International Financial System (LAWS70110)

Graduate coursework level 7Points: 12.5On Campus (Parkville)

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Overview

Availability(Quotas apply)
May
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In the wake of the Global Financial Crisis (GFC) of 2008, the visibility of finance and financial regulation has increased dramatically. This subject will provide an overview of the global financial system and international efforts to build structures to support its proper functioning. Taking an integrative approach, the subject will look at the evolution of the global financial system, its structure and regulation. In doing so, it will analyse financial crises, especially the GFC, and responses to it, the Basel Committee on Banking Supervision (BCBS), the Financial Stability Board (FSB) and the International Monetary Fund (IMF).

Indicative list of principal topics:

  • The historical evolution of the international financial markets from Bretton Woods to the present
  • Costs and benefits of internationalisation and globalisation of finance
  • International debt and derivatives markets
  • International prudential regulation and capital adequacy
  • The rise of emerging markets and their integration into the global financial system
  • Major international financial crises, their causes and implications
  • Regulatory responses to financial crises and mechanisms for crisis resolution
  • The international financial architecture and its evolution
  • The impact of technology on global finance and its regulation: FinTech and RegTech.

Intended learning outcomes

A student who has successfully completed this subject will:



  • Have an advanced  and  integrated  understanding  of the principal financial markets of the world and their interrelation with one another in the global financial system
  • Have a sophisticated  appreciation  of the development of those markets over time and major crises therein
  • Have the cognitive and technical skills to generate critical and creative ideas relating to the regulation of activities of those markets (principally through the Basel Accord and other activities of the Financial Stability Board)
  • Be an engaged participant in debate regarding the options for reform of the architecture of the international financial system
  • Have the cognitive and technical skills to independently examine, research and analyse the operations of these markets, including in the context of technological and other innovation
  • Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of international financial regulation.

Last updated: 4 March 2025

Eligibility and requirements

Prerequisites


Corequisites


Non-allowed subjects


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: 4 March 2025

Assessment

DescriptionTimingPercentage

Option 1: Take-home examination

  • 5000 words
20 - 23 June 2025100%

Option 2: Research paper on a topic approved by the subject coordinator

  • 6000 words
16 July 2025100%
Hurdle requirement: A minimum of 75% attendance is required.Throughout the teaching periodN/A

Additional details

Note: Students must choose assessment from the options listed above.

Last updated: 4 March 2025

Quotas apply to this subject

Dates & times

  • May
    Principal coordinatorDouglas Arner
    Mode of deliveryOn Campus (Parkville)
    Contact hours34
    Total time commitment150 hours
    Pre teaching start date 9 April 2025
    Pre teaching requirementsPlease refer to Canvas LMS to check on the pre-class readings and preparatory learning activities before the teaching period commences.
    Teaching period 7 May 2025 to 13 May 2025
    Last self-enrol date14 April 2025
    Census date 9 May 2025
    Last date to withdraw without fail20 June 2025
    Assessment period ends25 July 2025

    May contact information

    Teaching staff:

    Douglas W Arner (Subject Coordinator)

    For current student enquiries, contact the Law School Academic Support Office

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
       -  Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
     

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

Additional delivery details

Please refer to the Melbourne Law Masters enrolment webpage for further information about re-enrolment, 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: 4 March 2025

Further information

Last updated: 4 March 2025