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Agribusiness Economics

Course Number: 10090303
Credits: 3.00

Course Description

10-090-303 AGRIBUSINESS ECONOMICS ...basic knowledge of macro and micro economics will be taught, proficiency in developing basic cash flows, cost benefit analysis, enterprise analysis, budget development, profit loss statements and developing cost of production. Student should be able to develop adequate information for farm manager to analyze business proposals.

Course Typically Offered

  • Fall

Length of Course

Course Competencies

  1. Differentiate how agricultural commodities are priced at the local point of sale.
  2. Relate how global markets influence local farm commodity prices (macroeconomics and microeconomics).
  3. Associate the effects on-farm practices (good and bad) have on product quality and value.
  4. Calculate costs of production for various farm products.
  5. Compare previously budgeted expenses and incomes to actuals.
  6. Record daily activities as appropriate on accepted formats.
  7. Compare various options to resolve a pending problem area.
  8. Accept responsibility to use all farm resources carefully and as efficiently as possible.
  9. Organize daily tasks to be completed in a timely manner.
  10. Review sustainable principles being applied in farming industry.