Macroeconomy

This entry explores the underpinnings of macroeconomics in Islamic economics and the principles derived from the Qur’an, hadith, and Islamic jurisprudence. The initial part defines macroeconomics according to mainstream economics, before drawing attention to the distinctive characteristics of macroeconomics in Islamic economics, which accentuate the importance of the ethical-economic equilibrium. The entry also examines the various approaches utilized by Islamic economics in realizing this balance.