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Unit of study_

AREC3005: Agricultural Finance and Risk

Agricultural production is typically risky, adding complexity to decision analysis and increasing need of risk consideration in agricultural policy design. This unit explores this theme, and has two related components: risk and risk management in agriculture, and issues of agricultural producer finance. These two components cover a broad range of topics that incorporate production risk and other sources of risk in agriculture.

Code AREC3005
Academic unit Economics
Credit points 6
Prerequisites:
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AREC2005 or AREC2001 or AREC2002 or AGEC2101 or ECOS2001 or ECOS2901 or ECOS2040
Corequisites:
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None
Prohibitions:
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None

At the completion of this unit, you should be able to:

  • LO1. demonstrate a sound understanding of theoretical knowledge of decision making under risk and uncertainty in agriculture
  • LO2. demonstrate a sound understanding of the methods and tools for dealing with risk and uncertainty that are available to agricultural producers
  • LO3. demonstrate a sound understanding of different representations of risk and uncertainty
  • LO4. demonstrate an ability to use data to calculate different measures of risk and uncertainty
  • LO5. demonstrate an ability to clearly communicate results and implications of applied economic analysis.