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IBB University, Lapai, Niger State

For graduation, candidates must satisfy the basic graduation requirements of the IBBUL
Programme
B. Sc. Maritime
Economics and Finance

Mode of
Entry
100 level
UTME
41
DE

Number of Units
200 level 300 level 400 level
38
38
36
46
38
36

Minimum Number of credit Units Required for Graduation


Mode of Entry
Minimum Credit Units
UTME

153/154

DE

118/119

Registration Guidelines
CRITERIA

Maximum Credit Unit per Semester

CGPA OF less than 1.00


CGPA between 1.00 1.49
CGPA between 1.50 2.39
CGPA between 2.40 and above

Grading System
Percentage (%) Score
70 100
60 69
50 59
45 49
00 44

15
18
21
24

Grade

Grade Points
A
B
C
D
F

5
4
3
2
0

Total
153
120

IBB University, Lapai, Niger State


Class of Degree
Class

Range

First class

4.50 5.00

Second Class Upper

3.50 4.49

Second Class Lower

2.40 3.49

Third Class

1.50 2.39

The Programme
100 LEVEL
First Semester: Register All
COURSE
COURSE TITLE
CODE
MEF 111
Principles of Maritime Economics I
MEF 112
Introduction to Maritime Statistics I

CREDIT
UNITS
2
2

STATUS
Core
Core

MEF 113

Introductory Mathematics for Economists I

Core

ACC 101
BUS 101

Introduction to accounting I
Introduction to Business I

3
3

Core
Core

MTH 101

Elementary Mathematics

Core

CSC 101

Introduction to Computer

Core

GST 101

Communication in English I

Core

GST 103

Logic Philosophy and Human Existence


TOTAL

2
22

Core

GRAND TOTAL

22

IBB University, Lapai, Niger State


Second Semester: Register All
COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 121
MEF 122
MEF 123
ACC 102
BUS 102
CSC 102
GST 102

Principles of Maritime Economics II


Introduction to Maritime Statistics II
Introductory mathematics for Economics II
Introduction to Accounting II
Introduction of Business II
Fundamentals of Computing
Communication in English II

2
2
2
3
3
3
2

Core
Core
Core
Core
Core
Core
Core

GST 104

Use of Library, Study, Skills and ICT

Core

TOTAL

19

GRAND TOTAL

19

200 LEVEL
First Semester: Register All
COURSE
COURSE TITLE
CODE
MEF 211
MEF 212
MEF 213

CREDIT
UNITS

STATUS

2
2
2

Core
Core
Core

MEF 214

Introduction to Maritime Microeconomics I


Introduction to Maritime Macroeconomics I
History and Structure of the Nigerian Maritime
Industry I
Elements of Statistics I

Core

MEF 215

Maritime Business Mathematics

Core

MEF 216
MEF 217
MEF 218

Maritime Labour Economics


Maritime Finance
Element of Shipping Economics

2
2
2

Core
Core
Core

GST 203

History and Philosophy of Science

Core

TOTAL

18

GRAND TOTAL

18

IBB University, Lapai, Niger State


Second Semester: Register All
COURSE
COURSE TITLE
CODE
MEF 221
MEF 222
MEF 223

CREDIT
UNITS

STATUS

2
2
2

Core
Core
Core

MEF 224

Introduction to Maritime Microeconomics II


Introduction to Maritime Macroeconomics II
History and Structure of the Nigerian Maritime
Industry II
Elements of Statistics II

Core

MEF 225

Principles of Shipping and Administration

Core

MEF 226
MEF 227
GST202

Maritime Business Mathematics II


Principles of Maritime Insurance
Introduction to Entrepreneurial Skills I
TOTAL

2
2
2
16

Core
Core
Core

ELECTIVES: Register at least four (4) credit units


COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 228

Human Resources Development

Elective

MEF 229

Cabotage Operations

Elective

MEF 240

Port Strategy and Development

Elective

TOTAL

GRAND TOTAL

20

IBB University, Lapai, Niger State


300 LEVEL
First Semester: Register All
COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 311
MEF 312
MEF 313
MEF 314

Intermediate Microeconomics I
Intermediate Macroeconomics I
Research Methods in Maritime Studies
Port and Terminal Operations

