Handbook 1996 : Faculty of Agriculture, Forestry and Horticulture (Volume 4 page 18)
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Year 3 Agriculture.
Credit points: 15
Coordinator: Mr L R Malcolm.
Contact: 36 hours of lectures and 36 hours of tutorials/seminars.
Timetable: Second semester
Aims: The aim is for students of agricultural science and agricultural economics to understand and be able to analyse the profitable use, maintenance and improvement of resources in agricultural business management and marketing.
Objectives:
By the end of this subject students should possess the following skills: be able to define the objectives of the owners/operators of a farm business; be able to assess the quality of physical resources available and relate these to the present and potential situation of the farm business; be able to define measures such as operating profit, activity gross margins, fixed and variable costs, cash flows, balance sheet, gearing and debt servicing ability; be able to appraise farm land and assets for purchase or lease; be able to analyse long term investments in maintaining and improving agricultural resources; be able to analyse investments in machinery; be able to incorporate consideration of risk and uncertainty into farm management and agricultural project analyses; be able to analyse crop, pasture and livestock activities; to understand the role of tax; to understand the concepts and functions of agricultural marketing; be able to assess the efficiency of commodity marketing chains; to understand market information, grading, and marketing efficiency; to understand the use of futures and options markets and forward contracting.
Content:
Management. Financial management. Profit, cash flows and business structure. Activity analysis. Budgeting. Investment analysis. Risk management. Resource maintenance and improvement. Agricultural marketing. Marketing efficiency. Futures markets. A number of farm visits will be made and case studies completed.
Assessment:
A 3-hour end-of-semester written examination; case study assignments. An overall pass requires an overall mark of 50 per cent, with a minimum of 45 per cent in any component of assessment.
Prescribed texts:
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Handbook 1996 : Faculty of Agriculture, Forestry and Horticulture (Volume 4 page 18)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: School of Agriculture, Faculty of Agriculture, Forestry and Horticulture.
Copyright © University of Melbourne 1995,1996.