Divine Economics is a newly developed framework to study religion and economics in each other’s perspective. It was developed by Dr. Syed Nisar Hussain Hamdani in 1999. The framework offers insights for developing new models and variables for economics in the light of Holy Scriptures of Divine Religions. This framework has brought many attractive studies and data sets that have generated interest among economists and researchers of world-renowned universities including Harvard, London School of Economics, Chapman University, George Mason University, Virginia University, Al-Mustafa International University, Cambridge University UK. Internationally Recognized Academic Contribution, “Divine Economics”, is basically the initially done PhD research work of Prof. Dr. Syed Nisar Hussain Hamdani. He studied the role of faith in economic behavior under the assumption that people perceive about a super being. Majority on earth believes that exists a supreme power known through words such as Divine, God, Allah, Deity, Most High, Spirit, Creator, Karma, Father etc.

People do also have some perceptions about a life after death, a purgatory, a day of judgment and heaven or hell. The framework assumed that these perceptions are likely to influence human behavior in a systematic manner that need to be analyzed but is neglected by contemporary mainstream economics. The study presented a complete theory, developed mathematical models, prepared many sets of questionnaires covering hundreds of variables and conducted many empirical analyses. A number of dissertations have been produced so far at Master’s, M.Phil and PhD level. The studies incorporate religiosity, spirituality, ethics, values and reinforcement into economic models.