Undergraduate Programme and Module Handbook 2018-2019 (archived)
Module ECON3331: Islamic Economics and Finance
Department: Business School (Economics and Finance)
ECON3331:
Islamic Economics and Finance
Type |
Tied |
Level |
3 |
Credits |
20 |
Availability |
Available in 2018/19 |
Module Cap |
None. |
Location |
Durham
|
Tied to |
N402 |
Tied to |
N403 |
Tied to |
N405 |
Tied to |
NN43 |
Tied to |
N302 |
Tied to |
N304 |
Tied to |
N401 |
Tied to |
N404 |
Tied to |
N406 |
Tied to |
NN42 |
Tied to |
N204 |
Tied to |
N206 |
Tied to |
N305 |
Tied to |
N306 |
Tied to |
N307 |
Prerequisites
Corequisites
Excluded Combination of Modules
Aims
- The module seeks:
- To provide students with a knowledge and understanding of the foundational issues in Islamic economics;
- To provide students with a knowledge and understanding of the principles of Islamic finance and accounting;
- To develop students' knowledge of the operation mechanism of Islamic banks and financial institutions;
- To develop students' knowledge of the structure of Islamic
financial and capital markets and institutions;
- To provide students with the opportunity to develop knowledge and
understanding of theoretical and practical aspects of Islamic finance
and capital market;
- To encourage students to analyse the role of regulation and of the Shari’ah supervision in Islamic financial institutions;
- To develop students' understanding of the existence and operations
of Islamic non-banking financial institutions;
- To provide students with the opportunity to develop an
understanding to critically assess theoretical issues and recent developments in Islamic finance.
Content
- Background and History of Islamic Economics and
Finance
- An Introduction to Islamic Economics
- Foundation and Principles of Islamic
Economics
- Islamic Moral Economy
- Islamic Fiscal and Monetary Policy
- Principles of Islamic Finance and Islamic Financial
Transactions
- Islamic Banking Models and Products
- Islamic Insurance (takaful) models
- Risk Management Issues in Islamic Finance
- Regulatory Issues in Islamic Finance Industry
- Islamic Capital and Financial Markets: An
Overview
- Islamic Capital Markets: Operations
- Islamic Capital Markets: Instruments
- Islamic Bonds (Sukuk)
- Islamic Corporate Governance
- Islamic Corporate Social Responsibility
- Critical Assessment of Developments and Challenges in Islamic Finance
Learning Outcomes
- On completion of this module students should have:
- knowledge of the way in which Islamic banking and financial
institutions operate;
- an understanding of the functions of Islamic financial
institutions, Islamic financial and Islamic capital markets and appreciation of the role of Islamic law, corporate governance and Shari’ah regulation;
- knowledge and understanding of key issues in risk management
practices;
- knowledge and understanding of key issues in sukuk (Islamic bonds)
- an understanding of the importance of Islamic ethics in the
shaping and operations of financial markets.
- On completion of this module students should have:
- developed technical and academic skills to distinguish and
analyse the operation of Islamic financial instruments, institutions
and markets;
- the ability to examine practical issues, practice
problem-solving and analysis in risk management, governance,
regulation and capital markets related issues in Islamic finance;
- developed skills to critically evaluate developments,
performance and progress of Islamic financial institutions and
markets.
- Written Communication through the summative assignment and
exam as well as formative assignment;
- Planning and Organising - observing the strict assignment
deadlines; revising relevant material in preparation for
examinations;
- Problem Solving by applying the necessary analytical and
quantitative skills, as well as the ability to utilise concepts relating to Islamic financial instruments and markets, in preparation
for exams and assignment;
- Initiative by searching relevant literature and information in preparation of the summative assignment;
- Numeracy by applying core mathematical and statistical skills
to answer a range of examination questions and also analyzing Islamic finance related data;
- Computer Literacy by word-processing the summative assignment; downloading articles and other reading material; accessing
DUO; analysing financial data provided on Zawya terminals.
Modes of Teaching, Learning and Assessment and how these contribute to
the learning outcomes of the module
- Teaching is by lectures and seminars. Learning will be based
on knowledge transfer by lectures, seminars and support for private study.
- Seminar activities and discussions will provide the technical
awareness of topics in a comprehensive form.
- Formative assessment will be by means of preparation of a written assignment (1,500 words maximum) which will provide feedback to students regarding their understanding of the main concepts and
technical treatments.
- Summative assessment will comprise a written examination to
test students' subject-specific knowledge and understanding, and a
written assignment requiring students to undertake a critical evaluation
of the chosen topic in Islamic economics and finance.
Teaching Methods and Learning Hours
Activity |
Number |
Frequency |
Duration |
Total/Hours |
|
Lectures |
20 |
1 per week |
1 hour |
20 |
|
Seminars |
8 |
4 in each of the first two terms |
1 hour |
8 |
■ |
Preparation and Reading |
|
|
|
172 |
|
Total |
|
|
|
200 |
|
Summative Assessment
Component: Assignment |
Component Weighting: 50% |
Element |
Length / duration |
Element Weighting |
Resit Opportunity |
Written assignment |
2,000 words |
100% |
same |
Component: Examination |
Component Weighting: 50% |
Element |
Length / duration |
Element Weighting |
Resit Opportunity |
Written examination |
1 hour 30 mins |
100% |
same |
Students will receive written comments on a formative written assignment of 1,500 words.
■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University