International Economic Law

International Economic Law has been taught on the BCL/MJur in Oxford since 2003. The course introduces students to the principles and institutions of international economic law and focuses primarily on the institutions and substantive law of the World Trade Organisation (WTO), including notably the WTO dispute settlement mechanism and its substantive jurisprudence, but the course also considers, in briefer fashion, central key aspects of international investor-State arbitration (IIA).

The course considers the law contained in the main WTO Agreements, including those dealing with goods (GATT), services (GATS), the environment, subsidies, and other WTO agreements that are indispensable for a knowledge of the theory and practice (by governments, corporations, NGOS, and lawyers) of the subject area. In addition to introducing participants to the major legal disciplines under the GATT/WTO and the basic principles and cores concepts of the GATT/WTO (based on in-depth study of the relevant GATT/WTO case law), the course considers the underlying philosophy of free trade and a number of the controversies concerning the future evolution of the WTO and its relationship to globalisation, regionalism, and the attempt by States to achieve other policy objectives (such as protection of the environment). 

WTO dispute settlement and investor-State arbitration have been by far the most widely used – and in many respects most successful – mechanisms of international dispute settlement that have ever existed. The IEL course involves a focus on both mechanisms, but also provides a deeper understanding by situating them within the context of the substantive law which both mechanisms apply. 

Assessment is by way of an examination.