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 a 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 therein 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. This is a two-year (120 ECTS) MSc programme with a thesis, organised for students with a BSc in Agriculture, Agricultural Economics, Food or Household Economics, Economics, Agribusiness or Business Management or related programmes. The study programme is instructed in English and organised in modules, which usually consist of units within a semester that have a thematic, methodical or systematic link. The programme requires strong basic undergraduate training in economics (please refer to our entry requirements). Holders of the AFECO degree demonstrate the capability to work in an internationally-oriented and nationally-oriented environment, and they find employment opportunities in companies of the service industry like insurance and consulting firms or other business companies, associations, non-profit organisations, public authorities related to the agricultural and food sector, environmental protection or development cooperation. Such positions require specific competences that the students will develop depending on their affinities and capacities. Students are supported in their activities of individual profiling by a system of specifications, reflecting the whole range of related topics. The first and second semesters are partly dedicated to the following compulsory modules: Methods of Empirical Research, Microeconomics, Organisational Management, and Risk Management in Agribusiness. From the first semester on, the student has the possibility to choose electives to focus on the major or minor specifications introduced below. Possible major specifications (30 ECTS): Agribusiness Agricultural and Development Policy Market and Consumer Res