The aim of this course will be to bring broader tools and concepts of political economy to the analysis of the rapidly changing Middle East and North Africa (MENA) region. The course will cover a wide variety of topics, with an emphasis on the underlying mechanisms of capital flows in the context of an ongoing transition in energy and demographic components in the region. The course will focus on the buildup of financial pressures and the impact on economic and social contracts in the different areas of the region.
The course will examine the impact on the existing economic and political structures and the different economic and financial reforms needed and their feasibility in the context of the global energy and economic framework of the global economy. Reference to current events including the various processes of social and economic crises will be made. Each session will draw on both specific case literature and on more general conceptual readings covering fields such as the “resource curse” debate the changing energy equation and its impact on the political economy models, as well as sate-business relations and the policies of state administrations and budget management and currency devaluations in the different countries of the region. While based on current case studies from the region, the course will impart skills that will be applicable in a non-MENA context. There are a number of sources you should consult regularly to stay abreast of current economic developments in the MENA region among them:
- www.thenational.ae
- https://www.arabianbusiness.com
- www.ameinfo.com
- https://www.dailystar.com.lb
Additionally, check the Foreign Policy Middle east blog and the Jadaliya arab new wire on:
- https://foreignpolicy.com/channel/middle-east-africa/
- https://www.jadaliyya.com as well as the Carnegie Middle East Center on https://carnegie-mec.org
As the semester progresses, students will familiarize themselves with the use of data bases from international organizations like the IMF, the World Bank, UNCTAD, IEA, FAO, etc. There is no set textbook for the course and many sources will be available online. Consider however, reading extensively the “Political Economy of the Middle East” by Richards/Waterbury/Cammet/Diwan (2015 edition) as well as the Introduction chapter of “Business Politics in the Middle East” by Hertog and Luciani. While doing your prepatory readings, try to think through the questions given ta the end of each session's reading list. You're not expected to have ready answers to them, but you'll be expected to be able to discuss them in an informed way. Note that the topics will get concrete and empirical very quickly during the semester.
Learning Outcomes:
1. Understanding the mechanisms of budgetary and subsidies policies in the MENA region
2. Understanding of the financial mechanisms and of the Energy and Water equations of the MENA region. Learn ow to assess the impacts of Climate change and Energy transition on the short terme and long-term economic models of the MENA region.
3. Understand the specificities of the banking sector balance sheets and assess the investment and cash flow structures of the Sovereign Wealth funds in the MENA region.
Professional Skills :
1. Statistical Analysis
2. Balance sheet analysis
3. Coordination and Ideas Pitching.
The grading of the course will be based on the presentations given in class for 30% of the grade, a short 2000 words research paper that will be due at the end of the semester for 50% of the grade for which students are expected to develop the research question in consultation with the professor, and the general participation in the class discussions and attendance for 20% of the grade.