Islamic Economics

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1 ISLAMIC ECONOMICS MES (Middle East Studies) 1994A-S01 Dr. Sarah Tobin, Associate Director of Middle East Studies Course Location: Tuesdays/Thursdays 2:30 pm - 3:50 pm Rockefeller Library A9 Contact Information: Middle East Studies Watson Institute, Office #322 [email protected] 401-863-3695 (office) Office hours by appointment COURSE OVERVIEW: Despite the fact that the scriptural and early historical legacy of Islam is widely considered to be market-friendly, debates about the relationships between Islam and capitalism abound. This course moves beyond simplistic concerns of compatibility or conflict, and delves into the diverse ways by which Muslims from around the globe have devised a range of social, cultural, religious, legal and fiscal strategies that enable them to both remain true to their faith and live in today’s swiftly-evolving economic context. The course begins by tracing major theoretical, theological, and historical lines of inquiry into the structure and development of both Islam and economy. It progresses through anthropologically and sociologically important works on contemporary economic life for Muslims in many global contexts, and then the course culminates in an in- depth examination of the development and practices of Islamic banking and finance. These contemporary and cross-cultural approaches will be anthropological and sociological in their underpinnings, but will also tap into theological and historical methods as well as economics. This interdisciplinary perspective gives us insight into the role of economic practices in the diverse lives and livelihoods of Muslims around the world. There are no prerequisites for this course. This course fulfills an elective option in the MES Concentration. GRADES AND EVALUATION: To succeed in this class, you must do the following: 1) READ. Success in this course hinges on regular reading. The readings are the most important source of information in this class. You will be required to read daily and critically. The benefit to you is that your mind will be immersed in the issues daily, resulting in better learning! 2) SHARE YOUR IDEAS WITH OTHERS. Discussion is a key component of this course, as is leading a class discussion. You are required to develop opinions and thoughts about the readings, and to share them with others.

Transcript of Islamic Economics

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ISLAMIC ECONOMICS MES (Middle East Studies) 1994A-S01

Dr. Sarah Tobin, Associate Director of Middle East Studies

Course Location: Tuesdays/Thursdays 2:30 pm - 3:50 pm

Rockefeller Library A9

Contact Information: Middle East Studies

Watson Institute, Office #322 [email protected]

401-863-3695 (office) Office hours by appointment

COURSE OVERVIEW: Despite the fact that the scriptural and early historical legacy of Islam is widely considered to be market-friendly, debates about the relationships between Islam and capitalism abound. This course moves beyond simplistic concerns of compatibility or conflict, and delves into the diverse ways by which Muslims from around the globe have devised a range of social, cultural, religious, legal and fiscal strategies that enable them to both remain true to their faith and live in today’s swiftly-evolving economic context. The course begins by tracing major theoretical, theological, and historical lines of inquiry into the structure and development of both Islam and economy. It progresses through anthropologically and sociologically important works on contemporary economic life for Muslims in many global contexts, and then the course culminates in an in-depth examination of the development and practices of Islamic banking and finance. These contemporary and cross-cultural approaches will be anthropological and sociological in their underpinnings, but will also tap into theological and historical methods as well as economics. This interdisciplinary perspective gives us insight into the role of economic practices in the diverse lives and livelihoods of Muslims around the world. There are no prerequisites for this course. This course fulfills an elective option in the MES Concentration. GRADES AND EVALUATION: To succeed in this class, you must do the following: 1) READ. Success in this course hinges on regular reading. The readings are the most important source of information in this class. You will be required to read daily and critically. The benefit to you is that your mind will be immersed in the issues daily, resulting in better learning! 2) SHARE YOUR IDEAS WITH OTHERS. Discussion is a key component of this course, as is leading a class discussion. You are required to develop opinions and thoughts about the readings, and to share them with others.

