Master Emerging and Frontier Markets
EENI - Business School.
Master in Business in Emerging and Frontier Markets (e-learning)
The Master in Business in Emerging and Frontier Markets (120 ECTS, 20
months, e-learning) is designed to offer a global and practical
vision of the main emerging and frontier markets (FM) in the world.
The Master analyses thirty-two emerging and frontier (pre-emergent) markets from:
- Africa (11 countries): Ivory Coast, Ghana, Nigeria, Ethiopia, Kenya, Uganda, Tanzania, Angola, Zambia, Morocco, and Algeria. All of them considered frontier markets. Nigeria is the first world's frontier market.
- Middle East (2 countries). Kuwait and the United Arab Emirates (FM)
- America (5 countries). Argentina (FM), Chile, Colombia, Ecuador, and Peru.
- Asia (12 countries). Iran, Kazakhstan (FM), Pakistan (FM), the Philippines, Indonesia, Malaysia, Singapore, Thailand, Vietnam (FM), Bangladesh, South Korea, and Taiwan
- Europe (2 countries). Serbia and Turkey.
To finalise the Master, the student must write a thesis
related to emerging or frontier markets.
Modules of the Master in Business in Emerging and Frontier Markets:
Note: BRICS Countries (Brazil, Russia, India, China, and South Africa), Nigeria, Mexico, and Saudi Arabia are not analysed in this Master but the
Master in Business in the BRICS-MNS Countries
Request for information of the Master
About Emerging and Frontier Markets/BRICS (CIVETS, Next Eleven, MIST, Big Emerging Market, EAGLEs, NEST)
The language of the Master in Business in Emerging and Frontier Markets:
. Also, available in Master Emergents
Master Emergentes Master Emergentes.
The materials are available in four languages: English, Spanish, French or Portuguese and are accessible to all students wishing to review them in whatever language and use one of the three languages as a vehicular language of the campus and to complete the exercises.
- Credits of the Master: 120 /60
- The duration of the Master is 19 months long.
- Tuition fees of the Master: 3,547 Euros.
- EENI Scholarships for African and Asian Student: 40% (EENI Ahimsa Vision “Education for All”).
Fees for these students: 2,128 Euros
- Consult scholarships for other regions (Latin America, Europe, the Middle East)
Download the syllabus of the Master in Business in Emerging and Frontier Markets (PDF)
Diploma of the Master in Business in Emerging and Frontier Markets.
Students who complete all exercises, and thesis will obtain the master degree diploma issued by EENI:
- Students with a bachelor's degree: “Diploma of Master in BEmerging and Frontier Markets” (In this case; it will be necessary to send us a certified copy of the University Diploma)
- Students without a bachelor's degree and no experience in international
business: “Advanced Diploma in Business in Emerging and Frontier Markets.”
Graduate students in this Master can enrol directly on the:
- Doctorate in International Business specialisation Africa
- Doctorate in International Business specialisation America
- Doctorate in International Business specialisation Asia
. Moreover, they need complete only the research methodology module, Thesis, and others modules not studied in this Master.
Master intended for all those wanting to specialise in international business with Emerging and Frontier Markets.
The Master is recommended for people with experience in international trade and marketing.
- Career opportunities
- Master in Business in Emerging and Frontier Markets
e-learning/Distance Learning. Case method.
EENI (The Global Business School) has more than 4,000 students from over 100 countries.
