Course Name : MTME 513  MARITIME ECONOMICS

Degree: Master of Science Degree (MSc)

Code

Year/Semester

Local Credits

ECTS Credits

Course Implementation, Hours/Week

Course

Tutorial

Laboratory

MTME 513

2018-2019/1

3

5

3

--

--

Department

Maritime Transportation and Management Engineering

Instructor

Contact Information

Office Hours

Web page

http://www.pirireis.edu.tr

Course Type

Elective

Course Language

English

Course Prerequisites

---

Course Category by Content, %

Basic Sciences

Engineering Science

Engineering Design

Humanities

60

20

20

Course Description

The emphasis of the course is to provide a framework and opportunity to discuss advanced topics of maritime economy from the beginning of maritime history and sea transport issues as well as shipping and all of the maritime related applications on maritime sector.

Course Objectives

Benefiting from the maritime history, to introduce the organization of the shipping market and shipping market economics, shipbuilding, marine resources, marine fisheries, maritime tourism and services; understanding the basic principles of maritime issues and making comments about the relations among  maritime industrial sector.

Course Learning Outcomes

Upon the successful completion of the MTME 513 “Maritime Economics” course, students will be able to:

I. Comprehend  the history of  maritime development;  the origins of sea trade, the global economy in the 15 th century, opening up global trade and commerce (1450-1833), liner and tramp shipping (1833-1950), container, bulk and air transport (1950-2006), lessons from 5000 years of commercial shipping.

II. Explain milestones of the economy, describe and analyze sea transport and global economy  (merchant shipping, naval shipping, cruise industry and ports), understand shipbuilding and marine engineering,

III. Evaluate elements of ship finance, understand the principles of maritime trade,

IV. Shipping market cycles, other marine activities, mainly tourism and services

Instructional Methods and Techniques

Lecture and student presentations

Textbook

Martin STOPFORD, Maritime Economics, third edition, 2009, Routledge ISBN10: 0-415-27557-1 (hbk), ISBN13: 978-0-415-27557-6 (hbk)

Other References

1. The Handbook of Maritime Economics and Business, Second Edition, edited by Costas Th. GRAMMANOS, Lloyd List, London, 2010, ISBN: 978-1-84311-880-0.

2. Ship Sale and Purchase, sixth edition, 2012, Iain GOLDREIN QC, Matt HANNAFORD, Paul TURNER, Routledge, Taylor & Francis Group, London and New York, ISBN 978-1-84214-587-6.

3. Yuval Noah HARARİ, “Homo Sapiens”, Kolektif Kitap Bilişim ve Tasarım Ltd.Şti., 2016, İstanbul. ISBN: 978-605-5029-35-7.

4. Beughen, S. (2004) Shipping Law (Cavendish Publishing Ltd).

5. Braudel, F. (1982) Civilisation and Capitalism 15th–18th Century, Vol. 2: The Wheels of Commerce (London: Collins).

6. Cullinane, Kevin (2005) Shipping Economics (Research in Transportation Economics) (Greenwich, CT: JAI Press).

7. Drury, C. and Stokes, P. (1983) Ship Finance: The Credit Crisis (London: Lloyd’s of London Press).

8. Gold, E. (1981) Maritime Transport: The Evolution of International Maritime Policy and Shipping Law (Lexington, MA: D.C. Heath).

9. Haws, D. and Hurst, A.A. (1985) The Maritime History of the World, 2 vols (Brighton: Teredo).

Homework & Projects

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Laboratory Work

---

Computer Use

---

Other Activities

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Assessment Criteria

Activities

Quantity

Effects on Grading

Attendance

Mid-term

Quiz (Preparation for Mid-term and Final Exams)

Homework

1

---

Term Paper

1

30 %

Laboratory Work

Practices

Tutorial

Seminar

Presentation

2

20%

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

1

Comprehend  the history of  maritime development;  the origins of sea trade, the global economy in the 15 th century,

I

2

Comprehend  the history of  maritime development;  the origins of sea trade, the global economy in the 15 th century,

I

3

Comprehend  the history of  maritime development;  opening up global trade and commerce (1450-1833), liner and tramp shipping (1833-1950),

I

4

Comprehend  the history of  maritime development;  container, bulk and air transport (1950-2006), lessons from 5000 years of commercial shipping.

