Every time I talk to an MBA grad I hear stuff like this spoken about enthusiastically. I suspect that they moved the business ethics bit to the elective part of the course.
The best likely outcome of ethics classes is for it to give good people who are naive about the business world some forewarning about dilemmas they're likely to face so they can be prepared to do what's necessary to preserve their integrity and not get caught up in the (possible fake) urgency of the moment.