DESCRIPTION OF COURSES
AG ECON 630 AGRICULTURAL PRICE ANALYSIS (2L + 1P) I
(Pre-requisite: AG ECON 510 Agricultural Econometrics I )
The objective of this course to develop the skills of students in modelling price behaviour and estimate demand and supply. Implications of prices, demand and supply for food security and management of food are also covered.
Consumer behaviour. Producer behaviour. Producer and consumer core system. Price determination. Price variability and stabilization. Price forecasting.
Demand for and supply of farm products. Demand for and supply of factor inputs in agriculture. Demand model for durable inputs. Demand for capital and credit. Models for predicting marketed surplus, income growth. Price policy models. Demand supply projections.
Market integration – concept and measurement.
Food Security. Management of Food Stocks - Buffer stocks operations, PDS. Futures market and trading.
Estimation of input and output demand and supply; estimation of price variability; forecasting demand and supply, measuring market integration.