AGRIBUS 7055 - Global Food and Agricultural Markets

North Terrace Campus - Trimester 1 - 2021

International food and agricultural markets have changed dramatically over the last several decades due to accelerating technological change, growing international trade, industrial integration, increasing disposable incomes, and rising food safety and environmental concerns. The agri-food system has evolved from producing and selling primarily homogeneous agricultural commodities to focusing more on value-adding, differentiation and coordination with other firms in the food chain. In order to remain competitive, some agribusiness firms are developing more of a marketing orientation, focusing increasingly on product development to meet heterogeneous consumer preferences and distinct market segments. The dynamic and increasingly global nature of food systems increases the need for sophisticated skills in market analysis, market planning and marketing management. This course approaches global food and agricultural marketing from a managerial perspective. It introduces the basic concepts in economic and marketing theories and place them in the unique context of food and agricultural production, processing, distribution, wholesaling and retailing, where discussion of markets are integrated with business marketing principles and strategy. Students will gain an understanding of the unique and changing structural, institutional, organizational and political aspects of food chains, as well as the fundamental economic theories and concepts necessary for analysis of global food and agricultural markets.

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Course Details

Course Code	AGRIBUS 7055
Course	Global Food and Agricultural Markets
Coordinating Unit	Centre for Global Food & Resources
Term	Trimester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Taught as an intensive
Available for Study Abroad and Exchange	Y
Assumed Knowledge	Basic understanding of Agriculture & food production &/or business principles
Assessment	Assignments and in-class exercises, participation

Course Staff

Course Coordinator: Dr Di Zeng

Name:	Dr. Di Zeng
Location:	Room 6.24, Level 6 Nexus 10
Telephone:	8313 6226 (work, email preferred)
Email:	di.zeng@adelaide.edu.au
Consultation hours:	By appointment, please email

Course Timetable

The full timetable of all activities for this course can be accessed from .

Course Learning Outcomes

On successful completion of this course, students will be able to:

Describe the mechanisms of and factors affecting market demand and supply;
Identify the trends and socioeconomic mechanisms in global food markets;
Analyse market opportunities/threats for rising agribusinesses;
Apply basic economic and financial methods to address food market/marketing issues.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

University Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1,2,3,4
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1,2,3,4
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1,2,3,4
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1,2,3,4
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	2,3,4
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	2,3,4

Learning Resources

Required Resources

It is recommended that student also read, view or listen to other material on the topic so they can bring different points of view to class discussions.

Given COVID-restrictions, a follow-up session over Zoom will be held twice a week to allow offshore students to conduct Q & A. In-class students are welcome to join, too, though they are encouraged to ask questions either after each teaching session or see me at agreed time with email arrangements.

Recommended Resources

Please refer to MyUni

Online Learning

Please refer to MyUni
Learning & Teaching Activities
Learning & Teaching Modes

The course will use a participatory approach. Due to COVID-induced restrictions, the course will be taught using a dual approach that allow students to either attend class or participate in remote learning. The 4-hour lectures will use a combination of a regular lecture format, case studies and discussions. The course will make extensive use of MyUni. Students will need check MyUni and their email account regularly.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means students will need to work intensively during the 3-week course.

Learning Activities Summary
Learning Activities Related Learning Outcomes

Lectures 1,2,4

Case studies 1,2,4

Classroom discussions 3,4

Learning Activities Schedule
Topics:
1. Food & agricultural microeconomics I
  
  What is a market?
  
  Economic analysis of markets I
  
  Economic analysis of markets II
2. Food & agricultural microeconomics II
  
  Welfare dynamics
  
  Market structure
  
  Market failure
3. Market mechanisms
  
  Alignment of demand and supply
  
  Agent behaviour
  
  Price dynamics
4. Food & agricultural macroeconommics
  
  The demand side: food consumption
  
  The supply side: agricultural production
  
  Overview of the global food markets
5. International agricultural trade
  
  Economic theories
  
  International agricultural trade practices
  
  Case studies
6. Related markets
  
  Agricultural input markets
  
  Financial markets
  
  Natural resource and environmental markets
7. Agribusiness
  
  The role of agribusiness
  
  Agribusiness management and organisation
  
  Geography, demography and market locations
8. Agricultural marleting
  
  Agricultural marketing I
  
  Agricultural marketing II
  
  Case studies
9. Strategic behaviour under risk and uncertainty
  
  Risk and uncertainty I
  
  Risk and uncertainty II
  
  Review + final exercise

The University's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Task Type	Due	Weighting	Learning Outcome
Attendance (either in-class or virtual)	Individual	Week 3	10%	1,2,3,4
Completion of academic honesty module	Individual	Week 3	2%	1,2,3,4
Interaction and participation	Individual	Week 3	8%	1,2,3,4
Assignment	Individual	Week 3	50%	1,2,3,4
Final exercise	Individual	Week 3	30%	1,3,4
Total			100%

Note that two marks deduction (out of the marks for each assignment) will be given for every working day elapsed after the deadline.

Due to the current COVID-19 situation modified arrangements have been made to assessments to facilitate remote learning and teaching. Assessment details provided here reflect recent updates.

The final one-hour in-class exercise will be implemented in a hybrid mode when students can optionally come to class and do the paper-based exercise or do it remotely online. Remote students will receive the problem set at 12pm that day and will be required to submit their answers by 1pm the same day.

Assessment Detail

Please see MyUni

Submission

All submission of assignments needs to be through MyUni.

Note that two marks deduction (out of the marks for each assignment) will be given for every working day elapses after the deadline.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

Student Feedback

The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 成人大片 is committed to regular reviews of the courses and programs it offers to students. The 成人大片 therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

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