I

5

Milestones of The Economy (comprehend money, banking system, credit system, finance, capitalism, power of huge companies)

II

6

Organization of the shipping market. Describe and analyze sea transport and global economy (merchant shipping, naval shipping, cruise industry and ports)  (Overview of the maritime industry; The international transport industry; Shipping cycles and shipping risk),

II

7

STUDENT PRESENTATIONS.  Organization of the shipping market. Describe and analyze sea transport and global economy (merchant shipping, naval shipping, cruise industry and ports)  

II

8

Organization of the shipping market. Describe and analyze sea transport and global economy (merchant shipping, naval shipping, cruise industry and ports) (Supply, demand and freight rates; The four shipping markets).

II

9

STUDENT PRESENTATIONS. Organization of the shipping market. Describe and analyze sea transport and global economy (merchant shipping, naval shipping, cruise industry and ports)  (Supply, demand and freight rates; The four shipping markets),

II

10

Evaluate elements of ship finance, analyze seaborne trade and transport systems, including the principles of maritime trade,

III

11

Evaluate elements of ship finance,  understand shipbuilding (merchant and naval) and marine engineering,

• The economics of shipbuilding and scrapping
• The regulation of the maritime industry

III

12

STUDENT PRESENTATIONS. Evaluate marine resources, which include offshore oil, gas, renewable energy and minerals;  Understand marine fisheries, including aquaculture and seafood processing

III

13

DELIVERING OF THE TERM PAPERS TO THE LECTURER. Shipping market cycles, other marine activities, mainly tourism and services (Research & Development, marine services (such as insurance, shipbroking, banking, legal services, classification and publishing), marine IT, marine biotechnology, ocean survey, Education & Training, submarine telecoms)

IV

14

SHORT PRESENTATIONS OF THE TERM PAPERS.

Commenting on interrelationships among the marine segments that are involved in the maritime industrial sector.

IV

ECTS/

WORKLOAD TABLE

Activities

Count

Hours

Total

Workload

Lecture

14

3

42

Midterm

Quiz

Homework

1

8

8

Term Paper/Project

1

18

18

Laboratory Work

Practices

Tutorial

Seminar

Presentation

2

18

36

Field Study

Final Exam

1

8

8

Total Workload

112

Total Workload/25

112/25

Course ECTS Credits

5

Program Outcomes

Level of Contribution

1

2

3

a

An ability to apply knowledge of mathematics, science, and engineering

x

b

An  ability to design and conduct experiments, as well as to analyze and interpret data

c

An ability to design a system, component or process to meet desired needs

x

d

Ability to function on multi-disciplinary teams

x

e

An ability to identify, formulate, and solve engineering problems

x

f

An understanding of professional and ethical responsibility

x

g

An ability to communicate effectively

x

h

The broad education necessary to understand the impact of engineering solutions in a global and societal context

i

A recognition of the need for, and an ability to engage in life-long learning

x

j

A knowledge of contemporary issues

x

k

An ability to use the techniques, skills and modern engineering tools necessary for engineering practice

l

An ability to apply legal, societal and environmental knowlegde in maritime transport and in all respective modes of transport operations.

x

m

An ability to interpret and analysis of the data regarding maritime management and operations, recognition and solution of problems for decision making process.

x

Course

Outcomes

I

II

III

IV

Programme Outcomes

a

x

b

x

c

x

x

x

x

d

x

x

x

e

x

f

x

x

x

x

g

x

x

x

x

h

x

i

x

x

x

x

j

x

x

x

x

k

x

l

x

m

x

x

x