BS Economics with Data Science (BS EDS)


Introduction to the Programme

The Science of Economics today is in a crisis. This is because mainstream economics, as it has been taught over the last century, has failed to adequately address so far some of the principal challenges faced by the human community at the global and national levels: recurrent economic crises, growing inequality, widespread violence and the environmental crisis that has placed our planet in peril. As Thomas Kuhn has pointed out, science progresses through paradigm changes. When new questions emerge, which the prevailing paradigm is unable to investigate, and then a new paradigm emerges. This is why the leading universities in the world are engaged in rethinking economics, crossing its conventional boundaries and bringing teachers and students together in the great endeavor of developing a new paradigm for the subject.

In this historic juncture, the aim of an undergraduate programme in Economics should be to combine rigorous training in mainstream economics with data science together with exposure to a wide range of fields in the Social Sciences and Humanities. Through such multidisciplinary training around hardcore economics, the students can be stimulated to form connections across subjects in addressing the central challenges that impact society, economy and polity. Students of economics can thereby participate in the exciting venture of transforming the economics paradigm and help build a better future for the human community.

The undergraduate programme in economics with data science has been designed with this aim in view. Rigorous training is provided in economics through courses such as Macroeconomics, Microeconomics, Mathematics, Econometrics, International Trade and Finance. Emerging fields in economics are also included in the programme. For example, the New Political Economy, Sustainable Development, Evidence Based design of Policy for Urban and Rural Development. A key dimension in the economics programme is Data Science which has two components: (i) Big Data Techniques and (ii) Machine Learning. This relatively new field is becoming increasingly important in the design of projects and policies. This corpus of courses in economics and data science is combined with courses in the fields of Philosophy, Politics and Literature.

It is hoped that systematic training in economics and data science, combined with a broad understanding of Social Sciences and Humanities, will equip students to contribute to research and policy thinking. They will thus be able to participate in the process of developing a new paradigm in economics and building a better world.


  • Eligibility Criteria
  • Application Process
  • Duration of the degree
  • Cost of degree
  • Semester-wise Road Map
  • Scholarships
MINIMUM ELIGIBILITY CRITERIA
  • Scored 60% marks or above in Matric
  • Successfully appeared in eight O-Levels subjects
  • Scored 60% marks or above in Intermediate. Preference will be given to students with a background in Mathematics
  • The average of 3 A’Level grades must not be less than a *C
  • Scored at least 30 out of 45 points in International Baccalaureate
  • Scored 80% or above or maintained a GPA of B or above in American High School Diploma
  • Score at least 50% on the ITU admissions test

The procedure for admission is as follows:

  1. The opening of the admissions cycle shall be announced by ITU. This announcement will be made available on the ITU website and through print and electronic media, including Urdu and English newspapers, Facebook, Twitter etc.
  2. Interested students will register through submitting application form available online. Eligible applicants would be invited for the admission test.
  3. Shortlisted candidates shall be called in for interviews.
  4. Admission decisions will be dispatched.
SELECTION CRITERIA

Admission to ITU is based on the below-mentioned application components. The weightage of each component in the overall decision is also given.

  • Academic Background: 40%
  • Admission Test: 40%
  • Interview & Assessment: 20%

Note: only candidates who submit a complete application form will be considered for admission.

ANNOUNCEMENT OF SELECTED CANDIDATES

Selected candidates will be informed of admission decisions through Merit List, SMS and email. The Merit List will be available on the ITU website.

CONFIRMATION OF ADMISSION

All admissions will be provisional, and shall be confirmed after receiving proof of academic requirements. If a selected applicant fails in the Intermediate (or equivalent examination), their admission shall immediately stand cancelled.

CANCELLATION OF ADMISSION

ITU reserves the right to cancel the admission of students involved in any undesirable or illegal activity. ITU also reserves the right to cancel admission of a student at any time if the student is found to have submitted false information/documents.

The degree must be completed in 4 years with a minimum of 130 credit hours earned.
  • Per credit cost = 5,000
  • Total credit cost for degree = 5,000 * 130 = 650,000
  • University charges per semester = 24,000
  • Total University charges for degree = 24,000 * 8 = 192,000
  • Total cost of degree = PKR 842,000
  • Cost for first year = PKR 183,000
Semester I
SN Course Title Credits Type of Course
1 Principles of Macroeconomics 3 C
2 Principles of Microeconomics 3 C
3 Pakistan Studies 1.5 M
4 English/Communication Skills I: Reason, Argument and Analysis 3 M
5 Calculus I 3 C
Total Credits: 13.5
Notes:

C = Core course 9 credit

M = Mandatory course 4.5 credit

E = elective

C* = an elective that counts towards the core’s requirements

Semester II
SN Course Title Credits Type of Course
1 Quantitative Methods (Mathematics) 3 C
2 Intermediate Macroeconomics 3 C
3 Intermediate Microeconomics 3 C
4 Islamic Studies 1.5 M
  5 English/Communication Skills II 3 M
       
Total Credits: 13.5
Notes:

