Subject(s): Economic development in Finance. -- Economic policy. -- Finance, Public. -- International trade- theory : Received theory, marketing failure, policy-imposed distortions, public finance -- International trade: protectionist polices, measure of protection, costs of departures from first best -- International trade- liberalization : Ranking policies, tariffs and wages, relaxation of quotas, import, reduction in regulated wages, devaluation -- taxation : Tax instruments, level and sources of revenue, optimal taxation, optimal commodity taxation, effective taxes - Pakistan 1975/6 -- Tax reforms : Quotas into tariffs, tariffs and excises into VAT, commodity taxes, inverse optimum problem, intermediate inputs -- Seigniorage and debt : Financing deficits, dynamics of debt, explosive trends in debt -- Dynamic pitfalls : costly reversals of policy, self fulfilling expectations and crises, VAT, investment , counter measures -- Introduction to social cost-benefit analysis : Private project, public project and social profitability, shadowing price, partial equilibrium approach, private projects -- Shadow prices : Social welfare functions, polices, regulated wages, tax reforms when there are distortions in production -- Time- social discount rate : Consumption rate of interest, simple inter temporal model, premium on government income, inter temporal structure of shadow prices -- Space - transportation costs -- Risk and uncertainty , large projects - irrigation projects, land reform and tenancy - property rights in land, redistributing private holdings, tenancy, political economy of land reform -- Small-scale credit : Demand for credit, lender's costs, evaluating credit programme, competition between formal and informal lenders, reforming public policy -- Primer in duality theory : Technology, profit function, cost fundation, envelope theorem, revenue or GNP function, indirect utility function, expenditure function