An explanation of the economic models of production decision making applied to agriculture and rural enterprise activity. An introduction to the application of accounting (gross margin) and planning (partial budgeting) as tools to inform operational and management decisions. Assessing enterprise performance with comparative analysis and benchmarking, giving due consideration to factor: factor, factor: product and product: product relationships.
To achieve credit for this module, students must be able to:
- Demonstrate understanding of the economic models studied and their application to agricultural and rural enterprises.
- Illustrate and evaluate the use of information to inform agricultural and rural enterprise analysis, budgeting and planning.
- Interrogate physical and financial data and compile enterprise management accounts for operational and management decision making purposes.
|Coursework||Group Project Report||100%|
Students should be familiar with the content of at least one of the following:
- Beierlein, J.G., Schneeberger, K.C. and Osburn, D.D. (2008). Principles of Agribusiness Management. (4th edition). Waveland.
- Cramer, G.L., Jensen, C.W. and Southgate, D.D. (2001). Agricultural Economics and Agribusiness. J Wiley.
- Jones, T. (2004). Business Economics and Managerial Decision Making. J Wiley.
- Turner, J.C. and Taylor, M.R. (1998). Applied Farm Management. (2nd edition). Blackwell Science.