1. Course Overview Supply and demand curves Producer and consumer surplus
What causes a shift
Link between firm and market
Producer and consumer surplus
Cost curves
Optimal output
Profit
Shut down
Elasticities and Flexibilities
Definition, formula, when to use, how to use

2. Hedging and speculation Position diagram
Futures and options
Definition and math
Basis
Hedging and speculation
Calculate price or return
Position diagram
Net price
Profit

3. Grain marketing Livestock marketing Price forecasting Uses of grain
Balance sheet
Livestock marketing
Size of sectors
Live, in the meat, value based
Price forecasting
Sources and tools

4. Traceability – certification Contracts
Credence attributes
Traceability – certification
Contracts
Production v marketing
Motivation and control
Integration v concentration
Market structure
Types
How to define

5. Coops Trade Marketing margins Requirements Purpose
Trends in US ag trade
Comparative advantage
Marketing margins
How to measure
Trend, share and components

6. Marketing Channel Role of Government Different functions and types
Relative size
Trends
Role of Government
Consumer protection
Market efficiency
Farm policy