Master of Islamic Economics

This programme is designed to produce graduates who are not only knowledgeable of Islamic economic theory, but who can also apply such theories in Islamic banking and finance. The Master of Islamic Economics programme emphasises the conceptualization of the Islamic economy from a Shariah perspective.

Programme Goals

The goals of this programme are:

  1. to produce graduates that are competent, possessing both a depth of knowledge and a wide range of skills in Islamic economics, banking and finance, making them capable of meeting the needs of industry, research and education at home and abroad;
  2. support the vision and ambition of the government of Malaysia to make Malaysia a centre of innovation and excellence in the Islamic financial world; and
  3. to develop competencies in areas of study selected.

Learning Outcomes

Upon completion of the programme, graduates should be able to:

  1. demonstrate a systematic and in-depth understanding of Islamic banking and finance;
  2. master skills and methods of research in the field of Islamic economics;
  3. produce, develop, implement and apply research methodologies in a constructive manner;
  4. undertake research that yields original contributions and expands upon existing knowledge in the field of Islamic economics through the publication and defence of studies that reflect international standards and practices;
  5. critically analyse, evaluate and synthesize new and complex ideas;
  6. effectively communicate ideas relating to the field of Islamic economics to peers within the field of study and to the general public; and
  7. promote research in the social and cultural context unique to the management of the knowledge society.

Admission Requirements

Entry requirements are as follows:

  1. Bachelor of Economics with honours and with a good Cumulative Grade Point Average (CGPA) from UKM or any higher learning institution recognized by the UKM Senate; or
  2. Other qualification(s) equivalent to a Bachelor of Economics with honours and with a good CGPA from UKM of any higher learning institution recognized by the UKM Senate; and
  3. fulfills other requirements prescribed by the programme or Faculty;
  4. An international candidate from a country that are not using English as official language shall obtain a minimum TOEFL score of 550 or IELTS 6 or other english proficiency examination recognized by the UKM Senate.

Type of Registration and Period of Study

  1. Full time studies (three (3) to six (6) semesters)*
  2. Part time studies (four (4) to eight (8) semesters)*

*All courses will be conducted on weekdays and during working hours.

Programme Structure (Research Mode)

  1. Candidates enrolled in the research mode of study must successfully complete the following components:
    Prerequisite Courses 16 credits
    Thesis 40 credits
  2. The candidate must present and pass his research proposal.
  3. The candidate must present and pass his thesis oral examination.
  4. Candidates are also required to publish at least one (1) article in an indexed journal and publish at least one (1) article in a proceeding from a seminar/ conference/workshop approved by the Graduate Study Committee of the Faculty.

Programme Structure (Coursework Mode)

  1. Candidates enrolled in the coursework intensive mode of study must successtully complete 40 credits of courses modules, consisting of the following:
    Core Courses 16 credits
    Specialization Courses 16 credits
    Academic paper 8 credits
    TOTAL 40 credits
  2. Candidates are required to publish at least one (1) proceeding from a seminar/conference/ workshop that has been approved by the Graduate Study Committee of the Faculty.

List of Courses

  1. Core Courses/Pre-requisite Courses (16 credits)

    • EPPE6034 Econometric Methods
    • EPPE6514 Fiqh for Economics
    • EPPE6534 Advanced Islamic Economic Analysis
    • EPPE6544 Money, Zakat and the Real Economy
  2. Specialization Courses (16 Credits) [Coursework Mode only]

    • Islamic Banking

      • EPPE6524 Islamic Capital and Money Markets
      • EPPE6554 Islamic Banking
      • EPPE6564 Risk Management in Islamic Banking
      • EPPE6574 Current Issues in Islamic Banking
    • Islamic Finance

      • EPPE6524 Islamic Capital and Money Markets
      • EPPE6584 Islamic Financial Management
      • EPPE6594 Islamic Asset Management and Planning
      • EPPE6614 Theory and Practice of Takaful
  3. Malay Language Courses
    International candidates shall register and pass Malay Languange Courses as
    part of graduation requirement as prescribed by the UKM.

    • ZZZM1013 Bahasa Melayu as Foreign Language I
    • ZZZM1023 Bahasa Melayu as Foreign Language II
  4. Academic Paper (8 credits) [Coursework Mode only]
    • EPPE6940 Academic Paper
  5. Thesis [Research Mode only]

    • EPPE6940 Thesis

Requirements for Conferment of Degree (Research Mode)

Requirements for Conferment of Degree are as follows:

  1. Pass all the prerequisite courses;
  2. Pass the thesis oral examination;
  3. Fullfils the publication required ; and
  4. Fulfills any other conditions prescribed by the University

Requirements for Conferment of Degree (Coursework Mode)

Requirements for Conferment of Degree are as follows:

  1. Pass and achieve a final CGPA of ≥ 3.00;
  2. Complete the required number of credits for the programme;
  3. Fullfils the publication required ; and
  4. Fulfills any other conditions prescribed by the University.

Conversion to Doctorate Programme (Research Mode)

Candidates from Masters Programme (Research Mode) may apply to change to the
Doctorate Programme (Research Mode) with the approval of Graduate Committee
of the Faculty.Application

Intake

  • September (application is opened in April)
  • February (application is opened in October)

Application

Online application via http://guest.ukm.my
*Application fees for Malaysian is RM30.00 / International applicant is USD30 or RM100.00

Tuition Fees (Coursework Mode)

ItemLocalInternational
Full TimePart TimeFull Time Only
Registration (one time only)1,0108851,410
Services and Activities420200660
Tuition Fees1,4351,2353,200
TOTAL 1ST SEMESTER2,8652,3205,270
Subsequent semesters1,8551,4353,860
TOTAL FEES6,5756,62512,990
(3 semesters)(4 semesters)(3 semesters)

Tuition Fees (Research Mode)

ItemLocalInternational
Full TimePart TimeFull Time Only
Registration (one time only)1,0108851,410
Services and Activities8456251,085
Tuition Fees1,4351,2353,200
TOTAL 1ST SEMESTER3,2902,7455,695
Subsequent semesters2,2801,8604,285
TOTAL FEES7,8508,32514,265
(3 semesters)(4 semesters)(3 semesters)

If you have further enquiries, please do not hesitate to contact us:

Postgraduate Secretariat
Level 4
Faculty of Economics and Management
Universiti Kebangsaan Malaysia
43600 UKM Bangi
Selangor Darul Ehsan

Tel:+6038921 5775/ 5777/ 5776/5373
Fax:+603-89251821
Email: sitinora [a] ukm.edu.my

Study Funding Assistance

Eligible candidates are invited to apply for study funding assistance below: