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Ethics and Compliance (Université de Cergy-Pontoise)

Developed by Ronald Berenbeim, The purpose of this course is to introduce a broad range of “non-market” issues encountered by managers and business professionals, and to help develop a set of analytical perspectives for making judgments when such issues arise. In economics many of these issues can be described as market failures or imperfections. The course also looks at how the legal system is used to redress such failures. It then examines the role of ethical norms in resolving such issues in managerial life, and in establishing standards of professional responsibility.

Some sample topics and examples of recommended readings include:

Introduction to ethics and compliance

·      Skepticism about business ethics – the ethics paradox

- L. Bouckaert, The ethics management paradox, Centre for Economics and Ethics, Catholic University of Leuven, 2002

Navigating the tensions between principles and rules

- R. Berenbeim and J.M. Kaplan, The convergence of principle- and rule based ethics programs :an emerging global trend? The Conference Board Inc., 2007

·      What is market failure and related concepts : (1) Externalities; (2) Moral Hazard; (3) Misaligned Incentives 

Basic concepts and methods

·      Ethics methods (1) Consequentialism (2) Deontology (3) Virtue (4) Machiavelianism; (5) Game Theory

·      Ethical leadership

- R. Berenbeim, Why ethical leaders are different? The Conference Board Inc., 2005

·      Identifying market failure situations

- Anonymous, The price of lobster thermidor, The Economist, London: August 23, 1997, vol.344, iss. 8031

Market failure – information assymetries

·      Truth and bluffing

·      Conflicts of interest

·      Neutral Omnipartial Rule Making  (NORM)

·      The fiduciary duty

·      Sales ethics in financial markets

·     Insider trading

Market failure – Externalities 

·      Product liability

·      Social responsibility

·      Discrimination

·      Privacy

 Market failure – Developing v. developed world 

·      Global statistics

·      Machine tool theft

·      Trade and transport – business institutions in global development

04 Jan 2011

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