SCHOOL OF BUSINESS AND MANAGEMENT
ECON 458: Economics and Religion
Dr. Roger B. Conover
Fall 2015, Independent Study
3 units
INSTRUCTOR INFORMATION:
Roger B. Conover, Ph.D.
Office Hours: TBA
Office location: Wilden Hall, Room 219
Email: rconover@apu.edu
Phone: Extension 3823
APU MISSION AND PURPOSE STATEMENT:
“Azusa Pacific University is an evangelical Christian community of disciples and scholars
who seek to advance the work of God in the world through academic excellence in liberal
arts and professional programs of higher education that encourage students to develop a
Christian perspective of truth and life.”
SBM MISSION AND PURPOSE STATEMENT:
“School of Business and Management faculty, staff, and students passionately pursue
academic excellence and spiritual enrichment to advance the work of God in business
and society around the world.”
AACSB ASSURANCE OF LEARNING GOALS AND OBJECTIVES:
Competent Business Knowledge
Students will be able to demonstrate knowledge in multiple business disciplines, including
management, finance, marketing, accounting and economics.
Critical Thinking Ability
Students will be able to identify and solve business problems using analytical and critical
thinking skills.
Christian Business Ethics
Students will be able to demonstrate the ability to evaluate business decisions based on a
Christian perspective.
Capable Communication Skills
Students will be able to convey ideas clearly through professional written communication.
Students will be able to express ideas effectively through professional oral presentations.
Collaborative Teamwork Ability
Students will be able to demonstrate the ability to function as an effective business team
member.
Comprehensive Global Awareness
Students will be able to identify cultural, economic and political aspects of business in a
global environment.
COURSE INFORMATION:
University Catalog Course Description:
This course provides students an opportunity to examine the relationship between religion
and economic life in terms of individuals’ actions and the economic system itself. In
particular, students examine the relationship between economic behavior and institutions
and Islam, Confucianism, and Christianity.
Instructor’s Perspective:
Religions provide moral codes and ethical foundations. They are sources for the values
upon which a social order is based. From this base, the society develops the institutions
and structures which they believe will lead to the outcomes which are valued by the
society. Different societies with different religious bases, then, may develop significantly
different economic institutions and systems.
This course provides students an opportunity to examine the relationship between the
field of Economics and religion. We will look at the ways that the methodology of
Economics has been largely separated from religious issues. We will go on to consider
the interaction of religion and economic life, in terms of both the actions of individuals and
the elements of the economic system itself. In particular, we will consider Christian beliefs
and the ways that these can influence and be influenced by economic conditions. For
contrast, we will examine the relationship between economic behavior and institutions
with Islam and, if time permits, with Buddhism.
PREREQUISITES:
ECON 350 Intermediate Macroeconomics
ECON 351 Intermediate Microeconomics
Recommended: ECON 371 Comparative Economics
COURSE CREDIT DESCRIPTION:
Following the APU Credit Hour policy, to meet the identified student learning outcomes of
this course, the expectations are that this 3-unit course, delivered over a 15-week term
will approximate:
3 hours / week classroom or direct faculty instruction
In addition, out-of-class student work will approximate a minimum of 6 hours each week.
STUDENT LEARNING OUTCOMES:
By the end of this course, students should be able to demonstrate mastery of the
following learning outcomes. The classroom assignments that the instructor will use to
assess mastery are identified in the table:
STUDENT LEARNING
OUTCOME
AACSB LEARNING
GOAL
ASSIGNMENTS USED TO
ASSESS
Describe the key philosophical
and theological principles that
inform an understanding of
economics in Christianity, Islam
and other religions.
Christian Business
Ethics, Comprehensive
Global Awareness
Paper Assignments #1, #2, #3,
Final Paper
Critical Thinking Ability,
Paper Assignments #2, Final
Explain the relationship
between religion and the
construction of economic
values, and between economic
values and economic decisions,
both individual and structural.
Competent Business
Knowledge
Paper
Articulate the characteristics of
economic systems based on
Christian and Islamic principles.
Christian Business
Ethics, Comprehensive
Global Awareness
Paper Assignments #1, Final
Paper
Analyze economic problems
from various religious
perspectives and identify
solutions that would be
consistent with the appropriate
theological principles.
Critical Thinking Ability,
Christian Business Ethics
Paper Assignment #1
Demonstrate understanding of
the central methodologies of
mainstream economics and
discuss whether religion
influences methodology.
Critical Thinking Ability,
Christian Business Ethics
Paper Assignment #3
Required Text and Materials:
Henderson, J.W. and Pisciotta, J. (2005). Faithful Economics (FE). (Waco, TX: Baylor
University Press). ISBN-10: 1932792228; ISBN-13: 978-1932792225
Khan, M. F. (1995). Essays in Islamic Economics (EIE). (Markfield, Leicester, UK: The
Islamic Foundation). ISBN-10: 0868372464.
