International

School of
Economics
Tendentes ad Excellentiam
 

Outline: International Economic Law

Course in English. BA program. Autumn Semester 2017

Instructor information: Arzu Hasanova

E-mail hasanovaarzu@yahoo.com
Mob. 050 246 87 54

Course description:

Multinational companies like Google or Apple self-evidently act on a global stage. But even small
businesses participate in international trade today. The integration of national economies and the
elimination of barriers of trade no longer allow a solely national view on this development. With the
growing importance of international commerce, the need for an „International Economic Law“ arises.
Numerous regulations and agreements concern international trade and investment, but the legal
framework of international economy remains indefinite.

In this course common principles of International Economic Law will be examined by analysing
leading decisions by international courts. Therefore a substantial part of the course will be dedicated to
class room discussion of cases and reading materials.

The aim of this course is to identify and analyse the sources and principles of International Economic
Law. Due to the interdisciplinary dimension of the subject, the course will address economic, political
and ethical aspects and different fields of law such as economic law, human rights and environmental
law. Students will gain a theoretical and practical understanding of the core branches of International
Economic Law, the underpinning institutional frameworks and dispute settlement mechanisms. The
course is aimed at introducing the students into the main topics of the global economic governance. The
course will focus on the general issues of international economic law as well as more specific issues
dealing with commercial transactions (especially within the World Trade Organization framework) and
international investment protection.
The fundamental concepts and problems of International Economic Law can be best understood in
mutually analytical discussions. Therefore, interactive methodology will be employed as a key teaching
instrument, where conceptual legal points both in the International Economic Law, also different kind of
theories will often be questioned in a critical way. In this regard, students are strongly welcomed to
actively take part in every session. Reading assigned materials is compulsory, and students are expected
to discus their content during the class. The purpose of classroom discussion is to develop analytical and
oral argument skills. It will also be important to develop the ability to listen carefully and to respond to
the arguments of others. To encourage the development of these skills, every student subject to being on
call will be expected to have read the assignment and to participate on the basis of these readings. In
addition, students will be asked to respond to the claims and arguments of others and occasionally to
provide counter arguments even when it is not an argument that you necessarily support.

Prerequisites

None

Topic Outline

1. Introduction and description of the course:

2. Sources of international economic law
3. International Trade law: Sales and Purchase Contracts. Wien Convention. Trade customs.
INCOTERMS 2010.
4. Legal Issues of International Transportation
5. International Intellectual Property Law
6. International Banking and Finance: Banking and anti money laundring.
7. Double taxation
8. Legal Regulation and protection of Investments. Public concerns
9. Legal Regulation of Foreign Direct Investment
10. Legal consequences and reparation in international investment law
11. WTO: the institutional settings. WTO: the normative principles and standards and WTO: dispute
settlement mechanisms
12. Resolving International Commercial Disputes: International Commercial Arbitration
13. International Monetary Law
14. International Competition Law

Prescribed Texts and Tutorials

The main textbook for this course:

- International economic law. Revised version 2006. S.P. Subedi

http://www.londoninternational.ac.uk/sites/default/files/international_economic_law.pdf
-
- Andreas Lowenfeld, International Economic Law, Second Edition, Oxford University Press, Oxford,
2008, Chapters 3 - 13 and 15 – 17;
- Andreas F. Rosenfeld (2008), International Economic Law, Oxford University Press, 2nd Revised
edition
- Matthias Herdegen (2013), Principles of International Economic Law, Oxford University Press

- The International Economic Law Revolution.  17 U. Pa. J. Int'l Econ. L. 33 (1996) 

- Tanzi, Cristani (eds.), International Investment Law and Arbitration: an Introductory Casebook,
CEDAM, 2013

- https://books.google.az/books?
hl=ru&lr=&id=1L3UpI7bM3IC&oi=fnd&pg=PR9&dq=Sources+of+international+economic+law&
ots=n86PWNVM3S&sig=YLzzLyLbRfEfI-B9IarfhB6tGjY&redir_esc=y#v=onepage&q=Sources
%20of%20international%20economic%20law&f=false
- https://books.google.az/books?
hl=ru&lr=&id=1xZ6qXWfzZYC&oi=fnd&pg=PR30&dq=Sources+of+international+economic+law
&ots=9K7Komwijl&sig=UXMs9GJm_le5Ymsi2hNvtiMKA6Q&redir_esc=y#v=onepage&q=Sourc
es%20of%20international%20economic%20law&f=false
- https://books.google.az/books?
hl=ru&lr=&id=1L3UpI7bM3IC&oi=fnd&pg=PR9&dq=Sources+of+international+economic+law&
ots=n86PWNVM3S&sig=YLzzLyLbRfEfI-B9IarfhB6tGjY&redir_esc=y#v=onepage&q=Sources
%20of%20international%20economic%20law&f=false
- https://books.google.az/books?
hl=ru&lr=&id=nACJ8Kk71ecC&oi=fnd&pg=PR9&dq=Sources+of+international+economic+law&
ots=g16bKPpy_O&sig=FoPeEbgFsyjBZn9o01URI4hmakY&redir_esc=y#v=onepage&q=Sources
%20of%20international%20economic%20law&f=false
- https://books.google.az/books?
hl=ru&lr=&id=1xZ6qXWfzZYC&oi=fnd&pg=PR30&dq=Sources+of+international+economic+law
&ots=9K7Komwijl&sig=UXMs9GJm_le5Ymsi2hNvtiMKA6Q&redir_esc=y#v=onepage&q=Sourc
es%20of%20international%20economic%20law&f=false

