Farm Management

lbira2104a  2018-2019  Louvain-la-Neuve

Farm Management
3 credits
25.0 h + 7.5 h
Q2
Teacher(s)
Bouquiaux Jean-Marie; Gaspart Frédéric coordinator; Georges Benoît;
Language
French
Prerequisites
General skills for a bio-engineering bachelor, animal and vegetal productions, introductory management, micro-economics and introduction to game theory
Main themes
- Part 1 After an introduction on the agricultural production economy, the role of major production factors in the efficient management of agricultural firms is characterized. The mains tools for analysis and decision making are explained and used in practical exercises. The main agricultural and food branches are outlined. The development of the agricultural sector in Belgium and in Europe is analysed.
- Part 2 The course outlines, explains and compares various decision problems and decision-making tools within the unifying framework of game theory. It distinguishes (and shows the complementarities of) statistics and economic analysis. Complex decisions under uncertainty in situations with several interacting decision-makers are illustrated with relevant examples.
Content
Part 1)
1.     Present discounted value
2.     The main agricultural production factors
3.     Decision making tools : global and partial budgets, linear programming, program planning, cluster and factorial analysis, risk analysis
4.     The main agricultural branches (including agro-food branches)
5.     Transversal issues : taxes, prices, energy costs, pollutions, animal feed, organic production,...
(Part 2)
1. Elements of games in developped forms (including VNM utility)
2. Non-cooperative bargaining (the Rubinstein model and variants)
3. Agency (1) : moral hazard and boiling-in-oil contracts
4. Agency (2) : screening vs statistical discrimination
5. Agency (3) : signaling
Teaching methods
Classes and homeworks
Evaluation methods
Written exams, mainly exercises for both parts
Other information
This course can be given in English.
Online resources
Moodle
Faculty or entity
AGRO


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Master [120] in Agriculture and Bio-industries