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AGEC 352 Final Project

AGEC 352 Final Project. March 19, 2012 R. Keeney. Overview. Term paper describing model and analysis of food diets Requirements Part 1: Minimum cost subsistence diet All constraints describe minimum requirements of nutrients Written analysis and discussion Part 2: Student posed question

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AGEC 352 Final Project

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  1. AGEC 352Final Project March 19, 2012 R. Keeney

  2. Overview • Term paper describing model and analysis of food diets • Requirements • Part 1: Minimum cost subsistence diet • All constraints describe minimum requirements of nutrients • Written analysis and discussion • Part 2: Student posed question • Problem description • How constraints, objective address question • Written analysis and discussion

  3. Guidelines for project paper • No more than 6 double spaced pages of text • Most A papers are 3-4 pages • Tables/Graphs at the end don’t count • Must use at least 20 foods in your models • Graded as your final exam (class has no final) • Submit a printed copy • Due on Wednesday of Finals Week (4PM)

  4. Project resources • Will be posted on class website • Sample paper from former student • Considers subsistence in part 1 • Addiotional cost of balanced diet (food pyramid) in part 2 • Final Project Description (details on the assignment) • List of Readings (not required) • Academic work in economics and nutrition on the cost of foods and health issues • Diet recommendation tables • Use this to look up the daily requirements (constraint RHS) • Example spreadsheet model: McD’s Subsistence • Database (after Assignment 1 completed)

  5. Database • Constructed by the class • Assignment 1 (15% percent of project grade) • Due March 28 • Submit in groups of 3 • Collect and submit information on 30 different foods • Price per serving • Nutritional content per serving • Format correctly and submit via email to • aremble@purdue.edu

  6. Format • Attach spreadsheet to an email • In the body of the email list the group members (no more than 3, no less than 2) • If your data is submitted but not usable: half credit for assignment • Check it closely: this is the point of doing it in groups • Most common mistake is not having information on per serving basis • Easiest way to format: overwrite your information in the example spreadsheet

  7. McDonald’s Subsistence: Example • An Example: • Using 11 McDonald’s sandwiches to construct a least-cost subsistencediet • Subsistence: a diet that meets a set of minimum requirements only • Look at some alternative questions based on the solution to the subsistence problem

  8. The Data • Vitamin C and Calcium are expensive in these foods • 5$ to get a day’s Ca from Dbl Cheese

  9. The Data • Fat and calories are relatively cheap to get from these foods

  10. The Model • Least Cost-Subsistence Model • Must get minimums (30 yr old male) according to daily dietary recommendations • Calories = 2500 • Fat = 0 • Sodium = 2300 mg • Carbohydrates = 130 gm • Fiber = 38 gm • Protein = 56 gm • Vitamins A & C, Ca, Fe = 125% (of 2000 calorie diet)

  11. The Solution • Total Costs = $40.44 • Foods • 3.68 Double Cheeseburgers • 14.71 Big n’ Tasties • Binding Constraints • Vitamin A and Vitamin C • Other thoughts • High fat, calories, and carbs (438 gm fat, >8000 cals, 670 gm carbs) • Shadow prices tell me that if I want to consider alternative nutrient sources, every pct point in Vit A can lower costs by $0.04, and pct point in Ca can lower costs by $0.28.

  12. McD’s plus a Vit C supplement • Add a vitamin C supplement to my model using its cost per serving and nutritional information • $.11 per tablet, 1667% of daily VitC and 11% of daily Ca • New solution • Total Costs = $17.71, same binding constraints plus fiber • Still high calories, fat, and carbs

  13. Upper bound on grams of fat • At 100 and 200 grams of fat as an upper limit, there is no solution • You can not meet the minimum nutrition without exceeding 200 g of fat using these sandwiches • At 300 grams of fat get a solution • That’s still pretty high • Probably want to look at the McD’s menu salads and other items to try and find some lower fat foods if pursue the upper limit on fat intake

  14. Ideas for your Project: Activities • Comparison models • Type A diet vs Type B diet • Food away from home vs prepared at home • Is the cost difference enough to justify the time spent preparing foods? • Supplementing of diets with limited foods • With only 20 foods, a couple of constraints are going to determine your costs • Adding a food (or supplement) rich in the binding constraint from the subsistence solution will lower costs

  15. Ideas for your Project:Constraints • Subsistence in a 20 food model gives weird solutions (eating high quant of few foods) • Adjusting the constraints to reflect health considerations and what those health considerations might cost works well • Diabetic or other restricted diet costs • Upper bound limitations on some nutrients • Sample paper from finds that balanced diet (food pyramid), doubles costs • Exercise based or other commercial diets • See the annotated bibliography for other ideas

  16. Final Tips • Use what you have learned in class • Look to shadow prices of your initial subsistence model to see which constraints and foods are driving the final cost • Look to excess constraints (slack) to see where you might address health concerns such as high fat etc. • Look to objective penalties to find out what foods are the worst for a cost minimizing consumer

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