Summary The article refers to both Islamic and conventional economics. Conventional economics has been studied for a long time, unlike Islamic economics. As much as both forms of economics have very similar concepts, they also differ greatly. Some of the concepts that Chapra (2000) discusses in the article include vision, mechanism, worldview, and the method. The vision of Islamic economics is to study the allocation of resources in many of the Islamic based countries. There are a few countries that still govern using Sharia Law. Some of these countries are, however, not very strict on the Sharia Law given that they would like to fit in the other non-Muslim circles. This creates a difficulty in realizing the vision of the study. The mechanism, on the other hand, is defined as how the allocation of materials is done. There are three main factors to consider when discussing types of mechanisms. These are filtering motivation, and socio-economic restructuring. The role of the worldview is to give an individual their political perspective among other perspectives. For example, if Muslims believe that it is wrong to steal, they will also believe that cutting the hand of a thief so that he cannot steal again is acceptable. Key Learning Points When it comes to the history of Islamic economics, Chapra (2000) argues that there are very many scholars who have aided in expanding the subject. He mentions Shah Waliyullah and Abi Yusuf, among others, as some of the scholars who have contributed greatly to the study. According to these scholars, Islamic economics is very different from some of the conventional economics that are present in the world today.The key learning points are the vision, the relevance of Islamic economics, history, and the future of Islamic economics. The vision is what Islamic economics wants to achieve. Even though this presents a good challenge to all scholars, it is very difficult to study the exact impacts of Islamic economics because there are very few countries that use Islamic economics at the moment. The relevance of Islamic economics has also been debated over the years. Several scholars have explained that there is no relevance in studying Islamic economics since it is already categorized under the conventional economics of today’s world. Last, but not least, the learning point is the future prospects of the study. Many scholars believe that Islamic economics will not survive in the future. According to Chapra, Islamic economics has focused on explaining itself and how its concepts can change the current world economy for the better. It has not explained how different it is from the other known economies. The concepts involved in Islamic economics also entail the use of the Islamic religion. Most of the world’s population is not Muslim. This makes the future of Islamic economics very dim. Relevant Statements to the Session The relevant statements in the session include: Chapra (2000) mentions that “If well-being were to be defined in a purely material and hedonist sense, then it would be perfectly rational for economics to give prominence to the serving of self-interest and the maximization of wealth, bodily pleasures, and sensual satisfactions” (p. 23). “If the market, the family, the society, and the state all have a role to play in human well-being then the question is how to make them play their roles in a manner that complements and does not hinder the effective performance of their roles by others” (Chapra, 2000, p. 24). “If the mechanisms chosen by economics are not in conformity with the desired concept