BNK611 : Economic Ideology in Islam

Course Overview

Course Synopsis

This course will discuss the ideological foundation of Islam to analyzing the economic activity in life. This ideology caters the individual and society to build a sound and developed economy. It will discuss and examine economic problem and discuss how Islam has provided the solution to these economic problems and provide a sound Islamic economic system. Students will have an insight how Islam can be considered as a universal system to be applied to consumption, production and distribution of wealth. Finally, students will gain a unique perspective into how and why Islamic values contribute to a dynamic understanding of the business climate. This subject will also arm students with the skills to understand and apply the elements of Islamic economics to economy. This is the basic course to introduce the basic concepts of Economics Ideology of Islam, both at the theoretical as well as practical levels. The course aims at introducing the evolution of economic thought of Muslims and its differences with the Western economic thinking. The course will enable the students to understand and analyze the ideological foundation of Islam in economic activity.

Course Learning Outcomes

At the end of the course students will be able to:

  • Understand the ideological foundation of Islam to analyze the economic activity in life
  • Understand how to examine economic problem and its solutions provided by Islam
  • Examine the Islamic economic system provided to address consumption, production and distribution of wealth
  • Understand the basic differences between Islamic economic system and Western modern syestm
  • Recognize the Islamic Institutional Framework
  • Appreciate the role of Muslim scholars to the development of economics
  • Examine distributive justice in Islamic economy
  • Understand the economic development in Islamic framework


Course Calendar

TopicLectureResourcePage
Impermissible Modes (1)8Video lectures by Dr M Ammad ul Haque135-145
Impermissible Modes (2)9Video lectures by Dr M Ammad ul Haque146-149
Impermissible Modes (3)10Video lectures by Dr M Ammad ul Haque150-154
Quiz No. 3
Social, Moral and Economic Evils of Riba11Video lectures by Dr M Ammad ul Haque155-160
Assignment
Factors of Production in Islam, Capitalism and Socialism12Video lectures by Dr M Ammad ul Haque161-173
Concept of Circulation of Wealth in Islam13Video lectures by Dr M Ammad ul Haque174-183
An Introduction to Islamic Banking14Video lectures by Dr M Ammad ul Haque184-191
Quiz No. 4
Zakat15Video lectures by Dr M Ammad ul Haque192-198
FINAL TERM EXAMS
 
 
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