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Reminder: NOVA PhD Course "Advanced Production Economics " - Open for Applications

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    Shutterstock, SFIO CRACHO

The course will take place on 28 May - 1 Jun. 2018 in Uppsala, Sweden.
Application deadline: 14 May 2018 (NB! new deadline).

The course is of 3 ECTS and is organised by Yves Surry, Resarcher, Swedish University of Agricultural Sciences (SLU).

NOVA course information web page

Apply here

Course Description
The objective of this course is to expose PhD level students to the foundations of modern production economics theory.  Students will acquire skills and necessary knowledge to address and deal with production-related problems through the use of theoretical and/or analytical tools from the microeconomic theory of the firm.  We will also illustrate how to apply these production theory related tools to empirical and practical cases related to firm’s production decision making processes.

The course focuses on the modern microeconomic theory of the firm based on the notion of the primal and dual representation of production technology.  For the primal, we start with single output technologies and the production function and then we consider functional representation for multi-input and multi-output technologies such as transformation and input and output distance functions.  For the dual, we consider the cost, revenue and profit functions.  Then we proceed with indirect representations of technology, both primal and dual, which are particularly useful when production units face budget or sales constraints.  Last but not least we consider the directional distance functions.  In all these cases, we pay special attention to the theoretical properties of the underlying functions and we show how we can use them to analyze the structure of production by means of returns to scale, various forms of the elasticity of substitution, shadow prices and of course, comparative statics results.  The last part of the course is devoted to the application of these theoretical tools to empirical analysis.  In particular, we consider estimating a production function or a system of cost, revenue or profit functions equations by means econometric methods.

Programme Outline

  1. Primal Representation of Production Technology
    1. Production Function
    2. Transformation Function
    3. Input Requirement Function
    4. Input and Output Distance Functions
  2. Dual Representation of Production Technology
    1. Cost Function
    2. Revenue Function
    3. Profit Function
  3. Indirect Primal and Dual Representation of Production Technology
    1. Indirect Production Function
    2. Indirect Input and Output Distance Functions
    3. Revenue and Cost Constrained Functions
  4. Directional Distance Functions
    1. Directional Input and Output Distance Functions
    2. Directional Technology Distance Function
  5. Applied Production Analysis
    1. Estimation of Cost and Profit Function System of Equations
    2. Estimation of Production Functions

Main Teachers

  • Professor Giannis Karagiannis, University of Macedonia, Thessaloniki. Greece
  • Dr. Timo Sipiläinen, Senior lecturer, Department of Economic sand Management, Faculty of Agriculture and Forestry, University of Helsinki
  • Dr. Eirik Romstad, Associate Professor, School of Economics and Business, Norwegian University of Life Sciences

Please find more information on the course and on how to apply here:

Published 3. May 2018 - 9:25 - Updated 3. May 2018 - 9:26