Islamic Microeconomics

This course is a continuation of the Introduction to Islamic Economics course and covers the concept of needs in Islam, Islamic consumption theory, the concept of demand in Islam, Islamic production theory, cost analysis, Islamic supply, profit maximization, market structure, and market mechanisms in Islam. Upon completing this course, students are expected to understand the fundamentals of Islamic microeconomics, explain the differences between conventional microeconomic theory and Islamic microeconomic theory, and be able to apply the concepts of Islamic microeconomics to analyze microeconomic issues.