Introduction to Islamic Economics: Theory and Application

book cover: Introduction to Islamic Economics
January 01, 2015

Hossein Askari, Iran Professor of International Business and International Affairs

Introduction to Islamic Economics: Theory and Application (Wiley, 2015) provides an overview of the organizing principles and fundamentals of an Islamic economy. With deep discussion of the characteristics, rationale, key institutions, objectives, and instruments at work, the authors — Hossein Askari, Zamir Iqbal, and Abbas Mirakhor — address the core economic principles underlying a system based on the foundational teachings of Islam, and examine the implications for economic policies. Social welfare, economic justice, market functionality, efficiency, and equity are explored from an Islamic perspective, and the role and instruments of fiscal and monetary policy in Islamic systems are used to illustrate contemporary applications.

The Islamic financial system is expanding quickly, and those looking to increase their relevance in a changing economic landscape must get up to speed. Introduction to Islamic Economics provides a comprehensive overview of underlying economic system offering a deeper understanding of the feature of the system.

About the Author

Hossein G. Askari

Professor Askari received his B.S. in Civil Engineering, attended the Sloan School of Management and received his Ph.D in Economics from the Massachusetts Institute of Technology.