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.

About the speaker:

Dr. Deepak Nayyar is Emeritus Professor of Economics at Jawaharlal Nehru University, New Delhi. He was Distinguished University Professor of Economics at the New School for Social Research, New York. Earlier he has taught economics at the University of Oxford, the University of Sussex, and the Indian Institute of Management, Calcutta and was Vice-Chancellor of the University of Delhi from 2000 to 2005. He is also an Honorary Fellow of Balliol College, Oxford. He is a Distinguished Fellow of the Centre for the Study of Developing Societies, Delhi. And he is a Distinguished Professor at the Council for Social Development, New Delhi. He is Chairman of the Sameeksha Trust, which publishes Economic and Political Weekly. He has received the VKRV Rao award for his contribution to research in Economics and has been President of the Indian Economic Association. He is also on the Editorial Board of several professional journals.

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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.

During the lecture, Dr. Nakaizumi explained the regulatory framework that exists in the Pakistani power sector as well as discussing the role of Regulatory Impact Analyses and the Economics of Regulation in developing countries.

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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).

About the speaker:

Dr Rashid Amjad is a Professor of Economics and Director at the Graduate Institute of Development Studies (GIDS). Before joining the GIDS, Dr Rashid served as the Vice Chancellor of the Pakistan Institute of Development Economics (PIDE). He has also served at important positions in the government including Chief Economist (Additional Charge) / Member, Planning Commission of Pakistan. He has served at senior levels at International Labour Organisation (ILO) including the Director, Policy Planning, Employment Sector and Employment Strategy Department, Chief, World Employment Report Team, Director Multidisciplinary Support Team for South-East Asia and the Pacific (SEAPAT). Dr Rashid has numerous publications in both local and international journals as well as several books to his credit with his latest book titled “Pakistan - Moving the Economy Forward” published in 2013.

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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.

Daud Randle, an LSE graduate, and a Managing Partner at B&H Fiberglass, spoke after Adeel and explained what Digital Marketing was and how it worked.

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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.

He proudly shared with the MBA students his current work with some of the leading brands of Pakistan. Digital Marketing was growing at a fast pace, and he urged the MBAs to start thinking of a career in this area.

Badar, and his team, argued that digital marketing was a better bet than “non-digital” marketing in many ways as the former was more cost effective, more likely to increase sales, was more targeted without interrupting people’s lives (largely because it was targeting consumers who were already interested), was more amenable to measurement (marketing’s perennial problem), reached the whole universe of data as opposed to reaching a sample with its counterpart, and was more flexible in terms of operations (compared to shooting an ad in Bangkok, digital marketing could update an AD ten times in a day).

How did Digital Marketing work? The team showed to both classes how one must first listen to one’s audience (“grab” conversations), then research and monitor local events, and finally think of ways to engage with your audience so that they will come to you..

Team Bramerz then shared their major success story of Domino’s with the two classes, as to how Digital Marketing helped the chain increase their sales in Pakistan from a point in time when there was negligible social media marketing, no measurable data and little community management to the strength they now enjoy. Badar also explained how Google acted as a trader between the publisher and the advertizer.

In response to questions, Badar explained that the best way to convince old style CEOs to shift to Digital Marketing was to show them the eventual “death” of the business. He believed many companies were “over advertising” as they had to use up the budget lest they were allocated lesser budget next year.

Dr. Aamir Khan of the Lahore School thanked Mr. Badar Khushnood on behalf of the Lahore School and hoped that the latter would keep returning to his alma mater to engage and teach its students.

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posted by S A J Shirazi @ 2/20/2015 04:50:00 PM,

Lahore School of Economics Annual Conferences 2015

Lahore School of Economics hosts one international conference each year on the Management of the Pakistan Economy and four national conferences on Managing Business in Pakistan, Social Sciences, Mathematics and Statistics and Environmental Science and Policies.
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posted by S A J Shirazi @ 2/14/2015 08:30:00 AM,

Lahore School attends second NBEAC Deans and Directors Conference 2015

A five member delegation of Lahore School of Economics led by Dr. Shahid Amjad Chaudhry attended the second NBEAC (HEC) Deans and Directors Conference 2015 in Karachi from 9-12 February. The Conference, held at three venues, and attended by some 100 plus Pakistani business schools, was convened by NBEAC-HEC.

The Conference, titled “Building Bridges and Fostering Collaborations in Business Education”, held multiple sessions, including “Academia and Corporate Linkages”, “Experience of International Linkages”, “Developing Entrepreneurship”, “Strategic Planning for Business Schools”, “Promoting Research Collaborations and Commercialization” and “Promoting CSR”. The format included speeches by keynote speakers and panelists, and questions and enthusiastic discussions by the participants.

