Business In Emerging Markets

Module Title	Business In Emerging Markets
Module Code	25-6004-00L
Semester of Delivery	See Module Information Tables
	See Module Information Tables
Level	6
Credit Points	20
Assessment Mode Weighting	CWEX100
Pre-requisites	Emerging Global System
Co-requisites	None
Class Contact Hours
Average Weekly	1.5
Directed Learning
Average Weekly	5
Module Leader	Jean Barclay
	Sheffield Business School
Module Banding	A
Approval Status	Validated

Rationale

The volatile emerging markets offer enormous opportunities and risks for firms from developed countries. They are often rich in natural resource and have high demand for capital goods and a wide range of products and services. They are also favoured locations for manufacturing firms wishing to exploit cheap labour, low taxes and minimum regulation. Integrating these markets into the world capitalist system is a challenge for national governments and for supranational institutions such as the regional blocks (EU, NAFTA, ASEAN, APEC, MERCOSUR, ALADI etc) and trans-national organisations (WTO, IBRD, IMF, EBRD). These markets have great potential for growth and therefore they attract portfolio investment from the financial institutions. Much of the economic development and manufacturing operations is impacting on the natural environment. Emerging markets are where 80% of the world's population live and where population growth is at its most rapid. Anyone with an interest in international business, environmental issues, the growth and expansion of the world economy and population, will have an acute interest in emerging markets.

Summary of Aims

Students will develop an appreciation of the role emerging markets play in the world economy. They will increase their understanding of the diversity of conditions that appertain within emerging markets and their understanding of the some of the main issues effecting these markets as viewed from the position of investing companies, home governments and international institutions.

Anticipated Learning Outcomes

On completion of the module students should

1. Identify key common characteristics of emerging market economies.

2. Critically evaluate the growth and development strategies of major emerging market economies.

3. Appraise business opportunities offered by emerging markets economies.

4. Formulate Strategies for doing business successfully with emerging market economies.

5. Analyse the role of international institutions in the development of emerging markets.

6. Compare and contrast key economic and political developments in emerging markets in Latin America, Africa, Eastern Europe and Asia.

7. Critically evaluate the risks and opportunities offered by emerging financial markets.

8. Assess the implications of globalisation for emerging market economies.

Assessment and Feedback Strategy

Seminars will provide the opportunity for regular formative assessment and feedback relating to the directed learning components which take the form of set readings on specific topics to be presented, discussed and evaluated in seminars.

The group work will form 10% of the assessed course work and students will receive verbal and written feedback on their performance.

The individual written assignment will form the remaining 20% of the assessed course work and students will receive individual written feedback and the opportunity to discuss this during a seminar when the assignments are returned and feedback in general terms is provided by the tutor.

Summative assessment will be in the form of a 3 hour unseen written exam comprising 70% of the total assessment.

Module Assessment Criteria

Learning Outcome	Assessment Criterion	Level descriptors
		fail	PASS	2.2	2.1	First
1,2,4,5 & 6	Exam, presentation assignment seminars (discussions, presentations)	No explicit answer to specific set question. To little evidence of reading. Work contains irrelevant material. key concepts not understood.	Contains an explicit answer to specific question. Shows sufficient knowledge and understanding of key concepts and topic. Demonstrates sufficient familiarity with course material and set reading. Generally does not do more than provide a basic answer and lacks sophisticated knowledge.	Contains all of the features of PASS but provided more than just the basic answer and shows more evidence of reading and understanding.	The explicit and detailed answers provide a very good level of analysis and display a sophisticated understanding of the key concepts and the topic with ample evidence of wide reading.	Displays excellent level of analysis within an always explicit, clear and relevant answer. Demonstrates a comprehensive and clear understanding of the key concepts and the topic. Applies the theory, analytical frameworks and where appropriate synthesises the results of the analysis. Shows evidence of wide reading.
3	presentation, seminars	No explicit answer to specific set question. Too little evidence of reading. Work contains irrelevant material. key concepts not understood.	Contains an explicit answer to specific question. Shows sufficient knowledge and understanding of key concepts and topic. Demonstrates sufficient familiarity with course material and set reading. Generally does not do more than provide a basic answer and lacks sophisticated knowledge.	Contains all of the features of PASS but provided more than just the basic answer and shows more evidence of reading and understanding.	The explicit and detailed answers provide a very good level of analysis and display a sophisticated understanding of the key concepts and the topic with ample evidence of wide reading.	Displays excellent level of analysis within an always explicit, clear and relevant answer. Demonstrates a comprehensive and clear understanding of the key concepts and the topic. Applies the theory, analytical frameworks and where appropriate synthesises the results of the analysis. Shows evidence of wide reading.

Students should be able to demonstrate an appropriate level of research and analysis in answering set seminars questions, individual assignments, group work and examinations.

Assessed group presentations should demonstrate that the individual group members have been capable of producing an integrated and well structured analysis which explicitly addresses the set issues. The presentation should be informative, easy to follow, supported by appropriate visual aides and delivered in an interesting and clear manner. Students should be able to demonstrate the extent of their research and knowledge of the set topic in both the presentation and the question and discussion session which will follow.

Teaching and Learning Strategy and Methods

Lectures will be use to impart the key concepts, issues, definitions and characteristics as well as some of the key facts appertaining to the module. The direct learning component will build upon and expand the lecture material. The seminars will be used to evaluate the direct learning component and to provide opportunity for discussion, questions and feedback. A comprehensive reading list will be provided including many key Internet sources. Handouts and case studies will be provided and there will be a moderate use of videos.

Indicative Content

• Definitions and characteristics of emerging markets
• Methods of evaluating emerging markets; macro economic analysis, country and political risk analysis.
• Evaluating emerging markets and identifying market opportunities
• The operations of the key institutions, WTO, IMF, IBRD etc.
• Environmental degradation.
• The Debt Crises.
• Development models; export promotion, import substitution, transition models etc.
• The main Regional Blocks of which emerging markets are members and the pros and cons.
• How to do business in some key emerging markets, entry methods, the business environment etc.
• Current issues: the post-Asian Pacific Rim crises, conflict in Africa, the current developments in Central and Eastern Europe and Central and Latin America.

Indicative Reading List Key texts will include:

Allen & Thomas, Poverty and Development into the 21st Century, Oxford, 2000.

Meier & Ranch, Leading Issues in Economic Development, 7th edition, Oxford, 2000.

Human Development Report 2000, UNDP, 2000.

Glyfason, Principles of Economic Growth, Oxford, 2000.

Mobus, On Emerging Markets, FT Pitman, 1996.

Key web sites will include:

2000 Country Reports on Economic Policy and Trade Practices

www.state.gov//www/issues/e

World Bank Reports: www.worldbank.org/html

IMF Reports: www. imf.org/external

Country Profiles from CD ROM in the Adsetts Centre.