Postgraduate

MAR8137 : Maritime Economics (2) (Inactive)

Semesters
Semester 3 Credit Value: 10
ECTS Credits: 5.0

Aims

To provide an insight into the markets, economics and operational systems which are fundamental to the provision of waterborne transport.

Outline Of Syllabus

The module will cover the following topics:

1.       Introduction to marine transportation
2.       Introduction to basic economic theory
3.       Shipping supply and demand
4.       Shipping supply and demand
5.       Time value of money (regular cashflow patterns)
6.       Time value of money (irregular cashflow patterns)
7.       Time value of money (measures of merit - NPV, RFR, AAC, PBR, etc)
8.       Depreciation and tax
9.       Cost breakdown and voyage analysis
10.       Introduction to shipping market
11.       Shipping markets and commodities
12.       The tanker market (freight rates and contracts, WORLDSCALE index)
13.       The tanker market (equivalency and behaviour of freight rates)
14.       The tanker market (characteristics and structure of the market)
15.       The tanker market (FOB and CIF prices, optimisation)
16.       The tanker market (oil transportation network, minimisation of transportation cost)
17.       Dry bulk markets
18.       Liner market and container transportation

This module will include preschool reading, examples, a preschool assignment, an intensive school (five days), and a post school assignment.

Teaching Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion115:0015:00Exam preparation and working solutions
Guided Independent StudyAssessment preparation and completion17:307:30Assimilation of the Post School assignment
Guided Independent StudyAssessment preparation and completion11:001:00Exam in Intensive School
Guided Independent StudyAssessment preparation and completion115:0015:00Preparing, researching and assimilation of preschool assignment
Guided Independent StudyDirected research and reading111:0011:00Reading and researching Preschool materials
Guided Independent StudyDirected research and reading112:3012:30Researching Post School assignment and materials
Scheduled Learning And Teaching ActivitiesSmall group teaching133:0033:00Intensive School
Scheduled Learning And Teaching ActivitiesScheduled on-line contact time15:005:00Online discussions with students and Module Leaders on Blackboard
Total100:00
Teaching Rationale And Relationship

Students are encouraged to develop thier knowledge and understanding of the subject by independent reading for which they are given guidance in the distance learning material (IKO1). The preschool study is reinforced via lectures during the intensive school itself. The use of design during the intensive school and work-based assessments and application after the intensive school also enable the students to learn. Subject specific skills (e.g. IT and project planning) are developed via the distance learning material, which is delivered by a web-based system (blackboard). Cognitive skills (problem solving/decision making) are taught primarily through case studies and design classes, and developed through work based assignments. Key transferable skills (communication, time management, ability to work alone etc) are developed through work based pre- and post school assignments and via completion of the module itself, including the distance learning material (ISO1 - 9).

Assessment Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

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

Exams
Description Length Semester When Set Percentage Comment
Written Examination603M40unseen written exam - examined outside the normal timetable
Other Assessment
Description Semester When Set Percentage Comment
Prob solv exercises3M30Postschool problem solving exercises - no more than 7.5 hours
Report3M30preschool written report - no more than 15 hours
Assessment Rationale And Relationship

Knowledge and understanding are assessed via the unseen written examination and the written assignments. Subject-specific and cognitive skills are assed via design exercises and the module assignments, as are communication skills. The Graduate Skills Framework Skills indicated as 'A' are also assessed in this way.

Reading Lists

Timetable