The highlight of the Conference was the inaugural remarks by Chairman HEC Dr. Mukhtar Ahmed, who reiterated his commitment to the cause of business education in Pakistan. Keynote speakers included Director IBA Dr. Ishrat Hussain, Chairman NBEAC Dr. Hasan Sohaib Murad, Vice Chairman NBEAC Dr. Muhammad Nishat, and many other luminaries.

The Conference discussed at length some key issues regarding promoting collaboration between the various business schools of Pakistan, e.g. teaching at one another’s institution, helping one another with research programs and sharing best practices so that schools deficient in some areas could benefit from others. So that there is continuity, it was decided that the next conference would review progress on the points agreed this time.

Dr. Shahid Amjad Chaudhry, the Rector Lahore School of Economics was a keynote speaker at the Conference. In his address he congratulated HEC and NBEAC for organizing this conference. He elaborated on the achievements of the Lahore School which were in line with the agenda items of the Conference. He pointed out that the model of the Lahore School leveraged the School’s expertise in both economics and business. He listed some key research projects undertaken by the Lahore School, such as its work on Sialkot Soccer Ball industry, led by Dr. Azam Chaudhry and Shamyla Chaudry; Incentivization Attendance in Production Teams, led by Dr. Theresa Chaudhry; Incentivizing Development; and Understanding and Addressing Rural Povery in Pakistan. These projects, he noted, were good examples of industry linkages with business schools. Dr. Shahid emphasized that industry would only value business schools if the former saw value added by the later.

As further example of these linkages, Dr. Shahid Amjad informed the audience that the School invited around 50 industry and business experts to Lahore School in 2014 alone to address its MBA and undergraduate students so that industry knowledge was shared by the students as well. Last year, these speakers included CEO of, Sales Head of Nestle, Director Operations of Metro, HR Heads of Hubpower, Metro and HBL, and Head Supply Chain of PepsiCo. Then, he gave examples of research projects by Lahore School students which included examination of problems faced by Nestle, Coca-Cola, Zong, Metro and many other companies in Pakistan. He informed the audience that the Lahore School had 20 Professors, 12 Associate Professors and 98 Assistant Professors/Lecturers as full time faculty and 58 part time faculty.

The delegation comprised Dr. Shahid Amjad Chaudhry, Professor F A Fareedy, Dr. Aamir Khan, Dr. Kumail Rizvi and Dr. Nawazish Mirza.

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posted by S A J Shirazi @ 2/13/2015 11:11:00 AM,

Lahore School wins all HR Confluence competition

Lahore School of Economics won all the top positions in three competitions at the Lahore University of Management Sciences HR Confluence held on February 7-8th, 2015.

The event aimed to bring together the corporate community and the upcoming generation of managers/leaders and the major theme of the overall competition was the Strategic Role of HR in Adapting Change within Organizations. There were three flagship competitions - HR MASTERS Case Study Competition, Simulations and HARVARD EVEREST Leadership and Team Work Competition - followed by the Panel Discussion, Workshops, Networking Lunch and Social events.

Universities from all across Pakistan including Bahauddin Zakariya University, ISP, Superior College, AIR University, Government College University and Lahore College for Women University Lahore University of Management Sciences participated.

Two teams of Lahore School of Eonomics' MBA-II students “Team Levant” and “Team Infinity” won HR MASTERS Case Study Competition as a result of a tie between them.

posted by S A J Shirazi @ 2/13/2015 11:09:00 AM,

Interview Process

Mr. Adeel Anwar, Recruitment Specialist- Tetrapak delivered a lecture to the graduating students of The Lahore School of Economics on January 30, 2015.

Mr. Adeel Ahmed focused his presentation on understanding of the interview process and steps that a multinational is likely to follow during the process including a functional interview (related to the job), Human Resource interview, Competency based interview (CBI) and an assessment.

He advised the students to explain their history to the interviewers, in order to provide them an insight to their respective backgrounds. He encouraged them to move away from bookish knowledge and instead share personal experiences to attract the attention of the interviewers and to share personal experiences where they faced a certain challenge and then later were able to overcome that particular challenge. This would not only help develop an interest for the interviewers but also highlight certain strengths of the interviewee.

Later, Mr. Adeel invited an Lahore School graduate, who is currently working for Tetrapak for the past one year, to relate her experience to the students.


posted by S A J Shirazi @ 2/13/2015 11:08:00 AM,

Counseling Session

Lahore School counseling session for the graduating BBA class was held on February 3, 2015. Mr. Adeel Anwar, Director Organizational Excellence at Warid Telecom was the distinguished guest.

