BA Oriental Economics

This is a course in Economics in which the word oriental has two meanings:

a. Islamic Economics and

b. Oriental countries

This course is formed as the concomitancy of Islamic welfare Economics and the Oriental Countries’ Economic renaissance.

Al Maal is the basis of Islamic welfare Economics. It is based on four things.

Pure money 

It is the pure money which is interest-free, fraudulent-free and non-deceptive.It always creates progress and development.

Goal money

It has clear aim. It is non-harmful to human and nature.It is not intended to exploit people.

This money is intended in the divine goal of human goodness.

Team Finance

The economic plan should not arise from anyone’s malice mind but should arise from the planning of a group of people. All the Quranic verses on economics are of plural usages.

for eg: Va jaahidhu bi amvalikum.

Here these 2 principles join together

• Using the money for ideo war .That is the depositing money should have a great aim.
• Ideo war is a group activity, a coordinated activity.it is not a solo performance. Therefore economic planning should not come from a specific individual because it leads to satanic, malicious and selfishness. Instead, it should come from a group of good-natured economists. That alone can lead to welfare Economics.

This is the principle that Islam puts forward in the sense of welfare Economics.

Through these Economic welfare theories, this course is useful to rebuild the modern world especially the economic field that is destroyed by the Covid .

While examining the history, it is understandable that Prophet Muhammed(peace be upon him) is a good inventor of Welfare Economics. The world civilizations created by Muslims after Prophet Muhammed(peace be upon him)‘ period, the Islamic golden age of 900 years are also the continuation of the above said Welfare Economics. Hence this course is reconstructing the history of Welfare Economics.

Using this Economic theory, this course partakes the economic planning for the welfare of Oriental countries especially India.

Time Finance

Here Quran represents the time as thought, intelligence, and concept. A job in Islam indicates the submission of intelligence and time, rather than the physical effort. In Islam Time(asr) is intelligence(aql), thought(fikr), concept(mathn).Hence making money and progress through invest in ideas is one of the basic theories of welfare economics