Course Title: Fundamentals of Islamic Economics
Course Code: ECN312
Program: B.Sc. in Finance
Department: Department of Economics and Finance
College: C0llege of Business Administration
Institution: University of Hail
Version: Three
Last Revision Date: 5/10/2023
Table of Contents
A. General information about the course: ................................................................ 3
B. Course Learning Outcomes (CLOs), Teaching Strategies and Assessment
Methods .................................................................................................................... 4
C. Course Content ...................................................................................................... 6
D. Students Assessment Activities ............................................................................ 6
E. Learning Resources and Facilities .......................................................................... 6
F. Assessment of Course Quality ............................................................................... 7
G. Specification Approval .......................................................................................... 7
2
A. General information about the course:
1. Course Identification
1. Credit hours: (3) HRS
2. Course type
A. ☐University ☐College ☒ Department ☐Track ☐Others
B. ☒ Required ☐Elective
3. Level/year at which this course is offered: (Fifth Level/ Third)
4. Course general Description:
1. Course Description
Fundamentals of Islamic Economics (ECN-312) is an introductory course in Islamic economy. The course
includes topics such as basic issues in Islamic economics covering Islamic economic concepts,
assumptions, monetary system in Islam, Islamic banking, growth, and current practices. The course also
covers Zakat, Tax, solving poverty problem and current practices in Islamic economics.
5. Pre-requirements for this course (if any):
IC-111
6. Co-requirements for this course (if any):
None
7. Course Main Objective(s):
The course is intended to provide the student with the basic issues in Islamic economics covering Islamic
economic concepts, assumptions, monetary system in Islam, Islamic banking, growth, and current practices.
The course also covers Zakat, Tax, solving poverty problem and current practices in Islamic economics.
2. Teaching mode (mark all that apply)
No Mode of Instruction Contact Hours Percentage
1 Traditional classroom 45 100%
2 E-learning 0 0
Hybrid
3 • Traditional classroom 0 0
• E-learning
4 Distance learning 0 0
3
3. Contact Hours (based on the academic semester)
No Activity Contact Hours
1. Lectures 45
2. Laboratory/Studio 0
3. Field 0
4. Tutorial 0
5. Others (specify) 0
Total 45
B. Course Learning Outcomes (CLOs), Teaching Strategies and Assessment
Methods
Course Learning Code of CLOs aligned Teaching Assessment
Code
Outcomes with program Strategies Methods
1.0 Knowledge and understanding
K1 Direct:
Midterm exam
Describe the
and Final exam.
conventional economic Short exams
Lectures
system and its Discussion
Brainstorming
1.1 drawbacks, the Islamic discussions Indirect:
economics; the Course
difference between evaluation
them. survey by
Students
K1 Direct:
Midterm exam
Recognize the basics and Final exam.
Lectures Short exams
assumptions of Islamic
Brainstorming Indirect:
1.2 economy, the reasons Discussion
behind the adoption of
Course
those assumptions. evaluation
Survey by
Students
…
2.0 Skills
Summarize role of S1 Lectures & Direct:
2.1 Midterm exam
money in Islamic discussions,
and Final exam.
4
Course Learning Code of CLOs aligned Teaching Assessment
Code
Outcomes with program Strategies Methods
economy concerning cooperative learning Short exams
inflation, national Brainstorming Indirect:
income, balance of Course
payments, foreign evaluation
exchange stability and survey
unemployment rate. by Students
S1 Direct:
Midterm exam
Compare conventional and Final exam,
economic system with Quizzes, and
Lectures
Islamic economy Discussions Discussion
2.2 Case studies Indirect:
system, and the
theories underlining Course
concepts. evaluation
survey by
Students
S3 Direct:
Short exams
Analyze current Midterm exam
practices of Islamic and Final exam.
Lectures,
economy in general,
2.3 discussions, and Indirect:
and products of Islamic
problem solving Course
practices such as Zakat,
and Islamic banking. evaluation
Survey by
Students
3.0 Values, autonomy, and responsibility
V1 Direct:
Demonstrate ability of Research project
students towards Presentation / Presentation
collaborative work, Discussions Discussion
3.1 adherence to ethical case study. Indirect:
and social Cooperative learning Course
responsibility in a team evaluation
setting. survey by
Students
3.2 ---------------------------
...
5
C. Course Content
No List of Topics Contact Hours
1. Introduction: Overview of economic system, Man vis-à-vis the society 6
Islamic economics, definitions and basic concepts, basic assumptions of Islamic
2. 6
economics, consumption, and consumer expenditure in an Islamic society
3. Income and wealth distribution in Islam 9
4. Islamic Economics: The role of money 6
5. The financial system, fiscal policy, and monetary policy 6
6. Islamic banking transactions 6
7. Tax, Zakat, and poverty issues 3
8. Islamic economics: Current practices 3
Total 45
D. Students Assessment Activities
Assessment
Percentage of Total
No Assessment Activities * timing
Assessment Score
(in week no)
Quizzes, Discussion, research project 3rd, 5th, 11th,
1. /presentation and 12th 20%
th
2. Midterm Exam 8 30%
3. Final Exam 16th 50%
...
*Assessment Activities (i.e., Written test, oral test, oral presentation, group project, essay, etc.).
E. Learning Resources and Facilities
1. References and Learning Resources
An introduction to Islamic economics, by Muhammed Akram
Kahn, Published by: International Institute of Islamic Thought and
Essential References
Institute of Islamic Studies, 193 Pages. Available at:
https://books.google.com.sa
Introduction to Islamic Economy, theory and applications written by
Supportive References
Hossin Askari, Iqbal and Mirrikor
Electronic Materials http://lipsys.uoh.edu.sa:2048/login
Other Learning Materials http://www.uoh.edu.sa/blackboard-tutorial.aspx
6
2. Required Facilities and equipment
Items Resources
facilities Suitable classrooms.
(Classrooms, laboratories, exhibition rooms,
simulation rooms, etc.)
Technology equipment projector, smart board.
(projector, smart board, software)
Other equipment None
(depending on the nature of the specialty)
F. Assessment of Course Quality
Assessment Areas/Issues Assessor Assessment Methods
Chairperson & Peers
Direct
(PAAAP) Class Observation
(using class observation
Effectiveness of teaching
form)
Students Course Evaluation
Indirect
Survey (CES)
Reviewer
Effectiveness of
Unified Mid-term/Final Direct
Students’ assessment
Exams
Instructor (Course Report).
Direct
Quality of learning resources Students Course Evaluation
Indirect
Survey
Instructor Direct Method
(CLOs Assessment Form for Direct
The extent to which CLOs have
all assessment methods)
been achieved
Students CLOs assessment Indirect
Survey
Other
Assessors (Students, Faculty, Program Leaders, Peer Reviewer, Others (specify)
Assessment Methods (Direct, Indirect)
G. Specification Approval
Dept. Council of Economics & Finance
COUNCIL /COMMITTEE
Meeting 3- Year 2023
REFERENCE NO.
12-11-2023
DATE
Prepared By: Dr. Abdul-karim Amer 10/11/2023
