NORTH CAROLINA A&T STATE UNIVERSITY
DEPT. OF AGRICULTURAL ECONOMICS AND RURAL SOCIOLOGY
Instructor: Mr. John Paul Owens
Email: owensj@ncat.edu Office: 154 Carver HallTelephone (336) 334-7901
Office Hours: 10 -11:59 a.m. MWF; 1 - 5:00 TTh or by appointment
Meeting Time: 10:00 - 11:20 a.m. Tues., Thurs.
Meeting Place: 168 Carver Hall
Text: Kay, Donald and Edwards, William, Farm Management, McGraw-Hill, 1994.
Course Objective: The objective of this course is to make students familiar with management decision-making techniques. In addition to others, concepts and principles from economics, accounting and finance will be used. Issues that deal with the organization, operation and analysis of farm business enterprises will be addressed.
Grading: Grades will be assigned as follows:
Exam 1 20%
Exam 2 25%
Class Project/
Exercises 25%
Final Exam 30%
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TOTAL 100%
CLASS SCHEDULE
August 18-September 3, 1998
Chapter 1 - Management
What is management and what do managers do? What are goals in the management process?
Chapter 5 - Economic Principals
Production functions. TPP, MVP, MIC, MPP.
Chapter 6 - Choosing input and output Combinations
MR, MC, TR
Chapter 7 - Cost Concepts
What is optimum input and output? What is the concept of marginalism and production functions? Fixed Costs vs Variable Costs
Chapter 10 - Whole Farm Budgeting; Linear Programming
September 8-10th Linear Programming Chapter 12 - Forms of Farm Business Organization
September 15th Visit Farm City Day at Greensboro Coliseum (on your own)
September 17th Chapter 11 - Cash Flow Budgeting
September 22nd Visit NC A&T Farm (on your own)
September 24th
Chapter 2 - Acquiring and Organizing Management Information
Chapter 3 - The Balance Sheet and its Analysis
September 29th Chapter 4 - The Income Statement and its Analysis
October 1 - Examination I
October 6th Chapter 8 - Enterprise Budgeting
October 8th Chapter 9 - Partial Budgeting
October 13th FALL BREAK
October 15th Farm Management Simulator Manual
October 20th Simulator Laboratory ( Last Day to Drop without Grade Evaluation)
October 22nd Simulator Laboratory
October 27th Field Trip Cooperative Extension Service
October 29th Speaker - Farm Credit Service
November 3rd Chapter 13 - Managing Risk/Chapter 14 - Managing Income Taxes
November 5th Speaker - USDA - Farm Service
November 10th Chapter 15 - Investment Analysis
November 12th Chapter 15 - Investment Analysis Simulator Projects Due
November 17th Forsyth County Extension
November 19th Chapter 17 - Credit and the Use of Credit
November 24th Field Trip Greensboro Tractor/Southern States
November 26th Thanksgiving Holidays
December 1st Chapter 16 - Business Analysis
December 3rd Chapters 18-20 Land, Labor & Machinery Management Last Class