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  3. Economics of Food Markets

Economics of Food Markets (ECON30007)

Undergraduate level 3Points: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelUndergraduate Level 3
Subject codeECON30007
Semester 2
FeesSubject EFTSL, Level, Discipline & Census Date

Topics include the reasons for, and the economic analysis of, government intervention in food production, food distribution and food consumption; agri-food policies in selected countries; food standards and international trade, world food security; and agriculture in the World Trade Organization (WTO). Prescribed Texts: There is no prescribed text. Readings based on journal articles will be provided through the LMS.

Intended learning outcomes

On completion of this subject students should be able to:

  • explain the reasons for government intervention in the agri-food sectors of several countries and identify the policy objectives being pursued;
  • critically analyse the economic effects, including the trade and welfare effects, of the policy instruments employed;
  • synthesise the current policy issues in the agri-food sectors of the world economy including issues such as trade and the volatility of food prices, and trade and food safety;
  • critically analyse the issue of world food security;
  • explain the position of agriculture in the WTO; and critically appraise the current proposals under negotiation in the WTO.

Generic skills

  • High level of development: written communication; problem solving; application of theory to practice; critical thinking.

  • Moderate level of development: collaborative learning; team work; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: oral communication.

Last updated: 11 October 2019