65799 - Management And Admninistration Of Vine And Wine Firms

Learning outcomes

At the end of the course the student: - has the basic concepts of socio-economic variables that characterize and condition the evolution of the wine sector. - is able to analyze the factors that influence the demand, supply and market conditions of wine products, as well as the interrelationships existing between operators along the wine supply chain. - acquires the essential tools to understand the structure and functioning of companies, to analyze the economic and financial consequences of business decisions, as well as the fundamentals of the strategic and organizational analysis of the wine company. - will be able to analyze and evaluate, through appropriate tools, the processes and results of investment projects in the wine sector. - will be able to communicate adequately the knowledge acquired with sufficient command of specific terminology.

Course contents

The teaching is divided into two modules:
Module 1: Economics of the Wine Sector (4 ECTS, 40 hours)
Module 2: Management and administration of wineries (4 ECTS, 40 hours)
Module 1:
1. Principles of economics applied to the agri-food and wine sector
1. Basic concepts of the economy
2. The analysis of demand, supply and markets
3. The specificities of agri-food production and markets and their consequences.
2. The wine sector in Italy and its weight in the agri-food sector
1. Agricultural structures
2. The transformation
3. The sector of wines with designation of origin
4. The market and consumption
5. Foreign trade
3. Objectives and instruments of agricultural and agri-food policies
1.The wine supply chain in the Common Agricultural Policy (CAP)
1.1 CAP tools and objectives
1.1.1. The CAP-markets
1.1.2. The CAP-Rural Development
2.1.The wine sector in the European Union
2.2.The common organization of the market for wine products
2.3 Quality protection in the wine sector
2.4. Rural development policies, multifunctionality and the wine sector
Module 2:
1. The business system and the economic management of the business
1. Definitions, classification and legal forms of the enterprise. Production factors and their evaluation
2. Aspects of business management: financial, economic, asset management. Financial and economic balance of the firm.
3. The evaluation of the company's economy: the financial statements; reclassification and analysis of the balance sheet and income statement. The active and passive components of the balance sheet. The income and expense components of the income statement.
4. Global values for measuring business efficiency: the formation of balance ratios relating to components of assets and components of income.
5. The cost of production of grapes and wine: variable costs, fixed costs and break even points.
6. Economic analysis of investments: business plan, cash flows, Net present value, Internal rate of return.
2. Exercises
Practical applications concerning the economic and financial management of food businesses.
Exercises: analysis of the financial statements of a winery. Exercises of a business plan for the realization of a wine development plan

Readings/Bibliography

Handnote (downloaded by site )

Torquati B. Economia e gestione dell'impresa agraria. Edagricole, 2003

Gregori M., Galletto L., Malorgio G., Pomarici E., Rossetto L.. Il marketing del vino. EDISES, Napoli. 2017

Teaching methods

During the course some case studies on the economic management of the winery and the policy of the wine sector will be examined and discussed with economic-financial analysis of the firm

Assessment methods

The knowledge of the topics presented in class and the verification of the acquired skills requires - on both teaching modules that cannot be distinguished during the verification - written tests.
Each of the two partial tests is evaluated by a score out of thirty; the final mark is determined by the exam commission and usually coincides with the weight average of the two partial marks. The exam is passed if both modules are successful. The final mark will be determined by the average of the two marks obtained.
Module 1:
• Written test on 4 open questions (evaluation elements will be: the level of knowledge of the topics covered by the exam questions; the exhibition capacity and the appropriate use of the terminology of the discipline; the constant attendance of the lessons, active participation and the possible development of activities agreed with the teacher).
Module 2:
The verification of the learning takes place through the only final exam that ensures the acquisition of the knowledge and skills expected by carrying out a written test lasting 1 hour without the help of notes or books. The written test consists of a couple of exercises related to the analysis of the financial statements in order to assess the ability to solve practical problems, and 15 multiple choice questions in order to ascertain the knowledge of the theoretical aspects of the topics covered during lessons.
To take the exam, registration via the electronic bulletin board required by the Alma Esami online system is required, in compliance with the deadlines. Those who fail to register by the scheduled date are required to communicate promptly to the teacher (and in any case before the closing of the registration lists).
Off-course students can contact the teacher to arrange an eventual exam outside the exam.

Teaching tools

PC, Internet

Office hours

See the website of Giulio Malorgio

See the website of Massimo Canali