International economic law is a field of international law that encompasses both the conduct of sovereign states, economic trade area such as EU in international economic relations and the conduct of private parties involved in cross-border economic and business transactions. This includes, among other things, international trade law, law of international financial and in particular economic and trade institutions (IMF, OECD, WB, WTO) and traditional private international law fields. Due to the interdisciplinary dimension of International Economic Law, we will address economic as well as political aspects and different fields of law such as economic law, human rights, environmental law, trade law. The lecture will provide an overview of the current issues with particular reference to the role of the main international organizations and institutions involved in the governance of the so called global economy and in the solution of the current economic and financial crisis. In addition, a substantial part of the course will be dedicated to class room discussion of reading materials and cases.
Expected learning outcomes
At the end of the course, a student should be able · to understand the international economic legal order as it operates; · to understand the relevant international economic law treaties; · to understand the phenomenon of international economic organizations · to demonstrate a deep understanding of the normative and empirical underpinnings of international economic law; · to demonstrate an ability to critically appraise international economic law.
The course provides the student with knowledge on the following topics: 1. The subjects of international economic law. 2. Rating agencies as new centers of international economic and financial power 3. The sources of international economic law and the evolution of the international economic legal order. 4. The economic summits (G7-G8- G20). Their organizational structure and decision-making process. 5. The International Monetary Fund (IMF): structure and objectives. The financial resources of the Fund. The financial assistance function and its evolution with respect to the economic and financial crisis. The proposals for reforming the Fund: the revision of the calculation system and the allocation of units. The IMF's response to the current crisis: limits and remedies. 6. The World Bank Group (BM): origins and objectives. Structure. Loan activity analysis. Financial resources. The World Bank inspection panel. The World Bank's answer to the current crisis: limits and remedies of its action. 7. The OECD and the Bank for International Settlements. 8. Problems of coordination between the international economic organizations and relations with the multilateral trading system GATT / WTO. 9 The Economic and Monetary Union (EMU) and the euro crisis. The European Semester, the Europlus Pact, the cd. Six pack, the European Stability Mechanism (MES), the Fiscal Compact Agreement, the cd. Two parcels. 10. The European Central Bank (ECB) and the intervention program to safeguard the European financial market and the action of the so-called economic "troika". 11. Towards the European Banking Union. 12. Towards a new definition of economic and monetary sovereignty. 13. The protection of economic and social human rights against the current economic crisis and neo-financial liberalism.
Prerequisites for admission
Lectures (42 hours), in classroom. Attendance is not mandatory but strongly encouraged. In classroom reflections and/ or practical exercises on case-studies will be organized.
For those who attend the lectures, the notes taken during classes are sufficient. For all the others, it is necessary to study a) ELENA SCISO, Appunti di diritto internazionale dell'economia, Giappichelli, Torino, 2017; b) GIULIO PERONI, La Crisi dell'Euro: limiti e rimedi dell'Unione economica e monetaria, Milano, Giuffrè editore, 2012, pp. VIII-210.
Assessment methods and Criteria
The final exam is oral. The students will be asked to answer to three open questions, which are organized as follows: the first one is a wide question, the second is a more specific one, the third one is a reflection on a case-study. Evalutation criteria: knowledge of the subject, mastery of language and ability to critically analyse the topic proposed in the reflection.