İEF 657 - Economies of Islamic Countries

The aim of the course is to analyze comparative trends of economies of Islamic countries with the developed economies and world averages. A secondary objective of the course is to internalize the basic economic concepts in these analyzes. This course also aims to teach each student the assessment and presentation techniques of a national economy.

Islamic countries are composed of 57 member countries of the Organization of Islamic Cooperation (OIC). They are geographically distributed over a large area. Geographical conditions, raw material dependence, income status and characteristics determined by the colonial past are also reflected in their socio-economic structures.
Almost all Islamic countries have been trying to develop their economies since the 20th century. Globalization has increased in the world since the end of the 20th century, there has been a rapid development in communication and information technologies and China has become an important part of the world trade system as a new global actor. All these developments put countries under competitive pressure. Changes in global, social, and demographic environmental conditions force countries to change. The success of countries' development efforts depends on their ability to respond appropriately to these changes and adapt to new environmental conditions.
 This course includes both comparative global developments, measuring the performances of Islamic countries, analyzing the causes of lower performance than developed countries, and presenting the areas of future adaptation and reform within the framework of certain concepts and techniques.

• OIC Economic Outlook 2018 Challenges and Opportunities towards Achieving the OIC-2025, Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), October 2018
• UNDP Human Development Reports, http://hdr.undp.org/
• Islamicity Index http://islamicity-index.org/wp/indices2015/
• OIC Economic Outlook 2017, Industrial Development for Structural Transformation, Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), October 2017
• Muslim Civilization: The Causes of Decline and the Need for Reform, M. Umer Chapra, The Islamic Foundation, UK, 2008,
• Ulusların Düşüşü: Güç, Zenginlik ve Yoksulluğun Kökenleri, Daron Acemoğlu ve James A. Robinson, Doğan Kitap, 32. Baskı, Nisan 2018