WTO and Investment Law
Core Course
This course covers the basics of international trade and investment law, which are of vital importance for a business lawyer in the 21st century. To start with, the institutional, procedural as well as substantive WTO rules are discussed. Attention is paid to the “constitution” of the WTO, its structure, rules on dispute settlement, and the main substantive rules laid down in WTO, such as the prohibition on discrimination and (non-)tariff barriers. We will also examine the general and security exceptions, economic emergency exceptions and exceptions for regional trade agreements. The final section of this part of the course briefly touches upon rules and practices relating to dumping, subsidies and countervailing measures, as well as rules regarding the harmonization of national regulation in the context of sanitary and phytosanitary measures, and technical barriers to trade.
The second part of the course focuses on the rules regarding international investment protection. Here we will look into the sources of international investment law as well as the scope of the protected categories of ‘investments’ and ‘investors’. This is followed by an analysis of the substantive protection: the prohibition on expropriation without compensation and other standards of host State behaviour. From a business perspective, the attraction is that –contrary to the international trade framework which is intergovernmental in nature— private parties have direct access to an international dispute settlement mechanism. At the same time, civil society is becoming increasingly concerned about the impact of so-called Investor-State Dispute Settlement on the policy space of governments (e.g., regarding public health and environmental regulation).
In 2009, the EU received important new powers over international investment, in additional to international trade. The European institutions and the Member States are now grappling with the question how international trade and international investment rules as well as sustainable development goals are to be reconciled in a new generation of international economic agreements. The course addresses these questions as well.
Course Objectives:
Objectives of the course:
A key objective of the course is to enable students to understand how transborder trade and investment are protected under international law. This is a matter of gaining knowledge of positive law. Another objective of the course is to give students an insight into certain policy debates about current rules– and to see which reform proposals are being discussed. Another theme addressed in the course is whether and how private stakeholders (businesses, NGOs) can rely on intergovernmental trade and investment rules.
Achievement levels:
Course Objectives:
Objectives of the course:
A key objective of the course is to enable students to understand how transborder trade and investment are protected under international law. This is a matter of gaining knowledge of positive law. Another objective of the course is to give students an insight into certain policy debates about current rules– and to see which reform proposals are being discussed. Another theme addressed in the course is whether and how private stakeholders (businesses, NGOs) can rely on intergovernmental trade and investment rules.
Achievement levels:
The following achievement levels apply with regard to the course:
Knowledge and comprehension:
Being familiar with basic trade and investment law rules and concepts.
Application:
Being able to apply these rules and concepts to actual cases. Understanding some of the major controversies and policy discussions concerning these rules.
Analysis:
Students should gain a working knowledge of the main international treaty rules on trade and investment, with an understanding of the underlying policy objectives.
Presentation:
Students should demonstrate that they are capable of applying international trade and investment law to policy questions and hypothetical cases studies.
Programme Final Qualifications
The following learning outcomes apply with regard to the course:
P.F.Q. = 2, 4, 5, 6 & 8
Mode of Instruction:
Students are expected to attend 4 interactive lectures, 3 case study seminars and 3 presentation sessions. For every lecture, students have to review the mandatory reading listed on Blackboard and be prepared to discuss these materials in class. For every case study seminar students have to review the relevant materials which form the basis of the case study in preparation of the exam case studies. For each presentation session, students have to review the materials relevant to the policy reform that will be debated.
Topics to be addressed in lecture 1: International Trade and the Law of the World Trade Organisation (WTO), the WTO Dispute Settlement System, Most-Favoured-Nation Treatment and National Treatment
Topics to be addressed in lecture 2: Tariff Barriers and Non-Tariff Barriers, General and Security Exceptions; Economic Emergency Exceptions and Regional Trade Exceptions; Dumping and Subsidies; Rules Regarding Harmonisation of National Regulations
Seminar (a): Case studies for exam preparation (focus on WTO law)
Topics to be addressed in lecture 3: Introduction and Sources of International Investment Law; Definitions of ‘Investor’ and ‘Investment’
Topics to be addressed in lecture 4: Expropriation, Standards of Host State Behaviour; Settlement of Investment Disputes; The Future of International Investment Law
Seminar (b): Case studies for exam preparation (focus on investment law)
Presentation session (i)
Presentation session (ii)
Presentation session (iii)
Seminar (c): Case studies for exam preparation (WTO and investment law)
Assessment Method(s):
50% of the students’ grade will be determined based on an in-class presentation concerning a particular policy reform question.
50% of the students’ grade will be determined based on a written in-class exam consisting of a hypothetical case study.
Students who pass both components, or, who fail one component but obtain an overall passing grade, will not be allowed a retake to obtain a higher grade.
Students who do not obtain an overall passing grade, will have to do a retake.
Reading List:
In addition to consulting the materials listed as required (and recommended) reading on Bright Space, the students need to purchase two books:
For the trade part of the course: The Law and Policy of the World Trade Organisation, Text, Cases and Materials by Peter Van den Bossche & Werner Zdouc (5th edition, Cambridge University Press, 2021).
For the investment part of the course: International Investment Law – Text, Cases and Materials by Krista Nadakavukaren Schefer (3rd edition, Edward Elgar, 2020)
**Disclaimer:
Currently these pages are being updated to reflect the courses for 2025 - 2026. Until these pages are fixed as per 1 September 2025 no rights can be claimed from the information which is currently contained within. Should there be any future extenuating circumstances which may impinge our teaching and assessment, these could necessitate modification of the course descriptions after 1 September. This will only happen in the event of strict necessity and the interests of the students will be taken into account. Should there be a need for any change during the course, this will be informed to all students on a timely basis. Modifications after 1 September 2025 may only be done with the approval and consent of the Faculty Board and Programme Director.