This course covers key economic factors, supply and demand, sources of revenue, and shipping economics theories and trends as they relate to the offshore marine industry. Financial basics and capital decision-making for the ship owner.

The College of Business will be offering two courses (one is on-line) in conjunction with our Maritime Management Program. The classes are available to employees of maritime related firms (and others) as part of our certificate program. This option is for those who wish to take the course(s) for no credit.  Individuals can enroll in one or both courses through our Continuing Education service, without enrolling as a Nicholls student. The individual will be exposed to the same material as the traditional Nicholls students and will receive a certificate of completion or attendance at the end of the semester.

This class will meet once a week on Wednesday evenings–6:00 – 8:50 pm.

Cost: $1000.00 per course

COURSE OUTCOMES:

This course will apply the concepts from the principles of microeconomics and macroeconomics to the maritime industry. Upon successful completion of the course, a student should be able to:

1. Identify and explain the major factors that influence supply and demand in the energy, commodities, and maritime services markets.
2. Explain how the major statistics that are frequently used to describe an economy (GDP, interest rates, etc.) are used for business decisions by companies in the maritime industry.
3. Explain how international trade influences the price for domestic consumers and producers.
4. Explain how taxes, subsidies, and other government actions may alter market outcomes.
5. Describe how economic, technical, and legal changes alter the market for maritime service firms.
6. Identify and explain the economic costs necessary for operations for a firm in the maritime industry, including the time value of money and the risks associated with large capital investments.
7. Explain the economic factors a maritime firm faces when considering an expansion, contraction, or capital budgeting decision.
8. Demonstrate an understanding of financial statements and the use of Excel to solve basic calculations.