2025
Agricultural and Food Economics
Name: Agricultural and Food Economics
Code: ECN09801D
6 ECTS
Duration: 15 weeks/162 hours
Scientific Area:
Ciências Económicas e Sociais
Teaching languages: Portuguese
Languages of tutoring support: Portuguese
Sustainable Development Goals
Learning Goals
The aim is that students:
1) identify the basic economic problem of choice in a context of scarcity and seize the concepts needed to
approach this problem in terms of agriculture and agri-food sector
2) understand the basis of analysis of production decisions and consumption;
3) seize the structure and behavior of agricultural and agri-food markets;
4) apply the concepts of economic analysis of agriculture and agri-food sector in Portugal;
5) seize the problems and challenges faced by the agriculture and agri-food sector in a changing world.
1) identify the basic economic problem of choice in a context of scarcity and seize the concepts needed to
approach this problem in terms of agriculture and agri-food sector
2) understand the basis of analysis of production decisions and consumption;
3) seize the structure and behavior of agricultural and agri-food markets;
4) apply the concepts of economic analysis of agriculture and agri-food sector in Portugal;
5) seize the problems and challenges faced by the agriculture and agri-food sector in a changing world.
Contents
1. Introduction to economics: scarcity, opportunity cost and choice; market failures and public intervention
The agri-food Portuguese sector: structures and factors of production, economic performance
2. Production and supply of agri-food products: the production function, productivity and factor substitution;
costs, efficiency and profit maximization; supply in the short and long run; characteristics of agri-food supply
3. Demand for agri-food products: utility, consumer choice and demand function; determinants of demand and
characteristics of the demand for food; evolution of food consumption in Portugal
4. Markets and prices of agricultural and agri-food products: demand, supply and market equilibrium; market
instability; prices in an open economy; market structures of the agri-food products
5. Food and Agriculture in a changing world: globalization and new challenges to agriculture and agri-food
sector; the agricultural and rural policies in OECD countries
The agri-food Portuguese sector: structures and factors of production, economic performance
2. Production and supply of agri-food products: the production function, productivity and factor substitution;
costs, efficiency and profit maximization; supply in the short and long run; characteristics of agri-food supply
3. Demand for agri-food products: utility, consumer choice and demand function; determinants of demand and
characteristics of the demand for food; evolution of food consumption in Portugal
4. Markets and prices of agricultural and agri-food products: demand, supply and market equilibrium; market
instability; prices in an open economy; market structures of the agri-food products
5. Food and Agriculture in a changing world: globalization and new challenges to agriculture and agri-food
sector; the agricultural and rural policies in OECD countries
Teaching Methods
The discussion of the issues in theoretical and theoretical-practical classes is made continually promoting the
participation of students, calling their knowledge of economics and other complementary areas and
encouraging them to cooperate.
During the theoretical-practical classes and in the seminar the debate is extended around the subjects
presented in the theoretical classes, particularly of the most controversial or perceived as more relevant. The
students are invited to participate through the presentation of themes and the conduct of discussion in the
classroom, involving colleagues in this debate.
Given the nature of the subject content of the UC and the teaching methodology adopted, the assessment of
knowledge is based on two distinct but complementary components:
1. the work done by the student during the semester and presented in the theoretical and practical classes or
in the seminar, and
2. a final exam involving the whole matter of discipline.
participation of students, calling their knowledge of economics and other complementary areas and
encouraging them to cooperate.
During the theoretical-practical classes and in the seminar the debate is extended around the subjects
presented in the theoretical classes, particularly of the most controversial or perceived as more relevant. The
students are invited to participate through the presentation of themes and the conduct of discussion in the
classroom, involving colleagues in this debate.
Given the nature of the subject content of the UC and the teaching methodology adopted, the assessment of
knowledge is based on two distinct but complementary components:
1. the work done by the student during the semester and presented in the theoretical and practical classes or
in the seminar, and
2. a final exam involving the whole matter of discipline.
Accreditations and Certifications
