ISL-ECO: Islamic Economics

This module aims to look at the key concepts and ideas within the field of Islamic economics and how they relate to contemporary economic theory and practice. By beginning with an introduction to two major financial systems students will have a background against which they may develop a comparative understanding of the Islamic economic system. The module will provide students with an indispensable complement to the theoretical and practical underpinnings of the Islamic financial system.

• Credit value: 3 (US standard) | 6 (ECTS standard)
• Indicative duration (full time): 4 weeks
• Indicative duration (part-time): 6 week
• Certificate: Yes

This course is based on standard EUCLID methodology. Students may refer to the following resources:

Academic Guidelines (HQ version)
Academic Guidelines (most recent version even if unofficial)
Student Orientation Guidelines (most recent version even if unofficial)
Zotero instructions for EUCLID students

At the end of this course, the student will be able to:

• Compare and contrast the different theories about the Islamic economic system
• Critically evaluate main features that would help an economy to tend towards an Islamic economy
• Summarize the strengths and weaknesses of competing theories of Islamic economy
• Critically assess different economic models of Islamic states on the basis of Islamic economy

Some of the course material is provided in PDF format. Textbooks include:

• Official IbDB publications
• Government resources / articles / briefings