There are many methodological approaches put forward by esteemed economists in Islamic economics. These approaches include the circular economy approach, moral economy approach, institutional approach, assimilative approach and pure transformative approach.
Islamic Alternatives to the Secular Morality Embedded in Modern Economics
This paper presents the ideas of transformative school in Islamic economics. Transformative school of thought in the methodology of Islamic economics is not that much interested in descriptive studies and improving the predictive capability of models to analyze market outcomes and to design policies accordingly. It believes in the transformation of choices through education.