Learning outcomes

The course is aimed to the students who wish to study the specific isses linked to the markets and agri-food businesses with focus on the EU and Italian wine sector. The course try to transferthe main aspects and rules of the Italian agricultural food market analyzing the structures of production, consumption, employment and economic value. A critical approach to the analysis will be addressed. Part of the course will be devoted to the models of supply and demand for the agricultural and food products, as well as the polcies to managing and control the supply. The regulation of local products and their value in the Italian agro-food system will be addressed in reference to the common agricultural policy.

Program

The course covers the following topics:
1) Market and characteristics of the Italian agricultural and food products: analisis of the market and food system concepts; quality productions and European system/Italian (PDO, PGI - the pyramid of quality). 2) European agricultural policy (CAP) and structural policies; the "food quality" policies, the environment and sustainability policies. 3) The theory of agricultural demand(focus to the EU and Italian wine sector); price elasticity of demand; consumer spending and income of the producer; income elasticity of demand and cross-elasticity. 4) The supply of food products: theory and analysis of the curve. Individual and aggregate supply: examples and focus on the wine industry. Adjustment of production in relation to price changes. 5) Prices formation in the agricultural and wine sector: market structures; perfect competition and the interaction between supply and demand. Barriers and market imperfections. Monopoly and oligopoly. 6) The organization of the food system and agricultural markets. Producers organizations, cooperatives and consortium systems: opportunities and constraints. References to the wine system. 7) The marketing of the agricultural and food products: the opportunities given by the European agricultural policy.

Examination Methods

Written Examination. The exam will be based on open questions focusing on the topics treated in the course. Textbooks, used during the lessons, are recommended by the professor for exam preparation.

Texbooks:
- Davide Gaeta, Paola Corsinovi (2014), Economics, Governance, and Politics in the Wine Market: European Union Developments.
Palgrave Macmillan, USA. http://www.palgrave.com/products/title.aspx?is=9781137398499
- Flavio Messori, Fabrizio Ferretti (2010), Economia del Mercato agro-alimentare. Edagricole.