Tomas Karpavičius

The Ethical Economist: integrating justice and equity into economic decisions

The Ethical Economist: integrating justice and equity into economic decisions

Tomas Karpavičius

Junior assistant at Vilnius University Faculty of Economics and Business Administration, Lithuania

This study explores the critical intersection between economics and ethics, focusing on the necessary role of ethical considerations in economic decision-making. It examines how principles such as fairness, equity and resource allocation affect the macroeconomic and microeconomic environment. By integrating ethical dilemmas into the economics curriculum, educators can significantly improve students' critical thinking and ethical thinking skills.

The research contends that understanding and resolving such dilemmas is essential for preparing students to face real-world challenges, where economic decisions often have significant ethical implications. By examining current educational practices and theoretical frameworks, this discussion highlights effective strategies for integrating ethical issues into economic studies, thereby developing a generation of economists equipped to make decisions that are not only economically sound but also ethically responsible. This approach not only enriches academic discourse, but also prepares students to make positive contributions in a variety of professional contexts, promoting a more just and equitable society.

Keywords: Ethical Economics, Economic Decision-Making, Justice and Equity, Ethical Thinking

Tomas Karpavičius is a doctoral student at the Lithuanian Centre for Social Sciences, a junior assistant at Vilnius University Faculty of Economics and Business Administration, Lecturer at Vilnius University Business School and the University of Milan. Research areas include energy economics, startup ecosystem, and economic development. Active business manager, and board member.