Short Term Study Abroad Program in Kuwait Mohammed Akacem Professor of Economics Metropolitan State College of Denver & Research Associate, IBS, University of Colorado Boulder 1

Study Abroad program at CU Boulder: Source: CU’s Study Abroad program, CU Boulder Top 10 Study Abroad Locations at CU-Boulder: 1. Spain 2. Italy 3. Worldwide (Semester at Sea) 4. Australia 5. England 6. France 7. New Zealand 8. China 9. Czech Republic 10. Japan 2

Top 10 Majors 1. International Affairs 2. Psychology 3. Finance 4. Political Science 5. Anthropology 6. Spanish 7. Communications 8. Marketing 9. Sociology 10. Fine Arts/Studio Arts 3

Current CU-Boulder Faculty-Led Short-Term Study Abroad Programs 1. 19th and 20th Century French Art in Paris, France 2. Contemporary Nordic Culture & Society in Iceland 3. Excavations & Field School at Villa of Maxentius in Rome, Italy 4. Economy, Politics and Society in the Middle East in Kuwait 5. Film and the French Aesthetic in Paris, France/ Film and the Italian Aesthetic in Rome, Italy 6. London Finance Seminar in England 7. Reconciliation & Diversity in the 21st Century: The South African Model in Cape Town & Johannesburg, South Africa 8. Rome Humanities Summer Program in Rome, Italy 9. Self-Awareness and Images of the Other in Xi'an,China 10. St. Petersburg Russian Language & Culture in St. Petersburg, Russia 4

The Basics 260+ CU-Boulder study abroad programs Over 65 countries (Europe, Asia, Africa, Latin America, Oceania) Programs available for all majors Over 1000 students study on CU-Boulder programs annually 5

When to go? All programs have class standing requirements – Most programs will allow 2 nd -semester sophomores, but some require junior standing – A few programs will allow students to attend the summer after freshman year Most students go during junior year, but many also go as sophomores or even seniors Students should go when it fits best with their schedule 6

The new Kuwait program This new program puts the emphasis on the short term- two weeks to three weeks December 2009 will be our first trip We may try a Maymester – between end of spring and the start of summer Weather in the Middle East and North Africa may be an issue 7

How much does it cost? Wide range of program costs One rough estimate at this time is: $2,500 dollars including airfare That will change depending on how many students participate Three weeks in Rome program is around $2,400 without airfare Pay a program fee based on the actual costs of the program (not CU- Boulder tuition) Visit for exact program fees and estimated additional costswww.colorado.edu/oie 8

Financial assistance Can use CU-Boulder financial aid Can apply for CU-Boulder study abroad scholarship Other scholarships through program providers Government organizations CU departments Private foundations 9

The MENA region: Where to have a study program? 10

Source: polity.com 11

The state of Islam 12

Why Kuwait? A small country Parliamentary system Diwaniya Unique in the Arab world Ambassadors attend these as well Oil economy Rich trading history From Pearl to oil Many contacts US educated Open society More importantly: we have a first rate contact/provider in Kuwait 13

How did the Kuwait program came to be? Outgrowth of the Political Economy of my Middle East course Class instructions on a region as diverse as the Middle East is not enough On the ground experience with culture, tradition, economy and business is a must Given the many contacts in Kuwait and former colleagues working there, Kuwait was an easy choice Kuwait has already established itself in the world of finance through its sovereign wealth fund foreignSWF08.html foreignSWF08.html 14

Visits and lectures: Stock Market Visit To Banks and various funds Kuwait Sovereign Wealth Fund Central bank of Kuwait Discussion and guest lectures on Kuwait foreign investment strategy Kuwait’s approach to exchange rate policy Has Kuwait suffered from the resource curse? What did Kuwait do differently from the other oil producers? 15

Visits of Islamic banking and Finance institutions The Kuwait Finance House One of the largest Islamic banks The International Investor Guest lectures in both institutions What is Islamic banking and finance? Similarities and differences with traditional banking Why has not the Middle East/Islamic banks suffered as much as the Western banks during this global credit crisis? Shock absorbing qualities of IS banking Students will have read assigned readings prior to the trip to prepare them for these and other lectures 16

Visit and lectures: Kuwait Fund for Development Discuss Kuwait foreign aid policy Kuwait Oil Company Oil and the world economy issues OPEC, quotas and oil price scenarios Kuwait and OPEC politics Kuwait and Gulf oil politics GOPEC 17

Visit and lectures: continued Attend Parliament session Meet with some members Lecture on Kuwait and Gulf politics Regional political economy Visit Women Cultural society Visit the Scientific Center Social security office 18

Visit and lectures: end Kuwait University A number of lectures by faculty in and outside the business school All faculty US educated Familiar with US education and the Middle East Visit the Big Mosque Fishing Trip / Desert Trip Salmeen Diwania What is a Diwania? Meeting room rented at the Hotel in Kuwait Daily de-briefing with the students 19

Women in Kuwait: defying the stereotypes Dr. Massouma Al-Mubarak, minister of planning The first woman appointed to a cabinet level post Minister of planning Professor of political Science One of the people that will give a lecture to the CU students during our first visit to Kuwait 20

Kuwaiti women getting the right to vote and stand for office Students will meet a number of Kuwaiti women professionals, politicians, and students Kuwait is by far ahead of many in the Arab world when it comes to women’s rights 21

Contact hours before, during and after completion of the trip Grand Total: 67 Hours (before the trip, on site and after) Course Assessment: Students will be evaluated on the following: Level of participation during site visits, meetings and lectures Brief analytical summary of the trip after it is completed What did students learn, how consistent was the experience and knowledge gained with the readings A paper that covers some aspects of Economics, Business, Politics and Society in the Middle East 22

What next? A post Kuwait trip assessment will be made University committee wants the trip to take place on an annual basis Next country: Saudi Arabia Later, other countries in the Gulf 23