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Agribusiness 1 (AGRI90012)
Graduate courseworkPoints: 12.5On Campus (Parkville)
Overview
| Availability | Semester 1 |
|---|---|
| Fees | Look up fees |
An understanding of managerial economic theory to solving real world problems is integral to sound business decision-making. Through this subject student will gain an understanding of, and ability to apply, key micro economic principles and applied economics and finance to management decisions in agriculture and food sectors. They will also experience the application of management economics to Australian and global agribusiness issues and challenges. Students will become familiar with concepts of market demand and supply, theory of the firm, market structure, trade, market failure, the impact of government policies, financial statements and capital budgeting.
Intended learning outcomes
On completion of this subject, students should be able to:
- Understand how a modern market economy functions and the role of the agribusiness sector
- Understand the concepts of supply, demand, equilibrium, (economic) profits and prices to explain differences across different agri markets
- Apply microeconomic analytical techniques to agribusiness to improve decision-making and problem solving
- Apply economic principles to identify and then analyse solutions to problems and challenges of firms operating agribusiness
- Use financial and economic information to determine appropriate investment decisions
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- Evaluation and synthesis of ideas, views and evidence
- Critical thinking
- Accessing economic and agribusiness information
- Problem solving skills
- Collaborative learning and teamwork
- Written communication
- Management and analysis of financial data
- Ability to plan work, use time effectively
- Manage small projects
Last updated: 14 August 2024