International economic law
A.A. 2018/2019
Obiettivi formativi
The international economic law course focuses on three major sectors relating to the legal dimension of the economic relationships among States namely 1) trade law, 2) investment law, 3) financial law. These three areas are examined through the prism of the two main approaches that are currently interacting within the international realm, that is multilateralism and preferentialism. The objective of the course is to illustrate and discuss the similarities and differences between these two approaches, especially by looking at the policies enhanced by the European Union (EU).
Risultati apprendimento attesi
Non definiti
Periodo: Secondo trimestre
Modalità di valutazione: Esame
Giudizio di valutazione: voto verbalizzato in trentesimi
Corso singolo
Questo insegnamento non può essere seguito come corso singolo. Puoi trovare gli insegnamenti disponibili consultando il catalogo corsi singoli.
Programma e organizzazione didattica
Edizione unica
Responsabile
Periodo
Secondo trimestre
STUDENTI FREQUENTANTI
Programma
Unit I: International trade law
The analysis of the rules governing multilateral and preferential trade relations will be based on the relevant case law concerning their interpretation and application. Particular regard will be given to landmark cases of WTO panels and the Appellate Body.
- Multilateral and Preferential Approaches in International Economic Law;
- Customs obstacles to trade under WTO law and in PTAs (US-China trade war);
- The principle of non-discrimination in WTO law and in PTAs (CETA);
- The equilibrium between trade liberalization and other societal values and interests (GATT case Thailand - Cigarettes; WTO cases US-Shrimp and EC - Preferences; US tariffs and steel and aluminum);
Unit II: International investment law
The analysis of the rules governing the promotion and protection of foreign investment will be based on the relevant case law concerning their interpretation and application. Regard will be given, in particular, to landmark cases of (ICSID or ad hoc) arbitral tribunals.
- Scope and rationale of IIL. History and evolution; the recalibrated approach of the EU to investment protection;
- Investment and Investor: definitions and case studies; main standards of protection (ICSID cases Fedax, Salini and Malaysian Historical Salvors; ICSID cases on fair and equitable treatment);
- The expropriation of foreign investment (ICSID cases)
- Non-economic concerns in IIL and the right to regulate (ICSID case Philip Morris v. Australia; CETA)
- Investor-State Dispute Settlement and its reform.
Unit III: International financial law
This part of the course will focus on the interrelationship between financial integration and financial stability under an international economic law perspective.
- IFL: The liberalization of international capital movements under international economic law;
- IFL: financial stability in IMF financial assistance and the policy of conditionality; financial stability under EU law (ESM Treaty)
- Financial and sovereign debt crisis under international investment law (ICSID cases: jurisdiction issues - Ping An v. Belgium, Abaclat v. Argentina, Poštová Banka v. Greece, Marfin v. Cyprus; substantive issues - Abaclat v. Argentina);
- The protection of financial stability under international trade law (WTO case Argentina - Financial Services)
The analysis of the rules governing multilateral and preferential trade relations will be based on the relevant case law concerning their interpretation and application. Particular regard will be given to landmark cases of WTO panels and the Appellate Body.
- Multilateral and Preferential Approaches in International Economic Law;
- Customs obstacles to trade under WTO law and in PTAs (US-China trade war);
- The principle of non-discrimination in WTO law and in PTAs (CETA);
- The equilibrium between trade liberalization and other societal values and interests (GATT case Thailand - Cigarettes; WTO cases US-Shrimp and EC - Preferences; US tariffs and steel and aluminum);
Unit II: International investment law
The analysis of the rules governing the promotion and protection of foreign investment will be based on the relevant case law concerning their interpretation and application. Regard will be given, in particular, to landmark cases of (ICSID or ad hoc) arbitral tribunals.
- Scope and rationale of IIL. History and evolution; the recalibrated approach of the EU to investment protection;
- Investment and Investor: definitions and case studies; main standards of protection (ICSID cases Fedax, Salini and Malaysian Historical Salvors; ICSID cases on fair and equitable treatment);
- The expropriation of foreign investment (ICSID cases)
- Non-economic concerns in IIL and the right to regulate (ICSID case Philip Morris v. Australia; CETA)
- Investor-State Dispute Settlement and its reform.
Unit III: International financial law
This part of the course will focus on the interrelationship between financial integration and financial stability under an international economic law perspective.
