![Ghufran Ahmad](https://profiles-cardiff.imgix.net/attachments/33?w=200&h=200&auto=format&crop=faces&fit=crop&q=90")
Dr Ghufran Ahmad
(he/him)
- Available for postgraduate supervision
Teams and roles for Ghufran Ahmad
Lecturer
Overview
I joined Cardiff Business School as a Lecturer in January 2023, and previously worked in the National University of Sciences and Technology (NUST), Pakistan, from September 2017 to January 2023.
My research interests include systemic risk, spillovers, and interconnectedness, behavioral economics, and microeconomic theory. My research work has been published in well-reputed international journals such as Journal of Economic Behavior and Organization, Games and Economic Behavior, Economics Letters, Emerging Markets Review, Pacific-Basin Finance Journal, Finance Research Letters, Journal of Forecasting, and Global Health Action.
Publication
2025
- A. Qureshi, I. and Ahmad, G. 2025. Oil price shocks and US business cycles. Journal of Economic Dynamics and Control 177 105132. (10.1016/j.jedc.2025.105132)
- Rizwan, M. S. , Ahmad, G. and Qureshi, A. 2025. Central bank digital currency and systemic risk. Journal of International Financial Markets, Institutions and Money 99 102104. (10.1016/j.intfin.2024.102104)
2024
- Ahmed, F. et al., 2024. Promoting comprehensive sexuality education in Pakistan using a cocreated social media intervention: Development and pilot testing study. JMIR Formative Research 8 e52651. (10.2196/52651)
2023
- Ahmad, S. and Ahmad, G. 2023. Water supply and demand: national and regional trends. In: Ahmad, M. ed. Water Policy in Pakistan. Vol. 30, Global Issues in Water Policy Vol. 1.Cham, Switzerland: Springer. , pp.91-121. (10.1007/978-3-031-36131-9_4)
2022
- Ahmed, F. et al., 2022. Understanding community resistance to sexuality education and exploring prospective implementation strategies in Pakistan: A content and network analysis of qualitative data. Frontiers in Psychology 13 (10.3389/fpsyg.2022.864465)
- Ashraf, D. , Rizwan, M. S. and Ahmad, G. 2022. Islamic equity investments and the COVID-19 pandemic. Pacific-Basin Finance Journal 73 101765. (10.1016/j.pacfin.2022.101765)
- Qureshi, A. et al., 2022. Russia-Ukraine war and systemic risk: Who is taking the heat?. Finance Research Letters 48 103036. (10.1016/j.frl.2022.103036)
- Rizwan, M. S. , Ahmad, G. and Ashraf, D. 2022. Systemic risk, Islamic banks, and the COVID-19 pandemic: An empirical investigation. Emerging Markets Review 51 (Part B) 100890. (10.1016/j.ememar.2022.100890)
2021
- Ahmad, G. 2021. Group incentive compatibility in the housing market problem with weak preferences. Games and Economic Behavior 126 , pp.136-162. (10.1016/j.geb.2020.12.004)
- Ahmad, G. et al. 2021. Evaluating data-driven methods for short-term forecasts of cumulative SARS-CoV2 cases. PLoS ONE 16 (5) e0252147. (10.1371/journal.pone.0252147)
- Ahmad, G. , Rizwan, M. S. and Ashraf, D. 2021. Systemic risk and macroeconomic forecasting: A globally applicable copula-based approach. Journal of Forecasting 40 (8), pp.1420-1443. (10.1002/for.2774)
- Ahmed, F. et al., 2021. A cross-sectional community readiness assessment for implementing school-based comprehensive sexuality education in Islamabad, Pakistan. International Journal of Environmental Research and Public Health 18 (4) 1497. (10.3390/ijerph18041497)
- Huseynov, S. , Palma, M. A. and Ahmad, G. 2021. Does the magnitude of relative calorie distance affect food consumption?. Journal of Economic Behavior and Organization 188 , pp.530-551. (10.1016/j.jebo.2021.05.037)
- Muhammad, J. et al., 2021. A cross-sectional survey to assess biorisk management system in research and diagnostic laboratories in Khyber Pakhtunkhwa, Pakistan. Frontiers in Public Health 9 766162. (10.3389/fpubh.2021.766162)
- Qureshi, I. A. and Ahmad, G. 2021. The cost-channel of monetary transmission under positive trend inflation. Economics Letters 201 109802. (10.1016/j.econlet.2021.109802)
2020
- Ahmed, F. et al., 2020. Key indicators for appraising adolescent sexual and reproductive health in South Asia: international expert consensus exercise using the Delphi technique. Global Health Action 13 (1) 1830555. (10.1080/16549716.2020.1830555)
