Lecture 3

Slide presentation : Lecture # 3

Participants: Nadia Abbas(Reg# 59 SE-MS IBF-F12)

Anika Kanwal (REg# 94 SE-MS ECO -F12)

Date: 8/May/2013

This lecture present the idea that how intervention of physical sciences ruined the whole concept of social sciences, which was totally related to human behavior and it should be understood by economists that human behavior cannot be calculated by equation.

Now it’s great opportunity for Muslims to contribute with strong and real world related ideas of Islamic Economics. Because this is the only way to prevail justice and fairness in economy and to stop the hand of Capitalism to exploit the labors.

There is huge difference in concept of happiness and wealth between secular system and teaching of Islam. In secular society there is concept of luxury life. In Islam collective benefit and welfare is most important. Islam emphasis learning, encouragement to read but do not sajda to west.