Kuliah 1

• Makro ekonomi Islam ?

• Kerangka Institusi
• Fitur Sistem Ekonomi
• Dalam ekonomi makro, titik berat analisa
adalah normatif  tercapainya tujuan-tujuan
sosial ekonomi seperti kesejahteraan sosial
yang dapat direpresentasikan oleh: Full
employment, equal income distribution,
ecological balance dll
• Ekonomi Makro Islam ? Kenapa diperlukan
dan apa yang membuat berbeda?
Ekonomi Makro karena terkait dengan tujuan agregat 
tujuan sosial, maka
• Kerangka Institusi
• Fitur Pada Sistem Ekonomi

Menjadi fondasi yang harus dibentuk lebih dahulu

Ekonomi Islam memiliki fondasi yang berdiri sendiri
Beberapa kerangka institusi dan fitur sistem ekonomi
konvensional berbeda
Kerangka Insitusi
Institusi ? rules of conduct and their
enforcement characteristics

Objektif institusi  Sosial Justice

Elemen Institusi:
1. property;
2. contracts and contractual obligations;
3. trust;
4. markets and the code of conduct;
5. risk sharing;
6. wealth accumulation and utilization;
7. wealth distribution and redistribution;
8. work and work ethics;
9. competition and cooperation.
 1. Property
• The word “property” is defined as a bundle of
rights, duties, powers, and liabilities with
respect to an asset.
• In the conventional concept, it is considered
the right of an individual to use and dispose of
a private property, along with the right to
exclude others from the use of that property.
• Ekonomi Islam ?
8 principles of Islamic property rights:
1. Acknowledge the permanent, constant, and invariant ownership of all
property by Allah (swt)
2. Acknowledge transfer by Allah (swt) of the right of possession to all of
humankind, which establishes the right of collectivity to the created resources.
3. Provide equal opportunity of access by all to the natural resources provided
by the Creator, to be combined with their labor to produce goods and services.
4. Individuals appropriate the products resulting from the combination of their
labor with these resources, without the collectivity losing its original rights
either to the resources or to the goods and services by individuals.
5. Recognize only two ways in which individuals accrue rights to property: (
KERJA adalah TERPENTING )
– Through their own creative labor; and/or
– Through transfers—via exchange, contracts, grants, or inheritance— from
others who have gained title to a property or an asset through their labor.
6. Sanctify, through the “immutability of property rights,” the duty of sharing
by transferring it into the principles of property rights and obligations.
7. Acknowledge the duty of sharing the product or the income and wealth
proceeding from its sale, which relates to property ownership rights as a trust.
8. Acknowledge the limitations on the right of disposing of property—a right
that is absolute in the conventional concept of property rights.
 2. Contracts and Contractual
Obligations
• The concept of contracts in Islam is not only
important in the legal aspect of exchange, as an
institution necessary for the satisfaction of
legitimate human needs, but it is also a concept
upon which Shariah is based.
• The whole fabric of the Divine Law is contractual
in its conception, content, and application 
manusia harus mempertanggungjawabkan
perbuatan pada Tuhan
 3. Trust
• Trust is considered the most important
element of social capital in Islam and the
cornerstone of the relationship of individuals
with Allah (swt) and with others in society.
• Islam places a strong emphasis on trust and
considers being trustworthy as an obligatory
personality trait.
• The root of the word for “trust” (amanah) is
the same as that for “belief” (iman).
4. Market and The Code of conduct
• In the realm of conventional economics, reliance
on markets is an ideology to Some economists;
• Lalu ekonomi Islam ?
– Pasar tidak otomatis menjamin keadilan sosial
ekonomi
– Pasar adalah didorong karena merupakan best
signalling mechanism
– Tetapi market participants, both buyers and sellers,
must embrace a code of morality before they enter
the market.
 5. Risk Sharing
• This is based on the principle of liability, which
states that profit is justified on the basis of
taking responsibility, possibly even becoming
responsible for a loss and its consequences.
• This legal maxim, said to be derived from a
saying of the Prophet (sawa) that “profit
comes with liability
6. Wealth Accumulation and Utilization
• Islam encourages the human to utilize, to the
fullest extent possible, all the resources that
Allah (swt) has created and entrusted to
humankind for his use.
• Seimbang dengan indikator lain dalam
maqashid  pencapaian wealth digunakan
untuk pencapaian 4 indikator lainnya
 7. Wealth Distribution
• Believers must remain fully conscious of the
human partnership throughout the process of
wealth creation and of the fact that they must
redeem the rights of others in the created
income and wealth.
• Ingat tujuan ekonomi Islam social interest 
social justice
 8. Work and Work Ethics
• The concept of work in Islam (al-amal) is far
broader, and has different characteristics and
objectives, than the concept as it is understood in
the conventional economics.
• In Islam, the work ethic is defined by the Quran
itself, which stresses the need for work and
action by human beings.
• It is because of this emphasis on work that Islam
is considered a religion of action.  ingat 4 level
rizki ?
 9. Competition and Cooperation
• Islam utilizes cooperation and competition in
structuring the ideal society through harmonization
and reconciliation between these two opposites and
also between equally primeval and useful forces at
every level of social organization.
• “Cooperate with one another unto righteousness and
piety. Do not cooperate with one another unto sin and
enmity” (5:2).
• Muslims are also urged to compete with one another
in beneficial and righteous deeds  fastabiqul khairaat
Elemen Sistem Ekonomi
 Fitur 1 Keadilan Sosial Ekonomi

