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Module

ACE3079 : Food Business Economics

  • Offered for Year: 2021/22
  • 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
* 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 ActivitiesLecture111:0011:00Familiarise with the topics, and look through the module guide and recommended reading list
Structured Guided LearningLecture materials80:152:00short recordings to compliment lecture materials to be published on VLE each week.
Guided Independent StudyAssessment preparation and completion115:0015:00Preparation for 2x MCQs
Guided Independent StudyAssessment preparation and completion120:0020:00Group Essay 50%
Guided Independent StudyIndependent study271:0027:00Research and reading to prepare classes and reflect on material covered in the module
Guided Independent StudyOnline Discussion61:309:00This is will be a webinar each week to discuss a reading or a to consolidate concepts in the lecture
Guided Independent StudyDistance Learning Advance Preparation28:0016:00Online - info on what student what expect
Total100:00
Teaching Rationale And Relationship

Lectures convey the key economic theories that are relevant to food markets analysis.
The practicals are structured to prepare students to conduct an industry analysis. These sessions should be timetabled on a fortnight basis, starting on the 2nd week of classes.
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

Other Assessment
Description Semester When Set Percentage Comment
Report2M100report
Assessment Rationale And Relationship

The students will complete 2 MCQ in weeks 5 and 10 of the semester which will test their knowledge on the theoretical components of the topics. Then they will complete a group report where they will apply these concepts through a industry report.

The students will complete be required to write an group report on a food business of their choice and will conduct an economic reflection on the business strategy. This report will include a description of the competitive and demand environments. This report will also allows students to demonstrate how the concepts apply to industries of their own particular interest.

Each piece of assessment will be worth 50%

Reading Lists

Timetable