Islamic Microeconomics: An Introduction

This book demonstrates how modern microeconomic tools and theories can be applied to Islamic assumptions regarding economics and finance, bridging the gap between the two fields. It offers extensive literature reviews and demonstrates how contract theory can facilitate a deeper analysis of Islamic financial securities.

Format: Hardback
Length: 98 pages
Publication date: 01 November 2023
Publisher: Taylor & Francis Ltd

This groundbreaking book serves as a vital bridge between Islamic and conventional economics, offering a unique perspective by demonstrating how modern tools and theories of microeconomics can be effectively applied to Islamic assumptions regarding economics and finance. In contrast to the prevalent tendency among proponents of Islamic economics and finance to rely on qualitative and normative approaches grounded in idealistic assumptions, this book showcases a groundbreaking approach that involves constructing analytical models of Islamic economics and finance and comparing their implications with those prevalent in the contemporary world. Moreover, this comprehensive book provides extensive literature reviews that dispel the notion that the gap between Islamic and conventional economics and finance is as vast as previously believed, enabling individuals with a keen interest in both fields to actively participate in the ongoing discourse between these two disciplines.

The authors develop a comprehensive framework and apply it to fundamental concepts in consumer theory. Subsequently, they delve into more advanced microeconomic ideas, culminating in practical demonstrations of how contract theory can facilitate a deeper analysis and understanding of Islamic financial securities. A diverse range of academic literature from both Islamic and conventional economics and finance is extensively referenced to enhance the reader's appreciation for both fields and to inspire future research that compares these two domains in a more objective and insightful manner.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367330668