agr3ame ag management economics
AGRICULTURAL MANAGEMENT ECONOMICS
AGR3AME
2015
Credit points: 15
Subject outline
This subject will provide students with skills in understanding and analyzing the profitable use, maintenance and improvement of resources in agricultural businesses. Topics will include farm management analysis; financial management; profit, cash flows and business structure; gearing and growth; activity analysis and budgeting; investment analysis; risk analysis and risk management; and resource maintenance and improvement. The subject will include a farm visit associated with a case study on the agricultural business.
SchoolSchool of Life Sciences
Credit points15
Subject Co-ordinatorPeter Sale
Available to Study Abroad StudentsYes
Subject year levelYear Level 3 - UG
Exchange StudentsYes
Subject particulars
Subject rules
PrerequisitesN/A
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | The Farming Game: Agricultural Management and Marketing 2nd edition | Prescribed | B. Malcolm, J. Makeham and V. Wright | CAMBRIDGE UNIVERSITY PRESS (2005) |
Graduate capabilities & intended learning outcomes
01. Prepare a major professional style report on the financial well-being of a farming business, using all the financial assessment tools that have been discussed during the semester.
- Activities:
- Students will be provided with financial management tools and procedures during the lectures. During the computer lab sessions the students will complete a series of spread sheet exercises where they document the financial performance of a farming business. They will then use this approach individually when they prepare their major report for the subject, on the financial performance of the farming business visited during semester.
- Related graduate capabilities and elements:
- Ethical Awareness(Ethical Awareness)
- Writing(Writing)
- Inquiry/ Research(Inquiry/ Research)
- Quantitative Literacy/ Numeracy(Quantitative Literacy/ Numeracy)
- Discipline-specific GCs(Discipline-specific GCs)
02. Work with one other student to analyse and record farming business financial data in spreadsheets.
- Activities:
- Students will be allocated to pairs and and given instructions as to how to work together. Their ability to work together will be indicated by their performance in completing the required financial exercises for the report.
- Related graduate capabilities and elements:
- Teamwork(Teamwork)
03. Describe and explain how the financial performance of an agricultural business can be assessed
- Activities:
- Concepts related to profitable agricultural business management will be introduced in lectures and in the final exam students will be given real world scenarios that require analysis of farm business structure.
- Related graduate capabilities and elements:
- Discipline-specific GCs(Discipline-specific GCs)
- Critical Thinking(Critical Thinking)
04. Explain and/or evaluate the importance of factors such as, cash flow, business structure, gearing and growth, risk management and resource management in determining the profitablility of an agricultural business
- Activities:
- Concepts related to profitable agricultural business management will be introduced in lectures and in the final exam students will be given real world scenarios that require analysis of farm business structure.
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
- Discipline-specific GCs(Discipline-specific GCs)
- Creative Problem-solving(Creative Problem-solving)
Subject options
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Melbourne, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorPeter Sale
Class requirements
Computer LaboratoryWeek: 16 - 21
Two 3.0 hours computer laboratory per week on weekdays during the day from week 16 to week 21 and delivered via face-to-face.
Field TripWeek: 10 - 10
One 1.0 days field trip per study period on weekdays during the day from week 10 to week 10 and delivered via face-to-face.
"Farm Visit"
LectureWeek: 16 - 21
Two 2.0 hours lecture per week on weekdays during the day from week 16 to week 21 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| One 1500-word financial report | 40 | 01, 02 | |
| One 3-hour examination (essay style and short answers) | 60 | 03, 04 |