Graduate Education Institute · Islamic Economics and Finance (English) · Master
ECTS: 7.5 T+P+L: 3+0+0 Departmental Elective
Coordinator: Prof. Dr. Burhan ULUYOL
Course Objective
As one of major components of Islamic finance, students have to understand the philosophy, Shariah principles, regulatory frameworks and valuations of various instruments of Islamic Capital market.
Course Content
- Understand the regulatory framework governing Islamic money and capital markets.
- Critically analyze Islamic money and capital markets instruments based on economic and Shari’ah principles.
- Apply principles learnt to structure Islamic money and capital market instruments.
- Calculate the value and yield of Islamic money and capital market instruments.
- Demonstrate analytical and teamwork skills in analyzing and structuring Islamic money and capital market instruments.
Required Resources
- Islamic Capital Market by Obiyathulla Ismath Bacha. Wiley (2013)
- Buerhan Saiti, Aznan Hasan, Engku Rabiah Adawiah Engku Ali, (2016), Islamic Interbank Money Market: Contracts, Instruments and Their Pricing. In Islamic Capital Markets (pp. 67-100). Springer International Publishing.
Recommended Resources
ISRA (2015), Islamic Capital Markets: Principles and Practices, International Shariah Research Academy for Islamis Finance (ISRA): Kuala Lumpur.
Course Learning Outcomes
- understand the regulatory framework governing Islamic money and capital markets
- critically analyze Islamic money and capital markets instruments based on economic and Shari’ah principles
- apply principles learnt to structure Islamic money and capital market instruments
- calculate the value and yield of Islamic money and capital market instruments
- demonstrate analytical and teamwork skills in analyzing and structuring Islamic money and capital market instruments
Core Area Distribution
(34) Business and Administration%50 (46) Mathematics and Statistics%50
Teaching Methods
Question-AnswerDiscussionExercise and PracticePresentationGroup StudySelf studyProblem Solving
Assessment & Evaluation
HomeworkProject / DesignTesting (Essay / Tests: True-Falls, multiple-choice, short answer, matching)
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 16 | 3 | 48 |
| Out of Class Study Period | 16 | 6 | 96 |
| Midterm | 1 | 2 | 2 |
| Quiz | 0 | 0 | 0 |
| Assignment | 1 | 40 | 40 |
| Practice | 0 | 0 | 0 |
| Final | 1 | 3 | 3 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | Introduction and Overview of Islamic Capital Market | - |
| 2 | The Interbank Money Market | - |
| 3 | The Islamic Interbank Money Market | - |
| 4 | Bonds and Bonds market 1 | - |
| 5 | Bonds and Bonds market 2 | - |
| 6 | Sukuk and Sukuk Market 1 | - |
| 7 | Sukuk and Sukuk Market 2 | - |
| 8 | MIDTERM | - |
| 9 | Common Stock and Equity Markets | - |
| 10 | The Islamic Equities Market 1 | - |
| 11 | The Islamic Equities Market 2 | - |
| 12 | Derivatives Instruments : Products and Applications | - |
| 13 | Shariah Compliant Derivatives Instrument | - |
| 14 | Other special topics in Islamic capital market 1 | - |
| 15 | Other special topics in Islamic capital market 2 | - |
| 16 | Final exam | - |