Undergraduate Course: Advanced Agricultural Economic Modelling Tools (VETS10040)
|School||Royal (Dick) School of Veterinary Studies
||College||College of Medicine and Veterinary Medicine
|Credit level (Normal year taken)||SCQF Level 10 (Year 4 Undergraduate)
||Availability||Available to all students
|Summary||The 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.
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)
||Other requirements|| None
Information for Visiting Students
|High Demand Course?
Course Delivery Information
|Academic year 2022/23, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
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
|Assessment (Further Info)
|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 will be supplied within 15 days of the submission deadline
|No Exam Information
On completion of this course, the student will be able to:
- Evaluation of different methods applied to model the supply of a commodity and the demand for factors of production;
- Estimation and calibration of parameters of demand models aimed to be used for policy analysis;
- Construction of partial equilibrium models that consider either one market or several (multimarket models) and their use for policy analysis;
- Understanding of supply and demand components of a commodity market.
|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.
|Course organiser||Dr Cesar Revoredo-Giha
|Course secretary||Mr Gordon Littlejohn
Tel: (0131 6)51 7454