THE INSTITUTE
OF
COMPARATIVE
POLITICAL ECONOMY (ICPE)
(An academic institute of higher learning and research within the Islamic University Chittagong, Bangladesh and associated by an MOU with the University College of Cape Breton, Sydney, Nova Scotia, Canada)
SUMMARY OF THE ICPE PROGRAM
The Institute of Comparative Political Economy (ICPE) is a world pioneer in initiating and providing advanced pedagogy and research in the area of comparative political economy with the view of offering M.Sc. M.Phil and Ph.D. Degrees, advanced training to practitioners and research and training capacities to teachers in this field. ICPE also organizes occasional seminars and conferences in the field of comparative political economy and world-system. ICPE operates on a Summer Module as explained below.
Students of high caliber with good preparation in the English language and college-level mathematics are considered for admission to a small number of select openings. The field of comparative political economy is an interdisciplinary one. Admission to the ICPE Program is open to qualified and motivated students from all disciplines.
BENEFITS OF ICPE
A thorough training will prepare students for higher degrees in the best of universities. Students graduating from the program will be in demand in the private and public sectors as erudite policy-makers. They will be in demand in international development organizations as knowledgeable human resources, e.g. in Islamic banks, Islamic Development Bank, Organization of Islamic Conference and transnational companies. Graduates will play a significant role in national development planning and policy-making and in microenterprise development with non-governmental organizations.
WHAT IS COMPARATIVE POLITICAL
ECONOMY?
The field of comparative political economy covers the study of interaction, integration and creative evolution of forces that shape the human society and institutions in concert with economy and markets in a global context. Such a study being conceptual, analytical and applied invokes deep epistemological investigation. The comparative nature of the study emanates from the specific methodology of an interactive, integrative and evolutionary worldview derived from Qur’an and applied to Islamic and other world-systems with a critical examination. The Islamic approach to the study of world-systems is emphasized because of its unique epistemological and ontological meaning given to unity of knowledge, which essentially grounds the meaning of socio-scientific interaction, integration and creative evolution (IIE-model) as an extensively continuous relational field of human inquiry. Some of the issues examined in the light of the IIE-methodology of comparative political economy are as follows: Globalization and its various topics are studied using the analytic that emanate from the epistemological methodology of unity of knowledge and its application to world-systems. Economic theory, human ecology, international economic integration, money and the real economy, capital markets, socioeconomic development, capital markets and microenterprise in national development planning and international development financing programs are a few of the areas of political economy examined from the viewpoint of unity of knowledge. There is ample scope to pursue special topics in the field of comparative political economy and world system studies.
Comparative political economy is thus an emerging field of intellectual inquiry comprehending pressing issues of global futures using the epistemology of complex analytical methodology. It is a discipline that is presently becoming popular at leading universities worldwide.
GOALS AND OBJECTIVES OF ICPE
ICPE offers advanced studies in comparative political economy focusing specially on the worldview of unity of knowledge as the epistemological and ontological foundations emanating from the precept of Oneness of God, termed in the Qur’an as Tawhid. Advanced teaching and research will be undertaken to train graduate and post-graduate students in this area.
The following Graduate Degrees are offered:
M.Sc. (Comparative Political Economy) with one Summer Module plus thesis;
M.Sc. (Comparative Political Economy) with two Summer Modules plus thesis;
M.Phil. (Comparative Political Economy) a one-year research degree beyond the M.Sc. Degree;
Ph.D. (Comparative Political Economy) a minimum of three years beyond the M.Sc. Degree or two-years beyond M.Phil;
Other offerings and activities of ICPE are:
Short-term training of practitioners and teachers in specific themes within this field;
Organizing occasional academic seminars, workshops and conferences.
ICPE publishes its scholarly refereed journal, Humanomics, as its academic outlet.
All Degrees need a combination of course work, guided research and theses.
Course instructions within the Summer Module are conducted by a combination of lectures, video-shows, group sessions, seminars and paper writing.
A total of sixteen 3-credits courses are required for a two-years M.Sc. Degree. A total of eight 3-credits courses are required for a one-year M.Sc. Degree and post-graduate Degrees of ICPE. The course requirement is followed by examination and this by supervised research leading to thesis under expert supervision. See details on courses below. ICPE maintains a good research library and uses the computer laboratory of IUC along with good linkages with international sources.