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3) SHARE YOUR LIFE EXPERIENCES. We all bring different experiences and ideas about wealth, poverty, culture, and the economy in general to this class. Do lectures and readings make sense of your experiences? Do your experiences contradict the theories? I will respect your right to set boundaries on how much you share with others, but I do expect some degree of willingness to open your life to others, and I expect that you too will listen to them with mutual respect. Late submissions of any assignment will not be accepted, except under documented emergency circumstances. Please read Brown University’s policies on academic conduct carefully (http://www.brown.edu/Administration/Dean_of_the_College/curriculum/documents/principles.pdf). Handing in someone else’s work or ideas as your own (even if you worked on it together as a group) constitutes plagiarism, as does using someone’s ideas without appropriate citations. You must give a citation when you use an author’s ideas in your writing, even if you do not quote the text word-for-word. If you have any questions, please ask. Be informed and be careful. COURSE ASSIGNMENTS: 20% Active participation in class (attendance is mandatory) 20% Present/Lead class discussion – 20 minutes 15% Islamic Center Visit and Response Paper 45% 3 Response Papers (15% each) 100% CLASS ATTENDANCE: This is mandatory. Come on time. Stay the whole time. This is important. CLASS SCHEDULE: TH January 22: Course Introduction T January 27: Schielke, Samuli. 2012. “Capitalist Ethics and the Spirit of Islamization in Egypt” In Ordinary Lives and Grand Schemes: An Anthropology of Everyday Religion. New York and Oxford: Berghahn Books. Schielke, Samuli and Liza Debevec, Editors. Optional Readings: Kuran, Timur. “Islamic Economics and the Islamic Subeconomy.” The Journal of Economic Perspectives. Vol 9, No. 4 (Autumn, 1995), pp. 155-173. Kuran, Timur, “Why the Middle East is Economically Underdeveloped: Historical Mechanisms of Institutional Stagnation.” The Journal of Economic Perspectives. Vol 18, No 3 (Summer 2004), pp. 71-90. TH Jan 29: Tripp, Charles. 2006. Islam And The Moral Economy. Cambridge: Cambridge Books. Introduction and Part 1

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T Feb 3: Tripp, Charles. 2006. Islam And The Moral Economy. Cambridge: Cambridge Books. Parts 2 and 3 TH Feb 5: Tripp, Charles. 2006. Islam And The Moral Economy. Cambridge: Cambridge Books. Part 4 T Feb 10: Tripp, Charles. 2006. Islam And The Moral Economy. Cambridge: Cambridge Books. Part 5 and Conclusion TH Feb 12: Kuran, Timur. 2004. Islam And Mammon: The Economic Predicaments of Islamism. Princeton: Princeton University Press. Chapters 1 and 2 T Feb 17: No Class - Brown Long Weekend TH Feb 19: Kuran, Timur. 2004. Islam And Mammon: The Economic Predicaments of Islamism. Princeton: Princeton University Press. Chapters 3 and 4 T Feb 24: Kuran, Timur. 2004. Islam And Mammon: The Economic Predicaments of Islamism. Princeton: Princeton University Press. Chapters 5 and 6 TH Feb 26: Class is cancelled today – complete your Islamic Center visit! Response Paper #1 Due T March 3: Atia, Mona. 2013. Building A House In Heaven: Islamic Charity In Neoliberal Egypt: University Of Minnesota. Introduction and Chapters 1 and 2 TH March 5: Atia, Mona. 2013. Building A House In Heaven: Islamic Charity In Neoliberal Egypt: University Of Minnesota. Chapters 3, 4, and 5 T March 10: Atia, Mona. 2013. Building A House In Heaven: Islamic Charity In Neoliberal Egypt: University Of Minnesota. Chapter 6 and Conclusions

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TH March 12: Rudnyckyj, Daromir. Spiritual Economies: Islam, Globalization, and the Afterlife of Development. Ithaca: Cornell University Press, 2010. Part 1 T March 17: Rudnyckyj, Daromir. Spiritual Economies: Islam, Globalization, and the Afterlife of Development. Ithaca: Cornell University Press, 2010. Part 2 TH March 19: Rudnyckyj, Daromir. Spiritual Economies: Islam, Globalization, and the Afterlife of Development. Ithaca: Cornell University Press, 2010. Part 3 and Conclusions Response Paper #2 Due SPRING BREAK T March 31: Hendrick, Joshua. 2014. Gülen: The Ambiguous Politics of Market Islam in Turkey and the World. New York: New York University Press. Introduction, Chapters 1 and 3 (Skip Chapter 2) TH April 2: Hendrick, Joshua. 2014. Gülen: The Ambiguous Politics of Market Islam in Turkey and the World. New York: New York University Press. Chapters 4, 5, and 6 T April 7: Hendrick, Joshua. 2014. Gülen: The Ambiguous Politics of Market Islam in Turkey and the World. New York: New York University Press. Chapters 7 and 8, Conclusions Islamic Center Fieldtrip Response Paper is Due TH April 9: Young and Defiant in Tehran by Shahram Khosravi. U Penn Press. 2008. Introduction and Chapters 1 and 2 T April 14: Young and Defiant in Tehran by Shahram Khosravi. U Penn Press. 2008. Chapters 3 and 4 TH April 16: Young and Defiant in Tehran by Shahram Khosravi. U Penn Press. 2008. Chapters 5 and 6 and Conclusion

