1. ECONOMIC DEVELOPMENT
1.1. DEFINITION
1.1.1. IT REFER TO THE SUSTAINED, CONCERTED ACTION OF POLICY MAKERS OF A COUNTRY AND SOCIETIES THAT PROMOTE THE STANDARD OF LIVING AND ECONOMIC HEALTH OF A SPECIFIED AREA
1.2. POSITIVE CHANGES
1.2.1. SOCIO-ECONOMIC CHANGES
1.2.1.1. HUMAN CAPITAL DEVELOPMENT
1.2.1.2. INFRASTRUCTURE DEVELOPMENT
1.2.1.3. REGIONAL COMPETITIVENESS
1.2.1.4. ENVIRONMENTAL SUSTAINABLE
1.2.1.5. POVERTY REDUCTION
1.2.1.6. EQUITABLE INCOME DISTRIBUTION
1.2.1.7. ENHANCED HEALTHCARE
1.2.1.8. IMPROVED SAFETY
1.2.1.9. LITERACY DEVELOPMENT
1.2.1.10. SOCIAL AMENITIES
1.2.1.10.1. HOUSING
1.2.1.10.2. WATER
1.2.1.10.3. ELECTRICITY
1.2.2. TECHNOLOGICAL CHANGES
1.2.2.1. TECHONOLOGICAL DEVELOPMENT
1.2.2.2. INNOVATION
1.2.2.3. RESEARCH
1.2.2.4. OTHER INITIATIVES
1.3. INDICATOR OF ECONOMIC DEVELOPMENT
1.3.1. 1.RISE IN STANDARD OF LIVING
1.3.1.1. IMPROVED SOCIAL & ECONOMIC CONDITION
1.3.1.2. IMPROVED EMPLOYMENT OPPORTUNITIES
1.3.1.3. RISE IN PRODUCTIVITY
1.3.1.4. ACQUSTION OF KNOWLEDGE
1.3.2. 2. IMPROVEMENT IN GDP PER CAPITA
1.3.3. 3.INCREASE IN LITERACY RATE
1.3.4. 4.IMPROVED HEALTHCARE
1.3.4.1. LONGER LIFE EXPECTANCY
1.3.4.2. HEALTH SERVICES IMPROVEMENT
1.3.5. 5.SUSTAINABLE DEVELOPMENT
1.3.5.1. ENVIRONMENTAL CONSERVATION
1.3.5.2. RESOURCE PRESERVATION FOR FUTURE
1.3.5.3. ABUNDANCE FUTURE RESOURCE
1.3.6. 6.BALANCED DEVELOPMENT
1.3.6.1. BETTER INCOME DISTRIBUTION
1.3.6.2. POVERTY REDUCTION
1.3.6.3. BALANCED PENISULAR & EAST MALAYSIA DEVELOPMENT
1.4. ECONOMIC DEVELOPMENT GOALS
1.4.1. 1. IMPROVED IN PER CAPITA INCOME
1.4.1.1. POVERTY REDUCTION
1.4.1.2. INCOME DISTRIBUTION EQUALITY
1.4.2. 2.QUALITY OF LIFE IMPROVEMENT
1.4.3. 3.REDUCED IMBALANCE IN REGIONS DEVELOPMENT
1.4.4. 4.REDUCED IMBALANCE BETWEEN TRADITIONAL & MODERN SECTORS
1.4.5. 5.IMPROVED BASIC NEEDS
1.4.5.1. FOOD
1.4.5.2. CLOTHING
1.4.5.3. SHELTER
1.4.6. 6.SOLVED ENVIROMENTAL PROBLEMS
1.5. EFFECT OF ECONOMIC DEVELOPMENT
1.5.1. 1. LONG TERM ENVIRONMENTAL IMPLICANT
1.5.1.1. ECO SYSTEM INSTABILITY
1.5.2. 2.ECONOMIC PROBLEMS
1.5.2.1. INFLATION
1.5.2.2. COST HIKE
1.5.2.2.1. HEALTHCARE
1.5.2.2.2. EDUCATION
1.5.2.2.3. OTHER NECESSITIES
1.5.3. 3.INCOME INEQUALITY
1.5.3.1. RICH VS POOR
1.5.3.2. URBAN VS RURAL
1.5.4. 4.SOCIAL PROBLEM
1.5.4.1. FAMILY DISCRUPTION
1.5.4.2. RUNAWAY CHILDREN
1.5.4.3. YOUNGSTERS MORAL DECAY
2. DIFFERENCES
2.1. ECONOMIC GROWTH
2.1.1. A) NARROW CONCEPT
2.1.2. B) SCOPE : OUTPUT IN ECONOMY
2.1.3. C) FACTOR : RISE IN GDP : C, I ,G ,X
2.1.4. D) QUANTITATIVE MEASURE : GDP, GNI, REAL GDP
2.1.5. E) IMPACT : QUANTITATIVE CHANGES
2.1.6. F) RELEVANCE : PROGRESS IN DEVELOP COUNTRIES
2.1.7. G) SHORT TERM PROCESS
2.2. ECONOMIC DEVELOPMENT
2.2.1. A) BROAD & COMPREHENSIVE CONCEPT
2.2.2. B) SCOPE : STRUCTUAL CHANGE IN ECONOMY
2.2.3. C) FACTOR : RISE IN LIFE QUALITY : HDI, DROP IN INEQUALITY, STRUCTUAL CHANGES
2.2.4. D) QUANTITATIVE & QUALITATIVE MEASURE : REAL GDP, HDI, GDI, HPI
2.2.5. E) IMPACT: QUANTITATIVE & QUALITATIVE CHANGES
2.2.6. F) RELEVANCE : PROGRESS IN DEVELOPING COUNTRIES
2.2.7. G) LONG TERM PROCESS : CONTINUOUS
3. ISLAMIC ECONOMIC GROWTH
3.1. CONCEPTS
3.1.1. FOLLOW THE PRINCIPLES OF SOCIAL AND ECONOMIC JUSTICE
3.1.2. CONCEPTS OF HALAL (PERMISSIBLE) AND HARAM (FORBIDDEN) IS PRACTICED IN THE ECONOMY
3.1.3. GOALS : TO ACHIEVE TO USE AND BEST ALLOCATION OF RESOURCES TO BRING ABOUT ECONOMIC GROWTH AND PROPERITY TO TEH SOCIETY
