ISC113

ISC113 introduces the Islamic economic system as part of Islamic Sharia and connects it to contemporary economic issues. The course studies property, succession, economic welfare, production, distribution, consumption, market ethics, pricing, money, and comparisons between Islamic economics and other economic systems.

• Define economic terms such as money, production, capital, and work.
• List the characteristics and major bases of the Islamic economy, including market ethics and regulations.
• Compare economic concepts such as savings versus hoarding and insufficient resources versus relative scarcity.
• Apply juristic rulings related to zakat, usury, and some market transactions.