UNIVERSITY OF KENT

SECTION 1: MODULE SPECIFICATIONS

  1. Title of the module

Agricultural, Food and Natural Resource Economics

  1. School or partner institution which will be responsible for management of the module

School of Economics

  1. Start date of the module

Spring 2015

  1. The number of students expected to take the module

30-45 students

  1. Modules to be withdrawn on the introduction of this proposed module and consultation with other relevant Schools and Faculties regarding the withdrawal

None

  1. The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M])

Level H

  1. The number of credits and the ECTS value which the module represents

15 credits (7.5 ECTS)

  1. Which term(s) the module is to be taught in (or other teaching pattern)

Spring

  1. Prerequisite modules

i.)EC500 or ii) EC313 and EC532

  1. The programmes of study to which the module contributes

This module is optional for all students studying single honours and European degrees in Economics and for the students on joint economics degree programmes. The module is also available for students registered on the BSc Environmental Social Sciences degree.

  1. The intended subject specific learning outcomes

The module will introduce students to the study of agriculture, food and resource economics using microeconomics. Specifically, the module will provide students with an overview of microeconomic theories that have been developed and used to understand important resource management issues. The module will draw on current debates and topics in agricultural and food production, organisation of supply chains, public policy issues and resource pricing.

By the end of the module, students will:

11.1Understand how a variety of microeconomic concepts, such as profit maximisation, asymmetric information, risk and uncertainty, and market failure have been used to investigate various aspects of agricultural, food and natural resource economics;

11.2Understand how various types of data sources (eg, household surveys, national statistics) can be used to test economic theories and guide economic policies;

11.3Be able to construct coherent economic arguments by making reference to microeconomic theories and empirical evidence on individual decision-making and business strategy;

11.4Be able to assess critically different theories about the behaviour of households, farmers, manufacturers and government in this sector of the economy using existing theories and evidence on individual decision-making;

11.5Be able to discuss critically the effectiveness of various agricultural, food and resource related policies – e.g. CAP, commodity price volatility, contractual arrangements– in the context of existing theories and evidence on decision-making;

11.6Be able to solve simple microeconomic models that can shed light on phenomena related to agriculture, food and natural resources;

11.7Be able to analyse microeconomic data using statistical methods and software (eg, Microsoft Excel).

  1. The intended generic learning outcomes

By the end of this module, students will:

12.1Be able to reflect critically on the potential application of economic models to real-world problems;

12.2Be able to address an economic problem using deductive and inductive reasoning;

12.3Be able to review a body of literature for arguments or evidence pertinent to an economic question, and draw conclusions from it;

12.4Be able to present economic arguments coherently in writing;

12.5Be able to plan work and study independently;

12.6Be able to retrieve information from a variety of sources.

  1. A synopsis of the curriculum

The following topics will be covered in the module.

  1. Agricultural Production Theory
  2. Agricultural Policy: CAP Pillars I and II
  3. Supply coordination in the food chain
  4. Commodity Price Volatility
  5. Food and Health
  6. Forestry Economics
  7. Fisheries Economics
  8. Productivity and Resource Degradation
  1. Indicative Reading List

Core texts:

Barkley, A. and Barkley, P.W. (2013). Principles of Agricultural Economics. Routledge.

Conrad, J.M. (2010). Resource Economics (2nd Edition).

Williams, J. (2013). Competition and Efficiency in International Food Supply Chains Improving Food Security, Routledge.

Recommended reading:

Allen, D.W. and Lueck, D. (2002). The Nature of the Farm. Contract, Risk and Organisation in Agriculture, MIT.

Besanko, D., Dranove, D., Shanley, M. and Schaefer, S. (2007). Economics of Strategy (4th Edition). John Wiley and Sons.

Heathfield, D.F. and Wibe, S. (1987). An Introduction to Cost and Production Functions, MacMillan Press.

Mazzocchi, M., Traill, W.B. and Shogren, J.F. (2009). Fat Economics. Nutrition, Health, and Economic Policy, OUP.

Norton, G.W., Alwang, J. and Masters, W. (2010). Economics of Agricultural Development. World Food Systems and Resource Use (2nd Edition). Routledge.

Wansink, B. (2007). Marketing Nutrition. Soy, Functional Foods, Biotechnology, and Obesity. University of Illinois Press.

It is anticipated that students will read papers in top field journals including the American Journal of Agricultural Economics, European Review of Agricultural Economics, Journal of Agricultural Economics, Food Policy, Ecological Economics, Journal of Economic Perspectives and others. In addition, various articles and book chapters willbe included in the assigned readings and/or referenced in the lectures. In each instance, it will be ensured that students are able to obtain the readings freely using available electronic resources such as a link from the module Moodle page.

