Modern Economics in the Context of Economic Education: Moral and Ethical Dimension
DOI:
https://doi.org/10.63437/3083-6433-2026-1(36)-06Keywords:
economics, market, economic theory, economic education, benefit, ethics, moralityAbstract
The article raises the problem of incorporating moral and ethical content into modern economics and economic education. It is argued that “pure” economic theory, lacking a humanitarian component and moral-ethical values, is inevitably limited in its intellectual scope. It is shown that within economic theory rationality is often reduced to instrumental utility and the minimization of losses. Such a rational-pragmatic approach constructs the image of the “economic man” as an amoral calculating mechanism oriented exclusively toward maximizing personal benefit. The paper demonstrates that individual rationality, understood as the maximization of private gain, often leads to collective uncertainty and a reduction in social welfare. It is emphasized that the moral and ethical dimension of economics and economic education diminishes the dominance of “pure” rationality, narrows the gap between real life and its theoretical explanations, and allows economic decisions to be motivated not only by the pursuit of possible gain but also by internal moral and ethical considerations.
It is stressed that ethics forms an institutional environment of trust, without which market coordination loses its stability and efficiency. The article highlights that the ethical dimension is increasingly integrated into economic practice through mechanisms of corporate social responsibility aimed at overcoming market failures and reducing information asymmetry. It is argued that, in order for ethics not to remain merely a set of abstract declarations, modern economic education should restore the connection between economic analysis and the philosophical and moral foundations of social life, fostering in future specialists an awareness of the social responsibility of economic decisions.
In conclusion, it is emphasized that integrating the ethical dimension into economic theory and economic education is a necessary condition for the formation of sustainable economic institutions capable of combining market efficiency with the provision of public welfare.
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