Ethics in Finance

Ethics in Finance is more than knowing how to focus on monetary value as well as on values in respective actions. Leaders and managers in finance need to elaborate a deep understanding of rational and therefore institutional constraints to align their business and organization on ethical aspects. At the end this will lead to what is called a banking culture with sustained behavior. We will discuss contemporary debates in ethics of finance on a conceptual as well as practical level. We will review the illusion of moral behavior in current best practice and understand the need of order aspects in ethics to empower conduct for a ethical Culture. We revisit the impact of codes of ethics, industry standards, regulations and the challenge to observe or to audit them.

The course also elaborates international differences and convergence trends. Based on real life cases, participants shall practice to deal with ethical heterogeneity inside the claims of integrity and they understand how to deal with emerging dilemmas and analyze complexity drivers in today’s fast-paced financial world. By the end of the course, we will have created a holistic understanding on how sound corporate ethics contribute to the financial bottom-line of a company and its culture.


Ludmila Ketterer

Senior Manager -
Degree & Corporate Programs
+49 69 798 33512

Learning objectives

Upon completion of the course, you will:

  • Know of the main moral tension fields and ethical approaches related to finance
  • Be able to anticipate and design new strategies for ethical dilemmas in reasonably complex situations
  • Have enhanced your skills to communicate, implement, and evaluate innovative solutions
  • Have clarified crucial values and success behaviors for you and your career

Key concepts

  • Professionalism and management of recognition and motivation versus compliance and the role of "Managing Risk Culture" to work inside a sustained and comprehensive banking culture
  • Ethics versus morals, sustainability, corporate social responsibility, citizenship, different forms and versions of integrity, authenticity
  • Theories and practices of rational ethics (ethics of duties, ethics of rights and justice, homo oeconomicus)
  • The concept of Order-Ethics versus its alternatives.

Course format

This course is offered in the part-time Master in Finance program and may be attended on a “no credit” basis by individuals not enrolled in the program. Course participants are visitors who are not responsible for assignments and do not take an exam or earn academic credits. As the number of seats in the course is limited, we recommend to register online early.

Key Facts

Course materials
Course materials except books will be provided in electronic form.


Course fee*
€ 750 (fee is exempt from VAT). Goethe Business School students and alumni receive a 20% discount off the regular fee.

Certificate of participation
A GBS certificate of participation is awarded upon completion of the course.

House of Finance, Goethe University, Theodor-W.-Adorno-Platz 3, 60323 Frankfurt

*Withdrawal and fee refund

In case the course withdrawal request is received two weeks prior to the start of classes, we will retain a withdrawal fee of EUR 50. In case the course withdrawal request is received less than two weeks prior to the start of classes, we will retain 50% of the payment made.


Susan Spinner

Susan Spinner is the Managing Director of the CFA Society Germany, the largest association for investment professionals in Germany. Susan has over 20 years of professional experience in capital markets and asset management, in both Germany and the USA. She has provided ethics trainings for students at Goethe University, the European Business School and the Frankfurt School of Finance in the Rhine Main region, in addition to speaking on this topic to investment practitioners nationally.

Susan Spinner champions the topics of professional development, transparency and integrity in financial markets.

Course schedule - 2017

Friday, Apr 7, 2017 18:00-20:00
Saturday, Apr 8, 2017 09:00-11:00
Friday, Apr 21, 2017 13:00-15:00
Saturday, Apr 22, 2017 14:30-16:30
Friday, May 05, 2017 13:00-15:00
Saturday, May 06, 2017 14:30-16:30
Open Programs

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