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Department of Financial and Management Studies (DeFiMS)

CONTEMPORARY ISSUES IN THE MIDDLE EASTERN AND NORTH AFRICAN ECONOMIES

Course Code:
151030019
Unit value:
0.5
Year of study:
Year 3 of 3 or Year 4 of 4
Taught in:
Term 1

This course introduces the student to a wide variety of issues that are important for MENA’s present and future economic and social development and their implication for management. The choice of issues is intended to reflect recent and contemporary developments and therefore contain a degree of flexibility. Selected issues will help throw light on the nature, rationale and impact of reform strategies developed in different MENA countries. It is however recognised that neither these current reforms nor their underlying policies can, however, be understood without reference to past developments. Accordingly, the discussion of each topic will give consideration to the historical background.

Upon successful completion of this course, it is hoped that students with a variety of backgrounds will understand the major issues facing MENA’s development and how through a better understanding, management can be better equipped to address these issues.

Objectives and learning outcomes of the course

At the end of the course students should be able to:

  • Discuss the MENA’s demographic development since 1945, the challenges it has produced, the socio-economic impact of population change and its likely affect on management decision marking
  • Critically evaluate developments in MENA labour markets including employment reforms and current trends in employment and changes in local and expatriate workforces
  • Explain the importance of technological upgrading in MENA economies and the transfer of technologies from elsewhere.
  • Discuss the problem of water shortages in the region and identify its impact on economic development, agriculture, and relations with neighbouring countries.
  • Assess the potential for greater international integration with the European Union, the US, Japan and China and the implication this might have for the future growth and development in the region  
  • Evaluate the major contemporary socio-economic challenges faced by MENA and their implications for future sustainable growth and investment
  • Provide insight on how management should deal with the uncertainty posed by the range of socio-economic variables analysed in the course

Method of assessment

This course is assessed by 30% written coursework and 70% by one two hour examination

Suggested reading

Indicative Readings:

  • Askari, H, Z Iqbal, and A Mirakhar (2009)  New issues in Islamic Finance and Economics: Progress and Challenges.  Chichester: Wiley  
  • Begg, D, Fischer, S and Dornbusch, R (2008) Economics, 8th Edition, McGraw-Hill, Maidenhead.
  • Begg, D and Ward, D (2006) Economics for Business, McGraw-Hill, Maidenhead.
  • Cowell, F (2006) Microeconomics: Principles and Analysis, Oxford University Press, Oxford
  • Fitzroy, F, Acs, Z and Gerlowski, D (1997) Management and Economics of Organization, Prentice Hall, London
  • Lipsey, R and Chrystal, A (2007) Economics, Oxford University Press, Oxford.
  • Mansfield, E et al (2005) Managerial Economics, Norton, London
  • Martin, L and Oughton, C (2000) Study Guide to Sitglitz and Driffill, Norton, London
  • McKinnon, R.I. (1991), The Order of Economic Liberalization: Financial Control in the Transition to a Market Economy, London and Baltimore: The John Hopkins University Press.
  • Milgrom, P (1992) Economics, Organization and Management, Prentice Hall, London.
  • Rivlin, P (2001) Economic Policy and Performance in the Arab World. London: Lynne Rienner
  • Roberts, J (2004) The Modern Firm, Oxford University Press, Oxford
  • Salvatore, D (2003) Microeconomics: Theory and Application, Oxford: OUP
  • Stiglitz, J and J Driffill,  (2000) Economics, Norton, London
  • Salvatore, D (2003) Microeconomics: Theory and Application, Oxford University Press, Oxford.