MAEF620 ISLAMIC ECONOMICS

Course Description:

This course is intended to continue to introduce students to Islamic economic history and philosophy (wisdom) from the Quran and Sunnah. The course will build on other courses that introduced Islamic Finance. This Islamic economics course will show the difference between Islamic thinkers in the field of economics in the past and present. The course will enhance the students’ awareness on the body of classical economics and relate it to contemporary schools of economics. This course is based on advanced thinking and will discuss developing Islamic economics to the applied field by studying theory and practice.

Course Code: MAEF620

Credit hours: 3

Pre-Requisites: None

Learning Objectives:

• Students will be able to understand the meaning of Islamic economics.
• Students will be able to understand the difference of  Islamic economics relative to classical and neoclassical theories of economics.
• Students will be able to understand the development by economists that apply the philosophy of Islamic economics.
• Students will be able to understand the challenges which face Islamic economics.

Course Outlines:

• Economic Thought in the Qur’àn and Sunnah
• Books on classical Islamic economics
• From reform to revival, an economic journey of thinking
• The modernization of Islamic economics
• The challenges of globalization