LAW4673 - European and international monetary law - 2017

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.



Not offered in 2017


This unit will introduce students to European and International Monetary Law. It is divided into three substantive sections: interdisciplinary introduction to money and currencies; international monetary law; and European monetary law.

In the first section, we will explain and discuss the interdisciplinary fundamentals of money and currencies, including the historical background, economic theories and the role of monetary law. The second section will introduce international monetary law, focusing on the work and functions of the International Monetary Fund (IMF), which has played a major role in addressing global financial and sovereign debt crises over the past decades. This section will also introduce and explain the underlying fundamental problems resulting from cross border payment and capital flows, including: convertibility, exchange-rate systems, free movement of capital and international liquidity. The third section will focus on European monetary law, covering the monetary integration process in Europe, and a thorough examination of the constitution and structure of the European Monetary Union (EMU). The unit will conclude with an analysis and critical assessment of the much-debated recent developments within the EMU set in motion by the European sovereign debt crisis, including the implications for countries such as Greece and Germany.


At the successful completion of this Unit, students will be able to:

  1. Identify and critically analyse the principles underpinning European and international monetary law and policy;
  2. Describe and articulate the history, institutional structures and implications of European and international monetary law;
  3. Apply these insights to communicate effectively, appropriately and persuasively in relation to fundamental legal problems of international monetary relations; and
  4. Provide and make use of feedback to assess their own capabilities and performance and to support personal and professional development.


Attendance requirement: Students who fail to attend at least 80% of the classes in this unit (ie who miss 3 or more classes) will receive a result of 0 N for the unit. Students who are unable to meet this requirement due to severe illness or other exceptional circumstances must make an application for in-semester special consideration with supporting documentation.

  1. Class participation: 10%
  2. Seminar paper (1000 words): 20%
  3. Take-home examination (3500 words): 70%

Workload requirements

Students will be required to attend 36 hours of seminars, and undertake approximately an additional 108 hours of private study, including reading, class preparation and revision time over the duration of the unit.

See also Unit timetable information

Chief examiner(s)


For students who commenced their LLB course prior to 2015:

LAW1101 Introduction to legal reasoning and LAW1104 Research and writing

For students enrolled in the LLB (Honours) course from 2015:

LAW1111 Foundations of law, LAW1112 Public law and statutory interpretation, LAW1113 Torts, LAW1114 Criminal law 1, LAW2101 Contract A, LAW2102 Contract B, LAW2111 Constitutional law and LAW2112 Property A

For other students:

Equivalent introductory units from another university