Production economics
Entry Requirements
Course facts
FÖ0476, Production economics, 15.0 Hp
Print syllabus
Syllabus
Finalized by: PN - NJ, 2020-12-10
Valid from : Autumn semester 2021 (2021-08-30)
Level
Second cycle (A1N)
Main field of study
Business Administration, Economics
Grading Scale
The grade requirements within the course grading system are set out in specific criteria. These criteria must be available by the course start at the latest.
Course language
English
Entry Requirements
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:
– Account for in the course dicsussed models in advanced production and cost theory – Identify and account for well-adapted models for analysing and critically reviewing problem areas in cases of price and/or production risk, – Account for the concept of resilience and sustainable development and analyse its implications related to farm economic problems and outcome, – Apply in the course treated models to analyse the relationship between new technologies and production economic conditions in the primary and secondary stages of the food chain, as well as its impact on supply conditions in the agricultural industry and expected effects on the surrounding environment. – Apply theoretical knowledge and skills in production and cost theory and methods of operation analysis to solve advanced economic problems in agricultural firms and processing industry, – Apply econometric methods to analyse models presented in the course and analyse problems in a planning environment characterized by risk and uncertainty, – Synthesize sustainability aspects in an advanced production economic context and demonstrate how these aspects can be included in production economic models.
Content
The course is implemented with lectures, exercises and a mandatory, group-based project assignment.
The course analyses production economic models in a static deterministic as well as stochastic environment with a focus on the agricultural sector. The models may include examples of the effects of new innovative technologies, changes in regulations on, for example, environmental and animal welfare, agricultural policy interventions and changing processing patterns in the commodity-based industry.
The course includes the following topics: – Advanced production and cost theory and its relationship to micro-theory, which includes optimization, taking different restrictions into account. – Analyses of the concepts of resilience and sustainability and its implications for economic analysis at the primary and secondary stages of the food chain – Analysis of decision-making under risk and risk analysis methods. – Application of econometric method for analyzing production-related outcomes. – Analyses and syntheses of sustainability aspects related to production economic problems in the primary and secondary stages of the food supply chain.
Examination Formats and Requirements for Passing the Course
Passed exam. Passed oral and written presentation of project work. Passed participation in compulsory components.
Responsible Department/Equivalent
Department of Economics
Supplementary information
Included in program
- Agriculture and Business Management
- Agriculture and Economics
- Agricultural, Food and Environmental Policy Analysis (AFEPA) - Master's Programme
- Agricultural Economics and Management - Master's Programme
- Agriculture Programme - Economics and Management
- Forest Science - Master's Programme
- Environmental Economics and Management - Master's Programme
- Agricultural Science with a Specialisation in Economics and Business Administration
Module set
| Title | Credits | Code |
|---|---|---|
| Written exam | 10.0 | 0102 |
| Project assignment | 5.0 | 0103 |
The Course Replaces
FÖ0456, FÖ0362
Other 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.