APPRAISAL AND EU AGRICULTURAL POLICY
Academic Year 2020/2021 - 1° Year- Common Agricultural and Fisheries policies: Giuseppa Carrà
- Real Estate Valuation: Giuseppe Cucuzza
Scientific field: AGR/01 - Agricultural economics and rural appraisal
Course Language: Italian
Taught classes: 56 hours
Exercise: 56 hours
Term / Semester: 2°
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).
At the end of the course the student will be able to use the methodological tools and operational analysis suitable for estimating private assets present in the rural environment, according to International Valuation Standards (IVS) and non-market assets.
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 (28 hours) and classroom exercises (28 hours) and any seminars, technical visits to institutions, companies or external structures.
If teaching will be 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.
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. PAC post 2020
6. 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.
7. 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. Regression models. Nearest Appraisal Technique. Interval estimation.
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. Cadastral Aspects: The Italian Land Cadastre and the Italian Buildings Cadastre. Research and land registry. Tax, economic and social aspects of the italian cadastre. Notes on the reform proposal.
8. 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.
9. 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. The estimates related to hereditaries successions.
10. 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, Come funziona l’Unione europea, Le politiche dell' Unione Europea, Lussemburgo 2014.
2. Commissione europea, Agricoltura, Le politiche dell’Unione europea, Lussemburgo, 2017
3. INEA, La PAC 2014-20, Una guida pratica per una visione di insieme, INEA - Osservatorio PAC, 2014
4. Commissione Europea, I pagamenti diretti agli agricoltori 2015-2020, Lussemburgo 2017
5. Frascarelli A., La condizionalità nel 2015
6. Frascarelli A., La politica dei mercati agricoli dell’UE per il periodo 2014-2020: un’analisi degli strumenti, Agriregionieuropa, anno 12 n°46, 2016
7. La politica di gestione del rischio in agricoltura, Agriregionieuropa, n.47, 2016
8. Albani C., De Filippis F., Frascarelli A., Leporati S. (a cura di), LA PAC 2014-2020, L’evoluzione normativa, Coldiretti, 2015.
9. Mantino F., La riforma delle politiche di sviluppo rurale 2014-2020, Agriregionieuropa anno 9 n°35, Dic 2013.
10. Commissione europea, Salvaguardare il futuro dei nostri mari e generare nuova prosperità, Le politiche dell’Unione europea, Lussemburgo.
11. Parlamento europeo, Schede sulla politica comune della pesca. Note sintetiche sull'Unione europea – 2016
12. MIPAAF, Piano di azione per lo sviluppo, la competitività e la sostenibilità della pesca artigianale, Allegato 7 del programma operativo FEAMP, 2015
see also http://studium.unict.it
- 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.