AGB110 Agricultural Economics (8)


Agricultural economics is the application of economic principles and financial management relating to the economic, social and environmental performances of agricultural businesses. This extends beyond the farm gate to encompass a broader range of food- and fibre- related activity which contributes significantly to the nation's output. This subject introduces some key economic theories and financial management tools for decision making in agriculture in Australia from a domestic and international perspective.

+ Subject Availability Modes and Location

Session 1
InternalCY O'Connor - Muresk Institute
InternalWagga Wagga Campus
DistanceWagga Wagga Campus
Continuing students should consult the SAL for current offering details: AGB110
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Agricultural and Wine Sciences

Enrolment restrictions

No enrolment restrictions

Learning Outcomes

Upon successful completion of this subject, students should:
  • Be able to identify core principles of microeconomics, especially related to a range of agricultural productions, cost analysis and prices
  • Be able to apply these economic principles to selected farm management problems of resourcing, financing and input use at the enterprise and whole farm levels
  • Be able to understand the law of supply and demand and how it relates to agrifood and fibre value chains
  • Be able to conduct price analyses and interpretations of supply chain management and related marketing problems
  • Be able to demonstrate an awareness of key issues related to international agricultural trade
  • Be able to describe economic policy aspects of environment and resource use issues


The subject will cover the following topics:
  • Part A Production and cost analysis: Introduction to Australian agriculture, economic concepts and agribusiness; Economic response to productive input; Costs, types of costs and short run and long run consideration
  • Part B Market and price analysis: Consumer demand and elasticity; Supply; Market equilibrium; Market prices under imperfect competition; Introduction to price analysis and forecasting
  • Part C Agribusiness analysis: Marketing margins; Economics of trade; Environmental economics


The information contained in the 2016 CSU Handbook was accurate at the date of publication: 06 September 2016. The University reserves the right to vary the information at any time without notice.