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 Credits

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

Credit Hours Narrative

3 Credits

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