The aim of the course is to address the changes taking place in the agri-food chain and the implications for Italian agriculture with focus on the wine sector. To provide students an overview of the main dynamics in progress in the market of agri-food products on the side of the demand and supply. During the lectures the theories of supply and demand and their changes will be analyzed. Examples and practical applications on agri-food products will be discussed and discussed in-depth.
Schedule of lectures:
- Introduction to the course, objectives, teaching organization, methods of examination
- Introduction to the concept of Agribusiness
Part 1) The market of agri-food products
Analysis of agriculture market: concepts and problems
Part 2) The market and the agri-food system
Part 3) The demand for agri-food products
The theory of Demand; Prices and budget constraint; Preferences and utilities. Elasticity of Demand: Price, Income and Cross-Elasticity of Demand. (Estimating price and income elasticity of demand). Analysis and examples for the agriculture and wine sector
Part 4) The supply of agricultural products
The theory of supply; Levels of production; The individual . Price elasticity of supply; Supply control instruments: economic and institutional. Effects of agricultural policies to supply management. The behavior of the application (analysis and examples referring to the agricultural and wine sector).
Part 5) The market and price formation
Price Determination in Agricultural Commodity Markets. Factors and mechanisms. Efficiency and equity. Prices policy in the marketing system of agricultural products. Understanding prices variations. Market structures (competition, monopoly and oligopoly): theories an examples. Barriers to trade.
Part 6). Markets organizations
Producers organisations, items and rules, keys aspect for promotion. The case of wine sector. Collective promotions, consortium, and opportunity for financing.
- Economia del mercato dei prodotti agroalimentari
Flavio Messori,Fabrizio Ferretti
Editore: Edagricole-New Business Media
Anno edizione: 2010
- Economics, Governance, and Politics in the Wine Market: European Union Developments
Davide Gaeta, Paola Corsinovi
Editore: Palgrave Macmillan
Anno edizione: 2014
- Slides and Scientific Journals provided by the Professor
During the exam the students will be assessed on his/her ability in discussing the main course contents.
Examination for attending and non attending students:
For attending students it will be possible - and optionally - to carry out an agribusiness project work (alone or group) whose topics will be discussion and agreed with the Professor at the beginning of the course. The project will be submitted to the Professor and the evaluation will take place through a presentation during the lectures. The positive outcome of the evaluation will replace the written exam.
For all not attending students, and for those who do not want to present the final project work, the exam will be written with open questions. The questions will cover the entire teaching program. During the examination the use of any teaching material will not be allowed. The vote is expressed in thirtieths.