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T April 21: Tobin, Sarah (forthcoming). Everyday Piety: Islam and Economy in Amman, Jordan. Cornell University Press. Chapters 1 and 2 Response Paper #3 Due TH April 23: Tobin, Sarah (forthcoming). Everyday Piety: Islam and Economy in Amman, Jordan. Cornell University Press. Chapters 3 and 4 T April 28: Tobin, Sarah (forthcoming). Everyday Piety: Islam and Economy in Amman, Jordan. Cornell University Press. Chapters 5 and 6 TH April 30: Tobin, Sarah (forthcoming). Everyday Piety: Islam and Economy in Amman, Jordan. Cornell University Press. Chapters 7 and 8

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GUIDELINES FOR PRESENTATION/LEADING CLASS DISCUSSION

It is best to think of this assignment as an informed, even critical look at the topics in the readings for the day. There will be part presentation and part leading class discussion. The latter is reliant upon thorough work in the former. I. Researching the Topic: Research at least three published, academic sources on the assigned topic of presentation, in addition to the assigned (required) reading material for that topic. II. Preparing the Presentation Portion: Prepare your presentation using the following guidelines:

A. List the assigned reading(s) and the additional sources you have researched. B. After reading all the material, answer the following questions as a guide to ensure that you have grasped the material, always centering your answers on the assigned topic:

1. What are the main points or objectives of each author? 2. Did each author present a sound supporting argument, or in any other way achieve the intended objective(s) set by the article? 3. What methods or techniques did the author use? Did you find them adequate to the task the author was trying to accomplish? 4. What are the major conclusions, and do you find them plausible? 5. In your view, what could the author have done differently to make the article more meaningful to you?

C. This is the main task of the presentation portion: Present a concise synthesis of the class topic based on all of the authors you have read and evaluated. D. Present critical comments based on your own understanding of the material, and your understanding of reality (e.g., are there obvious biases - racial, ideological, philosophical, etc.; did the author misrepresent the subject matter; what other "facts" should have been included; etc.). What is your personal opinion of the subject matter? On what are your opinions based? Feel free to include in your presentation any other relevant information to which you have access, and which you think would be of interest to your audience. E. This, too, is important: Raise questions that you would like the class to discuss and/or that you would like to be clarified, explained or elaborated.

III. Making the Presentation:

A. Prepare an outline of your presentation, and give a copy to each student in the class at the beginning of your presentation. If you do not have a typed outline, you will lose points. Also, please provide me with copies of the articles that you use.

B. In class: You are encouraged to use the whiteboard during your presentation. You may choose to use Powerpoint or multi-media. However, it should supplement your presentation, not supplant it. If your visual/media aids detract from the presentation, you will lose points. C. Your presentation should be no more than 10-15 minutes. If you exceed 15 minutes, I will end your presentation, and you will lose points.

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IV. Leading the Discussion:

A. At this point, much of the discussion format is up to you. You should develop specific questions to which you ask the class to contemplate, respond, and ask additional questions. You may assign specific questions to particular members of the classroom, given what you know about their research interests. You should be prepared to call into play 1) things we have discussed in other class sessions; 2) things you have learned in other classes; 3) things that you have experienced in your own life. Think expansively here. B. One of the most difficult aspects of leading class discussion is to make abstract ideas concrete. Make sure that your class discussion spans the realms between the abstract or theoretical and the concrete or empirical with ease. C. Class Discussion should continue, under your leadership, for 5-10 more minutes. If you exceed 10 minutes of class discussion (20 minutes total), I will end the discussion. Depending on the quality of and topics for discussion, however, I reserve the right to not stop you, to allow the discussion to continue, and to contribute to the discussion as appropriate.

