Valuing Circular Food Economies

Catalog description

When it comes to decisions about scarce resources, the social science known as agricultural economics provides a foundation for informed policy decisions about natural resources such as water and land use; or decisions regarding produced and manufactured resources such as food and clothing. Agricultural economists use a variety of modeling tools to consider optimal behaviors, including how we can reconsider linear systems of production into circular and regenerative ecosystems, referred to as a circular economy. A Cost-Benefit Analysis (CBA) is one systems-thinking tool we use for evaluating complex projects and simple decisions, to evaluate and model the pros and cons of economic decisions. CBA can be applied across a broad array of disciplines including agronomy, engineering, geography, education, medicine, law, finance, human factors, psychology, and many others. CBA project managers and thinkers in society evaluate expectations about rewards (from a decision or action), and costs (including long-term repercussions), to achieve desired outcomes. This course addresses the pressing question, “How can we create and sustain circular food system benefits and evaluate intended and unintended impacts to society from our decisions, to optimize use and conservation efficiency of scarce resources?” As an economic policy tool, we collect, analyze, and communicate research results, build consensus among diverse groups (when it is natural for conflicts to arise), and work towards formulating equitable solutions. The goal of this course is to develop a data-driven perspective through selected readings and experiential classroom activities; to think about factors relevant to the quest by reflecting on knowledge gained; to communicate findings through concise, focused, and goal-oriented analytical writing assignments; to engage in classroom and online discussions to share diverse…