SUMMER MODULE: LECTURE HOURS AND DURATION
May-September each year: 16 weeks with eight 3-credit course load.
Each 3-credits course is of one week duration:
9:00 A.M. – 12:00 & 2:00 – 5:00 PM five days a week
[= 6hrsx5days= 30 hrs of lectures for each course over one week]
Thus 240 credit hours for one-year M.Sc./480 credit hours for two-year M.Sc.
PLUS 12 credits allocated to independent research leading to M.Sc. thesis
Student-professor consultation: Thursday afternoon or with appointment.
Following successful completion of course work thesis topics are assigned. M.Sc students complete their supervised research in four months.
M.Phil. students take a full year beyond the M.Sc Level.
Ph.D. students take a minimum of two years beyond the M.Phil Level or three years beyond the M.Sc. Level.
The prescribed lengths of time in completing the Degrees can be waived under special circumstances.
GOVERNING STRUCTURE OF ICPE
ICPE being an institute of advanced learning and research within the Islamic University Chittagong is governed by all the academic rules and regulations of the latter. The finances of ICPE are raised and disbursed on the basis of tuition revenues by IUC, as mentioned below. IUC provides the office space and facility for delivery of the ICPE Program.
Director: Professor Dr Masudul Alam Choudhury, School of Business, University College of Cape Breton, Sydney, N.S.
Assistant Director: elected from the Islamic University Chittagong
Secretary and Librarian
ACADEMIC FACULTY
Professor Dr. Masudul Alam Choudhury, School of Business, University College of Cape
Breton, Sydney, N.S.
Professor Dr. Muinuddin Ahmad Khan, Department of Islamic Studies and Political Science, University of Chittagong.
Professor Dr. Anisuzzaman, Department of Philosophy, University of Dhaka.
Dr. Anwar Joarder, Department of Mathematics, King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia.
Mr. Abdul Awwal Sarkar, Director of Research, Bangladesh Bank, Dhaka.
Visiting Professors:
Professor Dr. Kabir Hassan, Department of Finance & Economics, University of New Orleans, U.S.A.
Professor Dr. Ataul Huq, Faculty of Economics, International Islamic University Malaysia.
FINANCIAL ASPECT
ICPE is a purely non-profit educational institution of advanced learning and research. All direct financial matters remain under the jurisdiction of the Islamic University Chittagong, except those that are raised by ICPE through endowments and grants.
Annual Tuition Revenue (est. 5 students) = Taka 3,50,000
Annual Disbursements:
Salaries: @ Tk.15,000 per 3-credit course:
Tk.15,000x16 3-credit courses = Tk. 2,40,000
Tk50,000 for one visiting professor per two 3-credits courses
Tk 50,000 in thesis supervision @ Tk. 10,000 per thesis load (est. 5 students).
ICPE will adjudicate for grants and endowments from external sources. All funds obtained from external grants and endowments remain within the direct control of a Board of Trustees appointed by ICPE.
COURSES
Selection of required courses must be done in consultation with the advisor for the total CPE program.
CPE 1000: Analytical Methods I
This is a preparatory course revising the elements of Algebra, Calculus and Geometry at the college level. Areas to cover are differentiation and integration methods, matrix algebra and determinants. The intent here is to prepare the student in the analytical tools required for the study of Tawhidi interactive, integrative and evolutionary worldview to be studied in depth in the total program. Instructor: T.B.A.
CPE 1100: Comparative Epistemology
in Socio-Scientific Thought I, 3-credits
Tawhid (Oneness of Allah) as the epistemological foundation of unity of knowledge in Islamic world-systems is rigorously studied. The role of Tawhidi episteme in the construction of Islamic socio-scientific thought, the study of Qur’an and Sunnah in the light of Tawhidi epistemology for the socio-scientific order is be developed to open the groundwork for a paradigmatic study of Islamic and comparative political economy.
