AGRICULTURAL MANAGEMENT ECONOMICS

AGR3AME

2016

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

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsThe Farming Game: Agricultural Management and Marketing 2nd editionPrescribedB. Malcolm, J. Makeham and V. WrightCAMBRIDGE 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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Start date between: and    Key dates

Melbourne, 2016, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorPeter Sale

Class requirements

Lecture Week: 13 - 13
One 3.0 hours lecture per week on weekdays during the day from week 13 to week 13 and delivered via face-to-face.

Lecture Week: 12 - 12
One 3.0 hours lecture per week on weekdays during the day from week 12 to week 12 and delivered via face-to-face.

Computer Laboratory Week: 11 - 11
Two 3.0 hours computer laboratory per week on weekdays during the day from week 11 to week 11 and delivered via face-to-face.

Lecture Week: 11 - 11
Two 2.0 hours lecture per week on weekdays during the day from week 11 to week 11 and delivered via face-to-face.

Lecture Week: 10 - 10
One 3.0 hours lecture per week on weekdays during the day from week 10 to week 10 and delivered via face-to-face.

Lecture Week: 10 - 10
Two 2.0 hours lecture per week on weekdays during the day from week 10 to week 10 and delivered via face-to-face.

Field Trip Week: 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"

Computer Laboratory Week: 10 - 10
Three 3.0 hours computer laboratory per week on weekdays during the day from week 10 to week 10 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
One 1500-word financial report40 01, 02
One 3-hour examination (essay style and short answers)60 03, 04