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Oct 03, 2024
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2023-2024 WWCC College Catalog [ARCHIVED CATALOG]
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AGBS 221 - Introduction to Food and Agricultural Markets Credits: 5 LEC hours per week: 5 Overview of the marketing system for agricultural commodities. Formerly: AGRI 221. Recommended: One quarter economics. Course Outcomes:
- Describe the organization of the food industry and the role of middlemen.
- Investigate the market structure, characteristics, trends and influences of agricultural production, processing, retailing, and consumption on food marketing.
- Predict market outcomes using economic principles.
- Explain food price relationships and distinguish between price cycles and price variations.
- Describe cost calculations and their uses in measuring efficiencies in the food marketing system.
- Discuss the relationship between market and bargaining power and the impact on the development of marketing arrangements, such as marketing boards and marketing orders.
- Classify types of advertising used in food marketing.
- Compare and contrast transportation and storage options for the food marketing system
- Describe use of the commodity futures markets in protecting against price risk.
Course Topics:
- Components of food marketing
- Structure and characteristics of agricultural production
- Demographics of food consumption
- Structure and characteristics of food processing and manufacturing
- Structure and characteristics of food wholesaling and retailing
- Role of price in the exchange function
- Role of market structure in food markets
- Food price cycles and variations
- Food marketing costs
- Market development and expansion
- Market and bargaining power
- Risk management and the futures market
- Food transportation
- Food storage
Course Attribute(s): Transferable Elective
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