Video Master in Emerging Markets
Some of the largest emerging countries:
Modules and subjects of the Master in Business in Emerging
and Frontier Markets:
NOTE: Brackets show
Modulo 1- Introduction to frontier markets and emerging countries
- Emerging and Frontier Markets
Module 2- African frontier and emerging markets
- African Frontier Markets [0.3]
- Africa: Next Emerging Continent
- Africa-BRICS (Brazil, Russia, India, China, and South Africa) Cooperation [0.3]
- West African Economic Area 
- Ivory Coast 
- Ghana 
- Nigeria 
- Economic Community of West African States (ECOWAS) 
- West African Economic and Monetary Union (WAEMU) 
- West African Monetary Zone (WAMZ)
- Niger Basin Authority [0.1]
- Logistics in West Africa [1.5]
Download the module syllabus: “West Africa” (PDF)
- East African Economic Area 
- Ethiopia 
- Kenya 
- Tanzania 
- Uganda 
- Common Market for Eastern and Southern Africa (COMESA) 
- East African Community (EAC) [0.5]
- Intergovernmental Authority on Development (IGAD) [0.1]
- Tripartite FTA COMESA-EAC-SADC [0.1]
- Nile Basin Initiative
- Indian-Ocean Rim Association (IORA) [0.5]
- Logistics in East Africa
Download the module syllabus “Eastern Africa” (PDF)
- Central African Economic Area 
- Angola 
- Economic Community of Central African States (ECCAS) [0.5]
- Logistics in Central Africa
Download the syllabus “Central Africa” (PDF)
- Southern African Economic Area 
- Zambia 
- Southern African Development Community (SADC) [1.1]
- Logistics in Southern Africa
Download the syllabus “Southern Africa” (PDF)
- Maghrebian Economic Area 
- Morocco 
- Algeria 
- Arab Maghreb Union (AMU) [0.7]
- Logistics in the Maghreb
Download the syllabus “Maghreb” (PDF)
Module 3- Emerging and Frontiers markets of the Middle East:
- Arab Economic Area 
- Kuwait 
- United Arab
- Cooperation Council for the Arab States of the Gulf (GCC) [1,2]
- Organisation of Islamic Cooperation (OIC)
- Trade Preferential System (TPS-OIC)
Download the syllabus “Middle East” (PDF)
Module 4- Latin American Emerging and Frontier Markets
- Latin American
Economic Area 
- Argentina 
- Chile 
- Colombia 
- Ecuador 
- Peru 
- MERCOSUR 
- Andean Community 
- Pacific Alliance [0.1]
- Asia-Pacific Economic Cooperation (APEC) 
American Integration Association (ALADI) 
- Latin American and Caribbean Economic System (SELA) [0.3]
- Union of South American Nations (UNASUR) [0.5]
- Bolivarian Alternative for the Americas (ALBA) [0.3]
Partnership Agreement (TPP)
- Download the syllabus in PDF: South
America,” Andean Markets.”
Module 5- Asian Emerging and Frontiers Markets
Central Eurasian Economic Area 
- Iran 
- Kazakhstan 
- Pakistan 
- Economic Cooperation
Organisation (ECO) [0.1]
- Asian Clearing Union (ACU) [0.1]
- Shanghai Cooperation Organisation (SCO) [0.1]
- Commonwealth of Independent States (CIS) [0.4]
- Eurasian Economic Community (EurAsEC) [0.5]
- Eurasian Economic Union (EEU) [0.2]
- South Asian Association for Regional Cooperation (SAARC) [0.1]
- Central Asia Regional Economic Cooperation (CAREC) Programme
Download the syllabus “Central Asia” (PDF)
- Philippines 
- Indonesia 
- Malaysia 
- Singapore 
- Thailand 
- Vietnam 
- Association of South-East Asian Nations (ASEAN) 
- Buddhist  and Malay economic areas
Download the module syllabus: “ASEAN markets” - Buddhist Economic Area” (PDF)
Other Asian emerging countries
- Bangladesh 
- South Korea 
- Africa-Korea Partnership [0.1]
- Taiwan 
- Bay of Bengal Initiative (BIMSTEC) [0.1]
- Asia-Pacific Trade Agreement (APTA)
- South Asia Subregional Economic
Cooperation (SASEC) [0.1]
Download the module syllabus: “Other Asian
Module 6- European Emerging Markets
- Serbia 
- Turkey 
- Turkic Council [0.1]
- Africa-Turkey [0.1]
- Regional Organisation for Democracy and Economic Development (GUAM) [0.2]
- Central European Free Trade Agreement (CEFTA) [0.5]
- Black Sea Economic Cooperation (BSEC) [0.1]
Thesis of the Master in Business in Emerging and Frontier Markets (8 ECTS)
For the successful completion of the Master in Business in Emerging and Frontier Markets, students must submit a Thesis.
The dissertation (thesis) is conceived as an exam that tests the ability of synthesis of the student to develop a particular subject (between 30 to 50 pages) related to Emerging and/or Frontier Markets.
The Dissertation (thesis) aims the student to demonstrate their theoretical and practical knowledge about Business in Emerging and/or Frontier Markets and/or their economic areas. The topic is chosen by the student with the support of his professor and must be related to the contents of the Master.
For students who are working in an exporting company; we recommend writing the dissertation on the elaboration of an international marketing
plan for one Emerging and/or Frontier Markets.
