Syed AHMAD, economist in the field of Technological Change; Domestic Monetary and Financial Theory and Policy; Microeconomic Theory. Silver Jubilee Medal Distinguished Services, University Khartoum, 1980.
AHMAD, Syed was born in 1930 in Bishunpur, Muzaffarpur, Bihar, India.
Bachelor of Arts, Master of Arts, Bachelor of Laws Muslim University, Aligarh, 1950,1952,1952. Master of Science, Doctor of Science London University, 1956, 1978.
Lector, Muslim University, Aligarh, India, 1956-1957. Lector, Senior Lector, Professor, University Khartoum, Sudan,
1957-1970. Professor Economics Theory, University Kent, Canterbury, United Kingdom, 1970-1972.
Professor of Economics, McMaster University, Hamilton, Ontario, Canada, since 1972. Editorial Boards, E. African J. Economics, Pakistan J. Applied Economics.
Developed the concept of the ‘innovation possibility curve’ (IPC), which provides an analytical basis for Hicks’s intuition of ‘price-induced’ technological change, and for identifying losses due to inappropriate technologies. Stressed the importance of using an appropriate marginal approach to evaluate ‘wealth’ in the form of money and other nominal assets, and explored the implications of the choice of the unit of measurement for such evaluation. The central theme of most of the contributions in these and other fields is the role and measurement of capital in its various aspects: variable and fixed capital.
The economic longevity of capital equipment. Technical change as a means of changing the efficiency of capital and other co-operating factors. And the appropriate approaches to measuring capital and wealth.
Recent work includes empirical research on capital and technological change in the development of a number of MiddleEastern countries, and a nearlycompleted book on capital theory.