AEP-20306 Economics of Agribusiness

Course

Credits 6.00

Teaching methodContact hours
Lecture24
Tutorial24
Practical20
Independent study0
Course coordinator(s)dr. ir. JHM Peerlings
Lecturer(s)dr. ir. JHM Peerlings
dr. D Drabik
Examiner(s)dr. D Drabik
dr. ir. JHM Peerlings

Language of instruction:

English

Assumed knowledge on:

Mathematics at the level of MAT-12806 Mathematics M (Mathematics for Social Sciences); UEC-10406 Microeconomics and Behaviour.

Continuation courses:

AEP-30306 The Economics of European Integration: Agricultural, Rural and Regional Policy Analysis

Contents:

Agribusiness is an important economic sector. It includes primary agriculture, food processing industries, and input-delivering industries. This course provides a description and analysis of economic behaviour of actors in agribusiness. The linkages between economic actors through national and international markets and through other co-ordination mechanisms such as contracts receive special attention. Microeconomic and institutional theories are the basis for description and analysis. Important subjects are: position of agribusiness within the economy, firm and consumer behaviour, investment, markets of food products, co-ordination mechanisms and imperfect competition in agribusiness, organisation of food production (e.g. family farms), agricultural and environmental policies and regional and international trade in food products. After this course you better understand economic phenomena as future markets, oligopolies, policy intervention and family farms in agriculture.


Learning outcomes:

After successful completion of this course students are expected to be able to:
- reproduce microeconomic descriptions and theories that are relevant for agribusiness;
- solve and interpret the results of microeconomic exercises on agribusiness;
- snalyse behaviour of agents in agribusiness; 
- explain economic phenomena using microeconomic and institutional theory.

Activities:

- attending lectures and studying the reader;
- doing exercises;
- doing simulations with economic models in Excel;
- weekly tests.

Examination:

Written exam with 20 true / false statements and four open questions (100%).
An option is offered to replace (25%) of the written exam by 4 weekly tests.

Literature:

Reader "Economics of Agribusiness" plus additional material in the Learning Environment@WUR.

ProgrammePhaseSpecializationPeriod
Compulsory for: BBCManagement and Consumer StudiesBScA: Business Studies1MO
Restricted Optional for: BBCManagement and Consumer StudiesBScB: Consumer Studies1MO
MOAOrganic AgricultureMScB: Sustainable Food Systems1MO
MinorPeriod
Compulsory for: WUABMBSc Minor Agricultural Business Management1MO