Welcome to our course "The Economics of Agro-food value chains." My name is Hannes Lang and I am a research associate at the Technical University of Munich. I am one of the teachers of this course and will now introduce you to the structure of this course. We have laid out this course to be a six week program, but you can go at your own speed as it is fully self-paced. Our course consists of twelve modules plus this introductory module, so a total of 13 modules. Each module has about two to five lessons that focus on a specific topic. A lesson takes approximately five to ten minutes and each lesson contains a multiple choice question, so you can instantly check your knowledge. We also emphasize the learning objectives of each lesson, so you know exactly what to expect. After the course ends you will be able to take a final exam and receive a grade. I'll now give you an overview of each module. Module 1, which is this module, is the introductory module and you're currently watching the first lesson. In the second lesson of this module we will talk about the current challenges and trends in the agro-food value chain. In the third lesson of this module I will introduce you to the concept of quality in the agro-food value chain. We will finish the module with the fourth lesson, which gives you an overview of the food value chain. In module 2 Carlo Russo from the University of Cassino and Southern Lazio. will talk to you about the relationship between quality and consumer value. After the module you will be able to describe consumer choices in a differentiated market and explain the link between quality and value. You will also learn about strategies for building consumer value. In module 3 Faical Akaichi from Scotland's Rural College will talk to you about market research. After the module you will know the definition, role and types of market research in addition to the research process and the ethics of market research. In the second lesson of the module you will learn about the different types of data and various methods of data collection. The last lesson of the module then deals with data analysis, where you will learn about the most commonly used statistical and econometric techniques to analyze data. Modules 4 to 8 will deal with asymmetric information. In module 4 Luise Menapace from the Technical University of Munich will give you an insight into asymmetric information about quality. In the first lesson of the module she will introduce you to the concepts of asymmetric information, adverse selection, moral hazard, and market failure. That way you will be able to explain the role of information for the functioning of the market. In the second lesson she will also talk about the product attributes and their classification. After the lesson you will be able to classify product attributes based on when consumers are able to assess their true qualities. Professor Menapace will also be your online tutor for module 5, in which she introduces you to "Food Labeling". In this module you'll learn how labels can work as a tool to solve market failures due to asymmetric information and hear about reputation mechanisms based on trust and signaling. In module 6, Chenguang Li from the University College Dublin in Ireland will talk about the effect of price as a signal for quality. The module also includes the implication of consumer psychology and quality perception on pricing tactics. Chenguang will also teach module 7, "Brand personality and Brand value". In this module you'll learn about the dimension and use of brand personalities. You will also hear about consumer-based brand equity. Module 8 is taught by Luisa Menapace, who will talk about "Geographical Indicators". After the module you will be able to explain the notion of "Geographical Indication" and the key facts about the protection of GIs in the EU. You will also be able to explain the importance of the GI sector within the EU market. Module 9 and 10 will be taught by Francesco Bimbo from Wageningen University. Both modules deal with innovation. In module 9, you'll learn about innovation and quality. You will be able to define what is innovation and state the differences between the many types of innovation. You'll also be able to explain how innovations are generated and how the drivers and barriers of innovation in the agro-food sector arise. In module 10, Francesco will talk about "Corporate social responsibility in the agro-food sector and its relevance for the food companies." The last three modules, modules 11, 12 and 13, will be about coordination. Carlo Russo will talk about incentive problems in module 11. After the module you will be able to describe the coordination continuum, explain when coordination is profitable and identify possible incentive conflicts. In module 12, Carlo will talk about the modern retail sector and its procurement contracts, the issues around shelf allocation and supplier selection. Finally, module 13 will be taught by Monserrat Costa-Font from Scotland's Rural College. In this module you will learn about vertical coordination and its relation to transaction costs and quality. Monserrat will also talk about standards, meta standards and meta systems. She will end the module with examples of food quality standards. As mentioned already, each module is divided into lessons, and for each lesson you will be asked a recapitulation question, so you can instantly check your knowledge. After you have finished all the modules, you will be able to take a final exam and receive a grade. During the whole course you will have opportunity to participate in discussions via the discussion platform. There, you will be able to discuss with fellow students and see previous discussions. This is the end of our introductory lesson. I hope you enjoy our course. To start the next lesson click on "Lesson 1.2 Challenges and Trends".
