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Islamic Philosophy of Economics: An Introduction

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Mon, 11 May 2009, 7.30pm to 10.30pm | English

Pergas, Wisma Indah

Abdul Halim Abdul Karim

courses

Islamic Economics is the only viable wholly independent, alternative economic paradigm in the world today. It offers real solutions to today's economic as well as sociopolitical problems that have its roots in the excesses and disequilibrium nature of conventional Economics. Islamic Economics is based on principles that offer the best alternative with extensive set of parameters for economic activities. In theory as well as in practice, these parameters are both descriptive as well as prescriptive and put forward a comprehensive and coherent economic mechanism resulting in greater Economic Justice and equity than that seen in Western conventional economics. Importantly, Islamic Economics details the roles and responsibilities of Man as economic agents as well as servants of Allah s.w.t. so that he could truly attain the status of Khalifah on this Earth.

This intensive 8 session (4 weeks) course introduces Economics as understood in the conventional western sense as well as when it is understood as an integral part of the Islamic way of life. Basic concepts and assumptions in Economics will be studied with a solid base of the philosophical underpinnings of Economics as conceived and practiced in the West and comparing these philosophical underpinnings with those that are based on Islamic teachings. Contemporary economic phenomenon and issues such as Globalisation, the Knowledge Based Economy as well as the re-emergence of the Islamic Gold Dinar will also be discussed.

* Philosophy of Islamic and non-Islamic Economics
* Review of Basic Conventional Assumptions in Economics
* Man as Economic Agent in Islam
* Defining Islamic Economics; Role of Economic Justice
* Scarcity, Maximization of Utility and Economic Choice in Islam
* Capitalism, Consumer Behaviour and Islamic Values
* Money in Conventional and Islamic Economics and Prohibition of Riba'
* Gold Dinar vs Fiat Money
* Islamic Economics and Globalisation
* Knowledge Based Economy in Islam
* A Muslim Economic Agent in a non- Islamic Economic System

Details

Course Fees - $330.00 includes notes & refreshments [$30.00 off for full time students]

Mondays & Wednesdays, 7.30 - 10.30 pm

Venue: Level 3, Pergas, Wisma Indah 448 Changi Road (besides Masjid Kassim)

Closing date of registration 8th May 2009.