The course consists in two modules: Agricultural policy and rural appraisal. The students will acquire skills both in International and European policies as well as in appraisal procedure aimed at professional activity.
The agricultural policy module will address basic and intermediate topics on international agricultural and environmental policy with a focus to (domestic) European Union policies. The module will study trade, agricultural and environmental policy issues, developed through simple economic models. In addition, students will be introduced to the topics of climate change impact assessment in agriculture, with the aims to study the economic impacts of agricultural mitigation and adaptation policy. Emerging topics such as the recent changes in the common agricultural policy (CAP), environmental and food standards, and climate change issues will be the main learning outcomes. The presentation of the different economic models will give emphasis to applied work and issues pertinent to current real problems.
The rural appraisal module will address rural appraisal theory with specific regards to the entrepreneurial choices and the relationships between public and private actors. The module will study the basics of appraisal, introducing fundamental concepts as value, criteria and methods. The analysis of private (cash flow analysis and business plan) and public (public goods and cost-benefit analysis) will be studies. The module will address property rights and compensations. Moreover, the environmental appraisal, Environmental Impact Assessment (EIA) and Strategic Environmental Assessment (SEA) will be analyzed. Finally, innovative approaches as the International Valuation Standards (IVS) will be a fundamental part of the module. The module aims at provide knowledge and expertise to the students useful for the scientific and professional activities in different contexts.
Agricultural policy: Microeconomics (... perfect and monopolisitic competition models); statistics (elements of inferential statistics, regression linear model).
Rural appraisal: Essential knowledge in economics and business
Assessment methods and Criteria
Agricultural policy: Written test with 15 multiple choice questions, plus 1 open question that could be related to a more theoretical issue or to the discussion of an empirical article presented in formal lesson. Each multiple-choice question has a value of around 1.5 points; while the open question has a maximum value of 4-5 points. Useful material for the final exam are the exercises in the book at the end of each chapter (see also Feenstra&Taylor's solutions manual on Ariel,, relate to the UK versione of the book); List of readings in Ariel. The results of the exams will be communicated on Ariel.
Rural appraisal: The student will take an oral exam in which questions about the different parts of the program will be asked. The knowledge of the concepts provided by the teacher and the ability to apply them to hypothetical contexts will be assessed.
0. Introduction to the course International trade theory and trade policy in agriculture 1. Neoclassic trade models: Ricardian model; specific factors model, Heckscher-Ohlin model; 2. New trade models: Economies of scale and imperfect competition; 3. Trade policies: Tariffs; Export subsidies and taxes; non-tariff barriers to trade (food standards) 4. International agreements on trade and the environment; Economics of climate change, mitigation and adaptation policies 5. Agriculture and climate change (hints) 6. Measuring the economic impact of climate change in agriculture 7. Mitigation and adaptation policies and the Common Agricultural Policy 8. Applications
The teaching is based on formal lessons, as well as on the presentation and discussion of specific empirical studies (papers) related to the different topics of the course; the classroom exercises can be based on specific homework assigned by the teacher.
Textbooks: 1. Feenstra R. C. e Taylor A. M. (2014). International Trade, Worth MacMillan, New York. 2. Tol S.J.R. (2018). Climate economics, Second edition, Elgar Publishing. 3. Teacher's Slides (available on Ariel) 4. Readings suggested by the teacher (available on Ariel).
BASICS OF APPRAISAL - objective and subjective theory of value APPRIASAL CRITERIA TOTAL ECONOMIC VALUE - Public goods - The divestiture of public assets - Monetary and non-monetary assessment METHODS ENTERPRISES ASSESSMENT - Balance sheet, income, financial, mixed methods METHODS FOR THE EVALUATION OF PRIVATE INVESTMENTS - Business Plan METHODS FOR THE EVALUATION OF PUBLIC INVESTMENTS - Cost-benefit analysis - multi-criteria analysis METHODS OF PUBLIC-PRIVATE INVESTMENT - Project financing THE EXPROPRIATION OF PRIVATE PROPERTY EASEMENT OTHER REAL RIGHTS CIVIC USESPART FARMLAND APPRAISAL REAL ESTATE ENVIRONMENTAL APPRAISAL Basics of Environmental Economics- Environmental Impact Assessment - Strategic Environmental Assessment CADASTRAL APPRAISAL
Formal lessons and thematic labs
MARIO POLELLI: NUOVO TRATTATO DI ESTIMO Maggioli Editore (2008) Teacher's Slides