Agricultural Markets

Overview

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.

Topic 1: Preferences and Demand

Topic 2: Supply and Market Structure

Topic 3: Marketing System and Margins

Topic 4: Spatial Integration and Trade

Topic 5: Storage and Price Dynamics

Topic 6: Futures Markets

Topic 7: Risk, Insurance, and Pricing Policy

Topic 8: Trade Policy and Negotiations

Topic 9: Price Discovery

Topic 10: Prices and Conflict