ABSTRACT
This chapter describes the basis for an approach to Islamic microeconomics. Modeling specific religious injunctions and prescriptions can be straightforward and perhaps no different to modeling policy implementations such as taxes in a partial equilibrium setting or rewards and punishments in a game theory setting. However, the Islamic faith explicitly describes the interaction between God-consciousness and adherence to these injunctions and prescriptions as similar to the accumulation of religious capital discussed by Iannaccone. The more God-conscious the agent, the more God's objectives matter and become one's own objectives. If, as suggested in Iannaccone, the dynamics of God-consciousness can be modeled as a form of capital accumulation, then it is implied one can choose to maximize one's increase in God's-consciousness or other things that comprise a given agent's objectives.
