International Economic Law

This subject has the following teaching availabilities in 2013:

Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.

The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:

• The ability to attend a minimum of 75% of classes and actively engage in the analysis and critique of complex materials and debate;
• The ability to read, analyse and comprehend complex written legal materials and complex interdisciplinary materials;
• The ability to clearly and independently communicate in writing a knowledge and application of legal principles and interdisciplinary materials and to critically evaluate these;
• The ability to clearly and independently communicate orally a knowledge and application of legal principles and interdisciplinary materials and critically evaluate these;
• The ability to work independently and as a part of a group;
• The ability to present orally and in writing legal analysis to a professional standard.

Students who feel their disability will inhibit them from meeting these inherent academic requirements are encouraged to contact the Disability Liaison Unit: www.services.unimelb.edu.au/disability/

Newspaper headlines frequently concern global economic issues, from trade disputes between countries, investment claims by foreign investors against sovereign States, to countries facing a balance of payments crisis and seeking assistance from the International Monetary Fund (IMF). This subject examines the law governing global economic issues. It is designed both as a comprehensive introduction in its own right to this important field, as well as a foundation for further exploration through specialist subjects in the curriculum. It begins with a historical and theoretical background to the field before turning to focus on the law and practice of the World Trade Organization (WTO), including close analysis of the WTO dispute settlement system and the role of ‘free’ or preferential trade agreements within that system. This provides context for understanding international investment law, including under bilateral investment treaties and pursuant to investor– State dispute settlement decisions. Finally, the subject examines the lending policies and practices of international financial institutions, particularly the IMF and the World Bank.

Principal topics will include:

• Nature, evolution and context of international economic law
• The law of the WTO
• Dispute settlement in the WTO
• International investment law
• Investor–State arbitration under the International Centre for Settlement of Investment Disputes (ICSID) Convention
• International financial institutions (particularly the IMF and the World Bank).

A student who has successfully completed this subject should:

• Be able to identify the key areas of international economic law, including the law of the World Trade Organization (WTO), international investment law and the practices of international financial institutions (International Monetary Fund (IMF) and World Bank)
• Be familiar with the major forms of dispute settlement in the field (including the WTO Dispute Settlement Understanding and the International Convention on the Settlement of Investment Disputes) and their similarities and differences
• Have a critical understanding of current controversies surrounding the impact of international economic law on various aspects of state sovereignty.

3-hour examination (100%) (7 June)
or
10,000 word research paper (100%) (24 July) on a topic approved by the subject coordinator

Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Visit the Melbourne Law Masters website for more information about this subject.

This subject is not available as a breadth subject.