Introduction to Islamic Economics : Theory and Application.

Intro -- Series Page -- Title Page -- Copyright -- Dedication -- Acknowledgments -- About the Authors -- Chapter 1: Economic Systems -- What Is an Economic System? -- Current State of the Global Economic System -- Islamic Economics Paradigm -- Short History of Economic Thought in Islam -- Summary -- Key Terms -- Questions -- Chapter 2: Foundation of the Islamic Economic Paradigm -- Meta-Framework and Archetype of Economic Rules -- Implications of the Agent-Trustee Relationship -- Significance of Rule Compliance -- Impact of Scarcity -- Rationality and Freedom of Choice -- Individual Obligations, Rights, and Self-Interest -- Central Notion of Justice -- Shariah: The Law -- Summary -- Key Terms -- Questions -- Chapter 3: Institutional Framework and Key Institutions -- Key Institutions -- Summary -- Key Terms -- Questions -- Chapter 4: The Islamic Economic System -- Social and Economic Justice -- Prohibition of Interest (Al-Riba) -- Risk-Sharing Economic System -- Role of the State -- Summary -- Key Terms -- Questions -- Chapter 5: Key Microeconomic Concepts -- Defining Microeconomics -- Issue of Needs Versus Wants -- Consumer Behavior -- Theory of the Firm -- Dynamics of Demand and Supply -- Efficiency Versus Equity -- Market Models -- Role of the State -- Summary -- Key Terms -- Questions -- Chapter 6: Key Macroeconomics Concepts -- Principal Economic Agents -- National Income -- Consumption, Savings, Investment, and National Income Determination -- National Income and Output Determination -- Inflation -- Unemployment -- Open Economy: Trade in Goods and Services with Other Countries -- Why International Trade is so Central to Islam -- Summary -- Key Terms -- Questions -- Chapter 7: Macroeconomic Equilibrium: Characteristics of an Islamic Economy1 -- Models of An Interest-Free Economy -- Summary -- Key Terms -- Questions.

Chapter 8: The Financial System -- Notion of Risk Sharing -- Building Blocks of the Islamic Financial System -- Takaful (Islamic Insurance) -- Summary -- Key Terms -- Questions -- Chapter 9: Role of the State and Public Policy -- Basic Roles of the State in All Economic Systems -- Role of the State in the Islamic Economic System -- Policy Instruments of the State in Islam -- Economic Justice and Public Policy -- Role of Public Policy -- Summary -- Key Terms -- Questions -- Chapter 10: Fiscal Policy -- Role of Fiscal Policy -- Fiscal Policy in an Islamic Economy -- Public Finance -- Summary -- Key Terms -- Questions -- Chapter 11: Monetary Policy -- Role of Monetary Policy -- Monetary Policy in an Islamic Economy -- Summary -- Key Terms -- Questions -- Chapter 12: Economic Development and Growth -- Evolution of Western Economic Thought: From Smith to North and Sen1 -- Foundation and Framework of Development and Growth in Islam -- Islamic Perspective on Financial Inclusion -- Summary -- Key Terms -- Questions -- Chapter 13: Economic and Social Welfare -- Social Safety Net Provisions -- Concept of Safety Net and Welfare -- Empirical Evidence on Social Welfare from Select Muslim Countries -- Summary -- Key Terms -- Questions -- Chapter 14: Economic State of Affairs in OIC Countries -- Public Policy in the Islamic Economic System -- Dimensions of Economic and Social Achievements in Muslim Countries -- Summary -- Key Terms -- Questions -- Glossary of Arabic Terms -- Bibliography -- Index -- End User License Agreement.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.