• Dua definisi keadilan dalam Al-qur’an

– Qist . ( contoh 55: 7-9)
• Menjadi karakteristik utama dari sifat keadilan antara
manusia dan hubungan manusia dengan makhluk
lainnya
• Merupakan fenomena manusia
– Adl.
• Merupakan keadilan yang menjadi domain Tuhan
sebagai pencipta
• Karakteristik utama kekuasaan Tuhan untuk
menempatkan sesuatu tepat pada tempatnya
• Komponen keadilan ekonomi
1. Equality of liberty and opportunity for all
members of society with respect to the
utilization of natural resources;
2. Justice in exchange; and
3. Distributive justice.
1. Kesempatan dan kebebasan yang sama
• liberty means that others do not prevent a
person from combining his creative labor with
resources, which are designated by Shariah for
the use of the individual members of society
• Opportunity represents a favorable conjunction
of circumstances that gives the individual the
chance to try to compete. Success is dependent
on the individual’s efforts and abilities.
2. Keadilan dalam Pertukaran
• The idea is that, by mixing their creative labor
with resources, individuals create a claim of
equity to the possession of the assets thus
produced, by virtue of which they can
participate in exchange.
3. Keadilan Distribusi
is the mechanism by which equal liberty and
equity are reconciled without the least possible
infringement
• There are three bases of private property in Islam:
1. Property that is derived from personal ability and
effort, including material property made or obtained from
natural resources by combining them with personal skills,
ability, and technology; income from self-made capital;
assets acquired in exchange for the product of the
owner’s labor;
2. Property acquired by transfers from the producer; and
3. Property acquired through inheritance from the
producer.
 Fitur 2. Pelarangan Riba
• Al-riba technically refers to the “premium” that must be
paid by the borrower to the lender along with the principal
amount as a condition of the loan or for an extension in the
duration of loan

At least four characteristics define the prohibited interest rate:

1. It is positive and fixed ex ante.
2. It is tied to the time period and the amount of the loan.
3. Its payment is guaranteed regardless of the outcome or the
purposes for which the principal was borrowed.
4. The state apparatus sanctions and enforces its collection.
Fitur 3. Sistem Ekonomi Berbasis Risk -
Sharing
• Islam endorses risk sharing as the preferred
organizational structure for all economic
activities,
– endorses the most comprehensive application of
risk sharing that goes beyond anything put
forward by modern economic theories.
three sets of risk-sharing instruments:
1. Risk-sharing instruments in the financial sector;
2. Redistributive risk-sharing instruments through
which the economically more able segments of
society share the risks facing the less able segment
of the population
3. The inheritance rules specified in the Quran
through which the wealth of a person at the time of
passing is distributed among present and future
generations of inheritors.
 Fitur 4. Peranan Negara
• The state is primarily a vehicle for
implementing Shariah and derives its
legitimacy from its enforcement of Shariah
rules.
in an Islamic economy, the role of the state is to ensure five
goals:
1. Everyone has equal access to natural resources and means
of livelihood.
2. Each individual has equal opportunity—including
education, skills, and technology—to utilize these resources.
3. Markets are supervised in such a manner that justice in
exchange can be attained.
4. Transfer takes place from those more able to those less able
in accordance to the rules of Shariah.
5. Distributive justice is done to the next generation through
the implementation of the laws of inheritance.