Faculty Profile

Noman Arshed


School of Business and Economics

Department of Economics

 : [email protected]     : 3362     : +92 42 35212801   


  • Full Name: Noman Arshed
  • Current Position: 
    • Lecturer Economics 
    • Associate Editor, Empirical Economic Review
  • Academic Department: Department of Economics
  • Contact Details: [email protected]


Noman Arshed, a graduate of the University of Edinburgh UK, has proven demonstrated analytical and quantitative reasoning skills and research experience in Microeconomics and Econometrics. His research areas include: Microeconomics (primary data analysis, questionnaire development, consumer behavior, and game theory), Macroeconomics (Exchange rate, Health Economics and Finance) and Econometrics (Advanced Cross-sectional, Time series and Panel Data models) with functional skills to operate research and statistical software packages including: SPSS, Eviews, Microfit, STATA and R Language. He has made an online library for statistical software tutorials at available for everyone to learn new software and owns a blog based on discussions on econometrics. 


Micro Economics; Econometrics; Statistical Economics; Mathematical Economics


Visiting Faculty in 2013-14: University of Punjab

Internship in 2009: Punjab Economic Research Institute


BS Courses

  • 110: Introduction to Economics
  • 210: Microeconomics
  • 220: Macroeconomics
  • 225: Business Economics
  • 150: Intermediate Microeconomics
  • 315: Development Economics
  • 330: Econometrics I
  • 435: Research Methodology in Economics & Finance

MS Courses

  • 610: Advanced Econometrics 
  • 620: Methodology of Economics Research

MBA Courses

  • 510: Global Political Economy - Impact of National Economic Policy on Business       

Research Supervision

  • Supervising 6 BS Economics Thesis
  • Co-Supervising 5 MS Economics Thesis


  • PhD Islamic Banking and Finance, University of Management and Technology Pakistan (Expected 2018)
  • MSc Economics, University of Edinburgh UK, 2011
  • BS Economics, FCCU Pakistan, 2010



Hassan, M. S., Arshed, N., Tahir, M. N., & Imtiaz, A. (2019). Economic prospects of stock market development: A comparison of two worlds. Paradigms, 13(1), 119-125. Available at (HEC - Y Cat.)

Hassan, M. S., Bukhari, S., & Arshed, N. (2019). Competitiveness, Governance and Globalization: What matters for Poverty Alleviation. Environment, Development and Sustainability, 1-28. Available at: (JCR Listed IF = 1.379 - ISSN 1387-585X)

Anwar, A., Sarwar, S., Amin, W., & Arshed, N. (2019). Agricultural practices and quality of environment: evidence for global perspective. Environment Science and Pollution Research, 1-14. Available at (JCR Listed IF = 2.80 - ISSN 0944-1344)

Arshed, N., Anwar, A., Hassan, M. S., & Bukhari, S. (2019). Education Stock and its Implications for Income Inequality: The case of Asian economies. Review of Development Economics, 1-17. Available at (JCR Listed IF = 0.54 - ISSN 1467-9361)

Kanwal, W., Ahmad, H. R., Arshed, N., & Gulzar, M. (2019). Labor Supply and Demographics: A case of Pakistan. Journal of Labor and Society, 1-18. Available at:  (ESCI – ISSN 2471-4607)

Kalim, R., Arshed, N., & Shaheen, S. (2019). Does Competitiveness Moderates Inclusive Growth: A Panel Study of Low-Income Countries. Competitiveness Review. 29(2), 119-138. Available at: (ESCI - ISSN 1059-5422)

Inabo, O. A. & Arshed, N. (2019). Impact of health, water and sanitation as key drivers of economic progress in Nigeria. African Journal of Science Technology Innovation and Development.  11(2) – 235-242 Available at  (ESCI – ISSN 2042-1338)

Mushtaq, A., Arshed, N., & Kalim, R. (2018). Islamic banking financing effect on growth. Islamic Banking and Finance Review, 5, 69-87. Available at

Sadiq, R., Khan, T. M. & Arshed, N. (2018). Empirical Analysis of Structural Income Changes in Commercial Banks: A Case of Pakistan. Lahore Journal of Business, 7(1). Available at:  (HEC – Y Cat.)

Arshed, N., Hassan, M. S., Grant, K. A., & Aziz, O. (2018). Are Karachi Stock Exchange Firms Investment Promoting? – Evidence of Efficient Market Hypothesis Using Panel Cointegration. Asian Development Policy Review, 7(2), 52-65. Available at:

Kalim, R., & Arshed, N. (2018). What determines the Social Efficiency of Islamic Banking Investment Portfolio. Journal of Islamic Business and Management, 8(2), 386-406. Available at: (HEC - Y cat.)

