Course Details

1. Develop an understanding of the inner workings of the international trade.
2. Discuss the basics of the international trade theories, how sea trade is formed and regulated and what norms prevail in the global markets of sea transported goods.
3. Identify and contrast the different global trading patterns from colonization to globalization.
4. Evaluate contemporary trading practices including protectionism, discrimination and other trading patterns.
5. Analyze relevant EU rules and concepts regarding intra EU transportation schemes, EU applied projects and EU funds aiming at achieving cohesion.
6. Analyze the meaning and the components of Balance of Payments and its importance for the competitiveness and development

Lecture 1: From Colonization to Globalization (the transformation of the global economic and trading environment), Historical Evolution of Transportation  

Lecture 2: World Seaborne Trade Patterns (an overview on the global GDP and the significant role of the international seaborne trade) - INCOTERMS

Lecture 3: The Balance of Payments (Analysis of the Current Account, the Capital Account, the Official Reserve Account

Lecture 4: Current Account Surplus – Deficit (selected Country Profiles and Analysis)

Lecture 5: The Exchange Rates (determination, equilibrium, shifts in currency demand and supply, appreciation and depreciation)

Lecture 6: Mid – Term Exams

Lecture 7: International Trade theories & Statistics - Risks in International Trade – Active Trade Blocks

Lecture 8: International Trade and Commodities – Students Presentations

Lecture 9: Key Indicators of the Labour Market (KILM) – The significant role of the labour force in the global context

Lecture 10: “Round the World”, “Just in Time” “Door to Door” trading schemes

Lecture 11: Short Sea Shipping – EU Policy and the meaning of the “Motorways of the Seas” EU Initiative

• Martin Stopford, Maritime Economics, Routledge 1997

• Martin Stopford, Maritime Economics, 3rd Edition, 2009
• Paul R. Krugman & Maurice Obstfeld, International Economics, 6th Edition, 2003
• Emm. Nikolaidis: Notes concerning fundamental International Trade & Sea Transport concepts, 2010
• Grammenos Costas, The Maritime Economics and Business Handbook, 2002
• Kyle Bagwell & Robert W. Staiger, The Economics of the World Trading System, MIT Press, 2003
• Wilfred J. Ethier, Modern International Economics, 3rd Edition, 1995
• Goss R. Advances in Maritime Economics, Cambridge University Press, 1997
• Schiller, Bradley R. The Macroeconomy Today, 4th Edition
• Stuart Cole, Applied Transport Economics: Policy, Management & Decision Making, The Chartered Institute of Logistics and Transport, 2005
• Kenneth J. Button Transport Economics EE 1993
• Kyle Bagwell & Robert W. Staiger The Economics of the World Trading System MIT Press 2003

Lectures, discussions, presentations, assignments.

Auditory exercises and questions related to particular open-ended topic issues are compiled by the students and answered, during the lecture or assigned as homework.

Topic notes are compiled by students during the lecture which serve to cover the main issues under consideration. Students are also advised to use the subject’s textbook or reference books for further reading and practice in understanding topic issues. Further literature search is encouraged by assigning students to identify a specific problem related to some issue, gather relevant scientific information about how others have addressed the problem and report this information in written or orally (scope of assignment).

Students are assessed continuously and their knowledge is checked through midterm exams with their assessment weight, date and time being set at the beginning of the semester via the course outline.

Students are prepared for final exam, by revision on the matter taught, and are also trained to be able to deal with time constraints and revision timetable.