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Historically, technological innovations and advancements in farming practices have been key factors in driving agricultural farm productivity and profitability. However, the agricultural industry in Australia, and globally, is facing a range of challenges. Coupled with this is an increasing demand for agriculture products from the world’s growing population. To meet these challenges, novel and integrated approaches are required to increase agricultural productivity and profitability. Increasing agricultural productivity and profitability into the future will require the integration of technological advancements and climate-smart agricultural principles with knowledge and skills of finance, business and economics. More importantly, new business models are required to attract investment in infrastructure and agri-innovation, which will in turn drive the commercialisation of research and development.

This course provides students with knowledge of finance, economics and business management principles that relate to agricultural markets and associated decision-making mechanisms. Initially the course focuses on the concepts of markets, including market structures, competitive markets and the market for agricultural products. Students will then learn about value chains and develop essential business skills required to understand the cost of production and profit maximisation strategies. Finally, techniques to construct and appraise capital budgeting for strategic investment decision-making under risk and uncertainty, and an overview of climate smart agriculture are investigated, all of which will be illustrated by real-world examples, issues and case studies.