The course will examine the principal issues concerning international financial institutions (IFS). These include constituent treaties, operational principles and limitations, immunities and privileges, and governance structures. Primary consideration will be given to the Asian Development Bank which is the leading regional development bank in the Asia-Pacific region, and comparisons will be made with other IFIs including the World Bank, the Inter-American Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development.

The course will cover project lending operations of development banks through the project cycle from project preparation to project completion and the preparation of legal agreements with general conditions and specific covenants. The course will also analyse interventions by these institutions in law and policy reform activities.

At the same time, the course will address how other issues are handled including formulation and development of anticorruption policies and social safeguard policies such as environment; engagement with civil society; and establishment and operation of accountability mechanisms to address citizen grievances on bank projects.

This course does not try to provide a comprehensive picture of all these international institutions. Rather it aims at helping students to understand the developmental role played by IFIs in their operations in borrowing countries and the problems and challenges faced by these institutions.

A student who successfully completes this course will have

In terms of knowledge:

• a body of knowledge that includes the extended understanding of recent developments in relation to international financial institutions
• knowledge of research principles and methods applicable to international institutions.

In tems of skills:

• cognitive skills to demonstrate mastery of theoretical knowledge and to reflect critically on theory and professional practice in relation to international financial institutions
• cognitive, technical and creative skills to investigate, analyse and synthesise complex information, problems, concepts and theories  and apply established theories to different bodies of knowledge relating to international financial institutions
• cognitive, technical and creative skills to generate and evaluate complex ideas and concepts at an abstract level
• communication and technical research skills to justify and interpret theoretical propositions, methodologies, conclusions and professional decisions to specialist and non-specialist audiences
• technical and communcation skills to design, evaluate, implement, analyse and theorise about developments that contribute to professional practice.

In terms of application the ability to apply the knowledge and skills

• with creativity and initiative to new situations in professional practice and/or for further learning
• with high level personal autonomy and accountability
• and to plan and execute a substantial research-based project, capstone experience.

Class participation - 10%

Essay 5,000 words - 90%

Four days of face-to-face teaching and approximately 35 -40 hours of private study time.

Co requisites: LAWS8182 Principles of International Law OR LAWS8001 Introduction to Law, Governance and Development

Basic knowledge of the international financial system would be an advantage.

None

Access to internet