The IIUM’s Bachelor of Economics program prepares students to have solid foundations in economic theory and empirical analyses. It offers students a wide variety of applied courses to help advance their understanding of the broad application of economics in relevant aspects of life.
In line with the university’s mission of Islamization of knowledge, most of the courses are taught with an Islamic perspective.
The program seeks to develop in students an ability to think critically from an Islamic angle in order to contribute to a clear understanding of contemporary economic activities. It is a program meeting international academic standards with an Islamic orientation. It is designed to produce professionals who are competent in the economic discipline imbued with an Islamic vision.
The program provides specialized courses in four areas, namely, Islamic economics, finance, international economics and development economics. This allows students to focus on the area of concentration of their choice.
AREAS OF CONCENTRATION
Students can choose to specialize in any one of the following areas: Islamic Economics, Finance, International Economics, or Development Economics. Students must take at least four courses in a chosen package. The remaining courses can be chosen from other packages in the department or from other departments as listed in the Other Elective Courses.
1 FINANCE
| FIN 3010 | Financial Management I | (3 credit hours) |
| FIN 3011 | Financial Management II | (3 credit hours) |
| FIN 4020 | Investment Analysis | (3 credit hours) |
| FIN 4030 | Principles & Practices of Takaful & Re-Takaful | (3 credit hours) |
| FIN 4040 | Corporate Finance | (3 credit hours) |
| FIN 4710 | International Finance | (3 credit hours) |
| ECON 4130 | Forecasting for Economics and Business | (3 credit hours) |
2. INTERNATIONAL ECONOMICS
| ECON 3710 | International Economics | (3 credit hours) |
| ECON 3720 | Globalization and Regional Economic Powers | (3 credit hours) |
| ECON 3730 | Islamic Countries in the Global Economy | (3 credit hours) |
| ECON 4730 | International Monetary Economics | (3 credit hours) |
| ECON 4740 | International Trade and Development | (3 credit hours) |
| FIN 4710 | International Finance | (3 credit hours) |
3. DEVELOPMENT ECONOMICS
| ECON 3230 | Economic Development | (3 credit hours) |
| ECON 4220 | Industrial Economics | (3 credit hours) |
| ECON 4230 | Human Resource Development | (3 credit hours) |
| ECON 4240 | National Income Accounting | (3 credit hours) |
| ECON 4280 | Environmental Economics | (3 credit hours) |
| ECON 4740 | International Trade and Development | (3 credit hours) |
4. ISLAMIC ECONOMICS
| ECON 3512 | Fiqh For Economists III | (3 credit hours) |
| ECON 4020 | Contemporary Economic Thought & Policy | (3 credit hours) |
| ECON 4510 | Issues in Islamic Economics | (3 credit hours) |
| ECON 4530 | Objectives of Sharicah | (3 credit hours) |
| ECON 4540 | Economics in the Qur’an & Sunnah | (3 credit hours) |
| ECON 4550 | Economics of Zakat | (3 credit hours) |
5. OTHER ELECTIVE COURSES
| ECON 3150 | Mathematical Economics | (3 credit hours) |
| ECON 3620 | Project Evaluation and Feasibility Studies | (3 credit hours) |
| ECON 4110 | Econometrics II | (3 credit hours) |
| ECON 4710 | Issues in International Economics | (3 credit hours) |
| ECON 4780 | ASEAN Economies | (3 credit hours) |
| ECON 4810 | Research Methodology | (3 credit hours) |
| ACC 2001 | Intermediate Accounting | (3 credit hours) |
| ACC 2501 | Company Accounting | (3 credit hours) |
| ACC 2511 | Cost Management | (3 credit hours) |
| ACC 3001 | Advanced Accounting | (3 credit hours) |
| ACC 3501 | Advanced Group Accounting | (3 credit hours) |
| ACC 3511 | Decision Making and Control | (3 credit hours) |
| ACC 3555 | Cost & Management Accounting | (3 credit hours) |
