Course Information

Semester	Course Unit Code	Course Unit Title	T+P+L	Credit	Number of ECTS Credits
1	ECON 523	Islamic Economics and Finance	3+0+0	3	8

Course Details

Language of Instruction	English
Level of Course Unit	Master's Degree
Department / Program	MA Program in Economics (Thesis) (English)
Type of Program	Formal Education
Type of Course Unit	Elective
Course Delivery Method	Face To Face
Objectives of the Course	This course is designed to provide an introduction to Islamic economics & finance. The course will address basic concepts and main principles of Islamic Economics & Finance including the origins & historical background to understand the paradigm compared to other conventional economics. The course will discuss the main theories of Islamic economics and finance to explain its distinctive nature. The course will focus on several applications of the Islamic economic system, especially: Islamic banking, Islamic Capital markets, Islamic corporations and financial instruments through examining the rules of Islamic monetary transaction Fikh (Muaamalat). Sharia’s control and supervision of all these economic and financial activities shall be debated. The course will also include discussion of Islamic macroeconomics, Planning and its relation to sustainable development. Finally, the course will evaluate the Turkish experience of Islamic economics & Finance and how it is positioned within the Turkish Financial sector.
Course Content	The course will focus on several applications of the Islamic economic system, especially: Islamic banking, Islamic Capital markets, Islamic corporations and financial instruments through examining the rules of Islamic monetary transaction Fikh (Muaamalat). Sharia’s control and supervision of all these economic and financial activities shall be debated
Course Methods and Techniques
Prerequisites and co-requisities	None
Course Coordinator	None
Name of Lecturers	Dr. Ahmed Matar
Assistants	None
Work Placement(s)	No

Recommended or Required Reading

Resources	Yasin, H. M., & Atiq-uz-Zafar Khan. (2016). Fundamentals of Islamic economics and finance. Islamic Research and Training Institute (IRTI).
	Yasin, H. M., & Atiq-uz-Zafar Khan. (2016). Fundamentals of Islamic economics and finance. Islamic Research and Training Institute (IRTI).

Course Category

Social Sciences	%50
Field	%50

Planned Learning Activities and Teaching Methods

Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria

In-Term Studies	Quantity	Percentage
Quizzes	2	% 10
Assignment	2	% 10
Attendance	1	% 20
Project	1	% 10
Final examination	1	% 50
Total	7	% 100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration	Total Work Load
Course Duration	14	3	42
Hours for off-the-c.r.stud	14	10	140
Assignments	2	5	10
Presentation	1	4	4
Mid-terms	2	8	16
Project	2	5	10
Final examination	1	20	20
Total Work Load			Number of ECTS Credits 8 242

Course Learning Outcomes: Upon the successful completion of this course, students will be able to:

No	Learning Outcomes
1	Compare and contrast the different theories of Islamic Economics and Finance.
2	Acquire a sound in-depth understanding of the Islamic Worldview (ontology) and methodology (epistemology) and its implications on economics and financial activities
3	Learn the Shariah perspective on the economic concepts of production, consumption and distribution
4	Critically evaluate main features that would distinguish the Islamic financial system and Islamic Financial Institutions from its conventional counterpart
5	Identify a range of commonly used Islamic financial instruments, products and services
6	Adequately discuss main principles requirement and conditions that govern activities and contracts in the Islamic financial system
7	Critically evaluate the key principals of Islamic capital market
8	Assess the current models and practices of Takaful in contrast to conventional insurance
9	Elaborate the current issues and challenges of Islamic finance industry.

Weekly Detailed Course Contents

Week	Topics	Study Materials	Materials
1	Adaptation of Islamic Economic Paradigm compared to other economies
2	The Basic Concepts, Principles of Islamic Economics and Finance.
3	Origin of Islamic Economy a historical background.
4	Main Theories of Islamic Economics and Finance.
5	Islamic Monetary Transaction Jurisprudence (Fikh).
6	Islamic Economic System & Applications.
7	Basic Concepts of Islamic Banking.
8	Islamic Financial instruments.
9	Islamic Capital markets.
10	Islamic Corporations and Islamic Parameters.
11	Sharia Supervision and Control on Economic and Financial activities.
12	Islamic Macroeconomic, Planning and Sustainable Development.
13	The Turkish Experience in the Islamic Economy and Financial Sector.
14	Revision and Discussion of the Projects.

Contribution of Learning Outcomes to Programme Outcomes

	P1	P2	P3	P4	P5	P6	P7
All	1					5	5
C1
C2		4	4
C3
C4		3	4
C5	4			5		4
C6	1
C7							3
C8				1
C9	1				5

Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant

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