Law and Economics of EU Trade Policy

This course provides an introduction to EU trade policy from both legal and economic perspectives. Students will learn how the international trading system operates, the role of the World Trade Organization and its connection to EU law, and how the EU and its Member States make trade policy decisions. The course also examines the economic arguments for and against trade, the effects of free trade agreements and unilateral EU trade tools, and critically evaluates the distributional impacts of EU trade policy as well as adherence to constitutional values like democracy and the rule of law.

In addition, special attention is given to contemporary challenges facing EU trade policy, with particular focus on the ongoing geopolitical shifts and the possible fragmentation of the international trading system. These themes are explored to help students understand the evolving landscape and complexities that shape decision-making and policy outcomes in the field of EU trade.

Upon successful completion of the course, students should understand the fundamental principles and objectives of EU trade policy, including the role of the World Trade Organization and its connection to EU law. In addition, they should be able to:

1. Analyze the economic arguments for and against trade, and evaluate the effects of free trade agreements and unilateral EU trade tools.

2. Explain how the EU and its Member States make trade policy decisions, including the institutions involved and their roles.

3. Apply key economic theories of trade, such as comparative advantage and the Heckscher-Ohlin model, to real-world scenarios.

4. Assess the impact of trade policies on international trade, including the use of trade sanctions, embargoes, and preferential trade agreements.

5. Critically examine the interaction between EU and WTO trade law, using case studies and examples.

6. Discuss recent developments in EU trade policy and their implications for the future of multilateralism and the EU's unilateral turn.

Required and Corequired knowledge and skills

None.

The course will take the form of interactive lectures, where active participation is highly encouraged. Students are expected to have read the prescribed materials before each class and should be prepared to engage in discussions and answer questions during the lectures. This interactive approach aims to deepen understanding and foster critical thinking. Additionally, students who positively distinguish themselves through their participation and contributions in class will have the opportunity to earn a bonus of up to two points (out of twenty) on their final examination, as detailed further below.

References, bibliography, and recommended reading

Course materials (including the bibliography) will be made available on Université virtuelle.

Course notes

• Université virtuelle

Contacts

Dr. Thomas Verellen (thomas.verellen@ulb.be) (course coordinator)
Dr. Chrissopighi Braila (chrissopighi.braila@ulb.be)

Campus

Solbosch

Method(s) of evaluation

• written examination

written examination

The exam will take the form of an English-language written examination, hand-written, on campus. The questions will consist of a combination of knowledge questions and questions that aim to test the student's deeper understanding and ability to engage critically with the course materials. The latter category may include case studies or essay questions.

An oral component may be added to the written exam, whereby students will be invited to present their answer to a question and respond to follow-up questions.

As mentioned above, students who participate actively and show strong preparation or contribute thoughtful questions during lectures may earn up to two bonus points (out of twenty) on their final exam.

Further information on the modalities of the examination format will be made available on the Université virtuelle.

Language(s) of evaluation

• english