Macroeconomic relations in the Islamic economic order

The author takes a technical and mathematical look at macroeconomics in an Islamic economy. Islamic economics is an extremely new field, reports the author, and thus it has not been very fully developed. The author demonstrates in the article that once the practice of interest is removed from an economic system, the macroeconomic landscape of the system changes radically. Particularly noted by the author are IS and LM schedules, as is the institution of zaka . The author shows in the article how the system of Islamic macroeconomics differs deeply from conventional economics. He sees the key aim of Islamic economics as the achievement of the social justice Islam strives for.