Topics in Comparative Islamic epistemology cover the socio-scientific thought of Imam Ghazzali, Imam Shatibi, Ibn Taimiyyah, Shah Waliullah, Fakhruddin Razi, Ibn Al-Arabi, Ibn Rushd, Al-Farabi, Ibn Khaldun, Malik Ben Nabi and selected other ones. Critical examination of these thoughts in the framework of Tawhidi episteme for a functional socio-scientific paradigm are covered. Instructor: Professor Dr. Masudul Alam Choudhury
CPE 1200: Comparative Political
Economy I, 3-credits
Tawhidi episteme are further conceptualized and applied to the theory and problems of political economy as a knowledge-centered interactive, integrative and evolutionary (IIE-model) world-system premised on unity of knowledge. The formal nature of the IIE-knowledge-centered model are developed. The principle of universal complementarity emanating from the IIE-model as the anti-thesis of neoclassical marginal substitution principle of resource allocation are derived. Formalism follows in these two contrasting areas of methodology – universal complementarity and marginal substitution. The principles and instruments of Islamic political economy are studied within a general ethico-economic equilibrium framework. The formal nature of Islamic socio-scientific consultative medium called the Shuratic Process is formally studied using the IIE-model of Tawhidi episteme.
The application
of IIE-model to related concepts, theory and application are examined. Examples
here are of ethics and markets, human ecology, resources, resource allocation
and mobilization, preferences, exchange and prices, consumption, production and
distribution in an ethico-economic general equilibrium system, wealth, entitlement
and empowerment, ownership, development and distribution, theory of justice,
labour market and social contract. Instructor: Professor Dr. Masudul
Alam Choudhury
CPE 1300: Application of
Comparative Political Economy I, 3-credits
Specific topics are selected to bring out the applied nature of Tawhidi worldview as formalized by the IIE-model. This first of two courses in applications devote to computer-assisted formalism of the IIE-model. Simulation and general equilibrium models of econometrics are introduced. Game theoretic methodology and input-output models both in fixed and dynamic coefficients are introduced. Animation of knowledge-centered IIE-model using Power-Point are introduced. Mathematical expertise in algebra, calculus and topology are further developed to enable the mathematical study of knowledge-induced general equilibrium systems. The mathematics of cybernetics and systems introduced to study the nature of intellectual property rights in global information technology and its scope. The concept and simulation of human well-being criterion as opposed to the neoclassical concepts of economic growth, economic efficiency, economic stability and social welfare are studied in the light of economic stabilization, human development, justice, distribution, property rights and social contracts. Instructor: Professor Dr. Masudul Alam Choudhury
CPE 1400: Capitalist Globalization
Process, 3-credits
The nature of
globalization process as a study in mercantilism, transnational capital movements,
consumer and producer cartels and convergence of technology, institutions,
policies and programs of international development organizations are studied.
The aims, goals, institutional structure, policies, programs and philosophy of
the international development finance organizations are studied. These policies
and instruments are critically examined in terms of self-reliant development
nationally and in the Muslim World. Among the development organizations to be
studied are the International Monetary Fund, the World Bank, World Trade
Organization, United Nations. The neoclassical theory of capital flows and
economic growth are examined. Its implications for the international division
of labour and industry are studied. The market-polity interrelationships among
money, real economy, interest rates, employment, economic development and human
well-being are studied within a general ethico-economic equilibrium context.
The nature of international finance (private and official) and trade flows
(free-trade agreements) are examined within the capitalist paradigm (e.g.
NAFTA, APEC, EU). A critique of macroeconomic and microeconomic perspectives of
globalization are examined. Data are gathered from IMF, World Bank and WTO
sources. Other critical reports are also be used. Instructor: Professor Dr.
Masudul Alam Choudhury
CPE 2000: Analytical Methods II
This course prepares the student beyond the first analytical course to obtain a greater depth in the methodology of the interactive, integrative and evolutionary model (IIE-model) to be studied in depth later on in the total program. Topics to be covered are elements of set theory, topology, theory of functions of real and complex variables, games and linear programming. Model building of the IIE-type is undertaken. Other topics to be included are simulation and optimization methods and complexity analysis.
Instructor: T.B.A.
