agr3mct ag marketing
AGRICULTURAL MARKETING AND COMMODITY TRADING
AGR3MCT
2017
Credit points: 15
Subject outline
The purpose of this subject is to provide an introduction to marketing theory, marketing concepts and its evolution from a strategic and applied agribusiness perspective in local and global contexts. Students will develop introductory knowledge and skills in collecting and evaluating market data, distinguishing the characteristics of possible markets, assessing the viability of current operations to take advantage of marketing opportunities and identifying market factors and risks. Understanding of distribution processes, pricing, pricing trends and communication will be developed, including the role of rural producers, marketers and their agents in risk management strategies. The subject also explores the operation of futures markets, forward selling arrangements, put options, foreign exchange rates, contract law, cash flow and taxation planning, and contingency planning.
SchoolSchool of Life Sciences
Credit points15
Subject Co-ordinatorPenelope Smith
Available to Study Abroad StudentsNo
Subject year levelYear Level 3 - 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 | Marketing - core concepts and applications | Prescribed | Pride, W, Elliott, G, Rundle-Theile, S, Waller, D, Paladino, A & Ferrell, O 2007 | 2ND EDN, WILEY, BRISBANE. |
| Readings | An introduction to economics - concepts for students of agriculture and the rural sector | Recommended | Hill, B, 2006 | 3RD EDN, CABI, OXFORDSHIRE, UK. |
| Readings | The farming game: agricultural management and marketing | Recommended | Malcolm, B, Makeham, J & Wright, V 2005 | 2ND EDN, CAMBRIDGE UNIVERSITY PRESS, PORT MELBOURNE, VICTORIA. |
| Readings | http://www.asx.com.au/products/asx-grain-futures-and-options.htm | Recommended | tba | tba |
| Readings | http://www.cmegroup.com/trading/agricultural/ | Recommended | tba | tba |
| Readings | http://www.cropforecasters.com.au | Recommended | tba | tba |
| Readings | http://www.daff.gov.au/abares/ | Recommended | tba | tba |
| Readings | http://www.fao.org/giews/ | Recommended | tba | tba |
| Readings | http://www.oecd.org//site/oecd-faoagriculturaloutlook/commodityfocus2012-oecd-faoagriculturaloutlook.htm | Recommended | tba | tba |
Graduate capabilities & intended learning outcomes
01. Describe the key concepts of agribusiness marketing in relation to the operation of commodity markets both nationally and internationally
- Activities:
- Through both group work, excursions and tutorials, market concepts and how they apply to agriculture will be explored. Case studies of various commodities and markets will be used to illustrate the operation of these commercial activities.
- Related graduate capabilities and elements:
- Ethical Awareness(Ethical Awareness)
- Creative Problem-solving(Creative Problem-solving)
02. Apply the concepts of supply, value chains, product development and marketing processes to marketing
- Activities:
- Lectures, excursions and tutorials will use case studies to develop an understanding of the interrelationship of supply, value chains and product development. Presentation and discussion of finding will be expected in tutorials.
- Related graduate capabilities and elements:
- Ethical Awareness(Ethical Awareness)
- Creative Problem-solving(Creative Problem-solving)
03. Use standard tools to analyse commodity marketing risk and opportunities in domestic and international markets
- Activities:
- Exposure to analysis tool used in the industry will be done through workshops and selected computer programs and modelling.
- Related graduate capabilities and elements:
- Ethical Awareness(Ethical Awareness)
- Creative Problem-solving(Creative Problem-solving)
04. Analyse agricultural commodity trading instruments and develop pricing and risk management strategies
- Activities:
- Lectures, specialist industry representatives and workshops will be used to enable students to develop their understanding of risk management in this context. Use of Southern Farming Systems crop challenge (or similar) will be used.
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
- Inquiry/ Research(Inquiry/ Research)
- Ethical Awareness(Ethical Awareness)
05. Communicate investigations of commodities using professional and academic conventions
- Activities:
- Students will write and present a report to industry standards. These may be done in small groups.
- Related graduate capabilities and elements:
- Writing(Writing)
- Speaking(Speaking)
Subject options
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Epping, 2017, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorPenelope Smith
Class requirements
WorkShopWeek: 10 - 22
Two 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Assignment (1800 words) | 40 | 01, 02, 03, 04, 05 | |
| Essay (700 words) | 20 | 01, 02, 03, 05 | |
| Written Exam (2 hour) | 40 | 01, 02, 03, 04 |