International Economic Law
A.Y. 2024/2025
Learning objectives
The international economic law course focuses on the main areas of international economic relations, namely trade, foreign investments, currency arrangements and business and human rights. 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, international investment law, international monetary law, and business and human rights law are examined through the prism of multilateral cooperation, including the relevant policies of the European Union.
International trade law, international investment law, international monetary law, and business and human rights law are examined through the prism of multilateral cooperation, including the relevant policies of the European Union.
Expected learning outcomes
At the end of the course, students will be able to: 1) gain an overall knowledge of the most fundamental concepts of public international law; 2) apply them to the realm of economic relations, in view of understanding the legal dynamics of inter-State relations in trade, investment, financial and business and human rightsmatters and improving their ability to contextualize their economic and political implications; 3) develop autonomy of judgement and learning skills in the subject matter of the course; 4) master the correct terminology of international economic law.
Lesson period: Third trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Lesson period
Third trimester
Course syllabus
The course is structured in three units:
Unit I: International Trade Law
- The WTO framework
- Customs obstacles to trade under WTO law;
- The principle of non-discrimination in WTO law;
- The equilibrium between trade liberalization and other societal values and interests under the law of the WTO;
Unit II: International Investment Law (IIL)
- Scope and rationale of IIL. History and evolution;
- 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.
Unit III:
Unit III.A) Business & Human Rights (B&HRs) Law
- Scope and basic concepts of B&HRs law
- Analysis of the main instruments on B&HRs: the 2011 OECD Guidelines for Multinational Enterprises and the 2011 UN Guiding Principles of B&HRs; the negotiation of the first binding international instrument on B&HRs and the EU directive on mandatory due diligence and corporate accountability
Unit III.B) International Financial Law
- The International Monetary Fund: objectives, organization, and functions
- The World Bank and other international financial institutions
Unit I: International Trade Law
- The WTO framework
- Customs obstacles to trade under WTO law;
- The principle of non-discrimination in WTO law;
- The equilibrium between trade liberalization and other societal values and interests under the law of the WTO;
Unit II: International Investment Law (IIL)
- Scope and rationale of IIL. History and evolution;
- 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.
Unit III:
Unit III.A) Business & Human Rights (B&HRs) Law
- Scope and basic concepts of B&HRs law
- Analysis of the main instruments on B&HRs: the 2011 OECD Guidelines for Multinational Enterprises and the 2011 UN Guiding Principles of B&HRs; the negotiation of the first binding international instrument on B&HRs and the EU directive on mandatory due diligence and corporate accountability
Unit III.B) International Financial Law
- The International Monetary Fund: objectives, organization, and functions
- The World Bank and other international financial institutions
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 didactic method combines traditional approach (lecturing by the Professor and content-oriented classes) with innovative pedagogy methodologies, entailing a high level of interaction among participants. Interactive methodologies include:
(1) Case studies and case law ("Zoom-in")
(2) WTO law and investment law trials simulation ("Mock trials")
(3) informed class discussions ("Students in the Spotlight"). To ensure a high quality of class discussion, students are recommended to read the assigned materials in advance of each class. For each set of classes, a group of students will be "in the spotlight" for that specific set of classes. This means that the class discussion questions will be directed especially to these students , although other students may also voluntarily participate in class discussion.
Active participation by students is highly expected and is part of the evaluation (see assessment methods, above). Precise information on interactive activities will be provided at the beginning of the course and posted on the Ariel course page.
(1) Case studies and case law ("Zoom-in")
(2) WTO law and investment law trials simulation ("Mock trials")
(3) informed class discussions ("Students in the Spotlight"). To ensure a high quality of class discussion, students are recommended to read the assigned materials in advance of each class. For each set of classes, a group of students will be "in the spotlight" for that specific set of classes. This means that the class discussion questions will be directed especially to these students , although other students may also voluntarily participate in class discussion.
Active participation by students is highly expected and is part of the evaluation (see assessment methods, above). Precise information on interactive activities will be provided at the beginning of the course and posted on the Ariel course page.
Teaching Resources
Units I and II:
D. COLLINS, Foundations of international economic law, Cheltenham/Northampton, Edward Elgar Publishing, 2019 (available on https://www.sba.unimi.it):
Introduction, chapter 1;
International trade law, chapters 2-3-4 (pp. 86-89)-5(pp. 101-110);
International investment law, chapters 6-7-8.
Unit III:
Unit III.A:
Research handbook on global governance, business and human rights / edited by Axel Marx, Geert Van Calster, Jan Wouters / with Kari Otteburn, Diana Lica (available on https://www.sba.unimi.it). Chapters: 2 (sections 1-2), 6, 11,
together with the text of the main B&HRs instruments available on Ariel.
Unit III.B:
D. COLLINS, Foundations of international economic law, Cheltenham/Northampton, Edward Elgar Publishing, 2019: chapters 9-10
The programme of the exam will also include the materials uploaded on the MyAriel website of the course. For attending students, specific attention is given to the case studies discussed during classes.
D. COLLINS, Foundations of international economic law, Cheltenham/Northampton, Edward Elgar Publishing, 2019 (available on https://www.sba.unimi.it):
Introduction, chapter 1;
International trade law, chapters 2-3-4 (pp. 86-89)-5(pp. 101-110);
International investment law, chapters 6-7-8.
Unit III:
Unit III.A:
Research handbook on global governance, business and human rights / edited by Axel Marx, Geert Van Calster, Jan Wouters / with Kari Otteburn, Diana Lica (available on https://www.sba.unimi.it). Chapters: 2 (sections 1-2), 6, 11,
together with the text of the main B&HRs instruments available on Ariel.
Unit III.B:
D. COLLINS, Foundations of international economic law, Cheltenham/Northampton, Edward Elgar Publishing, 2019: chapters 9-10
The programme of the exam will also include the materials uploaded on the MyAriel website of the course. For attending students, specific attention is given to the case studies discussed during classes.
Assessment methods and Criteria
The final exam is written, and it consists in open and multiple-choice questions covering the three units of the course (notion-based questions and scenario-based questions to be analyzed). The purpose is to appraise students' capacity to investigate economic issues from a legal perspective, in particular their ability in analysing trade, investment, financial and B&HRs issues, according to international and EU law. Particular attention is given to the proper use of legal lexicon.
The active participation of attending students in interactive learning activities will be evaluated and taken into account. Precise information on interactive activities will be provided at the beginning of the course and posted on the MyAriel course page.
The active participation of attending students in interactive learning activities will be evaluated and taken into account. Precise information on interactive activities will be provided at the beginning of the course and posted on the MyAriel course page.
IUS/13 - INTERNATIONAL LAW - University credits: 6
Lessons: 40 hours