Macro Economics – BBA


Credit: 3

Hours: 51

Credit Type: Theory

Pre-requisite: Micro Economics


Objective:

The purpose of offering Micro and Macro Economics is to teach economic analysis at micro and macro level in an Islamic framework with inspirations from Islamic ideology .In preparing the table of contents for this course, it’s been tried to create a logical relation between practical economical analysis and Islamic values and insights.

 

Main Topics:

 

Introduction:

The importance of society and Macro-economics issue in Islam- laws and regulations in society from Holy Quran’s point of view- Examples of economic behavior of people lived in the past from Holy Quran- Economic system tendencies in beginning of Islam- Goals and policies of public sector.

 

Chapter 1: Treasure house in beginning of Islam

Definition of treasure house- activities done by treasury ( cultural and educational services ,infrastructure investments-technology and skill  development- social security and defense – securing minimum income- Treasury income (1-legal and religious tax ,2- Anfal 3- income from government activities 4- other incomes including (endowment, oblation, etc)

 

Chapter 2: GNP Accounting

Definition of  GNP and its components- standard for measuring economic activities in the society( GDP)- methods of calculating GDP through expenses( share expenses, government expenses, public sector investment expenses,  export and import) ,method of calculating GDP through factors of production( accumulated depreciation of organizations indirect tax, wages and salaries- equipment rent and land lease- expenses resulted from economic activities)  GDP calculation through value added- other national accounts- (national income, personal income)

 

Chapter 3: International Experience

Islamic view on economic relations with other countries, economic policies of the prophet (p.b.u.h) and commander of faithful (AS)’s government with other countries, economic reason for trade- international expertise and its relative and absolute advantages and the rules derived from them- Islamic view on relative and absolute advantage considering economic goals in the society- Free trade against policies to protect domestic products, preferred tariffs and import quotas.

 

Chapter 4: Balance of payment

Methods  of  securing financial resources in international trade- balance of payment( visible and invisible export and import)- method of payment of international debt – government deals, capital movement, gold international reserve-imbalance in international trade , methods of balancing international trade