Master of Banking and Finance Law
Course code: 526AA
March, June, July, August, December
AUD $49,984 (2026 indicative first year fee). Commonwealth Supported Places (CSPs) are not available
March, July
AUD $60,992 (2026 indicative first year fee)
IELTS 6.5: with no band less than 6.0
Course structure
Overview
Course structure
Students must complete 100 credit points in total.
Students who do not have a law degree from a common law jurisdiction must complete Fundamentals of the Common Law, as well as 87.5 credit points of study from the prescribed list of subjects.
Students with a law degree from a common law jurisdiction must complete 87.5 credit points of study from the prescribed list and may choose 12.5 credit points from the subjects available in the Master of Laws (excluding Fundamentals of the Common Law and the Minor Thesis).
Subject timing and format
The Melbourne Law Masters program has been designed around the busy schedules of working professionals. Subjects are offered from February to December each year. Most subjects are taught intensively over five days, with some subjects taught for two hours each week during the semester.
Subjects delivered online will have a combination of pre-recorded lecture content, live sessions and discussion boards among other resources. On-campus subjects involve interactive, seminar-style classes in the Law Building in Melbourne.
Duration
Full-time students enrol in 50 credit points per semester (or half-year period) and have an expected course duration of one year. Part-time* students enrol in 25 credit points per semester (or half-year period) and have an expected course duration of two years. Semesters without enrolments require a student to apply for a leave of absence.
*Part-time enrolment is for domestic students only. Part-time students may reduce their study load to 12.5 credit points per half-year period and thus have a maximum course duration of four years.
For detailed course and subject information, see the Handbook: Master of Banking and Finance Law.
Profile
Associate Professor Paul Ali
The range of subjects covers transactions and regulation in the financial markets (both domestic and international) and also the impact of technology and innovation.
— Director of Studies, Banking and Finance - Paul Ali
Explore this course
Explore the subjects you could choose as part of this degree.
Banking and Finance Law
| Accordion | |
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| Australian Consumer Law · 12.5 pts |
Australia has a detailed and comprehensive consumer protection regime dealing with the supply of goods and services, including financial products, to consumers. Primary legislation is the Australian Consumer Law (ACL), found in Schedule 2 of the Competition and Consumer Act 2010(Cth); equivalent provisions in the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) applying to financial services and products; and, for consumer credit, the National Consumer Credit Protection Act 2009 (NCCP Act). This subject explores the key features of the consumer protection regimes underlying the supply of goods, services and credit to consumers, along with the common law principles and policy imperatives that underpin these regimes. The lecturers include one of the Law School's private lawyers with specialist expertise in consumer law, and a leading practitioner in this field of law. Indicative list of principal topics:
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| Business Negotiations and Deal-Making · 12.5 pts |
Negotiation is an essential skill-set for lawyers and the legal profession. Due to negotiations by lawyers, many civil and criminal law cases are settled before the parties even enter the courtroom. Lawyers negotiate on behalf of their client with other lawyers as well as third party non-lawyers. Lawyers must also negotiate internally with their own client as well as other parties to reach consensus. Negotiations also occur in various forms, from traditional settings such as conference rooms and courtrooms, to non-traditional settings such as e-mail and social media communication. Thus, the ability for lawyers to develop and utilise a negotiator's toolbox to negotiate within and among a broad array of environments are essential elements of the legal profession. Indicative list of principal topics:
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| Climate Law, Economics and Finance · 12.5 pts |
Climate change is increasingly necessitating systemic change to the structure of the global economy and financial system. This subject will examine the interaction between climate change law and policy and these systemic changes. It considers a range of legal, policy and financial tools that governments around the world have used to try and manage responses to climate change, such as carbon pricing, green fiscal spending, climate risk disclosure and emissions regulations. It critically evaluates these legal, financial and policy approaches, and the economic theory underpinning them. Our subject introduces students to these climate change legal and policy approaches through case studies across different themes (carbon markets, sustainable finance, energy, transportation) and geographies. Guest speakers with legal, sustainable investment and public policy backgrounds will join the course to speak to some of these case studies. By drawing together economic theory and practitioner-informed case studies, we will provide students with the knowledge, tools, and networks to critically assess and participate in the future development of regulatory regimes, policies and financial mechanisms which might help arrest global warming. Indicative list of principal topics:
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| Commercial Applications of Equity · 12.5 pts |
