunity which should be exploited to alleviate the existing constraints. In his concluding remarks, Dr. Rashid advised the young economics students to focus on the underlying theory and fundamentals of economic policy-making along with thinking out-of-the-box so that more creative yet pragmatic solutions to the existing economic problems can be suggested.


The seminar was followed by a discussion session with students where students posed their questions and opinions. Overall the seminar proved to be an engaging event whereby both the students and leading economists got an opportunity to interact and discuss the current economic issues of Pakistan. The LSES aims to continue with its seminar series and hopes to further invite economists both from within and outside Pakistan to enlighten young minds with their experience. The next seminar is scheduled on February 26, 2015 where the guest speaker is Dr. Deepak Nayyar (Professor Emeritus, JNU New Delhi and former Vice-Chancellor Delhi University).
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posted by S A J Shirazi @ 2/24/2015 12:41:00 PM,

Advertisement and Digital Media

The Marketing Society of the Lahore School invited Mr. Adeel Hashmi and Mr. Daud Randle to talk to the students about Advertisement and Digital Media on 13 February 2015. A large number of students both MBA and undergraduates welcomed the guests and listened to them with attention.


Adeel Hashmi, a famous Pakistani television actor, social worker, producer and screen writer, and brand ambassador for Ufone, spoke for about 70 minutes and won over the audience with his natural style of speaking and his sparkling wit and sense of humor. He advised the audience to also be mindful about the negative aspects of advertising as some ads promoted wasteful expenditure. He also urged the students not to allow their egos expand too much and gave examples of world class talented people who carried on with their lives in a modest manner.
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posted by S A J Shirazi @ 2/21/2015 02:47:00 PM,

Digital Marketing

Mr. Badar Khushnood, “Entrepreneur in Residence” of BRAMERZ, previously of Google, alumnus of the Lahore School, along with his team Haris and Tamkinat, delivered two outstanding sessions on DIGITAL MARKETING at the Lahore School of February 18-19, 2015 in the Marketing Strategy course of the MBA program.


Badar, who has worked for Google, Nishat Mills, SMEDA and even for Ali Baba, and is one of the most experienced and successful Digital Marketer in the country, was welcomed at the Lahore School – his alma mater, with open arms. The presentations, and the sessions of questions and answers, were both handled by the three-member team jointly.
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posted by S A J Shirazi @ 2/20/2015 04:50:00 PM,

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