Integrating Islamic Supply Theory into Economics Education: A Conceptual Analysis of Market Mechanisms, Production Efficiency, and Sharia-Based Ethical Values
Year: 2026
Type: article
Abstract: This article compares the conceptual foundations of consumption, saving, and investment in conventional and Islamic economics and examines their implications for national income equilibrium. A qualitative, comparative literature-review approach is applied to classical macroeconomic theories, Islamic economic scholarship, and relevant Qur’anic principles. The analysis distinguishes the Keynesian current-income consumption function from life-cycle and permanent-income approaches, then examines saving–investment coordination, aggregate demand, and multiplier effects. It contrasts these mechanisms with Islamic principles of lawful and moderate consumption, socially responsible wealth management, prohibition of riba, and financing linked to productive assets and risk sharing. The findings indicate that the accounting identity of national income and the analytical logic of planned saving–investment equilibrium remain useful in both frameworks; however, Islamic economics introduces additional normative criteria for the allocation and circulation of resources. Zakat and other transfers may affect the distribution of disposable income and aggregate consumption, while Sharia-compliant financial intermediation may channel savings toward real-sector activity, subject to institutional quality and investment conditions. The article proposes an integrative analytical framework separating macroeconomic identities, behavioral assumptions, and ethical objectives. These are theoretical implications rather than estimates of causal effects. The study contributes a structured comparison relevant to Islamic macroeconomic education and the design of inclusive financial policies.
Source: Edumaspul - Jurnal Pendidikan
Authors: Ramli, Ahmad Dzul Ilmi Syarifuddin, Nirmala
Institution: Institut Agama Islam Negeri Parepare
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7225612683
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