ACE3079 : Food Business Economics
- Offered for Year: 2022/23
- Available to incoming Study Abroad and Exchange students
- Module Leader(s): Dr Diogo Monjardino De Souza Monteiro
- Owning School: Natural and Environmental Sciences
- Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value: | 10 |
ECTS Credits: | 5.0 |
Aims
The goal of this module is to provide students with contemporary knowledge on how food markets operate and offer them rationales to make adequate strategy decisions. In line with developments of food markets in the past 30 years, the module will focus on differentiated food markets and will build on industrial economic models of market strategy.
The module has two sections: 1) in the first section of the module the students will learn theoretic frameworks to understand firm marketing decisions; 2) in the second section the students will learn about empirical models and will have the opportunity to apply their knowledge on a study of a sample of agro-food industries.
Outline Of Syllabus
The module covers the following topics:
* Strategic management vs business economics: What is purpose of businesses?
* Revision of theory of the firm and market structure
* Agency and contract theory
* Introduction to game theory
* Relational contracts and trust
* Product differentiation
* Price discrimination
* Marketing communications
* Economics of food distribution
* Innovation
Teaching Methods
Teaching Activities
Category | Activity | Number | Length | Student Hours | Comment |
---|---|---|---|---|---|
Scheduled Learning And Teaching Activities | Lecture | 11 | 1:00 | 11:00 | Familiarise with the topics, and look through the module guide and recommended reading list |
Guided Independent Study | Assessment preparation and completion | 1 | 30:00 | 30:00 | Revision for the end of semester exam |
Guided Independent Study | Independent study | 11 | 4:00 | 44:00 | Research and reading of class materials |
Guided Independent Study | Online Discussion | 5 | 1:00 | 5:00 | Webinar to consolidate concepts taught in the lecture |
Guided Independent Study | Distance Learning Advance Preparation | 4 | 2:30 | 10:00 | Preparation for webinars |
Total | 100:00 |
Teaching Rationale And Relationship
Lectures convey the key economic theories that are relevant to food markets analysis.
The practicals are structured to help students consolidate and apply the theoretical concepts through case
studies and flip class methods. These sessions should be timetabled on a fortnight basis.
Students are encouraged to develop their understanding through further reading and relate the topics covered
to industries/topics of their interest.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
Description | Length | Semester | When Set | Percentage | Comment |
---|---|---|---|---|---|
Written Examination | 90 | 1 | A | 100 | end of semester exam |
Assessment Rationale And Relationship
The students will complete an end of semester exam, intended to assess how students understood and apply the theoretical concepts presented in class to real market examples.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ACE3079's Timetable