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MAR8029 : Maritime Economics

  • Offered for Year: 2023/24
  • Module Leader(s): Professor D John Mangan
  • Lecturer: Dr Alessio Tei
  • Owning School: Engineering
  • Teaching Location: Newcastle City Campus
Semester 2 Credit Value: 10
ECTS Credits: 5.0


A1. To gain an understanding of economics principles and as applied to the maritime sector

Outline Of Syllabus

1. Macroeconomics of shipping (market organisation, economic variables, shipping demand & supply, macroeconomics), 2. Microeconomics of shipping (market competition, pricing, economic regulation, market efficiency, microeconomics), 3. Transport Economics (transport modes, sector competition, service organisation), 4. Environment and Society (external costs, labour, CBA, CSR), 5. Technology and Innovation (shipping innovations, market changes, shipping technologies), 6. Economic impact of companies’ strategy (competition authorities, economic regulation, market efficiency)

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion11:301:301.5 hour in-class written exam at the end of the block teaching week.
Guided Independent StudyAssessment preparation and completion117:3017:30Exam preparation.
Scheduled Learning And Teaching ActivitiesLecture83:0024:00Present-in-person
Scheduled Learning And Teaching ActivitiesSmall group teaching13:003:00Present-in-person
Guided Independent StudyIndependent study126:0026:00General revision, reading and post module consolidation of lecture notes
Guided Independent StudyIndependent study128:0028:00Pre-reading prior to module teaching and formative report
Jointly Taught With
Code Title
MAR8137Maritime Economics
Teaching Rationale And Relationship

The lectures are designed to assist students in the acquisition of a knowledge base that will facilitate understanding of economics principles and their application to the maritime sector (IKO1-3).

Independent study involves:
1.       Reading and consolidation of lecture notes
2.       consulting references from reading lists
3.       accessing market reports and statistical sources
4.       preparing a written report on a relevant maritime economics topic (ISO1).

Should the public health situation require it, the present-in-person teaching activities will be replaced by synchronous online sessions.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination902M10090 minute in-class written exam at the end of the block teaching week.
Formative Assessments
Description Semester When Set Comment
Report2MFormative report based on pre-module reading. Max 300 words.
Assessment Rationale And Relationship

The examination provides students with an opportunity to demonstrate knowledge, understanding and the possession of subject-specific, cognitive and key skills in relation to the subject matter. The medium also allows students to demonstrate intended learning outcomes across a wide range of topics within the syllabus since maritime economics has many dimensions.

Should the public health situation require it, the planned examination scheduled to be completed present-in-person will be replaced by an open book, online examination to be completed within a defined 24 hour period.

The formative assessment ensures that students become familiar with core concepts and topics in maritime economics prior to the module starting and thus ensuring that they can maximise their learning during the block teaching week.

Reading Lists