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DRPS : Course Catalogue : Royal (Dick) School of Veterinary Studies : BSc Hons (Royal (Dick) Sch of Veterinary Studies)

Undergraduate Course: Advanced Agricultural Economic Modelling Tools (VETS10040)

Course Outline
SchoolRoyal (Dick) School of Veterinary Studies CollegeCollege of Medicine and Veterinary Medicine
Credit level (Normal year taken)SCQF Level 10 (Year 4 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThe purpose of this course is to introduce the student to advanced modelling techniques applied within agricultural economics, ranging from methods for representing producer and consumer economic decisions to models that consider the interaction of supply and demand along a commodity supply chain.
Course description This course is to introduce the student to advanced modelling techniques for agricultural economics. The student will learn how to model economic decisions and also market outcomes, such as prices and quantities, to enable a better understanding of how agricultural and food systems operate.

The topics are sequential and the student will be able to build at the end of the course a partial equilibrium model of a market or interrelated markets. In addition, the different models will be used for analysing topics in policy analysis. This course will be delivered by a series of lectures, tutorials, computer laboratory exercises.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Information for Visiting Students
High Demand Course? Yes
Course Delivery Information
Academic year 2022/23, Available to all students (SV1) Quota:  20
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 22, Seminar/Tutorial Hours 20, Formative Assessment Hours 10, Summative Assessment Hours 10, Revision Session Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 132 )
Assessment (Further Info) Written Exam 50 %, Coursework 50 %, Practical Exam 0 %
Additional Information (Assessment) Students will have 4 take-home exercises requiring written answers and evidence of analysis to technical and practical issues on agricultural economics modelling (50%). Students will prepare a paper using the tools presented on the course (40%) and a presentation (10%).
Feedback Feedback will be supplied within 15 days of the submission deadline
No Exam Information
Learning Outcomes
On completion of this course, the student will be able to:
  1. Evaluation of different methods applied to model the supply of a commodity and the demand for factors of production;
  2. Estimation and calibration of parameters of demand models aimed to be used for policy analysis;
  3. Construction of partial equilibrium models that consider either one market or several (multimarket models) and their use for policy analysis;
  4. Understanding of supply and demand components of a commodity market.
Reading List
Additional Information
Graduate Attributes and Skills Enquiry and lifelong learning through awareness and ability to understand and assess the appropriateness of particular modelling approaches for applications within agriculture and food.
Aspiration and personal development, by offering applied quantitative skills for understanding problems within agricultural development.
KeywordsNot entered
Course organiserDr Cesar Revoredo-Giha
Course secretaryMr Gordon Littlejohn
Tel: (0131 6)51 7454
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