Smith Experience Abroad: 2011-12

Doing Business in Singapore and Malaysia: Islamic Finance

Fall term one-credit BUSI788Y and Winter term two-credit BUSI798Y

Cities Singapore and Kuala Lumpur, Malaysia
Faculty Dr. Hassan Ibrahim
Dates Abroad Depart US January 13, 2012 (Arrive Singapore January 14, 2012)
Depart Kuala Lumpur, Malaysia January 22, 2012 (Arrive US January 22, 2012). January 13-14th and January 22nd are both travel days and there are no course activities planned.
Mandatory BUSI788 pre-departure meetings First pre-departure meeting: Sunday October 23 at 12 noon - 4 PM, in C2 at the DC Campus (Ronald Reagan Building)
Second pre-departure meeting: Sunday Nov. 13 at 12 noon - 4 PM, in 1505 Van Munching Hall, CP
How to Register Register on Testudo for Fall BUSI788Y section BA01 at the same time as your other fall courses. You will automatically be registered for the associated two-credit course abroad.

With its beautiful cityscape and ubiquitous symbols of modernity, Singapore is of increasing interest to American businesses. Singapore has no substantial natural resources, but today its per capita income is just below U.S. levels, due to high-end manufacturing, services and export activities. The country’s economy grew last year at 14.7 percent, led in large part by biomedical exports.

Like America, Singapore has a multiethnic population — Chinese, Indian and Malay, and is ranked in the top three by Transparency International for least-corrupt governments; by all measures Singapore places high importance on governance – their politicians tend to make salaries competitive with private enterprise. Singapore may have the freest market in the world; there are no import tariffs, and no social nets of minimum wage requirements or even unemployment insurance. However, the country underscores its values by providing free education through university level.

Malaysia is focused on making sure it achieves its long-established 2020 self-imposed deadline of being a developed country. A critical part of this plan is to prevent brain drain to Singapore. Malaysia hopes to be able to provide the same educational and professional opportunities it sees in its neighbor.

Multinational and local companies worry about a shortage of skilled labor in Malaysia, and economists agree this shortage substantially affects the country’s ability to attract more high-technology industries. The government is acutely aware of the shortage in skills and working to eliminate this constraint.

This class will also examine life and business operations in Muslim countries, and students will learn about Islamic Finance and financial institutions. 

Note:
In-country travel is expected to be about $150.
There is a $500 penalty if you drop the course after October 31st.
Please do not purchase any airline tickets until enrollment for the class is confirmed through Blackboard, around September 15th. Students are advised by UMD Education Abroad to purchase refundable airline tickets.
Program fee is $3000 plus three credits tuition (total for BUSI788 and BUSI798), which includes shared hotel room, local transportation to company visits and required cultural activities, any tickets or fees for required cultural activities, 1-2 group meals, and professor and partner fees. There is an additional $250 study abroad fee which goes directly to the campus office to maintain the emergency plan.