BUSINESS PRINCIPLES OF AGRICULTURAL MANAGEMENT

FISC 50

Examines the five areas of risk management of an agricultural business: production risk, human risk, financial risk, market risk, and institutional risk. Discusses the internal and external contexts affecting the management of an agricultural business. Investigates the changing structures of agriculture, creating a unique landscape for today's agricultural businesses. Students are encouraged throughout the course to reflect on and discuss examples from their own experiences, and think critically about how these factors may impact their strategy for managing a business.

AAE 101

Introduction to economic ways of thinking about a wide range of problems and issues. Topics include consumption, production, prices, markets, finance, trade, pollution, growth, farms, taxes, and development.

AAE 625

Includes a sequential study of subject material in agribusiness management and managerial economics related to the management of agricultural businesses. Topics related to agribusiness management in the U.S., including organizational structure, marketing, strategy, financial statements, financing and production planning. Concepts from managerial economics as applied to the agribusiness firm, including production theory, cost analysis, pricing strategies, cost-benefit analysis, investment decisions and competition strategies.

FISC 121

This course focuses on the farm and its marketing environment and provides an overview of the economics of grain and milk markets. The course concentrates on developing skills for effective grain and dairy marketing analysis and strategies. It examines forward contracting, hedging on futures markets, delayed pricing and options trading. It will also examine farm policies and the impact on farms. Students will gain an understanding and appreciation of the commodity and futures markets, major trends and causes of trends in dairy and grain industries, market factors that influence farm commodities, risk tools and cooperatives.

AAE 320

Application of economics to managing agricultural production systems. Topics include optimizing agricultural production, farm financial analysis, tax management, business entities, federal commodity support programs, and the structure and challenges in the US agricultural sector.