Schlossberg, H., Samuel, V., and Sider, R. (1994). Christianity and Economics in the
Post-Cold War Era (C&E). (Grand Rapids, MI: Wm. B. Eerdmans Publishing Co.).
Additional readings as assigned.
Highly Recommended: A Writer’s Reference, 8th ed., by Hacker & Sommers
(Bedford/St. Martin's, 2015), (ISBN13: 9781457666766, or e-book: 9781457686238), or
similar reference.
Recommended:
Corduan, W. (2012). Neighboring Faiths: A Christian introduction to world religions
(Downers Grove, IL: InterVarsity Press). ISBN-10: 0830839704; ISBN-13: 9780830839704
Sedlacek, T. (2011). Economics of good and evil. (Oxford, UK: Oxford University Press)
ISBN-10: 0199767203; ISBN-13: 978-0199767205
Sivaraksa, Sulak. (2011). The Wisdom of Sustainability: Buddhist Economics for the 21st
Century. (Publisher: Souvenir Press). ISBN-10: 028563898X; ISBN-13: 978-0285638983
Tripp, Charles. (2006). Islam and the moral economy. (Cambridge, UK: Cambridge
University Press). ISBN-10: 0521863775; ISBN-13: 978-0521863773
Copyright Responsibilities: Students and faculty are both authors and users of
copyrighted materials. As a student you must know the rights of both authors and users
with respect to copyrighted works to ensure compliance. It is equally important to be
knowledgeable about legally permitted uses of copyrighted materials. Information about
copyright compliance, fair use and websites for downloading information legally can be
found at: http://apu.libguides.com/content.php?pid=241554&search_terms=copyright
COURSE CALENDAR/SCHEDULE: See the end of the syllabus for schedule.
INFORMATION LITERACY AND USE OF THE LIBRARY:
Information literacy is defined as “a set of abilities requiring individuals to recognize when
information is needed and have the ability to locate, evaluate, and use effectively the
needed information” (American Library Association, 1989). In this course, teaching and
learning processes will employ the following information literacy standards, as endorsed
by the American Association for Higher Education (1999), the Association of College and
Research Libraries (2000), and the Council of Independent Colleges (2004).
The students in this course will:

determine the nature and extent of the information needed.

access needed information effectively and efficiently.

evaluate information and its sources critically and incorporates selected
information into his or her knowledge base and value system.

individually or as a member of a group, use information effectively to accomplish
a specific purpose.

understand many of the economic, legal, and social issues surrounding the use of
information and accesses and uses information ethically and legally.
This course requires students to complete course assignments using resources available
from the University Libraries. Research assistance and subject guides for this course are
available at http://apu.libguides.com/
GRADE DETERMINATION:
Your grade will depend upon your performance on the papers and on your participation in
the in-class discussions. Participation that contributes to the discussion gains points; that
which detracts from the discussion loses points. No extra credit is available except as
may be occasionally announced in class. Students who are concerned about their grades
should see the instructor as early as possible during the semester to work out possible
strategies for improving your performance. Grades will not be changed after the course is
over except in the case of clerical error. Grade appeals procedures may be found in the
Student Handbook.
In general, the following guidelines will apply to this course. Your specific grade will be
determined by the point total that you accumulate throughout the course.
Grading Criteria for Assignments and Final Grade:
GRADE
CRITERIA
Outstanding knowledge regarding details, assumptions and implications of economic
and theological principles and analysis; demonstrates superior thinking with information
A
relevant to application, critique, relationship to other information.
More than adequate knowledge regarding technical terms, distinctions, ability to begin
using information; demonstrates ability to think clearly about the information and its
B
C
D
F
relationship to other information.
Basic knowledge needed to function and carry on learning regarding major principles,
central terms, major figures; awareness of the field.
Serious gaps in knowledge, confusion of concepts and categories, inability to recall
basic information.
Absence of knowledge, incapable of carrying on a conversation about the subject,
misunderstands most concepts, confuses all categories.
Specific Grading Policy: There are 600 points possible in the course:
Papers (3 x 100)
300
Participation in class discussions
150
Final Paper
150
600
Paper assignments:
All papers are due at the beginning of the class period indicated. The first 3 papers will be in the
1500 – 2000 word range. The final paper will be longer. The papers must be typed, be properly
referenced, and conform to style. APA is preferred, but MLA is acceptable. See Hacker and
Sommers (2015). Any questions about appropriate and necessary referencing or style should be
discussed with the Writing Center. Prior to submission, you may not discuss your papers with
anyone in any way, except with the course professor or the Writing Center. You will turn a hard
copy in by the deadline. You will present a summary of your paper to the class the day the paper
is due.
