ECO6201E Business Economics Group Assignment October 2026: Global Food Markets and the Agricultural Economy, Singapore

The ECO6201E group assignment, titled “Economic Performance Through the Lens of Market Forces: Global Food Markets and the Agricultural Economy”, asks MBA teams to compare one East Asia and Pacific country with one South Asian country using at least 20 years of data. Five questions cover market failure, productivity and technology, global price shocks, market power and government policy in agricultural and food markets.

Background and Case Study

Agricultural and food markets are essential to economic growth, employment, poverty reduction and household welfare. However, these markets face growing challenges arising from climate change, volatile energy and fertilizer prices, supply-chain disruptions, unequal bargaining power and changing consumer demand.

According to the World Bank’s 2026 food-market analysis (“When risks stack up: threats to global food markets in 2026”), global agricultural markets face risks from geopolitical tensions, higher input costs, climate-related shocks and potential trade restrictions. Such disruptions can affect agricultural production costs, food availability, domestic inflation and international trade. Governments must therefore balance market efficiency, consumer affordability, farmer incomes and environmental sustainability.

Agriculture also illustrates important economic concepts, including market failure, negative externalities, economies of scale, price elasticity, imperfect competition, productivity growth and government intervention.

Requirements

Each group must select:

• ONE country from East Asia and the Pacific (EAP); and
• ONE country from South Asia.

Students must conduct a comparative analysis using at least 20 years of historical data for both countries. Where data are available, students should aim to cover 2005–2025 and clearly identify any missing observations.

The assignment must include relevant economic theories, empirical evidence, graphs, tables, diagrams and credible academic or institutional references. Students must critically evaluate the differences between the two countries rather than simply describe their agricultural sectors.

Question 1

Using appropriate economic theories, country-specific examples and diagrams, critically explain how market failures and externalities can lead to inefficient resource allocation in agricultural and food markets. (20 marks)

Question 2

Critically evaluate how agricultural productivity, technological change, skills gaps and the adoption of digital technologies may affect firms’ production decisions, production costs, competitiveness and long-run economic growth. (20 marks)

Question 3

Critically analyse how changes in global food prices, climate shocks, energy prices and dependence on imported agricultural inputs may affect domestic demand, production costs, inflation, international trade and economic growth. Use diagrams where appropriate to illustrate your arguments. (20 marks)

Question 4

Critically evaluate the role of market structure and market power in influencing competition, prices, productive efficiency and consumer welfare in a selected food or agricultural industry in each country. (20 marks)

Question 5

Critically evaluate how government and macroeconomic policies address structural challenges and market failures in agricultural and food markets. Assess their effectiveness in improving productivity, competitiveness, food security, employment and sustainable economic growth in both selected countries. (20 marks)

Format and Submission Guidelines

• Groups of 4 or 5 members, formed via Canvas; one member submits on behalf of the group.
• Word count: 4,000 to 5,000 words; Microsoft Word, Times New Roman 12, justified, 1.5 spacing.
• Creative reporting (comparison tables, graphical evidence, statistical analysis) carries weight.
• Harvard referencing; similarity should ideally be below 20%, with the Turnitin summary page and AI declaration attached on the last page.
• Report structure: cover page and grading criteria, contents and list of figures, numbered main sections with introduction and conclusion, and a reference list.
• Late submission: 50 marks deducted within one week after the deadline; zero marks after one week.