Semester 2 - Online
Semester 2 - On Campus
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Managing risk is fundamental to agribusiness management. The art of managing risk is balancing the consequences of loss and the rewards of profit.
In practical business management - farmers, merchants, and end-users in a food/fibre supply chains are exposed to volatility, particularly supply and price risk. In this subject, the focus is on business decision-making under risk and uncertainty and techniques to manage volatile commodity prices, currency and interest rates.
Intended learning outcomes
On completion of this subject students should be able to
- Be familiar with risk principles and application across disciplines
- Be familiar with decision theory under risk and uncertainty in agribusiness
- Understand the role of risk: reward trade-offs in the food-fibre supply chain
- Be able to measure risk and price volatility
- Be able to identify and articulate risk in agribusiness cases studies
- Analyse risk and apply tools of risk management to business decision-making
- Establish effective hedging strategies for managing commodity price risks through forward contracts, future contracts, options, & over-the-counter products
- Distinguish between financial and business risks and be able to analyse strategic risk management decisions
- Awareness of and ability to utilise appropriate communication technology and methods for the storage, management and analysis of data
- Computer-based skills to allow for effective online learning and communication and analysis using decision analysis and risk computer software.
- Ability to collaborate, exchange ideas and debate
- Ability to plan work, use time effectively and manage small projects
Last updated: 29 October 2019