2
2
2
2

Core
Core
Core
Core

MEF 315

Maritime Project Evaluation I

Core

MEF 316

Maritime Safety and security

Core

MEF 317

Maritime Navigation

Core

GST 301

Introduction to Entrepreneurial Skill II

Core

TOTAL

16

ELECTIVES: Register at least four (4) credit units


COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 318
MEF 319

International Maritime Economics


Operational Research

2
2

Elective
Elective

MEF 320

Maritime Financial Management


TOTAL

2
4

Elective

GRAND TOTAL

20

Second semester: Register All


COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 321
MEF 322

Intermediate Microeconomics II
Intermediate Macroeconomics II

2
2

Core
Core

MEF 323
MEF 324

Maritime policy
Introductory Econometrics

2
3

Core
Core

MEF 325
MEF 326

Quantitative Methods in Maritime Studies


Shipping Finance

3
2

Core
Core

MEF 327

Maritime Projects Evaluations II

Core

TOTAL

16

IBB University, Lapai, Niger State


ELECTIVES: Register at least two (2) credit units
COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 328

Applied Monetary Economics

Elective

MEF 329

Political Economy of Maritime Environment

Elective

MEF 340

Management of Sea Environment


TOTAL

2
2

Elective

GRAND TOTAL

18

400 LEVEL
First Semester: Register All
COURSE TITLE
COURSE
CODE
MEF 411
MEF 412
MEF 413
MEF 414
MEF 415
MEF 416
MEF 417
MEF 418

Economics of Water Transport


Management of Maritime Organisation
Maritime Law and Policies
Taxation and fiscal Policy
International Trade
Maritime Information Technology
Chartering
Ship and Cargo Handling
TOTAL

ELECTIVES: Register at least two (2) credit units


COURSE
COURSE TITLE
CODE
MEF 419
Shipping and Management accounting
MEF 430
On-Shore-Off-Shore Economics
MEF 431
Industrial Relations and Personnel management
TOTAL
GRAND TOTAL

CREDIT
UNITS
2
2
2
2
2
2
2
2
16
CREDIT
UNITS
2
2
2
2
18

STATUS

Core
Core
Core
Core
Core
Core
Core
Core

STATUS
Elective
Elective
Elective

IBB University, Lapai, Niger State


Second Semester: Register All
COURSE
COURSE TITLE
CODE

CREDIT
UNITS

STATUS

MEF 421
MEF 422
MEF 423
MEF 424

Advanced Microeconomics II
Advanced Macroeconomics II
Inland waterways
Issues in International Maritime Operations

2
2
2
2

Core
Core
Core
Core

MEF 425
ECO 426

Maritime Planning
Research Project
TOTAL

2
6
16

Core
Core

ELECTIVES: Register at least two (2) credit units


COURSE
COURSE TITLE
CODE
MEF 427
MEF 428
MEF 429

Advanced Mathematical Economics


Shipping Economics and Management
Port Agency
TOTAL
GRAND TOTAL

CREDIT
UNITS
2
2
2
2
18

STATUS
Elective
Elective
Elective

IBB University, Lapai, Niger State


COURSE DESCRIPTION
100 LEVEL
1.
MEF 111: Principles of Maritime Economics I (2 units)
An introduction to the various issues on maritime economics ; The nature of maritime
economics as a science, significance, and branches of maritime economics; Methodology of
maritime economics (basic tools of shipping economic analysis); Major findings in the various
areas of maritime specialization; Development of pertinent economics concepts and their
application to marine policy, e.g. local and international shipping, managerial skills, Market
volatility, operational solution ,capital concentration, costs functions, logistics and efficiency,
labour wages and employment,
2.
MEF 112: Introduction to Maritime Statistics I (2 Units)
Definition and scope of statistics; Use of statistics in everyday life; Levels of measurement in
social sciences distributions and comparisons; types and techniques of data presentation;
sources and nature of published data in Nigeria and their uses and limitations; methods of
collecting data: census and surveys; population and sample;
3.
MEF 113: Introduction to Mathematics for Economists (2 UNITS)
Mathematical concepts in the social science; Set theories; Factors and exponents, logarithm,
trigonometry, equations, function, progressions, co-ordinate geometry; Trigonometric
functions and their inverse; Inequalities, matrix algebra and differentiation.
4.
MEF 121: Principles of Maritime Economics II (2 units)
Contribution of maritime to National income accounting, Marine policy decision making,
concepts and controversies of growth and development of wetlands, Elements of international
marine trade and payments, Elements of marine finance, private and public debt, and financial
administration, objectives of fiscal policy
5.
MEF 122: Introduction to Maritime Statistics II (2 Units)
Measures of central tendency and dispersion the unit normal distribution, Standard and
normal distribution, Element of Probability theory, Index numbers, fundamental statistics used
in business and logistics
6.
MEF 123: Introduction to Mathematics for Economists II (2 Units)
introduction to calculus, exponential and logarithmic functions, economic applications; Implicit
functions, differentials, permutation and combinations; Algebra, additions, subtractions,
multiplications and divisions of algebraic terms, monomials, binomials and polynomials.