Rasheed, B., Arshed, N., Malik, Z. F., & Mahmood, M. T. (2018). Impact of corporate social responsibility on firm's performance: evidence from non-financial sector of Pakistan. Afro-Asian Journal of Finance and Accounting8(2), 105-122. Available at: (Scopus, ISSN 1751-6447)

Arshed, N., Riaz, S., Hassan, M. S., & Aziz, O. (2018). Consequences of Agency Cost in Light of Maqasid Al Shariah. Australasian Journal of Islamic Finance and Business, 4(1), 19-27. Available at:

Arshed, N., Anwar, A., Kousar, N., & Bukhari, S. (2018). Education Enrollment Level and Income Inequality: A Case of SAARC Economies. Social Indicators Research, 140(3), 1211-1224. Available at:    (JCR Listed IF = 1.648, ISSN 0303-8300)

Sadiq, R., Arshed, N., & Ahmad, H. K. (2017). Determinants of cost efficiency of Islamic banks of Pakistan. Journal of Muamalat and Islamic Finance Research, 14(2), 111-128. Available at:

Malik, Z. F., Arshed, N., Hassan, M. S., Rasheed, B., Kazmi, S. T. F. H., & Gulzar, M. (2017). The Impact of Auditor Tenure on Audit Quality: Evidence from Pakistan. Paradigms - Research Journal of Commerce, Economics, and Social Sciences11(2), 202-209. Available at:  (HEC – Y cat)

Anwar, A., Arshed, N., & Anwar, S. (2017). The nexus between terrorism, investment and growth: an analysis of Muslim developing countries. Global & local economic review21(1), 23 – 40. Available at:  (ESCI – 1722-4241)

Arshed, N., Riaz, S., Khan, T., & Aziz, O. (2017). Financial Disintermediation and Profitability of Global Islamic Banks. European Journal of Islamic Finance, 7 (Special Issue), 1 – 11. Available at:

Arshed, N., Riaz, S.., Mushtaq, A., & Hassan, M. S. (2017). Concept of Scarcity in Islam; Natural vs. Manmade Resources. Journal of Islamic Economics, Banking and Finance, 13(1), 108 – 120. Available at:

Anwar, A., Arshed, N., & Kousar, N. (2017). Renewable Energy Consumption and Economic Growth in Member of OIC Countries. European Online Journal of Natural and Social Sciences6(1), 111-129. Available at:

Arshed, N., Alamgir, S., & Aziz, O. (2017). Structural Determinants of Poverty in Pakistan. International Journal of Economics and Financial Research3(1), 1-7. Available at:

Anwar, A., Arshed, N., & Anwar, S. (2017). Socio-Economic Determinants of Crime: An Empirical Study of Pakistan. International Journal of Economics and Financial Issues7(1), 312-322. Available at:

Arshed, N. (2016). Effects of Price and Interest Rate Differential on Multilateral Exchange rate of Pakistan. Journal of Social and Organizational Analysis, 2(2), 96 – 111. Available at:

Arshed, N., Anwar, A., & Sarwar, S. (2016). Role of Expenditures and Economic Factors in Determining the Incidence of Crime: Cross Districts Analysis of Punjab. Caspian Journal of Applied Sciences Research5(2), 32 – 40. Available at:

Anwar, A., Arshed, N., & Anwar, S. (2016). Causal relationship between military expenditure, foreign aid and terrorism: an analysis of Muslim countries. International Journal of Economics and Research, 7(6), 1 – 9. Available at:

Hassan, M. S., Akbar, M. S., Wajid, A., & Arshed, N. (2016). Poverty, Urbanization and Crime: Are They Related in Pakistan. International Journal of Economics and Empirical Research4(9), 483-492. Available at:

Arshed, N., & Abduqayumov, S. (2016). Economic Impact of Climate Change on Wheat and Cotton in Major Districts of Punjab. International Journal of Economics and Financial Research2(10), 183-191. Available at:

Sulaiman, I., Arshed, N., & Mushtaq, A. (2016). Can Stock Market Development Put Chains on Inflation? A Panel Cointegration Analysis on SAARC Countries. Journal of Business and Economics, 7(4), 666 – 675. Available at:

Ilyas, A., Arshed, N., & Hussain, T. (2016). Service Quality and customer satisfaction: a study on Islamic Banks of Pakistan. Journal of Business Strategies10(1), 73 – 88. Available at: (HEC – Z cat.)

