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

Tied To

• T6L1: Arabic with Economics

Pre-requisites

Corequisites

Excluded Combinations

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.