The course Economics and Agricultural Policy aims to provide the introductory bases of knowledge of the language, method and foundations of economic theory. Students will be introduced to the analysis of the technical-economic characteristics of the farm, and the theory underlying the analysis of efficiency. Finally, the module aims to investigate the general logic of agricultural policy with reference to the national and European contexts. The exercise and practice part will deepen the aspects of comparative statics of economic theory, and of the operational tools for the analysis of efficiency and the budget of a farm.
Expected learning outcomes
At the end of the course the student will be able to know the main mechanisms that govern the markets for goods and services according to the economic theory. The student will also learn the characteristics that distinguish the agricultural firm and determine its efficiency. Furthermore, the student will be able to understand the dynamics of the Italian agricultural sector and the policy instruments at national and European level.
Lesson period: First semester
(In case of multiple editions, please check the period, as it may vary)
Microeconomics Theory of Supply and Demand and market equilibrium The choice of the consumers and the choice of the firms Elasticity of demand to price and income Production function, production costs and elasticity of supply Market failures Agricultural Economics Elements of firm theory Farm and agricultural enterprise The agricultural entrepreneur The factors of production and the capitals of the farm The structure and organization of the farm The classification of the farms Introduction to the budget Theory of production costs Business efficiency Agricultural Policy The Common Agricultural Policy from its establishment to the first reform (objectives, instruments, economic dynamics) The first Mac Sharry reform Agenda 2000 reform Fischler reform and the "Health Check" The new CAP 2014-2020 The evolution of the CAP: future scenarios Practice Exercises and practical applications of comparative statics Calculation of the farm's budget Calculation of the farm's production costs of a product of animal origin Application of cost analysis in the farm Analysis of business efficiency The rents: regulation, function, frequency and contractual drafting The Italian livestock sector: evolutions and perspectives The European Union: history and main institutions Common Agricultural Policy programming levels: community, national and regional Lombardy region Rural Development Program and example of "Leader" practices The agricultural policy instruments for the control of markets and incomes The concept of multifunctional agriculture
Prerequisites for admission
No prior knowledge is required
Attendance is strongly recommended. Teaching modality: frontal didactic.
Lectures' slides Mankiw N. G., Taylor M. P. (2015). Principi di Economia, Zanichelli, Bologna. Iacoponi L., Romiti R. (2001). Economia e politica agraria, Edagricole, Bologna.