New Course Proposal: FRE 360 New Course Proposal Aug 2020
Each year I teach COMM/FRE 295 and FRE 501. Please note that registration in FRE 501 is restricted to students who are enrolled in the Masters of Food and Resource Economics (MFRE) program
Managerial Economics Comm_FRE295_Vercammen_Outline
I have taught this course for the past 16 years with an occasional break.
This course covers the economic foundations of managerial decision making. Topics include the supply and demand model, the empirical analysis of demand, consumer choice, production and costs, the organization of the firm, price determination under perfect competition and monopoly, strategies for pricing with market power, oligopoly, monopolistic competition, applications of game theory to business strategy, decision–making under uncertainty, asymmetric information, the agency problem, and market failure. The course uses a variety of mathematical techniques, including graphs, algebra, and calculus.
Commodity Markets and Price Analysis
FRE 501 examines food prices using various perspectives. The first third of the course theoretically examines the determination of agricultural commodity futures and spot prices (e.g., corn, wheat and soybeans). Interested students can learn speculative trading strategies by trading commodities in a simulated futures market. The middle third of the course uses an industrial organization framework to examine strategic elements of pricing in wholesale and retail food markets. The final third of the course is devoted to empirical analysis: pricing trends, volatility, co-movement and options on futures for agricultural commodities.