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2025/2026  BA-BISHO1001U  Introduction to Maritime Economics

English Title
Introduction to Maritime Economics

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Quarter
Start time of the course Autumn, First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for Global Relations
Course coordinator
  • Michele Acciaro - Department of Strategy and Innovation (SI)
Main academic disciplines
  • Management
  • Supply chain management and logistics
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 27-05-2025

Relevant links
Learning objectives
At the end of the course students should be able to:
  • Discuss how shipping is related to international trade and how international trade affects shipping
  • Identify drivers of demand and supply in the main shipping markets
  • Introduce theories and models from micro- and macroeconomics to the study of shipping markets
  • Identify and critically assess factors which determine business opportunities in international shipping
Examination
Introduction to Maritime Economics:
Exam ECTS 7,5
Examination form Oral exam
Individual or group exam Individual exam
Duration 20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Preparation time With the listed preparation time: 20 Minutes
Grading scale 7-point grading scale
Examiner(s) Internal examiner and external examiner
Exam period Autumn
Aids Closed book
The student is only allowed to bring simple writing and drawing utensils (non-digital) to the preparation room. Students are not allowed to communicate with others during the preparation time.
Make-up exam/re-exam
Same examination form as the ordinary exam
Description of the exam procedure

During the oral exam, students will answer one question and discuss one topic, both of which are based on the course syllabus. Students will have approximately 20 minutes in a invigilated preparation room to organize their thoughts before the exam begins.

 

Just before the beginning of the preparation time each student will be assigned randomly a question from a pool of 100 questions and will select one topic out of a randomly assigned group of five topics. For the topic, students will draw a set of five options from a pool of 10 sets. From this set of five, students are free to choose the topic they wish to focus on during the oral exam.

 

This selection process ensures that students can engage with a topic they feel most confident about, while also demonstrating their knowledge of the entirety of the course syllabus.

 

Read about CBS Rules for Online Exams at mycbs.dk
Course content, structure and pedagogical approach

The course provides a comprehensive introduction to the economics and management of international shipping, with the primary aim of equipping students with a thorough understanding of shipping markets and their vital role in global trade. Emphasizing both recent developments and future challenges, the course integrates theories from micro- and macroeconomics to analyze shipping markets and their dynamics.

 

Students will gain the skills to identify and critically evaluate the key factors influencing business opportunities in international shipping. Topics covered include the relationship between shipping and global trade, the structure and functioning of the four primary shipping markets, and the cyclical nature of shipping, including forecasting methodologies. The course focuses on the specific economics of dry bulk, tanker, and liner shipping, alongside an exploration of maritime finance, risk management, and the regulatory framework governing international shipping.

 

Additionally, the course examines national shipping policies, the growing trends of outsourcing and ship management, and the principles of quality shipping. A strong focus is placed on the transition to green shipping, emphasizing sustainability and innovation as central to the future of the industry. Through these topics, students will develop a comprehensive understanding on the complexities of international shipping and the strategic approaches needed to deal with its challenges.
Research-based teaching
CBS’ programmes and teaching are research-based. The following types of research-based knowledge and research-like activities are included in this course:
Research-based knowledge
  • Classic and basic theory
  • Teacher’s own research
  • Models
Research-like activities
  • Discussion, critical reflection, modelling
  • Read and find academic literature.
Description of the teaching methods
This course offers an engaging and dynamic learning experience, combining traditional lectures with interactive elements that bring the world of international shipping to life. While the core of the course is delivered through frontal lectures, students will also dive into short case studies, participate in lively class discussions about the shipping industry and its latest developments, and analyse recent news to connect theoretical concepts with real-world scenarios. Practical exercises and quizzes add an interactive dimension, allowing students to test their knowledge and apply what they’ve learned in an exciting and collaborative environment.
Feedback during the teaching period
As an optional opportunity for feedback, students have the opportunity to submit two written short home assignments and receive either oral or written feedback during class or by email. The first assignment is a group project, allowing 2 to 4 students to collaborate and develop their ideas collectively. The second assignment can be submitted individually or in groups where each student clearly marks their contribution, enabling students to showcase their personal understanding and analytical skills. These assignments have the objective to give students confidence about their learning, to practice applying course concepts, and benefit from constructive feedback to enhance performance.
Student workload
Lectures on campus 42 hours
Exam and preparation 34 hours
Course preparation 130 hours
Expected literature

This is an indication of the literature from previous years. Students will be provided with an updated literature list at the beginning of the course:


- Acciaro, M., & McKinnon, A. (2020). International shipping and climate change: Policy responses and implications for the maritime industry. In Geographies of Maritime Transport (pp. 312-329). Edward Elgar Publishing. 
- Esty, B., & Fisher, D. (2019). Hapag-Lloyd AG: Complying with IMO 2020. HBS Case, (720-713).
- Gourdon, K., & Steidl, C. (2019). Global value chains and the shipbuilding industry. OECD Science, Technology and Industry Working Papers. 
- Kaukiainen, Y. (2014). The role of shipping in the ‘second stage of globalisation’. International Journal of Maritime History, 26(1), 64-81. 
- Lee, E. S., & Song, D. W. (2010). Knowledge management for maritime logistics value: Discussing conceptual issues. Maritime Policy & Management, 37(6), 563-583. 
- Lister, J. (2015). Green shipping: Governing sustainable maritime transport. Global Policy, 6(2), 118-129. 

- Ma, S. (2020). Economics of Maritime Business. Routledge. 
- Sampson, H., & Ellis, N. (2021). Stepping up: The need for proactive employer investment in safeguarding seafarers’ mental health and wellbeing. Maritime Policy & Management, 48(8), 1069-1081. 
- Stopford, M. (2008). Maritime economics 3e. Routledge.
- Strandenes, S. P., & Thanopoulou, H. A. (2020). GDP and international seaborne trade: Past trends, present breaks and future directions. In Geographies of Maritime Transport (pp. 33-48). Edward Elgar Publishing. 
- Tavasszy, L., Behdani, B., & Konings, R. (2017). Intermodality and Synchromodality. In Ports and Networks (pp. 251–266). https:/​/​doi.org/​10.4324/​9781315601540-16
- Yuen, K. F., & Thai, V. (2017). Barriers to supply chain integration in the maritime logistics industry. Maritime Economics & Logistics, 19(3), 551-572.
- Muslu, A. (2020). The future of seafarers and the seafarers of the future from the perspective of human resources management. In Contemporary global issues in human resource management (pp. 219-237). Emerald Publishing Limited. 
Last updated on 27-05-2025