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Unit of study_

AREC3006: Agricultural Production Economics

This unit of study is concerned with the application of microeconomic principles to management decisions in agricultural production systems. It builds on the theoretical knowledge acquired in previous studies and introduces the methods of applied economic analysis through a range of topics including: production, cost and profit functions; methods for the measurement of productivity; optimisation in biological production systems; and production under risk. The unit introduces the linear programming technique to solve decision making problems encountered by agribusiness and natural resource firms and managers in public agencies.

Code AREC3006
Academic unit Economics
Credit points 6
Prerequisites:
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AREC2005 or ECOS2001 or ECOS2901 or AREC2003
Corequisites:
? 
None
Prohibitions:
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AREC2001 or AREC3001

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

  • LO1. Demonstrate ability to conceptualise production decisions made by producers
  • LO2. Apply production theory to empirical economic problems in agricultural, environmental and natural resource contexts
  • LO3. Perform basic evaluation of productivity and efficiency
  • LO4. Conceptualise and analyse risk and uncertainty in production economics context
  • LO5. Analyse production behaviour in a dynamic context
  • LO6. Use linear programming techniques to analyse and optimise production decisions

Unit outlines

Unit outlines will be available 1 week before the first day of teaching for the relevant session.