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
Session 1 (30)
On Campus
CY O'Connor - Muresk Institute
Wagga Wagga Campus
Online
Wagga Wagga Campus
Continuing students should consult the SAL for current offering details. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Subject Information
Grading System
HD/FL
Duration
One session
School
School of Agricultural and Wine Sciences
Enrolment restrictions

No enrolment restrictions

Learning Outcomes
Upon successful completion of this subject, students should:
  • Be able to understand the forces of supply and demand and how they determine price in the market
  • Be able to identify core principles of microeconomics, especially related to agricultural production, cost analysis and prices and application of these economic principles to selected farm management problems
  • Be able to demonstrate an awareness of various agricultural industries and characteristics of their market structures
  • Be able to interpret and apply basic algebra and graphical representation to present economic concepts
  • Be able to understand the relevance of private and social costs in agricultural production and market failure
Syllabus
The subject will cover the following topics:
  • Part A - Market and Price Analysis - Introduction to Australian agriculture; consumer demand and elasticity; profit maximisation and supply;market equilibrium; and imperfect competition
  • Part B - Production and Cost Analysis - Production and optimal input selection; optimal combinations of inputs and outputs; costs of production; enterprise performance and gross margin analysis
Contact
Current Students

For any enquiries about subject selection or course structure you will need to contact your Course Director. You can find the name and contact details for your Course Director in your offer letter or contact your School office.

Prospective Students

For further information about Charles Sturt University, or this course offering, please contact info.csu on 1800 334 733 (free call within Australia) or enquire online.

The information contained in the 2017 CSU Handbook was accurate at the date of publication: June 2018. The University reserves the right to vary the information at any time without notice.

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