TOPIC 1 MALAYSIAN ECONOMY

TOPIC 1 : MALAYSIAN ECONOMY- 1. Economic Perspectives- Conventional- Materialism- Islamic- Islamic Beliefs- 4. Islamic EconomicGrowth- Islamic Economic Development- Objectives- Achieve Falah- Equal Opportunities- Aspect in Islamic- The divine & its creation- The material & spiritual need ofhuman being- Concept of economicdevelopment- Tauhid- Rububiyyah- Khalifah- Dimensions of Islamic Economicdevelopment- Spiritual- Moral & ethical- Technological dimension- Social- Environmental & physical- Negative Impacts of IslamicEconomic Development- Environmental degradation- Moral & social problems- Poverty & unequal incomedistribution- 5. MalaysianEconomic Structure- Economic Structures- Primary sectors- Secondary sectors- Tertiary sectors- Factors ContributingtoMalaysian's Structure Changes- Changes in economic policy &structural changes- Unstable agricultural prices initernational market- Industrial sector ability to absorbmanpower & solve unemployment- Availability of resources forindustrial sector- Structural Changes Implications- Increased in GDP & reducedpoverty level- Reduced dependency on primarysector- Migration from rural to urban area- Changes in country's foreign sector- 2. Economic Growth- Factors Contributing- Abundant natural resources- Newly-industrialized & diverse marketeconomy- Young, educated & skillful labor force- Infrastructure & efficient economyorganization- Inward investment level- Labor mobility- Saving levels- Corruption levels- Political & social stability- 3. Economic Development- Positive Charges- Socio-economic changes- Human capital development- Infrastructure development- Regional competitiveness- Environment sustainability- Poverty reduction- Equitable income distribution- Enhanced healthcare- Improved safety- Literacy development- Social amenities- Technological changes- Technological development- Innovation- Research- Other initiatives- Economic Development Goals- Improve in per capita income- Quality of life improvement- Poverty reduction- Income distribution equality- Reduced imbalanced in regionsdevelopment- Reduced imbalanced betweentraditional & modern sectors- Improved basic needs- Food- Clothing- Shelter- Solved environmental problems- Indicator of EconomicDevelopment- Rise in standard of living- Improved social & economiccondition- Improved employment opportunity- Rise in productivity- Acquisition of knowledge- Improvement in GDP per capita- Increase in literacy rate- Improved healthcare- Long life expectancy- Health services improvement- Sustainable development- Environmental conservation- Resources preservation for future- Abundance future resources- Balanced development- Better income distribution- Poverty reduction- Balanced peninsular & eastMalaysia development- Long term environmentalimplication- Economic Development Effects- Economic problem- Income inequality- Social problemEco system instability
16