||Wayne K. Talley
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Port economics is the study of the economic decisions (and their consequences) of the users and providers of port services. Port users include shippers, passengers, and carriers. Port (or terminal) operators are the primary service providers; other service providers include, for example, ship agents, customs brokers, ship pilots and towage, stevedores and freight forwarders. Maritime economics consists of port and shipping economics. This book is an introduction to port economics. Although a textbook, it is expected to be useful in maritime research, to port user and service-provider decision makers, and to those of the general public who are interested in port issues. In 1984,1 and two other business professors established the center, Maritime, Trade and Transport (MTT), at Old Dominion University. Given that Norfolk, Virginia (where the university is located) has one of the largest container ports on the U.S. east coast, the center's mission was to perform high-quality maritime research to promote the Port of Virginia and international trade in the region. Prior to 1984, although a transportation economist. I was not a student of maritime economics. However, MTT provided me with the opportunity to become knowledgeable in the subject. In 1986, MTT was renamed the Virginia Center for World Trade and established as an economic development agency of the Commonwealth of Virginia. Given the success of MTT, the International Maritime. Ports, and Logistics Management Institute (Maritime Institute) was established in 1994 at Old Dominion University to provide graduate maritime management education - a maritime concentration in the Master in Business Administration and Master in Public Administration degrees and a maritime management certificate.