Course Contents
• Nature and need of Islamic Economics.
• Fundamentals features of Islamic Economic System.
• Islamic Economic System vs Capitalism and Socialism.
• Theory of consumer’s behavior in an Islamic Society.
• A Behavioral Model of a Muslim Consumer.
• Theory of Firm’s Behavior in an Islamic Society.
• Redistributive Measures in an Islamic Economy (Legal and Optional Measures).
• Prohibition of Interest and Interest- free Banking in Islam.
• Fiscal Policy.
• Islam and Economic Development.
Course Synopsis
The objective of this course is to:
• provide the students a good understanding about the basic concepts of economics in light of Islamic teachings.
• providing understanding about behavior of economic participants by drawing light on need and nature of Islamic economics.
• help students to differentiate between Islamic economic system and capitalism and socialism
Course Learning Outcomes
After completing the course, the students should be able to:
• take economic decision in the light of Islamic teachings.
• understand the economic behaviors under the Islamic economics and also able to compare the other market structures with Islamic structure.
Islamic economic system vs other economic systems
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fiscal policy in Islamic Economy
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Issues, Problems and Strategy: Riba
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Redistribution in an Islamic economic system
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Islamic Economics
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Nature & Need of Islamic economics, Fundamental features of Islamic economic system
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Islamic economic system versus Capitalism and Socialism
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Islamic economic system vs other economic systems
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Theory of consumer behavior in an Islamic society
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Equilibrium of Muslim consumer
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Equilibrium of Muslim consumer
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Theory of firm’s behavior in Islamic society
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Prohibition of interest and interest free banking in Islam
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Modarbah (Partnership) and its conditions
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Sharakat(Partnership) and its conditions
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Alternatives of Riba. (Sharakat and Modarabah)
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fiscal policy in Islamic Economy
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Fiscal policy
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Fiscal policy
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Islam and Economic Development
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Book Title : Islamic Economics
Author : Prof. Abdul Hameed Dar and Prof. Mian Muhammad Akram
Edition : latest
Publisher : Ilmi Kitab Khana
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