Q: 2. The first task of Islamic Economics is to study (i) Human Behaviour (ii) Human Will (iii) Human Wants (iv) Human Beings
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1 QUESTION BANK FOR IBFM PAPER-1 (FOUNDATION OF ISLAMIC ECONOMICS CHOOSE THE CORRECT OPTION OBJECTIVE TYPE QUESTION Q: 1. Man God relationship is defined by (i) Earth (ii) Tawheed (iii) Himself Q: 2. The first task of Islamic Economics is to study (i) Human Behaviour (ii) Human Will (iii) Human Wants (iv) Human Beings Q: 3. Islamic Economics need to take into consideration (i) Islamic values (ii) Institutions (iii) (i) & (ii) both Q: 4. Islam places all economic relations including exchange on the firm footing of: (i) Shariah (ii) Contract Q: 5. Islamic Economics is: (i) Value Neutral (ii) Value based Q: 6. Conventional Economics is: (i) Value Based (ii) Value neutral Q: 7. Creditor of Credit is: (i) Banking Institution (ii) Non Banking Institution (iii) Financial Market (iv) Financial services Q: 8. Purveyors of credit is (i) Banking Institution (ii) Lending (iii) Non Banking Institution
2 Q: 9. Islamic Financial system encourages (i) Risk sharing (ii) Interest (iii) Speculation (iv) Riba Q: 10. Islamic financial system Originates from (i) Market (ii) Share Market (iii) Shariah (iv) Spot market Q: 11. Islamic Financial system discourages (i) Hoarding (ii) Gambling (iii) Businesses Q: 12. Economics is derived from: (i) Greek words (ii) Italian words (iii) French words (iv) Indian words Q: 13. Oikos means (i) House (ii) Work place (iii) Play Ground (iv) Recreation place Q: 14. Nemein means (i) To play (ii) To work (iii) To manage (iv) To arrange Q: 15. A common medium of Exchange is (i) Commodities (ii) Money (iii) Silver (iv) Petroleum product Q: 16. Locke describe human nature (i) Divine Relation (ii) Philosophical relation (iii) Selfish motives Q: 17. Sovereignity is derived from latin word supernuus means (i) Great (ii) Supreme (iii) Lovingly
3 Q: 18. Father of modern Economics is: (i) Adam smith (ii) Marshall (iii) Robbins (iv) Keynes Q: 19. Wealth of Nations was published in (i) 1776 (ii) 1777 (iii) 1876 (iv) 1877 Q: 20. Who defined Economics as a Science of choice moving? (i) Adam Smith (ii) Marshall (iii) Robbins (iv) Pigon
4 QUESTION BANK FOR IBFM PAPER-1 (FOUNDATION OF ISLAMIC ECONOMICS LONG ANSWES TYPE QUESTION Q: 1. Define Economics. Q: 2. Describe the scope of Economics. Q: 3. Describe the nature of Economics. Q: 4. Discuss in brief the different social and Economic theories. Q: 5. Describe the main characteristics of physiocrats. Q: 6. Describe the main characteristics of Mercantilist. Q: 7. Differentiate between Micro & Macro Economics. Q: 8. Differentiate between static and Dynamic Economics. Q: 9. Write short notes on Laissez faire or hotmail Liberty. Q: 10. Differentiate between Capitalism and Socialism. Q: 11. Explain the Concept of Fascism. Q: 12. What is the need of Islamic Economics? Q: 13. Explain Economics system of Islam. Q: 14. Discuss the principles of the Economics of Islam. Q: 15. Distinguish the Economics planning of Islam and Conventional Economic planning. Q: 16. Describe the role of state in Islamic Economy. Q: 17. No Risk No Gain is the basic axiom of Islamic Economics. Explain. Q: 18. What is the primary function of Islamic Economics? Discuss. Q: 19. Explain Islamic financial system. Q: 20. What are the key elements of Islamic Economic system? Explain. Q: 21. Define the Goals of Islamic Economics. Q: 22. Write short note on (a) Financial Institutions (b) Financial Markets (c) Financial instruments (d) Financial services. Reference book: 1. Islamic Financial Markets
5 By Dr. Mohammad obaidullah Institute of objective studies, New Dehli Tel , The Rise and Development of Interest free Banking By khiyar abdalla khiyar Institute of objective studies. 3. Economics and Islam By Dr. Muhammad Mustehuddin Markazi Maktaba Islami, Delhi-6 4. Banking without Interest By Dr. Nejatullah Siddigoi Markazi Maktaba Islamic, Delhi-6 5. A Model of Pure Interest Free Banking By Mohamad Saeed shingeri Islamic Figh Academy, Jamia Nagar, New Delhi 25.
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Course Course Title Can count as (for undergrads only)
ASIA AND RELATED COURSES FALL 2011 Note: This is not an exhaustive list. If you think a course will count towards your requirements, send me the course description. Grad courses are in bold. Course Course