CPE 2100: Comparative Epistemology
in Socio-Scientific Thought II, 3-credits
Comparative epistemology in occidental thought is covered. The classical works of Immanuel Kant, David Hume, Rene Descartes, Hegel, Marx, John Maynard Keynes, Leon Walras, Alfred North Whitehead and Bertrand Russell, Karl Popper, Thomas Kuhn and the Vienna Circle, Nagel and other ones are studied. The occidental paradigm of unity of knowledge in the sciences and the project of unification in the sciences is critically examined in the light of Tawhidi episteme. Systems and cybernetic methodological approaches to the study of unification of knowledge are formally studied. Implications of complex and chaos methodology in world-systems are covered.
Instructor: T.B.A.
CPE 2200: Comparative Political
Economy II, 3-credits
Political economy according to the classical and Marxist schools is examined. This includes a critical study of the classical works, such as, The Theory of Moral Sentiments, Wealth of Nations and Grundrisse. These are critically examined in the light of unity of knowledge for the construction of the concept of worldview. The political economy of Austrian evolutionary economic school is examined. Examples of works here are those by Schumpeter, Hayek, Ludwig von Mises, Boulding and Gunnar Myrdal, all examined in the light of evolutionary economics. Recent ideas on the Austrian school given by Kirzner, that further augments the evolutionary economic hypothesis are critically studied. Interdependence and hegemony, the idea of unequal development and institutional development in capitalist world-system are critically examined. Analytical answers are sought to the question -- Why communism and socialism could not survive as world-systems in their dialectical concepts of interactions within complex forms?
Application of political economy in occidental paradigm follows in areas such as, the ideas of globalization, technological and civilizational convergence, Eurocentricity, neoclassical ideas of resource allocation, pricing, preferences, market-ecology and institutional relations, competition versus cooperation, labour markets and social contracts. The analytical problems of microeconomic resource allocation and macroeconomic aggregation with respect to growth, efficiency, prices and preferences are formally examined. Instructor: Professor Dr. Masudul Alam Choudhury
CPE 2300:
Application of Comparative Political Economy II, 3-credits
Specific topics
for an applied understanding of the knowledge-centered IIE-model are
undertaken. Examples of areas to be covered are, microenterprise development in
relation to national development plan and ecological considerations of
community development, integrative development planning in a general
equilibrium context of inter-sectoral linkages, institutional development
planning as exemplified by the medium of Shuratic Process in Islamic political
economy. Other areas to be covered are, the treatment of human resources, human
resource development, human development and social well-being within the
knowledge-centered IIE-model. Other topics are the study of the nature of
markets and technology in relation to the concept of segmented markets. In the
latter case, the example of socio-economic integration of Muslim sub-nations in
the industrialized world is examined and evaluated. The interactive,
integrative and evolutionary character of the principles and instruments of
Islamic political economy are studied and applied to determine the potential of
Islamic banks, development finance, market and institutional developments in
realizing Islamic socio-economic integration. A pilot enactment of Shuratic
Process in Islamic political economy is staged in classroom situation. Instructor:
Professor Dr. Masudul Alam Choudhury
CPE 2400: A
Critique of Globalization and the Alternative, 3-credits
The alternative worldview of ethico-economic transformation in the knowledge-centered IIE-model is conceptualized. In this the framework of Islamic economic integration as an application of the Shuratic Process, the topic of objective globalization is studied. An input-output analysis of trade and development issues is invoked. Connected to this general equilibrium model in the IIE-framework are studied the issues of endogenous technology, money, capital, real economic linkages, intersectoral linkages, institutions and their decision-making with the instruments of Islamic political economy. Labour market and developmental implications so derived from the IIE-treatment are studied. The empirical picture of evolution to an Islamic common market is explored in terms of data and information pertaining to members of the Organization of Islamic Conference. The institutional framework, goals and policy framework of the OIC and IDB are examined in the light of the IIE-framework of Shuratic Process in decision-making. Instructor: Professor Dr. Masudul Alam Choudhury
CPE 2500: Comparative Political
Economy of Socioeconomic Development, 3-credits
The application of the theory and methodology of the IIE-model vis a vis conventional approaches to socioeconomic development is studied. Special topics addressed are sustainability, distributive equity, economic growth, regimes of path-dependent development and human development along with its disaggregate indices. Institutional questions are investigated in the light of the IIE-treatment of the development paradigm using the principle of complementarity applied to sustainable development and human ecological issues within a global context. The topic of complementary relations between growth and justice is studied within the context of appropriate technology in the IIE-model. Factor utilization, resource allocation and social well-being simulation versus optimization issues are studied in the light of microenterpreneurial approach to grassroots development. A general ethico-economic interrelationship in path-dependent approach to socioeconomic development is addressed.
