Research Proposal Muhammad Tahir Topic : New Development Bank vs IMF Research Questions Is BRICS and its New Development Bank challenge the IMF and US Hegemony? Who are emerging economies in the world and what impact on world for their emergence? Introduction In this research I want to introduce a new fastest growing group in shape of BRICS contains five emerging economies, Brazil, Russia, India and China and South Africa. Focusing on BRICS and its New Development Bank which challenge the IMF and US Hegemony. This study aims to explore and understand BRICS and U.S capacity and determine is BRICS really in position to challenge U.S and its mature system. Political scholars observe this group as a real opponent of U.S and its monetary system in shape of IMF, World Bank History The term BRICS was used for the first time in the Goldman Sachs report 2003 BRICS is international political organization of leading emerging economies. BRICS became a new and promising political-diplomatic entity BRICS stands for Brazil, Russia, China, and South Africa Basically Established on 16th June 2009 It is the fastest growing and emerging economics BRICS is the international political organization of leading emerging economies. Its five members are all developing industrialized countries Significance What, Why, How I want to prove that this status of U.S is going to be strongly challenged by BRICS countries and its beginning is through BRICS New Development Bank and now world is going ahead from uni to multi polar world. This study will explore the causes which challenge U.S hegemony. It will help students of Political Science and I.R to understand the challenges have to face emerging economies. How: It’ll just happen through fastest growing economies and their Bank which is openly challenging the IMF and mutual strong cooperation among BRICS countries. Conceptual Framework In this research I want to prove that world is going to multipolar from unipolar and my theoretical frame work is surrounding to uni to multi polarity of the world. Operational Difference Here is comparisons between BRICS and U.S and institutions. And logically proved that only BRICS can challenge US hegemony. Literature review This review provides a critical evaluation of the literature produced on the BRICS and its New Development bank format to challenge against the hegemony of U.S. The critique of selected literature focuses on the BRICS policies, agenda and their rapid development cause open challenge to U.S and its related institutions hegemony Briefly discuss BRICS summits history, creation of NDB CRA and its comparison with IMF and U.S Theory (Theoretical Framework (Paradigm) Formal Theory/Informal Theory) In this research I want to prove that world is going to multipolar from unipolar and my theoretical frame work is surrounding to uni to multi polarity. Research Design: Methodology Paradigm: In this study sets in rational choice and ontological position relative and co-constructed realities and epistemological objectivist and foundationalist. Type: In this study set in descriptive, historical and analytical type. Method: Qualitative method has been utilized in this research Data Source:The study will rely on secondary sources. Population: Main population of this research is articles and books. These articles and books are published during 2003 to 2015. Unit of Analysis: Main Unit of Analysis of this research is flexible and data will lead the analysis and coding will be according to data. Data Collection: In this research articles and books references main sources are Google scholar, articles, columns, reports and books. Data Analysis: In this research thematic analysis is used. And Categorizing and coding pieces of data and grouping them into themes. Analysis This is the beginning of BRICS and it is ready to challenge the US and west economy and hegemony but its fact that they are still far from being the number one power of the world due to some lacks Michael U.S US Cox Points High living standards economy continues to lead the world economy Technology & Innovation Conti…….. Its better to say that BRICS nations have the potential and resources to form a powerful economy with greater opportunity’s than any other nation. Last ten years are a testimony of this statement. A stronger BRICS can also have more influence in other multilateral forums such as the IMF world bank etc. In short, powerful BRICS will cause the world directing towards multilateral system where balance of power will be enough good for world peace. Any Question?