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The Philosophy of Islamic Economics: An Introduction

[Event has ended]
Tue, 8 January 2013, 7.30 - 10.30 pm | English
45 Bussorah Street #02-00
Abdul Halim Abdul Karim


Fees: $200 after infaq

1. Course Synopsis:

What is the Fundamental Cause of the Current Economic Crisis and other Economic Crises in History? What does Islam teach us about Economics? How can we really understand Islamic Finance? Learn answers to these and other pressing questions about Islam and Economics.

Islamic Economics is the only viable wholly independent, alternative economic paradigm in the world today. It offers real solutions to today's economic as well as sociopolitical problems that have its roots in the excesses and disequilibrium nature of conventional Economics.

Islamic Economics is based on principles that offer the best alternative with extensive set of parameters for economic activities. In theory as well as in practice, these parameters are both descriptive as well as prescriptive and put forward a comprehensive and coherent economic mechanism resulting in greater Economic Justice and equity than that seen in Western conventional economics.

Importantly, Islamic Economics details the roles and responsibilities of Man as economic agents as well as servants of Allah s.w.t. so that he could truly attain the status of Khalifah on this Earth.

This intensive 8-session course introduces Economics as understood in the conventional western sense as well as when it is understood as an integral part of the Islamic way of life. Basic concepts and assumptions in Economics will be studied with a solid base of the philosophical underpinnings of Economics as conceived and practiced in the West and comparing these philosophical underpinnings with those that are based on Islamic teachings. Contemporary economic phenomenon and issues such as Globalisation, the Knowledge Based Economy as well as the re-emergence of the Islamic Gold Dinar will also be discussed.

2. Course Coverage:

- Philosophy of Islamic and non-Islamic Economics
- Reviewing Basic Conventional Assumptions in Economics
- Man as Economic Agent in Islam
- Defining Islamic Economics; Role of Economic Justice
- Scarcity, Maximization of Utility and Economic Choice in Islam
- Capitalism, Consumer Behaviour and Islamic Values
- Money in Conventional and Islamic Economics and Prohibition of Riba'
- Gold Dinar versus Fiat Money
- Islamic Economics and Globalisation
- Knowledge Based Economy in Islam
- A Muslim Economic Agent in a non-Islamic Economic System


3. Course Duration:

8 sessions (from 8 Jan to 26 Feb 2013), every Tuesday
from 7.30pm to 10.00pm (sometimes 10.30pm)*

* Subject to the pace of the class, extension of 2 lessons may be organised, subject to class consensus.

4. Course Venue:

45 Bussorah Street, opposite Sultan mosque (nearest MRT station: Bugis)

5. Course Fees:

Originally $330.00; Now after infaq (sponsorship) Only $200.00

6. Course Registration:

Please register online via latest by 4 Jan 2013.
Registration is on a first-come first-serve basis (seats limited to 24 pax max).


Abdul Halim Abdul Karim


Abdul Halim Abdul Karim

Abdul Halim has a very multidisciplinary background that encapsulates the Hard Sciences, the ...


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