V. Skills Development to be Derived from this Exercise: The following are some of the skills the presentation is intended to help develop:

A. Independent research. B. Reading comprehension and interpretation. C. Critical evaluation of texts. D. Synthesis of different or divergent perspectives on a topic. E. Organization of written and oral presentation. F. "Managing" an oral presentation. G. Verbal communication skills.

V. Aspects of Presentation Considered in Grading: 100 points (20% of the grade) divided equally between:

A. Knowledge of material (assigned and self-selected). B. Supplementary Materials. C. Originality; incorporate your own ideas and opinions. D. Delivery: poise, self-presentation, command of audience. E. Conformity to time frame. F. Ability to generate class discussion. G. Ability to move class discussion forward in an inclusive fashion that involves the class.

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GUIDELINES FOR RESPONSE PAPERS There are three response papers due during the course of the semester. Each response paper should be five double-spaced pages. PLEASE do not use abnormally large or spacious fonts or unduly large margins. Do not write more than five pages, or your grade will be negatively impacted. Based upon the major empirical, methodological, and theoretical aspects of the books, craft an argumentative, thesis-driven essay that accomplishes the following:

• It describes your original ideas of what this book also tells us about the subject. You need to develop a thesis that goes beyond summarizing and describing the book and beyond what is discussed in class. What ELSE do you see in the book that the author doesn’t explore? What are its implications? This is your thesis. This is important.

• Couch this thesis within an introduction that draws down to the thesis you describe. • Then tie together 3-5 empirical cases that most clearly elucidate this point. Be clear. Be

analytical. Each case should build upon the previous, resulting in the cumulative effect of a well-crafted argument.

• As space permits, introduce a counterargument. Refute the counterargument. This is the difference between a good paper and a great paper.

• Then, if you have accomplished these tasks, the conclusion will be the “logical” end of the paper. Do not introduce new information in the conclusion.

This is a standard, 5-point, thesis-driven essay that does not require outside reading or research, but challenges your critical reading of class materials. If you are uncertain about this, please seek out the resources available to you. There are writing tutors available to help you. Read each other’s papers. Do not rely solely on me to provide the critical and important feedback necessary to develop your writing.

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GUIDELINES FOR ISLAMIC CENTER FIELDTRIP AND RESPONSE PAPER This 5-page response paper will highlight the following things:

1) 1-page: Where did you go? What is the context (history, demographic present, architecture, etc.) for the center? This is a basic explanation of the visit.

2) 2 page/s: Compare and contrast what you experienced with what you had expected. 3) 2 pages: Based on your observations, explain how a theme from our class is addressed by

the center. How does the center view Islamic ethics and economics? Is there a store that sells Islamic “goods?” Are there educational opportunities to learn about Islamic economics? Services to help congregants? Requirements for participation? What about charitable giving? What is “Islamic” about this? In this urban, Islamic space, how are the questions of economy and Islam approached and addressed?

Things to look for to make the most of your visit: public seminars, brochures, tours, Sunday School classes, study groups, and Friday prayers and khutbas, or sermons. KEEP IN MIND: ** You are responsible for contacting the center you wish to visit and coordinating your visit. It is highly recommended that you conduct this with classmates to pool resources and to maximize your experiences. ** PLEASE keep in mind that standards for appropriate dress and comportment will be expected. Dress codes in a mosque require women to cover their hair and neck. Centers will likely frown upon shorts, short skirts, and short-sleeved shirts and v-necks. Be respectful. Ask before you arrive if there are dress code requirements. Abide by them. ** You may find it personally and intellectually interesting to visit during a prayer time. Ask if you can observe a prayer. Think about how questions of economy emerge during prayer, and what aspects of social life they may emphasize and what aspects they may downplay. Then, let’s talk about it. Possible Centers for visiting may include (but are not limited to these. Also keep in mind that area universities often have Islamic Centers. Please see me if you have other ideas): 1. The Islamic Center of New England with locations in Quincy and Sharon. http://www.icne.net/

2. Islamic Center of Boston in Wayland http://www.icbwayland.org/

3. Islamic Society of Boston Cultural Center in Roxbury Crossing http://isbcc.org/schedule-a-tour/ 4. Islamic Center of Rhode Island in Providence http://www.rimasjid.org/

5. Rhode Island Council for Muslim Advancement (also contains a list of local mosques) http://www.ricma.org/community.html