IBB University, Lapai, Niger State


200 LEVEL
1.
MEF 211: Introduction to Maritime Microeconomics I (2 Units)
Microeconomic analysis of maritime regulation, problem of social cost, scarce resources
allocation and allocation of resources in product and factor markets with application to Nigeria
and other economics Equilibrium concepts: possibility of disequilibrium, partial and general
equilibrium analyses; maritime Supply and demand chains.
2.
MEF 212: Introduction to Maritime Macroeconomics I (2 Units)
Macroeconomic theory, national income accounting in coastal and oceanic zones,
macroeconomic aggregates of wetland and fisheries; The classical system; The Keynesian
system, the monetarist system; Domestic economic stabilization; Monetary and fiscal policies;
Domestic Economic Stabilization.
3.
MEF 213: Structure of the Nigerian Maritime Industry I (2 Units)
Historical perspective; Role of maritime industry, list of maritime industry; banking and
international trade in Nigerias maritime industry; Organization and structure of the maritime
industry; Distribution and marketing; Growth of income, employment, wages and prices.
4.
MEF 214: Element of Statistics I (2Units)
The role and significance of statistics in Social Science research; The logical and bias of
inferential statistics (sampling design and election); sampling distribution, point and interval
estimates of parameters. Probability theory and probability distribution, normal distribution
and random variables, binomial, poison, and hyper geometric distribution, set theory and
combinational methods, exception and moments; probability and sampling application;
frequency distribution, measures of central tendency and dispersion.
5.
MEF 215: Maritime Business Mathematics (2 Units)
Basic Algebra, Matrix Algebra-simultaneous equation, linear programming-formulation and
graphical solution, linear programming-formulation and simplex method.
6.
MEF 216 Maritime Labour Economics (2 Units)
Theoretical and empirical analysis of the labour markets, determinant of maritime labour
supply and demand, human capital investment in maritime, pattern of compensation, nature of
maritime employment contract and incentives, labour market dynamics in maritime sector.
7.
MEF 217: Maritime Finance (2 Units)
Maritime Finance and Maritime financial managers, opportunity cost of capital and time value
of money, Present value, simple and compound interest and applications, alternative methods
for marine investment appraisal.

IBB University, Lapai, Niger State


8.
MEF 218 Elements of Shipping Economics (2 Units)
Historical development in ship construction, ships types and cargo types, different functions
within the ship owing company, classification societies, basic commodity trade and commercial
geography, shipping market and cycles.
9.
MEF 221: Introduction to Maritime Microeconomics II (2 Units)
Role of microeconomics in management of coastal and marine resources, Nature of markets,
markets failure, externalities, environmental and natural resources management, optimal
management of marine renewable resources.
10.
MEF 222: Introduction to Maritime Macroeconomics II (2 Units)
macroeconomics of Oceans, Economics of industries that used and manage ocean resources,
application of industrial organization, law and economics, natural resources theory, and
environmental economics.
11.
MEF 223: Structure of the Nigerian Maritime Industry II (2Units)
Monetary and fiscal policies in maritime industry; Trade; Transport system; Contributions of
sectors of the economy to national output and relationship between these sectors; Economic
development and social change; Special features and problems in maritime industry;
Multinational cooperation etc.
12.
MEF 224: Element of Statistics II (2Units)
Sampling and sampling distribution; correlation analysis, hypothesis testing; simple and
multiple regression analysis; statistical test of significance; sampling surveys and growth
surveys; time series analysis; non parametric methodology; variance analysis and Chi- square
distribution.
13.
MEF 225: Principles of Shipping and Administration (2 Units)
Nigerian shipping company and basic principles of company law, Shipping transaction and
relevant principles of contract law, Shipping Registration, Ship Mortgages, Maritime Liens,
maritime labour law, taxation of shipping activities.
14.
MEF 226: Maritime Business Mathematics II (2 Units)
The derivatives of trigonometric functions, expansions; Taylors theorem; Mathematical
analysis of basic theories of economics; Partial and total derivatives; Maximum and minimal,
langranges multiplier; Linear algebra; Inverse matrix etc.
15.
MEF 227 Principles of Maritime Insurance (2 Units)
History and development of Marine Insurance, contract of Marine Insurance, Marine Insurance
contract formation, Marine Insurance policies, disclosures and representations, warranties,
types of losses, liability and marine risks, suing and labour clause, general average claim,
reinsurance, mortgagees interest insurance.