| ACC 3541 | Malaysian Taxation | (3 credit hours) |
| ACC 4001 | Accounting Theory & Policy | (3 credit hours) |
| ACC 4041 | Advanced Taxation | (3 credit hours) |
| ACC 4051 | Public Sector Accounting | (3 credit hours) |
| ACC 4542 | International Taxation | (3 credit hours) |
| ACC 4561 | Accounting for Islamic Banks | (3 credit hours) |
| ACC 4563 | Zakat Accounting | (3 credit hours) |
| ACC 4581 | Company Secretarial Practice | (3 credit hours) |
| ACC 4582 | Corporate Governance | (3 credit hours) |
| FIN 4150 | Financial Statement Analysis | (3 credit hours) |
| FIN 4250 | Bank Management | (3 credit hours) |
| FIN 4870 | Futures Options & Risk Management | (3 credit hours) |
| MGT 3050 | Decision Science | (3 credit hours) |
| MGT 4320 | Human Resource Management | (3 credit hours) |
| MGT 4510 | Industrial Relations | (3 credit hours) |
| MGT 4650 | Entrepreneurship | (3 credit hours) |
| MGT 4660 | Small Business Management | (3 credit hours) |
| MGT 4760 | Strategic Management | (3 credit hours) |
| MGT 4810 | International Business | (3 credit hours) |
| MGT 4820 | Management From an Islamic Perspective | (3 credit hours) |
| MGT 4850 | International Management | (3 credit hours) |
| MKTG 3010 | Marketing Principles | (3 credit hours) |
| MKTG 4010 | Marketing Management & Strategy | (3 credit hours) |
| MKTG 4250 | Retail Management | (3 credit hours) |
| MKTG 4410 | Marketing Research | (3 credit hours) |
| MKTG 4810 | International Marketing | (3 credit hours) |
| LAW 3112 | Malaysian Business Law (for ENM) | (3 credit hours) |
| LAW 3212 | Company Law | (3 credit hours) |
| LAW 3512 | Commercial Law | (3 credit hours) |
| INFO 1301 | Internet Applications | (3 credit hours) |
| INFO 2201 | Multimedia Technology | (3 credit hours) |
| INFO 2401 | Systems Analysis & Design | (3 credit hours) |
| INFO 2501 | Management Information Systems | (3 credit hours) |
JOB PROSPECTS
Students graduating with Bachelor of Economics have broad career prospects in various positions such as Central bankers, Commercial bankers, Resource person in Islamic banks and other financial institutions, Executives in the corporate sector, Officers in the public sector, Economists, Policy analysts, Academicians, Researchers, Asset management officers and Market analysts, Human resource management officers, and Financial planners.
DOUBLE DEGREE IN ECONOMICS & ISLAMIC REVEALED KNOWLEDGE AND HERITAGE (IRK&H)
The double-degree program is introduced to produce graduates who will be able to contribute more effectively in promoting the implementation of Islamic Economics and its related disciplines, as they will be equipped with more intensive knowledge of the Sharicah and other aspects of the Islamic heritage. The program is designed to equip students with the integrated and in-depth knowledge of conventional and Islamic economics which will produce graduates with a niche in the job market especially in the fast growing Islamic financial sector, locally and abroad. These graduates will be in a better position to assist in the process of integration of knowledge and in realizing the ideals of Islam in the various aspects of economic activities.
Economics students who wish to obtain a second degree in IRK&H must fulfill the requirements of both the B.Econs. and B.IRK&H programs. Courses that have been taken to satisfy the B.Econs. requirements, which are relevant to the B.IRK&H can be transferred to the latter program. In addition, students are required to fulfill additional Arabic language requirement. The minimum total number of credit hours for a double-degree in Economics and Islamic Revealed Knowledge and Heritage is 146 (or 144 for international students).
The following are the IRK&H required and elective courses for the double-degree program.
