Islamic Moral Economy and Finance module (BU52027)

This module will focus on three main themes including:

• an overview of the foundation of Islamic economic analysis of prevailing theories
• Islamic macroeconomic theories
• major structural themes of Islamic economics
  • voluntary sector
  • prohibitive elements in market transactions
  • appraisal of the factors of production from an Islamic perspective

What you will learn

In this module, you will:

• understand Islamic economics and construct a comprehensive and integrated economic system (Political Economy Understanding)
• understand Islamic economic methodology through a critical appraisal of key postulates in existing literature (Methodological Approach)

By the end of this module you will be able to:

• critically evaluate the implementation of Islamic finance according to Islamic Moral economy postulations and assumptions
• understand the regulatory framework for legitimate economic exchange and productive organisation
• understand market imperfection from the perspective of Islamic economies, the form of monopolistic practices, how information is manipulated, and the role of uncertainty
• understand non-market institutions, the role they play in economic development, and securing the welfare of the stakeholder

Assignments / assessment

• critical review (50%)
• assignment (50%)

This module does not have a final exam.

Teaching methods / timetable

This module is delivered through a combination of lectures and guided independent study.

• lectures in this module (10%)
• guided independent study, including the completion of assessment tasks (90%)