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.
1x2hr lecture/week, 1x1hour tutorial/week
1 x mid-semester test (25%), 1x 1500wd assignment (25%), 1x final exam (50%)
AREC2005 or ECOS2001 or ECOS2901 or AREC2003Prohibitions
AREC2001 or AREC3001