Trimester 1

The module of Applied Econometrics in Agriculture is designed for helping students to advance econometrics methods and apply them to the analysis of agricultural problems. It is divided into two main parts: Advanced econometrics and Agricultural Price Analysis. The advanced econometrics focuses on enabling students at undergraduate levels to start being familiar with basic concepts of empirical analysis for potential applications in their future. More specifically, teaching in this component is to enable students understand the practical and theoretical foundation of regression analysis; cope with practical consequences related to hypothesis violation of specified models such as Multicollinearity, Heteroscedasticity, and Autocorrelation; to specify and estimate an econometric model based on agricultural economics theory through assignments; and introduce students to the application of the SPSS 17.0 for windows for data processing and  analysis. The Agricultural Price Analysis puts focus on knowledge of markets and the entities and factors that impact market equilibrium outcomes, especially equilibrium prices and quantity. This is of great importance for formulating informed decisions in production and demand markets. It also focuses on facts specific to agricultural markets and prices with regard to the determination of factors influencing supply and demand decisions and impacts on market outcomes, focusing on prices determination, fluctuations and estimations/forecast.