SYLLABUS-ISLAMIC-ECONOMICS-IPIEF.pdf

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SYLLABUS

FACULTY ECONOMIC AND BUSINESS

INTERNATIONAL PROGRAM FOR ISLAMIC ECONOMICS AND FINANCE (IPIEF)

1 Name of Course / Module Islamic Economics

2 Course Code EI19111

3 Credit Value 3

4 Objective

The course aims to introduce students of the philosophy of Islamic Economics and to understand the mechanism of the system with Islamic values.

Furthermore, to comprehend the differences from the existing economic systems.

5 Learning Outcomes

1. Understand the foundation of Islamic Economics.

2. Understand the features of Islamic Economics.

3. To have knowledge of the development of Islamic Economics.

4. Able to analyze the differences of Islamic Economic System with the existing economic systems.

5. Able to implement the Islamic Economics principles in various economic activities.

6 Synopsis

This course provides five main contents, such as:

1. Philosophy and Principle of Islamic Economics.

2. Short History of Islamic Economics School.

3. The Movement Islamic Economics in Indonesia.

4. The Key Features in Islamic Economics.

5. The Current Development of Islamic Economics.

7 References

1. Askari, Hossein, Et.al. (2015). Introduction to Islamic Economics: Theory and Application. Singapore: John Wiley & Sons

2. Chapra, Umer. (2001). What is Islamic Economics. Jeddah: IRTI.

3. Choudhury, Masudul Alam. (1986). Contributions to Islamic Economic Theory: A Study in Social Economics. New York: St. Martin's Press, Inc.

4. Nugroho, Eko B. & Choiruzzad, S. Al Banna. (2013). Indonesia's Islamic economy project and the Islamic scholars. Procedia Environmental Sciences, 17, 957 – 966. doi: 10.1016/j.proenv.2013.02.114 5. Addas, Waleed A.J. (2008). Methodology of Economics: Secular vs

Islamic. Kuala Lumpur: International Islamic University Press.

6. ISRA. (2015). Islamic Financial System: Principles and Operations.

Kuala Lumpur.

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7. Wilson, Rodney & El-Ashker, Ahmed. (2006). Islamic Economics: A Short History. Leiden: Brill

8 Lecturer Ahmad Dzakirin, S.E.I., M.B.A.

9 Correspondence

IPIEF Room, Postgraduate building.

Universitas Muhammadiyah Yogyakarta E-mail: [email protected]

Telp: +628128301235 10 Consultation time By Appointment

11 Academic Evaluation

Assessment for this module are:

1. Total participation at 10%

2. Total assignment and discussion at 20%

3. Paper at 20%

4. Mid competency test at 25%

5. Final competency test at 25%

The Course Outline

Meeting Topics References

1

(16/Sep/2020) Islamic Economic Paradigm

 Overview economic systems

 Overview of Islamic worldview

1. Askari, Hossein, Et.al. (2015). Introduction to Islamic Economics: Theory and

Application. Singapore: John Wiley & Sons 2. Chapra, M. Umer. (2001). What is Islamic

Economics. Jeddah: IRTI.

3. Choudhury, Masudul Alam. (1986).

Contributions to Islamic Economic Theory:

A Study in Social Economics. New York:

St. Martin's Press, Inc.

2 (23/Sep/2020)

Islamic Economic Paradigm (cont.)

 Islamic economics foundations

3 (30/Sep/2020)

Methodology of Islamic Economics

 Shariah sources

1. Mahmassani, S. (2000). Falsafat Al- Tashri’s fi al-Islam, The Philosophy of Jurisprudence in Islam (translated by Farhat J. Ziadah), Kuala Lumpur: The Open Press.

2. Chapra, M. Umer. (2001). What is Islamic Economics. Jeddah: IRTI.

4 (07/Oct/2020)

Methodology of Islamic Economics (cont.)

 The conflicts of worldview in conventional systems

5

(14/Oct/2020) Maqasid As-Shariah

 What is Maqasid As-Shariah

 Where is Maqasid As-Shariah in Islamic Economics

1. Kamali, M. Hashim. (2008). Maqasid Al- Shariah Made Simple. London: IIIT.

2. Chapra, M. Umer. (2008). The Islamic Vision of Development in The Light of Maqasid al-Shariah. London: IIIT.

6 (21/Oct/2020)

Islamic Economic Schools

 Overview of the scholars

 A short history thought from the scholars

Wilson, Rodney & El-Ashker, Ahmed. (2006).

