The candidate should have knowledge of the theory and concepts of cost-benefit analysis and their applications in food, agricultural and natural resource economics. They should have advance training in agricultural and natural resource economics, and a good appreciation of the role of economic analysis in understanding processes of policy formation and implementation of natural resource policies with application in the agricultural sector. The main objective of this course is to provide a critical analysis of agri-food marketing, income and safety net policies in developed countries. Advanced undergraduate students are exposed to economic analysis of major agri-food policies and programs in Canada, the United States and in the European Union in this course. At the conclusion of this course, students are expected to develop a good understanding of the agri-food policy environment, the policy formulation process and the institutions or groups involved in agri-food policy making in these jurisdictions. Students should also be able to use relevant economic tools to develop a good conceptual understanding of the changing nature of various government policies and their economic consequences. Finally, students should be able to use appropriate economic tools to analyse efficiency and distributional implications of major farm programs and safety net initiatives in developed countries.