IBB University, Lapai, Niger State


16.
MEF 228 Human Resource Development (2 Units)
Analyzes the relationships between personnel practices and maritime organizational
performance, Economic analysis of compensation policy, hiring and retention strategies;
incentive pay; relative performance evaluation, promotion; teams; seniority; organization
design, capital accumulation and labour legislation.
17.
MEF 229: Cabotage Operations (2 Units)
Cabotage and local content in the Nigerian maritime industry; legal issues within the Cabotage
and local content regimes; expectations under Cabotage, environmental issues in upstream
operations.
18.
MEF 240: Port Strategy and Development (2 Units)
Port development and investment; government strategists, port executives, marine terminal
operators and port users.

300 LEVEL
1.
MEF 311: Intermediate Maritime Microeconomics I (2 Units)
Shipping Markets-Definitions, different shipping markets, its main characteristics; liner
shipping; Dry Bulk Market-demand and Supply; dry bulk cargoes, dry bulk fleet (fleet
calculation) segmentation of the market; Liquid Bulk Market-Demand and Supply; liquid bulk
cargoes; liquid bulk fleet (fleet calculation); segmentation of the market; shipping market of
unitized cargoes; liner shipping formation; Demolition Market; report on orders, demolition,
and price volatility.
2.
MEF 312: Intermediate Maritime Macroeconomics I (2 Units)
Concept of national income, national income determination, theories of consumption; Savings
investment; Theories of fluctuations; Trade cycles; inflation analysis; Critical examination of
macroeconomic theories. The Keynesian Monetarists debate; Problems of unemployment and
inflation.
3.
MEF 313: Research Methodology in Maritime Studies (2 Units)
The objective of the course is to familiarize the students with the aims of socio-economic and
business research and acquaint them with research design, hypothesis formulation
questionnaire and interview techniques data collection and interpretation, preparation of
tables, charts, graphs and report writing.
4.
MEF 314: Port and Terminal Operations (2 Units)
The role of ports in economics development, characteristics and cost structure of road, rail and
river transport, interface between port and hinterland, views on port ownership, port

IBB University, Lapai, Niger State


development issues, liabilities in port authorities and other service providers, labour
management and relations in port, port operations and planning, port managements.
5.
MEF 315: Maritime Project Evaluation I (2 Units)
Definition and classification of projects and project evaluation; fishery management, fisheries
evaluation, property rights regimes, contemporary issues, and marine protected area
management. Identifying relevant costs and benefits in marine; Investment criteria;
Commercial profitability.
6.
MEF 316: Maritime Safety and Security (2 Units)
Introduction to Maritime safety Management, Cost-Benefit Analysis, Formal Safety Assessment,
Human Factor and Occupational safety, Six school of safety management, Accident analysis,
Emergency Preparedness, Maritime Safety management.
7.
MEF 317: Maritime Navigation (2 Units)
Distance and direction between selected features on a nautical chart; obstacles to nautical
chart; characteristics of common aid to nautical chart; Latitude and Longitude; Compass rose;
Buoy.
8.
MEF 318: International Maritime Economics (2 Units)
Theory of international waterborne trade, tariffs, non-tariff barriers and enhancements,
countervailing and anti-dumping action, multinational enterprises and international joint
ventures, foreign trade policy, regional and world trade institutions.
9.
MEF 319: Operations Research (2 Units)
Definitions, origin, development of operation research, usefulness and limitations, modelling in
operation research; Decision analysis, Mathematical programming concepts, formulation
analysis and applications of: a) Linear and non linear programming, Dynamic, integer and goal
programming, Theory of Games two persons, zero sum features and limitations, Systems
models system dynamics advanced simulations, Queuing theory and applications, Theory of
Stochastic process.
10.
MEF 320: Maritime Financial Management (2 Units)
Financial terms; Financing in Maritime Industry; content and usage of accounts; operating
statement; concept of breakeven, breakeven and decision making; budgeting and forecasting;
financial controls; credit control cash flow; Assessing major capital projects.
11.
MEF 321: Intermediate Maritime Microeconomics II (2 Units)
Liner shipping; fleet and ownership in liner shipping; container fleet analysis; economies of
scale in liner shipping; liner shipping stability and competition; modern trends in liner shippingcharacteristics of supply and demand, pricing strategies, surcharges; competition within the
liner conference; cost in liner shipping.

