International Economic Law

A.Y. 2020/2021
6
Max ECTS
40
Overall hours
SSD
IUS/13
Language
English
Learning objectives
The international economic law course focuses on three major areas of international economic relations, namely trade, foreign investments, and currency arrangements. The purpose of the course is to open students to the legal analysis, offering them the tools for a proper understanding of the rationale and content of relevant treaties and other international law rules. Accordingly, the course will complement other courses included in the master programme, addressing international economic relations from the perspective of the political, economic or historical analysis.
International trade law, interntional investment law and international monetary law are examied through the prism of multilateral cooperation and of the more recent preferential agreements. The aim is to illustrate and discuss the similarities and differences between these two approaches, focusing in particular on relevant policies of the European Union.
Expected learning outcomes
Students will acquire an overall knowledge of the most fundamental concepts of public international law. They will be able to apply them to the realm of economic relations, in view of understanding the legal dynamics of inter-State relations in trade, financial and monetary matters and improving their ability to contextualize their economic and political implications.
Course syllabus and organization

Single session

Responsible
Lesson period
Second trimester
Classes will start on January 12, 2021, and will be held on Microsoft teams (code:
jj37kho) on Tuesday and Wednesday, from 12.30 to 14.30
The teaching materials discussed during classes are published on the Ariel website of the course (https://gadinolfiiel.ariel.ctu.unimi.it)
The Syllabus will be published on the Ariel website ("Bacheca"). It provides information over the topics discussed during classes and the teaching materials.
Students are kindly invited to read the chapter before classes, so as to be participate actively, ask questions, raise comments and points of discussion.
Course syllabus
Multilateral and Preferential Approaches in International Economic Law;

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.

- Customs obstacles to trade under WTO law and in PTAs;
- The principle of non-discrimination in WTO law and in PTAs;
- The equilibrium between trade liberalization and other societal values and interests under the law of the WTO;
- Covid-19 and International Trade Law

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;
- The expropriation of foreign investment;
- Non-economic concerns in IIL and the right to regulate;
- Investor-State Dispute Settlement and its reform.
- Covid-19 and International Investment Law

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.

- Financial integration: The liberalization of international capital movements under international economic law between multilateral and regional regimes;
- Financial stability: the pursuit of financial stability under the law of the International Monetary Fund and within the European Union (the Stability and Growth Pact and the European Stability Mechanism);
- Approaches in the settlement of sovereign debt crisis: institutional vs contractual approaches;
- Covid-19 and International Financial Law.
Prerequisites for admission
No prerequisite is needed. However, a basic knowledge in International Economics and International and/or European Law is highly recommended
Teaching methods
The teaching method is based on frontal lessons. For each topic covered by the course, lessons will focus on: a) the political background; b) the relevant legal regime and the challenges raised by its interpretation, application and enforcement; c) specific case studies and case law. Active participation by students is expected.
The syllabus and the teaching materials will be uploaded on the Ariel website of the course (gadinolfiiel.ariel.ctu.unimi.it).
Teaching Resources
D. COLLINS, Foundations of international economic law, Cheltenham/Northampton, Edward Elgar Publishing, 2019:
Introduction, chapter 1;
International trade law, chapters 2-5;
International investment law, chapters 6-8.

R. LASTRA, International Monetary and Financial Law (2nd ed.), Oxford, Oxford University Press, 2015 (e-book: available on https://www.sba.unimi.it (Explora)):
Part II (Developments at EU level), chapter 8 (Economic governance);
Part III (Developments at the International level), chapter 12 (History of international monetary cooperation), chapter 13 (The Law of the International Monetary Fund) and chapter 14 (International Financial Architecture).

The programme of the exam will also include the materials uploaded on the Ariel website of the course.
Assessment methods and Criteria
The final exam is written, and it consists in three open questions covering the three units of the course. The purpose is to appraise students' capacity to investigate economic issues from a legal perspective, in particular 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.
IUS/13 - INTERNATIONAL LAW - University credits: 6
Lessons: 40 hours
Professor(s)
Reception:
Thursday (4-7 p.m.) by Skype (giovanna.adinolfi).
Reception:
Tuesdays 16-19
Dipartimento di studi internazionali, giuridici e storico-politici, Via conservatorio 7, Third floor, Room 27