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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Agriculture

212-310/410 Agricultural Business Management and Marketing

Credit Points:

15 in 3rd year, 16 in 4th year

Coordinator:

Mr L R Malcolm

Timetable:

Semester 2

Contact:

36 hours of lectures and 36 hours of tutorials/seminars

Objectives:

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.

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%, with a minimum of 45% in any component of assessment.

Prescribed Texts:

  • Malcolm L R and Makeham J P, The Farming Game Now, CUP 1992.
  • Kohls R. L and Uhl J. N., Marketing of Agricultural Products, 7th ed. Macmillan 1990.
  • Tomek W. G. and Robinson K. L., Agricultural Product Prices, 3rd ed. Cornell University Press 1988.
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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Agriculture 
Status:                   OFFICIAL 1997
Last Modified:            Wednesday March 12 3:36 pm
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Email Enquiries:          Course_Information@registrar.unimelb.edu.au
Copyright © University of Melbourne 1997.