PRE-EXAM QUESTIONS PES . Overview of Economics Worldviews and Economics Sources of Knowledge. Overview of Economics. Q 1. Discus the problem of economics from both secular and Islamic perspectives. Definition of Economics .
Q 1. Discus the problem of economics from both secular and Islamic perspectives.
It studies man not only as an isolated individual but of a social individual having;
Islam recognizes that human desires are unlimited. This is explained in the Quran and in the Hadith.
يَحْسَبُ أَنَّ مَالَهُ أَخْلَدَهُ
Thinking that his wealth would make him last for ever!(104:3)
قال رسول الله (ص):
« لو أن ابن آدم أعطي واديا من ذهب أحب إليه ثانيا ، ولو أعطي ثانيا أحب إليه ثالثا ، ولا يملأ جوف ابن آدم إلا التراب ، ويتوب الله على من تاب »
“If man is given a valley of gold, certainly, he wants the second and third one and he will …..” Hadith
Cont. Acquiring Wealth in Islam
When a man dies he will be asked on four: 1- His youth how he spend it?2- His age how he spend it?3. His wealth how he acquires it? &4. How he spends it?
عن ابي الدرداء قال قال رسول الله صلى الله عليه وسلم لن يزول قدما عبد يوم القيامة حتى يسأل عن أربع عن شبابه فيما ابلاه وعن عمره فيما افناه وعن ماله من اين اكتسبه وفيما أنفقه
Q 2. How can Islamic economics be explained within the context of Islamic worldview.
Q 3*. Discuss the concept of khalifah in the production, allocation and distribution of resources from the Islamic perspective.
Worldview explain how man perceives this world. It denotes “a set of implicit or explicit assumptions about the origin of the universe and the nature of human life”.
Every community or system is controlled or influenced by its own worldview. The different worldviews among communities or among system lead to dissimilar end means of human life.
SECULAR WORLDVIEW(Man’s Way of Life)
separation between religion and other aspects of life,- materialistic, - individualistic, - less socio economic justice - less public relations, - less concern with the hereafter life
ISLAMIC WORLDVIEW(Man’s Way of Life)
belief in a dual worldviews: this world & the hereafter - religion is part of his/her daily life- maslahah of the ummah (public benefit),- accountability, - trustworthiness,- transparency etc.
To understand the Islamic worldview let us first define the followings:
1. Islam, Iman, A’mal, Ihsan.
2. Relationship between Allah, man, nature, religion.
3. The nature and characteristics of man; man’s role as ‘abd and khalifah
Man’s aim in life is to achieve happiness not in this world alone but in the hereafter too, i.e. to achieve falah (success/prosperity).
An Islamic world view or Ru’yat al-Islam li al Wujuod, is the vision of reality and truth that appears before our mind’s eye reveling what existence is all about.
It is defined as “a set of implicit and explicit assumptions about the origin of the universe as well as the nature and purpose of man not only in this world but in the hereafter too”.
Hence the Islamic worldview can be described as a dual worldview, comprising both this world and the Hereafter.
The Islamic worldview is based on Islam. All worldviews must include concepts on Allah/Tawhid, Man/Khilafah, Nature, Man’s aim in life, ‘Adalah
Muslim believe that this world is a temporary place for them to be tested in order to determine whether they will get the reward or punishment in the Hereafter.
Q 4. Differentiate between secular and Islamic sources of knowledge in relation to economics.
SOURCE OF KNWOLEDGE
To seek knowledge is a holy duty; it is obligatory on every Muslim, male and female.
The first revealed word in the Qur’an was "IQRA" READi.e. it encourages man to seek knowledge, to be educated.
Knowledge can be classified into two kinds with respect to the sources of knowledge;
1. Revealed Knowledge and
2. Acquired Knowledge