Course Name: Maritime Economics

Degree: Undergraduate

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

DIY 222

2/2 (Spring)

2

3

3

3

Department

Maritime Economics

Instructors

Dr. TANSEL ERKMEN

Contact Information

terkmen@pirireis.edu.tr

Office Hours

Mon. 1400-1600

Web page

www.pirireis.edu.tr

Course Type

 Compulsory

Course Language

English

Course Prerequisites

  -

Course Category by Content, %

Basic Sciences

Maritime Science

Maritime Transporttaion

Humanities

20

30

30

20

Course Description

The main purpose of this course for its graduates is to develop the competencies and corresponsive abilities in thinking and applying the major theories and techniques regarding the general science of transports, in area of maritime transport and port management, in order understand the ship/port operations, the harbours’ activity and shipyard industry particularities. 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, fluvial transports, and containerization procedures. A special attention is accorded to the operation of ships and port facilities from the technical and economic perspective All major aspects of shipping, ports, and other related sectors are comprehensively reviewed from an economic perspective. Discussions will focus on the key issues of maritime transport, such as the impact of economic development and trade on maritime transport, influential factors on ship demand and supply, the role of ports and maritime transport auxiliaries, shipping cost analyses, freight evolution and prediction, economics of maritime safety and environmental protection.

Course Objectives

It is expected that by the end of the course, students should have an in-depth understanding of maritime economics and be able to use economic tools to analyze the shipping market and to enhance the quality of decision-making in maritime related sectors. Besides explaining economic theories, the delivery of the subject will consist of discussions concerning concrete examples from current maritime transport practices.

1. to define the main components of maritime transports;
2. to understand Shipping market description and types of shipping, Environmental aspects of maritime transport
3. to know costs types of shipping,
4. to define and to interpret the major aspects related to maritime market evolution and its components;
5. to classify and to work with the main concepts regarding maritime transport financial procedures, including budgeting operation in terms of revenues and transport costs;
6. to define the main techniques in merchandise expeditions on sea
7. to organize the operational activities on board and on shore in maritime transports.

Course Learning Outcomes

1. Students should be equipped with recognizing ships types, describe most important parts of the ship and activities related to the ship; They should also know;
2. to describe correctly interpret and explain economic trends and occurrences in maritime transport
3. to understand differences between shipping pricing methods, changes in the freight rates and translate this into the specific situations
4. to understand and apply supply and demand analysis to maritime economic issues
5. to understand discussions of economic problems and issues in the popular  and business media.
6. to find out important problems in shipping lines and possible impact on own delivery demand
7. to deal with specific maritime conditions due to cargo transport suspecitbility
8. to classify and to work with the main concepts regarding maritime transport financial procedures, including budgeting operation in terms of revenues and transport costs
9. to define the main techniques in merchandise expeditions on sea and fluvial waters.

Instructional Methods and Techniques

Lecture, discussion and problem sessions

Tutorial Place

Class teaching

Co-term Condition

Textbook

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

Other References

The Blackwell Companion to Maritime Economics; Edited by Wayne K. Talley

Homework & Projects

Case Studies

Laboratory Work

Computer Use

Other Activities

Assessment Criteria

Activities

Quantity

Effects on Grading, %

Attendance

Midterm

1

30

Quiz

1

10

Homework

1

10

Term Paper/Project

Laboratory Work

Practices

Tutorial

Seminar

Presentation

Field Study

Final Exam

1

50

TOTAL

100%

Effects of Midterm on Grading, %

50%

Effects of Final on Grading, %

50%

TOTAL

100%

Week

Topics

Course Outcomes

Week 1, 2

The science of Maritime Transports, The economic particularities of maritime transports. Containerization, Multimodal transports

I

Week 3

Ports’ description: definition, infrastructure, Main harbor terminals

I-II

Week 4, 5

The major components of maritime transports: ships’ and merchandises’ description. Transport companies, Human resources in maritime transports

II-III

Week 6, 7

The international maritime market components, The international maritime market determinants – demand factors and supply.

II-III

Week 8

Maritime market equilibrium factors, The international labor maritime market

II-III

Week 9

MID TERM

Week 10

Major expenditures in maritime voyages

II-III

Week 11

Maritime freight and payment instruments in shipping

I-II-III

Week 12

Cost calculation methodologies in maritime transports

II-IV

Week 13

Maritime contracts – main types and provisions

III

Week 14

The management of maritime contracts - operational aspects (documents and procedures)

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

Prepared by

TANSEL ERKMEN

Date

Feb. 2017

Signature