Equitable doctrines and remedies lie at the heart of commercial conduct, transactions and private law litigation. They provide unique standards of conduct that restrict and guide commercial dealings and a raft of powerful personal and proprietary remedies that dictate defendant liability when transactions fail. Over recent years their influence has been seen in important judicial decisions affecting commercial dealings. This subject considers some of the more pressing points of convergence between equitable doctrine and commercial practice, drawing throughout comparisons with the law in Australia and that in England and Wales. In doing so, our subject is tightly structured to ensure that students are exposed to cutting-edge legal theory concerning court-led equitable developments and to the ramifications of those developments at the coal-face of commercial practice and dealings. This subject will be relevant to transaction lawyers involved in planning, initiating and drafting contracts, for corporate lawyers and regulators involved in consumer and banking law and for commercial litigators. The lecturer is an internationally recognised expert in the commercial applications of equitable doctrines and remedies. Indicative list of principal topics:
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| Commercial Insurance Law · 12.5 pts |
This subject focuses on the legal context and considerations of property, crime and financial liability insurance, including categories of loss and liability, disputed coverage and claims handling issues. The course is relevant to operational business risk management and will cover insurance products such as material damage and resultant business interruption, public and products liability, professional indemnity, errors and omissions, crime and trade credit insurance. This subject has an Australian focus. Indicative list of principal topics:
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| Comparative Insolvency Law · 12.5 pts |
Insolvency laws have developed significantly over the past few decades. No one still believes, as Napoleon did when discussing the French Commercial Code in 1807, that all insolvencies can simply be eradicated. However, insolvencies remain both a sign and consequence of economic turmoil, and insolvency processes can be optimised to reduce costs, save businesses and jobs, and even—on a wider scale—protect national economies. Insolvency law has therefore become as crucial for economists as it is for lawyers, with considerable attention given to improving insolvency tools. This has resulted in global convergence of insolvency systems—in fact, all EU member states have recently reformed their insolvency laws by adopting common law-based principles. At the same time, legislators have recognised the importance of early intervention and prevention. Our field moves quickly and involves significant psychological impacts for people facing economic difficulties. This subject aims to give you the skills and tools necessary to understand the main concepts behind insolvency procedures. We will focus on current problems and strategies in typical insolvency procedures, covering the main mechanisms that make insolvency systems efficient. We take a special perspective on EU systems with a focus on French law, while also making brief excursions into US law. |
| Corporate Insolvency and Reconstruction · 12.5 pts |
The law of corporate insolvency plays a significant role in a modern economy. Recent economic downturns, coupled with high-profile corporate collapses, have emphasised its importance. But several parliamentary and other enquiries have highlighted its shortcomings, and the effectiveness of recent law reform initiatives remains to be seen. This subject is of particular relevance to practitioners whose work involves insolvency and related issues—whether from the ‘back end’ (eg litigators) or ‘front end’ (eg transactional, banking or property lawyers). Indicative list of principal topics:
As well as the subject prerequisites, students are expected to have some background knowledge of the subject matter before enrolling. Prospective students should have previous study in corporations law or have undertaken substantial pre-subject reading. It is recommend that students have a general familiarity with the formal regimes (i.e. liquidation, administration and receivership) and relevant statutory provisions as a backdrop against which to consider the topics and issues we will cover. |
| Corporate Transactions · 12.5 pts |
This subject focuses on the law and practice of complex corporate transactions, including debt and equity financings, amalgamations, acquisitions, divestitures, schemes of arrangement, and corporate restructurings. Special emphasis will be placed on the analytical, drafting, and negotiation skills central to serving as a transactional attorney. The jurisdictional focus will be Australia, Canada, and the United States, as well as other common-law jurisdictions. Notwithstanding this subject’s practical orientation, discussion and materials will also address legal, economic, and even political theories that can help us understand how corporate transactions are structured and executed. Indicative list of principal topics:
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| Cryptoassets in Global Context · 12.5 pts |
CSIRO’s Data61 digital research network describes blockchain technology as ‘a revolutionary new approach to database management’ that will prompt ‘significant changes in existing Australian industries’. Yet, despite significant investments of time and money by institutions around the world, we still lack robust proof of social or commercial benefit. Several years have passed since Bitcoin’s ‘Genesis Block’ was mined, but that foundational use case—digital cash without traditional intermediaries—has not challenged the legacy payments infrastructure. Where blockchain-based assets are used as monetary instruments rather than investments, those transactions are atypical in subject-matter and frequency. All of this begs the question: if the goal of blockchain technology is to eliminate ‘trusted third parties’, why is that something to aspire to? Is the answer to that question commercial or political? And, most importantly, is it correct? The aim of this subject is to answer these questions, and to do so by situating cryptoassets in their global context—as a matter of law, economics, politics and society. |
