Economics of Resource Allocation: Food and Agriculture

Catalog description

Beginning class that focuses on the specific microeconomic principles that are needed to understand the food industry, agricultural production, food safety and production of renewable natural resources. Focuses extensively on the detailed information that students need to understand the nuances of specific issues associated with the food, agriculture and renewable natural resources, including a keen understanding of monopolistic competition, the economic rationale for governmental regulation, effects of property rights on renewable resources, agricultural price supports, prospect theory and behavioral economics.