QUESTION 2

According to Boatright (1999), "Despite the diversity of financial roles and activities, an understanding of the need for ethics can be developed around three broad themes:

1. Ethics is needed in financial markets

2. Ethics is needed in the financial services industry

3. Ethics is needed by finance people in organizations"

Explain the above statement.

QUESTION 3

Immanuel Kant developed a very influential ethical theory that seeks to answer the question "what besides consequences could be relevant to the morality of an action?

Explain the ethical theory proponed by Kant.

QUESTION 3

Briefly explain what is meant by the equity/efficiency trade off.