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Masters

Applied Economics of Consumption

University of Copenhagen
Copenhagen , Denmark
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Program Details
Degree
Masters
Major
Agricultural Business | Agricultural Economics | Marketing
Area of study
Business and Administration | Agriculture, Forestry, and Fisheries
Course Language
English
About Program

Program Overview

Program Overview

The University of Copenhagen offers a Master's program in Applied Economics of Consumption, which is part of the MSc Programme in Agricultural Economics and the MSc Programme in Environmental and Natural Resource Economics.


Program Description

The program focuses on empirical economic analysis, covering topics such as data generation, interpreting results, and using outcomes to answer real-life problems. It trains students in techniques for independent empirical economic analysis and interpreting results to address real-world issues. The program is based on microeconomic theory, explaining consumption behavior and market potentials, and covers various aspects of applied economics.


Topics Covered

  • Suitability of different data types (e.g., surveys, focus groups, register data) for research questions
  • Advantages and disadvantages of choosing different model types and functional forms
  • Derivation of economic welfare measures, willingness-to-pay (WTP) measures, market prospects, and consumer surplus
  • Regulation of consumer behavior via taxation and information provision
  • Empirical work from idea to finished product, based on state-of-the-art literature

Learning Outcomes

Upon completing the program, students should be able to:


  • Know the strengths and weaknesses of different data types for empirical analysis
  • Derive different functional forms used in empirical consumer economics and understand the advantages and disadvantages of different model types
  • Generate and interpret post-estimation measures such as WTP, consumer surplus, and producer surplus
  • Implement economic consumption theory in empirical models, analyze these models, and interpret their empirical properties
  • Conduct empirical economic analysis of consumer behavior
  • Make structured presentations of their empirical work
  • Engage in group discussions in English
  • Critically and constructively reflect on the empirical work of other scholars

Literature

The program uses selected scientific journal articles and textbook sections.


Recommended Academic Qualifications

Students should have a reasonable understanding of mathematics, econometrics, and statistical analysis, as well as an understanding of microeconomics and/or public economics corresponding to a bachelor's degree in economics (or a similar topic).


Teaching and Learning Methods

The program combines lectures on relevant microeconomic theories and methodologies, applied empirical work on specific topics, and discussions based on findings and experiences from empirical work. Students work on two food-related cases, aiming to develop, interpret, and use empirical model types relevant for business or policy analysis.


Workload

  • Lectures: 36 hours
  • Preparation: 54 hours
  • Practical exercises: 20 hours
  • Project work: 60 hours
  • Exam preparation: 35 hours
  • Exam: 1 hour
  • Total: 206 hours

Exam

  • Type: Oral examination, 20-30 minutes
  • Type of assessment details: Oral examination based on group project and general curriculum, with no time for preparation
  • Examination prerequisites: Approval of one group-based project report (max. 4 students per group)
  • Aid: All aids allowed except Generative AI and internet access
  • Marking scale: 7-point grading scale
  • Censorship form: No external censorship, with two internal examiners
  • Re-exam: Oral re-examination, 20-30 minutes, with no time for preparation

Course Information

  • Language: English
  • Course code: NIFK15003U
  • Credit: 7.5 ECTS
  • Level: Full Degree Master
  • Duration: 1 block
  • Placement: Block 4
  • Schedule: C
  • Course capacity: No limitation, unless registering in the late-registration period or as a credit or single subject student

Study Board

The program is under the Study Board of Natural Resources, Environment and Animal Science.


Contracting Department

The contracting department is the Department of Food and Resource Economics.


Contracting Faculty

The contracting faculty is the Faculty of Science.


Course Coordinators

The course coordinators are Jørgen Dejgård Jensen and Sinne Smed.


Lecturers

The lecturers are Jørgen Dejgård Jensen, Sinne Smed, and Lars Gårn Hansen.


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