ECON454 Islamic Economics
Syllabus | International University of Sarajevo - Last Update on Sep 09, 2025
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Economics
Admir Mešković
Course Lecturer
Course Objectives
This course allows the student to develop a critical understanding of the development of Islamic economic and finance theory and become more appreciative of the contributions made by Muslim thinkers. Other than referring to the Quran and Sunnah as the key referral materials, this course also discusses the related theories and the current economics and finance issues from both the conventional and Islamic point of view.
Learning Outcomes
After successful completion of the course, the student will be able to:
Course Materials
Required Textbook
Hassan, M. K., Shaikh, S. A., & Kayhan, S. (2020). Introduction to Islamic banking and finance: an economic analysis. World Scientific. Dusuki, Asyraf Wajdi. "Islamic financial system: Principles & operations." Kuala Lumpur: ISRA (2011).
Additional Literature
Additinal materials will be provided if necessary.Teaching Methods
The methods include lectures (which may involve power point presentation
Video and audio aids)
Student presentations
Projects and class discussions.
Weekly Topics
| Week | Topic | Readings / References |
|---|---|---|
| 1 | Introductory Lecture | |
| 2 | Introduction to Islamic Economics and Finance | Ch. 01 |
| 3 | Development of Islamic financial system | Special reading handout |
| 4 | Key contracts and product structures in Islamic economics | Ch. 03 |
| 5 | Economics of islamic banking product structures | Ch. 04 |
| 6 | Islamic Equity Investments | Ch. 05 |
| 7 | Islamic Capital and Money Markets | Ch. 06 & Ch. 07 |
| 8 | Mid-Term Exam | |
| 9 | Takaful | Ch. 08 |
| 10 | Islamic Social Finance | Ch. 10 |
| 11 | Islamic Economics and Finance in the Digital Era | Ch. 11 |
| 12 | Mainstreaming Islamic Economics: The Way Forward | Ch. 12 |
| 13 | Islamic Economics and Sustainability | Special reading handout |
| 14 | Paper Presentations | |
| 15 | Paper Presentations |
Course Schedule (All Sections)
| Section | Type | Day 1 | Venue 1 | Day 2 | Venue 2 |
|---|---|---|---|---|---|
| ECON454.1 | Course | Tuesday 14:00 - 16:50 | B F1.22 | - | - |
Office Hours & Room
| Day | Time | Office | Notes |
|---|---|---|---|
| Monday | 15:00 - 17:00 | B F1.12 | |
| Tuesday | 12:00 - 15:00 | B F1.12 |
Assessment Methods and Criteria
Assessment Components
Final Exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4 5 6
Mid-Term Exam
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4 5
Project Paper
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4 5 6
Class Participation
AI: Not AllowedAlignment with Learning Outcomes : 1 2 3 4 5 6
IUS Grading System
| Grading Scale | IUS Grading System | IUS Coeff. | Letter (B&H) | Numerical (B&H) |
|---|---|---|---|---|
| 0 - 44 | F | 0 | F | 5 |
| 45 - 54 | E | 1 | ||
| 55 - 64 | C | 2 | E | 6 |
| 65 - 69 | C+ | 2.3 | D | 7 |
| 70 -74 | B- | 2.7 | ||
| 75 - 79 | B | 3 | C | 8 |
| 80 - 84 | B+ | 3.3 | ||
| 85 - 94 | A- | 3.7 | B | 9 |
| 95 - 100 | A | 4 | A | 10 |
Late Work Policy
Information about late submission policies will be shared during class and posted in this section. Please check back for official guidelines.
ECTS Credit Calculation
📚 Student Workload
This 6 ECTS credit course corresponds to 150 hours of total student workload, distributed as follows:
Lecture hours
45 hours ⏳ (15 week × 3 h)
Home study
15 hours ⏳ (15 week × 1 h)
Project Paper
30 hours ⏳ (3 week × 10 h)
Mid-Term Exam Study
30 hours ⏳ (1 week × 30 h)
Final Exam Study
30 hours ⏳ (1 week × 30 h)
150 Total Workload Hours
6 ECTS Credits
Course Policies
Academic Integrity
All work submitted must be your own. Plagiarism, cheating, or any form of academic dishonesty will result in disciplinary action according to university policies. When in doubt about citation practices, consult the instructor.
Attendance Policy
Students are expected to adhere to the attendance requirements as outlined in the International University of Sarajevo Study Rules and Regulations. Excessive absences, whether excused or unexcused, may impact academic performance and eligibility for assessment. Mandatory sessions (e.g., labs, workshops) require attendance unless formally exempted. For detailed policies on absences, documentation, and penalties, please refer to the official university regulations.
Technology & AI Policy
Laptops/tablets may be used for note-taking only during lectures. Phones should be silenced and put away during all class sessions. Audio/video recording requires prior permission from the instructor.
Artificial Intelligence (AI) Usage: The use of AI tools (e.g., ChatGPT, Copilot, Gemini) varies by assessment component. Please refer to the AI usage indicator next to each assessment item in the Assessment Methods and Criteria section above. Submitting AI-generated content as your own work, where AI is not explicitly allowed, constitutes an academic integrity violation.
