Sound economic thinking is crucial for farmers because they depend on good economic decision making to survive. Governments depend on economic information to make good policy decisions on behalf of the community. This course will help you to contribute to better decision making by farmers, or by agencies servicing agriculture, and it will help you to understand why farmers respond to policies and economic opportunities in the ways they do.
You can use this course to improve your skills and knowledge and to assess whether this is a subject that you'd like to study further. The course includes high-quality video lectures, interviews with experts, demonstrations of how to build economic models in spreadsheets, practice quizzes, and a range of recommended readings and optional readings. Assessment is by quizzes and a final exam.
The key economic principles that we’ll learn about can help us understand changes that have occurred in agriculture, and support improved decision making about things like agricultural production methods, agricultural input levels, resource conservation, and the balance between agricultural production and its environmental impacts.
There are literally thousands of agricultural economists around the world who work on these issues, so there is a wealth of knowledge to draw on for the course.
Watch a brief video about our course here: https://youtu.be/Y8OGswUXx48
Week 1 provides a history of agricultural production and prices, an examination into the reasons behind changes in production and prices, and discussions of the 2007 global food crisis and agriculture’s usage of resources.
What's included
11 videos9 readings1 assignment
Show info about module content
11 videos•Total 63 minutes
Video - Course introduction•6 minutes
Video - History of agricultural production and prices•3 minutes
Video - Agricultural products' supply•4 minutes
Video - Agricultural products' demand•7 minutes
Video - The 2007 food price crisis•12 minutes
Video - Food security•5 minutes
Video - Resource usage 1: Land and soils•4 minutes
Video - Resource usage 2: Water•4 minutes
Video - Resource usage 3: Nutrients•4 minutes
Video - Resource usage 4: Pesticides•4 minutes
Video - Interview - Kadambot Siddique, Institute of Agriculture, University of Western Australia•9 minutes
9 readings•Total 90 minutes
Optional Viewing - The Agricultural Revolution: Crash Course World History #1•10 minutes
Optional Reading - Economics Basics: Supply and Demand•10 minutes
Recommended Reading - Pannell Discussion 266: Supply and Demand: The Wool Crisis•10 minutes
Optional Reading - Pannell Discussions 230: Future climate change and wheat yields in Western Australia•10 minutes
Recommended Reading - Pannell Discussions 168: Telling farmers how to adapt to climate change•10 minutes
1 assignment•Total 30 minutes
Resource and environmental challenges facing agriculture•30 minutes
The economics of agricultural inputs
Module 3•2 hours to complete
Module details
Week 3 looks at the relationship between inputs and outputs, the optimal level of an input, the question of pollution from inputs, and flat payoff functions.
What's included
9 videos4 readings1 assignment
Show info about module content
9 videos•Total 56 minutes
Video - Fertiliser•5 minutes
Video - Fertiliser and Crop Yield•5 minutes
Video - Production functions•4 minutes
Video - Profit maximisation•7 minutes
Video - Building a spreadsheet to maximise profit•11 minutes
Video - Effects of price and yield changes on optimal fertiliser use•5 minutes
Video - Considering pollution in input decisions•7 minutes
Video - Flat payoff functions•6 minutes
Video - Interview - David Brown, Farmer, Burracoppin, Western Australia•6 minutes
4 readings•Total 40 minutes
Optional reading - world data on fertilizers•10 minutes
Week 4 focuses on evaluating land conservation practices, weighing benefits and costs correctly, non-economic factors, and provides an example in conservation agriculture.
