792-231 Agricultural Economics and Policy

Credit Points

HECS Band

Coordinator

Semester

Contact

Subject Description

The objective of this subject is to enable participants to:

• understand the major economic factors affecting the agricultural sector of the national economy;

• appreciate the various methods used to stabilise prices and incomes; and

• understand the effects of government policy on the marketing of agricultural commodities and our competitiveness in the international market place and the role of the various interest groups in shaping government policy.

The content includes an overview of the various ways in which the prices of agricultural commodities are determined; an analysis of Australia's competitive position in the markets for our major exported agricultural commodities; a summation of the importance of agriculture to the Australian economy; a brief overview of the advantages and disadvantages of the major marketing alternatives for agricultural commodities; a basic coverage of the major means by which farm gate prices and farm incomes might be stabilised or supported; an overview of possible pathways for rural policy formulation and promulgation; and coverage of some of the possible impacts of government policies and the constraints within the Australian Constitution on the marketing of agricultural commodities.

Assessment

3-hour open-book written examination (60%); assignment of 2000 words (40%).