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ECON4002 Core Concepts in Agricultural and Applied Economics

6 points
(see Timetable)
Semester 1UWA (Perth)Face to face
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.
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.
Indicative assessments in this unit are as follows: (1) assignments; (2) participation in online forum; and (3) final test. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Dr Atakelty Hailu
Unit rules
enrolment in Master of Agricultural Economics or Bachelor of Science (Honours) (BH004)
Contact hours
24 hours. The total workload for this unit is 150 hours.
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.