The Influence of Islamic Macroeconomic Understanding on the Modern Economy: A Case Study of Students

Abstract

An understanding of Islamic macroeconomics plays a crucial role in shaping just and sustainable economic policies in the modern economy. Unlike conventional economics, Islamic macroeconomics is based on the principles of monotheism, justice, balance, and the prohibition of usury, gharar, and maysir. An understanding of Islamic macroeconomics can influence economic stability, inclusive growth, and the distribution of prosperity through instruments such as zakat, waqf, and a profit-sharing financial system. By implementing Islamic economic concepts in fiscal and monetary policy, it is hoped that a more stable, just economic system will be created, capable of facing global challenges such as economic inequality and the financial crisis. The researcher's objective was to determine the influence of an understanding of Islamic macroeconomics on the modern economy. The method used was a qualitative method with an approach of reviewing various references and literature. The results of these references, researchers obtained several important points regarding the influence of an understanding of Islamic macroeconomics on the modern economy. The results of this study can be used as initial data for subsequent researchers in examining the influence of an understanding of Islamic macroeconomics on the modern economy.