Can law and regulation ensure or promote ethical behavior by political and business leaders? Recent scandals in the United States and internationally indicate that there is little correlation between anti-corruption laws and ethical conduct. This course examines the laws and regulations in the United States governing ethical conduct of public and industry officials and explores the extent to which (1) they adequately reflect the moral values of the community, (2) they reflect the principles central to a democratic government: transparency, accountability and limits of authority, and (3) they are followed and enforced. It looks at other developed countries that balance compliance with moral principles and values-based approaches to ethical conduct. It also examines emerging global ethical standards and reporting principles and their application to emerging markets. In doing so, the class will discuss how cultural, religious, and moral differences might impact the effectiveness of these standards and will examine the role of modern corporations in fostering rule of law and how business organizations function in changing legal and regulatory environments. The course also reviews the role of free media, citizen groups, and the judiciary on ensuring that laws and ethical standards are followed and maintained.