To read the full version of this content please select one of the options below:

Learning and teaching of Islamic economics: conventional approach or Tawhidi methodology

Toseef Azid (Department of Finance and Economics, Qassim University , Buraydah, Saudi Arabia)
Zafar Kayani (Department of Economics, Trent University , Oshawa, Canada)
Osamah Hussien Rawashdeh (College of Business and Economics, University of Qassim , Buraydah, Saudi Arabia)
Nasim Shah Shirazi (College of Islamic Studies, Hamad Bin Khalifa University , Qatar)

International Journal of Ethics and Systems

ISSN: 2514-9369

Article publication date: 3 February 2021

Issue publication date: 3 April 2021

Downloads
198

Abstract

Purpose

This paper aims to discuss the methodology of mainstream Islamic economics and also gives an alternative approach which is yet not very much taught in the different academic institutions, i.e. Tawhidi methodology. From the curriculum of the different academic institutions and also from the literature, it is observed that mainstream Islamic economics is the imitation of the conventional economics and mainly neoclassical economics. Maqasid-i-Shari’ah is not matching with the Tawhidi one.

Design/methodology/approach

It is based on the self-observations of the authors where they taught during their academic career.

Findings

This study found that the mainstream Islamic economics could not be able to solve the local and global issues because it is the replica of the conventional economics only there are some injunctions of Shari’ah.

Research limitations/implications

This study gives the guideline to the student of Islamic economics that how they will be able to understand the methodology of Islamic economics and finance.

Practical implications

It provides the guidance to the academicians and policymakers, especially those belonging to the Muslim countries.

Social implications

It also provides the glimpses to the social scientist about the solutions of the social and economic issues at the local and global levels.

Originality/value

It is an original effort.

Keywords

Citation

Azid, T., Kayani, Z., Rawashdeh, O.H. and Shirazi, N.S. (2021), "Learning and teaching of Islamic economics: conventional approach or Tawhidi methodology", International Journal of Ethics and Systems, Vol. 37 No. 2, pp. 281-300. https://doi.org/10.1108/IJOES-12-2019-0191

Publisher

:

Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited