Module MEIS2251: THE MIDDLE EAST IN THE GLOBAL ECONOMY

Department: GOVERNMENT AND INTERNATIONAL AFFAIRS (MIDDLE EASTERN AND ISLAMIC STUDIES)

MEIS2251: THE MIDDLE EAST IN THE GLOBAL ECONOMY

Prerequisites

• Politics, Economy & Society of the Middle East (MEIS1031) Introduction to International Relations (POLI1031).

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• A module designed to provide a greater understanding of the external and internal contexts in which economic and business decisions are undertaken in the Middle East.

Content

• 1.Theories of economic globalisation.
• 2.The position of the Middle East in the Global economy.
• 3.The cultural, political and legal environment confronting multinational companies in the Middle East.
• 4.Explaining trade patterns in terms of natural resource advantage, relative labour costs and technological and organisational differences.
• 5.The international market for oil and gas; Spot and contract prices; Cartel theory; OPEC as a residual supplier; Spatial pricing theory.
• 6.Intra-regional and inter-regional trade agreements and WTO obligations.
• 7.Techniques of country risk appraisal: micro and macro risk analysis.
• 8.Macroeconomic performance and exchange rate stability.
• 9.IMF structural adjustment programmes, unemployment and prices.
• 10.Foreign direct investment decisions.
• 11.The banking infrastructure of the Middle East.
• 12.The emerging capital markets of North Africa, the Eastern Mediterranean and the Gulf.
• 13.Evaluating the benefits and costs of super projects in the Middle East.
• 14.International business negotiations and Middle Eastern diplomacy.
• 15.Secular and Islamic business ethics.
• 16.Human resource management issues with culturally diverse labour forces.

Learning Outcomes

• To analyse the direction and composition of Middle Eastern trade.
• To understand the major theories of oil pricing and their implications for the region.
• To be able to undertake country risk appraisals with respect to the economies in the Middle East and appreciate how these affect foreign direct investment and portfolio flows.
• To appreciate how religious, cultural and political values can impact on business decisions.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• The module will be delivered through lectures, and workshops.
• The theoretical and applied material will be covered in lectures.
• The seminar will provide students with the opportunity to make presentations, and improve on their business communication skills.
• The workshops will enable groups of students to work in teams and prepare economic and business briefs on Middle Eastern economies to simulated international client specifications.
• The feedback from the formative essay should help students with their summative essay.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One essay of 2,500 words. One seminar presentation.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University