3.2. DETERMINE OF ECONOMIC GROWTH IN ISLAMIC PERSPECTIVE
3.2.1. HUMAN RESOURCE
3.2.2. INVESTIBLE RESOURCE
3.2.3. ENTREPRENEURSHIP
3.2.4. TECHNOLOGICAL CHANGES
4. ECONOMIC STRUCTURE
4.1. PRIMARY
4.1.1. 1.AGRICULTURE
4.1.1.1. A INDUSTRIAL COMMODITIES
4.1.1.2. FOOD COMMODITIES
4.1.1.3. PADDY
4.1.1.4. LIVESTOCK
4.1.1.5. FISHERIES
4.1.2. MINIG & QUARRYING
4.1.2.1. TIN
4.1.2.2. PETROLEUM & NATURAL GAS
4.2. SECODARY
4.2.1. MANUFACTURING
4.2.1.1. LIGHT INDUSTRIES
4.2.1.1.1. FOOD & BEVERAGE
4.2.1.2. MEDIUM INDUSTRIES
4.2.1.2.1. WOOD PRODUCTS
4.2.1.3. HEAVY INDUSTRIES
4.2.1.3.1. TRANSPORT
4.2.1.3.2. EQUIPMENT
4.2.2. CONSTRUCTION
4.2.2.1. INFRASTRUCTURE
4.2.2.1.1. INDUSTRIAL AREAS
4.2.2.1.2. RESIDENTIAL AREAS
4.2.2.1.3. TOWN AREAS
4.3. TERTIARY
4.3.1. PUBLIC SERVICES
4.3.1.1. GOVERMENT
4.3.2. PRIVATE SERVICES
4.3.2.1. TRANSPORT,COMMUNICATION
4.3.2.2. FINANCIAL & BANKING, INSURANCE
4.3.2.3. WHOLESALE, RETAIL
4.3.2.4. HOTEL, RESTAURANT
5. STRUCTUAL CHANGES IMPLICANT
5.1. INCREASEDIN GDP & REDUCED POVERTY LEVEL
5.2. REDUCED DEPENCY ON PRIMARY SECTOR
5.3. MIGRATION FROM RURAL TO URBAN AREA
5.4. CHANE IN COUNTRY'S FOREIGN SECTOR
6. ECONOMIC PERSPECTIVE
6.1. CONVENTIONAL
6.1.1. MATERIALISM
6.2. ISLAMIC
6.2.1. ISLAMIC BELIEF
7. ECONOMIC GROWTH
7.1. DEFINITION
7.1.1. ECONOMIC GROWTH IS THE INCREASE IN THE AMOUNT OF FINAL GOODS AND SERVICES PRODUCED BY ECONOMY OVER TIME.
7.1.2. IT IS MEASURED AS THE RATE OF INCREASE IN REAL GROSS DOMESTIC PRODUCT
7.1.3. WHEN REAL GDP INCREASE FROM ONE YEAR TO THE NEXT, ECONOMY AGGREGATE PRODUCTION OF FINAL GOODS AND SERVICES ALSO INCREASE, INCREASED AVERAGE STANDARD OF LIVING AND VISE VERSA
7.2. FACTORS CONTRIBUTING TO ECONOMIC GROWTH
7.2.1. 1.ABUNDANT NATURAL RESOURCE
7.2.1.1. AVAILIBILITY OF VAST NATURAL RESOURCE : PETROLEUM AND NATURAL GAS,TIN.COAL AND COPPER
7.2.1.2. RENEWABLE NATURAL RESOURCE SUCH AS RUBBER,PALM OIL,TIMBER AND PEPPER
