FOR18 Maritime Economics

• Topics

  The main objective of the course is to give students a solid background on the economic aspects of maritime transportation, a broad knowledge of the international shipping industry, and an introduction of present state of challenges in the business.

  Topics:

  • Seaborne trade and transport systems.
  • Maritime transportation market segments.
  • Market cycles, supply and demand economics.
  • Shipping company cost, revenue and cashflows.
  • The economics of shipbuilding and scrapping.
  • Regulatory framework of the maritime industry.

• Learning outcome

  Knowledge

  Upon completing the course students

  • Understand the importance of international shipping in the world economy.
  • Understand the market drivers of the shipping business.
  • Have a fundamental knowledge of how the industry evolves.

  Skills

  Upon completing the course students can

  • Identify and analyse the fundamental drivers for maritime transportation.
  • Refer to information and present matters that are influenced by maritime transportation.
  • Reflect upon the challenges facing by the international shipping industry.

  General competence

  Upon completing the course students

  • Can communicate and exchange opinions with others with a background in the field.
  • Have insight into the fundamental drivers of the international shipping industry.

• Teaching

  Teaching consists of lectures, case studies, assignments, and group work.

  Lectures will be in the auditorium. Video recording might be available after lectures.

  We will in any case take advantage of digital teaching platforms, including mlecs.com which has been made for the textbook.

• Recommended prerequisites

  There are no requirements regarding previous courses, but students are expected to have some knowledge of the main theories and concepts in business and economics.

• Credit reduction due to overlap

  None.

• Compulsory Activity

  Quiz for the purpose of course approval.

• Assessment

  20% class participation, individual based.

  30% group presentation, in groups of 2-4 students.

  50% oral exam, individual based (15 minutes for each student).

  An assessment in FOR18 will not be organised in the the non-teaching semester. As of autumn 2023, only mandatory bachelor courses with an individual assessment will have an assessment in the non-teaching semester. This only applies to students with a valid course approval. The retake options that apply at all times are decided by the dean for the bachelor program and will be published in the course description.

• Grading Scale

  A-F

• Literature

  Stopford, M. (2013): Maritime Economics, 3rd edition, London, Routledge.