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Global Financial Architecture (LAWS70013)
Graduate coursework level 7Points: 12.5Online
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
May
Lecturers
Danielle Malek Roosa (Coordinator)
Wolfgang Bergthaler
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | May - Online |
|---|---|
| Fees | Look up fees |
The International Monetary Fund (IMF) and the World Bank are arguably the two least understood and most controversial international organisations. Both are key components of the international financial system. They also play a vital role in national economies (as seen for example in the IMF's involvement in the Euro-zone crisis or in addressing the economic dislocations caused by the COVID-19 pandemic and its analytical work on the prevention and resolution of sovereign debt crises) and international development. This subject will focus on the IMF and World Bank while also providing students with a sophisticated understanding of the broader international financial system and its problems. It is taught by Wolfgang Bergthaler, Assistant General Counsel in the IMF Legal Department, and Danielle Malek Roosa, Senior Counsel at the World Bank. The subject provides a valuable insider's perspective on the 'Bretton Woods' institutions.
Principal topics include:
- Key institutions of the global financial order, namely the IMF and the World Bank, including their history, powers, policies, practices and political and economic rationale
- The role of these institutions within the globalisation debate
- The linkages between these institutions and other institutions, including the World Trade Organization (WTO)
- The IMF, including its Articles of Agreement, IMF surveillance, financing, and capacity development
- The role of the IMF in the prevention and resolution of financial and sovereign debt crises
- The institutions of the World Bank Group, their Articles of Agreement and their respective roles in promoting development
- The operational cycle of the World Bank, its financing instruments and policies
- The role of human rights and other ‘political issues’ in the work of the World Bank
- Current challenges to the IMF and the World Bank, and proposals for their reform.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the legal framework applicable to, and governance structures of, the IMF and World Bank
- Be able to critically examine, analyse, interpret and assess the operation of these institutions, in light of this legal framework and principles of good governance
- Be an engaged participant in debate regarding contemporary issues relating to the IMF and World Bank, such as voice and participation reforms, accountability and the relationship of these institutions to other multilateral and regional bodies (including new development banks)
- Have a sophisticated appreciation of the Articles of Agreement which established the IMF and World Bank, and key interpretive questions about the implementation of these Articles
- Have an advanced understanding of historical factors and processes that have influenced the design and development of the legal framework of the IMF and World Bank
- Have a detailed understanding of the relationship of the IMF and World Bank to other international institutions, including the UN and WTO
- Have the cognitive and technical skills to generate critical and creative ideas relating to the accountability of international financial institutions to their members, and to critically evaluate their impact on the sovereignty of their members
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal issues relating to the operation of the IMF and World Bank
- Have the communication skills to clearly articulate and convey complex information regarding the IMF and World Bank to relevant specialist and non-specialist audiences
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of international economic law.
Last updated: 12 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
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.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 12 November 2022
Assessment
| Description | Timing | Percentage |
|---|---|---|
This course is intended to be interactive and participation is expected. There will be two joint IMF World Bank Q&A sessions. Marks are awarded for participation. | Throughout the teaching period | 10% |
Option 1: Take-home examination
| 22 - 25 July 2022 | 90% |
Option 2: Research paper on a topic approved by the subject coordinator
| 31 August 2022 | 90% |
| Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online, however attendance at all live online sessions is expected. | Throughout the teaching period | N/A |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 12 November 2022
Quotas apply to this subject
Dates & times
- May - Online
Mode of delivery Online Contact hours Total time commitment 150 hours Pre teaching start date 27 April 2022 Pre teaching requirements Please refer to the Reading Guide on the LMS subject page for confirmation of which resources need to be read and what other preparation is required before the teaching period commences. Teaching period 25 May 2022 to 31 May 2022 Last self-enrol date 2 May 2022 Census date 26 May 2022 Last date to withdraw without fail 15 July 2022 Assessment period ends 31 August 2022 May contact information
Lecturers
Danielle Malek Roosa (Coordinator)
Wolfgang BergthalerEmail: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 12 November 2022
Further information
- Texts
Prescribed texts
Specialist materials will be made available via the LMS in the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
- Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-masters@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 12 November 2022