| Ders Adı | Kodu | Yarıyıl | T+U Saat | Kredi | AKTS |
|---|---|---|---|---|---|
| Islamic Capital Market (Icm) | IEF 502 | 0 | 3 + 0 | 3 | 6 |
| Ön Koşul Dersleri | None |
| Önerilen Seçmeli Dersler | Corporate Finance, Financial Markets and Institutions, Islamic Finance, Investment Analysis, Portfolio Management, Risk Management, and Capital Markets. |
| Dersin Dili | Türkçe |
| Dersin Seviyesi | YUKSEK_LISANS |
| Dersin Türü | Seçmeli |
| Dersin Koordinatörü | Dr.Öğr.Üyesi S M RASHED JAHANGIR |
| Dersi Verenler | Dr.Öğr.Üyesi S M RASHED JAHANGIR, |
| Dersin Yardımcıları | None. |
| Dersin Kategorisi | Diğer |
| Dersin Amacı | The objective of this course is to introduce students to the structure, principles, instruments, and functioning of Islamic capital markets. The course aims to help students understand the role of Islamic capital markets within the broader financial system, identify major market segments such as sukuk, Islamic equity, Islamic funds, Islamic derivatives, and foreign exchange markets, and analyze these instruments from Shariah, regulatory, risk, and market-behavior perspectives. The course also aims to develop students’ ability to discuss investor sentiment, risk sharing, and contemporary issues in Islamic capital markets through academic literature, case studies, simulations, and applied analysis. |
| Dersin İçeriği | The course covers the foundations and development of Islamic capital markets, the role and types of capital markets, risk in capital markets, alternative capital markets, Islamic money and interbank markets, trading basics, sukuk markets, sukuk pricing and risk, Islamic equity markets and Shariah screening, foreign exchange markets, Islamic derivatives and risk management, regulation, |
| Kalkınma Amaçları |
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| # | Ders Öğrenme Çıktıları | Öğretim Yöntemleri | Ölçme Yöntemleri |
|---|---|---|---|
| 1 | Explain the structure, role, and principles of Islamic capital markets within the broader financial system. | Anlatım, Soru-Cevap, Tartışma, Grupla Çalışma, Problem Çözme, Proje, | Performans Değerlendirme, Sözlü Sınavlar, |
| 2 | Identify the main instruments and segments of Islamic capital markets, including sukuk, Islamic equity, Islamic funds, Islamic money markets, foreign exchange markets, and Islamic derivatives. | Anlatım, Beyin Fırtınası, | Yazılı Sınavlar (Kısa ve Uzun Yanıtlı), |
| 3 | Analyze Islamic capital market instruments in terms of Shariah compliance, risk-sharing principles, market practices, and regulatory requirements. | Anlatım, Beyin Fırtınası, | Yazılı Sınavlar (Kısa ve Uzun Yanıtlı), |
| 4 | Evaluate the risks associated with Islamic capital market instruments, including market risk, liquidity risk, credit risk, Shariah compliance risk, and governance-related risks. | Anlatım, Beyin Fırtınası, | Yazılı Sınavlar (Kısa ve Uzun Yanıtlı), |
| 5 | Apply basic analytical tools and market knowledge to examine sukuk pricing, Islamic equity screening, trading practices, and risk management mechanisms. | Problem Çözme, | Sözlü Sınavlar, Ödev / Evde-Çöz Sınavlar, |
| 6 | Discuss contemporary issues, innovations, investor behavior, and investor sentiment in Islamic capital markets using academic literature, case studies, and applied examples. | Anlatım, Soru-Cevap, | Yazılı Sınavlar (Kısa ve Uzun Yanıtlı), |
| Hafta | Ders Konuları | Ön Hazırlık |
|---|---|---|
