SAM18 Maritime History and Economics
This is an applied course, where maritime history and theories from maritime economics are used to shed light upon the current state and future development of the shipping industry. Some of the topics are factual, for instance maritime history in a long-term perspective, the shipping industry today, market segments, maritime policy and regulation and the Norwegian maritime industry. At the same time the course has a theoretical aspect, where we deal with things such as shipping costs and revenues, the four markets of shipping, shipping cycles and shipping risk.
The main objective of the course is to give students a broad knowledge of the history and mechanisms of the international shipping industry. This includes the importance of the industry in the world economy, the economic aspects of the industry, policy and environmental issues and the main challenges facing shipping companies.
At the end of the course students will have;
- broad knowledge of the international shipping industry
- knowledge on research and development work in the fields of maritime history and maritime economics
At the end of the course students will;
- be able to present the main markets for ships and shipping services
- be able to reflect upon the challenges facing shipping companies
- be able to find, evaluate and refer to information and scholarly subject matter and present it in a manner that sheds light on the mechanisms of this industry
- masters relevant theoretical approaches to shipping
At the end of the course students;
- will have insight into the driving forces in the shipping industry - both today and historically
- can communicate important aspects of the shipping industry (theories, problems and solutions), both in writing and orally
- can exchange opinions and experiences with others with a background in the field, thereby contributing to the development of good practice
- will have competence in new thinking and innovation processes, including economic, political and ethical issues relevant to shipping
Lectures, assignments, group work, excursion, industry visit.
Please note that due to the corona situation, there might have to be some amendments to the regular programme. This might apply to the industry visit, the museum excursion and regular lectures.
We will take advantage of the digital learning platform that has been made for the textbook (mlecs.com), and students are expected to register there.
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. It is therefore suggested that students do not take this in their first semester unless they have such knowledge.
Requirements for course approval
Two short individual assignments, one group term paper/ presentation and two pieces of "homework".
Every week, students are given one "smallish" piece of homework, which should take no more than 45 minutes to do properly. This can be commenting upon an article from the press, discussion of terms or segments, applying theory to real life situations, reflection pieces, etc. The "homework" is generally voluntary, but strongly encouraged. Still, students have to complete - on time (ie during the specific week) - two of the ten pieces of homework.
Retake: course approval from previous semesters is valid, even though the requirements for course approval might change.
Individual oral exam.
Duration: 15 minutes.
If necessary, the exam will be conducted via Skype/ Zoom/ Teams or similar arrangements.
Grading scale A - F.
None, though students are encouraged to bring a smartphone, laptop or tablet to class.
Stopford, Martin (2009) Maritime Economics, 3rd edition, London, Routledge (selected chapters - see lecture plan).
In addition, material provided in lectures and via Canvas (lecture notes, lecture slides, newspaper articles, supplementary literature, etc.) and the term papers are required reading.
- ECTS Credits
- Teaching language
Professor Stig Tenold, Department of Economics.