ACE3079 : Food Economics
- Offered for Year: 2018/19
- Module Leader(s): Dr Diogo Monjardino De Souza Monteiro
- Owning School: Natural and Environmental Sciences
- Teaching Location: Newcastle City Campus
|Semester 2 Credit Value:||10|
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:
* Revision market structures and supply and demand
* Game theory and oligopoly
* Product differentiation
* Price discrimination
* Marketing communications
* Agency theory and Vertical Integration
* Business performance measures
|Guided Independent Study||Assessment preparation and completion||1||10:00||10:00||Writing and editing the food industry analysis report|
|Guided Independent Study||Assessment preparation and completion||1||1:00||1:00||Semester 1 examination|
|Guided Independent Study||Assessment preparation and completion||10||1:00||10:00||Revision for Semester 1 examination|
|Scheduled Learning And Teaching Activities||Lecture||9||2:00||18:00||Lectures are designed to cover the economics concepts and models of the module|
|Scheduled Learning And Teaching Activities||Practical||4||1:00||4:00||These practicals focus on industry, consumer and policy analysis|
|Guided Independent Study||Independent study||1||36:00||36:00||Research and reading to prepare classes and reflect on material covered in the module|
|Guided Independent Study||Independent study||1||21:00||21:00||Selection and examination of readings and data to prepare an industry analysis report|
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.
The format of resits will be determined by the Board of Examiners
|PC Examination||60||2||A||50||This PC exam will have a multiple choice and an essay components covering all material taught in class|
|Written exercise||2||M||50||This is a 1500 words analysis of a food business strategy|
Assessment Rationale And Relationship
The PC examination draws together materials from across the module and tests students' individual ability apply economic concepts relating to food markets and the food industry.
The students will also be required to write an individual 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%