Ma`rifat Eqtesadi

Explaining the philosophical foundations and methodology of Islamic economics is of great importance for theorizing in Islamic economics. Using an analytical method, the current paper explore philosophical foundations and methodology of Islamic Economics. According the findings of the paper, Islamic economics epistemologically use tradition as a new source of knowledge and looks for a systematic body of normative, descriptive and prescriptive clauses. Ontologically, Islamic economics rests on Tohidi ontology, individual Collectivity, Bounded Fazi rationality and spiritual order. Axiologically, Islamic economics reject the claim that value is equal to utility and adopts a consequentialist perfectionist approach in normative ethics. Methodologically, Islamic economics accept a mix of methods such as the discovery method, deduction and induction. To test epistemic propositions in Islamic economics, a combination of formal testing to prevent errors in reasoning and content testing to check the accuracy of citation to Sharia, compatibility, conformity with external reality, and practical necessity is used. The role of philosophical and methodology of Islamic economics in building theories and models is both direct and indirect. The direct effect takes the form of producing some foundational clauses used in Islamic economics theories and models besides other clauses. The indirect effect of the philosophical foundations and methodology of Islamic economics appears in their impact on factors such as the definition of Islamic economics, specifying its subject, aims, problems and methods of research.