Outline

Overview

In the contemporary agricultural sector, an understanding of both ‘traditional’ agricultural markets and emerging markets for agricultural environmental services is crucial. This unit of study will provide all Agricultural Science students with a fundamental knowledge of food and fibre (crop) markets and livestock markets in Australia and internationally and will introduce students to the analysis of the economic mechanisms through which these markets operate. Important environmental markets that intersect with agricultural production systems, including water, carbon, biodiversity and energy markets, will also be studied. These markets are rapidly becoming important source of income to farmers in Australia and elsewhere. Students will develop skills to analyse the economic dynamics of these markets, and how they interact with more traditional agricultural practices.

Unit details and rules

Academic unit	Life and Environmental Sciences Academic Operations
Credit points	6
Prerequisites ?	AGRI1001 or ECON1001
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Chandana Maitra, chandana.maitra@sydney.edu.au

Assessment

The census date for this unit availability is 1 September 2025

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Written exam ?	Final exam Mix of MCQs and Short Answer Questions	50%	Formal exam period	2 hours	AI prohibited
Outcomes assessed:
Q&A following presentation, submission or placement	In-class presentation/Q&A In-class Presentation/Q&A (during lecture).	10%	Multiple weeks	4 minutes	AI prohibited
Outcomes assessed:
In-class quiz	Canvas quiz Early feedback task quiz	0%	Week 03 Due date: 15 Mar 2025 at 23:59	15 minutes	AI allowed
Outcomes assessed:
Written test ?	In-semester test Mix of MCQ and Short Answer Questions.	25%	Week 07 Due date: 17 Sep 2025 at 13:00	1 hour	AI prohibited
Outcomes assessed:
Case studies	Field report Case study (written) report on field trip	15%	Week 12 Due date: 31 Oct 2025 at 23:59	800-1000 words	AI allowed
Outcomes assessed:
= group assignment ? = early feedback task ?

Early feedback task

This unit includes an early feedback task, designed to give you feedback prior to the census date for this unit. Details are provided in the Canvas site and your result will be recorded in your Marks page. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

Assessment summary

Early feedback task: Multiple choice questions to test your prior knowledge of agricultural economics based on your learning in AGRI1001. The quiz is designed to give you feedback before the census date for this unit. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

In class presentation: Short presentation on a topic from the previous week's lecture followed by Q&A with instructor and peers.
In-semester test: IST will cover all material in the unit from weeks 1-6. The exam will have a mixture of multiple choice questions and short answer questions.
Field report: Reseatch-based case study report based on the field trip in Week 8.

Final exam: The exam will cover all material in the unit from weeks 1-13. The exam will have a mixture of multiple choice questions and short answer questions.

Detailed information for each assessment can be found on Canvas. Submission instructions are published on Canvas.

Assessment criteria

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100
Distinction	75 - 84
Credit	65 - 74
Pass	50 - 64
Fail	0 - 49	The learning outcomes of the unit of study have not been met to a satisfactory standard.

For more information see guide to grades.

Use of generative artificial intelligence (AI)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

In accordance with University policy, these penalties apply when written work is submitted after 11:59 pm on the due date: - Deduction of 5% of the maximum mark for each calendar day after the due date. - After ten calendar days late, a mark of zero will be awarded. Late penalties will be applied according to Faculty of Science policy on late penalties

Academic integrity

The University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction to the Unit	Lecture (2 hr)
Week 02	Product differentiation: Commodities vs highly differentiated agricultural products	Lecture and tutorial (3 hr)
Week 03	Inventory (Stock/Flow) Management and Price dynamics	Lecture and tutorial (3 hr)
Week 04	Market integration (global-to-local) and Trade I: Analytical tools	Lecture and tutorial (3 hr)
Week 05	Market integration (global-to-local) & Trade II: Agricultural policy and trade agreements	Lecture and tutorial (3 hr)
Week 06	Financial risks and Markets for derivative contracts in agricultural commodities	Lecture and tutorial (3 hr)
Week 07	1-hour In-semester Test (IST) + 1-hour Guest Lecture (Topic TBA) + 1 hour Tutorial	Lecture and tutorial (3 hr)
Week 08	Field trip	Field trip (3 hr)
Week 09	Environmental markets: new opportunities for agriculture	Lecture and tutorial (3 hr)
Week 10	Carbon markets	Lecture and tutorial (3 hr)
Week 11	Biodiversity markets	Lecture and tutorial (3 hr)
Week 12	Water market	Lecture and tutorial (3 hr)
Week 13	Energy market	Lecture and tutorial (3 hr)

Attendance and class requirements

Attendance: Unless otherwise stated, students are expected to attend at least 80% of timetabled activities. A student may fail this unit of study because of inadequate attendance. Participation in the timetabled field trip is mandatory.
Lecture recording: Most lectures (in recording-equipped venues) will be recorded and may be made available to students on Canvas. However, if the recording fails due to technical reasons or otherwise (which does happen from time to time), your instructor may not create a new recording. Moreover, you should not rely on lecture recording to substitute your classroom learning experience.
Preparation: Students should commit to spending approximately three hours preparation time (reading, studying, homework etc.) for every hour of scheduled instruction.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Reading list will be available in Canvas.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. Demonstrate sound knowledge of the main types of agricultural product and agricultural environmental service markets and their characteristics.
LO2. Demonstrate knowledge of the linkages between domestic and international markets.
LO3. Relate economic theory concepts to the functioning of agricultural products and environmental service markets.
LO4. Critically apply theoretical understanding to conduct an economic analysis of linkages, complementarities, and contest among agricultural products and agricultural, environmental and energy markets.
LO5. Evaluate and analyze changes in agricultural product & environmental service markets using simple quantitative economic models.
LO6. Communicate economic thinking effectively to a broader audience.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No feedback yet. This is a new unit - offered for the first time.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links

AGRI2002: Agricultural and Environmental Markets

Semester 2, 2025 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Disclaimer

On this page

Useful links