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NES3107 : Food Business Economics

  • Offered for Year: 2024/25
  • Module Leader(s): Dr Diogo Monjardino De Souza Monteiro
  • Owning School: Natural and Environmental Sciences
  • Teaching Location: Newcastle City Campus

Your programme is made up of credits, the total differs on programme to programme.

Semester 2 Credit Value: 10
ECTS Credits: 5.0
European Credit Transfer System


The goal of this module is to provide students with contemporary knowledge on how food markets operate and offer them rationales to make adequate strategic 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 be introduced to game and contract theory, two fundamental framework to understand contemporary strategic decisions in modern food markets. The second part of the module will introduce economics models underpinning food marketing strategies, namely product, pricing, communication and innovation strategies;
2) Students will also have seminars where in groups of up to 25 students, they will have a chance to apply these theoretical concepts to real world cases from agro-food industries. Special emphasis will be given to the understanding on how economics concepts and frameworks can help us understand drivers and barriers to a transition to a more sustainable economy.

Outline Of Syllabus

The module covers the following topics:
* Strategic management vs business economics: What is purpose of businesses?
* Introduction to game theory
* Agency and contract theory
* Vertical control
* 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 ActivitiesLecture111:3016:30Familiarise with the topics, and look through the module guide and recommended reading list
Guided Independent StudyAssessment preparation and completion125:3025:30Revision for the end of semester exam
Structured Guided LearningStructured research and reading activities52:0010:00Preparation for small group seminar discussions. Students will be given instructions to prepare and lead discussions on their seminars
Scheduled Learning And Teaching ActivitiesSmall group teaching41:004:00Discussion seminars to consolidate materials taught in lectures.
Guided Independent StudyIndependent study114:0044:00Research and reading of class materials
Teaching Rationale And Relationship

Lectures convey the key economic theories that are relevant to food markets analysis.
Small group seminars 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

Description Length Semester When Set Percentage Comment
Written Examination902A100end of semester exam
Formative Assessments

Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.

Description Semester When Set Comment
Written exercise2MMock exam covering the material until the Easter break each year. This will enable students to practice on exam conditions.
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.
The formative assessment allows students to gauge their progress and understanding it also allow students to practice assessment under examination conditions.

Reading Lists