IBB University, Lapai, Niger State


12.
MEF 322: Intermediate Maritime Macroeconomics II (2 Units)
The Philips curves analysis IS-LM analytical apparatus in discussions of effectiveness of fiscal
and monetary policy. International trade and balance of payment; Economic growth relevance
of these theories and tools of analysis to the developing nations in general and Nigeria in
particular.
13.
MEF 323: Maritime Policy (2 Units)
Government Maritime policy; Maritime policy and international organisation, port and flag
state control; open registries and National registries, quality shipping; Dynamic shipping
industry and changing environment.
14.
MEF 324: Introductory Econometrics (3 Units)
Definition and scope of econometric; stages of economic research; Simple linear econometric
model; Ordinary Least Square Estimator; Multicollinearity, Heteroscedasticity and
autocorrelation; Simultaneous models and two Stages Least Square. Identification problem.
15.
MEF 325: Quantitative Methods in Maritime Studies (3 Units)
Introduction to descriptive and inferential statistics in marine affairs, spatial application of
statistical tests, regression and forecasting, time-series techniques, application of quantitative
techniques and model to transportation and logistics problem, empirical techniques employed
in analysis of shipping and port market, analytical and other generic skills of shipping markets.
16.
MEF 326: Shipping Finance (2 Units)
Basic principles of maritime finance, liability control, mathematics of finance, valuation, rate of
return on securities, financial statement analysis, forecasting, planning and budgeting, working
capital management, shipping capital budgeting techniques, and cost of shipping capital
consideration.
17.
MEF 327: Maritime Project Evaluation I (2 Units)
Welfare economics and the principles of social cost-benefit analysis in maritime management;
Valuation and shadow prices; Accounting prices for wetland traded goods; Social profitability
shipping; Efficiency and equity in wetlands project selection. Uncertainty, risk and sensitivity
analysis; Cash flow analysis; Project evaluation review techniques.
18.
MEF 328: Applied Monetary Economics (2 Units)
The structure and functions of financial system and markets; General outline of financial system
and markets; General outline of financial institutions, markets and their roles, competition
between banks and other financial institutions theory of money; Money supply and demand.
Demand and supply of financial assets; Determination of money stock, interests and prices;
Stabilization policies; Meaning, techniques and efforts of monetary policy; Policy objectives,
conflicts, tradeoffs and co-ordination; International adjustment and liquidity.

IBB University, Lapai, Niger State


19.
MEF 329: Political Economy of Maritime Environment (2 Units)
Basic distinguishing features of bourgeois economic, method of analysis and of dialectical
method, historical materialism, classification of social systems, and theory of social classes.
Marxist theory of capitalist development: emergence and advancement of capitalism.
Metropolitan and satellite economic relations; the struggle against colonialism and
neocolonialism; Stages of socialist development, emergence and advancement of socialism.
20.
MEF 340: Management of Sea Environment (2 Units)
Ecosystem, types and threats; State of ecosystem; Climate change; state and impact of Nutrient
pollution, chemical pollution and maritime litter; Maritime transport; Fisheries and
aquaculture; Renewable energy and oil and gas exploration; Protection Strategies and
Measures.
400 LEVEL
1.
MEF 411: Economics of Water Transport (2 Units)
Global markets of water transported goods; Rules and concepts of intra transport schemes,
global trading pattern from colonization to globalization.
2.
MEF 412: Management of Maritime Organisation (2 Units)
Problems associated with the management of buildings, piers, bulkheads and associated
structures and connecting waterways, corrosion, adverse effects of climate, tide and current
effects, dredging cycles associated with coastal zone, safe loading, discharge and storage of
cargoes.
3.
MEF 413: Maritime Law and Policies (2 units)
Origins of Law, Business Ethics, Court system, business related torts, contract, agency,
partnership, corporations, employment law, intellectual property, and international business
law.
4.
MEF 414: Taxation and fiscal Policy (2 Units)
Taxation and taxation theory; taxation and tax incidence; welfare cost and negative income tax;
Nigerian system of income tax administration; Fiscal policy element; fiscal federalisms; debt and
tax financing; Structure and procedures, returns assessment, appeal, postponed collection with
reference to all necessary legislation. Distinction between the taxation of income and the
taxation of capital; Personal income tax: the law and practice of income tax relating to
individuals; Exemptions, settlements, trusts and estates; Partnership assessments, treatment of
losses. Computation of assessable income; Islamic fiscal system, commencement and cessation
of trade business; Company tax the principle and scope of company tax; The small company
provisions, computations and exemptions; major fiscal policies in Nigeria and their effects on
the Nigerian economy.

