Uusi opinto-opas (sisältäen myös opetusohjelmat) lukuvuodelle 2018-2019 sijaitsee osoitteessa https://opas.peppi.utu.fi . Tältä sivustolta löytyvät enää vanhat opinto-oppaat ja opetusohjelmat.

The new study guide (incl. teaching schedules) for academic year 2018-2019 can be found at https://studyguide.utu.fi. This site contains only previous years' guides.

x !
Archived Curricula Guide 2013–2014
Curricula Guide is archieved. Please refer to current Curricula Guides
TLS_1007 International Investment Law 12 ECTS
Organised by
Turku Law School
Person in charge
Responsible teacher: LL.D Ahmad A. Ghouri, 3335853, ahmgho (at) utu.fi, room: Matt 9.
Minimum preceding studies
110 ECTS.
Preceding studies
Previous studies in international law are desirable but not mandatory.

General description

The course will provide insights into themes and issues of international investment law. Centred primarily on treaties for the promotion and protection of foreign investment and investment chapters in free trade agreements, international investment law has developed as a distinct legal discipline within international law. Most investment treaties contain clauses that facilitate investor-state disputes resolution through international arbitration. The growing number of investment treaties and corresponding investor-state disputes are contributing in the formation and development of international investment law. Students will be introduced to substantive principles of international investment law and procedural rules of investment treaty arbitration. After an overview of the historical evolution of the rules and principles of international investment law, we shall examine the legal nature of rights and standards of treatment provided by investment treaties to foreign investors. In light of the decisions and awards of investment arbitration tribunals, students will be able to understand and analyse the rights of foreign investors and of States hosting foreign investments, the standards of protection provided by investment treaties, and the rules on calculation of compensation for breaches of such rights and standards.

Learning outcomes

On completion of this course, students are expected to develop the following skills:
- Conceptual and practical knowledge of international investment law
- Advise clients on matters relating to foreign investments
- Handle legal disputes relating to foreign investment
- Bring compliance with foreign investment laws in industry and business to avoid adverse financial and operational consequences


Part 1: Introduction to international investment law
Origins of the law of foreign investment
Basic vocabularies
Common concerns of foreign investors
Objects and purposes of international investment law
Basic instruments of international investment law
Standard clauses of bilateral investment treaties
Recent trends
Part 2: Investment disputes resolution
What is an investment dispute?
State-State arbitration
Investor-State arbitration under investor-State agreements
Investor-state arbitration under investment treaties
Investor-State arbitration institutions
Problems with investor-State arbitration
Available remedies at investor-State arbitration
Part 3: Compensation in international investment law
Historical division on customary international law
Compensation rules provided by investment treaties
Basic types of compensation
Basic rules on compensation
Part 4: Expropriation
Definition of expropriation under investment treaties
Relationship between expropriation and standards of treatment
Direct and indirect expropriation
Creeping expropriation
Part 5: Standards of treatment
Standards of treatment under investment treaties
Legal determination
Fair and equitable treatment
National treatment
Most favoured nation treatment
Part 6: Enforcing international arbitral awards

Teaching methods

Teaching method Contact Online
Lectures 20 h 0 h

Lecturers and student assignments.

Teaching language


Modes of study

Option 1
Available for:
  • Degree Programme Students
  • Other Students
  • Doctoral Students
  • Exchange Students
Participation in classroom work
  • In English
  • In English
  • In English
Written exam
  • In English
Participation in classroom work and Exercise(s) and Seminar and Written exam

Each student will read and present in the class at least one case/arbiral award from the list of cases and awards provided in the beginning of the course.
Exam is a form of take-home exam.

Evaluation and evaluation criteria

Numeric 0-5.
The grades (1-5) will depend on the examination (50%), essay (50%), and Successful completion of the assigned tasks and performance during the seminars and student assignments +/-1.

Study materials

Most of the study material shall be provided to students in Power Point slides. The following reference book is recommended:

Andrew Newcombe, Lluís Paradell, Law and Practice of Investment Treaties. Standards of Treatment, (Kluwer Law International, February 2009) ISBN 9041123512, ISBN 13: 9789041123510

Further information

TIME: 28.10. - 19.12.2013
This is a 12 ECTS specialization course (erikoistumisjakso) part of the Master’s Degree Programmme in Law and Information Society (LIS).

Law students of the Faculty of Law may continue working with an essay and expand it into a bachelor’s thesis (ON-seminaarityö).

SELECTION CRITERIA: Participation is limited to 24 students. Students enrolled in the LIS have priority in the selections.

Belongs to following study modules

Faculty of Law
Faculty of Law
Faculty of Law
Archived Teaching Schedule. Please refer to current Teaching Shedule.
Faculty of Law
Finnish Study Modules
Master of Laws DP
Law, Studies for Bachelor/Master of Laws Degree