CSS Economics Past Papers 2016-2024 – Download Free pdf

Group I of the CSS optional subjects includes the following subjects, each carrying 200 marks:

1. Accountancy & Auditing
2. Economics
3. Computer Science
4. Political Science
5. International Relations

Here’s a simple explanation of the pros and cons of choosing each subject and who should pick Economics in CSS Examination.

1. Accountancy & Auditing

• Pros:
  • Good for people with strong math and finance skills.
  • High scoring if you understand financial reports and accounting rules.
• Cons:
  • Difficult for those who don’t like numbers or math.
  • Requires a lot of practice with calculations.
• Who should opt for it?
  • Students with backgrounds in Accounting, Business, or Finance.

See More: CSS Accountancy & Auditing Past Papers

2. Economics

• Pros:
  • Helps understand how money moves in the world, how businesses work, and how prices are set.
  • Useful for those interested in trade, markets, and government policies.
  • Scoring if you are good at understanding concepts and can handle basic math.
• Cons:
  • Some parts can be hard, especially the graphs and equations.
  • Needs both theoretical knowledge and some math skills.
• Who should opt for it?
  • Students who have studied Economics, Commerce, or Business Studies. It’s also a good choice for people who are curious about how economies work.

3. Computer Science

• Pros:
  • Good for tech lovers and those who enjoy coding and computers.
  • Scoring if you are good with technology and programming.
• Cons:
  • Can be difficult if you don’t have a tech background.
  • Requires knowledge of programming and computer systems.
• Who should opt for it?
  • Students with Computer Science, IT, or Engineering backgrounds.

Read More: CSS Computer Science Past Papers

4. Political Science

• Pros:
  • Helps understand governments, laws, and how countries are run.
  • Great for those interested in politics and public affairs.
• Cons:
  • Requires a lot of reading and memorizing political theories and concepts.
  • Needs strong writing skills.
• Who should opt for it?
  • Students with backgrounds in Political Science, Law, or History.

5. International Relations

• Pros:
  • Great for those interested in global issues, diplomacy, and foreign affairs.
  • Helps understand Pakistan’s relationships with other countries.
• Cons:
  • Requires keeping up with current events and international news.
  • Needs good analysis and writing skills.
• Who should opt for it?
  • Students who have studied International Relations, Political Science, or History.

Why Choose Economics?

If you have an interest in understanding the world’s money systems, how businesses grow, or how governments make financial decisions, Economics is a good choice. It is best suited for students who have studied Economics, Commerce, or Business Studies in academics. However, anyone who enjoys learning about trade, markets, and financial policies might find it interesting!

Paper-I (100 Marks)

I. Micro Economics

Consumer behaviour, Determination of market demand and supply i.e. concept of elasticity of Demand & Supply, Static, Comparative Static Analysis, Distinction between partial and general equilibrium analysis (basic level), theory of the Firm, Producer’s equilibrium, Pricing of the factors of production

II. Macro Economics

Basic Economic Concepts, National Income Accounting, Consumption Function, Multiplier, Accelerator, Component of Aggregate Demand, Labour Demand and Supply, Un-Employment, Determination of equilibrium level of income and output (at least with reference to two or three “schools of thought”), Inflation.

III. Money and Banking

Functions of Money, Quantity Theory of Money, The Fisher and Cambridge Formulations, Systems of note issue, Credit Creation, Functions of Central Banks, Instruments of Credit Control, Distinction between Goals, Operational & Intermediate Target of Central Banks Policy, Concept of Reserves, Liquidity Premium, Term Structure of Interest Rate, etc; Transmission Mechanisms of Monetary Policy, Theory of Liquidity Preference. TVM, Capital Structure, Capital Restructuring, IS-LM Analysis and the role of Central Bank, Money Demand and Supply.

IV. Public Financing

Government expenditure, Sources of Government Revenue, Privatization, Taxes and non- taxes, Incidence of different taxes, Public Debt, Objectives, methods of repayment, Deficit financing, General Equilibrium Analysis, Welfare Economics, Fiscal Policy.

V. International Trade

Theories of comparative advantage and Factor Endowments, Trade & Growth, Colonialism, Imperialism and International Trade, Trade Restrictions, Economic Integration, Trade Policy, Balance of Payments, Foreign Exchange, International Monetary system, Custom Unions.

VI. Economic Development

Concepts of development, Human development, Historical growth process and Development, Theories of development, structural issues of development, Income distribution and poverty, sectoral (agricultural, Industry, trade and fiancé) issues and development, environment and development.

Paper-II (100 Marks) (Economics of Pakistan)

I. Definition and Measurement of Development: Characteristics of under development, rethinking on the concept of development: Growth vs. Redistributive justice, Absolute and Relative Poverty, Basic Needs Approach, Sustainable Development, Environmental Degradation & other Issues.

II. Planning Experience of Pakistan: A critical evaluation of the strategy of economic planning, governance & Institutions.

III. Agricultural Development in Pakistan: Changes in Agricultural Policies over plan periods, Major Monetary and Fiscal measures to promote Agricultural development, Green Revolution Strategy and its implications for growth and redistribution, Land Reforms and changes in the Tenure System 1950—1980, Cooperative Farming, Rural Development.

IV. Industrial Development in Pakistan: Early industrialization strategy, Creation of Financial and Development Institutions, Major monetary and fiscal measures to promote industrial development, changing role of public sector over the plan periods, Evaluation of Nationalization Policy, Concentration of industrial income and wealth, Evaluation of Import Substitution Policy and Export led Growth Strategy in Pakistan.

V. Role of Foreign Trade and Aid in Economic Development: Trends in Pakistan’s Balance of Payments, Terms of Trade, Changes in direction of trade, Trends in Pakistan’s major exports and imports, Causes of significant changes in the trends, the role of migration and remittances in Pakistan’s economy, costs and benefits of Foreign Aid, Role of Foreign Investment.

VI. Privatization, Denationalization, Deregulation: conceptual and operational aspects. International comparisons. Pakistan Experience of Privatization.

VII. Interest Free Banking in Pakistan

VIII. Energy Policy of Pakistan

XI. Social Sector Development in Pakistan

X. Major Issues in Pakistan Economy: Energy crisis, Corruption, Bad governance, External debt accumulation and dependency, Unemployment, Income inequality, Inflation, Fiscal and trade deficits, Balance of payment issues, Shortage of irrigation water.