COURSE UNIT TITLE

: MARITIME ECONOMETRICS

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
MBA 4043 MARITIME ECONOMETRICS ELECTIVE 3 0 0 5

Offered By

Maritime Business Administration

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR SADIK ÖZLEN BAŞER

Offered to

Maritime Business Administration (Evening)
Maritime Business Administration

Course Objective

This lecture concerns with formulating and understanding an econometric model suitable to theory of economics for marine industries, especially in the concept of costs.

Learning Outcomes of the Course Unit

1   To learn various applications and data analysis methods regarding maritime business
2   To understand materials and methods beyond that learnt in statistics lectures
3   To understand the theoretical foundations and limitations of econometric modeling and estimation
4   To be able to apply the techniques covered in the class with the real world data
5   To be able to utilize econometrics package softwares

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 The benefits of a macroeconomic approach to maritime industry Presentation
2 The theoretical foundations of the freight market Presentation
3 The shipyard, scrap, secondhand markets and investment under uncertainty Presentation
4 The efficiency of shipping markets and the efficient market hypothesis Presentation
5 The efficiency of freight markets, main and alternative tests of market efficiency Presentation
6 The efficiency of ship prices: tests and empirical evidence Presentation
7 Midterm Presentation
8 An economic interpretation of business cycles Presentation
9 Potential output estimation Presentation
10 Supply-led and expectations-led shipping cycles with Tinbergen-Koopmans and Beenstock-Vergottis model Presentation
11 The market structure of shipping and ship finance Presentation
12 The interaction of business cycles and shipping cycles in practice Presentation
13 Investment strategy and major decisions in shipping Presentation

Recomended or Required Reading

1. Karakitsos, E. and Varnavides, L. Maritime Economics A Macroeconomic Approach 1st Ed. Palgrave Macmillan, UK 2014
2. Goodwin, E. and Kemp, J. Marine Statistics Theory and Practice 1st Ed, London 1979
3. Barda, Süleyman. Ulaştırma Ekonomisi Dersleri. Menteş Kitabevi : Istanbul 1982
4. Berg-Andreassen, Jan A. (1966) Some Properties of International Maritime Statistics. Maritime Policy and Management, 23 (4)
5. Buxton, I.L. Engineering Economics and Ship Design. The British Shipping Research Association : Wallsend 1971
6. Evans, J.J. ve Marlow, Peter. Quantative Methods in Maritime Economics. Fairplay Publications : London 1990
7. Hale C. ve Vanags, A. (1989). Spot and Period Rates in The Dry Bulk Market : Some Tests for The Period 1980-1986. Journal of Trasport Economics and Policy, 23 (3)
8. Haralambides, Hercules E. (1996), The Economics of Bulk Shipping Pools. Maritime Policy and Management, 23 (3)

Planned Learning Activities and Teaching Methods

A number of applications and methods will be presented in the class that have broad applications to a variety of data-analysis in maritime economics and beyond. The material covered goes well beyond the techniques typically covered in statistics courses. While, the course will emphasize model estimation and application, the underlying theory and limitations will be discussed to ensure that the methods are properly applied and understood. The students will be able to apply the concepts learned in the class using real world data and will also learn econometric model development in softwares such as R, Matlab, Stata, Biogeme, Eviews, Limdep and SPSS.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MTE MIDTERM EXAM
2 ASG ASSIGNMENT
3 FINS FINAL EXAM
4 FCG FINAL COURSE GRADE MTE * 0.30 + ASG * 0.10 + FINS * 0.60
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.30 + ASG * 0.10 + RST * 0.60


Further Notes About Assessment Methods

None

Assessment Criteria

Knowledge, skills and competencies in research, examination, critics, application and presentation of econometrics using maritime industry data.

Language of Instruction

English

Course Policies and Rules

To be announced.

Contact Details for the Lecturer(s)

Assoc. Prof. Dr. Sadık Özlen Başer (02323018815)

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 12 2 24
Tutorials 12 2 24
Preparations before/after weekly lectures 12 2 24
Preparation for midterm exam 1 10 10
Preparation for final exam 1 20 20
Preparing presentations 1 20 20
Midterm 1 1 1
Final 1 2 2
TOTAL WORKLOAD (hours) 125

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10PO.11PO.12PO.13
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LO.25455445445455
LO.34445544554544
LO.45554454544444
LO.54544544545555