L01Sep11_306

L01Sep11_306 - Lecture 1: Intro to Food Markets FRE 306...

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Lecture 1: Intro to Food Markets FRE 306
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Lec 1: Intro to Food Markets 2 Course Outline and Handout Learning objectives (on Syllabus online) Administrative Details: Grade determination, key dates Midterm 30% (Oct 24th) Problem Sets 15% (2) Final Exam 50% (December) Class Participation 5% Use of clickers Encourage you to ask questions, in class, before or after class, during office hours, online
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Lec 1: Intro to Food Markets 3 Why worry about food markets? Significant increases in food prices in past 5 years Some food prices have doubled; increased volatility in food prices, and volatility has always been an issue February 2011 food prices reached peak of 2008; June 2011 prices 40% higher than June 2010 Widespread, across countries, commodities some local markets showed higher increases High food prices lead to child malnutrition, especially among poorest families Substitution away from nutritious foods to cheaper sources of calories, away from protein and “better” calories
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Lec 1: Intro to Food Markets 4 Introduction to food markets Food markets widespread, ~every village on globe Great variation across countries, cultures, regions within countries in nature of these markets They involve large and small sellers, buyers
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L01Sep11_306 - Lecture 1: Intro to Food Markets FRE 306...

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