Problems of Market Regulation

URL study guide

https://studiegids.vu.nl/en/courses/2024-2025/R_LBFM

Course Objective

The aim of this course is to examine how the undesirable side-effects of free trade can be regulated without eliminating the beneficial consequences. It draws on psychological and economic literature as well as traditional legal sources concerning WTO and EU law. Environmental, climate and equality effects of trade are among the issues covered. At the end of the course a student will be able to critically evaluate current and proposed international trade regimes, identifying the weaknesses and consequences of the law. They will be able to show which scholarly critiques and theories are relevant, and which legal changes could be introduced to address problems. In short, they will be able to function as an international trade regulator or negotiator, or as an advisor who is aware of the issues raised by specific rules and regulatory choices.

Course Content

This course examines the side effects of international markets and trade and international trade agreements: how do they impact on society, well-being, sovereignty and democracy, the environment, and economic stability, and how can the law be used to manage this? Specific topics covered include i. use of environmental conditions in trade (fair trade brands and laws)
- WTO and EU law ii. the trilemma of trade, sovereignty and democracy iii. Regulatory competition, sorting, and the consequences of mobility of businesses and people iv. trade, wealth and the economics of happiness v. Consumer protection and free trade vi. Dysfunctional markets
- for example natural monopolies, or contracts vulnerable to abuse of power. The course is relevant to all those who are likely to work in fields involving international trade and investment, whether as regulators, negotiators, policy-makers or legal advisors to clients or NGOs.

Teaching Methods

Interactive lectures with much discussion

Method of Assessment

Written assignments (100%) and compulsory video presentation

Literature

Reading material will announced and where appropriate made available viaCanvas.

Target Audience

This course is suitable for masters and exchange students who will beinvolved with international trade and business and are interested inunderstanding its social, environmental, economic and psychological consequences and effects, and how these can be managed. It is open to all masters and exchange students, including those in the International Business Law (IBL) masters and those on the European and International Law (EIL) specialisation of the LLM.