Agricultural and Food Economics (AFECO)

With an internationally focused postgraduate study programme, students will gain the necessary knowledge and skills for awareness, analysis and development of market activities along the agricultural/food value chain, from production on farms, via processing and trading, up to the consumption of food. They will be prepared for executive positions in businesses, organisations and political institutions within the global food system and its associated sectors as well as for research at the highest level. Due to the complexity of the food system and the variation of professional needs, the study programme offers options for several major and minor specifications: The "Agribusiness" major specification covers the whole range of management issues within the agricultural and food sector. Students will gain in-depth problem solving knowledge in a multitude of fields including financial accounting and business analysis, production planning and investment appraisal, financial and risk management as well as quality management and marketing. "Agricultural and Development Policy" as a major specification provides the basis for the sound understanding of economic behaviour in the agri-food sector and rural economies of developed and developing countries, and of the interaction within a globalised food system. Students will gain in-depth knowledge about the functions and impacts of agri-food and development policies and how changes herein affect the various actors along the food chain. Courses in the "Market and Consumer Research" major specification apply the principles of economics and management to provide students with the skills for analysing food markets and consumer behaviour. Students gain insights with respect to food policy and trade issues, the management of risk in and the structure of food markets. In addition, students acquire comprehensive knowledge regarding theories and models of consumer behaviour as well as qualitative and quantitative market research tools and techniques. The courses in the "Resource and Environmental Economics" specification address topics such as renewable and non-renewable resource use, valuation of environmental changes, direct and indirect influences of food demand on the environment, and national and international environmental policies in theory and practice.