7.2.2. 2.NEWLY-INDUSTRIALIZED AND DIVERSE MARKET ECONOMY
7.2.2.1. HIGH-TECHNOLOGY OUTPUT
7.2.2.2. MORE ENTREPENEUR IN SMALL AND MEDIUM- SIZED ENTITIES (SMEs)
7.2.3. 3.YOUNG,EDUCATED& SKILLFUL LABOR FORCE
7.2.3.1. INCREASE LITERACY RATE
7.2.3.2. BETTER EDUCATION
7.2.3.3. SKILLED LABOR IN VARIOUS FIELD ESPECIALLY IN ICT
7.2.4. 4.INFRASTRUCTURE AND EFFICIENT ECONOMIC ORGANIZATION
7.2.4.1. BETTER PUBLIC TRANSPORT & COMMUNICTION SYSTEMS
7.2.4.2. INTERNET ADVANCEMENT
7.2.4.3. STRONG FINANCIAL INSTITUTION SYSTEM
7.2.4.4. INNOVATIVE ISLAMIC FINANCIAL PRODUCTS
7.2.5. 5.INWARD INVESTMENT LEVEL
7.2.5.1. POSITIVE FLOW OF FDI INCREASES EXPORT
7.2.6. 6.LABOR MOBILITY
7.2.6.1. WORKER MOVE FROM UNPRODUCTIVE SECTOR (AGRICULTURE) TO PRODUCTIVE SECTORS (MANUFACTURING & SERVICES)
7.2.7. 7.SAVING LEVEL
7.2.7.1. HIHGER SAVING CREATES MORE INVESTMENT
7.2.8. 8.CORRUPTION
7.2.8.1. HIGHER CORRUPTION LOWER PUBLIC SPENDING AND TAX RATE
7.2.9. 9.POLITICAL AND SOCIAL STABILITY
7.2.9.1. STABLE POLITICS
7.2.9.2. STABLE SOCIAL ENVIROMENT
8. ISLAMIC ECONOMIC DEVELOPMENT
8.1. OBJECTIVE OF ISLAMIC DEVELOPMENT
8.1.1. ACHIEVE FALAH
8.1.1.1. MORE THAN MERELY MATERIAL PROSPERITY
8.1.1.2. ALL ECONOMIC ACTIVITIES MUST BE MORALLY DIRECTED
8.1.1.3. ALL ECONOMIC ACTIVITIES MUST BE HALAL (PERMISSIBLE)
8.1.1.4. MUST AVOID HARAM (NONPERMISSIBLE), RIBA' (INTEREST), GHARAR (UNCERTAINTIES) ECONOMIC ACTIVITIES
8.1.2. EQUAL OPPORTUNITIES
8.1.2.1. EQUAL ACQUISTION OF KNOWLEDGE REGARDLESS OF SEX, GENDER, RELIGION, CASTE,CREED, COLOR OR SOCIAL STATUS
8.1.2.2. DISTIRBUTE WEALTH THROUGH ZAKAT
8.2. ASPECT OF ISLAMIC ECONOMIC DEVELOPMENT
8.2.1. THE DIVINE AND ITS CREATION
8.2.1.1. RELATE TO HUMAN WELFARE, IN LINE WITH THE BASIC OF SHARI'AH (ISLAM JURISPRUDENCE)
8.2.1.2. SOCIAL AND WELFARE INTEREST SHOULD BE FIRST PRIORITISED BEFORE PRIVATE INTEREST
