YSS-35306 Theories and Models in Economics


Credits 6.00

Teaching methodContact hours
Independent study0
Course coordinator(s)dr. X Zhu
Lecturer(s)dr. ir. C Gardebroek
prof. dr. EC van Ierland
dr. X Zhu
Examiner(s)dr. ir. C Gardebroek
dr. X Zhu

Language of instruction:


Assumed knowledge on:

Environmental Economics for Environmental Sciences (ENR-21306), Microeconomics (ECH-21806), or Economics of Agribusiness (AEP-20306)


This course aims to acquaint students with different methodologies of doing applied research in economics, with an emphasis on the environment and agricultural commodity markets. Different methodologies of making economic scenario studies are discussed at an intermediate level. Methodologies that will be dealt with include partial equilibrium models, input-output models, applied general equilibrium models and neo-classical growth models.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- explain the micro-economic theories underlying quantitative economic models;
- develop a quantitative economic model (in GAMS) to address a specific economic policy problem;
- critically reflect on the potential uses and limitations of quantitative economic models for policy analysis.


- lectures;
- computer practicals;
- take-home exercises to be completed in groups of two students;
- self-study.


- group assignments (30%);
- written exam (70%).
Each component needs a minimum mark of 5.5 to pass.


(1) Vercammen, J. (2011). Agricultural Marketing, Routledge (available on-line via library); (2) Reader 'Theories and models in economics (2018)' by Xueqin Zhu et al.; (3) Reader 'GAMS for economic modelling (2018)' by Xueqin Zhu et al.

Compulsory for: MMEManagement, Economics and Consumer StudiesMScC: Economics and Governance4WD
Restricted Optional for: MESEnvironmental SciencesMSc4WD
MUEUrban Environmental ManagementMSc4WD
MCLClimate StudiesMScE: Climate, Society and Economics4WD