Study

Faced with myriad health, safety, environmental, security and financial risks, how should societies respond?  This course studies the regulation of a wide array of risks, such as disease, food, drugs, medical care, biotechnology, chemicals, automobiles, air travel, drinking water, air pollution, energy, climate change, finance, violence, terrorism, emerging technologies, and extreme catastrophic risks. (Students may propose to research other risks as well.)

Across these diverse contexts, the course focuses on how regulatory institutions deal with the challenges of risk assessment (technical expertise), risk perceptions (public concerns and values), priority-setting (which risks should be regulated most), risk management (including the debates over "precaution" versus benefit-cost analysis, and risk-risk tradeoffs such as countervailing harms and co-benefits), and ongoing evaluation and updating.  It examines the rules and institutions for risk regulation, including the roles of legislative, executive/administrative, and judicial functions; the challenge of fragmentation and integration; the roles of oversight bodies (such as judicial review by courts, and executive review by US OMB/OIRA and the EU RSB); and the potential for international regulatory cooperation.

The course examines these issues through a comparative approach to risk regulation in the United States, Europe, and beyond (especially those countries of interest to the students in the course each year).  It examines the divergence, convergence, and exchange of ideas across regulatory systems; the causes of these patterns; the consequences of regulatory choices; and how regulatory systems can learn to do better.

This is a research seminar, in which students discuss and debate in class, while developing their own research.  We may also have some guest speakers.  Students' responsibilities in this course include active participation in class discussions, and writing a substantial research paper.  Students’ papers may take several approaches, such as analyzing a specific risk regulation; comparing regulation across countries; analyzing proposals to improve the regulatory system; or other related topics.

This course is Law 590, cross-listed as Environ 733.01 and PubPol 891.01.  Graduate and professional students from outside the Law School should enroll via those Environ and PubPol course numbers, and may contact the Nicholas School registrar, Erika Lovelace, e.love@duke.edu, or the Sanford School registrar, Anita Lyon, anita.lyon@duke.edu, with any questions about enrollment.  (The Law School does not use “permission numbers.”)

The Course will

• Provide an overview of development challenges in Low and Middle-Income Countries and the shared global responsibility under the UN Agenda 2030 to reconcile economic, social, and ecological objectives.
• Focus on the roles of and partnerships between actors of development finance, such as government agencies, multilateral development banks, foundations, NGOs, and the private sector, particularly social entrepreneurs and impact investors.
• Familiarize students with development finance instruments, such as budget aid, grants, loans, and blended finance mechanisms.
• Address critical views on aid effectiveness.
• Highlight policies in developed countries incoherent with the objectives of development assistance.

Requirements for one credit:

• Two 3-page essays: the first to be submitted on or before September 14, 2023 (15% of final grade); the second to be submitted on or before October 5, 2023 (15% of final grade)
• One 10-page paper to be submitted on or before December 1, 2023 (40% of final grade)
• Active participation in class discussions (30% of final grade)
• There will be no final exam

Requirements for a second credit (optional):

• Online presentation to professor of approx. 25 minutes
• Topic in the field of Development Finance proposed by student
• Time of presentation between November 6^th and 24^th, 2023 (date to be determined by student and professor)
• Written outline of presentation and bibliography to be submitted to professor no later than three days prior to presentation.
• Grading: pass/fail