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Dr. Jamal Badawi Presents

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Islam in 176 Hours

This material was obtained by permission from Reading Islam and Dr. Jamal Badawi

G) Economic System of Islam

1) Introduction

Religion and Economics (4) Summary of the New Series (1) 
 Muslim Economists before Adam Smith (6) Islamic Economic System (3)
Methodology of Study (2) Difficulty of Research (3)
Impact on Economic Activities (2)  Ideological Basis (8)

2) Property Rights

A General Look at Property Rights (2) Summary of the Last Program (2)
 Levels of Property Rights (2) Ultimate Ownership vs. Trusteeship (3)
Claims on Property (4)  Limits of Property Rights (4)
Ethics of Property Rights (5) Legitimate Acquisition of Property (6)

3) Consumption

Consumption Theory of the West (4)  Today’s Topics and the Last Three Topics (2)
How Does the Islamic Approach Differ? (1) Marginal Analysis and Buying Decision (2)
Time Perspectives of Maximization (4) Success: Results or Means? (3)
Ethics of Consumption (5) Economic Goods (Tayyibat) (5)

4) Production and Productivity — I

 Conceptual Foundation (3) Summary of the Last Program (2)
 Documentation from the Qur’an (9)  Islamic Revival and “Progress” (1)
Understanding “Natural Laws” (7)  Exploring the Universe (2)
 The Qur’an on Learning and Reading (5)

5) Production and Productivity — II

Islam and Science (3) Summary of the Last Program (1)
The “Scientific Method” (600 Years BC) (3)  Qur’anic Stimulus for Experimentation (5)
 Learning and Research Centers (4) 500 Years of Scientific Prominence (4)
 Source of Modern Science in Europe (3) Impact of Muslims on the Renaissance (4)
 Other Specific Historical Indicators (3)

6) Production and Productivity — III

 Islam and European Civilizations (3)  Summary of the Last Program (2)
 Muslim Spain: A Thriving Civilization (7)  Impact of the Crusades (5)
 Muslim Contributions to Chemistry (6)  Muslim Contributions to Astronomy (6)

7) Production and Productivity — IV

Arabic Numerals and the Zero (2) Summary of the Last Program (1)
Muslim Contributions to Geometry (3)  Muslim Contributions to Algebra (3)
 Other Prominent Muslim Mathematicians (3)  Muslim Contributions to Trigonometry (3)
 Other Contributions to Physics (7)  Muslim Contributions to Physics (6)

8) Production and Productivity — V

Islam and Medicine (3) Summary of the Last Program (1)
 Ibn Sina (Avicenna) (3)  Early Muslim Contributions (4)
 Other Prominent Muslim Physicians (2) Muslims and Surgery (3)
Early Permanent Hospitals (5) Early Field and Mobile Hospitals (4)
 Early Permanent Hospitals (3)

9) Production and Productivity — VI

Muslim Contributions to Geography (5)  Summary of the Last Program (3)
 Discovery of the Spherical Nature of the Earth (4) Muslims and the Discovery of America (7)
 Muslim Contributions to Manufacturing (3) Muslim Contributions to Agriculture (3)
Muslims and Banks, Coins, Checks, and Credits (1)  Muslim Contributions to Trade and Commerce (2)

10) Production and Productivity — VII

Muslim Contributions to Political Sciences and Sociology (6)  Summary of the Last Program (2)
Muslim Contributions to Art and Architecture (4)  Muslim Contributions to History (4)
The Basic and Public Library (3)  The Burning of the Library at Alexandria (3)
Reasons for Mentioning Muslim Discoveries (4)  What Happened to the Books? (3)
 The Qur’an Teaches People to Progress and Develop (1)

11) Production and Productivity — VIII

Is Interest a Must for Economic Life? (3) Land Ownership in Islam (6)
 Prohibition of Interest in Islam (4) Prohibition of Interest: A Comparative Look (3)
 Does Islam Prohibit Only Excessive Interest? (4) Is Usury Different from Interest? (3)
Consumption Loans vs. Production Loans (3)  Is Interest a Form of Trade? (2)

12) Production and Productivity — IX

 Types of Riba (5) Summary of the Last Program (3)
 Possible Reasons for the Prohibition of Riba (8)  Is There a Necessity That May Justify Leniency? (5)
 Non-Interest Alternatives (4)  Difference between Borrowing and Partnership (3)
 What If People Want Varying Degrees of Risk? (1)

13) Production and Productivity — X

Riba and Alternative Investments (3) Summary of the Last Program (2)
Consumption Loans (3) Sharing Risk in Riba and in Employment (7)
Supply, Demand, and Price Determination (5) Public Debt in the Absence of Interest (5)
 Withholding Main Necessities (2)

14) Zakah and Just Distribution

 Distribution and Brokerage (2)  Summary of the Last Program (3)
Means of Zakah (4) Means of Just Distribution (1)
Difference from Taxes (5) Comprehensiveness of Zakah (6)
Is 2.5% Too Small? (3) Zakatable Wealth: Capital or Income? (3)
Why Is Zakah a Fixed Percentage? (2)

15) Charity and Just Distribution

 Additional Charity in the Qur’an and Sunnah (6) Summary of the Last Program (3)
An Ancient Family Allowance System (5)  Special Occasions for Charity (6)
 Other Aspects of Distributive Justice (2) Help in Emergencies (5)
Social Security for Non-Muslim Citizens (3)

Inheritance and Just Distribution

A Historical Review (4) Summary of the Last Program (2)
Male and Female Shares (6) Principles of Inheritance in Islamic Law (5)
 The Maximum to Bequeath (4)  Priorities in Distribution (5)
 Exclusions from Inheritance (2)  How Is the Estate to Be Divided? (1)

Economic Policy

Attitude toward the Government’s Role (2) Summary of the Last Program (4)
Government’s Role of Distribution (3)  Examples of Legitimate Intervention (7)
 Individualism and Collectivism (4)  Monetary and Fiscal Policies and Other Institutions (8)
Some Common Questions (2)

Shared Equity and Rental (SER): An Alternative to Mortgage — I

Fair Market Value and Shares (8) The Concept of SER (5)
Assessment at the Beginning of the Year (2)  Calculating the Investor’s Shares (2)
Advantages for the Owner-to-Be (2)  Gross and Net Rental Values (5)
Tax Implications (3) Legal Aspects (2)

SER: An Alternative to Mortgage — II

 Summary of the Last Program (5)  Economy Is Part and Parcel of Religion (2)
How Much Does It Cost to Have an Appraisal Done? (1) Assessment of Property (2)
 Mortgage and the SER System (2)  Legal Aspects (4)
 Deductible Expenses from Gross Rent (2) Estimate of Rent (2)
Total Payment under SER and Mortgage Systems (2)  Improvement and Additions to Property (3)
  Advantages for the Investors (1)  Distribution of Money Paid by the Home Owner to Buy New Shares (1)
Previous Section (F)        Next Section (H)

A) Monotheism     B) Prophethood     C) Muhammad in the Bible    D) Muslim's Beliefs

E) The Pillars of Islam     F) Social System of Islam     G) Economic System of Islam

H) Political System of Islam    I) Miracles in the Qur'an    J) Moral Teachings of Islam

K) Jesus       L) Muhammad



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