agr1age agri economics
AGRI-ECONOMICS
AGR1AGE
2017
Credit points: 15
Subject outline
In this subject, students will examine micro and macroeconomic theories and their application to rural agricultural enterprises, agribusinesses and the agricultural market place. An understanding of key economic concepts will provide students with the knowledge and skills to analyse the impact of both on-farm and off-farm business activities in agricultural enterprises. Local and global influences and their impact on agricultural commodities will also be investigated. Students will identify and reflect on ethical issues relevant to agri-economics and consider economic case studies at enterprise, regional, national and international levels.
SchoolSchool of Life Sciences
Credit points15
Subject Co-ordinatorPenelope Smith
Available to Study Abroad StudentsNo
Subject year levelYear Level 1 - UG
Exchange StudentsNo
Subject particulars
Subject rules
Prerequisites Admission into SBATE
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Agricultural and resource policy: principles and practice | Recommended | Godden D, 2006 | SYDNEY UNIVERSITY PRESS, NSW. |
| Readings | An introduction to economics - concepts for students of agriculture and the rural sector | Recommended | Hill, B, 2006 | 3RD EDN, CABI, OXFORDSHIRE, UK. |
| Readings | Economics | Recommended | Sloman, J & Norris, K 2002 | PEARSON EDUCATIONAL, SYDNEY. |
| Readings | Productivity growth in Australian agriculture: trends, sources, performance | Recommended | Mullen, J 2007 | AUSTRALIAN FARM INSTITUTE, SURRY HILLS, NSW. |
| Readings | The farming game: agricultural management and marketing | Recommended | Malcolm, B, Makeham, J & Wright, V 2005 | 2ND EDN, CAMBRIDGE UNIVERSITY PRESS, PORT MELBOURNE, VICTORIA. |
Graduate capabilities & intended learning outcomes
01. Describe selected micro and macro-economic theories in relation to agribusiness
- Activities:
- Tutorial exercises, lectures and an essay will be used to introduce the students to common micro- and macro-economic theories. Applications to agribusinesses will explored.
- Related graduate capabilities and elements:
- Creative Problem-solving(Creative Problem-solving)
- Writing(Writing)
- Teamwork(Teamwork)
- Speaking(Speaking)
- Ethical Awareness(Ethical Awareness)
02. List key concepts of business level production economics
- Activities:
- Concepts such as supply and demand, law of diminishing returns and elasticity will be explored through lectures and application to production economics in tutorials.
- Related graduate capabilities and elements:
- Teamwork(Teamwork)
- Writing(Writing)
- Creative Problem-solving(Creative Problem-solving)
- Ethical Awareness(Ethical Awareness)
- Speaking(Speaking)
03. Describe and explain concepts of demand and supply, elasticity, markets, competition and market failure in an agricultural context
- Activities:
- Concepts such as supply and demand, law of diminishing returns and elasticity will be explored through lectures and application in tutorials. Firms will be selected to provide case studies.
- Related graduate capabilities and elements:
- Teamwork(Teamwork)
- Creative Problem-solving(Creative Problem-solving)
- Speaking(Speaking)
- Writing(Writing)
04. Identify and reflect on ethical issues relevant to agrieconomics
- Activities:
- Professional ethical behaviour and norms will be explored through case studies and tutorials.
- Related graduate capabilities and elements:
- Writing(Writing)
- Speaking(Speaking)
- Ethical Awareness(Ethical Awareness)
Subject options
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Epping, 2017, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorPenelope Smith
Class requirements
WorkShopWeek: 31 - 43
Two 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Essay (1500 words) | 40 | 01, 03 | |
| Group case study (1500 words) | 30 | 01, 02, 03 | |
| Tutorial Exercises (8 exercises during semester) | 30 | 01, 02, 03, 04 |