AEP-30806 Economic Models

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

ECH-21806 Microeconomics; AEP-20306 Economics of Agribusiness.

Contents:

The course is designed for MSc and PhD students and aims at the quantitative analysis of economic problems in agriculture and agribusiness in both developing and developed countries. As such it has a focus on applied micro-economic theory and quantitative research methods (simulation models, spreadsheet use). Applications will mainly stem from agricultural settings. The course provides experience of the various aspects involved in building economic models on the basis of well defined model types, which can be adapted to suit the needs of a specific research objective.
Students are not only trained in model construction for quantitative analysis, but also in judging the appropriateness of models for a given purpose, how to introduce empirical content and how to interpret the results of quantitative models.
This is an advanced course and a good knowledge of micro-economics and econometrics is required.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- compare quantitative economic models;
- combine micro-economic theories and quantitative research methods;
- construct their own economic models;
- evaluate the potential uses and limitations of different quantitative methods for policy analysis;
- explain the limitations in using quantitative research based on economic theory;

Activities:

- attending lectures and studying the material (reader, articles);
- doing computer exercises;
- working on specific problem sets.

Examination:

- six assignments (50%);
- written exam with 24 True/False questions and 4 open questions (50%).
To pass a minimum mark of 5.5 for the written exam is required.

Literature:

Syllabus Economic Models. The course is supported by a Blackboard site.
Handbook: Vercammen, J. (2011). Agricultural Marketing, Routledge.