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ISD 126 Introduction to Islamic Economics

ND1 levelSocial Sciences19 topics

ISD 126 covers 19 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Concept and fundamental principles of Islamic economic system
  2. Nature and development of Islamic economic thought
  3. Consumer behavior: conventional and Islamic perspectives
  4. Theory of production
  5. Islamic firm vs non-Islamic firm
  6. Market mechanisms from the Islamic perspective
  7. Concept and principles of Islamic economic system
  8. Islamic and conventional economic systems compared
  9. Shari’ah and economic behaviour
  10. Core concepts in Islamic economics
  11. Objectives of Islamic economic system
  12. Contemporary economic issues in Islam
  13. Classical and contemporary scholars in Islamic economics
  14. Consumer behaviour: conventional and Islamic perspectives
  15. Islamic theory of production
  16. Islamic firm versus non-Islamic firm
  17. Market mechanism in Islam
  18. Ethics and regulation of market transactions
  19. Hisbah and state role in the market

A sample from this course

One topic, as StudyPath teaches it.

Concept and fundamental principles of Islamic economic system

The Islamic economic system is built on the principle that economic activity must be consistent with Shariah (Islamic law). It seeks to promote social justice, prohibit exploitation, and encourage productive, ethical behaviour. Mastering its core concepts—such as the prohibition of riba (interest), the requirement for risk sharing, and the emphasis on equity—is essential for the NUC CCMAS, NBTE, and NCCE exams.

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