This course aims to teach students the basics of investment treaty arbitration and introduce them to techniques for studying these fields through the lens of political economy. By pairing theoretical readings of political economy with papers on substantive investment law and investment arbitration cases, the proposed course will simultaneously teach students substantive investment law, political economy analysis of law, and economic development. Substantive investment law will continuously be explained historically and analysed through the lens of political economy. The historical approach allows studying important precursors to investment arbitration (Greenman 2018; Barton 2014) as well as the modern emergence of investment law (St John 2018; Pauwelyn 2014). By contextualizing the emergence of the regime with the ideas that has served to justify it (Röpke 1954; Plehwe 2015; Kennedy 2006; Krever), students will be introduced to tools for analyzing economic thinking in legal institutions more generally. An overarching theme of the course is the way international investment law disciplines sovereignty through property-based arguments (e.g. Perrone 2021). In this respect, the course develops Polanyian insights to the political economy of law (Polanyi 2001). It allows students to study the relationship between sovereignty and property (see e.g. Cohen 1927 and Koskenniemi 2020), with particular application to the investment-law context.