What's included
9 videos6 readings1 assignment
Show info about module content
9 videos•Total 84 minutes
Video - Resource conservation in farming•7 minutes
Video - Benefits and costs of resource conservation over time•5 minutes
Video - Accounting for time•13 minutes
Video - Discounting•6 minutes
Video - Building a spreadsheet for discounting benefits and costs•10 minutes
Video - Case study: conservation agriculture•17 minutes
Video - Drivers of farmers’ decision-making•11 minutes
Video - Interview - Mike McFarlane, farmer, Doodlakine, Western Australia•9 minutes
Video - Interview - Greg Shea, WA Department of Agriculture and Food•7 minutes
6 readings•Total 60 minutes
Recommended Reading - Pannell Discussions 33: Time is money•10 minutes
Optional Reading - The farm-level economics of conservation agriculture for resource-poor farmers.•10 minutes
Recommended Reading - Adoption of conservation practices by rural landholders•10 minutes
Optional Reading - Pannell Discussions 203: Predicting adoption of new farming practices•10 minutes
Help with the calculations for Week 4 Quiz•10 minutes
1 assignment•Total 30 minutes
The economics of land conservation•30 minutes
The economics of agri-environmental projects
Module 5•3 hours to complete
Module details
Week 5 discusses the importance of extending economics beyond the farm gate, characteristics of agri-environmental projects, Benefit: Cost Analysis, and provides an example with Gippsland Lakes.
What's included
8 videos7 readings1 assignment
Show info about module content
8 videos•Total 54 minutes
Video - Environmental projects in agriculture•5 minutes
Video - Extending economics beyond the farm•4 minutes
Video - Characteristics of environmental projects•8 minutes
Video - Benefit: Cost Analysis•9 minutes
Video - Benefit: Cost Ratio•7 minutes
Video - Case study: The Gippsland Lakes•7 minutes
Video - A helpful tool: INFFER•4 minutes
Video - Interview - Marit Kragt, School of Agricultural and Resource Economics, University of Western Australia•10 minutes
7 readings•Total 70 minutes
Optional Viewing - A cleaner Baltic Sea by improved agricultural productivity•10 minutes
Optional Viewing - Positive benefits flow from agri-environment funding support in Scotland•10 minutes
Recommended Viewing - Intro to Cost-Benefit Analysis•10 minutes
Optional Reading - Simple Introduction to Cost-Benefit Analysis•10 minutes
Recommended Reading - When ranking environmental projects, mixing a little theory, logic and common sense leads to better outcomes•10 minutes
Optional Reading - INFFER (Investment Framework for Environmental Resources)•10 minutes
1 assignment•Total 30 minutes
The economics of agri-environmental projects•30 minutes
Government policies in agriculture
Module 6•2 hours to complete
Module details
Week 6 ties up the course through discussion of government policies that support agriculture, policies that protect the rural environment, policies with problems, and justifications for agricultural policy.
What's included
8 videos8 readings1 assignment
Show info about module content
8 videos•Total 50 minutes
Video - Government policies in agriculture•4 minutes
Video - Policies to support agricultural production•6 minutes
Video - Policies for environmental protection in agriculture•3 minutes
Video - Agricultural policy problems: Price support•9 minutes
Video - Agricultural policy problems: Biofuels•7 minutes
Video - Justifications for agricultural policy•9 minutes
Video - Course wrap-up•4 minutes
Video - Interview - Ross Kingwell, Australian Export Grains Innovation Centre•8 minutes
8 readings•Total 80 minutes
Optional Viewing - Fields of Gold: Lifting the Veil on Europe's Farm Subsidies•10 minutes
Further information on studying agricultural economics, natural resource economics or environmental economics at the University of Western Australia•10 minutes
1 assignment
Government policies in agriculture•0 minutes
Final Exam
Module 7•1 hour to complete
Module details
What's included
1 assignment
Show info about module content
1 assignment•Total 60 minutes
Final Exam•60 minutes
Instructor
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We asked all learners to give feedback on our instructors based on the quality of their teaching style.
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R
RP
5·
Reviewed on Jul 3, 2021
The whole course gave me economic insight of the agriculture. Also, prepared me to see the agriculture projects and products from the economic perspective's. I thoroughly enjoyed the sessions.
A
AL
5·
Reviewed on Jul 16, 2017
Great course, I learned a lot of new and interesting things. I wish I could go and continue my studies by going to UWA, maybe in the not-so-distant future :)
E
EG
5·
Reviewed on Mar 8, 2019
This course is highly informative for a beginner. The materials provided are so useful. I enjoyed the whole learning experience as an outsider from another field of knowledge.
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Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.