This course is designed for students who want a better understanding key of agricultural marketing issues and concerns and who want to develop analytical skills used to evaluate different marketing problems and programs. The course includes the study of market structure, behavior and performance, including futures market and market games theory.
In this course, students:
- Develop and understand the functions performed and appreciate the importance and complexity of the agricultural and food marketing system;
- Develop an understanding of the basic working of the futures markets for speculators and hedgers, and how these are used by producers and firms to manage price risk; and
- Apply the basic economic concepts and analytical tools to understand the market forces that affect prices and use these tools to evaluate markets, prices and current agricultural marketing issues.
This course helps refine students' abilities to think critically and justify their positions with relevant economic logic by developing analytical approaches and decision-making frameworks for economic decisions made by producers and firms in the marketing system.
AREC 202 (Agricultural and Resource Economics) or ECON 202/AREC 202 (Principles of Microeconomics)
Textbooks and Materials
No textbooks are required for this course.