AGRI 250 Agricultural Markets

This course will focus on the study of economics of agricultural markets and pricing institutions; analysis of supply, demand, elasticity, future markets; institutional arrangements in food marketing.

Credits

3

Semester Contact Hours Lecture

45

General Education Competency

[GE Core type]

AGRI 250Agricultural Markets

Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.

I. General Information

Department

Agriculture

II. Course Specification

Course Type

Program Requirement

General Education Competency

[GE Core type]

Credit Hours Narrative

3

Semester Contact Hours Lecture

45

Grading Method

Letter grade

Repeatable

N

III. Catalog Course Description

This course will focus on the study of economics of agricultural markets and pricing institutions; analysis of supply, demand, elasticity, future markets; institutional arrangements in food marketing.

IV. Student Learning Outcomes

Upon completion of this course, a student will be able to:

  • Describe free-market principles including: supply, demand, Invisible Hand, reward-punishment
  • Discuss, at a basic level, how food is marketed in the US and globally
  • Identify major food marketing firms and various levels (wholesale, retail)
  • Describe importance of "middleman"
  • Identify and describe international trade agreements
  • Describe methods of risk management relating to agricultural products
  • Describe basic concepts relating to futures markets and their uses
  • Implement basic marketing skills for successful management decision-making

V. Topical Outline (Course Content)

Unit Topic 1 Marketing Activity 2 CME Video 3 Food Marketing 4 Supply and Demand 5 Elasticity 6 Market Structure 7 Price Discovery 8 CME Video/ Futures Markets 9 Options Markets 10 Consumption 11 Retail & Foodservice 12 Global Markets 13 Government 14 Market Power 15 Advertising 16 Grades &Standards 17 Marketing Margins 18 Transportation 19 Grain Marketing 20 Livestock Marketing 21 Guest Lecture 22 Guest Lecture 23 Guest Lecture

VI. Delivery Methodologies