Mr. Anwar shed light on the pre-requisites for corporate careers and explained the significance of having “soft kills” like integrity, fair mindedness, a persuasive congenial personality, ability to cope with conflicting point of views, functioning under pressure and demonstrating discretion in order to pursue a great career. He emphasized the importance of acquiring “hard skills” such as computer proficiency, high impact written and oral communication skills, analytical skills and principles of business.
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posted by S A J Shirazi @ 2/13/2015 11:08:00 AM,

Advanced Operations Management

Mr. Monis Rahman, CEO- and a regular speaker at the Lahore School, visited our campus on February 9, 2015 to share his views MBA class of “Advanced Operations Management” class. During his lecture, he covered variety of related topics in the light of his own rich experience. Students asked interesting questions about back end operation.


posted by S A J Shirazi @ 2/10/2015 12:02:00 PM,

Mathematical and Statistical Models in Economics, Finance and Applied Sciences: Analysis and Methods Concludes

The First Lahore School Annual Conference on Mathematical and Statistical Models in Economics, Finance and Applied Sciences concluded on February 7, 2015. Earlier, the second day resumed with session on Applied Statistical Analysis. Dr. Sohail Chand from University of the Punjab and Dr. Syeda Rabab Mudakar from Lahore school of Economics presented interesting papers. Dr. Saleha Naghmi Habibulla, Director Research from Kinnaird College, chaired this session.

Dr. Azam Chaudhry, Dean, Faculty of Economics Lahore School Economics chaired the second session which focused on Analysis of Health Issues in Pakistan. The speakers for this session included Saeeda Batool from National University of Science and Technology, Sara Ahmed and Meera Shafqat from Lahore School of Economics. Dr. Azam concluded the session with interesting discussion and suggestions for speakers. This was followed by tea break in which all the participants enjoyed tea and discussed their ongoing research in their relevant universities.
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posted by S A J Shirazi @ 2/07/2015 02:48:00 PM,

Mathematical and Statistical Models in Economics, Finance and Applied Sciences: Analysis and Methods

The First Annual Conference on Mathematical and Statistical Models in Economics, Finance and Applied Sciences started on Friday February 6, 2015 at the Main Campus of Lahore School of Economics. 

The conference provided an opportunity for eminent Mathematicians, Physicists, Statisticians, Economists and Social Scientists from all over the country to come together and learn from each other. The conference was inaugurated by Dr. Shahid Amjad Chaudhry, Rector of the Lahore School of Economics and Dr. Rana Abdul Wajid, Director, Centre of Mathematics and Statistical Sciences, Lahore School of Economics who warmly welcomed all the guests and faculty members from institutions across the country. Dr. Shahid Amjad Chaudhry explained the critical objective of providing a platform for all likeminded academics from all over Pakistan to join together in research collaborations while Dr. Azam Chaudhry, Dean of Faculty of Economics, Lahore School of Economics delivered the keynote address on “The Role of Mathematics and Statistical Sciences in Social Sciences”.
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posted by S A J Shirazi @ 2/06/2015 05:07:00 PM,

Lahore School of Economics launch of a Visiting Scholar Program with the School of Interdisciplinary Area Studies at Oxford University

In January 2015, the Lahore School of Economics launched a Visiting Scholar Program with the School of Interdisciplinary Area Studies (SIAS) at Oxford University - the Oxford-Lahore School ILM Program. The first batch of four Lahore School students from the PhD Economics program are currently registered for the Lent term and are attending lectures and seminars as well as interacting with faculty from both SIAS and the Department of Economics at Oxford to discuss their dissertation research.

The students are being hosted by Professor Matthew McCartney (Director, South Asian Studies) at Oxford University. Professor McCartney inaugurated the ILM Program along with Dr. Azam Chaudhry (Dean, Department of Economics, Lahore School of Economics) and welcomed the four scholars: Rabia Arif, Maryiam Haroon, Zunia Tirmazee and Nida Jamil. The scholars also met with Hermoine Lee (President of Wolfson College, Oxford University) to discuss areas of further collaboration between Oxford University and the Lahore School of Economics.
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posted by S A J Shirazi @ 2/02/2015 01:43:00 PM,

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Lahore, Pakistan.

Phones: 92-42-35714936, 38474385

Fax: 92-42-36560905

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Lahore, Pakistan.

Phones: 36560935, 36560939

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