AERD40140 Analysis of Prices and Markets in Global Agri-Business

Academic Year 2022/2023

This is a level 4 module that aims to enhance students understanding of agricultural prices and markets, with particular emphasis on the current factors affecting market volatility. The module includes: (1) Overview of main Irish agricultural inputs and outputs and their markets. (2) Review of trends and recent developments in agricultural prices (3) The role of supply and demand in price formulation and the impact of supply and demand shocks on agricultural prices (4) Enhancing students understanding of the inter-linkages between different agricultural markets both domestic and international (5) Mechanisms to offset price volatility.

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Curricular information is subject to change

Learning Outcomes:

This module aims to enhance students understanding of agricultural input and output markets focussing on the drivers of demand and supply for agricultural inputs and outputs, particularly in the context of the highly volatile markets for agricultural commodities that currently prevail. Upon completion of the module students should understand how agricultural prices have evolved, how supply and demand shocks impact on agricultural prices and how farmers respond to these shocks. Students should have gained an understanding of the mechanisms available to farmers to offset price volatility.

Indicative Module Content:

Analysis of factors that impact on supply and demand for agricultural commodities.
The factors that determine the price o agricultural commodities.

Student Effort Hours: 
Student Effort Type Hours
Lectures

28
Computer Aided Lab

8
Autonomous Student Learning

70
Total

106
Approaches to Teaching and Learning:
The module uses a range of approaches to support teaching and learning. These include lectures, in-class discussion and computer lab sessions. Students will develop their analytical skills, computer skills and report writing skills. 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Pre-requisite:
AERD30200 - Statistics and Econometrics


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Class Test: In Class Test, MCQ and Other Short questions Varies over the Trimester n/a Standard conversion grade scale 40% No

15
Examination: Written Exam Week 12 No Standard conversion grade scale 40% No

30
Assignment: Written Assignment: Each student will be assigned an agricultural crop, they will write a review of what has happened in recent years to the supply and demand for this crop as well as the price. Week 5 n/a Standard conversion grade scale 40% No

25
Assignment: Written Assignment: students will build a model of the supply and price for their crop, produce a projection of future supply and price for the crop and write a report detailing the model and projecti Week 11 n/a Standard conversion grade scale 40% No

30

Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring Yes - 1 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

Students will be provided with the results of the quiz within one week of completing the quiz. Students will be provided with individual written feedback on both of their assignments within one week of the assignment being submitted.

Westhoff, P. 2009 The Economics of Food: How Feeding and Fueling the Planet Affects Food Prices. Pearson Education, FT Press. New Jersey 07458
Ferris, John. 2005. Agricultural prices and commodity market analysis. Michigan State Univ. Press.
Goodwin, John W. 1994. Agricultural price analysis and forecasting. New York: John Wiley.
Tomek, W.G., and K.L. Robinson. Agricultural Product Prices, 4th Ed., Cornell
University Press, Ithaca, NY 2003.