| 1 | Introduction to the course; overview of Islamic capital markets and their role in the financial system | Review the course syllabus and become familiar with the basic concepts of capital markets and Islamic finance |
| 2 | Global capital markets: structure, development, and main institutions | Read Chapter 1 from the recommended course resources |
| 3 | The role and types of capital markets: primary market, secondary market, equity market, debt market, and Islamic capital market alternatives | Read Chapter 2 from the recommended course resources |
| 4 | Risk in capital markets: market risk, liquidity risk, credit risk, Shariah compliance risk, and systemic risk | Read Chapter 5 from the relevant course resource and review basic risk concepts |
| 5 | Alternative capital markets and the emergence of Islamic capital market structures | Review open-source materials and recent examples of alternative and Islamic capital market instruments |
| 6 | Money market and Islamic interbank money market: structure, instruments, and Shariah-compliant liquidity management | Read Chapter 5 from the recommended course resources |
| 7 | Trading basics and market simulation: order types, trading mechanisms, price formation, and investor behavior | Review open-source materials on trading basics and prepare for Quiz 1 |
| 8 | Midterm examination | Review all topics covered in Weeks 1–7 |
| 9 | Sukuk markets, sukuk pricing, and sukuk-related risks | Read Chapters 6 and 7 from Islamic Capital Markets: A Comparative Approach |
| 10 | Islamic equity markets and Shariah screening: sectoral and financial screening criteria | Read Chapters 8 and 9 from Islamic Capital Markets: A Comparative Approach |
| 11 | Foreign exchange markets in Islamic finance: Shariah issues, currency exchange principles, and market practicesDerivative Instrument : Products & Applications | Read Chapter 12 from Islamic Capital Markets: A Comparative Approach |
| 12 | Islamic derivatives and risk management: hedging, waʿd-based structures, and Shariah concerns | Read Chapters 10 and 11 from Islamic Capital Markets: A Comparative Approach |
| 13 | Regulation, governance, and Shariah boards in Islamic capital markets | Read Chapter 13 from Islamic Capital Markets: A Comparative Approach |
| 14 | Contemporary issues and innovations in Islamic capital markets; course review and final exam preparation | Review open-source materials, lecture notes, and all post-midterm topics |
| Kaynaklar | |
|---|---|
| Ders Notu | Course notes will consist of lecture slides, academic articles, case studies, market reports, opensource materials, and applied examples shared by the instructor during the semester. Students are expected to follow weekly readings, participate in classroom discussions, complete quizzes and article presentations, and prepare a term paper related to Islamic capital markets. |
| Ders Kaynakları | 1. Islamic Capital Markets: A Comparative Approach. Wiley Finance Series, John Wiley & Sons, 2013. 2. The Capital Markets: Evolution of the Financial Ecosystem. Wiley, New Jersey, 2017. 3. Fundamentals of Islamic Money and Capital Markets. John Wiley & Sons, 2013. 4. Additional academic articles, case studies, open-source materials, regulatory reports, and market data provided by the instructor. |
| Sıra | Program Çıktıları | Katkı Düzeyi | |||||
|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | İslam İktisadı ve Finans alanında güncel bilgileri içeren ders kitapları, makaleler ve araştırmalarla desteklenen ileri düzeyde kurumsal ve uygulamalı bilgilere sahip olma. | X | |||||
