Essay on “MPhil and Ph.D.

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MPhil is an abbreviation of "Master of Philosophy" and Ph.D. is an abbreviation of "Doctorate of
Philosophy". We have different defined levels of education in our education system such as
primary, secondary, and tertiary etc. MPhil and Ph.D. are considered as the fruits of our prior
education. MPhil and Ph.D. are the specialized stages where the students want to see themselves
and want to achieve their set goals. After studying in these two degree programs, a student
becomes specialized of a specified area. Along with these two associated degrees, a student
learns about the research skills. He also learns how to carry out a specific research on a relevant
issue which is associated along with the research topic. In line with the issue, the researcher tries
to find out the solution based on their findings.
Moreover, MPhil is considered to be an initial stage of entrance into research along with the
specific idea that is based on the specific issue. In contrast to MPhil, in the Ph.D., the students
become the researchers along with the comprehensive issue and comprehensive research.
For instance, as a student of research, I studied the research courses such as Research
Methodology and Financial Econometrics during my MS. Along with these courses, I have
studied several interdisciplinary journal articles and written on different topics under the
supervision of my teachers. Furthermore, as a student of research, my scholarly concerns were
mostly focused on critical and comparative analysis of financial issues in relation to Islamic
Laws. In lined with this, I wrote my thesis on “Shariah and Accounting Perspective of Usufruct
of Ijarah Financing: A study based on AAOIFI and IFRS Standards” under the supervision of Dr.
Irum Saba at IBA-Karachi. She is a well-known research scholar and underwent a strict review
of each of the chapters of my thesis. So the rigorous curriculum and research writing prepared
me for the Ph.D. level studies.
Since I have switched from Pre-Medical to the discipline of business administration, completed
BBA (Hons) in 2013 and MBA-Finance in 2016 along with the study of Uloom-e-Shariah.
Therefore, I have always shown my interest and involved in interdisciplinary projects during my
BBA and MBA which lead me to choose Islamic Finance as a lifelong career. Therefore, based
on my academic achievements and challenging background as a scholar, I wish to pursue a Ph.D.
in Finance and it would be an honor to pursue it at Iqra University because it would be a
privilege to participate in this critical discourse alongside the immensely distinguished Finance
faculty. Considering all these, I believe that I may be chosen as an ideal candidate for Ph.D.
program.