Objective: This course aims to introduce the basic features as well as the emerging economic trends and ideas in West Asia, taking into account the growing populations, unemployment, diversification of oil revenues and the emergence of Islamic finance. It also focuses on the the main features of India-Gulf economic and energy relations since 1990s.

Course Content:

Unit-1 West Asian Economies

• Main Features of the Economies; Rentier Economy,
• Oil & Non-Oil Sectors Development
• Growing Population, Unemployment and Dependence on Foreign Labors

Unit-2 Gulf Oil & Gas in the International Market

• New Demand and Supply Scenarios
• OAPEC and Global Energy Market
• Foreign Participation in Gulf’s Energy Sector

Unit-3 Oil Revenues and Its Impact On Arab Economies

• Remittances, Aids and Tourism
• Emergence of Islamic Finance
• Regional Diversification of Funds

Unit-4 Regional Economic Integration

• Economic and Financial Integration
• Via Service Sector
• Via Trade Sector

Unit-5 India GCC Economic Linkages Since 1990s

• Emerging Trends in Indo-Arab Economic Relations
• Energy Cooperation and Investments
• Role of Indian Expatriates in the Gulf region