You are required to write (3000 words) assignment on one of the following topics

You are required to write (3000 words) assignment on one of the following topics:
1. Critically discuss why Islamic economics should be considered as a ‘political economy’ rather than within a specialised discipline of economics as conceived by neo-classical economics.
2. “The basic assumption of the Islamic approach to development is that ‘world- view’ and development strategies’ are inter-woven, so much that ‘unless the world-view and the strategy of a system are in harmony with its professed goals, the goals cannot be actualised” (Ausaf Ahmad). Critically discuss the Islamic strategy of development in the light of this assertion by referring to its foundational aspects.
3. Critically evaluate the Schumpeterian argument of a ‘Great Gap in Ideas’ by locating the contribution of Islamic scholarship to economics/political economy in the Middle Ages.
4. What are the distinguishing characteristics of the Islamic concept of utility as compared to the conventional concept of utility? Discuss this by paying particular attention to the Islamic political economy/Islamic moral economy perspective.
5. “Islamic economics should be considered as part of a system understanding beyond the limited scope of Islamic banking and finance”. Critically evaluate this statement and demonstrate whether in your opinion Islamic economics qualifies as a distinct system.
6. Orientalists, such as Weber and others, have argued that ‘Islam hinders economic development’. Discuss this statement by making reference to Weber, Rodinson, Turner, Kuran and Chapra among others.
7. Define the concept of ‘moral economy’ and present its articulations. Discuss why and how Islamic economics should be conceptualised as a ‘moral economy’ rather than ‘economics’.