|MSU Agricultural, Food, and Resource Economics||Graduate Education > Markets|
Food and Agricultural Markets
The food and agricultural markets (MKT) field emphasizes economic analysis of commodity production and supply, retail demand for food, and the organization and performance of the food system which transforms raw materials into processed products and delivers them to consumers. The focus is on applied analysis of input markets, output markets, and consumer markets with an emphasis on how firm and industry strategies, along with alternative government policies, influence the structure and performance of market systems. Attention is also given to the underlying institutions and market processes for achieving vertical coordination and supply chain management in the food system, and to how these institutions and processes can be improved. Research and course work in the field emphasize applications to food and agricultural markets in both developed and developing country environments. Extension and outreach programs focus on market outlook, risk management, and marketing policy analyses in both domestic and international application areas.
A strong core of the Department’s faculty works in the MKT field (see the faculty list below). Faculty are involved in undergraduate and graduate teaching, research, and outreach programs in MKT. Research and outreach programs have both domestic and international components, and many faculty working in the field focus on the role of food and agricultural markets in the process of economic development. Many faculty with interests in food and agricultural markets also have strong links to other research areas in the Department, such as firm and agribusiness management, agricultural and trade policy, and international economic development. The resulting mix of faculty with domestic and international interests and expertise provides a rich learning environment, as well as extensive research opportunities and opportunities for involvement with various extension clients.
For Ph.D. students, the Department’s two core courses in applied microeconomics: AEC 900A: Applied Microeconomics I (currently taught as AEC 991: Advanced Topics) and AEC 900B: Applied Microeconomics II (currently taught as AEC 991: Advanced Topics) provide a foundation for the MKT field. These courses focus, among other things, on applied modeling of commodity production and supply, consumer demand, applied welfare economics, industrial organization of the food system, and policy modeling using math programming, simulation, and applied econometric models. Ph.D. students majoring in MKT will then take three field courses, two of which are required for the field and one of which is an elective drawn from a list of options that focus on the role of markets in international development, institutional approaches to food and agricultural markets, food system organization and performance, agricultural and trade policy, and agricultural finance. Individual student course programs will be put together in accordance with student skills and interests with the advice of the student’s major advisor and committee, subject to the field course requirement details provided below.
Masters students with an interest in the MKT field are encouraged to take AEC 900A: Applied Microeconomics I (currently taught as AEC 991: Advanced Topics) and to put together an appropriate program of other courses in the field in consultation with the student’s major advisor and committee.
The Department has a strong tradition of applied research on food and agricultural market systems. These research programs have been directed towards improved understanding of the structure and performance of food and agricultural markets with a view towards improved firm and agribusiness management, industry and market development opportunities, and the analysis of policies designed to impact market outcomes and performance. These research programs have both a domestic and international component. Research clients are in Michigan, other parts of the U.S., as well as in many developing countries. See the faculty list below and the Department research page for more detailed information on research activities in the field.
Ph.D. students with a major field in MKT take two required courses:
*AEC 930 Dynamic Models in Agricultural and Resource Economics
Masters students with an interest in food and agricultural markets should put together a suitable course program in consultation with their major advisor and committee, and are also highly encouraged to take AEC 900A: Applied Microeconomics I (currently taught as AEC 991: Advanced Topics).
Other Courses of Potential Interest
In addition to the courses listed above there are other courses across the University that may be of potential interest to students with an interest in the field. These include:
Duncan H. Boughton, Associate Professor, International Development; Ph.D., Michigan State, 1994; agriculture development, technology assessment, agricultural marketing and policy.
Cynthia Donovan, Assistant Professor, International Development; Ph.D., Michigan State, 1996; agricultural marketing, policy, development.
James H. Hilker, Professor; Ph.D., Purdue, 1982; agricultural outlook, commodity marketing.
Thomas S. Jayne, Professor, International Development; Ph.D., Michigan State, 1989; agricultural development, food policy, marketing.
Songqing Jin, Assistant Professor; Ph.D., University of California, Davis, 2004; land tenure, agricultural technology and agricultural research, rural non-farm employment, rural labor migration.
Nicole Mason, Assistant Professor, International Development. Ph.D. Michigan State, 2011; food security, marketing and price analysis, rural livelihoods.
David Mather, Assistant Professor, International Development. Ph.D. Michigan State, 2003; agricultural development and marketing, poverty reduction strategies, impact assessment.
Robert J. Myers, University Distinguished Professor; Ph.D., Minnesota, 1986; commodity marketing and price analysis, agricultural finance, agricultural and food policy, applied econometrics.
Thomas Reardon, Professor; Ph.D., University of California, Berkeley, 1984; food industry/agribusiness in Asia and Latin America, value/supply chains, farm household economics; http://www.msu.edu/user/reardon/ReardonCV.pdf.
Robert S. Shupp, Assistant Professor; Ph.D., Indiana University, 2000; experimental economics, industrial organization, risk and uncertainty.
Veronique Theriault, Assistant Professor, International Development; Ph.D., University of Florida, 2011; agricultural development, supply chain analysis, trade policy, and institutional economics.
David L. Tschirley, Professor, International Development; Ph.D., Michigan State, 1988; agricultural development, food systems economics, marketing.
Dave D. Weatherspoon, Professor; Ph.D., Florida, 1993; agribusiness, food supply chain management, health economics, international trade, and marketing.