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Course

Sovereign Debt and the Law - LAWS3153

Faculty: Faculty of Law

School: Faculty of Law

Course Outline: See below

Campus: Sydney

Career: Undergraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 3

Enrolment Requirements:

Pre-requisite: Crime & Criminal Process (LAWS1021/JURD7121) & Criminal Laws (LAWS1022/JURD7122) OR Crim. Law 1 (LAWS1001/JURD7101) & Crim. Law 2 (LAWS1011/JURD7111). Co-requisite: Litigation 1 [LAWS2311/ JURD7211] OR Res. Civil Disp. (LAWS2371/JURD7271)

Excluded: JURD7453

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

Issues in relation to sovereign debt can have major ramifications for citizens of borrowing and lending countries, and also on the entire financial system. It is an important area of international finance to understand. This course looks at the different sources of sovereign finance: bilateral, multilateral and commercial, and the existing legal framework for sovereign debt. It considers the rules and customs that apply in the event of sovereign debt defaults, and the informal institutions such as the Paris Club and London Club that have developed to deal with sovereign debt restructurings. Using recent sovereign debt crises as case studies, the course looks at the adequacy of the existing legal framework, and proposals for change.

Course Objectives

  • Knowledge and understanding of sources of sovereign finance.
  • Knowledge and understanding of the legal framework for sovereign finance.
  • Knowledge and understanding of legal framework for sovereign debt defaults and debt restructurings.
  • Knowledge and understanding of international institutions such as the IMF and informal arrangements such as the Paris Club and London Club in debt restructuring process.

Learning Outcomes

At the conclusion of this course, students should be able to:
  • Demonstrate familiarity with the major issues in the legal framework for sovereign debt.
  • Appreciate the complex political and economic considerations that often drive sovereign finance matters, and that shape the legal framework for sovereign debt.
  • Engage in debate about sovereign debt, recent crises, and the role of law in dealing with these matters.

Assessment

  1. Class participation - 10%
  2. Synopsis - 10%
  3. Written paper - 80%
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Study Levels

Undergraduate Study Postgraudate Study Postgraduate Research Study Non-Award Study

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