Lecture

Ethics: Concepts and Case Studies

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In course

FIN-419: Ethical behavior in the financial industry

We will focus on ethical dilemmas facing professionals in the financial industry. Cases based on real events will illustrate various kinds of transgressions. We will study what regulators and firms have put in place to mitigate these issues and propose som ...

Description

This lecture introduces the fundamental concepts of ethics and morality, exploring the distinctions between them and their application in various contexts. It delves into ethical dilemmas, such as saving one person over another and reporting financial misconduct. The instructor discusses real-world case studies, including the Theranos scandal and financial industry transgressions, to illustrate the complexities of ethical decision-making. Through these examples, students gain insights into the importance of ethical behavior in addition to legal regulations. The lecture also covers philosophical perspectives on ethics, questioning how individuals should live and the role of morality in society.

Official source

Related concepts (32)

Ethics

Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and wrong behavior". The field of ethics, along with aesthetics, concerns matters of value; these fields comprise the branch of philosophy called axiology. Ethics seeks to resolve questions of human morality by defining concepts such as good and evil, right and wrong, virtue and vice, justice and crime. As a field of intellectual inquiry, moral philosophy is related to the fields of moral psychology, descriptive ethics, and value theory.

Ethical dilemma

In philosophy, ethical dilemmas, also called ethical paradoxes or moral dilemmas, are situations in which an agent stands under two (or more) conflicting moral requirements, none of which overrides the other. A closely related definition characterizes ethical dilemmas as situations in which every available choice is wrong. The term is also used in a wider sense in everyday language to refer to ethical conflicts that may be resolvable, to psychologically difficult choices or to other types of difficult ethical problems.

Philosophy

Philosophy (love of wisdom in ancient Greek) is a systematic study of general and fundamental questions concerning topics like existence, reason, knowledge, values, mind, and language. It is a rational and critical inquiry that reflects on its own methods and assumptions. Historically, many of the individual sciences, like physics and psychology, formed part of philosophy. But they are considered separate academic disciplines in the modern sense of the term.

Ethics in religion

Ethics involves systematizing, defending, and recommending concepts of right and wrong behavior. A central aspect of ethics is "the good life", the life worth living or life that is simply satisfying, which is held by many philosophers to be more important than traditional moral conduct. Most religions have an ethical component, often derived from purported supernatural revelation or guidance. Some assert that religion is necessary to live ethically.

Outline of ethics

Ethics or moral philosophy is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. The field of ethics, along with aesthetics, concern matters of value, and thus comprise the branch of philosophy called axiology. The following outline is provided as an overview of and topical guide to ethics.

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