Master of Islamic Economics

  Institution: Private: Universiti Kebangsaan Malaysia (UKM)

The Master of Islamic Economics Programme emphasises the conceptualization of the Islamic economy from a Shariah perspective. The programme is designed to produce graduates who are not only knowledgeable of Islamic economic theory, but who can also apply such theories in Islamic banking and finance.

Programme Goals

The goals of this programme are:

1. to produce graduates that are competent, possessing both a depth of knowledge and a wide range of skills in Islamic economics, banking and finance, making them capable of meeting the needs of industry, research and education at home and abroad;
2. to support the vision and ambition of the government of Malaysia to make Malaysia a centre of innovation and excellence in the Islamic financial world; and
3. to develop competencies in areas of study selected.

Learning Outcome

Upon completion of the programme, graduates should be able to:

1. demonstrate a systematic and in-depth understanding of Islamic banking and finance;

2. master skills and methods of research in the field of Islamic economics;

3. produce, develop, implement and apply research methodologies in a constructive manner;

4. undertake research that yields original contributions and expands upon existing knowledge in the field of Islamic economics through the publication and defence of studies that reflect international standards and practices;

5. critically analyse, evaluate and synthesize new and complex ideas;

6. effectively communicate ideas relating to the field of Islamic economics to peers within the field of study and to the general public; and

7. promote research in the social and cultural context unique to the management of the knowledge society.

Admission Requirements

Candidates who wish to pursue the programme of study must:

1. possess an educational background consisting of:

   1. Bachelor of Economics with honours from Universiti Kebangsaan Malaysia or other higher education institution recognized by the UKM Senate; or

   2. other qualification(s) equivalent to Bachelor of Economics with honours from Universiti Kebangsaan Malaysia or other higher education institution recognized by the UKM Senate;

2. obtain a minimum TOEFL score of 550 or IELTS 6 or other English proficiency examination recognized UKM Senate, in the event that the candidate is an international student; and

3. meet any further requirements and conditions specified by the Faculty of Economics and Management.

Enrolment Status and Period of Study

Full-time study entails a minimum of two (2) and a maximum of six (6) semesters of registration, while part-time study entails a minimum of four (4) semesters and a maximum of eight (8) semesters of registration.

Programme Structures

The Master of Islamic Economics programme can be completed via two different modes of study:

1. Coursework

2. Thesis ( CGPA at Bachelor Degree is not less than 3.50)

Coursework Mode

Candidates enrolled in the coursework intensive mode of study must successfully complete 40 units of course modules, consisting of the following.

Additionally, candidates are required to publish at least one (1) proceeding from a seminar/conference/workshop that has been approved by the Graduate Study Committee.

List of Courses

1. Core Courses (16 units)

EPPE 6034 Econometric Methods

EPPE 6514 Fiqh for Economics

EPPE 6534 Advanced Islamic Economic Analysis

EPPE 6544 Money, Zakat and the Real Economy

2. Specialization Courses (16 units)

Islamic Banking

EPPE 6524 Islamic Capital and Money Markets

EPPE 6554 Islamic Banking

EPPE 6564 Risk Management in Islamic Banking

EPPE 6574 Current Issues in Islamic Banking

Islamic Finance

EPPE 6524 Islamic Capital and Money Markets

EPPE 6584 Islamic Financial Management

EPPE 6594 Islamic Asset Management and Planning

EPPE 6614 Theory and Practice of Takaful

3. Academic Paper (8 units)

EPPE 6940 Academic Paper

Please refer to Supervision and Examination Guidelines for Thesis/Dissertation/Academic Paper.

Graduation Requirements

In order to successfully complete the coursework intensive mode of study for the Master of Islamic Economics Programme, candidates must:

1. achieve a final CGPA of ≥ 3.00;
2. complete the required number of units for the programme;
3. publish at least one (1) article in a proceeding from a seminar/conference /workshop approved by the Graduate Study Committee; and
4. meet any other conditions prescribed by the University.

Proposed Schedule of Study

The typical programme timetable and progression of study for a full-time candidate completing within three (3) semesters is as follows:

Research Mode

Candidates enrolled in the research intensive mode of study must successfully complete 4 prerequisite core courses (if required) and write a thesis weighted as 40 units. Candidates are required to attain L (Pass) to successfully complete the prerequisite courses. The candidate must present and pass his/her research proposal and successful in the thesis oral examination. Please refer to Supervision and Examination Guidelines for Thesis/Dissertation/Academic Paper.

Additionally, candidates are required to publish at least one (1) article in an indexed journal and publish at least one article in a proceeding from a seminar/conference/workshop approved by the Graduate Study Committee.

List of Courses

1. Pre-requisite Course Modules

EPPE 6034 Econometric Methods

EPPE 6514 Fiqh for Economics

EPPE 6534 Advanced Islamic Economic Analysis

EPPE 6544 Money, Zakat and the Real Economy

2. Thesis

EPPE 6940 Thesis

Graduation Requirements

In order to successfully complete the research intensive mode of study for the Master of Islamic Economics Programme, candidates must:

4. successfully complete the oral examination and defence of the thesis;

5. publish at least one (1) article in an indexed journal and one (1) article in a proceeding; and

6. meet any other conditions prescribed by the University.

Proposed Schedule of Study

The typical programme timetable and progression of research for a full-time candidate completing within three (3) semesters is as follows:

Application

Online application is via http://guest.ukm.my or visit Center for Graduate Management’s website at http://www.ukm.my/pps.

Tuition Fee

RM 12300