Ag
Econ 110N 
Ag
Econ 110N 
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This course is designed as an introduction to
basic farm management principles
for non agricultural business majors. Most of the principles covered in Ag
Ec 110, Principles of Farm Management are covered here, but a background
in economic theory is not assumed necessary. Ag Business majors cannot
take this course. Detailed course objective may be reviewed in
an outline of course objectives available for
viewing and printing with Microsoft Word. A week-by-week course time line
should also be reviewed by downloading the
course schedule
Basic economic principles are covered in the course, mainly relating to the law of diminishing returns, the equimarginal principle, marginal rate of substitution, derivation of costs from production functions and other basic economic principles. Mainly, the course is oriented towards a manager's use of specific financial instruments for purposes of record keeping, reporting, economic planning and tax management.
This course is computer intensive. Computer proficiencies are necessary.
The necessary
detailed proficiencies expectations are
available for viewing and printing. Some of the problems are quite complex
but emphasis is placed on the economic meaning of results and "what-if"
situations rather than programming. Lack of familiarity with Excel can
cause inadvertent damage to a spreadsheet exercise. Emphasis in most
assignments is placed on data input and interpretation of changes in key
variables rather than spreadsheet construction. Students with computer
skills and an interest in Farm Management are welcome to modify templates
for their own use in business or other classes
The course is a lab-lecture combination. A lab exercise is assigned every week. Some assignments may be bi-weekly, depending on their detail and intensity. The approximate release date for each assignment is listed in the download description. The actual release date for assignments will be announced in class. Due dates for each of the assignments are listed in the problem documentation.
One mid-term and one or two announced quizzes are part of the course regimen. Two computer based quizzes and one-midterm will be given during the course of the semester. Approximate release dates and availability are noted below. A previous semester's midterm is provided below as a study guide for the mid-term
Download Quiz1.doc 10/9 (14.8 KB)
Download Quiz2.doc 11/20 (49.1 KB)
Download Exam1rev.doc for Midterm 10/4 (49.1
KB)
Download Practice Midterm.doc 10/9 (49.1 KB)
Download Exam1110N.doc 10/22 (49.1 KB)
Download FinalRev110N.doc for Final 12/3 (30.1
KB)
Class notes will be made available from time-to-time. Please check this section of the web page periodically.
The first set of notes deals with the important
production economics principles we use in
farm management. Our following series examines
cash flow and enterprise budgeting. The next
set deals with issues within enterprise budgeting, particularly the
calculation of
fixed costs.
The last set of notes in the budgeting series examines another task of
the farm manager,
analyzing the balance sheet. It is
complementary with our use of the intgegrated budgeting module.
The series of lectures relating to specific management tasks commences
with two lectures on
risk management.
The series of lectures relating to specific management tasks continues
with a lecture on
labor and project management.
The series continues with a lecture on
machine management.
Consideration of whole farm analysis begins with three lectures on the
basics of whole farm budgeting using
linear programming.
The course finishes with a three lectures on
financial planning and firm growth.
Documentation, approximate release dates and assignments are listed below. Preceding each is a brief description. Complete description of the assignment is available in the documentation. Best Option: use the "Save this program to disk" option if prompted and save to a course folder you have created on your hard disk rather than opening from the site. This provides a permanent copy and you can then open from your appropriate folder using either Word or Excel. If it opens directly, then you should save to your hard disk using the "File:Save" option from the program menu
The first document required by lenders. Financial interpretation of a basic cash flow program.
Download 1stflow.doc 8/29 (14.8 KB)
Download 1stflow.xls 8/29 (49.1 KB)
The enterprise budget. Economic interpretation of a basic enterprise budget as it is affected by changes in key inputs and prices. Exploring the idea of how to evaluate economic feasibility of profit centers on the farm or ranch
Download 1st_bud.doc 9/10/02(14 KB)
Download 1st_bud.xls 9/10/02 (21 KB)
The enterprise budget integrated with cash flow. Financial interpretation of a basic cash flow program as it is affected by changes in the enterprise budget. This exercise integrates cash flow budgeting with enterprise budgeting and allows the evaluation of different effects of major assets on cash flow and production (enterprise) costs
Download 2ndflow.doc 9/5 (14.8 KB)
Download 2ndflow.xls 9/5 (49.1 KB)
Enterprise-cash flow budgets and the financial statement. Financial interpretation of a financial statement as it is affected by changes in enterprise costs and cash flow requirements. This exercise integrates principles of cash flow budgeting with those of enterprise budgeting and allows the evaluation of different effects of major assets on the financial statement. Interpretation of ratios
Download 3rdflow.doc 9/20 (17.9 KB)
Download 3rdflow.xls 9/20 (128.5 KB)
Budgeting economic feasibility of enterprise changes, input-input, output-input, output-output substitutions incorporating fixed cost allocations
Download Partial.doc 9/26 ( KB)
Download Partial.xls 9/26 (20.7 KB)
Evaluating long term financial feasibility using net present value analysis. Part of the time value of money segment
Download Vine.doc 10/04 (20 KB)
Download Vine.xls 10/4 (120.8 KB)
Elements of risk management through the use of futures markets. Application of hedging to a farm situation
Download Risk.doc 10/4 (22 KB)
Download Hedge.xls 10/4 (32.3 KB)
Evaluating field equipment cost allocation by the hours of use method, using your machine equipment complement developed as part of the 2ndflow assignment
Download Machcost.doc 10/9 ( 21 KB)
Download Machcost.xls 10/9 (304 KB)
Evaluating labor acquisition-allocation and project management problems
Download Bildbarn.xls 10/23 (74.2 KB)
Download Bildbarn.doc 10/23 (53 KB)
Evaluating optimal farm organization with fixed resource constraints: introduction to linear programming
Download Machtime.xls 11/8 (21 KB)
Download Cornsoy.doc 11/20 (33.3 KB)
Download Cornsoy.xls 11/20 (17.9 KB)
Evaluating optimal farm organization with fixed resource constraints: continuing the linear programming section. "Guessing Solutions"
Download Farmprof.doc 11/13 (21 KB)
Download Farmprof.xls 11/13 (66 KB)
Evaluating optimal farm organization with fixed resource constraints: continuing the linear programming section, a more complex farm problem. Interpreting the dual and shadow prices
Download Watprof.doc 11/19 (34 KB)
Download Watprof.xls 11/19 (34 KB)
Mechanisms for entering and exiting agriculture: acquiring capital, estate planning
Download Critmass.doc 11/21 (41 KB)
Ag Ec 160
Ag Ec 76
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E-Mail jamesco@csufresno.edu