- IFL: The liberalization of international capital movements under international economic law;
- IFL: financial stability in IMF financial assistance and the policy of conditionality; financial stability under EU law (ESM Treaty)
- Financial and sovereign debt crisis under international investment law (ICSID cases: jurisdiction issues - Ping An v. Belgium, Abaclat v. Argentina, Poštová Banka v. Greece, Marfin v. Cyprus; substantive issues - Abaclat v. Argentina);
- The protection of financial stability under international trade law (WTO case Argentina - Financial Services)
Informazioni sul programma
The course is organized into three parts. Part I covers the fundamental legal issues of the multilateral trading system under the World Trade Organization and compares the multilateral approach towards international trade regulation with the approach adopted, among others, by the EU in recent free trade agreements, notably the Comprehensive Economic and Trade Agreement (CETA) with Canada. Part II is devoted to international investment law where the tension between multilateralism and preferentialism is also reflected in the investment chapters of new free trade agreements, including the CETA, with regard to both the substantive provisions on investment protection and dispute settlement provisions. Part III deals with international monetary and financial law from the same perspective of the dichotomy/interaction between the multilateral dimension (focused on the International Monetary Fund) and the preferential/regional one (European instruments, such as the European Stability Mechanism).
The programme for non-attending students is mainly focused on the multilateral instruments on international cooperation on trade, investment, and finance.
The programme for non-attending students is mainly focused on the multilateral instruments on international cooperation on trade, investment, and finance.
Prerequisiti
No prerequisite in needed. However, a basic knowledge in International Economics and International or European Law is highly recommended.
The final exam is written, and it consists in three open questions covering the three units of the course. The purpose is to assess students' capacity to investigate economic issues from a legal perspective, to appraise their ability in analysing trade, investment and financial issues according to international and EU law tools. Particular attention is given to the proper use of legal lexicon.
The final exam is written, and it consists in three open questions covering the three units of the course. The purpose is to assess students' capacity to investigate economic issues from a legal perspective, to appraise their ability in analysing trade, investment and financial issues according to international and EU law tools. Particular attention is given to the proper use of legal lexicon.
Metodi didattici
The teaching method will be based on frontal lessons. Active participation of attending students is expected. Materials will be delivered in advance, and students will be requester to make presentations. The syllabus, the scheduled students' presentations and the materials will be uploaded on the Ariel website of the course.
Materiale di riferimento
STUDENTI NON FREQUENTANTI
M. HERDEGEN, Principles of international economic law, Oxford, Oxford University Press, 2016: chapters 11-14, 19 and 23 (International trade law); chapters 31-35 (International investment law); chapters 38-39 and 41-42 (International financial law).
The programme of the exam will also include the materials uploaded on the Ariel website of the course.
The programme of the exam will also include the materials uploaded on the Ariel website of the course.
Programma
- Contents, history and structure of international economic law
- International economic law as an order of principles and rules
Unit I: International trade law
- World trade law and regional trade agreements
- History and development of world trade law; the World Trade Organization; the multilateral and the plurilateral agreements on trade
- The General Agreement on Tariffs and Trade 1994
- The agreements on sanitary and phytosanitary measures (SPS) and on technical barriers to trade (TBT)
- The General Agreement on Trade in Services (GATS)
- Subsidies and anti-dumping measures
- Dispute settlement in the WTO
- The regional integration of markets
Unit II: International investment law
- Foreign investment in practice
- Customary international law
- Concessions and investment: agreements between states and foreign companies
- Treaties on investment protection
- The International Centre for Settlement of Investment Disputes
- Multilateral Investment Guarantee Agency
Unit III: International financial law
- International monetary law and international economic relations
- The International Monetary Fund: objectives, organization, and functions
- The World Bank and other international financial institutions
- Debt crises and State insolvency
- International regulation of the banking sector
- International economic law as an order of principles and rules
Unit I: International trade law
- World trade law and regional trade agreements
- History and development of world trade law; the World Trade Organization; the multilateral and the plurilateral agreements on trade
- The General Agreement on Tariffs and Trade 1994
- The agreements on sanitary and phytosanitary measures (SPS) and on technical barriers to trade (TBT)
- The General Agreement on Trade in Services (GATS)
- Subsidies and anti-dumping measures
- Dispute settlement in the WTO
- The regional integration of markets
Unit II: International investment law
- Foreign investment in practice
- Customary international law
- Concessions and investment: agreements between states and foreign companies
- Treaties on investment protection
- The International Centre for Settlement of Investment Disputes
- Multilateral Investment Guarantee Agency
Unit III: International financial law
- International monetary law and international economic relations
- The International Monetary Fund: objectives, organization, and functions
- The World Bank and other international financial institutions
- Debt crises and State insolvency
- International regulation of the banking sector
Materiale di riferimento
M. HERDEGEN, Principles of international economic law, Oxford, Oxford University Press, 2016: chapters 1-10 (Introduction); chapters 11-17, 19-20 and 23 (International trade law); chapters 31-36 (International investment law); chapters 38-42 (International financial law).
Docente/i
Ricevimento:
Martedì dalle 16 alle 19, su appuntamento
Teams o Dipartimento di studi internazionali, giuridici e storico-politici, III piano, stanza 29.