FMN Finance

FMN - 2020/October, Seg. 3 - Social Credit - Choose Your Friends Wisely

Can your friends determine your creditworthiness? Well, they sure can. The social credit system was initiated in China in 2014 and is due to be fully operational nationwide in 2020, yet the idea goes back to 2007. The program has already been piloted and, according to a government document, the social credit system is trying to reinforce the idea that “keeping trust is glorious and breaking trust is disgraceful.” Can we associate Social Credit with the power of influence? Maybe so! Our behavior can be viewed as an “entry” that is given a social credit score, which ultimately acts as a reward or punishment system providing us with a high or low score. Yafit Lev-Aretz, assistant professor of law at the Zicklin School of Business, Baruch College, City University of New York, defines social credit and discusses its features and implications in today's world.

Learning Objectives:

  • Define the social credit score model and how and where it is used,
  • Determine how the theory of contextual integrity affects social media expectations,
  • Identify some of the implications and criticisms of social credit and its potential impact on financial credit, and
  • Recognize the differences between U.S. and Chinese social credit systems.


Prerequisites/Advanced Preparation:

Work experience in a corporate staff environment, or an introductory course in finance.


Speaker / Author:

Yafit Lev-Aretz, Zicklin School of Business, Baruch College

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Price (USD)

Standard: $69.90

Details

Course Code : FMN1370-FM

Release Date : 10/09/2020
Expire Date : 05/14/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Finance


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