- Rizwan, M. S. , Ahmad, G. and Ashraf, D. 2020. Systemic risk: The impact of COVID-19. Finance Research Letters 36 101682. (10.1016/j.frl.2020.101682)
Articles
- A. Qureshi, I. and Ahmad, G. 2025. Oil price shocks and US business cycles. Journal of Economic Dynamics and Control 177 105132. (10.1016/j.jedc.2025.105132)
- Ahmad, G. 2021. Group incentive compatibility in the housing market problem with weak preferences. Games and Economic Behavior 126 , pp.136-162. (10.1016/j.geb.2020.12.004)
- Ahmad, G. et al. 2021. Evaluating data-driven methods for short-term forecasts of cumulative SARS-CoV2 cases. PLoS ONE 16 (5) e0252147. (10.1371/journal.pone.0252147)
- Ahmad, G. , Rizwan, M. S. and Ashraf, D. 2021. Systemic risk and macroeconomic forecasting: A globally applicable copula-based approach. Journal of Forecasting 40 (8), pp.1420-1443. (10.1002/for.2774)
- Ahmed, F. et al., 2020. Key indicators for appraising adolescent sexual and reproductive health in South Asia: international expert consensus exercise using the Delphi technique. Global Health Action 13 (1) 1830555. (10.1080/16549716.2020.1830555)
- Ahmed, F. et al., 2024. Promoting comprehensive sexuality education in Pakistan using a cocreated social media intervention: Development and pilot testing study. JMIR Formative Research 8 e52651. (10.2196/52651)
- Ahmed, F. et al., 2021. A cross-sectional community readiness assessment for implementing school-based comprehensive sexuality education in Islamabad, Pakistan. International Journal of Environmental Research and Public Health 18 (4) 1497. (10.3390/ijerph18041497)
- Ahmed, F. et al., 2022. Understanding community resistance to sexuality education and exploring prospective implementation strategies in Pakistan: A content and network analysis of qualitative data. Frontiers in Psychology 13 (10.3389/fpsyg.2022.864465)
- Ashraf, D. , Rizwan, M. S. and Ahmad, G. 2022. Islamic equity investments and the COVID-19 pandemic. Pacific-Basin Finance Journal 73 101765. (10.1016/j.pacfin.2022.101765)
- Huseynov, S. , Palma, M. A. and Ahmad, G. 2021. Does the magnitude of relative calorie distance affect food consumption?. Journal of Economic Behavior and Organization 188 , pp.530-551. (10.1016/j.jebo.2021.05.037)
- Muhammad, J. et al., 2021. A cross-sectional survey to assess biorisk management system in research and diagnostic laboratories in Khyber Pakhtunkhwa, Pakistan. Frontiers in Public Health 9 766162. (10.3389/fpubh.2021.766162)
- Qureshi, A. et al., 2022. Russia-Ukraine war and systemic risk: Who is taking the heat?. Finance Research Letters 48 103036. (10.1016/j.frl.2022.103036)
- Qureshi, I. A. and Ahmad, G. 2021. The cost-channel of monetary transmission under positive trend inflation. Economics Letters 201 109802. (10.1016/j.econlet.2021.109802)
- Rizwan, M. S. , Ahmad, G. and Ashraf, D. 2022. Systemic risk, Islamic banks, and the COVID-19 pandemic: An empirical investigation. Emerging Markets Review 51 (Part B) 100890. (10.1016/j.ememar.2022.100890)
- Rizwan, M. S. , Ahmad, G. and Ashraf, D. 2020. Systemic risk: The impact of COVID-19. Finance Research Letters 36 101682. (10.1016/j.frl.2020.101682)
- Rizwan, M. S. , Ahmad, G. and Qureshi, A. 2025. Central bank digital currency and systemic risk. Journal of International Financial Markets, Institutions and Money 99 102104. (10.1016/j.intfin.2024.102104)
Book sections
- Ahmad, S. and Ahmad, G. 2023. Water supply and demand: national and regional trends. In: Ahmad, M. ed. Water Policy in Pakistan. Vol. 30, Global Issues in Water Policy Vol. 1.Cham, Switzerland: Springer. , pp.91-121. (10.1007/978-3-031-36131-9_4)
Research
Research interests
- Stability of Financial Systems
- Systemic Risk, Spillovers, and Interconnectedness
- Behavioral Economics
Teaching
Teaching commitments
- Financial Economics
- British Economy
- Introductory Econometrics
Biography
Qualifications
- Ph.D. in Economics, Texas A&M University, College Station, Texas, USA
- B.Sc. (Hons.) in Economics, Lahore University of Management Sciences, Lahore, Pakistan
Academic positions
- Associate Professor, NUST Business School, National University of Sciences and Technology (NUST), Pakistan (2022-2023)
- Assistant Professor, NUST Business School, National University of Sciences and Technology (NUST), Pakistan (2017-2022)