Ethics Case Study Eth/551
Ethics Case Study
Matthew Gourlie
ETH/557
November 17, 2013
We have all heard the term ethical code; however do people actually know what ethics mean. To some ethics is moral principle to do what is right and just without thinking about the consequences. However, ethical code is more than just morals it is principle rules set in place to ensure people and businesses to set out to cheat someone. According to Dictionary.com “ Ethics have three true meanings; a system of moral principles, any rules in place that are recognized in respect to a particular class of human actions or culture, or the branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness …show more content…
Positive economics are scientific economics. They are used to predict and determine the impact of changes in prices, supply, demand, and other variables on the economy. Normative economics are judgmental economics because they are based on the preferences and philosophical views of the individual. Normative economics are simply used to express an individual 's view of what an economic situation should be.
Positive and normative economics are both used in economic logic and decision making. Used together, they are very useful concepts. However, they are different in that positive economics are derived from facts, whereas normative economics are derived from opinions. Although positive and normative economics are quite different in their definitions, they can mutually influence one another. For instance, normative economic views can influence an individual 's outlook on positive economics. Likewise, positive economics indicate what normative economics are likely to occur based on the history of statistical …show more content…
(2010). Doing business in Jamaica? Retrieved November, 17 2013 from http://www.jamaicans. com/info/inforesources/business_etiquette.shtml.
Dictionary.com (2013). Ethics. Retrieved November 17, 2013 from http://dictionary.reference.com/browse/ethics
Fok, L.Y., Hartman, S.J. & Kwong, K. (2010). Differences in business ethical values: a study of differences in business ethical values in mainland China, the U.S. and Jamaica. 21-26.
Schulman, M. (2010). Business ethics in China. Retrieved November 17, 2013 from http://www.scu.edu/ ethics/publications/ethicalperspectives/business-china.html.
Given the current pressures on China, Jamaica, and America expressed in the article, how would ethics play a role in decision making for financial, environmental, and cultural issues?
How are the concepts of positive and normative economics reflected in this context?
How do market efficiency, economizing, and the market system affect these ethical
Matthew Gourlie
ETH/557
November 17, 2013
We have all heard the term ethical code; however do people actually know what ethics mean. To some ethics is moral principle to do what is right and just without thinking about the consequences. However, ethical code is more than just morals it is principle rules set in place to ensure people and businesses to set out to cheat someone. According to Dictionary.com “ Ethics have three true meanings; a system of moral principles, any rules in place that are recognized in respect to a particular class of human actions or culture, or the branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness …show more content…
Positive economics are scientific economics. They are used to predict and determine the impact of changes in prices, supply, demand, and other variables on the economy. Normative economics are judgmental economics because they are based on the preferences and philosophical views of the individual. Normative economics are simply used to express an individual 's view of what an economic situation should be.
Positive and normative economics are both used in economic logic and decision making. Used together, they are very useful concepts. However, they are different in that positive economics are derived from facts, whereas normative economics are derived from opinions. Although positive and normative economics are quite different in their definitions, they can mutually influence one another. For instance, normative economic views can influence an individual 's outlook on positive economics. Likewise, positive economics indicate what normative economics are likely to occur based on the history of statistical …show more content…
(2010). Doing business in Jamaica? Retrieved November, 17 2013 from http://www.jamaicans. com/info/inforesources/business_etiquette.shtml.
Dictionary.com (2013). Ethics. Retrieved November 17, 2013 from http://dictionary.reference.com/browse/ethics
Fok, L.Y., Hartman, S.J. & Kwong, K. (2010). Differences in business ethical values: a study of differences in business ethical values in mainland China, the U.S. and Jamaica. 21-26.
Schulman, M. (2010). Business ethics in China. Retrieved November 17, 2013 from http://www.scu.edu/ ethics/publications/ethicalperspectives/business-china.html.
Given the current pressures on China, Jamaica, and America expressed in the article, how would ethics play a role in decision making for financial, environmental, and cultural issues?
How are the concepts of positive and normative economics reflected in this context?
How do market efficiency, economizing, and the market system affect these ethical