AGRI-ECONOMICS

AGR1AGE

2018

Credit points: 15

Subject outline

In this subject, students will examine micro and macroeconomic theories and their application to rural agricultural enterprises, agribusinesses and the agricultural market place. An understanding of key economic concepts will provide students with the knowledge and skills to analyse the impact of both on-farm and off-farm business activities in agricultural enterprises. Local and global influences and their impact on agricultural commodities will also be investigated. Students will identify and reflect on ethical issues relevant to agri-economics and consider economic case studies at enterprise, regional, national and international levels.

SchoolSchool of Life Sciences

Credit points15

Subject Co-ordinatorPenelope Smith

Available to Study Abroad StudentsNo

Subject year levelYear Level 1 - UG

Exchange StudentsNo

Subject particulars

Subject rules

Prerequisites Admission into SBATE

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsAgricultural and resource policy: principles and practiceRecommendedGodden D, 2006SYDNEY UNIVERSITY PRESS, NSW.
ReadingsAn introduction to economics - concepts for students of agriculture and the rural sectorRecommendedHill, B, 20063RD EDN, CABI, OXFORDSHIRE, UK.
ReadingsEconomicsRecommendedSloman, J & Norris, K 2002PEARSON EDUCATIONAL, SYDNEY.
ReadingsProductivity growth in Australian agriculture: trends, sources, performanceRecommendedMullen, J 2007AUSTRALIAN FARM INSTITUTE, SURRY HILLS, NSW.
ReadingsThe farming game: agricultural management and marketingRecommendedMalcolm, B, Makeham, J & Wright, V 20052ND EDN, CAMBRIDGE UNIVERSITY PRESS, PORT MELBOURNE, VICTORIA.

Graduate capabilities & intended learning outcomes

01. Describe selected micro and macro-economic theories in relation to agribusiness

Activities:
Tutorial exercises, lectures and an essay will be used to introduce the students to common micro- and macro-economic theories. Applications to agribusinesses will explored.
Related graduate capabilities and elements:
Creative Problem-solving
Writing
Teamwork
Speaking
Ethical Awareness

02. List key concepts of business level production economics

Activities:
Concepts such as supply and demand, law of diminishing returns and elasticity will be explored through lectures and application to production economics in tutorials.
Related graduate capabilities and elements:
Teamwork
Writing
Creative Problem-solving
Ethical Awareness
Speaking

03. Describe and explain concepts of demand and supply, elasticity, markets, competition and market failure in an agricultural context

Activities:
Concepts such as supply and demand, law of diminishing returns and elasticity will be explored through lectures and application in tutorials. Firms will be selected to provide case studies.
Related graduate capabilities and elements:
Teamwork
Creative Problem-solving
Speaking
Writing

04. Identify and reflect on ethical issues relevant to agrieconomics

Activities:
Professional ethical behaviour and norms will be explored through case studies and tutorials.
Related graduate capabilities and elements:
Writing
Speaking
Ethical Awareness

Subject options

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Start date between: and    Key dates

Epping, 2018, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorPenelope Smith

Class requirements

WorkShop Week: 31 - 43
Two 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
Essay (1500 words)40 01, 03
Group case study (1500 words)30 01, 02, 03
Tutorial Exercises (8 exercises during semester)30 01, 02, 03, 04