C = Core course 18 credit

M = Mandatory course 9 credit

E = elective

C* = an elective that counts towards the core’s requirements

Semester III
SN Course Title Credits Type of Course
1 Introduction to Politics 3 E
2 Political Economy I 3 C*
3 Quantitative Methods (Statistics) 3 C
4 Introduction to Philosophy 3 E
5 International Trade 3 C
Total Credits: 15
Notes:

C = Core course 27 credit

M = Mandatory course 9 credit

E = elective 6 credit

C* = an elective that counts towards the core’s requirements

Semester IV
SN Course Title Credits Type of Course
1 Econometrics I 3 C
2 Political Economy II or Behavioural Economics 3 C
3 Financial Economics 3 C
4 Journalism or Arts & Culture 3 E
5 Database 1 3 C
Total Credits: 15
Notes:

C = Core course 39 credit

M = Mandatory course 9 credit

E = elective 9 credit

C* = an elective that counts towards the core’s requirements

Semester V
SN Course Title Credits Type of Course
1 Islam and West in Historical Perspective 3 E
2 Development of World Economy 3 C*
3 Econometrics II 3 C
4 Data Analysis I: Data mining 3 C
5 Financial Institutions: Multilateral and National 3 C*
Total Credits: 15
Notes:

C = Core course 51 credit

M = Mandatory course 9 credit

E = elective 12 credit

C* = an elective that counts towards the core’s requirements

Semester VI
SN Course Title Credits Type of Course
1 Health Economics or Organizational Economics 3 C
2 Advanced Macroeconomics 3 C
3 Advanced Microeconomics 3 C
4 Econometrics III: Time Series 3 C
5 Research Methods 3 C
6 Data Analysis for Social Scientists 3 C
Total Credits: 18
Notes:

C = Core course 69 credit

M = Mandatory course 9 credit

E = elective 12 credit

C* = an elective that counts towards the core’s requirements

Semester VII
SN Course Title Credits Type of Course
1 Climatic Change and Sustainable Development 3 C*
2 Challenges in Development and Development Policy 3 C*
3 Algorithm Design and Analytics 3 C*
4 Agricultural Development: Institutions, Markets, and Technology 3 C
5 Data Analysis II: Machine Learning 3 C
Total Credits: 15
Notes:

C = Core course 84 credit

M = Mandatory course 9 credit

E = elective 12 credit

C* = an elective that counts towards the core’s requirements

Semester VIII
SN Course Title Credits Type of Course
1 Freedom and Justice 3 E
2 Economics of Development 3 C
3 International Politics 3 E
4 Introduction to Urdu Drama 3 E
5 Cloud Implementation 3 C
Total Credits: 15
Notes:

C = Core course 90 credit

M = Mandatory course 9 credit

E = elective 21 credit

C* = an elective that counts towards the core’s requirements

SN Course Title Credits Type of Course
1 Thesis 6 Mandated by the HEC
2 Internship 3 Mandated by the HEC
3 Volunteer Work/Community Service 1 Mandated by the HEC

 

Total number of credits including all the courses: 130

ITU believes in supporting and nurturing academic excellence and so far, no student has been held back from attending ITU for financial reasons. Generous merit and need based scholarships are available.

Need Based Scholarships


These scholarships are available from the Punjab Educational Endowment Fund (PEEF) for both graduate and undergraduate programs. Among the collective MS and BS batch admitted at ITU last year, 100 students were PEEF scholars. In the coming academic year, we shall be inducting another 100 PEEF scholars; 76 at the undergraduate level and 24 at the graduate level.

At the undergraduate level, the PEEF eligibility criterion is as follows:

Candidates need to:

  1. Have passed Intermediate examinations held by the Board of Intermediate and Secondary Education (BISE) Punjab or the Federal Board of Intermediate and Secondary Education (FBISE), Islamabad in 2016.
  2. Be students of a Federal Government Institution situated within the geographical boundaries of Punjab.
  3. Secure at least 60% marks in their Intermediate examinations.
  4. Secure admission at ITU.
  5. Have a declared monthly household income less than or equal to Rs. 30,000/-
  6. Not be availing any other educational scholarship during the course of studies conducted under the PEEF scholarship.
Merit Based Scholarships:
For Undergraduate Programs

These scholarships are generously awarded in the following denominations:

  • 100% of semester tuition fee
  • 75% of semester tuition fee
  • 50% of semester tuition fee

Upon admission, a student’s academic merit is reviewed and if (and as) applicable, a scholarship of one of the three denomination is awarded for the first semester. Thereafter, this merit scholarship is tied to a student’s academic performance at ITU and shall be reviewed every semester. Students with a GPA of:

  • 3.8 – 4.0 will be awarded a 100% scholarship for the following semester
  • 3.65 – 3.79 will be awarded a 75% scholarship for the following semester
  • 3.5 – 3.64 will be awarded a 50% scholarship for the following semester

Merit scholarships of students unable to achieve a GPA of at least 2.8 shall be rescinded.

Financial Aid:

Need based financial assistance is also available for the ITU students as per the Financial Aid Policy, 2016