ECON4002 Core Concepts in Agricultural and Applied Economics

6 points
(see Timetable)
Semester 1UWA (Perth)Multi-mode
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) 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
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.
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
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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 via the Booktopia Textbook Finder, which has the functionality to search by course code, course, ISBN and title, and may also be posted or available at the appropriate school's administrative offices. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.