Instructor: T.B.A.
CPE 2600: Application of
Comparative Political Economy of Development, 3-credits
Specific country development plans within the Muslim World are examined to study the comparative political economy of socioeconomic development a la IIE-methodology in light of the Tawhidi epistemology. Special attention is given to intersectoral and interlinked development in the IIE-framework applied to Bangladesh Development Plan. Input-Output methodology is invoked to study various analytical perspectives of socioeconomic development. The World Bank and UNDP approaches to socioeconomic development are examined. Special Reports on international development are analyzed. Instructor: T.B.A.
CPE 2700: Comparative
Political Economy of Money, Finance and the Real Economy I, 3-credits
The Political Economy of Socioeconomic Development in the conventional perspectives is studied. Topics include the neoclassical, balanced and unbalanced development approaches to socioeconomic development paradigms. The issues of population, resource generation, control and allocation domestically and internationally are studied. Institutional development of governance and the political economy of international development organizations are examined against the paradigms of Eurocentricism. The development and application of technology, the transmission of international trade and macroeconomic policies as well as microeconomic approaches to grassroots are examined in the light of the neoclassical and aggregate models of development. The global outlook of socioeconomic development with respect to allocation of global resources and their governance by transnational companies and development finance organizations is studied. Instructor: T.B.A.
CPE 2800: Comparative Political
Economy of Money, Finance and the Real Economy II, 3-credits
The focus is on the application of the IIE-model and Tawhidi methodology to the concept of money in Islam in contrast to the concept of conventional money. Monetary policies and financial institutions and instruments pertaining to these contrasting concepts of money are studied. The meaning of 100 per cent reserve requirement for linking money to the real economy, output, productivity, growth, stabilization and factor endowment is examined. Both the closed and open economy cases are examined. The implications of shari’ah respecting participatory institutions underlying mudarabah, musharakah and related development financing instruments are investigated. Zakat is considered as an endogenous variable in the money-real economy equation. The relationship of endogenous money to socioeconomic development is studied. The use of endogenous 100 per cent reserve requirement, exchange rate and profitability indicators in stabilization, distribution and economic development and growth is examined within an ummatic concept. Instructor: T.B.A.
CPE 2900: Special Topics I: Theory,
3-credits
A range of topics from the theory of political economy and world-system studies in view of Islamic and conventional areas applying epistemology to study problems of political economy are taken up. Topics vary according the availability of teachers and the interest of students. The need for student training in thesis areas is kept in focus.
Supervisor: any faculty member
of ICPE.
CPE 3000: Special Topics II:
Application, 3-credits
A range of
topics from the application of the theory of political economy and world-system
studies in view of Islamic and conventional areas applied to the political
economy of development and financial systems are taken up. Topics vary
according to the availability of teachers and the interest of students. The
need for student training in thesis areas is kept in focus. Supervisor: any
faculty member of ICPE.
CPE 2900 and CPE 300 particularly help the students to formulate their
thesis research topics.
Thesis requirement comprise 12 credits. M.Sc. Thesis is completed usually
within four months of the completion of course requirements. M.Phil Thesis
requires a minimum of one year beyond the M.Sc. Degree. Ph.D. Thesis requires a
minimum of three years beyond the M.Sc. Level or two years beyond the M.Phil.
Level.
For training modules a more informal and selective course outline is developed according to needs and topics being offered in the area if Comparative Political Economy. These follow the Summer Module Structure.
Concept Chart: The Structure of the Institute of
Comparative Political Economy
Feedback
Occasional International Conferences
+
Summer Module: May-September Lectures & Examinations
followed by supervised thesis
+
Arrows denote the direction of circular and closed
feedback between ICPE and other outlets. All Degrees and Certificates will
be offered by ICPE within the jurisdiction of the Islamic University
Chittagong. The transcripts will mention the MOU with the University
College of Cape Breton.
