Islamic Economics and Finance
Course Details
KTO KARATAY UNIVERSITY
İktisadi, İdari ve Sosyal Bilimler Fakültesi
Programme of Islamic Economics and Finance
Course Details
İktisadi, İdari ve Sosyal Bilimler Fakültesi
Programme of Islamic Economics and Finance
Course Details
| Course Code | Course Name | Year | Period | Semester | T+A+L | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| 4730002 | Introduction to Islamic Economics and Islamic Finance | 2 | Autumn | 3 | 3+0+0 | 6 | 6 |
| Course Type | Compulsory |
| Course Cycle | Bachelor's (First Cycle) (TQF-HE: Level 6 / QF-EHEA: Level 1 / EQF-LLL: Level 6) |
| Course Language | Turkish |
| Methods and Techniques | - |
| Mode of Delivery | Face to Face |
| Prerequisites | - |
| Coordinator | - |
| Instructor(s) | Asst. Prof. Hüseyin ERGUN |
| Instructor Assistant(s) | - |
Course Instructor(s)
| Name and Surname | Room | E-Mail Address | Internal | Meeting Hours |
|---|---|---|---|---|
| Asst. Prof. Hüseyin ERGUN | C-Z09 | [email protected] | 7968 |
Course Content
Political history, international economics, macroeconomic instruments and economic systems will be explained with the aim of transferring the contracts, works and transactions realized in financial markets and real markets, and transferring the basic philosophy of Islamic finance.
Objectives of the Course
The aim of the course is to explain the philosophy of Islamic finance in order to enable students to examine the basic concepts of Islamic finance in the historical process and to compare them with current practices in today's conditions.
Contribution of the Course to Field Teaching
| Basic Vocational Courses | X |
| Specialization / Field Courses | X |
| Support Courses | |
| Transferable Skills Courses | |
| Humanities, Communication and Management Skills Courses |
Relationships between Course Learning Outcomes and Program Outcomes
| Relationship Levels | ||||
| Lowest | Low | Medium | High | Highest |
| 1 | 2 | 3 | 4 | 5 |
| # | Program Learning Outcomes | Level |
|---|---|---|
| P1 | İslam İktisadı ve Finans alanında kuramsal ve uygulamalı bilgilere sahip olma, sahip olduğu bilgileri kullanabilme | 5 |
| P2 | İslam İktisadı ve Finans alanında edindiği bilgi, beceri ve yetkinlikleri kullanarak meseleleri tanımlama, veri toplama, değerlendirme, analiz etme, yorumlama ve çözüm önerisi geliştirebilme | 5 |
| P3 | İslam İktisadı ve Finans alanıyla ilgili farklı bilgi kaynaklarına erişip sayısal analiz ve araştırma yapabilme | 5 |
| P4 | Disiplin içi, çok disiplinli veya çok kültürlü gruplarda ve bireysel çalışabilme | 4 |
| P5 | Ahlaki değerler ve mesleki sorumluluk bilinci ile hareket edebilme | 5 |
| P6 | Alan uygulamalarının, evrensel ve toplumsal etkileri ile hukuki sonuçlarını bilme | 3 |
| P7 | Öğrenim dilinde yazılı ve sözlü iletişim kurabilme, en az bir yabancı dil bilgisine sahip olabilme | 2 |
Course Learning Outcomes
| Upon the successful completion of this course, students will be able to: | |||
|---|---|---|---|
| No | Learning Outcomes | Outcome Relationship | Measurement Method ** |
| O1 | Explains the fundamental principles and historical development of Islamic economics. | P.1.1 | 1 |
| O2 | Conducts financial analyses using Islamic finance instruments and products. | P.1.2 | 1 |
| O3 | Identifies problems related to Islamic economics and finance. | P.2.1 | 1 |
| O4 | Accesses academic articles, books, and other information sources related to Islamic economics and finance. | P.3.1 | 1 |
