Economics of Agricultural Markets
A.Y. 2023/2024
Learning objectives
To develop the essential expertise on domestic and international agricultural markets and basic skills in order to work professionally.
Specific goals concern expertise on:
- conceptual and methodological framework for economic analysis of agricultural markets;
- analysis tools for agricultural markets;
- main characteristics of national and international agricultural markets;
- agricultural price discovery both at national and international level;
- key data sources of market information and analysis.
Specific goals concern expertise on:
- conceptual and methodological framework for economic analysis of agricultural markets;
- analysis tools for agricultural markets;
- main characteristics of national and international agricultural markets;
- agricultural price discovery both at national and international level;
- key data sources of market information and analysis.
Expected learning outcomes
- understanding of agricultural markets functioning and characteristics (standards, contracts, derivatives, etc.);
- ability to obtain market information;
- ability to analyze price and production trends;
- market price data processing (validation, sorting, summarization, aggregation, classification, analysis, reporting)
- ability to obtain market information;
- ability to analyze price and production trends;
- market price data processing (validation, sorting, summarization, aggregation, classification, analysis, reporting)
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
First semester
Course syllabus
ECONOMICS OF NATIONAL AGRICULTURAL MARKETS (3 CFU)
Main features of agricultural products' supply and demand (seasonality, cyclicality, intermediate and final demand). Supply Grouping Institutions (Producer Associations and Organizations, Agro-food Districts, Processing and Marketing Cooperatives). Price formation (wholesale markets, commodity exchanges, inter-branch agreements, growing contracts, vertical integration, direct selling). Supply chain (definition, modeling, measurement). National agricultural supply chains (cereals, oilseeds and protein crops; fruit and vegetables; wine products; meat industry; milk and dairy products). Information sources: ag-markets analysis and dissemination (Istat, Ismea, CCIAA).
ECONOMICS OF INTERNATIONAL AGRICULTURAL MARKETS (3 CFU)
Agro-food Global Scenario (production, consumption and price evolution), the State of Food Insecurity, Mid-Term Perspective. Guide to use the investigation and update sources (websites; datasets, such as FAOSTAT, OECD, World Bank, IMF; public periodic update reports). International agro-commodity markets: main features (price formation, organized exchanges); contracts (physical and financial markets); the futures market (players, price formation mechanism, options, hedging).
Main features of agricultural products' supply and demand (seasonality, cyclicality, intermediate and final demand). Supply Grouping Institutions (Producer Associations and Organizations, Agro-food Districts, Processing and Marketing Cooperatives). Price formation (wholesale markets, commodity exchanges, inter-branch agreements, growing contracts, vertical integration, direct selling). Supply chain (definition, modeling, measurement). National agricultural supply chains (cereals, oilseeds and protein crops; fruit and vegetables; wine products; meat industry; milk and dairy products). Information sources: ag-markets analysis and dissemination (Istat, Ismea, CCIAA).
ECONOMICS OF INTERNATIONAL AGRICULTURAL MARKETS (3 CFU)
Agro-food Global Scenario (production, consumption and price evolution), the State of Food Insecurity, Mid-Term Perspective. Guide to use the investigation and update sources (websites; datasets, such as FAOSTAT, OECD, World Bank, IMF; public periodic update reports). International agro-commodity markets: main features (price formation, organized exchanges); contracts (physical and financial markets); the futures market (players, price formation mechanism, options, hedging).
Prerequisites for admission
Essentials of Economics. Farm management. National and international agro-food policies.
Teaching methods
The teachers will supply the teaching equipment directly for memory devices and the information to approach Reports, News and Statistics on the Web. Some lectures and seminars with agro-food market's players and experts on topics related to the course will be organized.
Teaching Resources
Zuppiroli M. Mercati finanziari delle commodity agricole, Il Mulino 2019
Slides by teachers available through ARIEL
Articles, reports and other in-depth materials downloadable from the Web
Slides by teachers available through ARIEL
Articles, reports and other in-depth materials downloadable from the Web
Assessment methods and Criteria
The assessment of learning takes place through an oral test, including a PowerPoint presentation of a case study. The evaluation criteria will be the reasoning skills and the ability to link technical and economic topics.
AGR/01 - AGRICULTURAL ECONOMICS AND RURAL APPRAISAL - University credits: 6
Practicals: 16 hours
Lessons: 40 hours
Lessons: 40 hours
Professor:
Frisio Dario Gianfranco
Professor(s)