ECONOMICS OF THE AGRI-FOOD SYSTEM
Learning outcomes of the course unit
Understanding the Italian and European agri-food system, both with a supply chain and industry perspective and the food consumers’ perception and preferences.
Course contents summary
The course illustrates the institutional and organizational dynamics involved in production, processing and retail of food products, including food quality and safety standards (e.g. PDO, PGI, organic production, etc.). This course allows also students to gain knowledge about the public intervention in the agri-food system, with a specific analysis of the EU policies for agriculture, rural development, food quality and safety.
1) Micro-economics: demand and supply; perfect competitive markets; theory of production.
2) Agri-food system organisation: supply chain; vertical and horizontal integration process.
3) Cooperatives and producer’s associations: cooperatives’ role in the agri-food system; elements of the cooperatives’ balance sheet.
4) Quality specification in the agri-food system and Geographical Indications: quality attributes of food products; asymmetric information, moral hazard and adverse selection; compulsory public regulations; voluntary certification schemes; economics of traditional and quality certified products (e.g. PDO/PGI).
5) Agricultural policy: evolution of Common Agricultural Policy (CAP); market sustain and rural development policies (multifunctionality).
6) Food safety policy: European Union policy for food safety: European Food Safety Authority (EFSA) and traceability.
- Selected readings, edition 2010/2011. Further readings will be uploaded on the teacher’s webpage
- F. Ferretti, F. Messori (2010) Economia del mercato dei prodotti agroalimentari, Il Sole 24 Ore Edagricole.
Lectures and seminars
Assessment methods and criteria