Wednesday Forum: Framing the Complementarity between the Disciplines of Islamic and Conventional or Western Economics


The establishment of Islamic economics as an academic discipline has been motivated by a belief that the Islamic worldview differs from the worldview of Western capitalism. This premise seems to put Islamic economics in total opposition to conventional, or Western, economics. In the coming presentation, the speaker will argue that such an impression is wrong: although the Islamic worldview does differ from the worldview of Western capitalism, Islamic economics as an academic discipline was established to realize the Islamic worldview and can stand together with conventional  economics established in the West Arguing that each can benefit from the other. The speaker will introduce a new framework for Islamic economic analysis that lays a foundation for the complementarity between Islamic and conventional or Western economics. This new  framework can resolve the dilemma faced by Muslim economists and help to establish Islamic academic disciplines alongside their Western peers.

Akhmad Akbar Susamto is a lecturer at the Departemen of Economics and a faculty member at the master program specialize in Islamic Economics, Graduate School, UGM. In additional to conventional [Western] Economics education background, he has a strong interest in Islamic Political Economy, Islamic Economics and Islamic Finance. He earns his bachelor, master’s and PhD degrees in Economics from UGM, Monash University and Australia Nasional University respectively.



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