Economics of the Middle East

3 Credits · Level: Graduate, Undergraduate

This course examines the process of economic development in the Middle East and North Africa (MENA) in the post-WWII period. It is designed to expose students to current thinking by academics and policy makers on past experience and future challenges facing the economies of the region. The emphasis will be on developing a deep overall understanding of the origins and nature of various economic problems while at the same time providing a critical examination of existing and alternative policy formulations in MENA. To this end, readings, lectures and discussions will be focused on the origins and nature of state intervention in the economy; the sources of economic growth and structural transformation; population growth and the economic impact of demographic transitions; trends in employment, poverty and inequality; the macroeconomics crisis of the 1980s and the political economy of policy reform; financial development, equity markets and Islamic banking; problems of governance and institutional development; regional trade integration and the challenge of globalization; and alternative development paths in the 21st century.