8.2.2. THE MATERIAL AND SPIRITUAL NEED OF HUMAN BEING
8.2.2.1. WELFARE AND EQUITY OF EACH INDIVIDUAL MUST BE CONSIDERED DURING THE DEVELOPMENT PROCESS : EQUAL RIGHTS TO RESOURCE
8.2.2.2. MODERATION IN COMSUMPTION : FOLLOW HIERACHY OF GOODS
8.2.3. HIERARCHY OF GOODS CONSUMPTION IN ISLAM
8.2.3.1. 1. DHARURIYYAH (BASIC GOODS)
8.2.3.2. 2.HAJIYYAH (COMFORT GOODS)
8.2.3.3. 3.KAMALIYYAH/TAHSINIYYAH (LUXURY GOODS)
8.2.4. ISLAMIC ECONOMIC DEVELOPMENT CONCEPT
8.2.4.1. TAUHID
8.2.4.1.1. WORHSHIP ONE GOD
8.2.4.1.2. HABLUMINALLAH
8.2.4.1.3. HABLUMINANNAS
8.2.4.2. RUBUBIYYAH
8.2.4.2.1. ALLAH MOST POWERFUL CREATOR
8.2.4.2.2. ACTIVE FALAH
8.2.4.3. KHALIFAH
8.2.4.3.1. LEADER OF CALIPHATE
8.2.4.3.2. ENSURE PROSPERITY SET BY SHARI'AH
8.2.5. ISLAMIC ECONOMIC DEVELOPMENT DIMENSIONS
8.2.5.1. SPIRITUAL
8.2.5.2. MORAL & ETHICAL
8.2.5.3. TECHNOLOGICAL DIMENSION
8.2.5.4. SOCIAL
8.2.5.5. ENVIROMENTAL & PHYSICAL
8.3. ISLAMIC ECONOMIC DEVELOPMENT
8.3.1. ECONOMIC DELOPMENT
8.3.1.1. =
8.3.1.1.1. ECONOMIC GROWTH
8.3.2. ECONOMIC DEVELOPMENT
8.3.2.1. QUALITATIVE
8.3.2.1.1. SPIRITUAL
8.3.2.1.2. MORAL
8.3.2.1.3. ETHICAL
8.3.3. ECONOMIC GROWTH
8.3.3.1. QUANTITATIVE
8.3.3.1.1. PHYSICAL
8.3.3.1.2. ENVIRONMENTAL
8.3.4. CHANGES
8.3.4.1. SOCIO-ECONOMIC CHANGES
8.3.4.1.1. TECHNOLOGICAL CHANGES
8.4. NEGATIVE IMPACT OF ISLAMIC ECONOMIC DEVELOPMENT
8.4.1. ENVIRONMENTAL DEGRADATION
8.4.1.1. DEFORESTATION
8.4.1.2. LOSS OF BIODIVERSITY
8.4.1.2.1. ECOSYSTEM INSTABILITY
8.4.1.3. POLLUTION
8.4.1.3.1. AIR
8.4.1.3.2. WATER
8.4.1.4. GLOBAL WARNING
8.4.2. MORAL & SOCIAL PROBLEM
8.4.2.1. DECLINING MORAL VALUES
8.4.2.1.1. DECEIT
8.4.2.1.2. CORRUPTION
8.4.2.1.3. -VE TRAITS
8.4.2.2. SOCIAL
8.4.2.2.1. SUICIDE
8.4.2.2.2. BABY DUMPING
8.4.2.2.3. THEFT
8.4.2.2.4. GANGSTERISM
8.4.3. POVERTY & UNEQUAL INCOME DISTRIBUTION
8.4.3.1. HIGHER GAP BETWEEN RICH & POOR PEOPLE