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Module

ACE3079 : Food Business Economics

  • Offered for Year: 2022/23
  • 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
Guided Independent StudyAssessment preparation and completion130:0030:00Revision for the end of semester exam
Scheduled Learning And Teaching ActivitiesLecture111:0011:00Familiarise with the topics, and look through the module guide and recommended reading list
Guided Independent StudyIndependent study114:0044:00Research and reading of class materials
Guided Independent StudyOnline Discussion51:005:00Webinar to consolidate concepts taught in the lecture
Guided Independent StudyDistance Learning Advance Preparation42:3010:00Preparation for webinars
Total100:00
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 Examination901A100end 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