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Agribusiness Operations Analysis
AGB OPERATIONS
CLASS CODE: AGBUS 420 CREDITS:  3 FEE:  $20.00
DIVISION: AGRICULTURAL AND LIFE SCIENCES
DEPARTMENT: AGRICULTURE BUSINESS SCIENCE & TECHNOLOGY
GENERAL EDUCATION: This course does not fulfill a General Education requirement.

CATALOG DESCRIPTION: Principles and procedures in the analysis and research of agricultural business operations.
DESCRIPTION: Principles and procedures in agricultural business operations analysis and research. Concepts and principles applied to the management function of decision making. Covers decision theory, mathematical programming, and introduction to econometrics and problem solving models. Production and financial data analysis, resource use optimization, and operation expansion or contraction.
TOPICS: * The two approaches to decision making: Scientific Decision theory and Managerial decision making.
* The different environments of decision making: Risk, and Uncertainty.
* Ability to analyze decisions with alternative methods of analysis such as: payoff tables, decision trees, computerized programs and statistical measurement.
* The process of developing analytical models used in the decision making process.
* Basic concepts of econometrics and it's application in agribusiness models.
* Develop and analyze different statistical models related to agribusiness such as production and demand.
* Mathematical programming models that will aid in determining: optimal production to maximize resource usage and profits. Optimal transportation routes to minimize costs.


OBJECTIVES:
REQUIREMENTS: To acquaint the student with the scientific and managerial decision making process of agribusiness firms. The student will utilize previously learned concepts of economics, mathematics, and statistics in practical analysis of agribusiness firms. This involves the conceptualization of business decision problems in terms of an appropriate mathematical or statistical mode.
PREREQUISITES: Senior standing, a statistics course, or consent of instructor.
OTHER:
EFFECTIVE DATE: August 2003