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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

Former School/College

Former School of Law and Justice

Pre-requisites

(LAW00503 Contract Law) OR (LAW10001 - Contract Law I AND LAW10003 - Contract Law II)

Unit aim

Addresses the evolution of the legal regimes in international trade and development. Examines the basic legal structure of World Trade Organization (WTO), including the General Agreement on Tariffs and Trade (GATT) and other agreements, and will consider the development of regional trade agreements, including the European Union (EU) and the North American Free Trade Agreement (NAFTA), and the USA-Australian free trade agreement. Students will consider dispute settlement mechanisms under these regimes. The course will also examine the legal structures of the World Bank and the International Monetary Fund (IMF). Students will consider financial market, policy and legal changes that have altered the mandate and effectiveness of these institutions in recent decades.

Unit content

  1. The breakdown of trade during the Great Depression, the instability of currencies, social and political unrest, and war.
  2. Rebuilding the international trading system at the end of World War Two; the creation of the IMF, the World Bank, the GATT system and the Marshall Plan.
  3. The golden years of post-war prosperity, and decolonisation of the Third World.
  4. Proposals for a New International Economic Order, including the United Nations Conference on Trade and Development.
  5. The rise of the Washington Consensus and the hegemony of the dollar.
  6. The Roaring 1990s and aftermath: trade liberalisation, the World Trade Organization and the rise of China;
  7. the rise of regional trading blocs, NAFTA and the European Union;
  8. the USA-Australian free trade agreement;
  9. the rise of hot money portfolio capital flows and the instability of global finance.
  10. The crash of 2008 and the crisis in global trade and finance.

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 Demonstrate an understanding of the legal structures of international trade organisations Intellectual rigour
2 Demonstrate an understanding of international world banking organisations and their legal structures and frameworks Knowledge of a discipline
3 Analyse the legal and policy changes that have impacted on world trade Lifelong learning

On completion of this unit, students should be able to:

  1. Demonstrate an understanding of the legal structures of international trade organisations
    • GA1: Intellectual rigour
  2. Demonstrate an understanding of international world banking organisations and their legal structures and frameworks
    • GA4: Knowledge of a discipline
  3. Analyse the legal and policy changes that have impacted on world trade
    • GA5: Lifelong learning