Specializations - Agribusiness

Economic concepts related to marketing agricultural commodities. Conditions of competitive markets, historical perspectives on market institutions/policy, structural characteristics of markets, policies/regulations affecting agricultural marketing of livestock, crop, and dairy products.

Economics of food marketing in the United States. Food consumption trends. Consumer food behavior, expenditure, data collection. Consumer utility models, demand forecasting. Food distribution system. Changes in supply chain, industry structure that serves retail food outlets. Individual/group projects.

Survey course of the industrial organization and current policy issues in the food and agribusiness marketplace and a comprehensive look at all of the sectors in the food and agribusiness value chain is described. Topics include food policies (Farm Bills, food stamps, food labeling, and similar topics); environmental policies (water, invasive species, agriculture production and similar topics); and industrial organization issues (marketing and production contracts, overview of firm strategic orientation, distribution and similar topics).

Survey course to introduce students to the Minnesota food industry through its regulatory process, research and development, and industry structure. It is an integrated week long course that includes field study tours of Minnesota agriculture and food economy coupled with classroom instruction. Each year the course will focus on two Minnesota industries such as dairy, beef, soybean, corn, potatoes, and other agricultural and food industries.

Economics of food marketing in the United States. Food consumption trends. Consumer food behavior, expenditure, data collection. Consumer utility models, demand forecasting. Food distribution system. Changes in the supply chain, industry structure that serves retail food outlets.

The challenges facing the food industry in today's global economy are significant - from commodity volatility, to expanding demand across global marketplaces, to dynamic merger and acquisition activity, to ensuring food safety, to navigating disruptive scientific and social forces, to promoting better health, and finding ways to feed the world. Managing successfully in agribusiness today is truly a "Food Fight", where the answers to these challenges will shape the global economy we live in and define the world for generations to come. 

Minnesota occupies a unique leadership position in the food industry. Often described as the "silicon valley of food", the region is home to leading companies from farm to fork - Buffalo Wild Wings, Cargill, CHS, General Mills, Hormel, Land O'Lakes, Mosaic, Schwan's, Supervalu, and Target- as well as being home to defining agribusiness research in the University of Minnesota system. 

Led by Jeff Ettinger (Carlson Executive Fellow, and former CEO of Hormel) and Mark Bergen (the James D. Watkins Chair in Marketing) the class presents a Minnesota perspective on these contemporary challenges. They combine what is known in industry and academics to provide practical, contemporary frameworks being used to address these challenges.

Managing with an appreciation for corporate responsibility. Corporate responsibility/how executives think about it. Factors that make assessing corporate responsibility complex. Need for business leaders to understand/make choices with respect to corporate responsibility issues.

Chile/Argentina: This course will explore the use of the Marketing Management Process by firms and governments as they seek to grow. For example, much of Chile’s recent success is predicated on a broad product and market diversification strategy seeking to expand beyond copper into wine, fish, forestry and food. While across the Andes in Argentina, a more challenging political and business environment has led some firms to embrace vertical integration in an effort to ensure the reliability of channel partners. The countries are different, the economies are challenging, let’s learn about marketing in the mayhem.

Central & Eastern Europe: This course provides students with a first-hand look at the business environment of Central and Eastern Europe (CEE) and is designed as a partnership between the Warsaw School of Economics (SGH), the Carlson School, and a corporate partner.  The 2020 practicum is a marketing project sponsored by Cereal Partners Worldwide (CPW), a partnership between General Mills and Nestlé. CPW is developing a new offering for its global customers, with an initial focus on the European market. Project participants will be tasked with providing recommendations for the implementation of this new model after completing a range of activities, including market analysis, consumer insights, assessing current and future competitors, and evaluating distribution and communication channels. A final presentation will be delivered in Warsaw to CPW executives.