| CODE | BFI5410 | ||||||||
| TITLE | Business Ethics | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Banking, Finance and Investments | ||||||||
| DESCRIPTION | This study-unit, "Business Ethics" is designed to provide an in-depth understanding of business ethics within the financial services industry, contextualized within Maltese and EU regulatory frameworks. It explores the ethical considerations and implications of various financial scandals, including but not limited to Enron, WorldCom, FTX, Wirecard, and the BaFin Failure during the Volkswagen scandal. The study-unit also delves into ethical finance models like Islamic finance, emphasizing their principles and applications. Through these case studies, students will learn about the importance of ethical decision-making and the consequences of ethical lapses in financial services. Ethics deals with the right or wrong of all human acts, be they economic, cultural or social. This study-unit will cover area of Business Ethics comprehensively. In contrast to other business ethics courses which tend to focus exclusively on an exclusively secularized approach to the subject, we will also include the views of the Austrian School of Economics on Business Ethics as well as Christian approaches to this subject. There will be a marked emphasis on correct ethical behaviour in the financial services field. Study-unit Aims: The aim of this study-unit is to equip students with the knowledge, skills, and ethical frameworks necessary to navigate complex ethical challenges in the business world. By fostering ethical awareness, providing practical tools for decision-making, and promoting a culture of integrity and responsibility, the study-unit aims to empower future business leaders to make ethical decisions that contribute to the well-being of society and the sustainability of organizations. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Identify situations where ethical considerations are relevant and determine the potential impact of their decisions on stakeholders; - Identify ethical issues and challenges that arise in the financial services industry; - Propose ethical considerations in a global and culturally diverse financial environment; - Analyse real-world case studies related to ethical challenges in financial services; - Critically assess and discuss complex ethical scenarios, applying theoretical knowledge to practical situations; - Relate ethical concepts and materials to ethical problems in specific professions and professionalism. 2. Skills By the end of the study-unit the student will be able to: - Propose how financial institutions can contribute to the well-being of society and act responsibly toward various stakeholders; - Cultivate and recognise a sense of professional conduct and integrity among future financial services professionals; - Recognise the importance of honesty, transparency, and accountability in their professional roles; - Navigate cultural differences and appraise the ethical challenges that may arise in diverse international contexts; - Critically analyse real-world case studies related to ethical challenges in financial services; - Propose Corporate Social Responsibility and its relevance to financial services. Main Text/s and any supplementary readings: Main Text - Byars, Stephen, & Stanberry, K., Business Ethics, (2018), OpenStax, Rice University, Texas, USA. - Booth, Philip., The Crash of 2008: A Discussion of its Causes and their Relationship to Ethical Issues, (2012), in Gregg, Samuel and James, Harold (eds), Natural Law, Economics and the Common Good (2012), St.Andrews Studies in Philosophy and Public Affairs, UK. - Hulsmann, Jorg. G, (2008). The Ethics of Money Production, Ludwig von Mises Institute, Alabama, USA. - North, Gary., Honest Money: The Biblical Blueprint for Money and Banking, (2011), Ludwig von Mises Institute, Alabama, USA. |
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| ADDITIONAL NOTES | Pre-Requisite qualifications: Bachelor Degree or as decided by the Board of Studies | ||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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