In the second week, we will explore the workings of the Flue-Cured Cooperative Stabilization Corporation. We will also find useful the economic data made available by NC State agricultural extension economists . You'll find a number of articles from that newspaper of interest. I highlight here articles on four topics. The recent flooding from Hurricane Floyd affected agricultural workers throughout the Eastern counties, and tobacco growers were among those.
Some growers remain skeptical , however.
In this week we will examine the role of Stabilization as a buffer stock in tobacco and will also examine the dynamics of this truly international auction process. The problem set required for this case study examines the choice Randy Smith makes in growing tobacco in terms of its opportunity cost. It will be due on 18 September. You are encouraged to work together to solve the problem set, but each individual must hand in a separate answer sheet on the due date. Late submission will be penalized.