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Overall MEL Objective:

The MSc in Maritime Economics and Logistics (MEL) aims at fast-tracking promising young professionals into tomorrow's leaders in business and government. The program prepares experts with modern economic and management tools for efficient decision-making, providing them at the same time with methods; concepts; and theories to enable them understand and analyze, in a holistic and multidisciplinary way, the complexities of global maritime supply chains. In this way, MEL graduates are expected to be able to act and decide, with managerial style and determination, under complex and uncertain conditions, in a global economic and social environment.

Domain Specific Qualifications

1. Understand, analyze and appraise (UAA) the role of the MEL sector(s) in the Economy, trade, society and welfare

• UAA the role of international transport in modern theories of international econo- mics

• UAA the role and impacts of ports and infrastructure on local and regional economies and international trade

• Contextualize the impact of globalization on transport systems

• Understand and measure the link between international ocean transportation and trade

• Articulate maritime and transportation policies with reference to environment pro- tection, safety, security, congestion prevention, competition policy

• Identify cargo types, their transport/logistics requirements, and major trade routes • Identify, understand and use key performance indicators in a supply chain

• Identify, understand and use key performance indicators in container terminals

2. Understand, analyze and appraise the interconnectedness, implications and impacts of stake- holder decision-making along the global maritime supply chain

• UAA the role of ports; port communities; and port information systems as facilita- tors/enablers in global maritime supply chains

• Understand the differences and dynamics of the various MEL sectors and markets • Understand and appraise the economic implications of various ship designs and rela-

ted functions and technologies

• Understand the economics of innovation diffusion in transport and its impact on the efficiency of supply chains

• Pynthesize, assess and balance stakeholder interests and, accordingly, set up a finan- cing and pricing strategy for a port

• Assess the role and impact of tariffs, quotas and other barriers to trade on the supply chain

• UAA how the operations and economics of various transport modes are affected by government intervention, and national and supranational policies

60 QANU / Master of Science in Maritime Economics & Logistics (MEL)

3. Analyze theories and trends in Maritime Economics and Logistics

• UAA the implications of port privatization for trade efficiency and societal welfare • UAA the limitations and potential of port performance measurement theories • UAA the parameters and management implications of a port master plan • UAA the objectives of a port marketing plan

• Develop a management strategy for a terminal

• UAA concentration and market power in transport markets and assess their impacts on society

• Understand price formation in various transport, infrastructure and logistics markets • Understand the issues related to human capital in shipping and in the MEL sector by

and large

• Familiarize with the academic literature of the MEL discipline as defined at EUR. • Manage a supply chain for various types of cargo and commodities

• Cope with hinterland transportation limitations and bottlenecks, in rail, road and inland waterways

• Identify key management issues and challenges in a transportation company

• Understand the main tenets of public international law and their ramifications on trade and transport efficiency

• Be able to read, understand and assess charterparties and bills of lading • Be able to identify major responsibilities in insurance claims

4. Critically assess theories and trends in Maritime Economics and Logistics

• Through academic literature review and research methodology, write a Master’s thesis

5. Make research-based decisions in (parts of) complex maritime supply chains with limited infor- mation

• Use queuing theory to model terminal design; shipping and transportation problems • Model and forecast major markets and key maritime variables (freight rates, second

hand prices, etc)

• Use programming techniques to set up and optimize liner shipping networks • Use simulation in container terminals; shipping; and transportation problems • Use decision theory to formulate maritime and transportation problems

• Appraise investments in shipping and transport infrastructure under conditions of risk and uncertainty

• Understand hedging instruments and the way they can be used in managing shipping risks

• Pet up a financing and investment strategy for a shipping company

• Design a container terminal and simulate the performance of various designs • Determine the optimal levels of inventories, batch sizes and cargo flows

• Assess the commercial implications of charterparty clauses and negotiate accordingly • Draw up tender documents for a concession of services

Generic Qualifications

6. Scientific knowledge

61 QANU / Master of Science in Maritime Economics & Logistics (MEL)

7. Awareness of the broader socioeconomic context

MEL’s extensive, fairly comprehensive and integrated curriculum, together with appropri- ate emphasis on policy issues (SEP; PEP; IE) enable students to place argumentation in a wider, multidisciplinary (economics; management; law; technology) perspective.

8. Self-management skills

MEL students have to work continuously under pressure and, therefore, time-manage- ment skills are a sine qua non. They are capable of working under limited supervision, in a group or individually, and through a large number of assignments; other coursework; presentations and case studies, they are quite capable of taking decisive action.

9. (International) communication skills

MEL students have a sufficient command of the English language1 _{and knowledge (due to}

backgrounds and professional experience) of the MEL terminology. Their frequent inter- action among themselves and others and their good professional involvement in the MEL subject matter make them passionate and effective communicators.

10. IT skills

Students become conversant in IT technologies (even receiving refresher instruction upon arrival). These include MS Office (with particular emphasis on the programming add-ins of excel); internet; statistical; econometric; and programming software.

11. Interpersonal and team-work skills

MEL is a predominantly international group that has to work and socialise closely together as a team throughout the year. Through this, they learn to respect different cultures and practices, as well as the values of tolerance and diversity.

12. Project management

Students are capable to manage a project (e.g. thesis) in an efficient way.

13. Research skills

Through their training in research methodology; by being taught by actual researchers; being critically exposed to advanced literature; and finally by carrying out their thesis project, students become capable of conducting independent and individual research.

14. Transposing academic knowledge into professional and socioeconomic context

Over the year, students are in frequent interaction with business executives from MEL’s Corporate Network (DLS; company visits; conferences; etc.) and in this way, as well as though training in Writing and Presentation Skills and their own professional background, students are becoming quite competent in transposing theory to ‘business language’ in an effective and succinct way.

1 _{MEL ensures that its students have sufficient knowledge of the English Language by requiring IELTS or TOEFL}

Scores and/or through (telephone) interviews with the candidates. MEL considers only candidates with IELTS score above 6.5 and TOEFL score above 3 for computer-based or 55 for paper-based tests.