Consumer behaviour, i.e., how the consumers allocate their income between different heads and how they decide how much to consume now and how much to save for future is a key topic in modern economic theory. The study of consumer behaviour bears implications for macro economic policies. Many...

In his article "Macro Consumption Function in an Islamic Framework" Professor M. Fahim Khan has demonstrated that consumption in an Islamic economy is likely to he lower and savings larger than if the same economy were operating on a secular basis. He, therefore, finds no room for the...

Consumption function in Islamic framework has attracted in this Journal more attention than any other micro or macro-aspect of Islamic economic system. Yet, all these half a dozen presentations have simply focused on a trivial issue i.e. implication of Islamization of an economy on the...

Consumption theory has always been a neglected field in Post Keynesian economics, whereas it is at the center of New Keynesian economics. This paper investigates similarities and differences between the two approaches. I will show that the newer mainstream models indeed give results that are...