IBB University, Lapai, Niger State


5.
MEF 415: International Trade (2 Units)
Determination of trade, flow of savings and investment; winners and losers in trade, role of
government and other international institutions in regulating trade; world trade; standard trade
model; resources and trade; international factor movement.
6.
MEF 416 Maritime Information Technology (2 Units)
Introduction to Maritime information systems, Key information system in maritime
Organizations, Enterprise Application, Data management and business Intelligence, Building
information system, process improvement exercise, managing IT Projects, E-commerce and Mcommerce, Business of new online social media.
7.
MEF 417 Chartering (2 Units)
Contribution of governmental and non-governmental organisation to shipping, Cargo handling
coordination, ship owners Association, Baltic exchange, voyage Chartering, Time chartering, Bill
of lading.
8.
MEF 418: ship and Cargo handling (2 Units)
Ship Types and Characteristics, Vessels requirement and Restrictions, Principal dimensions,
trimming conditions, forms coefficients, design lines, loading conditions, sea keeping behaviour
of Vessels in waves, types of cranes and cargo lifting.
9.
MEF 419 Shipping and Management Accounting (2 Units)
An overview of the industry, subject of shipping accounting, balance sheet Assets accounting,
Balance Sheet-Liability and Capital Accounting, Profit on Vessels Trading, Master general
accounting, Agency Accounting, Financial Software system and Data Reporting Processes.
10.
MEF 430: On-Shore-Off-Shore Economics (2 Units)
On-shore-off-shore operation, insurance for On-shore-off-shore operation, well planning and
business aspect in drilling, the economics of On-shore-off-shore exploration and development,
On-shore-off-shore lease acquisition, On-shore-off-shore production, an investment decisionmaking view, On-shore-off-shore regulations.
11.
MEF 431: Industrial Relations and Personnel Management (2 Units)
This course covers the concept of industrial relations. Trade union characteristics, industrial
relations laws in Nigeria; Types of unions; internal structures and government of unions; trade
union federation; central labour organization and internal affiliations; union solidarity and
check of systems, collective bargaining; industrial disputes; dispute settlement; joint
consultation; The state and industrial relations, aspects of personnel management and
administration. Comparative industrial relations.
12.
MEF 421: Advanced Microeconomics I (2 Units)
Market structures: Natural Monopoly and Contestable Markets, Fundamental quantitative
relationships. General equilibrium and Dynamic analysis; Value theory, production of functions

IBB University, Lapai, Niger State


duopoly, oligopoly, bilateral monopoly and monophony; Theories of determination of wages,
rent, interest and profit.
13.
MEF 422: Advanced Macroeconomics I (2 Units)
Basic model of income determination, extension from simple closed economy to a four sector
economy; detailed theories of employment, classical and Keynesian models of employment and
output capital theory.
14.
MEF 423: Inland Waterways (2 Units)
Role of carrier and shipper organizations, government agencies, and other interest groups in
policy development affecting inland and coastal shipping.
15.
MEF 424: Issues in International Maritime Operations (2 Units)
Colonization and globalization, world seaborne trade patterns, balance of payments, Current
account Surplus-Deficit, exchange rate, international trade theories and statistics, international
trade and commodities, short sea shipping.
16.
MEF 425: Maritime Planning (2 Units)
Maritime transport; Port master planning; Design wet Areas; Design of Terminals; queuing
theory as a tool on port planning.
17.

MEF 426: Research Project/Original Essay) (6 Units)

18.

MEF 427: Advanced Mathematical Economics (2 Units)

Linear and non linear models, static and dynamic models advanced treatment of input output
analysis. General equilibrium analysis; mathematical programming, dynamic programming,
optical control theory with emphasis on Bellman and Pantryagin approaches; Game theory and
applications, linear, difference and differential equation systems.
19.
MEF 428: Shipping Economics and Management (2 Units)
Development of shipping management, functions of shipping management, flag and
registration procedure, recruitment and retention, challenges and prospects of shipping
industry, basic budgeting methods in calculating net profit from the operation of vessel.
20.
MEF 429: Port Agency (2 Units)
Definition of Agent, shipping Agents, port state control, husbandry duties of an agent to ship
owners and crew, cargo and charter parties, Unusual situations and the agent claims, arrests
and surveys, accounting aspects for agents.