Course Description:

The course trains students on the research methodologies used in Islamic Finance; that are directly relevant to the academic and professional investigations needed for his degree in Islamic Finance. It offers an overview of the different approaches, considerations, and challenges involved in two major selections of research, i.e. quantitative and qualitative methodologies. Guidance College E-Library will be a rich source of information that helps students explore the research methods used (i.e. interviews, surveys, thesis, papers, conference proceedings…etc.)

Students will be able to come up with a reasonable plan or proposal for a good piece of research. This research plan or proposal will exclude any econometric methods or modelling because such topics will only be covered in specific research oriented courses.

Course Code: EMIEF700

Credit hours: 3

Pre-Requisites: None

Learning Objectives:

  • Students will be able to understand the philosophy of research and importance of history
  • Students will be able to appreciate the different methodologies employed in research
  • Students will be able to learn the correct tools of collecting and collating data and information
  • Students will be able to learn the different statistical techniques that can be used to test and measure the variables of research interest
  • Students will be able to appreciate the importance of proper design and techniques to be employed in conducting research

Course Outlines:

  • Introduction to research: What is research? Structure of Research, Research Philosophy, Applied and Basic Research.
  • Scientific Investigation: What is Scientific Investigation, Hallmarks of Scientific Research, the Hypothetic & Deductive Method.
  • The Research (Design) Process I: Broad Problem Area, Preliminary Data Gathering, Problem Definition.
  • Research Process for Applied and Basic Research: Broad Problem Area, Preliminary Data Collection, Literature Survey, Problem Definition, Ethical Issues in the Preliminary Stages of Investigation.
  • Measurement of Variables: Operational Definitions and Scales, How Variables are Measured, Operational Definition (Dimensions and Elements), Scales, Operational Definition on and Scaling.
  • Data Collection Methods.

Main Textbook

Uma Sekaran, Research Methods For Business: A Skill Building Approach, Fourth Edition, John Wiley & sons, 2003.

Grading and Evaluation:

  • Minimum passing grade 70%
  • Weekly Assignments: 30% (10 assignments, 3% each)
  • Attendance:  10%
  • Mid-Term exam:  10%
  • Final exam:  10%
  • Oral exam:  20%
  • Research paper:  20%

Guidelines for Research Paper:

 1- A part of the course requirements is to submit a research paper, except for certain courses.

 2- The chosen topic must be relevant to the course and approved by the Instructor.

 3- Joint project / research is allowed, up to 3 students, and upon the instructor’s approval.

 4- The paper must meet the following requirements:

  • Consider either MLA or APA guides for writing research papers
  • Follow the standard research paper structure with a Table of Contents, Abstract or Executive Summary, Introduction, Main Body, Conclusion, List of Reference
  • The Main Body should be organized into logical chapters and paragraphs
  • When quoting Hadeeth, a notation indicating its authenticity must be clearly

E-LibraryPlease log in with your user ID & password 

Communication Etiquette:

  • If sending emails directly to the Instructor, please include appropriate label in the subject line (Action Required/Info/Admin) and allow up to 3 working days for reply.
  • Limit telephone communication with the Instructor to the office hours only.
  • When leaving a voicemail, please clearly state your name, course code, and contact number.

Additional Information:

Log in Instructions:

To attend live – online lectures (on their scheduled time):

Virtual Class Room

Access the course on-line by logging into Online School, accessible from

Guidance College Online School

You will need a user name and password to:

  • View the recorded lectures if you missed the live online ones.
  • Interact with your teacher and classmates.
  • Upload and submit your assignments, research papers, and exams.
  • View your grades.
  • All attempt must be made to submit assignments by the agreed due dates. Late submissions will be penalized.
  • Your work will be checked and graded on weekly basis, in sha Allah.

Vision Statement:

Guidance College shall be one of the top well-recognized universities in the United States that offers graduate and undergraduate degrees in specialized Islamic fields aiming at preparing moral and well-knowledgeable leaders who provide research-based Islamic alternatives that enable the Muslims to contribute to the success of their country.

Mission Statement:

Guidance College is the place where students gain their undergraduate degrees in authentic and professional specialized Islamic knowledge that recognizes modern-time realities and allows them to examine different branches of knowledge from an authentic Islamic perspective which enables them to think ethically, logically, analytically, and critically while making responsible and moral decisions aiming at improving the quality of life for all inhabitants of the earth with a full understanding and appreciation of the cultural and human differences.