Sulaiman, I., Arshed, N., & Hassan, M. S. (2016). Stock Market Development, Can it Help Reduce Inflation in SAARC Countries?. Journal of Accounting6(1), 101-110. Available at:

Arshed, N., Hassan, M. S., & Mushtaq, A. (2016). Smoking Advertisements and Its Impact on Human Behavior. International Journal of Scientific Research and Management4(3), 4030 – 4047. Available at:

Hanif, N., & Arshed, N. (2016). Comparison of Disclosure Level among Islamic banks and Its Effect on Performance. Islamic Banking and Finance Review, 3(1), 44-66. Available at:

Kalim, R., Mushtaq, A., & Arshed, N. (2016). Islamic Banking and Economic Growth: Case of Pakistan. Islamic Banking and Finance Review, 39(1), 29-43. Available at:

Arshed, N., & Zahid, A. (2016). Panel monetary model and determination of multilateral exchange rate with major trading partners. International Journal of Recent Scientific Research7(4), 10551-10560. Available at:

Mamoon, D., Raza, S., & Arshed, N. (2015). Impact of Health Capital and Education on Infant Mortality Rate of Districts of Punjab. Journal of Management and Research, 1(2), 9 – 17. Available at:

Hassan, M. S., Wajid, A., Irfan, Q. M., Tahir, M. N., & Arshed, N. (2014). Some Price And Non-Price Factors Affecting Imports In Pakistan. Pakistan Journal of Applied Economics24(2), 159-177. Available at: (HEC - Y Cat.)

Bhatti, M. A., Arshed, N., & Haseeb, M. (2013). Performance of CHEERs Based Equilibrium Exchange Rate of Pakistan. Business and Management Horizons1(1), 17 – 43. Available at:


Entrepreneurship Facilitators and their role in Poverty Alleviation. American Canadian Conference for Academic Disciplines, McGill University, Montreal Canada, 5- 8 June 2019

The impact of entrepreneurial activity and poverty alleviation. 39th International Scientific Conference on Economic and Social Development – “Sustainability from an Economic and Social Perspective” Lisbon, 29-30 April 2019.

Knowledge Creation and Absorptive Capacity: A Panel Data Study of Innovation. 3rd FCCU Economics Research Conference on Sustainable Economic Development: Dynamics and Prospects, Forman Christian College University Lahore, 28 April 2019.

The impact of Financing on the Risk of Islamic Banks. Global Forum on Islamic Finance (GFIF), COMSATS University Islamabad, Lahore Campus, Lahore, 13th – 14th March 2019

Modelling the Demand and Supply of Ijarah Financing. 4th Global Forum on Islamic Economics, Finance and Banking (IEFB), University of Management and Technology, Lahore. 27th – 28th February 2019

Education Stock and its Implications for Income Inequality: The case of Asian economies. 9th International Conference on Management Research, The Superior College Lahore, 29th -30th November, 2018

Can Environment Kuznets curve be moderated – A comparison of SAARC and G7 economies. 2st FCCU Economics Research conference on Growth Governance and Socio-economic Gaps, Forman Christian College University Lahore, 10th May 2018

Personal Fund Manager Account: An Islamic Banking Effort to Promote Microfinance. 1st World Islamic Economics & Finance Conference, Minhaj University Lahore, 3rd - 4th January 2018

Channel of Islamic Banking Financing effect on Growth. 1st Conference on Economy of Pakistan, Opportunities and Vulnerability, Forman Christian College University, 9th May 2017

Empirical Analysis of Structural Income Changes in Commercial Banks: A Case of Pakistan. 5th Annual Business Research Conference on Managing Business in Pakistan, Lahore School of Economics, 21st – 22nd April 2017

Determinants of Cost Efficiency of Islamic Banks of Pakistan. 2nd Global Forum on Islamic Economics, Finance and Banking, University of Management and Technology, 25th – 26th January 2017

Financial Disintermediation of Profitability of Global Islamic Banks. 2nd Global Forum on Islamic Economics, Finance and Banking, University of Management and Technology, 25th – 26th January 2017

Shariah Based Objective of a Firm; Role of Maslahah and Agency Cost. 1st Global Forum on Islamic Economics, Finance and Banking, University of Management and Technology, January 2016

Concept of Scarcity in Islam; Natural vs. Manmade Resources. 5th International Applied Business Research, International Islamic University Islamabad, 17th – 18th May 2016

Does Income Inequality lead to Education Inequality? 13th International Conference on Statistical Sciences, Islamia College, Peshawar, 16th - 19th March 2015



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