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Class 1 - Introduction The Foundation of Islamic Economics

This document provides an introduction and outline for a course on the foundations of Islamic economics. The course objectives are to introduce students to Islamic economics as an emerging discipline, explain how Islam provides solutions to basic economic problems, and explore fundamental issues related to principles, development and prospects of Islamic economics. The course will be taught through lectures, group discussions, class presentations, debates and assignments. Students will be divided into groups to present on topics from the course outline, and will also complete individual essays comparing Islamic and conventional economic perspectives on important topics. The course will be graded based on participation, assignments, exams and a final exam. The course outline lists 13 topics that will be covered, ranging from the foundations and theories of Islamic economics to prohibited transactions

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Bayu Murti
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277 views22 pages

Class 1 - Introduction The Foundation of Islamic Economics

This document provides an introduction and outline for a course on the foundations of Islamic economics. The course objectives are to introduce students to Islamic economics as an emerging discipline, explain how Islam provides solutions to basic economic problems, and explore fundamental issues related to principles, development and prospects of Islamic economics. The course will be taught through lectures, group discussions, class presentations, debates and assignments. Students will be divided into groups to present on topics from the course outline, and will also complete individual essays comparing Islamic and conventional economic perspectives on important topics. The course will be graded based on participation, assignments, exams and a final exam. The course outline lists 13 topics that will be covered, ranging from the foundations and theories of Islamic economics to prohibited transactions

Uploaded by

Bayu Murti
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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INTRODUCTION

THE FOUNDATION OF ISLAMIC ECONOMICS


Lecturer: Nuruddin Mhd Ali, MA, M.Sc

Objectives
1.

to introduce the students to the newly emerged discipline of Islamic economics


to explain how Islam as a religion provides solution to the basic economic problem as faced by human beings to explores some fundamental issues related to Islamic economics. It will discuss Islamic economics from its background, principles, development and prospects

2.

3.

Teaching Methodology
1. Lecturer 2. Group Discussion 4. Paper Research Field Research on Industry

3. Class Presentation 5. Issues Debate

Assignment
(Groups Assignment)

The students will be divided into groups which consist of 2 - 5 students. Each group should prepare to presentation on subtopics as listed in the course outline below.
(Individual Assignment)

Each student should write article on essay design (2500 Words) about crucial and urgent topics on economics in two perspective (Islamic and Conventional)

Grading Scheme
Extra Participation = 10%
Quality Assignment = 20%

Good Mid-Term Exam = 30%


Excellently Final Exam = 40%

Topic List (1)


The Foundation of Islamic Economics

Islamic Way of Life


Islamic Economics; Definition & Methodology

Topic List (2)


Islamic Economic Thought

Classical
Middle age Modern Islamic economic school of thought

Topic List (3)


Positioning of Islamic Economics

the history of world economic system


mainstream of economic system (capitalism, socialism, welfare state)

Critiques on world economic system


Islamic solution

Topic List (4)


Prohibited Transaction of Islam

The history of money


Critiques on interest Riba in Islam Definition of gharar and maysir Modern application of gharar and maysir

Why we should avoid them?


Islamic solution

Topic List (5)


Partnership and Profit-Loss Sharing (PLS)

Partnership in economic theory


Theory of profit-loss sharing Applications in banking and finance

Topic List (6)


Islamic Theory of Consumption

Theory of consumption
Implication on economy Islamic teachings on consumption The implication on economy

Topic List (7)


Islamic Theory of Firm

Some theories of firm


Critiques on corporate behavior Good corporate governance Corporate social responsibility

Topic List (8)


Poverty Alleviation an Islamic Perspective

Introduction to Islamic fiscal policy


Introducing zakah, background, change, and development Economic development and poverty eradication Zakah role in poverty eradication

Topic List (9)


Islamic Wealth Management

Earning income in Islamic perspective


Wealth management in Islam Islamic Financial planning (household consumption, insurance, pension fund, saving, investment, zakah)

Topic List (10)


Waqaf

Background, law, history, and development/backwardness


Waqaf management in some muslim countries Waqaf management in Indonesia Cash waqaf (what, why, how)

Topic List (11)


The Role of State of Islam

the role of state in economy


free economic system the role of state in Islam

Topic List (12)


Islamic Monetary Policy

Conventional Monetary System


Critiques on conventional monetary system Islamic solution

Topic List (13)


Economic Cooperation among Moslem Countries

Economic Potential in Muslim Countries


Economic Problem in Muslim Countries Economic Cooperation among Muslim Countries; Prospect and Opportunity

References (1)
Anto. MB. Hendrie. 2003. Pengantar Ekonomika Mikro Islami. Yogyakarta: Ekonisia Antonio, M. Syafii. 2001. Bank Syariah Dari Teori ke Praktek. Jakarta: Gema Insani Press Chapra. M. Umer. 1985. Toward Just Monetary System. Leicester: The Islamic Foundation

______________. 1989. Islam and Economic Development. IIIT


______________. 1995. Islam and The Economic Challenge. Leicester: The Islamic Foundation ______________. 2000a. The Future of Economics, an Islamic perspective. Markfield: The Islamic Foundation ______________. 2000b. Is it Necessary to have Islamic Economics? The Journal of Socio-Economics, Volume 29, p. 21 37.

References (2)
El-Gamal, M. E. 2001a. An Islamic Explication of the Prohibition of Gharar in Classical Islamic Jurisprudence. A paper presented at the 4th International Conference on Islamic Economics and Banking held in Loughborough, August 1315, 2000. Also available on-line: http://www.ruf.rice.edu/~elgamal/files/gharar.pdf __________. 2001b. An Islamic Explication of the Prohibition of Riba in Classical Islamic Jurisprudence. On-line resource available on: http://www.ruf.rice.edu/~elgamal/files/riba.pdf Kahf, M. 1980 A Contribution to the Theory of Consumer Behaviour in an Islamic Economy. In Ahmad, K. (ed.) Studies in Islamic Economics, Ch 2, The Islamic Foundation, UK. Khan, M. F. 1992 Theory of Consumer Behaviour in Islamic Perspective. In Ahmad, A. and Awan, K. R. (eds.) Lectures on Islamic Economics, Ch 9, IRTI, The Islamic Development Bank, Saudi Arabia.

References (3)
________. 1995 Essays in Islamic Economics. Ch 2, The Islamic Foundation, UK.. Naqvi, Syed Nawab Haidar. 1994. Islam, Economics, and Society. London: Kegan Paul International Siddiqi. M. Nejatullah. 1981. Muslim Economic Thinking. Jeddah: International Center for Research in Islamic Economics ____________. 1985. Partnership and Profit-Sharing in Islamic Law. Leicester: The Islamic Foundation Al-Suwailem, S. 2000 Towards an Objective Measure of Gharar in Exchange. Islamic Economic Studies, Volume 7, Numbers 1 & 2. other related articles to concerned topics

Alhamdulillah Thank You Q and A

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