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FÖ0458

Production economics

The course intends to give students a theoretical background and skills for the application of production and cost theory and operation research methods, in order to formulate, analyze, and solve simple economic problems dealing with food and natural resources. The course aims at communicating several methods for the analysis of the above-mentioned problems in a situation where price and/or production risk exists.
The student will be able to use the methods in order to understand and analyze the relation between new technology and production conditions in the primary and secondary stages of the food chain. The influence on the supply relationship in the agricultural sector as well as the expected effects on the surrounding environment is an integral part. Applications of methods such as simulation, (non)linear optimization may involve assessments of economic efficiency measures, economic effects of livestock diseases, risk management techniques through diversification and contracts at various stages of the food chain as well as the formation of partnership arrangements.
2020-10-08
Welcome to the Swedish University of Agricultural Sciences
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The course evaluation is now closed

FÖ0458-20022 - Course evaluation report

Once the evaluation is closed, the course coordinator and student representative have 1 month to draft their comments. The comments will be published in the evaluation report.

Additional course evaluations for FÖ0458

Academic year 2019/2020

Production economics (FÖ0458-20089) 2019-11-01 - 2020-01-19

FÖ0458 Production economics, 15.0 Credits

Produktionsekonomi

Syllabus approved

2018-11-26

Subjects

Business Administration Economics

Education cycle

Second cycle

Modules

Title Credits Code
Written exam 10.00 1002
Project assignment 5.00 1003

Advanced study in the main field

Second cycle, only first-cycle courses as entry requirements(A1N)

Grading scale

5:Pass with Distinction, 4:Pass with Credit, 3:Pass, U:Fail The requirements for attaining different grades are described in the course assessment criteria which are contained in a supplement to the course syllabus. Current information on assessment criteria shall be made available at the start of the course.

Language

English

Prior knowledge

Knowledge equivalent to 180 credits, including 90 credits within business administration or economics. 15 credits microeconomics must also be included as well as 15 credits statistics or 5 credits mathematics and 5 credits statistics. Knowledge equivalent to English 6.

Objectives

The course aims at providing students with theoretical knowledge and skills in production economics.

After successful completion of the course, students will be able to:

- have the theoretical background and skills for the application of production and cost theory and methods of operation analysis,
- account for the resilience concept and its implications related to farm economics,
- apply EV and MOTAD modeling techniques and simulation to solve problems in a planning environment characterized by risk and uncertainty,
- use the models discussed in the course in order to understand and analyze the relation between new technology and production conditions in the primary and secondary stages of the food marketing chain and their influence on the supply relationship in the farming industry as well as the expected effects on the surrounding environment.

Content

The course is implemented with lectures, exercises and a mandatory, group based project assignment.

In this course, linear and non-linear models are applied in a static deterministic and stochastic planning environment. Case studies include examples of new innovative technologies, changing environmental regulations, policy interventions in agriculture, veterinary and animal science economic aspects and altered patterns in the processing industry.

The course includes the following topics:
- Advanced production and cost theory and its relationship to micro-theory
- Capital budgeting techniques and their relation to micro economic theory
- The resilience concept and its implications for farm economic analyses
- Non-linear and linear optimization methods in consideration of theoretical foundations
- Decision-making with risk; EV-analyses, MOTAD-analyses, simulation
- Case studies as project assignments
- Welfare economic implications at the sector level

Formats and requirements for examination

Passed exam.
Passed project assignment.
Participation in compulsory components (presentation of project work).

  • If the student fails a test, the examiner may give the student a supplementary assignment, provided this is possible and there is reason to do so.
  • If the student has been granted special educational support because of a disability, the examiner has the right to offer the student an adapted test, or provide an alternative assessment.
  • If changes are made to this course syllabus, or if the course is closed, SLU shall decide on transitional rules for examination of students admitted under this syllabus but who have not yet passed the course.
  • For the examination of a degree project (independent project), the examiner may also allow the student to add supplemental information after the deadline. For more information on this, please refer to the regulations for education at Bachelor's and Master's level.

Other information

  • The right to take part in teaching and/or supervision only applies to the course date to which the student has been admitted and registered on.
  • If there are special reasons, the student may take part in course components that require compulsory attendance at a later date. For more information on this, please refer to the regulations for education at Bachelor's and Master's level.

Additional information

The specific entry requirements can also be fulfilled through four years of completed studies at the Forest Science programme with specialization in business administration.

Entry requirements can also be met by students who are admitted to the agricultural programme and have the knowledge equivalent to 180 credits at undergraduate level out of which at least 60 credits in business administration or economics, and have taken (and been approved) the FÖ0449 (Företagsbeslut & mikroekonomi) och FÖ0373 (Lantbruksekonomi och driftsplanering) or NA0179 (Econometrics and programming). Level of English equivalent to upper secondary school English.

Students admitted autumn 2015 or earlier: the requirement of FÖ0449 can be replaced by the course FÖ0395 and the requirement of NA0179 can be replaced by the course NA0161.

Responsible department

Department of Economics

Further information

Determined by: Programnämnden för utbildning inom naturresurser och jordbruk (PN - NJ)
Replaces: FÖ0456 och FÖ0362
There are no Grading criteria posted for this course
1) Agricultural Production Economics
Author: David Debertin
ISBN: 978-1475244342
2) Coping with risk in agriculture
Author: Hardaker, J. B., Huirne, R. B. M., Anderson, J. R. and G. Lien
ISBN: 978-0851998312

Course facts

The course is offered as an independent course: Yes The course is offered as a programme course: Agricultural Economics and Management - Master´s Programme Agricultural, Food and Environmental Policy Analysis (AFEPA) - Master´s Programme Agriculture Programme - Economics and Management Agriculture Programme - Economics and Management (270 hec) Agricultural Economics and Management - Master´s Programme Forest Science - Master´s Programme Tuition fee: Tuition fee only for non-EU/EEA/Switzerland citizens: 26165 SEK Cycle: Second cycle
Subject: Business Administration Economics
Course code: FÖ0458 Application code: SLU-20022 Location: Uppsala Distance course: No Language: English Responsible department: Department of Economics Pace: 100%