Latest News

An interesting post on “Why does Aggregate Demand Collapse?” by Dr. Asad Zaman. you can read it by clicking on the title.

10th Feb, 2014

“Introduction to Statistics Course”: Important Announcement

1. Today class has been started. First listen Lecture 1, when you think you have absorbed all material, then go to and login as student, and start Quiz.

2. Quiz 1 has been opened and it will remain open till Wednesday 12 Feb,2014. So please try to finish it till wednesday, after that you will not be able to attempt the Quiz.
Once you start the Quiz, make sure to complete it, befor leaving.

3. For each lecture except lecture 1, there will be one comprehension Quiz and one Lab Quiz for each Quiz 3 days will be given.

4. For getting updates regarding lectures, quizzes, classes, please register the blog, once you registered the blog, you will directly get announcement.



5th Feb, 2014: Free Online Course on “Introduction to Statistics for Muslims”

Dear members, we are happily announcing that WEA Pakistan Chapter is offering “Introduction to Statistics course for Muslims” in coordination with Pakistan Institute of Development Economics (PIDE) Islamabad. This course will be instructed by Dr. Asad Zaman Vice Chancellor PIDE, and i (Uzma Bashir Awan) am assisting him in this course.  It is a unique course which is based on an Islāmic pedagogical style, and shows how the Islāmic approach to knowledge differs radically from the western one. This radical difference also affects the contents of the subject in serious ways.

Course will be started from February 10th, 2014. and there will be One LIVE class on Wednesdays 9:00am to 10:30am in Junior Commons Room at PIDE. Students at PIDE will be required to attend. YDF from Planning Commission taking the course are welcome to attend. This class will also be available via LIVESTREAMING — those who cannot watch the livestream will get the chance to view this offline, as movie will be made available.All other portions of the course will be delivered online.  We will put links for livestreaming on blog. Blog is open access, and should be available to anyone.

and Blog link is
Registering to follow blog is the way to become student of course – the other place is quizstar, which you must register to take quizzes.
these links are also available at
Although this course only covers basic concepts, it does so in a new way, so that even people with advanced training in statistics will find many of the ideas to be very new, and different from what they have been taught. The basic course materials are organized on the following website:

This course will be organized on the style of an “inverted classroom”. This means that lectures will be viewed by students outside class, and discussions will be held in the classroom. The live-stream sessions will NOT be organized lectures; rather they will be general discussions where the instructor (Dr. Asad Zaman) will focus on asking questions designed to assess student comprehension of the materials they are supposed to have studied outside of class. If we find any important gaps, we will provide additional taped lectures (to be viewed outside class) to supplement the existing lectures.

The format and structure of this class will be new experience for nearly all the students. ORDINARILY, students expect that if they attend class and follow & understand the lectures, this would provide about 75% of the work needed to pass the course. In this class, the once weekly live class will cover only 10-20%. More than 80% of the work will be done by students on their own outside of class. 




Dr. Asad Zaman (BS Math MIT, PhD Economics Stanford) Professor of Economics at IIU speaks at a seminar organized by Mustaqbil Pakistan in Lahore on 7 December 2013. Moderated by MP Chairman Nadeem Mumtaz Qureshi (BS, MS Civil Eng MIT)) the seminar was entitled ‘Alternate Economics – Building the Future of Pakistan’. Prof Zaman spoke about the pitfalls in conventional economic wisdom. He invited the audience to think outside the envelop. The key to our future may well lie in our own history which we have forgotten or ignored.

Dr. Zaman in this soft spoken yet compelling tour de force traces economic history from pre Islamic days to the global financial implosion of 2008.

This talk was recorded, and the sound track is available from the link below.




We are deeply sorrow to announce the news of  of Gustav Ranis, the leading development economist, the Frank Altschul Professor Emeritus of International Economics at Yale, died on Oct. 15, 2013 at age 83.

He was also the director of Pakistan Institute of Development Economics (1958 to 1961). he was also the former director of the Yale Center for International and Area Studies and of the Economic Growth Center.  He has more than 20 books and 300 articles on theoretical and policy-related issues of development to his credit. He is the author of “Development of the Labor Surplus Economy,” “En Route to Modern Economic Growth: Latin America in the 1990s,” “Growth and Development from an Evolutionary Perspective,” and “Japan and the U.S. in the Developing World.”

On 25th Sep, 2013 HEC has given best book prize award to the book “The evolution of development policy” by Professor Dr. Syed Nawab Haider Naqvi of FUUAST School of Economics.

Dr. Naqvi has done extensive work on Econometric Modelling,  International Economic Policy, Agricultural Economics, Comparative Economic Systems and Development Economics and Policy. his book offers a paradigmatic account of the evolution of development policy in the last half a century or so. It identifies three principal paradigms–namely the Traditional Development Paradigm, the Liberalist Paradigm, and the Human Development Paradigm–that have had a direct effect on development policy. This book argues that the stage has been set for a New Development Paradigm, which synthesizes the valid parts of the preceding paradigms (especially of the Traditional Development Paradigm and the Human Development Paradigm) to tackle the elemental development issues-economic growth, distributive justice (including gender equity), poverty reduction and convergence-as an irreducible set of policy objectives.Oxford University Press, USA

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