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About this subject
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Professor Jurgen Kurtz (Coordinator)
Assistant Professor Yueming Yan (Coordinator)
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Newspaper headlines frequently concern global economic issues, from trade disputes between countries and investment claims by foreign investors against sovereign states, to countries facing balance-of-payments crises 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 focus on international trade law, particularly the rules and dispute settlement procedures of the World Trade Organization (WTO). It then discusses contemporary developments in international trade law and policy, including the negotiations for regional or bilateral preferential trade agreements. The subject then considers international investment law, examining key substantive obligations relating to investor protection and investor-state dispute settlement mechanisms (particularly through the International Centre for Settlement of Investment Disputes (ICSID)). Finally, the subject provides an introduction to the lending policies and practices of international financial institutions, particularly the IMF and the World Bank.
Intended learning outcomes
A student who has successfully completed this subject should be able to:
- Integrate their understanding of key areas of international economic law, including the law of the WTO, international investment law and the practices of international financial institutions (IMF and World Bank)
- Critically examine, analyse, interpret and assess the effectiveness of these legal rules
- Engage in scholarly debate regarding controversies surrounding the impact of international economic law on various aspects of state sovereignty
- Examine and explain the major forms of dispute settlement in the field (including the WTO Dispute Settlement Understanding and the ICSID Convention) and their similarities and differences
- Independently examine, research and analyse existing and emerging legal issues relating to international economic law
- Articulate and explain complex information regarding international economic law to relevant specialist and non-specialist audiences.
Last updated: 10 November 2023