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This lecture introduces the fundamental concepts of ethics and morality, exploring the distinctions between them and their application in various contexts. It delves into ethical dilemmas, such as saving one person over another and reporting financial misconduct. The instructor discusses real-world case studies, including the Theranos scandal and financial industry transgressions, to illustrate the complexities of ethical decision-making. Through these examples, students gain insights into the importance of ethical behavior in addition to legal regulations. The lecture also covers philosophical perspectives on ethics, questioning how individuals should live and the role of morality in society.