| ** Written Exam: 1, Oral Exam: 2, Homework: 3, Lab./Exam: 4, Seminar/Presentation: 5, Term Paper: 6, Application: 7 | |||
Weekly Detailed Course Contents
| Week | Topics |
|---|---|
| 1 | Philosophy of finance in Islam |
| 2 | Makasid-i Sharia, Medina Market and Consumer Protection Principle, Hisbe Organization |
| 3 | What is the Financial System, What are Financial Markets? Capitalism, Socialism and Islamic Economy, Basic prohibitions in Islamic Economy, Concept of Ibaha, Financial Speculations, Bretton Woods system. |
| 4 | Riba-Interest Prohibition, interest in credit and debt, different approaches to interest, prohibition of interest in heavenly religions |
| 5 | Riba-Interest Prohibition Interest on credit and debt Different approaches to interest Prohibition of interest in heavenly religions Contracts |
| 6 | Risk Sharing and Risk Management Time Value of Money The Birth and Use of Money Formation of Financial Currency from Islamic Perspective |
| 7 | Commerce in Islamic Law Bey' Types (Bey' İne, Bey' Muaccel, Bey' Bitmanı Açıl, Bey' Deyn, Bey' Sarf, Bey'Arbun) |
| 8 | Karz-i Hasen Debt and Borrowing - upon default |
| 9 | General Information About Conventional and Islamic Markets, Deposit Banks and Participation Banks, Funding of Trade, Agriculture and Industry |
| 10 | Bey'ül Emanat (Tevliye, Vedia, Murabaha) Müsaveme |
| 11 | Forward Sales: Selem-Istisna Collateral-Pledge |
| 12 | Risk management, agricultural commodity trading in Murabaha and Salam |
| 13 | Icare (Renting) and Leasing Icare Types, Risk Management in Usage Agreements |
| 14 | Sukuk and Securitization Mudaraba Sukuk Musharakah Sukuk Exception Sukuk Sukuk Issuance Applications Today |
Textbook or Material
| Resources | Muhammed Ayub ( 2017 ), İslami Finansı Anlamak- İktisat Yayınları |
| Atilla Yanpar, İslami Finans - Scala Yayınları | |
| Contracts and Deals in İslamic Finance: A Users Guide to Cash Flows, Balance Sheets and Capital Structeres- Hussain Kureshi, Mohsin Hayat, John Wiley & Sons |
Evaluation Method and Passing Criteria
| In-Term Studies | Quantity | Percentage |
|---|---|---|
| Attendance | - | - |
| Course Specific Internship (If Any) | - | - |
| Homework | 1 | 20 (%) |
| Presentation | - | - |
| Projects | - | - |
| Midterms | 1 | 30 (%) |
| Final Exam | 1 | 50 (%) |
| Total | 100 (%) | |
ECTS / Working Load Table
| Quantity | Duration | Total Work Load | |
|---|---|---|---|
| Course Week Number and Time | 14 | 3 | 42 |
| Out-of-Class Study Time (Pre-study, Library, Reinforcement) | 14 | 2 | 28 |
| Midterms | 1 | 30 | 30 |
| Quiz | 0 | 0 | 0 |
| Homework | 1 | 30 | 30 |
| Practice | 0 | 0 | 0 |
| Laboratory | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Workshop | 0 | 0 | 0 |
| Presentation/Seminar Preparation | 0 | 0 | 0 |
| Fieldwork | 0 | 0 | 0 |
| Final Exam | 1 | 50 | 50 |
| Other | 0 | 0 | 0 |
| Total Work Load: | 180 | ||
| Total Work Load / 30 | 6 | ||
| Course ECTS Credits: | 6 | ||
Course - Learning Outcomes Matrix
| Relationship Levels | ||||
| Lowest | Low | Medium | High | Highest |
| 1 | 2 | 3 | 4 | 5 |
| # | Learning Outcomes | P1 | P2 | P3 |
|---|---|---|---|---|
| O1 | Explains the fundamental principles and historical development of Islamic economics. | 5 | 4 | 4 |
| O2 | Conducts financial analyses using Islamic finance instruments and products. | 5 | 4 | 3 |
| O3 | Identifies problems related to Islamic economics and finance. | 5 | 4 | 4 |
| O4 | Accesses academic articles, books, and other information sources related to Islamic economics and finance. | 4 | 4 | 3 |