Applied production and productivity analysis

Applied production and productivity analysis, 7,5 ETCS credits

This master level course is given in collaboration with Department of Forest Economics, Swedish University of Agricultural Science, and the Centre for Environmental and Resource Economics (CERE).

Subjects:

Economics

Marking scale:

Pass / Fail

The requirements for attaining different grades are described in the course assessment criteria which are contained in a supplement to the course syllabus. Current information on assessment criteria shall be made available at the start of the course.

Prerequisites: 

The course is specifically aimed at master and PhD students within the field of economics. Knowledge in advanced level microeconomics is assumed.

Learning objectives: 

The course aims to provide understanding of advanced production theory analysis in general and the efficiency and productivity analysis in particular.

Specific learning outcomes

After completion of this module, students should:

• Have a thorough and advanced knowledge of theories related to the production economy, productivity and efficiency measurement.
• Have a deeper understanding of the relationship between economic theory and choice of methods to measure productivity and efficiency.
• Have an understanding of advanced key methods used, such as the DEA and SFA, and their strengths and limitations.
• Be able to conduct sophisticated analysis of empirical production data and with relevant theories and methods generate productivity and efficiency calculations.

Content 

The course begins with a review of production theory. Then we look at productivity and efficiency measurement from a conceptual perspective (set-representation, distance functions, etc.). Furthermore the module covers index theory and its link to productivity and efficiency measurement. Special focus will be on Data Envelopement Analysis (DEA) and Stochastic Frontier Analysis (SFA), the two most common methods of empirical applications in productivity and efficiency measurement. The examination consists of assignments and computer exercises.

Implementation

The course will consist of lectures and computer labs. Should there be very few students, the course will be set up as a reading course with computer assignments.

Requirements for examination:

Attended lectures and hands-on sessions as well as pass a short exam at the end of the course.

Other information

The Department reserves the right to cancel the course if there are not more than 5 students who have applied for the course. There is no tuition fee. The student is responsible for any housing and travel costs.

Responsible department

Department of Forest Economics

Location

Umeå

Preliminary time schedule

 Teaching will be in the form of lectures and computer exercises, time slots 0900-1200.

Thursday 3/12

Monday 7/12

Wednesday 9/12

Friday 11/12

Monday 14/12

Wednesday 16/12

Friday 18/12 Guest lecture Subal Kumbhakar, Binghampton University, NY, USA.

X-mas break

Friday 8/1

Monday 11/1

Friday 15/1 Exam

Literature

Main  book: Coelli, Rao, O’Donnel, Battese  (2005), An Introduction to Efficiency and Productivity Analysis, Springer: USA.

Reference literature will be handed out during the course or specified closer to the course start.