To begin with, this article takes a brief look at the western concept of economy and how it developed then, it examines the debates and disputes among the economists on the distinction between positive as well as normative economics since its development and in this regard it gives a special emphasis to the role of values and value principles.After that the concept of economy in Islamic texts has been dealt with and it has been concluded that concepts such as scarcity, choice, and scarce resources management which underlie the current definitions of economics can be inferred from them.With regard to Shahid Sadr’s view that there is a distinction between the economics and an economic school of thought and that Islam has an economic school of thought rather than economics, it reflects the same futile distinction between normative and positive. Acknowledging the difference between a school of thought and a science, the article concludes that the economic school of Islam can and should orient the economics and Muslem economists and provide them with the necessary guidelines.

In the present age, it is the age of economic crises and challenges to moral values. Today, with many moral schools, we are faced with the dos and don’ ts of economic activities. On the one hand, the Islamic society needs a dynamic and developed economy, and on the other hand, it needs to consolidate and strengthen moral values in order to bring worldly and otherworldly happiness to people by making their activities healthier and countering economic corruption. The key question that has been dealt with in a descriptive-analytical way is what the moral school is in Islamic economics and conventional economics. The results of the study in this paper show that in the ethical school of conventional economics, the human goal of all activities is to avoid suffering or to attain material pleasure. However, the ethical school in Islamic economics attaches great importance to spirituality and considers the attention to materials to be legitimate to the extent that it does not hinder the spiritual growth and happiness of human beings.

In economics, rationality is an axiom for economic agents’ behavior that is taken from principles of Post-Renaissance anthropology. Instrumental rationality has solved the economic agents’ decision making problem, in theoretical approach. Some economists and Muslim economists have criticized the classic concept of rationality. Moreover, most of the other supplied frameworks for rationality are not complete. Then it is necessary to discussed more about this basic axiom, from Islamic economic viewpoint. So to do this, we have to provide a proper concept of rationality. Thus, first we review the base and concept of rationality in economics, then we review the viewpoint of Moslem economists, and finally we try to present the proper concept of rationality, regarding Islamic viewpoint.

this paper investigates the conformity of market participants’ decisions with the Islamic codes of conduct from the economic and philosophical perspectives. At the outset, the contributions of the renowned contemporary Muslim philosophers on the epistemological issues between the “ is” and the “ ought” are presented. Subsequently, a synthesized construct that would resolve the dichotomy between the normative and positive economy is outlined. The approach and the conclusions of this paper are expected to alleviate the dissatisfaction expressed by many Muslim economists for the sole application of the normative or positive economic methodology in the field. Furthermore, the paper validates arriving at conclusions in line with Islamic ethical norms by an empirical study of the actual economic behavior of market participants. The conclusions of this paper are not limited to economics but are expected to be applicable to all Islamic social sciences where similar issues are disputed.

This article is made up of two parts; The first part is on the definition and the domain of Islamic economics.The author has, in this part, tried to give an analysis and criticize of definitions given by Islamic economists. In the last analysis, the author states his own views. Finally in his opinion economics is also in part, a study on civilization and the human society which is defined as follows: "The study of individual and social behavior of man in relation to the use of resources in the direction of satisfying the material goals of man" The author is against the adding of Islamic stipulations to economics, and at the same time he believes that this science comprises part of what God has ordered us to learn in this world, in order to understand His divine providence.On such basis, the domain of economics, if it is to be redefined according to the Islamic point of view, is stated as follows: "Man's behavior in all its aspects and under any kind of ethical and religious value system and within any social and political and legal framework".The second part is on the subject of methodology, and answers the question that whether the Islamic economics calls for a special methodology, or whether as a comprehensive economics, it will accept the West' s scientific methods in economics and its general frameworks.The author, in this part, differentiates between the Islamic economic system and economics, and continues in two pivots: - The method of exploitation of an Islamic economic system.- The Islamic methodology of economics.From this point of view, the economic system is made up of three elements; Islamic philosophy or ideology, basic premises and the executive laws.Islamic economists must discover all the comprising elements of the system, in the shape of a concrete and manageable whole. The method of discovery is similar to that used in discovering theories and general rules in jurisprudence, some of which can be found clearly in the Holy Koran and the Tradition, and some others must be deduced from the collection of verses and narrations on various fields.About the Islamic methodology of economics, the author believes that: 1. In spite of the general of economical laws, their discovery is a process affected by the values held by the researchers themselv~s, as well as the social circumstances and the ethical schools of the social units.Islamic economists must recognize the effects of value systems on economics and differentiate between the two.2. The second duty of Islamic economists is to integrate the basic premises taken from religion into the positive economics.3. In the implementation of the above duties it is necessary to differentiate between the presumptions which are affected by the values held and the tools which are much less affected in the same way.4. In cleansing the laws of economics from non-Islamic values, and integrating Islamic values into economics and thus enriching economics and with the non-value basic premises taken from revelation, Islamic economists are obliged to redefine and correct a number of basic definitions of the theory of economics, but they do not need to reject the inductive method and the tools used for analysis of economical theories.

The purpose of this article is to criticize the criteria of policymaking in welfare economics and illustrate the criteria of economic policy making in Islam. In other words, we want to answer this question: what are the limitations of the criteria for policymaking in welfare economics and what is the solution proposed by the Islamic economics? Benefit-cost analysis is the main criterion of policymaking in welfare economics, and it seems to be rational. However, it has some limitations which are not accepted by the Islamic economics. After criticizing the welfare economics criteria, we illustrate these criteria in the Islamic economics. The results of this research show that the most important criterion of policymaking in Islam is to respect the rights of others in choosing the best alternative which is the base of other criteria like justice and efficiency. We have also added public satisfaction as a second criterion and illustrate the role of Maslahat (expediency) in policymaking. Finally, we show that the benefit-cost analysis is not universal, but it can be used in different situations and by some requirements in the Islamic economics. The criteria of Moslem policymakers are illustrated then.

According to the Economic Principle of the Constitution of the Islamic Republic of Iran, Cooperative economics, alongside the private and governmental sectors, has been identified as one of the three parts of Iranian economy. One of the fundamental questions, which have been under consideration from the day the law was approved till today, is the status of Cooperative economics between various Economic Systems. Whether Cooperative economics is mentioned as a complete economic system parallel to the Capitalist, Socialist and Islamic Systems? Or, according to what some have claimed, it is one of the subsectors of Capitalist Economy or, a more refined form of Socialism? What is its relationship with Islamic economics? Can it be used as a part of the Islamic Economic System? In the present article, through a descriptive-analytic method and by comparing the guidelines of Cooperative economics with that of the Capitalist Economic System, it is determined that Cooperative economics with respect to the fundamentals, operations and the results achieved, has basic differences with the economy of the Capitalist system. In such a way that, these two can be considered as two completely separate and different economic systems, but the distance that it has from Islamic guidelines is much lesser than that, which the Capitalist economic system has, from Islamic guidelines. Because of this through Islamic guidelines, corrections can be made and its weaknesses can be removed, and it can be considered as a part of the Islamic Economic System.