BEC-21306 Food Safety Economics

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

LAW-30806 Food Law.

Contents:

The course focuses on the economic aspects of the decision-making process in the field of food safety. It aims to set out the general principles of food safety economics with emphasis on the decision making process. Attention is paid on concepts and methods used to get insight into the economics of food safety. The entire chain of food production, processing, retail and consumption is considered and the effect of food safety measures on consumer perception, consumer demand and trade is explained. Next to the lectures, students will follow computer applications where the acquired knowledge will be applied on specific decision-making problems in the field of food safety. Role plays will be used to convey to the students some key economic concepts (e.g. willingness to pay, moral hazard and information asymmetry). Additionally, students will work in in teams to study the economic implications of a recent food crisis.

Learning outcomes:

After successful completion of this course students are expected to:
- have knowledge of basic economic methods and principles used to analyze the economic aspects of food-safety issues;
- have knowledge of quantitative tools and methods used in the assessment of economic decisions related to food safety;
- be able to conceptualize food-safety problems from a decision-making point of view.
- be able to identify and apply the appropriate quantitative methods and models for the decision-making problems in food safety;
- be able to analyse, from an economics point of view, the economic determinants and consequences of a food crisis and to synthesize the relevant information.

Activities:

The activities of the course include lectures, role play, computer practicals, teamwork, one in-class presentation, and self-study.

Examination:

The first four learning outcomes will be assessed in a written examination (80% of final mark) including multiple choice questions, true/false statements and open ended questions; the fifth learning outcome will be assessed via a written report (15%) and a class presentation (5%), which will be developed as group activities.

Literature:

Reading materials will include various sources, provided via Blackboard as the class proceeds.