This course introduces students to the external constraints that society places on business activity and behavior. The most obvious are those constraints imposed by law in its various forms: case law from courts, statutory law from legislatures, and regulations from government agencies. However, in addition to these formal systems there are the informal, but extremely powerful constraints imposed by generally accepted moral beliefs and norms of ethical behavior. In this course students explore the relationship between legal and ethical standards to critically analyze and evaluate the behavior of business owners, managers, and employees.
Prerequisites: Second year standing or above.