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Professional Ethics and Economic Decisions: Time Business News

Professional Ethics and Economic Decisions

Many of the fundamentals of engineering ethics are intertwined with the roles of money and economics-based decisions in the making of professionally ethical judgments. Some of these integral connections are discussed here, plus sections in later discuss additional aspects of ethics and economics. For example, Benefi t/Cost Analysis and Public Sector Economics, includes material on the ethics of public project contracts and public policy. Although it
is very limited in scope and space, it is anticipated that this coverage of the important role of economics in engineering ethics will prompt further interest on the part of students and instructors of engineering economy. The terms morals and ethics are commonly used interchangeably, yet they have slightly different interpretations. Morals usually relate to the underlying tenets that form the character and conduct of a person in judging right and wrong. Ethical practices can be evaluated by using a code of morals or code of ethics that forms the standards to guide decisions and actions of individuals and organizations in a profession, for example, electrical, chemical, mechanical, industrial, or civil engineering. There are several different levels and types of morals and ethics.

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