Summer school

Risk Analysis and Risk Management in Agriculture: Updates on Modelling and Applications - 3 ECTS

The farm sector is affected by a large and changing set of risk sources including more volatile producer prices, unusual weather patterns, upstream and downstream market power along the value chain, increasing dependence on financial institutions, and political risks. This induces the need for (new) risk management tools. Also the Common Agricultural Policy 2020 is considering risk management as an important component of agricultural policy.

Organised by Wageningen School of Social Sciences (WASS)

Mon 27 August 2018 until Fri 31 August 2018 09:00

Duration Registration deadline: 13 August 2018
Venue Leeuwenborch, building number 201
Hollandseweg 1
6706 KN Wageningen


Participants will learn theories concerning risk analysis and risk coping strategies and will develop proficiency with software to facilitate the initiation of their own research in topics related to risk in agriculture. The course deals with both conceptual and methodological issues.  

Target group and learning outcomes

The course is oriented toward PhD candidates, postdoctoral researchers and others with background in agricultural and applied economics.

After successful completion of this course students are expected to be able to:

  • Understand theories underlying risk and risk management decision making.
  • Model risk including copulas.
  • Critically assess econometric analyses with regard to adoption of risk management tools.
  • Model whole-farm risk management decisions.
  • Reflect on current (EU) policy developments with regard to risk management

Assumed prior knowledge:

Microeconomic theory at the graduate level such as covered by H.R. Varian in “Microeconomic Analysis” is assumed to be familiar. Econometric theory and applications at the graduate level are required and some exposure to panel data econometrics is desirable.

Session Times

The course consists of theory and method sessions, divided in morning sessions for the presentation of theoretical aspects, afternoon practical sessions to provide exposure to analytical exercises, simulations, and econometric estimations, and one evening session on participants’ experiences regarding risk management issues. In particular, the practical will include applications of the theory, computer analyses with actual data sets, and interpretations in practice. At the end of each practical, answers and reflections will be handed in (four times). Participants receive feedback on the next course day.                                             


Day 1: 27 August 9.00-16.30 19.00- Social dinner
Day 2: 28 August 9.00-16.30 16.30- Informal drinks
Day 3: 29 August 9.00-16.30
Day 4: 30 August 9.00-16.30 19.00- Evening session
Day 5: 31 August 9.00-16.30

A more detailed programme can be found in the course outline

Outline of the course in hours

The course will involve daily sessions, with a 3-hour theory session in the morning, a 3-hour practical session in the afternoon, and one evening session.

Course materials

Reading materials prepared by the authors will be sent to participants in advance of the course.  Articles and other accompanying materials will be distributed during the course.

Requirements and ECTS

Participants will hand in four practical reports at the end of each practical session, which in turn makes them eligible to obtain the amount of 3 credits (according to ECTS).


The sessions will be held in building “De Leeuwenborch”, Hollandseweg 1 in Wageningen, The Netherlands. The exact rooms will be announced later.

Course fees

WASS, PE&RC and WIMEK/SENSE PhDs with TSP € 250
a) All other PhD candidates b) Postdocs and staff of the above mentioned Graduate Schools € 500
All others € 750

NB: for some courses, PhD candidates from other WUR graduate schools with a TSP are also entitled to a reduced fee. Please consult your Education/PhD Programme Coordinator for more information

Cancellation conditions:

Participants can cancel their registration free of charge 1 month before the course starts. A cancellation fee of 100% applies if a participant cancels his/her registration less than 1 month prior to the start of the course.

The organisers have the right to cancel the course no later than one month before the planned course start date in the case that the number of registrations does not reach the minimum.

The participants will be notified of any changes at their e-mail addresses.