ECON4002 Core Concepts in Agricultural and Applied Economics

Credit
6 points
Offering
AvailabilityLocationMode
Not available in 2020OnlineOnline
Content
In agricultural economics, and applied economics more generally, many questions of interest can be investigated formally. The focus of this unit is on the methods and techniques that can be used to (1) gain insights on future developments in consumer and producer markets; and (2) understand the impact of key policy changes on consumers and producers. Topics covered in the unit include how to evaluate policy actions such as the introduction of a tax or joining a free trade area; the relationship between commodity stock levels and commodity price levels; how to establish relationships between consumer goods and the growth prospects for different goods; optimal resource allocation within a firm across different production inputs; the role of economies of scale in production; game theory models of pricing; and decision making under uncertainty.
Outcomes
Students are able to (1) derive formal expressions for demand relationships between goods; (2) measure the welfare effect of policy changes; (3) develop formal models to study commodity markets; (4) develop formal models to study production decisions; and (5) interpret and communicate the output of formal models and expressions.
Assessment
Indicative assessments in this unit are as follows: (1) assignments; (2) participation in online forum; and (3) research report. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Dr James Fogarty
Unit rules
Prerequisites:
enrolment in Master of Agricultural Economics
or
Bachelor of Science (Honours) (BH004)
Contact hours
10 half days. The total workload for this unit is 150 hours.
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  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.