SYLLABUS
FACULTY ECONOMIC AND BUSINESS
INTERNATIONAL PROGRAM FOR ISLAMIC ECONOMICS AND FINANCE (IPIEF)
1 Name of Course / Module Islamic Monetary Economics
2 Course Code EU6420
3 Credit Value 3 Credit
4 Objective
1. To expose the students to the significance of Islamic heritage in monetary economic
2. To critically appraise selected contemporary Islamic monetary economic issues from shariah perspectives.
5 Learning Outcomes
1. Understand the current problem in economic system 2. Understand the alternative solution of current
monetary economic system that is proposed in Islamic perspective
3. Understand the different views and schools of thought in Islamic and conventional monetary economies
6 Synopsis
This course discusses the role of money in Islam mostly in the context of a closed and open economy. It covers various mainstream theory of money as well as the analysis of monetary policy. The major topic that will be discussed include current monetary economic problem, the use of gold as money backed commodity, the fundamental reform in current monetary economic, the role Islamic bank and central bank in Islam and Islamic monetary policy practice.
7 References
1. Meera, A.K.M (20014). The Theft of Nations:
Returning to Gold. Kuala Lumpur: Pelanduk.
2. Toutounchian, I. (2009). Islamic Money and Banking:
Integrating Money in Capital Theory. Singapore:
Wiley.
3. Chapra, M.U (2001). Toward A Just Monetary System. London: Islamic Foundation.
8 Lecturer Faaza Fakhrunnas, M.Sc.Fin 9 Correspondence
IPIEF Room 407, Postgraduate building, 4th floor E-mail: [email protected]
WA: +62 823 2226 1015
10 Consultation time Wednesday, 7am-9.30 am (face to face meeting)
Every day, 8am-4pm (by e-mail)
11 Academic Evaluation
1. Adab and Participation (10%) 2. Presentation 10%
3. Paper 20%
4. Quiz 1&2 10%
5. Mid Exam (20%) 6. Final Exam (30%) Total 100%
COURSE OUTLINE
Meeting Course Materials
1st Meeting Introduction
2nd Meeting The Perspective ; Crisis and Current Global Financial System 3rd Meeting The Instability and Unjust of Fiat Monetary System 4th Meeting The Theft of Nation and Fiat Monetary System 5th Meeting Quiz and Evaluation
6th Meeting Gold Dinar Solution
7th Meeting Gold Dinar in International Trade and Domestic Transaction
8th Meeting The Goals and Strategy
9th Meeting Mid-Exam
10th Meeting The Nature of Riba and The Alternative
11th Meeting Some Fundamental Reforms
12th Meeting Objections and Rationale
13th Meeting Institutional Setting
14th Meeting Quiz and Evaluation
15th Meeting The Role of Central Bank in Islamic Banking
16th Meeting Monetary Policy
17th Meeting Evaluation and Transition
18th Meeting Final-Exam
Rules of class meeting:
1. Come to class on-time.
2. The maximum tolerance for students to come late is 15 minutes.
3. If students come after 15 minutes, lecturer has right not to let them enter the class.
4. If lecturer does not show up until 15 minutes from the scheduled time without any information (given to class leader or WA Group), then the class will be replaced to another agreed day.
5. Students are given 4 times to absent per semester.
6. If students are absent more than 4 times, they can not participate in Final Examination.
7. Lecturer does not accept any reasons, except for any emergency issues (ex:hospitalized).
8. The students must get involved in class discussion.
9. Students must show Islamic values (including akhlaq and adab) during learning process.
10. This class will be more than 50 % class presentation performed by the students.
11. Lecturer is responsible to brief the topics and answer questions.
12. Lecture will not share the slide and the student is obligated to note all discussion in the class
13. Please do not turn on your phone during the class 14. Grading System
Score and Weight Range (%)
A (Perfect) – 4.00 81-100
A- ( Excellent) - 3.75 76 – 80
B+ (Very Satisfied) – 3.25 71 – 75
B (Satisfied) – 3.00 66 – 70
B- (Very Good) – 2.75 61 – 65
C+ (Good) – 2.25 56 – 60
C (Fair) – 2.00 51 – 55
D (Bad) – 1.00 46 – 50
E (Fail) – 0.00 0 – 45
