Private In-Home and Online Islamic Economics Tutoring Near You
Receive personally tailored Islamic Economics lessons from exceptional tutors in a one-on-one setting. We help you connect with in-home and online tutoring that offers flexible scheduling and your choice of locations. Varsity Tutors helps thousands of people asking, "How do I connect with the best Islamic Economics tutors near me?"
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Most students of economics are familiar with market and socialist economies, but Islamic Economics are not as well known. In general, Islamic Economics apply the tenets of the Qur'an to an economic context, creating a system that diverges significantly from other models. If you're having a hard time wrapping your head around this different paradigm, Varsity Tutors can refer you to an Islamic Economics tutor today.
Here are some of the core concepts you may discuss during Islamic Economics tutoring sessions:
Macro/Micro Islamic Economic Analysis
Quran Teachings in Economics
Islamic Banking (Prohibition of Riba, or Interest)
Islamic Theory of Taxation (Zakat, or taxes, are paid based on wealth and not trade)
Prohibition of Gharar (Uncertainty) in Business Dealings
Mudarabah Models (Profit and Loss Sharing)
Your Islamic Economics tutor may create flashcards to make each term easier to remember. For example, the defining characteristic of Islamic Economics is the prohibition of interest of any kind, fundamentally altering how banks deal with consumers. Mudarabah is a system by which money is transferred from an investor to another party to do with as they like, with the resulting profits or losses shared according to a predetermined ratio. Many advocates of Islamic Economics support this model as being the most compliant with Islamic teachings, but it runs into several problems with risk and flexibility relative to Western banks.
Instead, most Islamic financial institutions use a "fixed profit" mechanism that guarantees a set return on what they lend. This takes uncertainty and the word "interest" out of the equation, but in function it's comparable to Western banking. You can dive into this topic during college Islamic Economics tutoring sessions to understand all of its details. Likewise, taxing wealth but not trade renders Western economic models concerning taxation moot. Your tutor can show you how viable this model is in a variety of economic scenarios. If you are having a hard time with the math involved, your tutor may also provide practice problems to help you develop the skills you need.
If you reached this page by searching for "Islamic Economics tutoring near me," you have come to the right place. Varsity Tutors specializes in referring students to independent tutors who can help unlock their academic potential. We also offer an exclusive Live Learning Platform so that you can study on your mobile device of choice of course. Contact Varsity Tutors today for more information!
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