EKONOMI MAKRO ISLAM

EKO SUPRAYITNO, SE., M.Si., Ph.D

 Islam
Makro Islam
Self Learning
• Text Book, Article and another ref;
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• Lecturer, discussion
Ekonomi
 Islam
Reference
Makro Islam

• Raja M. Almarzoqi, Walid Mansour, Noureddine

Krichene (2017). Islamic Macroeconomics: A Model
EkonomiMakro

for Efficient Government, Stability and Full

Employment
• Handbook of Islamic Finance
• Islamic Economics: Theory and Practice (Abul
Hassan)
Ekonomi

• Islamic Finance, Risk-Sharing and Macroeconomic

Stability (Palgrave, 2019)
• Islamic Economics and Finance: A European
Perspective
• Article and another references
 Islam
Makro Islam
Learning Outcomes*
1. Understanding Economics Developments of
an Islamic economy
EkonomiMakro

2. Goals of Analysis: [Among the others:] Econ.

Growth, Distribution, Poverty Alleviation 
Growth & Stability and Growth &Equity , etc
3. The Role of State Economic Deveopment;
Ekonomi

4. Zakat and SDGs

5. Rural Development
6. Trade and Development
7. Halal Branding.
*Set by the Sponsor of this lecture. 4
 Islam
Makro Islam COURSE OUTLINE
Week Course Outline Metod
s e
1 Pendahuluan :  
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1. Tujuan Mata Kuliah

2. Ruang Lingkup Mata Kuliah
3. Kebijaksanaan pelaksanaan perkuliahan
4. Tugas yang harus diselesaikan
5. Buku ajar
6. Kebutuhan belajar mahasiswa
7. Lain-lain
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2 Income Determination In Islam Presentasi

1. Income Determination In Islam: Concept, dan
Objectives and Some Issues diskusi
2. A Comprehensive Macroeconomic Income Det
ermination Model for an
3. Determination of National Income in An
Islamice Perspective: Concept, Objectives and
5
Some Issues
 3 Aggregate Consumption in Islam Prese
Islam 1. Zakah, moderation and aggregate consumption
2. Aggregate Consumption in An Islamic Perspective:
ntasi
dan
Concept, Objectives and Some Issues disku
Makro Islam
3. Consumprion and Islam: Micro Foundations and Macr si
o Modelling
4. Treatment of Consumption in Islamic Economics
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4 Saving and Investment in Islam Prese

1. Saving and Investment in An Islamic Perspective: ntasi
Concept, Objectives and Some Issues dan
2. "WEALTH OF NATION: CONSUMPTION, SAVING AND disku
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INVESTMENT IN ISLAMIC ECONOMICS" si

3. Determinants of Investment in Muslim Developing Cou
ntries
4. Islamic finance: Savings and souls
 

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 5 Zakat and Fiscal Policy in Islamic Presentasi
Islam 1. Zakat and Fiscal Policy in an Islamic Perspective: dan diskusi
Concept, Objectives and Some Issues
2. Fiscal Policy In An Islamic Economy And The Role
Makro Islam
Of Zakat
3. Theory of Fiscal Policy in an Islamic State
4. FISCAL POLICY AND RESOURCE ALLOCATION IN
ISLAM
EkonomiMakro

6-7 Interest in Islamic Macroeconomis Presentasi

1. Interest in Islamic Economics: Understanding Riba dan diskusi
2. Interest-free economics and the islamic
macroeconomic system
3. Interest in Macroeconomics in an Islamic
Perspective: Concept, Objectives and Some Issues
4. Concept of RIBA, Interest & Profit in Islamic Econo
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mics System
5. Interest-free economics, Economics Economic
Development and Growth
6. Interest-free economics
in the Islamic Finane and Banking System:
Concept, Objectives and Some Issues.

