Efficient frontier of risky assets and minimum

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Efficient Frontier of risky assets and minimum-variance portfolio , The difference between mean-variance analysis and CAPM , Solving the required return of common stock using the CAPM , Interpretation and meaning of Stoc k‘s Beta , Decomposition of variance of an asset‘s return , Basic concepts of Arbitrage , Empirical evidence on the CAPM and market efficiency , Time series modeling , Random walk model , Unit root and stationarity concept , Co-integration and error correction models , The application of time series tools in Purchasing Power Parity (PPP). SUGGESTED READINGS: 1. A. Kane, Z. B. & Marcus, A.J. (2007), Investments, Irwin: McGraw-Hill 2. Enders, W. (2004) Applied Econometrics, Wiley‘s Publisher. ECONOMICS OF LAND AND WATER RESOURCES 3 (3-0) Introduction to land economics, principles of land utilization, land resources evaluation, man-land relationship, present and future land requirements, present land use and its problems. Institutional arrangements affecting land use and reclamation. Conservation and improvement. Planning, zoning and efficient use of land resources; Land reforms. Water as a scarce resource, water markets, principles of water pricing, estimation of alternative water use returns, water policy and resources allocation problems; Water resource development, planning and management. Surface and ground water resources in Pakistan; Methods of water application and water use efficiency. Water losses and measures. Investment strategies for irrigation; Water logging and salinity issues; Drainage of irrigated soils; Environmental, social and political dimensions of water use. TEXT BOOKS: 1. Ashfaq, M., Griffith, G. & Hussain, I. (2009). Economics of Water Resources in Pakistan. Pakistan: Pak TM Publishers. 2. Tietenberg, T. & L Lewis (2008). Environmental and Natural Resource
41 Economics, 8 th Edition, Pearson Company Publisher. 3. Griffin, R. C. (2006). Water Resource Economics: the analysis of scarcity, policies and projects. MIT Press. SUGGESTED READINGS: 1. Ahmad, N. (1993). Water Resources of Pakistan and Their Utilization. 2. Gibbon, E.C.(1986). The Economic Value of Water. Resources for Future INC, Washington, DC. 3. Dorfman, R. & Dorfman, N.S. (1990). Economics of Environment. Toronto, Canada: W. Norton and Company, Inc. 4. Newson, M.(1997). Land, Water and Development. London: Rout Ledge Publisher. MATHEMATICAL PROGRAMMING 3 (2-1) Introduction to linear programming (LP): formation of LP problem; Assumptions of linear programming, the simplex methods; Dual linear programming; interpretation of linear programming solution. Post- optimality analysis, sensitivity analysis, parametric programming. Transportation problem, diet/feed mix problem, joint products, assembly and disassembly problems, sequencing and storage problems. Integer and Nonlinear Programming: integer programming, duality and integer programming, nonlinear programming, quadratic programming, Introduction to Goal Programming. Application of Tora Software.

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