- https://books.google.az/books?
hl=ru&lr=&id=1xZ6qXWfzZYC&oi=fnd&pg=PR30&dq=Sources+of+international+economic+law
&ots=9K7Komwijl&sig=UXMs9GJm_le5Ymsi2hNvtiMKA6Q&redir_esc=y#v=onepage&q=Sourc
es%20of%20international%20economic
%20law&f=falsehttps://www.globalpolicy.org/component/content/article/213/45500.html
- https://books.google.az/books?
hl=ru&lr=&id=yTIUGdjATgEC&oi=fnd&pg=PA217&dq=+international+financial+institutions&ots=1
Gy5aw0bpd&sig=i84cgh90_dX3GeryOGWiTxPgAVw&redir_esc=y#v=onepage&q=international
%20financial%20institutions&f=false
- http://www.sciencedirect.com/science/article/pii/S0377221796003426
- http://www.humanrights
business.org/files/international_investment_agreements_and_human_rights.pdf
- https://academic.oup.com/ejil/article/17/3/623/2756262/The-Constitutions-of-the-WTO
- https://academic.oup.com/ejil/article/17/3/623/2756262/The-Constitutions-of-the-WTO
- https://academic.oup.com/ejil/article/17/3/623/2756262/The-Constitutions-of-the-WTO
- https://www.wilmerhale.com/uploadedfiles/shared_content/editorial/publications/documents/2014-
iba-guidelines-on-conflicts-of-interest-in-international-arbitration.pdf
- https://scholar.harvard.edu/files/bsimmons/files/LegalizationIntlMonetaryAffairs.pdf
- https://www.globalpolicy.org/component/content/article/213/45500.html

DETAILED TOPIC OUTLINE

WEEK TOPIC LECTURE PURPOSE / CONTENT

1 Introduction and
description of the course:
How do we define
international economic
law?
International economic
law: historical background
N1 Describe the basis of international economic law and
the history of economic development (From antiquity
to empires ; From empires to modern nation states ;
The aspirations of newly independent states)
Globalization and international economic law

2 Sources of international N2 Institutions;The UN and its specialised agencie;

economic law Convencions regulating international economic
relations
3/4 International Trade law: N3. N4 Describe the main features of Sale agreements. To
Sales and Purchase understand the importance of ‘Sales contract’ and
Contracts. Wien various ‘Incoterms’ and their effect on the contract
Convention. Trade and also to appreciate the concept of ‘Multimodal
transport’ with regards to ‘Liabilities and Insurance’.
customs. INCOTERMS Preferential Trade Agreements . The UNCITRAL
2010 Convention. Choice of law, dumping and if possible
Legal Issues of other international trade conventions or practices.
 International
Transportation
5 International Intellectual
 
Property Law
6 International Banking
and Finance:
Banking and anti money
laundring.
7 Double taxation
8  Legal Regulation and
protection of Investments.
Public concerns
9 Legal Regulation of
Foreign Direct Investment
10 Legal consequences and
reparation in international
investment law
11 WTO: the institutional
settings. WTO: the
normative principles and
standards and WTO:
dispute settlement
mechanisms
12/13 Resolving International
Commercial Disputes:
International Commercial
Arbitration
- UNCITRAL Arbitration
Rules.
- ICC Arbitration Rules
- WTO Dispute resolution
14 International Monetary
Law
Rome Convention 1980.
International transportation law
- via road
- via sea
- via air
- via railway
N5 Trade Related Aspects of Intellectual Property Rights
  (TRIPS).
Declaration on TRIPS agreement and public health
TRIPS Waiver of 2003
N6 Describe the current law and practice in the field of
banking law.Understanding Money Laundering,
Terrorist Financing and Sanctions. Offences of money
laundering Legal obligation to report suspicious
activity. Law and Regulation
N7 Double Taxation relief. Double taxation Agreements
(DTA) Nature and purpose of DTAs Manner of
giving relief from double taxation .Procedure for
availment of tax treaty benefits
N8 A history of international investment law from the
early days through to the advent of BITs in the 1990s.
Explains the development of international investment
law from the 1990s, including efforts to reach a
multilateral agreement & - importantly for the rest of
this paper – the dispute settlement system.
N9 Learn about the rules governing cross-border
investments and learn how to apply international trade
law provisions to cases / fact patterns
N10 The two sets of UNCTAD materials describe the key
elements of a) jurisdiction rationae materiae; and b)
jurisdiction personae.
To provide an overview of the national treatment
obligation. Defence of Necessity issues.
N11 The WTO: History, Structure and Future. WTO
Dispute Settlement. The WTO and Developing
Countries
N12/13 Domestic arbitration in the historical perspective.
Treaty frameworks: The UNCITRAL Model of law
Arbitration and its international responses . 2017
Arbitration rules and 2014 mediation rules. The nature
of WTO dispute settlement mechanism. The historical
development of DSMs. The levels of DSM (GATT
1994)
N14 To provide students with the concepts and models
that will be necessary to explain the basics of
monetary policy and the exchange rate determination
in the short and long run.
 15 International Competition N15 Learn about the legal aspects of international
Law competition in the US and EU contexts

Grading Method:

The students will be graded based on:

1. Three quizzes each being * 10 points

2. Independent project ** 10 points
3. Class attendance *** 10 points
4. Final exam 50 points

* One of the quizzes might at the discretion of the university changed onto in-class activity grade
** The projects are expected to be delivered in class session and in a group of two students and each
student will be expected to practice in two of such groups. The projects are expected to be analytical.
The descriptive projects shall be half graded. Please address to the professor if you need an explanation
of analytical and descriptive. The e-version of the project shall be given to the professor for presenting
to the Dean’s office.
***Maximum 10 mins accidental lateness will be tolerated.