This course has been designed to familiarize the students of agriculture with the ways in which prices are determined in different markets depending on the numbers of buyers and sellers and the diversity of products. Concepts like "buyers markets" and "sellers markets" are presented. The determinants of market power are discussed. Pricing strategies are reviewed in the light of the market power or bargaining power of the parties engaged in the exchange. The role of collusion in the determination of prices in markets with few participants is discussed with real life examples. Bargaining techniques are analysed. "Floor Prices" set by governments for some agricultural products and government subsidies for farmers are explained with reference to real life examples. Throughout the course students are give special tasks and research problems involving real agricultural markets.
- Teacher: Ahmet Aker