Ag Econ 160 
Ag Econ 160 
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The central focus of this course in agricultural marketing is to provide agricultural business majors with a basic understanding of how managers make management decisions in agricultural markets. This managerial marketing approach is focused on how markets function, how prices are discovered and how buyers and sellers go about the business of discovering prices, dealing with risk and accessing and using economic information to make a variety of decisions varying from pricing products to locating new businesses and penetrating new markets. A background in economic theory is helpful, but non-majors will find the course useful. Please note: documentation included in the following section for the course is contained in self extracting ZIP files. Documentation for both sections is included and will be extracted to a directory on your hard disk. You need print only the document which applies to your section. Download the file and save to disk. Double click and files will be extracted to the folder created.
A 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. In addition, a
computerized exercise. in futures
trading is an integral part of the course. While instruction in the use of
futures ends after four to five weeks, understanding of how markets respond to
changes in economic policies, events, weather and other variables is gained by
continued participation in the exercise throughout the remainder of the
semester. Part of the computerized futures trading exercise requirement
involves the development of a report based on trading strategies, results and
experience. It is detailed in the computerized exercise documentation and is
due at the end of the semester.
About one-third of the course is spent in developing an understanding of how basic markets function, using the futures market as a case study. Another third of the course is spent in how to use fundamental analysis and relevant economic information to be used to price products in relevant markets. The last third of the course is spent developing basic theories of market location, market competition and of the legal environment within which the manager must function. The last third of the course considers managerial tools useful in penetrating new markets as well as how success may be measured. Computerized case studies are useful in this sense.
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
As lecture materisals are presented, they will be made available in
Power Point for viewing here. The first lecture deals with an
introduction to the study of marketing. The
second set of slides deals with an
introduction to the study of the futures market.
The third set of slides provides a basic understanding of
basic strategies in futures trading. All Power
Point slide series for the course will be posted here.
Students participate in a realistic, competitive, real world market
exercise by trading in futures during the semester. Each participant has a
margin account and trading strategies dictate growth or loss in the account.
Weekly reports are released by the account brokerage house and are published
here. The latest
TTh class weekly report is
published here. The reports are in an XLS format. The best availabe site for
downloading quotes is
Mann
Futures.
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. Quiz due dates are printed on the quizzes.
Download Quiz1601.doc
10/10 (20 KB)
Download Quiz1602.doc
11/20 (20 KB)
Download Exam160rev.doc for Midterm 10/7 (20.1
KB)
Download Practice
Midterm160.doc 10/7 (20.1 KB)
Download Exam1160.doc
10/22 (20.1 KB)
While the course is listed as a lecture course, in reality, it is a lab-lecture combination. A lab exercise is assigned almost 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.
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
Reading price and fundamental information from a DTN terminal.
Download DTN.doc 8/30 (35.8 KB)
Download Simpcht.xls 8/30
(94.2 KB)
Locating and retrieving futures, price and Exchange information from the Internet
Download Prob1net.doc 9/7
(13.3 KB)
Download Orderfrm.doc 9/7 (11.8 KB)
Using technical analysis for hedging and trading
Download Techprob.xls N/A in 2001 (26.1
KB)
An introduction to hedging the cost of production
Download Probhdg.doc 9/20 (14.8 KB)
Download Catlfeed.doc N/A in 2001 (25.1 KB)
Using economic information and data for short, intermediate and long term planning
Download Waobprob.doc 9/27
(36.3 KB)
Arbitraging markets and using Federal State Market News Service price data to facilitate market choices
Download Fmnsprob.doc 10/4 (15.8 KB)
Understanding farm programs influence on commodity price floors
Download Govprob.doc 10/11 (22 KB)
Miscellaneous analytic tools for estimating prices: Moving averages and Seasonal Indexes
Download Appindx.xls 10/18 (31 KB)
Basic fundamental analysis: Evaluating the balance sheet. Use of regression analysis for price estimation
Download Cornreg.doc 10/25 ( 21 KB)
Download Cornreg.xls 10/25 (47.6 KB)
Using traditional analysis in studying demand: Study of elasticities
Download Milkconsprob.doc 11/2 (12.8 KB)
Evaluating optimal plant location with market demand and supply constraints: linear programming
Download Diazdair.doc 11/13 (25 KB)
Download Diazdair.xls 11/13 (45 KB)
Penetrating markets with alternative sales strategies
Download Orilia.doc 11/27 (24.5 KB)
Download Orilia.xls 11/27 (41.5
KB)
Ag Ec 110N
Ag Ec 162
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E-Mail
jamesco@csufresno.edu