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Political Economy Assignment

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The requested essay will be an answer for two questions, 1000 words/more for each answer, Including
Citations and references (Harvard) and free of plagiarism ( Turnitin report will be reviewed)
General guidelines for the answer:
• Develop arguments based on theory and policy outcomes
• Please mention at least 8/more references from the below references list for every question separately
• USE Subheadings for each answer
• use examples from Middle Eastern countries to support arguments made ( Second question should related to
the case of EGYPT) – Below reference are covering
• Put your own voice and analytical eye in the driving seat: this should help you to organise the literature you
are quoting and arrive at an overall answer to the essay question
• Identification of key aspects of an issue or question
• Independent and critical assessment of a range of knowledge. Developing and supporting arguments using
theory/analytical frameworks, policy, and evidence
1) Is OPEC power a constant, diminishing, and/or a changing element of oil markets? Discuss
focusing on oil market conditions from the 1980s until the 2010s.
Apicorp Research (2012) Fiscal Break-Even Prices Revisited, Vol 7 No.8-9, September.
Danielsen, A L (1982), “The evolution of OPEC control”, Chapter 6, The Evolution of OPEC,
New York: HBJ Publishers.
Fattouh, B, (2011), “The oil price formation process: issues and implications”, Seminar,
Oxford Institute for Energy Studies, September 2011

  • Fattouh, B. (2013), OPEC What difference has it made?, MEP 3, Oxford Institute for Energy
  • Griffin, J M and D J Teece, (1982), Introduction, OPEC Behaviour and World Oil Prices,
    London: Allen & Unwin.
    Griffin, J and William S. Neilson (1994), ‘The 1985-86 Oil Price Collapse and Afterwards:
    What Does Game Theory Add?” Economic Inquiry, October, pp. 543-561.
    Hotelling, H. (1931), The Economics of Exhaustible Resources, Journal of Political Economy,
    vol 39, pp 137-75.
    Hoyos, Carola (11 March 2007). “The new Seven Sisters: oil and gas giants dwarf western
    rivals”. Financial Times. Retrieved 20/10/ 2013.,
    Issawi, C (1982), An Economic History of the Middle East and North Africa, New York:
    Columbia University Press, especially Chapter 10,
    Johnston, D. (2007), ‘How to Evaluate the Fiscal Terms of Oil Contracts’, in M. Humphreys, J.D.
    Sachs & J. E. Stiglitz (eds.), Escaping The Resource Curse, Ch.3 pp.52-88, Columbia
    University Press: New York.
    Kaufmann, R.K, S. Dees, P. Karadeloglou, and M. Sanchez, (2004), ‘Does OPEC matter? An
    econometric analysis of oil prices’ The Energy Journal 25(4):67-90.
  • Krautkraemer, J., and M.Toman (2003), “Fundamental economics of depletable energy
    supply”, Discussion Paper 03-01, Resources for the Future Institute (,
    Washington D.C..
    Oxford Institute for Energy Study (2020) COVID and the Energy Transition, Energy Forum
    No.123,, Oxford, July,
    Salehi-Isfahani, D. (1995) “Models of the Oil Market Revisited”. Journal of Energy Literature,
    1(1): 3-21.
    , US Senate (1952), International Petroleum Cartel, Staff Report to the Federal Trade
    Commission 83d Cong., 2nd sess released through Subcommittee on Monopoly of Select
    Committee on Small Business, (Washington, DC, 1952), Chapter 2, “Concentration of
    Control of the World Petroleum Industry,” pp. 21-36.
    1) Powerful interventionist states with large public sectors in the Middle East grew out of the
    need to promote structural transformation. However, the feasibility of this process is now
    called into question’. Discuss, with reference to the experience of at least one country in the
    Middle East.
    Ayubi, N. ‘Etatism Versus Privatization: The Changing Economic Role of the State in Nine Arab
    Countries’, in Handoussa H. (ed.), Economic Transition in the Middle East: Global Challenges
    and Adjustment Strategies, Ch.7, pp.125-166, Cairo: The AUC Press.
    Achy, Lahcen (2013), Structural Transformation And Industrial Policy In Morocco, ERF, Working
    Paper 796, November, Economic Research Forum, Cairo
    Adaman, F. and M. Sertel, ‘The Changing Role of the State from a Turkish Perspective’, in H.
    Handoussa (ed.), op.cit., Ch.10, pp.219-260.
    Ben Ali, D ‘Economic Adjustment and Political Liberalization in Morocco’, in H. Handoussa (ed.),
    op.cit., Ch.9, pp.183-218.
    Beblawi, H, and Giacomo Luciani, The Rentier State, Taylor & Francis Group, 2015. ProQuest
    Ebook Central, ebooks/detail.action?docID=3569802
  • Cammett, Melani, et al. A Political Economy of the Middle East, Taylor & Francis Group, 2013.
    ProQuest Ebook Central,, CHAPTER 7
    Elbadawi, I., and A., Gelb (December 2010), Oil, Economic Diversification and Development in
    the Arab World, ERF Policy Research Report No.35
    Handoussa, Heba, (1997), Economic Transition in the Middle East: Global Challenges and
    Adjustment Strategies, The American University in Cairo Press.
  • Karshenas, M. (2001) ‘Structural Obstacles to Economic Adjustment in the MENA Region: The
    International Trade Aspects’, in H. Hakimian and Z. Moshaver (eds.), The State and Global
    Change: the Political Economy of Transition in the Middle East and North Africa, ch.3, pp.59-
    80, Surry: Curzon PressMabro, R and Radwan, S (1976), The Industrialization of Egypt 1939-
    73, Policy and Performance, Oxford: Clarendon Press.
  • Said, M., H. Chang and K Sakr (1997) ‘Industrial Policy and the Role of the State in Egypt:
    Lessons from the East Asian Experience’, in H. Handoussa (ed.) Economic Transition in the
    Middle East: Global Challenges and Adjustment Strategies, The AUC Press.
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