Bachelor of Economics (Hons.)

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.

Programme Description

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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)

ECON 4740 Asean Economics (3 credit hours)
PSCI 3620 International Political Economy (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.

MINOR IN FIQH USUL AL-FIQH AND QURAN AND SUNNAH STUDIES


Minor Packages

Students will take 11 required courses (33 credit hours) offered at the Department of Fiqh and Usul Al-Fiqh (FF), KIRKHS and 3 courses (9 credit hours) offered under the Islamic Economics specialization of the Bachelor of Economics program.

(a)  Minor in Fiqh and Usul Fiqh (FF)

(i)            Required Courses

RKFQ 3133A

Fiqh al-Mawarith & al-Awqaf: Juristic Study of Inheritance & Endownment

(3 credit hours)

RKFQ 4131A

Qawa’id wa Furuq Fiqhiyyah: Legal Maxim & Juristic Variations

(3 credit hours)

RKFQ 4151A

Nizam al-Hukm: Juristic Study of Islamic Polity

(3 credit hours)

RKFQ 4165A

Fiqh al-Qada’: Juristic Study of Judiciary

(3 credit hours)

RKFQ 4170A

Al-Fiqh al-Muqaran: Comparative Jurisprudence

(3 credit hours)

RKFQ 3222A

Adillat al-Ahkam: Evidence of Legal Rules

(3 credit hours)

RKFQ 3240A

Qira’ah Naqdiyyah fi Usul al-Fiqh: Critical Reading in Usul Fiqh

(3 credit hours)

RKFQ 4141A

Qadaya Fiqhiyyah Mu’asirah: Contemporary Juristic Issues

(3 credit hours)

RKFQ 3243A

Al-Ijtihadwa al-Ifta’: Rational Deduction and Decreeing

(3 credit hours)

RKFQ 4121A

Fiqh Al-Mu’amalat Al-Maliyyah: Juristic Study of Financial Transactions

(3 credit hours)

RKFQ 4123A

Mu’amalat Masrafiyyah wa Aswaq Maliyyah: Banking & Financial Markets

(3 credit hours)

ECON 3512

Fiqh for Economists III (Pre-req: ECON 3511)

(3 credit hours)

ECON 4530

Objectives of Shariah (Pre-req: ECON 3551)

(3 credit hours)

ECON 4550

Economics of Zakat ( Pre-req: ECON 3550

(3 credit hours)


(ii)          Transfer of Credit on Similar Fiqh and usul Fiqh Courses

BECS students are required to take ECON 3510 and ECON 3430. These two courses have similar contents to the two Fiqh courses (RKFQ 4121A and RKFQ 4123A) offered at the Department of Fiqh and Usul Al-Fiqh. Economics students doing a minor in FQ and KIRKHS student minoring in Economics will be allowed to transfer 6 credit hours of the following two courses taken at their respective Kulliyyah given the similarity of the course contents of each course.                                                 

KIRKH Courses

Equivalent KENMS Courses

RKFQ 4121A

Fiqh Al-Mu’amalat Al-Maliyyah: Juristic Study of Financial Transactions

ECON 3510: Fiqh for Economist 1

RKFQ 4123

Al Mu’amalat Masrafiyyah wa Aswaq Maliyyah: Banking & Financial Markets

ECON 3430: Islamic Banking and Finance

 

(b)  Minor in Quran and Sunnah Studies

Students minoring in Qur’an and Sunnah Studies are required to take 33 credit hours (11 courses) comprising of the following courses:

(i)            Required Courses

RKQS 2011A

“Ulum al-Qur’an

(3 credit hours)

RKQS 2012A

‘Ulum al-Hadith

(3 credit hours)

RKQS 3131A

Ayat al-Ahkam: Legislative Versus

(3 credit hours)

RKQS 3211A

Ahadith al-Ahkam: Legislative Texts of Hadith

(3 credit hours)

RKQS 4030A

Manahij al-Mufassirin: Methodology of Exegetes

(3 credit hours)

RKQS 4211A

Takhrij al-Hadith: Retrieval of Hadith

(3 credit hours)

RKQS 4222A

Mabadi’ al-Ta’amul ma’a al-Sunnah: Principles of Dealing with Sunnah

(3 credit hours)

RKQS 4231A

Ittijahat Hadithah fi Dirasat al-Sunnah: Modern Trends in Sunnah Studies

(3 credit hours)

ECON 4510

Issues in Islamic Economics (pre-req: Econ 3550)

(3 credit hours)

ECON 4530

Objectives of Shariah (pre-req: Econ 3551)

(3 credit hours)

Econ 4540

Al-Iqtisah fi’l Qur’an wa’l Sunnah (Economics in the Qur’an & Sunnah) (pre-req: Econ 3551)

(3 credit hours)

In addition, students are to choose 3 (9 credit hours) out of the following 4 courses:

(ii)          Elective Courses

 

RKQS 4121A

Al-Khitab al-Qur’ani: Quranic Discourse

(3 credit hours)

RKQS 4160A

Al-Ittijahat al-Hadithah fi al-Tafsir: Modern Trends in Tafsir

(3 credit hours)

RKQS 4241A

Al-Jarh wa al-Ta’dil Criticism of Transmitters

(3 credit hours)

RKFQ 4151A

Nizam al-Hukm: Juristic Study of Islamic Polity

(3 credit hours)

 

Entry Requirements

The minimum entry requirement for the Bachelor of Economics program is a CGPA of 2.5 and a grade of B (or QPE of 3.00) 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)

 

Courses