Academic Year 2018/2019 - 1° Year
Teaching Staff Credit Value: 12
Scientific field: AGR/01 - Agricultural economics and rural appraisal
Taught classes: 56 hours
Exercise: 56 hours
Term / Semester:

Learning Objectives

  • Common Agricultural and Fisheries policies

    The course introduces the common agricultural and fisheries policies highlighting their roots in the European integration project. The evolution of these policies is presented from an analytical perspective that allows the assessment of their objectives, instruments and operating procedures with reference to both the market regulation of agricultural and fishery products and to the support for rural and coastal development. Furthmore, it aims to provide students with institutional and regulatory knowledge on common agricultural and fisheries policies to enable them to understand the programming process and the governance of those EU policies.

  • Real Estate Valuation

    Provide methodological and operational analysis tools suitable for estimating, for defined justice or economic efficiency purposes, the value of private and public goods in rural areas according to International Valuation Standards (IVS).

Course Structure

  • Common Agricultural and Fisheries policies

    The methods of teaching are different and include lectures, analysis of the elemnets of proposal of investment, seminars, study visit, reports by the students. Those methods contribute to the acquisition of knowledge and ability to carry out analyzes and communicate what has been learned.

  • Real Estate Valuation

    The lessons are carried out through frontal teaching, classroom exercises and, if possible, technical visits to institutions, companies or external structures.

Detailed Course Content

  • Common Agricultural and Fisheries policies

    1. The European integration process

    The institutional framework of the EU. The enlargement process and creation of the eurozone. The decision-making process. Legal acts european law.

    2. Development of the CAP

    The CAP in its first phase. The markets and prices policy and the structural agricultural policy. The revision process of the common agricultural Policy in the 80s and the new objectives. The CAP reforms in the '90s: from Mac Sharry to Agenda 2000. The Fischler Reform.

    3. The CAP 2014-2020

    The structure and objectives of the revised CAP. The direct payments regime. Voluntary and mandatory payments. Convergence of direct payments. The active farmer. The single common market organisation. Modulation. National implementation.

    4.The second pillar of the CAP

    Objectives, fields of intervention and instruments of rural development policy. Institutional structure. Subsidiarity and governance. Risk management.

    5. The Common Fishery Policy

    The origins and evolution of CFP. The European Maritime and Fisheries Fund. Fisheries resources. The aquaculture sector. Small-scale fisheries. The Integrated Maritime Policy.

    6. The Common Market Organisation for fishery and aquaculture products

    Producer organisations. Market standards. Consumer information. Control of fishing activities.

  • Real Estate Valuation

    1. The basis of the value and the estimate method

    Importance and purpose of the discipline. The estimation methodology. Estimate and economic postulates. Market values ​​and other values. Estimation criteria. General function of valuation. Highest and Best Use.

    2. The real estate market

    Characters and shapes of the real estate market. The sources of documentation and the data collection.

    3. Principles of financial mathematics

    Evaluation of financial performance. Loans and discount rate. Annuities and their evaluation. Constitution of capital. Repayment of loans. Financial tables. Net Present Value. Internal Rate of Return.

    4. Market oriented methods

    Market Comparison Approach. Paired Data Analysis. Estimation system. Differential estimate. Sharing system.

    5. Income capitalization methods

    Direct capitalization method. Yield capitalization method. Discounted cash flow analysis. The budget estimate. The search of capitalization rate. Remote search of the rate. Band of Investment. Direct profitability wise. Capitalization rate of an area and of a building.

    6. Cost method: Cost method. Market value of a building. The reconstruction costs. The depreciation of a building and of its facilities.

    7. Other valuation methods: monoparametric methods and its limits. Regression models. Nearest Appraisal Technique. Interval estimation.

    8. Cadastral Aspects: The New Land Cadastre (N.C.T.). Land records. Research and land registry. Tax aspects of the cadastre. Social aspects of cadastre and notes on the reform proposal.

    9. Valuation of public goods: Public goods and evaluation of use and no-use benefits of environmental resources. The consumer surplus. The total value paradigm. The accounting methods. The travel cost method. The hedonic price method. The contingent valuation method. Other methods. Analysis of some environmental resources estimates applications.

    10. Analysis of some case studies of agricultural interest: The estimate of the land capital: major cases. The estimate of hanging fruits and cultivations. The estimate of land investments. The estimate of real rights. The estimate in the expropriation for public utility. The estimate of ornamental plants.

    11. Professional activities and the Real Estate Appraisal: Professional ethics. The valuer in a lawsuite. The appraisal report. The review of an appraisal report.

Textbook Information

  • Common Agricultural and Fisheries policies

    1.Commissione europea, Le politiche dell’Unione europea Funzionamento dell’UE, Lussemburgo 2014.

    2. Frascarelli A., La politica dei mercati agricoli dell’UE per il periodo 2014-2020: un’analisi degli strumenti, Agriregionieuropa, anno 12 n°46, 2016

    3. INEA, Guida alla Riforma della PAC 2014-2020, Roma 2014

    4. Pupo D’Andre M.R., Le scelte italiane di applicazione del primo pilastro della PAC 2014-2020, Agriregionieuropa anno 10 n°38, 2014

    5. Albani C., De Filippis F., Frascarelli A., Leporati S. (a cura di), LA PAC 2014-2020, L’evoluzione normativa, Coldiretti, 2015.

    6. Albani C., Bosco D., Ansovini G., De Filippis F., Frascarelli A., Leporati S. (a cura di), LA PAC 2014-2020, Coldiretti, 2015.

    7. Mantino F., La riforma delle politiche di sviluppo rurale 2014-2020, Agriregionieuropa anno 9 n°35, Dic 2013.

    8 Commissione europea, Panoramica della Politica di sviluppo rurale 2014.

    9. Commissione europea, Salvaguardare il futuro dei nostri mari e generare nuova prosperità, Le politiche dell’Unione europea, Lussemburgo.

    10. Parlamento europeo, Schede sulla politica comune della pesca. Note sintetiche sull'Unione europea – 2016

    11. MIPAAF, Piano di azione per lo sviluppo, la competitività e la sostenibilità della pesca artigianale, Allegato 7 del programma operativo FEAMP, 2015


  • Real Estate Valuation

    1. Simonotti M., Valutazione immobiliare standard - 3a ed., Stimatrix, Mantova, 2013.

    2. Michieli M., Cipolotti G.B., Trattato di Estimo, Edagricole, Bologna, 2018.

    3. Polelli M., Nuovo Trattato di Estimo, Maggioli Editore, 2a ed., Milano, 2008.

    4. Betts, R.M. Estate Appraisal. Principles & Procedures, 8th ed. Cengage Learning, , Mason OH 45040, USA, 2012, ISBN: 978-1-133-49594-9.