Kursussøgning, efter- og videreuddannelse – Københavns Universitet

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Kursussøgning, efter- og videreuddannelse

Applied Economics of Consumption

Practical information
Study year 2016/2017
Time
Block 4
Programme level Full Degree Master
ECTS 7,5 ECTS
Course responsibles
  • Jørgen Dejgård Jensen (6-6e73766b6972446d6a7673326f7932686f)
  • Sinne Smed (2-7878456e6b777433707a336970)
  • Department of Food and Resource Economics
Course number: NIFK15003U

Course content

In this course we consider the various aspects of empirical economic analysis from data generation to interpreting and using the results. An important objective of the course is to train the students in techniques for carrying out independent empirical economic analysis and interpreting and using the outcome of such analysis to answer real life problems. The outset of the course is microeconomic theory to explain consumption behavior and market potentials, but we consider many more aspects of the applied economics than the basic theory.

Topics that we will consider include the suitability of different types of data (e.g. surveys , focus groups, register data) to answer different research questions, advantages and disadvantages of choosing different model types and functional forms. Furthermore we will focus on how to use the outcome of empirical analysis e.g. derivation of economic welfare measures, willingness-to-pay (WTP) measures, market prospects, calculation of consumer surplus, revenue generation, private and social costs. We will also consider aspects as regulation of consumer behavior via taxation and information provision etc. to exemplify how the outcome from our economic models can be used to simulate and generate answers to real life problems. Each of the  above mentioned issues will be derived from microeconomic theory and as such the course will consider empirical work from idea to finished product.

Based on state-of-the-art literature on these aspects, we will work on 2 food-related cases aiming to develop, interpret and use empirical model types relevant for different aspects of business or policy analysis during the course. The two cases are aimed at giving the students hand-on experience of how to work in the field of applied economics. The specific topics to be analysed will be decided at the beginning of the course,if possible based on the interests of the students. Examples may include:

  • Economic consequences of alternative schemes for taxation or subsidization of food consumption – for consumers, suppliers and the public sector.
  • Market potentials for food products with specific attributes
  • Impacts of information on food consumption behavior and its implications for economic welfare.

 

The course will be relevant for you who will be employed to perform or understand empirical economic analyses, whether you will work in a Ministry, an NGO or for a private company, and useful for you that intend to carry out empirical work for your thesis.

Learning outcome

Upon completing this course, the students should be able to
Knowledge

To know the strengths and weakness of different data types for empirical analysis

To know and be able to derive the different functional forms used in empirical consumer economics and the advantages and disadvantages of different model types

To generate and interpret post estimation measures as WTP, consumer surplus, producer surplus,

Skills:

Implement economic consumption theory in empirical models, analyse these models, and interpret the empirical properties of these models, including

  • select appropriate functional forms
  • assess the suitability of empirical data for the analysis
  • undertake empirical (e.g. econometric) analysis of consumption data
  • interpret results of empirical analysis
  • calculate relevant derived measures, e.g. economic welfare loss,  equivalent/compensating variation, willingness-to-pay/​willingness-to-accept, tax revenue, etc.

 

Competences:

  • Conduct empirical economic analysis of consumer behaviour
  • make a short and structured presentation of own empirical work
  • engage in group discussions in English

critically and constructively reflect on the empirical work of other scholars (fellow students as well as published work)

Recommended prerequisites

Students should have a reasonable understanding of mathematics, and statistical analysis. As we will take outset in the basis microeconomic models the students need an understanding of microeconomics and/or public economics corresponding to bachelor degree in economics (or similar topic), to benefit from this course.

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Education

MSc Programme in Agricultural Economics
MSc Programme in Environmental and Natural Resource Economics

Studyboard

Study Board of Natural Resources and Environment

Course type

Single subject courses (day)

Teacher

Jørgen Dejgård Jensen, Sinne Smed, Lars Gårn Hansen

Duration

1 block

Schedulegroup

A
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Teaching and learning methods

The course will combine lectures on relevant microeconomic theories and appropriate methodologies (e.g. functional forms, statistical approaches, economic welfare measures, etc.), applied empirical work on specific topics, and lectures and discussions based on the findings and experiences obtained from the empirical work. During the course, two cases will be analysed empirically. Students are requested to prepare a report on each of these case analyses, upon which an oral exam will be based. One of these case reports may be prepared in groups (maximum 3 members per group)

Capacity

No restrictions

Language

English

Literature

Selected scientific journal articles and textbook sections

Workload

Category Hours
Lectures 36
Preparation 54
Project work 60
Practical exercises 20
Exam Preparation 35
Exam 1
English 206

Exam

Type of assessment

Oral examination, 20 - 30 minutes
Written assignment, during the course
One individual project report
Oral examination

Students must pass all part-examinations individually to pass the overall exam.

The individual project report 50%
Oral exam 50%

Aid

All aids allowed

Marking scale

7-point grading scale

Criteria for exam assessment

The assessment is based on the criteria given by the Learning Outcomes

Censorship form

No external censorship
Two internal examiners

Re-exam

As ordinary exam.

If the student has passed one of the part-exams at the ordinary exam, it can be re-used at the re-exam.

If the student has not handed in the group report, then it must be handed in two weeks prior to the re-exam. It must be approved before the re-exam.

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