| Fundamentals of the Common Law · 12.5 pts |
This is a foundational subject in the Melbourne Law Masters (MLM) which is compulsory for graduates of disciplines other than law and for law graduates from countries with a non-common law system. It provides students with an opportunity to acquire the foundational legal skills necessary for studying and working in a common law system, such as that in Australia. The common law forms one of the two principal systems of Western law that, through colonisation, have spread throughout the world. Common law systems have a distinctive approach to understanding the sources of law, the role of law-making institutions, and processes for resolving disputes. These characteristics of the common law system have had a profound effect on the development not only of the societies in the countries in which it applied, but also on international law and practice. The aim of this subject is to acquire basic foundational legal skills that will assist you with other subjects in the MLM program. The subject teaches students how to read, use and interpret reported cases and legislation. The subject explains the sources of law, what influences them, and how they influence the development of the common law. These aims are given in context of some contemporary debates on common law reasoning by assessing the role of the High Court of Australia. The subject focuses on developing skills in analysis and legal writing, the tools of the common lawyer. Indicative list of principal topics:
Important information about this SubjectThis subject is an important foundational skills-based subject for many common-law focussed subjects in the Melbourne Law Masters. We recommend Masters students needing an introduction to the common law enrol in this subject when they first start their program of study. For most graduate diploma students, Australian Legal Process and Legal Institutions (ALPLI) is the alternative intensive offering. All students enrolled in the following common-law focussed Masters courses are strongly recommended to take LAWS70217 Fundamentals of the Common Law (if you don't already have prior professional or educational background in the common law):
More information on course planning in the Melbourne Law Masters. |
| Global Financial Architecture · 12.5 pts |
The International Monetary Fund (IMF) and the World Bank are arguably two poorly understood international organisations. Both are key components of the international monetary and financial architecture. They also play a vital role in national economies (as seen for example in the IMF's involvement in the Euro-zone crisis or in addressing the economic dislocations caused by global events and its analytical work on the prevention and resolution of financial and sovereign debt crises) and international development. This subject will focus on the IMF and World Bank while also providing students with a sophisticated understanding of the broader international financial system and its problems. The subject provides a valuable insider's perspective on the 'Bretton Woods' institutions. |
| Impact Investing: Driving Change · 12.5 pts |
Impact investing is a hot topic, championed as well as vilified globally. From charities to large fund managers, investors are looking beyond purely financial returns to tangible and sustainable impact. What does it take to be a responsible investor? What is the role of a lawyer with an impact fund, and what are the responsibilities of investors and managers? This subject explores both responsible and impact investing, highly dynamic and urgent topics in the transition to net zero and the challenge of the sustainable development goals. The subject has a distinctly practical approach and is designed to assist students in developing the skills to assess, prioritise and negotiate impact transactions. We dig into the structuring, negotiation and documentation of impact investing across a broad spectrum, ranging from venture capital, direct and co-investments to managed equity funds. We also explore challenging and live legal topics such as corporate responsibility, fiduciary duty, disclosure obligations and impact washing. Special attention is dedicated to how investors can generate meaningful and sustainable change in their engagement with investee companies and impact funds. Seasoned practitioners from across the market provide their insights as part of a valuable diversity in perspectives. Indicative list of principal topics:
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| International Business Transactions · 12.5 pts |
This subject is a basic 'how-to' on international business transactions and is essential for those wishing to practise international trade law. The subject intentionally covers a vast array of related topics, with the focus being on the legal issues faced by practising lawyers in the field. Particular emphasis is placed on issues such as trade terms, international sales of goods, documentary credits, carriage of goods, customs and border regulations. This subject also considers several issues relating to international trade, such as intellectual property rights, licensing, franchising and governmental measures regulating investment. Such coverage ensures students are exposed to the most important and frequent issues facing the practising trade lawyer. Indicative list of principal topics:
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| International Economic Law · 12.5 pts |
Newspaper headlines frequently concern global economic issues, from trade disputes between countries and investment claims by foreign investors against sovereign states, to countries facing balance-of-payments crises and seeking assistance from the International Monetary Fund (IMF). This subject examines the law governing global economic issues. It is designed both as a comprehensive introduction in its own right to this important field, as well as a foundation for further exploration through specialist subjects in the curriculum. We begin with a focus on international trade law, particularly the rules and dispute settlement procedures of the World Trade Organization (WTO). It then discusses contemporary developments in international trade law and policy, including the negotiations for regional or bilateral preferential trade agreements. We then consider international investment law, examining key substantive obligations relating to investor protection and investor-state dispute settlement mechanisms (particularly through the International Centre for Settlement of Investment Disputes (ICSID)). Finally, the subject provides an introduction to the lending policies and practices of international financial institutions, particularly the IMF and the World Bank. |
| International Legal Internship · 12.5 pts |
International Legal Internship allows students to gain credit for undertaking advanced legal research and analysis on an approved international internship of at least five weeks of full-time work in an approved international institution or organisation. This subject is focused on providing students with an opportunity to engage with legal and policy issues in contemporary society through work experience and further develop oral and written communication skills. Students are required to secure and fund their internships personally. Students are encouraged to discuss their internship proposals with the subject coordinators. Students who successfully enrol in International Legal Internship must arrange a meeting with at least one of the subject coordinators both prior to their internship and upon completion, to develop a better understanding of research and the role of international institutions in international law and relations. Important information about enrollingThis subject is not available for self-enrolment but is an application-based enrichment subject, which means prospective students must apply to enrol. More information about the application process can be found on the MLM International Legal Internship webpage. |
| International Lending · 12.5 pts |
This subject involves the study and analysis of the structure, purpose and key provisions of market standard cross border lending documentation, including large syndicated credit agreements (governed by New York or English law). Students will focus on anticipating potential concerns and tensions in the negotiation process and will have the chance to review and study the key agreements and documents such as the credit agreement, guaranties, other ancillary documents, schedules, and document deliveries that they will encounter in practice. Students will also study the structure and standard documents used in the cross-border repo market and the securities lending market, two important international capital markets. Over the past three decades, Professor Christian Johnson has taught and lectured on cross-border lending and capital markets in Australia, Europe, Asia, the Middle East, Africa, and North and South America. Currently, he is the Commonwealth Professor of Law and Business Advising at Widener University Commonwealth School of Law. Professor Johnson has presented and lectured at sovereign wealth funds, central banks, multilateral development banks, the University of Oxford, the London School of Economics, the National University of Singapore, and other prominent institutions. Professor Johnson graduated with his law degree from Columbia University, practiced for global law firms in New York and Chicago, and worked as a certified public accountant for Price Waterhouse prior to law school. Indicative list of principal topics:
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| International Sustainable Finance · 12.5 pts |
The Challenge of a Decade, if not our Generation. Can sustainable finance be the answer to climate change, poverty and inequality? The purpose of this subject is to immerse students in sustainable finance in international practice, from sustainable lending, green bonds, renewable energy, innovative structured products and impact investing. Across these markets, key legal concepts, structural features and documentation are covered in detail. By engaging in-depth, through term sheet negotiations, and pitches the students jointly develop the skills to assess, prioritise, challenge and negotiate these transactions. The subject coordinator draws on his own experience in global sustainable finance, and invites experts from international law firms and organisations, to help you become ‘more than a lawyer’. Indicative list of principal topics:
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| Principles of Banking and Finance Law · 12.5 pts |
This subject examines the fundamental principles under Australian law relating to the provision of credit by financiers to businesses and consumers. The subject has as its focus the legal design of key financing transactions and the chief means by which financiers manage the risk of a borrower’s default or insolvency. The topics covered range from 'vanilla' loans supported by security interests and guarantees to more complex title-based transactions, including assignments, leases and securitisations, and the use of credit derivatives. The subject also discusses the Australian Personal Property Securities Act. Indicative list of principal topics:
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| Principles of International Law · 12.5 pts |
This subject is an introduction to the foundational principles and rules of the public international legal order. It is designed to provide students with an understanding of the key concepts of international law, its history and contemporary relevance, sources of international law and the role of some key international institutions, such as the United Nations (UN). The subject is grounded in both theory and practice in order to consider how international law works in shaping and dealing with a range of global issues, including the creation, recognition and sovereignty of states, self-determination of peoples and the use of force in international relations. Using contemporary examples and case studies which address recent and current developments, students will critically evaluate the position and relevance of international law in international politics and society. The teaching integrates both content and skills in advanced legal research and writing. We will purposefully introduce students to the practices and protocols of advanced study in international law, as well as to the specialised knowledge and skills required of studying at postgraduate level in the Melbourne Law Masters. Indicative list of principal topics:
Important information about this SubjectThis subject is a pre-requisite for many other international law subjects in the Melbourne Law Masters. We recommend full-time students enrol in this subject when they first start their program of study. For part-time students, International Law (LAWS70173) is the alternative five-day intensive offering. All students enrolled in the following internationally focussed courses are strongly recommended to take either LAWS90295 Principles of International Law or LAWS70173 International Law (if you don't already have prior professional or educational background in public international law):
More information on course planning in the Melbourne Law Masters. |
| Project Finance · 12.5 pts |
Project finance is the financing of major projects. It often takes the form of a financing arrangement under which the monies raised for a project are repaid primarily from the project’s cash flow, with the project’s assets held as collateral. It enables the sponsor of a project to arrange financing with no recourse, or limited recourse, to the sponsor’s balance sheet. Project finance is complex in view of the number of parties involved, the security that is taken over the project’s cash flow and assets, the nature of the rights that are exercised by the lenders in respect of the project generally and the cross-border character of stakeholders. Project finance lawyers need to have an in-depth understanding of both the legal issues that arise as well as the commercial and operational aspects of the project. The lecturer is a leading practitioner in this area and will introduce students to the key legal, contractual and structural issues concerning major projects and project finance, and analyse these issues in the context of a number of case studies in the mineral, energy and infrastructure sectors. Indicative list of principal topics:
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Non-common law background
Students who do not have a law degree from a common law jurisdiction must complete Fundamentals of the Common Law, as well as 87.5 credit points of study from the prescribed list of subjects.
Overview subject
| Accordion | |
|---|---|
| Fundamentals of the Common Law · 12.5 pts |
This is a foundational subject in the Melbourne Law Masters (MLM) which is compulsory for graduates of disciplines other than law and for law graduates from countries with a non-common law system. It provides students with an opportunity to acquire the foundational legal skills necessary for studying and working in a common law system, such as that in Australia. The common law forms one of the two principal systems of Western law that, through colonisation, have spread throughout the world. Common law systems have a distinctive approach to understanding the sources of law, the role of law-making institutions, and processes for resolving disputes. These characteristics of the common law system have had a profound effect on the development not only of the societies in the countries in which it applied, but also on international law and practice. The aim of this subject is to acquire basic foundational legal skills that will assist you with other subjects in the MLM program. The subject teaches students how to read, use and interpret reported cases and legislation. The subject explains the sources of law, what influences them, and how they influence the development of the common law. These aims are given in context of some contemporary debates on common law reasoning by assessing the role of the High Court of Australia. The subject focuses on developing skills in analysis and legal writing, the tools of the common lawyer. Indicative list of principal topics:
Important information about this SubjectThis subject is an important foundational skills-based subject for many common-law focussed subjects in the Melbourne Law Masters. We recommend Masters students needing an introduction to the common law enrol in this subject when they first start their program of study. For most graduate diploma students, Australian Legal Process and Legal Institutions (ALPLI) is the alternative intensive offering. All students enrolled in the following common-law focussed Masters courses are strongly recommended to take LAWS70217 Fundamentals of the Common Law (if you don't already have prior professional or educational background in the common law):
More information on course planning in the Melbourne Law Masters. |