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Lecture notes

Class notes ISB 551 Islamic Economics: Principles and Analysis

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2024/2025 Written for academic year
Institution University Of The People
Module ISB 551
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Good luck in Islamic Economic (ISB 551) Love from student ISBA new syllabus

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ISLAMIC MICROECONOMICS
Part 5

, LEARNING OUTCOME
 Understand the characteristics of various market
structures and their advantages and disadvantages
 Comprehend the position of perfect competition,

monopoly, monopolistic competition and oligopoly fro
conventional and Islamic perspectives

, MARKET AND ECONOMIC SYSTEMS
 Market – place for buyers and sellers to
undertake exchange activities
 Functions
communicating price information
setting the price of traded items
facilitating deals and transactions
influencing the allocation of resources
assisting in the distribution of income and wealth
 Roles -

, MARKET AND ECONOMIC SYSTEMS
 Roles – different based on economic systems
Free market system
become foundation of the system to allocate economic resour
and for the distribution of income and wealth
Command economic system
Market functions in the system are limited
Government determines what goods should produced, how m
should be produced and the price at which the goods are offe
for sale
Islamic economic system
Comprehensive
Islamic rules of the game
Market – harmonious interactions between human and the
creator, other human and the universe.
Connected book
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Moutaz Abojeib, Muhammad Anas Zarka, Muhammad Fahim Khan, Muhammad Irwan Ariffin, Muhammad Syukri Salleh, Rifki Ismal, Rokiah Alavi, Ruzita Mohd Amin, Saiful Azhar Rosly, Selamah Abdullah Yusof, Ugi Suharto, Zubair Hasan, Adam Abdullah, Adam Ng, Akhmad Af Islamic Economics: Principles and Analysis
Publisher: 2018 ISBN: 9789671656815 Edition: Unknown

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August 31, 2024
Number of pages
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Written in
2024/2025
Type
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