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Unit of study_

AREC3002: Agricultural Markets

This unit of study is designed to provide an understanding of the underlying forces driving agricultural markets. It addresses price analysis and efficiency, including aspects of form, time and space in agricultural marketing; information and contracts; changing consumer concerns (food safety, ethical production); futures market and other risk sharing devices. Building on the application of microeconomic theory to both production and consumption in agricultural markets, its content is analytical. The unit also investigates some of the forces which prevent the efficient operation of world agricultural markets, including impediments to trade, imperfect markets for inputs and outputs and market power along the agricultural supply chain.

Code AREC3002
Academic unit Economics
Credit points 6
AREC2005 or AREC2001 or AGEC2103 or ECOS2001 or ECOS2901

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

  • LO1. demonstrate an understanding of the fundamental concepts in the theory of agricultural markets, and their application in the context of domestic and international agribusiness
  • LO2. demonstrate analytical abilities in the context of agricultural markets.