This course will provide students with an understanding of the protection offered to foreign investment and investors through bilateral investment treaties (BITs) and multilateral and regional investment and free trade agreements. This protection includes the recourse of foreign investors to a unique form of arbitration against the host states, the so-called investor-state arbitration. The course will familiarize students with: the policy underlying investment treaties; the governing mechanisms and procedural rules; and the key jurisdictional issues and substantive principles and standards that apply to this form of arbitration.