Communication Policy
All course-related communication should occur through official university channels (institutional email or SIS). Emails should include [ECON454] in the subject line.
Academic Quality Assurance Policy
Course Academic Quality Assurance is achieved through Semester Student Survey. At the end of each academic year, the institution of higher education is obliged to evaluate work of the academic staff, or the success of realization of the curricula.
Learning Tips
Be prepared to contribute thoughtfully during class discussions, labs, or collaborative work. Active participation deepens understanding and encourages critical thinking.
Complete assigned readings or prep materials before class. Take notes, highlight key ideas, and jot down questions. Aim to grasp core concepts and their applications—not just facts.
Use course frameworks or methodologies to analyze problems, case studies, or projects. Begin early to allow time for reflection and refinement. Seek feedback to improve your work.
Don’t hesitate to reach out when something is unclear. Use office hours, discussion boards, or peer networks to clarify concepts and stay on track.
Syllabus Last Updated on Sep 09, 2025 | International University of Sarajevo
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Referencing Curricula Print this page
| Course Code | Course Title | Weekly Hours* | ECTS | Weekly Class Schedule | ||||||
| T | P | |||||||||
| ECON454 | Islamic Economics | 3 | 0 | 6 | ||||||
| Prerequisite | ECON112 | It is a prerequisite to | - | |||||||
| Lecturer | Admir Mešković | Office Hours / Room / Phone | Monday: 15:00-17:00 Tuesday: 12:00-15:00 |
|||||||
| ameskovic@ius.edu.ba | ||||||||||
| Assistant | Assistant E-mail | |||||||||
| Course Objectives | This course allows the student to develop a critical understanding of the development of Islamic economic and finance theory and become more appreciative of the contributions made by Muslim thinkers. Other than referring to the Quran and Sunnah as the key referral materials, this course also discusses the related theories and the current economics and finance issues from both the conventional and Islamic point of view. | |||||||||
| Textbook | Hassan, M. K., Shaikh, S. A., & Kayhan, S. (2020). Introduction to Islamic banking and finance: an economic analysis. World Scientific. Dusuki, Asyraf Wajdi. "Islamic financial system: Principles & operations." Kuala Lumpur: ISRA (2011). | |||||||||
| Additional Literature |
|
|||||||||
| Learning Outcomes | After successful completion of the course, the student will be able to: | |||||||||
|
||||||||||
| Teaching Methods | The methods include lectures (which may involve power point presentation, video and audio aids), student presentations, projects and class discussions. | |||||||||
| Teaching Method Delivery | Face-to-face | Teaching Method Delivery Notes | ||||||||
| WEEK | TOPIC | REFERENCE | ||||||||
| Week 1 | Introductory Lecture | |||||||||
| Week 2 | Introduction to Islamic Economics and Finance | Ch. 01 | ||||||||
| Week 3 | Development of Islamic financial system | Special reading handout | ||||||||
| Week 4 | Key contracts and product structures in Islamic economics | Ch. 03 | ||||||||
| Week 5 | Economics of islamic banking product structures | Ch. 04 | ||||||||
| Week 6 | Islamic Equity Investments | Ch. 05 | ||||||||
| Week 7 | Islamic Capital and Money Markets | Ch. 06 & Ch. 07 | ||||||||
| Week 8 | Mid-Term Exam | |||||||||
| Week 9 | Takaful | Ch. 08 | ||||||||
| Week 10 | Islamic Social Finance | Ch. 10 | ||||||||
| Week 11 | Islamic Economics and Finance in the Digital Era | Ch. 11 | ||||||||
| Week 12 | Mainstreaming Islamic Economics: The Way Forward | Ch. 12 | ||||||||
| Week 13 | Islamic Economics and Sustainability | Special reading handout | ||||||||
| Week 14 | Paper Presentations | |||||||||
| Week 15 | Paper Presentations | |||||||||
| Assessment Methods and Criteria | Evaluation Tool | Quantity | Weight | Alignment with LOs | AI Usage |
| Final Exam | 1 | 40 | 1-6 | Not Allowed | |
| Semester Evaluation Components | |||||
| Mid-Term Exam | 1 | 30 | 1-5 | Not Allowed | |
| Project Paper | 1 | 20 | 1-6 | Not Allowed | |
| Class Participation | 1 | 10 | 1-6 | Not Allowed | |
| *** ECTS Credit Calculation *** | |||||
| Activity | Hours | Weeks | Student Workload Hours | Activity | Hours | Weeks | Student Workload Hours | |||
| Lecture hours | 3 | 15 | 45 | Home study | 1 | 15 | 15 | |||
| Project Paper | 10 | 3 | 30 | Mid-Term Exam Study | 30 | 1 | 30 | |||
| Final Exam Study | 30 | 1 | 30 | |||||||
| Total Workload Hours = | 150 | |||||||||
| *T= Teaching, P= Practice | ECTS Credit = | 6 | ||||||||
| Course Academic Quality Assurance: Semester Student Survey | Last Update Date: 27/09/2025 | |||||||||