Governments pass laws to regulate the domestic banking sector or supervise securities markets. Similarly, governments negotiate international rules governing banks, foreign direct investment, and trade. In short, the process of negotiating and implementing legal rules is intimately connected to politics. This course offers the opportunity to learn how politics shapes the legal rules governing banks, stock markets, debt, trade, and investment. For example, we will examine the politics underpinning the Basel III Banking Accords, the politics involved in investor-state dispute settlement processes, and the politics on international rules concerning trade-finance. In this context, the course discusses the ethical and moral dilemmas implicit in finance. Should multinational corporations be allowed to sue governments if they pass environmental laws that undermine the company’s profitability? Should bondholders sue the Argentinean government for repayment even if this might limit social welfare policies? This course is intended for students interested in law, business, and politics. Students will gain a fundamental understanding of the relationship between domestic and international law and how political dynamics connect both dimensions.

Introducing participants to the rationales and main elements of financial regulation, so that they understand the ‘why’, ‘how’ and ‘who’, regardless of what concrete regulatory issue they will be looking at in the future.

• Exploring trade offs involved when regulating finance and trade and examine how politicians determine whose preferences they pay attention to.
• Enable participants to follow and shape the debate around financial markets regulation, be it their current or future role in the financial sector, as legal practitioner, central banker, policy maker, researcher or NGO-representative.

Examination-immanent courses (PI) have compulsory attendance. In case of absence the lecturer is to be informed in advance via email, especially in cases of conflicting class schedules. More details on absenteeism rules will be explained in the first class.

Learning activities consist in preparatory readings, teacher's input, discussions and other activities in class, small individual assignments and quizzes, written group work or individual assignment.

• Active participation in class and contributions to the discussion (20%)
• Reading quizzes (20%)
• Group presentation (30%)
• Final Assessment (30%)

Course enrollment is on the basis of "first-come, first-served” principle. If you have registered but cannot participate in the course, please de-register via LPIS during the registration period so that your course is available to students on the waiting list.

If there is a waiting list for enrollment in the course, students at the waiting list will be notified after the end of the enrollment period, and will be allocated to available places. Students will be ranked by their study progress not by their rank on the waiting list.

This procedure, however, is not to be understood as a place guarantee!