303299 (v.2) Agribusiness Economics and Policy 102

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Area:	Muresk Institute
Credits:	25.0
Contact Hours:	5.0
Lecture:	1 x 3 Hours Weekly
Tutorial:	1 x 2 Hours Weekly
Syllabus:	Exploration of the meaning of economics and the market conditions facing firms and government policy and the market including fiscal and monetary policy. Trade balance and employment policy, and agricultural policy and policy options.
Unit Outcomes:	Upon completion of this unit students will have - Gained understanding of the key concepts, ideas and methodology of economics. Identified the characteristics of, and differences between, the main market structures. Identified the main areas of market failure and possible government interventions. Developed an understanding of the flow of resources, foods and services in the economy, and the role of government and the financial sector on business cycles, including the scope and composition of government fiscal policy and its impact on the economy. Explained the functions of the Reserve Bank of Australia and the range of instruments of monetary policy available and the relationships between unemployment and inflation and the impact of government fiscal policy and monetary policies on the economy in terms of current macro-economic issues. Gained understanding of the impact of government fiscal and monetary policy options on the economy, and explained some of the current macro-economic issues. Identified the causes of farm price instability, and described the operation of commodity futures markets and discussed the aims of and methods used in government agricultural pricing policy. Described the marketing of selected agricultural or horticultural products.
Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.
Unit References:	No prescribed references
Unit Texts:	Melotte, Y. and Moore, R., (1995), Economics, Sydney, Prentice Hall. Campbell, K. and Fisher, B., (1991), Agricultural Marketing and Prices, 3rd ed, Melbourne, Longman.
Unit Assessment Breakdown:	Continuous Assessment 70%, Examinations 30%. This is by grade/mark assessment.
Year Location Period Internal Area External Central External 2004 Bentley Campus Semester 2 Y