Energy Resources in Emerging Markets

Subject LAWS90020 (2015)

Note: This is an archived Handbook entry from 2015.

Credit Points: 12.5
Level: 9 (Graduate/Postgraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2015:

August, Parkville - Taught on campus.
Pre-teaching Period Start 13-Jul-2015
Teaching Period 10-Aug-2015 to 14-Aug-2015
Assessment Period End 28-Oct-2015
Last date to Self-Enrol 17-Jul-2015
Census Date 10-Aug-2015
Last date to Withdraw without fail 18-Sep-2015

Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: The total class time is between 24 and 26 hours.
Total Time Commitment:

The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.

Prerequisites: None
Corequisites: None
Recommended Background Knowledge:

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.

Non Allowed Subjects: None
Core Participation Requirements:

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:


Prof Paul Stephan


For more information:

Phone: +61 3 8344 6190

Subject Overview:

This subject explores the legal and regulatory structures affecting foreign investors seeking to participate in the development of energy resources in so-called ‘emerging markets’, and in particular in the restructuring of formerly socialist economies. Russia will be used as an example of an emerging market presenting particular characteristics and problems that provide important insights into emerging markets elsewhere in the world.

The subject coordinator has conducted research on ‘emerging markets’ over many years, and has extensive practical experience as an adviser in these matters. His work is widely published in numerous books and journal articles.

Principal topics include:

  • Corruption and money laundering
  • Liability for human rights abuses
  • Forms of foreign investment and commercial transactions
  • Local accreditation
  • Taxation
  • The privatisation process
  • Intellectual property protection
  • Import-export regulations
  • Currency controls
  • Project and conventional financing
  • Banking
  • Development and regulation of capital markets
  • Securities and commodities exchanges
  • Financing
  • Environmental protection.

There will be several simulated negotiation exercises.

Learning Outcomes:

A student who has successfully completed this subject will:

  • Have an advanced and integrated understanding of the legal and regulatory structures affecting foreign investment in the development of energy resources in ‘emerging economies’ generally, and Russia in particular
  • Be able to critically examine, analyse, interpret and assess the effectiveness of these legal and regulatory structures
  • Be an engaged participant in debate regarding emerging and contemporary issues relating to these legal and regulatory structures
  • Have a sophisticated appreciation of the factors and processes driving the evolution of these legal and regulatory structures
  • Have an advanced understanding of the risks involved in investment in the development of energy resources in ‘emerging economies’ and the effectiveness of various legal and regulatory structures in managing these risks
  • Have the cognitive and technical skills to generate critical and creative ideas relating to management of these risks
  • Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal issues relating to foreign investment in energy resources in ‘emerging markets’
  • Have the communication skills to clearly articulate and convey complex information regarding foreign investment in energy resource in ‘emerging markets’
  • Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in relation to these matters.

10,000 word research paper (100%) (28 October) on a topic approved by the subject coordinator.

A minimum of 75% attendance is a hurdle requirement.

Prescribed Texts:

Richard N. Dean, James W. Skelton, Jr., and Paul B. Stephan, Doing Business in Emerging Markets: A Transactional Course (Foundation Press, 2nd ed. 2015)

Core subject materials will also be provided free of charge to all students.

Breadth Options:

This subject is not available as a breadth subject.

Fees Information: Subject EFTSL, Level, Discipline & Census Date
Links to further information:

This subject has a quota of 30 students. Please refer to the website for further information about the management of subject quotas and waitlists.

Download PDF version.