ECONOMICS OF THE WINE BUSINESS

The course aims to provide students with the basic tools to understand the principles of Wine Business Economics, addressing fundamental concepts such as utility, goods and needs, demand and supply, production cost theory, profit maximization, and other economic and managerial aspects specific to the wine sector. Particular attention will be devoted to the dynamics underlying the organization and management of wine businesses, from production to wine marketing, with reference to both national and international markets.
Through lectures and the presentation of case studies, students will acquire the skills needed to analyze the economic, managerial, and strategic issues that characterize wine companies.

At the end of the course, students will be able to:

1. understand the role and importance of the wine sector within the agri-food system and within the national and global economy;

2. apply the acquired knowledge to develop arguments about the different types of wine markets and the various methods of economic evaluation to determine business benefits;

3. collect and interpret data and information aimed at analyzing costs, and revenues, useful for assessing the efficiency and competitiveness of wine businesses;

4. communicate the results of analyses through discussions encouraged by the lecturer, identifying managerial and strategic solutions to achieve the objectives set by the wine company;

5. independently develop the acquired skills to analyze case studies related to the sector and establish connections with other subjects within the degree program.

Frontal lessons and classroom exercises, as well as participation in any fairs and / or meetings.

The course is structured in 63 hours of which 21 hours of lectures and 42 hours of exercises.

If teaching is given in a mixed formula or remotely, necessary changes may be introduced to what was previously stated in order to comply with the provided and reported syllabus.

Learning assessment may also be carried out on line, should the conditions require it.

For any questions or clarifications, Gioacchino Pappalardo can be reached remotely or in presence on the days and in the manner reported on the web page: https://www.di3a.unict.it/docenti/gioacchino.pappalardo

As a guarantee of equal opportunities and in compliance with current laws, interested students can ask for a personal interview in order to plan any compensatory and/or dispensatory measures, based on their specific needs and on teaching objectives of the discipline. 
It is also possible to ask the departmental contacts of CInAP (Centro per l’Inclusione Attiva e Partecipata - Services for Disabilities and/or DSAs), in the persons of professors Giovanna Tropea Garzia and Anna De Angelis.

2. Principles of Microeconomics: Demand and Supply.

3. Markets and Prices.

4. Production Cost Theory.

5. Income statements of the wine-growing farm: Production and Factors of Production.

6. Assets and Liabilities in the Income Statement.

7. The profit equation.

1. Introduzione all'economia agroalimentare. Louis Malassis e Gérard Ghersi. Bologna, Ed. Il mulino, 1995.
2. Teacher slides divided for each of the topics listed in the "Course Planning" section. The slides can be consulted and downloaded from the "Studium-Unict" website.

Verification of learning may also be conducted on line, should conditions require it.

Evaluation of the student's preparation will be based on the following criteria: the student's ability to learn and level of in-depth study of the topics covered, the student's property of synthesis and exposition, and the student's ability to reason.

Grading will follow the following pattern:

Ineligible: 

Subject knowledge and understanding: Significant deficiencies. Significant inaccuracies

Ability to analyze and synthesize: Irrelevant. Frequent generalizations. Inability to synthesize

Use of references: Completely inappropriate

18-20:

Subject knowledge and understanding: At threshold level. Obvious imperfections

Ability to analyze and synthesize: Barely sufficient ability

Use of references: Barely appropriate

21-23:

Subject knowledge and understanding: Routine knowledge.

Ability to analyze and synthesize: Is able to analyze and synthesize correctly. Argues logically and coherently.

Use of references: Uses standard references.

24-26:

Subject knowledge and understanding: Good knowledge.

Analysis and synthesis skills: Has good analysis and synthesis skills. Topics are expressed consistently.

Use of references: Uses standard references.

27-29:

Knowledge and understanding topic: Knowledge more than good.

Analytical and synthesis skills: Has considerable analytical and synthesis skills.

Use of references: Has deepened understanding of topics.

30-30L:

Knowledge and understanding topic: Knowledge very good.

Ability to analyze and synthesize: Has considerable ability to analyze and synthesize.

Use of references: Important insights.

Markets structure

Production Costs.

Profit margins