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Wine economics sample exam, Prüfungen von Mikrosystemtechnik

ESCP Europe Wirtschaftshochschule BerlinMikrosystemtechnik

Samle exam for the year 2025/2026

Art: Prüfungen

2025/2026

Hochgeladen am 07.12.2025

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FREE UNIVERSITY OF BOZEN-BOLZANO
FACULTY OF ECONOMICS AND MANAGEMENT
UNIVERSITÄTSPLATZ 1 PIAZZA UNIVERSITÀ
PROF. DR. GÜNTER SCHAMEL
WINE ECONOMICS
Sample Exam Questions
A. Multiple Choice
1. Global wine production is dominated by the “big three.” This term
comprises the following countries:
a) Spain, France, and China
b) France, Italy and _______
c) Spain, U.S.A. and France
d) France, Italy and Australia
e) None of the above.
2. In terms of area, the most planted white grape variety in Germany is
a) Pinot Noir or Spätburgunder
b) Müller-Thurgau
c) Sylvaner
d) Chardonnay
e) __________.
3. What determines the alcohol content in a bottle of wine?
a) the amount of yeast added to the wine
b) the wine's aging process
c) the sugar content in the grape
d) the type of grape (variety)
e) None of the above.
4. You just heard of a study linking moderate red wine consumption and
lower rates of heart disease. Based on this information only, you can
expect that
a) wine consumption increases
b) Red wine prices increase
c) demand for red wine shifts
d) any of the above
e) None of the above.
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FREE UNIVERSITY OF BOZEN-BOLZANO FACULTY OF ECONOMICS AND MANAGEMENT UNIVERSITÄTSPLATZ 1 PIAZZA UNIVERSITÀ PROF. DR. GÜNTER SCHAMEL

WINE ECONOMICS

Sample Exam Questions

A. Multiple Choice

1. Global wine production is dominated by the “big three.” This term comprises the following countries: a) Spain, France, and China b) France, Italy and _______ c) Spain, U.S.A. and France d) France, Italy and Australia e) None of the above. 2. In terms of area, the most planted white grape variety in Germany is a) Pinot Noir or Spätburgunder b) Müller-Thurgau c) Sylvaner d) Chardonnay e) __________. 3. What determines the alcohol content in a bottle of wine? a) the amount of yeast added to the wine b) the wine's aging process c) the sugar content in the grape d) the type of grape (variety) e) None of the above. 4. You just heard of a study linking moderate red wine consumption and lower rates of heart disease. Based on this information only, you can expect that a) wine consumption increases b) Red wine prices increase c) demand for red wine shifts d) any of the above e) None of the above.

B. True / False / Explain

5. To increase the potential supply of wine in the market, the EU now has a system of transferable authorizations for new plantings. 6. Research has shown that a producer’s or brand reputation based on stronger than average quality performance can outweigh collective reputation within its region. 7. Countries with low alcohol taxes generally have lower per-capita alcohol consumption. C. Short Answer 8. Graph a supply curve for wine in Alto Adige. Argue why it is shaped the way you drew it and what the supply price elasticity of wine might be. . 9. Interpret the coefficients in the log-log regression model below (5 points). ln (Price) = 6.5 + 0.12ln(Temperature) – 0.02ln(Rain). 10. Briefly discuss why it is difficult to use wine prices as a quality signal in the long run (hint: use a game theory argument). Price

Q Wine

D. Econometric Problem 14. Suppose you have estimated the following model for Alto Adige wine: Ln( Price ) = – 1.423 + 1.5Ln( GM ) – 0.0741( White ) + 0.069*( Bio ) where P is the wine price in €, GM is a wine quality rating (max = 20), White is a dummy variable equal to one for white wines and Bio is a dummy variable equal to one if the wine is produced using bio-dynamic methods. a. What type of model are we discussing? __________ model b. Interpret the wine price elasticity with respect to the GM quality rating as well as the other variables in this model. b. What is the estimated price of a wine with a GM rating of 15 that is not produced by bio-dynamically and not a white wine. How will the estimated price change for a wine with an identical GM rating that is (i) produced bio-dynamically but not a white wine (ii) is a white wine but not produced bio-dynamically. c. Draw a graph to illustrate the estimated regression equation. d. The standard error for the “White” coefficient is 0.1482. Using a two-tailed t-test, is the “White” coefficient significant at 5% given that the equation was estimated using 84 observations? e. Using the t-table shown on the next page, please circle the relevant critical t-value that you used to determine your answer in part (d). E. Essay Question 15. Suppose you would like to estimate a demand curve for wine in Alto Adige. Which independent variables would you include in your estimation and what kind of data would you need? Based on the survey article discussed in class, discuss the general results for the own-price and income elasticity of wine demand that you may expect to estimate. Note: The “real” exam will sum up to a total of 100 points. To get the minimum passing grade of 18 you will have to achieve 50 points.

t-Distribution Critical Values