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The Law and Economics of Globalisation (LAWS90251)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
April
Lecturer
James Munro (Coordinator)
Stela Rubínová (Senior Fellow)
Email: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | April |
|---|---|
| Fees | Look up fees |
This subject examines the law and economics of globalisation. Economic globalisation is at the centre of ongoing debates in areas as diverse as sustainability and climate change, national security, fair and balanced economic growth, and the very restructuring of international relations that seems to be underway. This subject offers a sophisticated understanding not only of contemporary globalisation, but also the reactionary trends that continue to emerge in varied forms: so-called ‘trade wars’ between major economies, unilateral climate measures, restrictions on trade in critical technology like semiconductors or 5G, concerns around forced labour or weak environmental standards, concerns around data protection and cybersecurity in the new digital economy, repatriating foreign supply-chains to the domestic economy, concerns around currency undervaluation by export-driven States, and issues around the so-called ‘State-led’ capitalist model in economies like China. We offer a detailed analysis of these phenomena and how States are using existing and new legal instruments to manage the risks and impacts of globalisation as it evolves and adapts in this new environment. The course caters both to practitioners looking to build expertise in the highly commercially-relevant areas of trade remedies and export controls, as well as to those looking to deepen their understanding of the modern dynamics of globalisation and its intersection with law.
The subject begins with an overview of economic impacts of trade liberalisation and lays out why there are winners and losers. It proceeds with a discussion of current trends in globalisation and relates them to the evolving geopolitical context. It then examines the legal instruments available to States to manage economic pressures resulting from increased globalisation and to counter (potentially) trade-distorting practices of their trade partners. These include the existing legal instruments at the international level under the WTO treaties, such as anti-dumping/anti-subsidy measures and safeguards, as well as more recent innovations at the domestic level relating to matters like currency undervaluation, cybersecurity and “data sovereignty”, transnational subsidies, foreign investment screening, differences in environmental/labour standards, and distortions arising from economies and sectors with substantial government involvement.
The compatibility of such innovations with WTO and other international rules is untested and, accordingly, this course does not express views on the “right” answers. Rather, it seeks to equip students with the knowledge to form their own views and to facilitate their own understanding of possible intersections between these domestic innovations and international rules.
The principal substantive topics that will be addressed in this subject will include:
- The economic rationale behind international trade agreements, the economic benefits of globalisation, the distributional impacts of trade liberalisation, and the role of regulatory frameworks that facilitate adjustment to international competition;
- Current issues in global economic relations and trade policy, and the reasons States resort to legal instruments to manage risks or negative impacts of globalisation, such as concerns around unfair trade practices; an evolving geopolitical context; supply-chain resilience; and "global commons"- and related issues such as climate change.
- The primary legal instruments that States use to address negative economic impacts of trade liberalisation, particularly the ‘trade remedy’ tools under the WTO treaties (anti-dumping, anti-subsidy, and safeguard measures), as well as recent domestic innovations with these tools in areas like transnational subsidies and currency manipulation;
- New and emerging legal tools at the domestic level in jurisdictions like the EU, US, Australia and India to manage perceived geopolitical risks and impacts of globalisation, such as:
- national security concerns around supply chains and critical products
- cybersecurity and data protection in the new digital economy;
- foreign investment screening;
- lower environmental/labour standards; and
- concerns around forced labour.
Intended learning outcomes
A student who has successfully completed this subject should be able to:
- Explain the economic rationale behind international trade agreements, the economic benefits of globalisation, the distributional impacts of trade liberalisation and the role of policy coherence
- Apply knowledge of the existing legal instruments at the international level to address certain economic impacts of trade liberalisation, especially the "trade remedy" tools under the WTO treaties; and justify the economic rationales underlying these tools
- Analyse and contextualise current issues in global trade and trade policy, and why States are innovating with new legal tools for addressing these issues
- Identify and examine new and emerging legal tools at the domestic level for addressing trade distortions.
Generic skills
- Have the communication skills to articulate and convey complex information regarding globalisation to relevant specialist and non-specialist audiences
- Be an engaged participant in debate regarding controversies surrounding the fallout of globalisation and reactionary trends
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal issues relating to international trade and investment
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of trade remedies law
- Be able to critically examine, analyse, interpret and assess the effectiveness of these legal rules
- Be able to interpret and apply, at an advanced level, certain key WTO agreements, including advocating a particular position in a given hypothetical, potential or past case
- Have the cognitive and technical skills to generate creative and critical ideas relating to international trade and investment, particularly in view of the current geopolitical challenges generally, as well as specific competitiveness-concerns relating to the environment (climate change), labour, national security, and State-led capitalist models, and be able to develop their own thinking in light of the descriptive and factual nature of the subject.
Last updated: 18 March 2024
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: 18 March 2024
Assessment
April
| Description | Timing | Percentage |
|---|---|---|
Class participation | Throughout the teaching period | 15% |
Take-home examination
| 29 May - 5 June 2024 | 85% |
| Hurdle requirement: A minimum of 75% attendance is required. | N/A |
Last updated: 18 March 2024
Quotas apply to this subject
Dates & times
- April
Principal coordinator James Munro Mode of delivery On Campus (Parkville) Contact hours Total time commitment 150 hours Pre teaching start date 6 March 2024 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 3 April 2024 to 9 April 2024 Last self-enrol date 11 March 2024 Census date 4 April 2024 Last date to withdraw without fail 10 May 2024 Assessment period ends 5 June 2024 April contact information
Lecturer
James Munro (Coordinator)
Stela Rubínová (Senior Fellow)
Email: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
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
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: 18 March 2024
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:
Type Name Course Master of Laws - 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: 18 March 2024