IEF 313 - İslam İktisat Tarihi

Aims of the course:

1. First, to familiarize the third year University students with the history of Islamic economics, starting from the beginning (the economic practices from the stories of some eminent Prophets and Messengers of Allah (T) such as Adam (S) Yusuf (S), Shu'ayb (S) Moses (S) as drawn from the Holy Qur'an).
2. Second, to highlight some economic teachings, from the Holy Qur'an, the Sacred Sunnah (sayings, practices and Approvals of the Prophet Mohammed (S), and the economic practices of the Rightly Guided Caliphs (R).
3. Thirdly, to highlight some of the major contributions towards the development of Islamic economics over time, like the new or innovative practices during the different major Islamic dynasties (Umayyad, Abbasid, Andalusian and Ottoman caliphates).
4. Third, to point out some of the economic contributions of early Muslim scholars, like the four Sunni Imams (Abu-Hanihah, Malik Ibn Anas, Safi'i and Ahmed Ibn Hanbal), Abu Yusuf, Al-Shaybani and other jurists.
5. Fourth, to explore and analyse the economic ideas of some of the early Muslim scholars such Al-Ghazali, Ibn Taymiyah, Ibn Khaldoun and Al-Maqrizi as and defines various phases of the development of Islamic economics.
6. Fifth, to explore and analyse the economic ideas of some of the contemporary Scholars, who contributed to the revival of Islamic economics in the 19^th and 20^th Centuries such as Shah Waliullah, Abul A'la al-Mawdudi, Mohammed Hamidullah, Malik Bennabi, Abdul Aziz Al-Naggar, Umer Chapra, Nejatullah Siddiqi, Yusuf Al-Qaradawi, Monzer Kahf, Muhammad Abdul Mannan and Rafic Al-Masri, Etc.

The course is expected to assist the students in developing their understanding of Islamic economic history and how it evolved over time.

1. üHistory of Islamic Economics is  a comprehensive set of information, giving details on ideas, stories, theories and practices that have been advanced and presented in the Sources of Islam and practiced by the Prophets of Allah (T) his successors and by Muslims over the ages.
2. üThis includes the Qur’anic Stories and instructions that have economic repercussions, such as the stories of some Prophets and Qur’anic instructions on what to do about some economic and financial activities.
3. üIt also includes the practice of the Prophet Mohammed (S), his Rightly Guided Caliphs and his companions, and the major contributions of some of the Great Early and Contemporary Muslim scholars, dynasties and rulers and also some of the recent development in the field.
4. cope of the course, the economic history of Muslims, including the period of the Prophet (saas), the period of the caliphs, the Umayyad and Abbasid periods, the Ottoman period, and the 20th century, will be covered.

Ahmed, A. (1999). Economic thought of Prophet Muhammad (PBUH): A conceptual study. Islamic Economic Studies, 6(1), 23-45.

Al-Suwailem, S. (2019). Islamic economics: Principles and applications. International Institute of Islamic Thought (IIIT).

Chachi, A. (2017) Book Review of History of Islamic Economic Thought: Contributions of Muslim Scholars to Economic Thought and Analysis, by Abdul Azim Islahi, Edward Elgar, Cheltenham, UK. 2014. Pp. viii+125. published in MWBR, available at:  https://iszu.academia.edu/AbdelkaderChachi

Chapra, M. U. (2000). The future of economics: An Islamic perspective. The Islamic Foundation.

El-Ashker, A.F. and R. Wilson (2006), Islamic economics: A Short History, Leiden, Boston

Hadith Collection: Sahih Bukhari & Sahih Muslim. (n.d.). Retrieved from https://sunnah.com

Islahi, A.A. (2005), History of Islamic Economic Thought: Contributions of Muslim Scholars to Economic Thought and Analysis. Cheltenham, UK. Edward Elgar.

Khan, M. F. (1994). Prophet Yusuf's (AS) economic model: Lessons in financial management and planning. Journal of Islamic Economics, 10(2), 45-63.

Nasr, S. H. (2001). Islamic science: An illustrated study. World Wisdom.

Quran and Hadith on Economics: Islamic Economic Project

Rahman, F. (1980). Major themes of the Qur'an. University of Chicago Press.

Siddiqi, M. N. (1979). The economic enterprise in Islam. Islamic Foundation.

Tabari, A. J. (1989). The history of al-Tabari (Vol. 3): The Children of Israel. State University of New York Press.

The Noble Qur'an (n.d.). Retrieved from https://quran.com

Yasin, H.M. and Khan A.Z. (2015) Fundamentals of Islamic Economics and Finance, Islamic Research and Training Institute Islamic Development Bank, Jeddah