Paper #1, 1500 – 2000 words; due Wednesday, February 4
Based on the assigned readings regarding Catholic Social Thought (and associated
readings): From a CST perspective, discuss the economic issues that should be examined in
the case of a business trying to decide whether to relocate production facilities to a developing
country.
Paper #2, 1500 – 2000 words; due Wednesday, February 25
In his book, Economic justice in a flat world: Christian perspectives on globalization, Steve
Rundle of Biola University presents the following definition:
“For the purposes of this volume, economic justice is understood to mean the elimination of
poverty, broadly defined.” [That is, poverty is understood to be a condition marked by “poor
health, illiteracy, lack of access to credit, and political disenfranchisement,” etc., not only a
lack of income.]
Based on the assigned readings Oxford Declaration and associated readings, (especially of
Beisner and Mott), evaluate Rundle’s definition of economic justice given here.
Paper #3, 1500 – 2000 words; due Wednesday, March 25
In Chapter 1 of Economics and Religion: Are they Distinct? Anthony Waterman asserts:
“A defensible and useful distinction is possible – and indeed necessary – between
analyzing and explaining social phenomena with the tools of political economy, and
evaluating those phenomena in the light of religious belief.”
Based on your readings from Iannaconi, the Symposium, and C.K. Wilber, discuss the extent
to which economic analysis and explanation can be and should be separate from evaluation,
and the extent to which that analysis and explanation can be and should be separate from
“religion” and values considerations.
Final Paper, 2500 – 3000 words.
This paper is due at the final exam meeting, where you must be prepared to fully discuss your
paper. Your answers to the following should include full explanations, of course. As with all
the papers, you must adhere to the APU Academic Integrity Policy, and you may not discuss
this assignment with anyone except the course instructor and the Writing Center. You may email me or stop by my office if you have questions.
Research the economic structure of either (a) Saudi Arabia, or (b) Iran. Discuss in clear
detail the ways in which the country has attempted to implement an “Islamic Economics.”
This should include attention to the forms of business institutions; markets and market
structures; rules regarding transactions and methods of business dispute resolution;
banking, finance, and insurance; fiscal and monetary policy and public finance; etc., etc.
In what ways does the country deviate from the characterizations of “Islamic Economics”
discussed in your readings?
Finally, discuss whether you believe that the full establishment of “Islamic Economics” is
possible, and why.
All papers done for this course must conform to the ideals of academic integrity. To this end, you
must certify that they do. Every paper MUST include the following statement at the end of the
paper immediately before the References or Bibliography:
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that
any assistance I received in its preparation is fully acknowledged and disclosed in the
paper. I have properly cited all sources from which I used data, ideas or words, either
quoted directly or paraphrased. I also certify that this paper was written by me specifically
for this course. My name on the title page of this paper serves as my verification of the
above statements.
COURSE POLICIES:
Student Responsibilities:
Students are expected to come to each class fully prepared. This includes a full and complete
reading of the material assigned for the day. The professor will pose questions each class
period for discussion, and will evaluate each student’s participation in the discussion on the
basis of how well the answers given reflect knowledge of the reading material and how well
the student is able to critically evaluate and apply that material. Additionally, specific questions
may be assigned from time to time that will be discussed in class. By definition, failure to
attend class means that the student is not participating for the class.
Attendance Policy:
Students are expected to attend every class, and attendance will be taken. Students who
arrive after class has begun will be counted as absent. Points will be deducted from a
student’s final score according to the following schedule:
0 to 2 = 0;
3 or more = 20 points each.
Students who are late or absent because of an approved university event must inform the
instructor prior to such an event. While students are still responsible for assignments due and
material presented on such days, this absence will not be counted against their attendance
total.
Exceptions:
With the instructor’s approval of a valid, documented excuse, (e.g. sickness with signed
medical excuse, etc.) alternative arrangements can be made. However, the range of
acceptable excuses is very limited. In particular, computer hardware or software failures and
flight departure times are not valid excuses. Back up your work regularly, and do not schedule
your flight out of town for a date before the final exam period. Students who will be absent
because of an approved university event must inform the instructor prior to such an event.
Students are expected to contact the course professor as soon as possible to obtain approval
and to discuss with class participants the material covered.
