Middle semester exam 2021/2022

MIDDLE SEMESTER EXAM 2021/2022
Subject : Islamic Economic and Finance
Day/Date. :Friday /22 April 2022
Time : Collected Friday at 18.00 Tashkent Time to email [e-mail]
Lecturer : Dr. Julian, S.Pd., MESy.
================================================== =======
Attention As Contract:

1. 
   Please answer briefly and clearly!
   
2. 
   Honesty is a form of character education, and violations will not be reprimanded. But Directly recorded and will reduce the Test Score.
   

================================================== =======
The current capitalism economic system is the economic system that most dominates the wilderness of economics. It can even be said that this economic system is the only system that now dominates almost the entire face of the earth.
The birth of this economic system was caused by failure after failure of economic regulation originating from economic flows that had previously been implemented. According to Deliarnov (1997) and Koesters (1987), the economics of capitalism was born from Europe. However, according to Roy Davies and Glyn Davies, 1996 in the book The History of Money From Ancient Time of Present Day, describes the history of chronology comprehensively. According to them, throughout the 20th century there have been more than 20 major crises that hit many countries. This fact shows that on average, every 5 years there is a severe financial crisis that causes suffering for hundreds of millions of human beings.
Departing from that, not a few Muslim intellectuals are looking for an economic system that is capable of being a solution to today's economic problems. At the same time, historical facts state that Muslims have reached the peak of glory, especially in the economic field by using the Islamic economic system, which is a system that began to be implemented at the time of the Prophet Muhammad. Then followed by the khulafaur Rashidun to the Ottoman Caliphate.


Question:

1. 
   Explain the scope of the study of Islamic Economics and the relationship between Islam and Economics!
   
2. 
   Explain the difference between Economics and Economics!
   

3. The capitalist economic system is built with 3 basic frameworks, namely scarcity as an economic problem, the concept of value of goods (value) and the role of price in production, consumption and distribution.
a. Explain the three basic frameworks!
b. Explain the fallacy of the three basic frameworks both in fact and in the perspective of Islamic Economics!
4. What are the economic principles in the communist Socialist Economic System? Explain the fallacy of the Communist Socialist economic system!
5. Explain the principles of the Islamic economic system including its basic framework!