  1. Learning and Teaching Methods, including the nature and number of contact hours and the total study hours which will be expected of students, and how these relate to achievement of the intended module learning outcomes

Lectures: 10two-hour lectures (one per week), examining the topics outlined above. The lectures will examine specific topicsof interest using theory, data and statistical analysis. All lectures will explain why the topic is relevant for understanding issues related to agriculture, food and resource management and for formulating effective policy responses.Students will be assigned readings from the assigned text, book chapters and journal articles in preparation for the lecturers.

Total Hours: 20

Relation to Learning Outcomes: 11.1, 11.2, 11.4, 11.5 and 11.6; 12.1 and 12.2

Seminars: 9 one-hour seminars. Seminars will require students to prepare answers in advance for a number questions, plus reading of identified material. In addition, a number of problem sets will involve students using Microsoft Excel to solve resource allocation problems.

Total Hours: 9

Relation to Learning Outcomes: 11.1 – 11.7; 12.1 – 12.3, 12.5 and 12.6

Assignments: Over the course of the term, students will be required to work on, and hand in,two assignments. These will involve solving and interpreting theoretical models in microeconomics, doing surveys of, and drawing conclusions from, existing empirical evidence on particular agricultural, food and resource issues, and, potentially,the interpretation of data and statistical results provided in the assignment questions. The assignments will be summative. Students will receive comments and feedback on all submitted work.

Total Hours: 40

Relationship to Learning Outcomes: 11.1 – 11.7; 12.1 – 12.6

Independent Learning Hours: This will include time spent on reading in preparation for lectures, preparation for seminar presentations, and preparatory reading for the exercises.

Total Hours: 81

Relationship to Learning Outcomes: 11.1 – 11.7; 12.1 – 12.6

  1. Assessment methods and how these relate to testing achievement of the intended module learning outcomes

Assessment will be based on a two-hour final examination, which will count for 80% of the final grade, and the two summative assignments will count for 20% of the final grade.

Summative in-term assignments will be composed of short technical questions assignment (4 or 5 questions; total of 1,500 words) (10%) in week 7 and a longer essay (2,000 words) (10%) to be submitted in week 12.

The final examination will be composed of two parts. Section A will require students to answer a number of shorter (technical) questions. Section B will be a longer essay. Both parts of the final exam will carry equal weighting (50:50).

A resit examination will be available for students who fail the final examination. The mark for the resit examination will be capped at 40% of the full mark.

% of Final Mark / Assessment of Learning Outcomes
Assignments / 20% / SLO 11.1-11.7 and GLO 12.1-12.6
Final Examination / 80% / SLO 11.1-11.6 and GLO 12.1-12.4
  1. Implications for learning resources, including staff, library, IT and space

The library should stock itself with copies of the main texts. No other implications are foreseen at the present stage.

  1. The Schoolrecognises and has embedded the expectations of current disability equality legislation, and supports students with a declared disability or special educational need in its teaching. Within this module we will make reasonable adjustments wherever necessary, including additional or substitute materials, teaching modes or assessment methods for students who have declared and discussed their learning support needs. Arrangements for students with declared disabilities will be made on an individual basis, in consultation with the University’s disability/dyslexiasupport service, and specialist support will be provided where needed.
  1. Campus where module will be delivered:

Canterbury

If the module is part of a programme in a Partner College or Validated Institution, please complete the following:

  1. Partner College/Validated Institution:Not Applicable
  2. University School responsible for the programme:Not Applicable

SECTION 2: MODULE IS PART OF A PROGRAMME OF STUDY IN A UNIVERSITY SCHOOL

Statement by the School Director of Learning and Teaching/School Director of Graduate Studies (as appropriate): "I confirm I have been consulted on the above module proposal and have given advice on the correct procedures and required content of module proposals"

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Director of Learning and Teaching/Director of Graduate Studies (delete as applicable)
…………………………………………………
Print Name / ......
Date

Statement by the Head of School: "I confirm that the School has approved the introduction of the module and, where the module is proposed by School staff, will be responsible for its resourcing"

......
Head of School
…………………………………………………….
Print Name / ......
Date

SECTION 3: MODULE IS PART OF A PROGRAMME IN A PARTNER COLLEGE OR VALIDATED INSTITUTION

(Where the module is proposed by a Partner College/Validated Institution)

Statement by the Nominated Officer of the College/Validated Institution (delete as applicable): "I confirm that the College/Validated Institution(delete as applicable) has approved the introduction of the module and will be responsible for its resourcing"

......
Nominated Responsible Officer of Partner College/Validated Institution
………………………………………………….
Print Name
…………………………………………………..
Post / ......
Date

………………………………………….

Partner College/Validated Institution

Module Specification Template
Last updated January 2013

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