Ethics

URL study guide

https://studiegids.vu.nl/en/courses/2024-2025/E_EBE2_ETHI

Course Objective

This course delves into the ethical dimensions of markets, business, and economic life, integrating personal and institutional perspectives, applied ethics, and political philosophy. The curriculum provides a robust theoretical and methodological framework for analysing ethical issues in economic contexts. It introduces students to foundational concepts of markets, property rights, and law, and examines the purpose and responsibilities of corporations through various normative theories and the role of business in society. Additionally, the course analyses business and economic life through ethical values such as welfare, efficiency, liberty, etc. Furthermore, it equips students with the theoretical and methodological tools to evaluate economic policies and decision-making in business from ethical standpoints. Upon completion of this course, students will be equipped with the theoretical and methodological tools to critically evaluate and apply ethical theories to real-world economic and business issues. Students will be capable of assessing the ethical implications of market policies and corporate practices, integrating personal and institutional perspectives, and proposing ethically sound solutions that balance individual character, community values, and broader economic systems. Learning Goals:Evaluating Corporate Responsibilities: Analyse and evaluate different perspectives on the purpose and responsibilities of corporations, including shareholder primacy and stakeholder theories. (Academic and Research Skills)Applying Ethical Theories: Apply ethical theories (e.g. utilitarianism, Kantian ethics) to evaluate business practices and economic policies. (Bridging Theory and Practice)Critical Analysis of Market Ethics: Critically examine the ethical dimensions of market systems. (Academic and Research Skills)Integrating Ethical Perspectives: Integrate personal and institutional viewpoints in your ethical analysis, considering the interplay between individual character, community values, and broader economic systems. (Broadening your Horizons)Methodological Application: Develop methodological skills to practically apply ethical theories to real-world economic issues and policy proposals, using case studies and empirical research as a basis for evaluation. (Bridging Theory and Practice)

Course Content

Part I: Foundations of Markets and Ethics
• Introduction to market exchanges, property rights, and their legal and cultural contexts.
• Normative theories and their applications to property rights and market functioning. Part II: Corporate Purpose and Responsibilities
• Examination of the shareholder primacy theory and its ethical justifications.
• Exploration of the stakeholder theory and alternative perspectives on corporate purpose and managerial duties.
• Analysis of corporate personhood and the interplay between business ethics and government roles. Part III: Efficiency, Welfare, and Broader Ethical Considerations
• Concepts of Pareto efficiency and its ethical implications.
• The role of public goods and utilitarianism in economic analysis.
• Liberty, rights, equality, and desert as ethical considerations in market systems. Part IV: Integrative Ethical Perspectives and Application
• Relationships and character, virtue ethics, and the ethics of care.
• Community, the common good, and the impact of markets on communities.
• Methodological skills for applying ethical theories to real-world issues.
• Valuing non-marketed goods; the value of life.

Teaching Methods

Lectures and tutorials.

Method of Assessment

• Written Exam
• Group Assignment

Literature

Chapters from textbook, see Canvas

Target Audience

EBE students year 2

Entry Requirements

No entry requirements.

Recommended background knowledge

No recommended background.