Islamic Economics: A Short History. Leiden:

Brill 7

(28/Oct/2020) Islamic Economic Movement in Indonesia

 Early Responses from Islamic Scholars and Muslim Organizations (1980s)

 State supports

Nugroho, Eko B. & Choiruzzad, S. Al Banna.

(2013). Indonesia's Islamic economy project and the Islamic scholars. Procedia

Environmental Sciences, 17, 957 – 966. doi:

10.1016/j.proenv.2013.02.114

8 Mid Competency Test (04/Nov/2020)

9 (11/Nov/2020)

Ownership in Islamic Perspective

 Overview of the ownership

 Ownership classification

Brill

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Rules of class meeting:

1. A class will be managed by class leader, consists of a class leader and its deputy. They are selected democratically according to class members’ aggrement. The class leaders will get additional appreciation in terms of marks for respectively 10% and 7.5% out of normal marking arrangement above. Practically, they are responsible for several tasks:

a. Ensuring class attendance and venue b. Ensuring class assignment timely collected

c. Intermediating communicating between lecturer and students d. Assisting other related tasks concerning class if deemed necessary

2. Students are allowed to join class for tolerated maximum 15 minutes for late attendance;

otherwise, they are forbidden entering class.

3. Students who are absence due to getting sick and organizational activities must inform to the lecturer and class leader 2 hours before the class begin.

4. Strictly to join in every meeting, presentation, visiting scholar/ guest star and assignment.

5. Students who were absence for three consequtive weeks or accumulately has 3 unclear absence, are not allowed to join class for the entire semester .

6. Test examination and assignment results will be announced

7. Students who got D and E on his final marks, they have to repeat the course on the next academic year.

8. Cheating and any dishonest conduct will lead to dismissal

10

(18/Nov/2020)

The Forbidden Matters in Islamic Economic

 Transactions

 The classification of Riba

Saiti, Buerhan & Abdullah, Adam. (2016).

Prohibited Elements in Islamic Financial Transactions: A Comprehensive Review. Al- Shajarah, special issue. Malaysia: ISTAC- IIUM

11 (25/Nov/2020)

Market in Islamic Economic

 Overview a market

 Ideal market from Islamic perspective

Reda, Ayman. (2018). Prophecy, Piety, and Profits: A Conceptual and Comparative History of Islamic Economic Thought. US:

Palgrave - Springer.

12 (02/Dec/2020)

Economic Resources in Islamic Perspective

 Definition and perception

 Economic development and production

Brill 13

(09/Dec/2020) Economic Resources in Islamic Perspective

 Consumption

 Economic distribution

Brill 14

(16/Dec/2020)

The State & Public Policy

 Basic role of the state in general economic systems

 Role of the state in Islamic Economic Systems

 The policy instruments in Islamic Economic System

1. Askari, Hossein, Et.al. (2015). Introduction to Islamic Economics: Theory and

Application. Singapore: John Wiley & Sons 2. Chapra, M. Umer. (2001). What is Islamic

Economics. Jeddah: IRTI.

3. Chapra, M. Umer. (2008). The Islamic Vision of Development in The Light of Maqasid al-Shariah. London: IIIT.

15 (23/Dec/2020)

Islamic Finance Institutions

 Overview of the institutions

 Classification of the institutions

ISRA. (2015). Islamic Financial System:

Principles and Operations. Kuala Lumpur.

16 Final Competency Test

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SYLLABUS-ISLAMIC-ECONOMICS-IPIEF.pdf

SYLLABUS

FACULTY ECONOMIC AND BUSINESS

INTERNATIONAL PROGRAM FOR ISLAMIC ECONOMICS AND FINANCE (IPIEF)

The Course Outline

Meeting Topics References

Rules of class meeting:

a. Ensuring class attendance and venue b. Ensuring class assignment timely collected

c. Intermediating communicating between lecturer and students d. Assisting other related tasks concerning class if deemed necessary

2. Students are allowed to join class for tolerated maximum 15 minutes for late attendance;

otherwise, they are forbidden entering class.

3. Students who are absence due to getting sick and organizational activities must inform to the lecturer and class leader 2 hours before the class begin.

4. Strictly to join in every meeting, presentation, visiting scholar/ guest star and assignment.

5. Students who were absence for three consequtive weeks or accumulately has 3 unclear absence, are not allowed to join class for the entire semester .

6. Test examination and assignment results will be announced

7. Students who got D and E on his final marks, they have to repeat the course on the next academic year.

8. Cheating and any dishonest conduct will lead to dismissal

9. Grading System Batch 2017 and 2018

Grading and Weight Interval (%)

A A≥80

AB 75≤AB<80

B 65≤B<75

BC 60≤BC<65

C 50≤C<60

D 35≤D<50

E <35