Some examples of theses of the Master:
- International Marketing plan for Asian Emerging Markets
- International Marketing plan for African Frontier Markets
- Investment project in Nigeria (Thailand, Algeria, Indonesia)
- SWOT analysis of the company X in American emerging
- Trade Relations between emerging markets
- Relations between emerging countries and the BRICS
- Nigeria and BRICS Countries
- International Promotion strategies for Thailand (Colombia, Ivory Coast, Serbia, Turkey)
- Opening a branch in… (Abidjan, Jakarta, Luanda, Buenos Aires)
The Master focuses on analysing for each of these countries:
1. Country information: how to do business, international trade, investment flows (FDI), transport and logistics, customs, Free Trade Agreements (FTAs), and regional economic organisations.
2. Economic Area. Each of these countries tends to be one of the main economies in the economic zone to which it belongs:
African economic area. The African economic area has eleven
frontier markets located in several economic areas:
- Economic Area of West Africa. Nigeria is Africa's largest economy. Both Ghana and Ivory Coast are two frontier markets and fast-growing economies.
- Economic Area of Central Africa. Angola, the largest regional economic power with huge petroleum resources, is considered an
African frontier market.
- Economic Area of Southern Africa. Zambia, the largest exporter of copper and cobalt in Africa, is also a frontier market.
- Economic Area of East Africa. There are four frontier markets in East Africa: Ethiopia (headquarters of the African
Union), Kenya (the largest regional economy), Uganda (strong economic
growth, in particular of the information technologies), and Tanzania (exporter of gold, coffee, cotton)
- Economic Area of the Maghreb. Both Algeria (half of the African petroleum production) and Morocco (strategic location:
Europe-Maghreb- Sub-Saharan Africa) are also considered frontiers markets
Arab economic area. In the Middle East, Kuwait (significant petroleum reserve and investments abroad) and the United Arab Emirates (with a
GDP per capita similar to European countries) are considered frontier markets.
Latin American economic area. In South America, Argentina is considered a frontier market and Chile as an emerging market. In the Andean region, Colombia (the fourth Latin American economy and strong growth
in FDI), Ecuador (the eighth Latin American economy, substantial petroleum resources) and Peru (highly consolidated food industry, open towards the Asia-Pacific region) are considered emerging markets.
Asian economic space. Three frontier markets and nine emerging
markets are analysed in the Master:
- Eurasian Economic Area: Both Kazakhstan (strategic
location between Russia, China, and India-Silk Road, substantial petroleum resources) and Pakistan (textile and automotive sectors, regional
leader in Central Asia, high political uncertainty) are considered frontier markets, while Iran (economic and political leader of Shi’a
Islam, process of opening to the West) and Bangladesh (strategic
position India-China-ASEAN, important textile sector) are considered emerging markets.
- ASEAN. In the region of the Association of South-East Asian Nations (ASEAN) only exist one frontier market: Vietnam (economic reforms, 21st world's largest economy in 2025) and five emerging markets: the Philippines (one of the world's fastest growing economies in Asia and the only Asian country with a Catholic majority), Indonesia (the country with the largest Muslim population in the world, one of the biggest economies in South-east Asia), Malaysia (an
economy based on the export of the manufactured goods and one of the most competitive countries in the world), Singapore (the second most competitive economy in the world, one of the least corrupt countries, large presence of multinational) and Thailand (important automotive sector, electronics, appliances, health. Strategic
location to access the region Greater Mekong and South-east Asia)
- Buddhist Economic Area. Furthermore, two countries with
Buddhist majorities: South Korea (the thirteenth world economy and fourth in Asia, world leader in shipbuilding, semiconductors, construction, electronics, automotive) and Taiwan (the seventeenth
largest economy, third currency reserves in the world, 69% of Taiwan's GDP is generated by services, stabilisation of relations with the People's Republic of China) are considered as emerging
European Economic Area. Both Serbia (Orthodox economic space, privileged location between Europe and Asia) and Turkey (the Customs Union
with the European Union, strong industrial production. In 2023, the Turkish
agricultural sector will be one of the top five global producers. Access to the Central Asian markets) are considered as emerging markets. Both
countries have requested access to the European Union.
For each of these economic areas the features of each of the nations that comprise it, its economic relations with other countries of their economic space, as well as the largest economic
integration agreement and organisations will be discussed.
The Master in Business in Emerging and Frontier Markets includes the tool “Market Access”:
Samples of the Master in Emerging Markets and BRICS Countries.