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Unit of study_
AGRI1001: Economics and Business of Agriculture
2024 unit information
In the contemporary Australian agriculture sector, an understanding of both the science and economics of production and sustainability is crucial. This unit of study will provide all Agricultural Science students with fundamental understanding of some key economic principles relevant for agriculture and will introduce students to the characteristics of the economic environment in which agriculture operates. The topics discussed include agriculture as a business enterprise and its place in the economy, introductory principles of production economics and basic modelling of production decisions; agriculture as a risky business and the economics of new possibilities in agriculture, such as carbon credits and biodiversity offsets.
Unit details and rules
Managing faculty or University school:
Science
| Study level | Undergraduate |
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| Academic unit | Life and Environmental Sciences Academic Operations |
| Credit points | 6 |
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Prerequisites:
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None |
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Corequisites:
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None |
| Prohibitions:
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None |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. Apply economic reasoning to the processes of production and use of agricultural products and services.
- LO2. Develop understanding of the markets for agricultural products and services in the 21st century.
- LO3. Analyse the role of government in the agricultural sector.
- LO4. Evaluate the trade-offs and complementarities between profitability, environmental sustainability, and natural capital in agriculture.
- LO5. Develop understanding of the place that agriculture has in the overall economy and how it develops and changes over time.
- LO6. Analyse agriculture in an international context, including trade and development
Unit availability
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Modes of attendance (MoA)
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