Economics of Food Markets

Topics include the reasons for, and the economic analysis of, government intervention in food production, food distribution and food consumption; agri-food policies in selected countries; food standards and international trade, world food security; and agriculture in the World Trade Organization (WTO). Prescribed Texts: There is no prescribed text. Readings based on journal articles will be provided through the LMS.

• 1explain the reasons for government intervention in the agri-food sectors of several countries and identify the policy objectives being pursued;
• 2critically analyse the economic effects, including the trade and welfare effects, of the policy instruments employed;
• 3synthesise the current policy issues in the agri-food sectors of the world economy including issues such as trade and the volatility of food prices, and trade and food safety;
• 4critically analyse the issue of world food security;
• 5explain the position of agriculture in the WTO; and critically appraise the current proposals under negotiation in the WTO.