REQUIRED COURSES
| RKQS 2020 | Sciences of Hadith | (3 credit hours) |
| RKQS 4140 | Methodology of Mufassirin I | (3 credit hours) |
| RKQS 4210 | Takhrij al-Hadith | (3 credit hours) |
| RKQS 4220 | Principles of Dealing with Sunnah | (3 credit hours) |
| RKQS 4240 | Al-Jarh wa al-Tacdil (Criticism of Transmitters) | (3 credit hours) |
| RKFQ 4150 | Fiqh al-Siyar (Islamic Political System & International Relations) | (3 credit hours) |
| RKFQ 4140 | Modern Islamic Legal Studies | (3 credit hours) |
| RKUD 4999 | Research Methodology | (3 credit hours) |
| RKUD 3210 | Islamic Call: Principles & Methods | (3 credit hours) |
| – | Other courses (IRK&H or ECON) which may be deemed relevant | (3 credit hours) |
ELECTIVE COURSE
Students are required to choose four (4) of the following courses as electives:
| RKQS 4230 | Contemporary Trends in Sunnah Studies | (3 credit hours) |
| RKQS 3160 | Tafsir Mawduci (Thematic Exegesis) | (3 credit hours) |
| RKQS 4120 | Qur’anic Discourse (Al-Khitab Al Qur’ani) | (3 credit hours) |
| RKQS 4150 | Methodology of Mufassirin II | (3 credit hours) |
| RKFQ 4130 | Islamic Legal Maxims and Concepts | (3 credit hours) |
| RKUD 3320 | Formal & Symbolic Logic | (3 credit hours) |
| RKUD 4120 | Issues in Contemporary Islamic Thought (in English) | (3 credit hours) |
| RKUD 4310 | Philosophy of Science (in English) | (3 credit hours) |
| RKUD 4350 | History of Islamic Philosophy | (3 credit hours) |
| RKFQ 3130 | Fiqh al-Usrah | (3 credit hours) |
| – | Other courses (IRKH) or ECON) which may be deemed relevant | (3 credit hours) |
ARABIC LANGUAGE REQUIREMENT FOR DOUBLE-DEGREE IN ECONOMICS AND IRKHS
| LQ 0181 | Elementary Qur’anic Language I for Economics | (8 credit hours) |
| LQ 0182 | Elementary Qur’anic Language II for Economics | (8 credit hours) |
| LQL 0414 | Qur’anic Language Skills – Listening | (4 credit hours) |
| LQS 0415 | Qur’anic Language Skills – Speaking | (5 credit hours) |
| LQR 0414 | Qur’anic Language Skills – Reading | (4 credit hours) |
| LQW 0415 | Qur’anic Language Skills – Writing | (5 credit hours) |
The minimum entry requirement for the Bachelor of Economics program is a CGPA of 2.0 and an average of B- for the following two courses:
| ECON 1510 | Principles of Microeconomics |
(3 credit hours) |
| ECON 1610 | Principles of Macroeconomics |
(3 credit hours) |
DEPARTMENT REQUIRED COURSES
Students must complete 36 credit hours of the department required courses. The courses are:
| ECON 2110 | Intermediate Microeconomics I |
(3 credit hours) |
| ECON 2111 | Intermediate Microeconomics II |
(3 credit hours) |
| ECON 2310 | Intermediate Macroeconomics I |
(3 credit hours) |
| ECON 2311 | Intermediate Macroeconomics II |
(3 credit hours) |
| ECON 3010 | Malaysian Economy |
(3 credit hours) |
| ECON 3110 | Econometrics I |
(3 credit hours) |
| ECON 3410 | Money and Banking |
(3 credit hours) |
| ECON 3430 | Islamic Banking and Finance |
(3 credit hours) |
| ECON 3450 | Public Finance |
(3 credit hours) |
| ECON 3550 | Usul Fiqh I |
(3 credit hours) |
| ECON 3551 | Usul Fiqh II |
(3 credit hours) |
| ECON 4010 | History of Islamic Economic Thought |
(3 credit hours) |