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 8 MID TERM  
Islam 9 Money In Islamic Macroeconomics Presentasi
1. Money in Macroeconomics in An Islamic dan diskusi
Perspective: Concept, Objectives and Some
Makro Islam
Issues
2. Money creation and control from Islamic persp
ective
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3. Time Value of Money in Islamic Perspective an

d the Practice in Islamic
4.  

10 Monetary policy in Islamic Macroenonomics Presentasi

1. Monetary Policy in an Islamic Perspective: dan diskusi
Ekonomi

Concept, Objectives and Some Issues

2. Monetary Policy and Economics Growth in An
Islamic Perspective: Concept, Objectives and
Some Issues
3. Islamic Finance and Monetary Policy: Concept,
Objectives and Some Issues
4. Fiscal and Monetary Policy in Islam

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 11 Inflation in Islamic Perspective
Islam 1. Inflation in an Islamic Perspective: Concept, Objectives
and Some Issues
2. Inflation: Islamic and Conventional Perspective
Makro Islam
3. Riba, Inflation and the Role of Money in an Islamic
Perspective
4. Reduce Inflation: in An Islamic Finance
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12 Unemploynment in Islamic Perspective

1. Employnment and Unemploynment in Islamic
Perspective: Concept, Objectives and Some Issues
2. Islamic Solution to the problem of unemployment and po
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verty
3. The Quranic Remedy for Unemployment Problem
 

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 13-14 Islamic Banking and Finance. (dual banking system)
Islam 1. Islamic Banking and Finance: Concept, Objectives
and Some Issues
2. The Role of Islamic Banking and Finance in the
Makro Islam
Global World
3. Islamic Banking, Finance and Economc Growth:
Concept, Objectives and Some Issues
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4. I
slamic finance and economic development risk reg
ulation and corporat
5. Islamic Banking and Finance. : Dual banking system
dan Dual System Banking
 
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15 Exchange Rate in Islamic Perspective

1. Exchange Rate in an Islamic Perspective: Concept,
Objectives and Some Issues
2. Exchange Rate Stability: Theory and Policies from an
Islamic Perspective
 

10
16 Ujian Akhir Semester
 Islam
Makro Islam
Macroeconomic Data
• Measures of Inequality (in distribution of
personal income and personal disposable
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Income), Poverty and Disparity

• Zakah ─ Both collection and disbursement
• Indebtedness at micro and macro levels
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 Islam
Makro Islam
Other Macro Data
• Employment
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• Entrepreneurship
• Indebtedness at micro and macro levels
• Realized rate of profit  overall as well as
in various economic sectors
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• The margin in murabahah financing, the

rental in ijarah financing
• Relation between profits and profit-sharing
ratio  overall as well as in different
sectors
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 Islam Macroeconomic Dimensions of an
Islamic Economy – 1
Makro Islam

• Financial Side:
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(1) Source of Outside Money:

Government/Central Bank
(2) Financial Assets: Money, Mudarabah
Deposits, Islamic Securities, Islamic
Stocks
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(3) Financing Modes: Murabahah, Salam,

Ijarah and Musharakah
• Institution of Zakah (the medium for
welfare agenda)
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 Islam
Makro Islam
Macroeconomic Dimensions – 2
The Institution of Zakah:
• Government as the sole body for assessment, collection and
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disbursement of zakah
• One the collection side: Extensive setup needs to be in place in
order to cover the economy across:
(1) population (rural, urban, mining and nomads),
(2) economic zones (agricultural, minerals, industrial and
commercial), with due margin for the type of economic
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activity at the micro level in each zone

(3) Institutionalized economic activity (personally and publically
owned businesses)
(4) Financial institutions
• On the disbursement side: Zoning of the economy according to
poverty and other concerns where zakah can be utilized,
according to a well-developed criteria.
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 Islam Economic Development Framework
and Goals
Makro Islam

• Islamic Economy
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── Analysis for non-Islamic economy also

to be carried out against this backdrop
• Zakah (for distributional concerns)
── Institutional framework for
assessment, collection, preservation
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and disbursement of zakah──Economic

topography
• Monetary framework

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