BRIEF NOTES ON ISLAMIC ECONOMICS

Islamic economics refers to the knowledge of economics or economic activities and processes in terms of Islamic principles and teachings. Islam has a set of special moral norms and values about individual and social economic behavior. Therefore, it has its own economic system, which is based on its philosophical views and is compatible with the Islamic organization of other aspects of human behavior: social and political systems.Islamic economics is a broad field, related to the more specific subset of Islamic commercial jurisprudence - fiqh al-muamalaat. It is also an ideology of economics similar to the labour theory of value, which is "labour-based exchange and exchange-based labour”. While there are differences between the two, Islamic economics still tends to be closer to labor theory, than subjective theory.This small book consists of short notes on some important topics and aspects of Islamic Economics for the benefit of students who are studying this subject in their degree level. It will help them to easily understand the concepts and do well in the exams.