The main objective of the course is to introduce students to the economic analysis of agricultural production at the farm level and to analyse the economic impact of management on the economic performance of farms in order to develop a working knowledge of how basic economic concepts. The aim of lectures and class practices is to build a balance sheet and to apply the knowledge acquired on agricultural economics and market variables useful to support the decision making process at farm level.
Textbooks:
Torquati Biancamaria (2003): Economia e gestione dell'impresa agraria. Il processo decisionale, il sistema informativo aziendale e gli strumenti di controllo. Con CD-ROM. Il Sole 24 Ore Edagricole.
Bruni, F. e Franco, S. (2003). Economia dell’impresa e dell’azienda agraria, Milano, Franco Angeli., capitolo 2
Learning Objectives
Knolewdge acquired:
definition of production cost, analysis of economic performance of agricultural production process, basic Marketing Principles .
Competence acquired (at the end of the course):
Managing a farm business, including topic such as: the decision making process, farm management and economic concepts, the analysis of financial statements, farm planning and budgeting, input management.
Skills acquired (at the end of the course):
to know the tools of farm management, to build a profit and loss account for the economic analysis of agricultural production units. Marketing applications
Prerequisites
Students are expected to be familiar with the principles of economics
Courses recommmended: Mathematics
Further information
Frequency of lectures, practice and lab, although non compulsory, is strongly recommended
Type of Assessment
Exam modality: oral or written examination on the subjects of lectures and laboratory
Course program
Entrepreneurship in agriculture. Firms and production units in agriculture. Economic performances in agriculture: financial statements, economic profit and loss account. Alternative structures of the economic profit and loss account. Description and valuation of factors of production in the agricultural holding. Value of production, variable costs, fixed costs. Income formation and distribution at the farm level.
Use of spreadsheet to build a profit and loss account of the agricultural holding to assess the efficiency of farm management. Strategic marketing and marketing application