Islamic Micro Economics

IIIBF · 12 December 2023

Welcome to an exciting journey into the world of Islamic Economics. This course is designed to introduce you to the fundamental principles, theories, and practices that define Islamic economics. Our exploration will span a range of topics, providing a comprehensive understanding of this unique economic system.

We will start with the Foundations of Islamic Economics, delving into the historical and religious underpinnings that shape this field. This will set the stage for understanding the Islamic Guidelines for Economic Behaviour, which are crucial in shaping economic transactions and policies in Islamic contexts.

Our modules will then progress to the Methodology and Goals of Islamic Economics, offering insights into the objectives and approaches that differentiate Islamic economics from conventional systems. The Theoretical Foundations of Islamic Economics will be a key focus, providing the conceptual framework necessary for deeper study.

In this course, you will also learn about the Islamic Theory of Consumption and Demand, exploring how Islamic principles influence consumer behavior and market demand. The Islamic Theory of the Firm will shed light on business operations within an Islamic framework, while our discussion on Market Structure in Islamic Framework and Market Competitiveness in Islam will illustrate the dynamics of markets governed by Islamic ethics.

We will also examine the areas of Prohibited Markets in Islam, understanding the rationale behind certain economic prohibitions. The Islamic Theory of Distribution will be a critical area of study, emphasizing the principles of equity and justice in the distribution of wealth.

Learning Objectives

  • Gain a thorough understanding of Islamic economic principles and their application.
  • Analyze and critique the methodologies and theories of Islamic economics.
  • Compare and contrast Islamic economics with conventional and mainstream economic systems.
  • Apply neoclassical tools to understand and evaluate Islamic economic models.
  • Develop a nuanced understanding of the ethical and moral dimensions of Islamic economics.

This course promises to be intellectually stimulating and enriching. Whether you are new to the subject or looking to deepen your existing knowledge, this course offers a valuable perspective on how economics is practiced in a framework guided by Islamic principles.

We are excited to embark on this journey with you.

Course Content

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About Instructor


7 Courses

Not Enrolled

Course Includes

  • 13 Lessons
  • 26 Topics
  • 12 Quizzes

Dr. Irfan Syauqi Beik

Member of Board of Commissioner Badan Wakaf Indonesia

Nana Mintarti

Commissioner, National Zakat Foundation (BAZNAS) Indonesia

Dr. Ahmad Juwaini

Director, National Sharia Economy & Finance Committee (KNEKS), Indonesia

Agus Wicaksono

CEO & Co-Founder of Alumnia

Dr. Moutaz Abojeib

Islamic Fintech Expert, ISRA, INCEIF

Dr. Nasim Shah Shirazi

HBK University, Qatar

Dr. Mohammed Obaidullah

Founder, IBF Net

Dr. Hisham Dafterdar

Awakaf Australia

Mufti Faraz Adam

Shariah Consultant & Head of Research, National Zakat Foundation, UK

Azim Kidwai

CEO, Mercy Mission & Chair, BoT, National Zakat Foundation, UK

Vladimir Malenko

General Director
PayZakat, Russian Federation

Zeinoul Abedien

CEO, Awqaf SA, South Africa

Dr. Abd Halim M Noor

Rector, UiTM Melaka Campus, Malaysia

Dr. Aliyu Dahiru Mohammed

Bayero University, Kano, Nigeria

Khalifa Muhamad Ali

Faculty of Islamic Economics
IPB University, Indonesia