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ECON223 Farm and Resource Management

Updated: 15 January 2013
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Off Campus
Armidale Trimester 1 On Campus
Intensive School(s)
Start Finish Attendance Notes
16 April 2013 19 April 2013 Mandatory
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.
Pre-requisites 24cp
Co-requisites None
Restrictions ARE210 or BM203
Notes None
Combined Units None
Coordinator(s) Oscar Cacho (ocacho@une.edu.au)
Unit Description

A unit providing skills in managing a farm or resource-based business. The basic management functions of planning, implementing and monitoring/controlling are covered, with primary emphasis on planning for the short run. Skills learnt will include various budgeting techniques (gross margin, partial, whole farm, cash flow), sensitivity analysis, linear programming and the decision tree method of making a choice subject to risk.
Important Information

Where calculators are permitted in examinations, it must be selected from an approved list, which can be accessed from the Further Information link below.

Further information
Recommended Material
Optional 		Text(s):

Note: Recommended material is held in the University Library - purchase is optional

The Farming Game
ISBN: 9780521537551
Malcolm, B., Makeham, J.P. and Wright, V., CUP 2nd ed. 2005
Text refers to: Trimester 1 , On and Off Campus
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Title Exam Length Weight Mode No. Words
Assignment 1 15% 1200
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1,5 GA: 1, 2, 4, 6
Assignment 2 15% 1200
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 2, 3, 5 GA: 1, 2, 4, 6
Assignment 3 20% 1600
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1,4, 5 GA: 1, 2, 4, 6
Final Examination 2 hrs 50%
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1,4, 5 GA: 1, 2, 4, 6

Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. evaluate the financial and economic performance of a farm business by producing a set of benchmark budgets;
  2. evaluate the economic and resource consequences of changes to the farm operation;
  3. undertake basic risk analysis in the context of agricultural production;
  4. undertake whole-farm analysis by integrating management objectives, resource constraints and optimisation techniques (linear programming);
  5. use spreadsheets as analytical tools for farm and resource management.

Graduate Attributes (GA)
Attribute Taught Assessed Practised
1 Knowledge of a Discipline
Learning activities and assessments include examples from a variety of farming systems and are related to real-world scenarios. 		True True True
2 Communication Skills
The assessments require students to analyse and explain a number of farm management scenarios. 		True True
4 Information Literacy
A main focus of the unit is on using computer tools. 		True True True
6 Problem Solving
All assessment involves solving problems for various management scenarios. 		True True True
8 Team Work
Students are encouraged to interact during computer lab sessions and to discuss assessment problems with each other. 		True
   

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