| 2 | Konvansiyonel İktisat ve Finans disiplinlerine dair teorilere hâkim olup karşılaştırmalı analiz yapma. | X | |||||
| 3 | Ekonomik aktörlerin karşılaştıkları problemleri kritik ederek İslam İktisadı ve Finans temelinde çözümler üretebilme. | X | |||||
| 4 | Uygulamaya yönelik edindiği bilgileri iş hayatında kullanabilme. | X | |||||
| 5 | Alana dair öğrendikleri ile çalıştığı kuruma yeni bir vizyon sunarak verimli ve etkin stratejiler geliştirebilme. | X | |||||
| 6 | Ekonomik verileri toplama, düzenleme ve analiz etmede gereken istatistik ve ekonometrik yöntemleri bilme ve bilgisayar programlarını kullanabilme. | X | |||||
| 7 | Öğrenilen cebirsel ve istatistik yöntemleriyle kamu ve iş dünyasının karşılaştığı sorunları çözme yeteneğine sahip olma. | X | |||||
| 8 | İslam İktisat Teorisi, İslam İktisat Tarihi, İslam İktisat Düşüncesi, Muamelat Fıkhı, Katılım Bankacılığı, Katılım Sigortacılığı ve İslami Sermaye Piyasaları gibi İslam İktisadı ve Finansın seçmiş olduğu alt dallarında uzmanlaşma hedefine sahip olma. | X | |||||
| 9 | Gerek kamunun gerekse de özel kesimin gereksinim duyduğu yüksek becerili elemanlarda olması gereken yeterli düzeyde hukuk ve muhasebe bilgisine sahip olma. | X | |||||
| 11 | Yapacağı çalışmalarda toplumsal, bilimsel ve mesleki ahlâk kurallarının bilincinde olma. | X | |||||
| 12 | Yerel ve uluslararası platformlarda İslam İktisadı ve Finans alanına dair bilgi aktarımlarında bulunma. | X | |||||
| # | Ders Öğrenme Çıktılarının Program Çıktılarına Katkısı | PÇ 1 | PÇ 2 | PÇ 3 | PÇ 4 | PÇ 5 | PÇ 6 | PÇ 7 | PÇ 8 | PÇ 9 | PÇ 11 | PÇ 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Explain the structure, role, and principles of Islamic capital markets within the broader financial system. | 5 | 4 | 3 | 3 | 2 | 0 | 0 | 5 | |||
| 2 | Identify the main instruments and segments of Islamic capital markets, including sukuk, Islamic equity, Islamic funds, Islamic money markets, foreign exchange markets, and Islamic derivatives. | 5 | 5 | 3 | 4 | 3 | 0 | 0 | 5 | 3 | 3 | 3 |
| 3 | Analyze Islamic capital market instruments in terms of Shariah compliance, risk-sharing principles, market practices, and regulatory requirements. | 5 | 4 | 5 | 4 | 4 | 0 | 1 | 5 | 4 | 5 | 4 |
| 4 | Evaluate the risks associated with Islamic capital market instruments, including market risk, liquidity risk, credit risk, Shariah compliance risk, and governance-related risks. | 5 | 4 | 5 | 4 | 4 | 1 | 2 | 5 | 3 | 5 | 3 |
| 5 | Apply basic analytical tools and market knowledge to examine sukuk pricing, Islamic equity screening, trading practices, and risk management mechanisms. | 5 | 4 | 5 | 5 | 4 | 2 | 3 | 5 | 3 | 4 | 3 |
| 6 | Discuss contemporary issues, innovations, investor behavior, and investor sentiment in Islamic capital markets using academic literature, case studies, and applied examples. | 5 | 4 | 4 | 3 | 4 | 1 | 1 | 5 | 2 | 4 | 5 |
| Değerlendirme Sistemi | |
|---|---|
| Yarıyıl Çalışmaları | Katkı Oranı |
| 1. Ara Sınav | 0 |
| 1. Kısa Sınav | 0 |
| Toplam | 0 |
| Toplam | 0 |
| AKTS - İş Yükü Etkinlik | Sayı | Süre (Saat) | Toplam İş Yükü (Saat) |
|---|---|---|---|
| Ara Sınav | 1 | 5 | 5 |
| Kısa Sınav | 1 | 4 | 4 |
| Sözlü Sınav | 1 | 6 | 6 |
| Ödev | 1 | 6 | 6 |
| Final | 1 | 10 | 10 |
| Ders Süresi (Sınav haftası dahildir: 16x toplam ders saati) | 16 | 5 | 80 |
| Sınıf Dışı Ders Çalışma Süresi(Ön çalışma, pekiştirme) | 10 | 4 | 40 |
| Toplam İş Yükü | 151 | ||
| Toplam İş Yükü / 25 (Saat) | 6,04 | ||
| dersAKTSKredisi | 6 | ||