208-210 Agricultural Management Economics

207-101 Land, Food and Resource Economics or 316-102 Introductory Microeconomics.

The aim of this subject is for students of agricultural science and agricultural economics to understand the principles of management economics applied to the operation of agricultural business, be able to analyse investment and profitability of resource use in agricultural businesses, and evaluate business marketing strategies.

The content of the subject is as follows:

• management;

• financial management;

• profit, cash flows and business structure;

• activity analysis;

• budgeting;

• investment analysis;

• risk management; and

• futures markets.

A number of case studies will be completed.

A 3-hour examination (60%) and two 2000-word assignments (20% each). Students must achieve a minimum of 45% in the examination in order to pass the subject.

• L R Malcolm and J P Makeham, The Farming Game Now. CUP, 1992.