Ethics in Economics

Research Paper Instructions:

Write a literature review on the already approved research topic. Your literature review should contain 10-15 references, of which three or four are of primary importance (depends on the literature) and the rest are complementary. There is a two-page (single-spaced) limit, which does not include your references section. Use Chicago stv.le E_references, bibliography and footnotes.

Your objective is to synthesize the literature and deliver it to the reader in an efficient and pleasant manner. This is not an easy assignment. You must find and read more papers, think strategically about how to present the material, and wordsmith the document until the reader can easily discern the key themes and findings from the literature.

There is no precise way to grade such a paper--i.e., we have no marketplace for ideas where students compete for space in journa ls. As a consequence, I will use the following rubric to assign grades:1) After reading all the papers, Iwill sort them into letter-grade bins;2) rank

the papers within each bin;and 3) assign number grades from the published scale in the syllabus that correspond to the rankings from 1and

2. This rubric allows for the possibility that all students can get into the 'A' bin--i.e.,there is no ex ante grade distribution which determine ex post grades.

Research Paper Sample Content Preview:

Ethics in Economics
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Ethics plays a significant role in economics. For instance, economists adopt moral values that align with judgments. The latter is essential in analyzing, predicting, and modeling financial phenomena. Essentially, ethics bolster ethical foundations and prerequisites of economic systems. According to Widerquist and Lewis (2017), ethical issues correspond with the latter positively. For example, cost-benefit analysis lets one decide by weighing expenses and benefits. One may opt to finance a political campaign or help a town develop. The two aspects are vital, but one decision outplays the other. Economic practices deter selfishness and self-interests, which are detrimental to performance and efficiency. These traits tend to refrain one from considering the impacts of decisions made on the species and relevant industry players. Ethics align individuals with determining standards that count as costs or benefits.[Cuomo, Maria Teresa, Debora Tortora, Alice Mazzucchelli, Giuseppe Festa, Angelo Di Gregorio, and Gerardino Metallo. "Impacts of Code of ethics on financial performance in the Italian listed companies of bank sector." J. Bus. Account. Financ. Perspect (2018).]
Ethics aligns economists' thinking with focusing on the will of good. For instance, one prioritizes equality, duty, and liberty. In one's economic life, the need to make ethical and moral decisions always arise. The impact of such conclusions depends on the effects created on society. For example, ethics compels organizations to evaluate market approaches and partnerships. For instance, collaborating with firms that exploit employees or running misleading or false ads are some factors corporates consider when adopting moral values. These examples highlight the role of ethics in economics and how financial decisions relate to society. James et al. (2020) view ethical economics as political. The scholars refer to the latter as the measure by within corporates and individuals allocate resources to satisfy needs. Generally, moral values help one analyze economic growth, distribution, production, trade, and consumption. Additionally, studies by Widerquist and Lewis (2017) and Tang et al. (2018) concur that ethics brings to light issues relating to international finance and trade and government policy factors such as taxation. These elements underline the profound reason why ethics matter.[Rashid, Norfadzilah, Asyraf Asfthanorhan, Razana Juhaida Johari, Nadiah Abdul Hamid, Ahmad Shukri Yazid, Fauzilah Salleh, Berhanudin Abdullah, Aida Hazlin Ismail, and Zarinah Abdul Rasit. "Ethics and Financial Reporting Assurance." International Journal of Academic Research in Business and Social Sciences 8, no. 11 (2018): 1346-1355.] [Xin, Baogui, Wei Peng, Yekyung Kwon, and Yanqin Liu. "Modeling, discretization, and hyperchaos detection of conformable derivative approach to a financial system with market confidence and ethics risk." Advances in Difference Equations 2019, no. 1 (2019): 1-14.]
Ethical economics exposes individuals and firms to benefits ranging from better relations to industrial longevity. A study by Widerquist and Lewis (2017) reveals that unethical codes of conduct hurt societies ...

Updated on January 26, 2024

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Ethics in Economics

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