Faculty of Arts

Monash University

Postgraduate - Unit

This unit entry is for students who completed this unit in 2012 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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12 points, SCA Band 3, 0.250 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered, or view unit timetables.

FacultyFaculty of Arts
OfferedNot offered in 2012
Coordinator(s)Sven Schottman


Previously coded MAI5002


Islamic Business and Economics has been hotly debated. As a result, many companies throughout the Islamic and non-Islamic world have new policies that are sympathetic to Islamic values. This unit introduces students to the principles of Islamic business values and ethics via carefully selected case studies. We ask what has been driving changing business practices? Is the rise of economically powerful Islamic actors one reason? Is OPEC just an ordinary cartel or do Islamic values come into play? Our interdisciplinary approach draws on the expertise of scholars and business people.


On successful completion of this unit students will be expected to:

  1. Understand the basic principles of Islamic business and economics
  2. Have a clear understanding how why and how these principles have been spreading globally and the conditions which make particular societies receptive to these idea
  3. Have a good knowledge of some of the most important examples of Islamic business and economic practice at the global and local level in Australia
  4. Have an understanding of the relationship between Islamic business and economic practice and how these relate to non-Islamic principles and practice
  5. Have participated in vigorous group discussions and collaborative work in preparing for their research efforts into this area
  6. At the 5th year level, students will be expected to engage the more complex debates surrounding this subject matter - eg how Islamic economics diverges from Marxist economics.


Assignment (1200 words): 10%
Class presentation and Written work (1500 words): 25%
Research paper (4000 words): 65%

Chief examiner(s)

Antonia Vicziany

Contact hours

One 2-hour lecture
One 1-hour seminar per week in a three-hour block.


An undergraduate degree in any discipline