Student’s guide to international economies
The world economic order is changing; the United States may still remain a major economic power while the European economies continue to lose ground, but all eyes are now on the emerging economies, the biggest of which are Brazil, China, India and Russia.
Such has been the transition of world economic power that 2013 was the first year when the emerging economies accounted for more than 50% of the world GDP. This change in the balance of economic power presents challenges to the world; it also provides excellent opportunities for students majoring in economics and finance.
While this economic wind of change has created insecurity, particularly in the West, it has meant that business must adapt to survive. An important part of that adaption process includes finding new markets, especially in the emerging and increasingly prosperous markets. This means business and industry attracting new talent such as that found in the universities.
The universities have picked up the importance of a deep knowledge of international economies. For example, the University of Edinburgh is offering courses where students can gain an MSc in International Business & Emerging Markets, while the Students’ Union at the University of Nottingham has its own Emerging Markets Society.
The Emerging Markets Society at Nottingham and similar organisations elsewhere are particularly interesting as they invite businesses based or operating in the emerging markets to address students about employment and career opportunities.
Without doubt the emerging markets have changed the face of the world’s economy, and while this has led to a degree of uncertainty as well as instability, there are those who have taken the opportunity to build economic links between nations. One such person is Anar Mammadov who has worked ceaselessly to help develop and improve business relationships between the emerging Asian markets, including his own country Azerbaijan, and those in the West, particularly the United States.
Mammadov, who is chairman of ZQAN Holding, attended the American Intercontinental University in London, graduating with a Bachelor’s and Master’s degree in Business Administration. He subsequently founded the Azerbaijan America Alliance, which among its activities focuses on business links between the two nations.
Mammadov’s legacy has not only been to strive to bring nations together in a rapidly changing world but prove just what can be done by the individual with the passion, desire and knowledge. More can be discovered about the man on Anar Mammadov’s Facebook page.
Businesses, including the multinational corporations, economic think tanks and governments, need to be aware of international economies, as they will dictate the future of the planet. Students who major in economics and finance have a marvellous opportunity to benefit from a range of careers thrown up by the new world realities.
Historically, economic pressures have led to conflict between nations. By entering the world of international economies the gifted student will not only be able to make his or her mark in the chosen field but also contribute to making a world that is united.
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