Food Firms, Consumers & Markets I
This course examines the application of microeconomic theory to food markets. Topics covered include: optimizing behaviour by economic agents, the certainty equivalent profit model and decision making under risk, optimal capital replacement models and their application to food system economics, consumer behaviour with respect to food products and behaviour with respect to food products and behaviour of marketing intermediaries and food processors. New developments in the economic theory of the form are surveyed.
(Offered in alternate years.)
Prerequisite(s): ECON*2310, ECON*3740