Module: Economic Applications for Farm Enterprises

Module details

  • Module code

    2222
  • Module leader

    Mike Draper
  • Module Level

    5
  • Module credits

    15
  • Min study time

    150 hours
  • Contact hrs

    40 hours
  • Teaching Period

    Semester 1

Module content

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.

Module outcomes

To achieve credit for this module, students must be able to:

  1. Demonstrate understanding of the economic models studied and their application to agricultural and rural enterprises.
  2. Illustrate and evaluate the use of information to inform agricultural and rural enterprise analysis, budgeting and planning.
  3. Interrogate physical and financial data and compile enterprise management accounts for operational and management decision making purposes.

Assessment

Assessment Description Weighting
Coursework Group Project Report 100%

Key texts

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.