Universität Wien FIND
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180216 SE Islamic Finance (2020W)

Economic, Ethical and Historical Foundations

5.00 ECTS (2.00 SWS), SPL 18 - Philosophie
Continuous assessment of course work


Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).


max. 30 participants
Language: English


Classes (iCal) - next class is marked with N

Monday 05.10. 09:45 - 11:15 Digital
Monday 19.10. 08:00 - 13:00 Digital
Monday 09.11. 08:00 - 13:00 Digital
Monday 23.11. 08:00 - 13:00 Digital
Monday 07.12. 08:00 - 13:00 Digital
Monday 11.01. 08:00 - 13:00 Digital
Monday 25.01. 08:00 - 13:00 Digital


Aims, contents and method of the course

***IMPORTANT NOTE: Due to the current COVID 19 pandemic the information provided here may change. Please check the course syllabus on u:find and your moodle account regularly ***

The current economic establishment is often perceived as unjust, because the profit motive displaces real economic needs of human beings. For the last half-century, Islamic Economics and Islamic Finance have been proposed as an alternative to the current economic system, supposedly founded on the teachings of the Islamic faith. The following interdisciplinary seminar aims to shed light on the historical development, the theological and ethical foundations and current trends in the industry. Also, we will highlight discrepancies between normative prescriptions and their practical realization.
The following subtopics will be discussed:
- Short introduction to the Islamic faith, its main sources, economic and legal aspects.
- Main features of an "Islamic economy" and differentiation from “conventional models”
- Trade-offs between ideal conceptions and economic reality
- Realization attempts and main issues
- Development and current trends in the Islamic finance industry

Assessment and permitted materials

- Seminar paper (15 pages + bibliography) - 60% (following subcriteria will be applied in the final evaluation: *consistency of the research goals and the research question(s) in accordance with the course material (30%); *extent, scope and layout (10%); *language and intelligibility (10%); *adherence to the citation rules (10%)
- Presentation (30%)
- Regular attendance and class contribution (10%)

Minimum requirements and assessment criteria

As this class is designed as an introductory seminar, no special knowledge or skills are required. A sufficient command of English is important though.

Students of all disciplines of humanities (e.g. philosophy, law, Islamic studies) and social sciences (sociology, economics) are encouraged to take part.

As this course is a seminar, class attendance is mandatory. Unexcused absence in more than two units (1 unit = 1,5h) will be sanctioned with deregistration.

The seminar paper is due to 28th February 2021. Submissions after this date cannot be considered.

87,5%-100%: 1 (Excellent)
75%-87,5%: 2 (Good)
62,5%-75%: 3 (Satisfactory)
50%-62,5%: 4 (Sufficient)
0%-50%: 5 (Non- Sufficient)

Examination topics

This course is planned as a seminar, thus there will be no written test. Notwithstanding a thorough reflection on the course material provided in the first session is crucial to pass the course.

Reading list

Introductory literature:

-Sonn, Tamara. Islam : A Brief History. 2nd ed. Oxford: Wiley-Blackwell, 2010. Print. Blackwell Brief Histories of Religion.

- Hassan, M. Kabir. Islamic Finance. 2007. Print. A Elgar Reference Collection.

A detailed bibliography will be announced in the first session.

Association in the course directory

Last modified: Mo 05.10.2020 10:09