The module explores faith and ethical perspectives on economic organisation and behaviour. It explores faith perspectives on economics and finance. Utilising this context it then explores in detail the Islamic perspectives on these issues. The module defines an Islamic economy, identifies its major players and explains how they behave and interact. It also attempts to explain and analyse contemporary Islamic economic behaviour at individual, organisational and the market level.
The educational aims are to introduce one to the notion of Islamic economy and different sectors within it, with special focus on financial institutions and markets, and interaction between them; provide one with a basic understanding of the Islamic doctrine in relation to the matters related with economic behaviour and organisation, and the opportunity to analyse Islamic economic behaviour (in relation to individuals, organisations and markets) in contemporary Muslim societies.
Learning Outcomes
By the end of the module students should be able to:
Identify and explore Faith and Ethical Perspectives on Economic behaviour and organisation;
Demonstrate a critical understanding of the salient features of an Islamic economy, what are its primary policy objectives, and how different players should behave in order to achieve the goals of an Islamic economic policy;
Develop a critical appreciation of Islamic Economic concepts, their relevance in contemporary societies and be able to explore the diversity of Muslim scholarship on these issues;
Analyse the possible contribution of Islamic Economics to the Sustainable and Responsible Economics and Finance paradigm.
