MO2ODL Micro Teaching Session James Silverwood What are…

Learning Objectives To develop our knowledge of the concept of Emerging Markets and the types of countries associated with the term. To explore the controversies associated with the concept of Emerging Markets.

Word Association 1 minute Individual task Word associate with the term emerging markets Write whatever words or phrases that come into your head.

Where does the term emerging market come from? The term emerging markets was originally coined in 1981 at in investment conference in Thailand by World Bank Economist Antoine W. van Agtmael. “Emerging markets are countries which are in a transition phase from developing to developed markets due to rapid growth and industrialisation. Hence markets which have (a) started an economic reform process aimed at alleviating problems, for example of poverty, poor infrastructure and overpopulation, (b) achieved a steady growth of gross national product per capita (GDP), and (c) increased integration in the global economy, may truly be called emerging markets” (Cavusgil, Ghauri & Akcal, 2013: 5)

Small Group Work 2 minutes Groups of Two Discuss, think and list countries in the global economy that you think may fit this definition of an emerging market.

List of Emerging Markets

Controversy Lots of controversy, both academic and political, related to the concept of emerging markets. Lots of disagreement about how to define an emerging market and many different definitions exist. Controversy about which countries are and are not labelled as an emerging market

Summary In this micro-teach session we have sought to develop our knowledge of the concept of Emerging Markets and the types of countries associated with the term and explore the controversies associated with the concept of Emerging Markets. In order to do so, we have looked at the background behind the concept and a key academic definition. We then progressed to discuss some of the controversies, which include the failure to provide a definitive definition of the concept and the problems associated with identifying different countries/economies as an emerging market. Thank you for your time.

Sources Cavusgil, S.T., Ghauri, P.N. & Akcal, A.A. (2013) Doing Business in Emerging Markets (3rd edition), London: Sage.