Academic Integrity:
The mission of Azusa Pacific University includes cultivating in each student not only the
academic skills that are required for a university degree, but also the characteristics of
academic integrity that are integral to a sound Christian education. It is therefore part of the
mission of the university to nurture in each student a sense of moral responsibility consistent
with the biblical teachings of honesty and accountability. Furthermore, a breach of academic
integrity is viewed not merely as a private matter between the student and an instructor but
rather as an act which is fundamentally inconsistent with the purpose and mission of the
entire university. A complete copy of the Academic Integrity Policy is available in the Office of
Student Life, the Office of the Vice Provost for Undergraduate Programs, and online.
Any work throughout the course that appears to have been copied from another source
violates the standard of academic integrity. You may not give or receive assistance on any
graded component of the course except from the course professor or the Writing Center. If
any of the contents of any paper are not properly cited or appear to be copied, or other
cheating occurs, all students involved will receive zero points for that assignment. In any case
of a suspected violation of the standards of academic integrity, the incident will be reported to
the Vice Provost’s office and further steps may be taken in accordance with the Academic
Integrity Policy of the University.
University or Department Policies
All university and departmental policies affecting student work, appeals, and grievances, as
outlined in the Undergraduate Catalog and/or Department Handbook will apply, unless
otherwise indicated in this syllabus.
Support Services: Please make every effort to contact me if you have questions or are
having any difficulty with the material in this course.
Students in this course who have a disability that might prevent them from fully demonstrating
their abilities should contact an advisor in the Learning Enrichment Center (ext. 3849) as soon
as possible to initiate disability verification and discuss accommodations that may be
necessary to ensure full participation in the successful completion of course requirements.
SCHEDULE OF CLASS MEETINGS
ECON 458: Economics and Religion W F 12:50 pm
DATE
TOPIC
NOTES
1/14
Introduction to Economics and Religion
Key Christian theological perspectives and economics
Marsden (FE Ch 1), Dean (FE Ch 2)
Theological Themes – Gordon (Brennan & Waterman, Ch 2)
21
Catholic:
Catholic Social Thought: A brief overview;
CST Reading list from USD
Major Themes in CST;
More themes in CST.
CST Foundational Documents
RERUM NOVARUM
28
2/4
11
POPULORUM PROGRESSIO
CARITAS IN VERITATE
Yuengert, Andrew M. "The Common Good For Economists." Faith &
Economics, n. 38 (Fall 2001) 1-9.
Paper #1 due Wednesday, 2/4
Evangelical:
C&E: Intro, The Oxford Declaration on Christian Faith and Economics
C&E: Beisner, Mott
C&E: Hay, Skillen
C&E: Volf, Hill
Blank (FE Ch 3), Novak (FE Ch 5)
2 /13
President’s Day (no class)
18
Orthodox:
Orthodox Social Thought- overview
Comsa, Petre, Munteanu, Costea (2009) ‘Economics and religion – a
personalist perspective’, The Journal of Philosophical Economics, II:2, 533
25
Common Day of Learning (Tuesday 2/24)
Paper #2 due Wednesday, 2/25
Christian Economic Ethics:
Gushee (FE Ch 7)
Sauer, J. B. "Christian Faith, Economy, and Economics: What Do Christian
Ethics Contribute to Understanding Economies?" 42 (Fall 2003) 17-25.
3/3
Economics of Religion
Iannaccone, Laurence E. (1998). Introduction to the Economics of Religion.
Journal of Economic Literature Vol. 36: pp1465-1496.
Laurence R. Iannaccone, Derek Neal, Peter Boettke, and Deirdre
McCloskey. (2005). The Economics of Religion: A Symposium
March 7 – 15
SPRING VACATION!
18
Implications of Christian theology for economic theory:
Wilber, C. K. “Can a Christian Be an Economist?” 47/48 (Spring/Fall 2006)
59-86
Waterman, A. M. C. “Is ‘Political Economy’ Really a Christian Heresy?” 51
(Spring 2008) 31-56 (Scroll down to page 31.)
25
Paper #3 due Wednesday, 3/25
Basic principles of Islam
Corduan; Overview of Islam
1
Is there an “Islamic” economics?
On the Nature and Scope of the Islamization Process
Faith integration and Islamic Economics
http://www.islam101.com/economy/economicsPrinciples.htm
Choudhury, M. A. (1983). Principles of Islamic Economics. Middle Eastern
Studies, V. 19, N. 1 (Jan., 1983), pp. 93-103.
Islamic Banking, Economics, and Finance resources
Islamic theological principles for research
4/3
Good Friday (no class)
8
Islamic economic theory: An example
EIE Ch 1, Ch 2
15
Islamic Banking: EIE Ch 4, 5, 6
22
Factors of Production and Factor Markets: EIE Ch 7
Finals Week: Paper presentations. Check Schedule of Classes for Time of Final.