Course Name : Maritime Economics and Logistics

Degree: Graduate

Code

Year/Semester

Local Credits

ECTS

Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

DIE 513

 (Fall)

3

5

3

-

-

Department

DEPARTMENT OF MARITIME BUSINESS MANAGEMENT

Instructors

Dr. Tansel ERKMEN

Contact Information

e-mail: terkmen@pirireis.edu.tr

Office Hours

Tuesday. 1400-1600

Web page

http://www.pirireis.edu.tr

Course Type

 Compulsory

Course Language

English

Course Prerequisites

Basic Sciences

Basic Sciences

Maritime Science

Logistics

Humanities

10

50

40

Course Description

The program prepares students with modern economic and management tools for efficient decision-making, providing them at the same time with methods, concepts and theories to enable them to understand and analyze, the complexities of global maritime supply chains. The main topics of this course as introductory module in maritime problems of study are limited to; maritime transport components, maritime market study and instruments, maritime voyage operations and financing support, contract operations in shipping, merchandise expeditions and containerization procedures. A special attention is accorded to the operation of ships and port facilities from the technical and economic perspective. In this way, Piri Reis University graduates are expected to be able to act and make decisions, with managerial style and determination, under complex and uncertain conditions, in a global economic and societal environment.

Course Objectives

Understand, analyze and appraise:

• The role of Maritime sector in the economy, trade, society and welfare;
• Analyze and critically assess theories and trends in Maritime Economics and Logistics.
• To define and to interpret the major aspects related to maritime market evolution and its components
• To classify and to work with the main concepts regarding maritime transport financial procedures, including budgeting operation in terms of revenues and transport costs;
• The interconnectedness, implications and impacts of stakeholder decision making along the global maritime supply chain.
• To enumerate and to define the main components of maritime transports

Course Learning Outcomes

On successful completion of this course the student should be able to demonstrate:

1. Students should be equipped with some tools and methods of economic analysis that will serve to help for a more advanced research in Maritime economic and Logistics theory.
2. Student should have a good understanding to the fundamental principles of maritime economics.
3. Understand discussions of  maritime economic problems and issues in the popular  and business media.

Instructional Methods and Techniques

Lectures, discussion and problem sessions discussion, case study, problem-solving, methods of group work, individual and frontal methods for developing critical thinking

Tutorial Place

Class: Class time is primarily devoted to lectures.

Co-term Condition

-

Textbook

Martin Stopford, Maritime Economics, 3rd Edition, 2009, ISBN 0-203-89174-0 Master e-book ISBN

Other References

-

Homework & Projects

Homework will be written with accuracy focusing on the interpretation of the results of problem solving situations that allow the formulation of value judgments.

Laboratory Work

Computer Use

Other Activities

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

40

Quiz

Homework

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

1

20

Field Study

Final Exam

1

40

TOTAL

100%

Effects of Midterm on Grading, %

60%

Effects of Final on Grading, %

40%

TOTAL

100%

ECTS/

WORKLOAD TABLE

Activities

Count

Hours

Total

Workload

Lecture

14

3

42

Midterm

1

25

25

Quiz

Homework

Term Paper/Project

1

30

30

Laboratory Work

Practices

Tutorial

Seminar

Presentation

1

30

30

Field Study

Final Exam

1

30

30

Total Workload

157

Total Workload/25

157/25

Course ECTS Credits

6

Week

Topics

Course Outcomes

Week

Topics

Course Outcomes

Week 1, 2

Introduction to the course and to international logistics. Roles of transportation in logistics management.

I

Week 3

The key activities performed by the logistics function including distribution, transportation, global logistics and inventory control. Current challenges faced by supply chain professionals. Shipping as part of the global supply chain.

I-II

Week 4, 5

The gains from trade, International trade and fundamentals of market economics, economic efficiency. Analysis of the global seaborne trade. The shipping cycle elements. Geopolitical issues in shipping.

II-III

Week 6, 7

Economic analysis of the shipping industry. The economic features of maritime demand. The characteristics of liner and tramp shipping. Economics of liner shipping. Economics of bulk shipping. Demand fluctuations and chartering. Charter types and associated risks.

I-II-III

Week 8

Economic cost concepts - specific factors affecting the relationship between costs and shipping output. Capital costs and ship financing, operating costs, voyage cost and voyage cash flow analysis. Net Present Value (NPV). Bunker costs and fuel efficiency.

I-II-III

Week 9

Mid Term

Week 10

Capital costs and ship financing. Ship size and economies of scale/unit costs. Break-even costs of older ships.

II-III

Week 11

The relationship between profit maximization and optimal utilization. Financial performance examples and comparisons.

I-II-III

Week 12

Student Presentation

II-IV

Week 13

Student Presentation

III

Week 14

Final Exam

II-III-IV

Program Outcomes

Level of Contribution

1

2

3

a

Ability to analize the theoretical information in the area of maritime economics and management, and to assess their implications in implementation.

X

b

Ability to acquire distinctive information in the key aspects of the maritime business environment.

X

c

Ability to acquire knowledge by integrating information related to the field of maritime business and management into computerized environments.

X

d

Ability to present obtained information by employing the technical skills required by the field of maritime business and finance (such as in computerized environments) in Turkish or English.

X

e

Ability to employ knowledge related to the field of maritime business  and management  in decision-making, application, and the application of decisions.

X

f

Ability to produce multidisciplinary assessments and conduct analyses in harmony with the area of maritime business  and management  , related sub-fields, and other social science areas.

X

g

Ability to incorporate and accurately assess ethical and Professional responsibilities.

X

h

To be able to have leadership and management competencies that a manager and entrepreneur should have working at the international level.

X

i

To have a wide-range understanding for the incorporation of the effects of the field of maritime business  and management  in a global context.

X

j

Having acquired lifelong learning skills.

X

k

Having wide knowledge on contemporary topics.

X

l

To act in accordance with social, scientific, cultural and ethical values ​​and with the consciousness of social responsibility in various fields of international trade.

X

m

Having practical and theoretical technical knowledge for being able to obtain information and results  through data analysis.

X

Course

Outcomes

I

II

III

Programme Outcomes

a

b

c

d

e

f

g

h

i

j

k

l

m

Prepared by

              Dr.Öğr.Gör. TANSEL ERKMEN

Date

OCTOBER 2017

Signature