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Abstract/Syllabus:

Kite-Powell, Hauke, 2.964 Economics of Marine Transportation Industries, Fall 2006. (Massachusetts Institute of Technology: MIT OpenCourseWare), http://ocw.mit.edu (Accessed 07 Jul, 2010). License: Creative Commons BY-NC-SA

Economics of Marine Transportation Industries

Fall 2006

Container ships docked in the Port of Felixstowe (UK). (Photo courtesy of Jeremy Quinn.)

Course Highlights

This course features a list of readings and examples of student work in assignments.

Course Description

This half-semester course studies the economics of the principal markets related to marine transportation, environment, and natural resources. Topics include structures of the markets and industries involved; competition; impacts of policies and regulations. The course analyzes the relationship among industries, markets, technologies, and national policies, and introduces the concepts of national income accounts, sustainability, and intergenerational equity and their relationship to current economic practice.

Syllabus

Prerequisites

14.01 or permission of instructor.

Textbooks and Readings

There is no required textbook for this course. Students are assigned various readings for each class session.

Assignments

Students are assigned two papers during the term. Associated with the second paper, each student also presents their findings in class during the last two sessions.

Grading Policy

ACTIVITIES PERCENTAGES
Written Assignments 50%
Class Participation 50%

Within the written assignments, the term paper carries twice the weight of the shorter assignment.

Calendar

LEC # TOPICS KEY DATES
Part I. Review of Economic Theory
1 Introduction and Overview  
2 Fundamentals of Market Economics: Supply and Demand, Elasticity, etc.  
3 Fundamentals of Market Economics (cont.): Common Property Resources, Economic Efficiency, Market Failure, etc.  
4

Economics of the Environment

The Time Value of Money

 
5

Economic Sustainability
Macroeconomics: National Income Accounting

 
Part II. Applications to Marine Industries
6 Shipping Markets and Cycles Written assignment 1 due
7

Bulk Shipping

LNG Shipping

 
8 Ship Charter/Purchase Decisions (Guest Lecture by Sydney Levine, Shipping Intelligence Inc.)  
9 Shipping and the Environment: Tanker Spills, Right Whales  
10

Liner Shipping and Ports
FPSOs, Fast Ferries, Fast Freight Ships

 
11 Shipping Finance, Risk and Return (Guest Lecture by Kevin Hazel, Marsoft Inc.)  
12

Student Presentations
Course Evaluation

 
13

Student Presentations (cont.)
Course Wrap-up

Written assignment 2 due



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