Given that we have had many, many threads over the years that shows big ship universe economics; how would one create the economic model for a small ship universe. One where the absolute maximum tonnage is, say 10,000 dtons?
What assumptions are necessary? What tax rate is necessary, or are taxes even necessary?
Can the Imperial system be supported by trade tariffs alone?
When you tell about that, do you mean a maximum ship size (as would occur at low TLs due to computer constrains, or as a small ship universe is usually seen) or to a maximum fleet size?
If you mean the former, I guess the number of ships will grow proportionally to the decreasing size, leaving us more or less with the same total tonnage, and so with more or less the same economics...
If you meant the latter case, then those same (more scarce) ships will be more expensive to build (not necessarily so to maintain). I don't believe just lower percentage budgets will lead to this scenario, though, as those same budgets will be raised if a credible menace is perceived, so, IMHO, only scarcity of one critical element (as Ta
180-m in 2300 AD) will lead to it.
And even a third scenario would be that both maximum ship size and maximum fleet size applies (e.g. the scarce element is needed, and its need grows exponentially with the ship size, making the maximum practical size of the ships the 10 kdt you told about).
In both latter cases (the scarce element approach), the lack of ships would limit the commerce, so making (as Hans pointed) independent traders a rarity, but probably also pirates will be so rare, so military fleets will be smaller too.
Traditionally, military fleets goal has been either to allow your shipping to cross the seas or to deny enemy shipping to do so. In space, I guess planet defense will also be an important mission, as there's not a single place in the planet that cannot be threatened from orbit (unlike naval shipping, as there are places in most nations out of reach for them).
So, if your shipping is smaller, so are your military fleet needs, as there is less shipping to protect/interdict, and, unless there’s a thread from enemy fleets to the planet to be attacked from space, I guess most percentage of the ship’s tonnage will be devoted to freighters to keep the commerce flowing, while also planetary defenses (mostly immobile satellites) will be stronger to allow planetary defense without tying down those so valuable fleet assets.
From the economic POV, this would lead to a higher building cost fleet, but once built (and the practical maximum due to the scarce element is reached) the maintenance costs will not raise in the same proportion, allowing the Naval Budget to be lowered in a good percentage...