Time and life
The first problem of the Dalai Lama's Ethics is that humans are trapped in this reality without the ability to control their fate. They are trapped in a moving reality that shifts forward in time, so that all humans are promised their ultimate fate of death. The problem of life is that it happens without permission, without our understanding, and without our ability to change life's inherent suffering. The primary imagery of life is said to be suffering, especially if one desires not to suffer—that person suffers all the more.
Ethics as courageous patience
Although one can conceive of ethics in any number of philosophical angles and considerations, the Dalai Lama conceives of ethics as a deliberate choice to be courageous and patient when life's circumstances arise. He explains that ethics is experienced in real time as a courageous response to life's adversities when temptation makes us desire the wrong behavior. The temptation is oriented as a trick that worsens fate in exchange for immediate pleasure. To deny one's immediate pleasure is to have courage to be patient and thoughtful, and to do what is best instead of what one desires.
Desire and suffering
Life is suffering through and through, but these Ethics teach that desire must be understood if one wishes to mitigate suffering. Desire is the aversion to suffering, because one desires pleasure, accomplishment, companionship, admiration, money, vengeance, etc. These are all desires, says the Dalai Lama. By recognizing when desire is present, one can learn to disobey desire, or rather, one can learn how to pursue one's ultimate desire strategically, instead of indulging the desirous human instincts. By choosing the ethical pursuit of happiness, one fulfills desires by escaping them altogether.
The karmic system
The Dalai Lama takes time to explain the abstract imagery of karma. It seems at first glance like a divine judgment, punishing someone for sin and rewarding someone for right behavior, but that imagery is insufficient. Not only is "bad karma" not punishment, "good karma" is not reward. Life is not necessarily improved by doing what is good. By doing evil, perhaps someone could become rich, so good karma would not necessarily make someone rich and powerful. Instead, good karma would reward the ethical person with happiness that is independent of wealth. Likewise, the teacher explains that "bad karma" is a gift that allows humans to learn from their mistakes so that they can also become happy.