First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Agricultural Sciences and Veterinary Medicine
AGRICULTURAL SCIENCE AND TECHNOLOGY
Course unit
AGRICULTURAL ECONOMICS
AVP7078077, A.A. 2019/20

Information concerning the students who enrolled in A.Y. 2017/18

Information on the course unit
Degree course First cycle degree in
AGRICULTURAL SCIENCE AND TECHNOLOGY
AG0056, Degree course structure A.Y. 2017/18, A.Y. 2019/20
N0
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Number of ECTS credits allocated 8.0
Type of assessment Mark
Course unit English denomination AGRICULTURAL ECONOMICS
Website of the academic structure http://www.agrariamedicinaveterinaria.unipd.it/
Department of reference Department of Agronomy, Food, Natural Resources, Animals and the Environment
E-Learning website https://elearning.unipd.it/scuolaamv/course/view.php?idnumber=2019-AG0056-000ZZ-2017-AVP7078077-N0
Mandatory attendance No
Language of instruction Italian
Branch LEGNARO (PD)
Single Course unit The Course unit can be attended under the option Single Course unit attendance
Optional Course unit The Course unit can be chosen as Optional Course unit

Lecturers
Teacher in charge LUCA ROSSETTO AGR/01

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Educational activities in elective or integrative disciplines AGR/01 Rural economy and evaluation 8.0

Course unit organization
Period First semester
Year 3rd Year
Teaching method frontal

Type of hours Credits Teaching
hours
Hours of
Individual study
Shifts
Practice 2.0 16 34.0 No turn
Lecture 6.0 48 102.0 No turn

Calendar
Start of activities 30/09/2019
End of activities 18/01/2020
Show course schedule 2019/20 Reg.2017 course timetable

Examination board
Board From To Members of the board
1 Commissione a.a. 2019/20 01/12/2019 30/11/2020 ROSSETTO LUCA (Presidente)
VECCHIATO DANIEL (Membro Effettivo)
BOATTO VASCO LADISLAO (Supplente)
DEFRANCESCO EDI (Supplente)
GALLETTO LUIGI (Supplente)
TRESTINI SAMUELE (Supplente)

Syllabus
Prerequisites: Basci microeconomics
Target skills and knowledge: Introduce students will be introduced to farm management and investments in agriculture.
The study of farm management aims at giving insights about the balance sheet, cost analysis and profitability of the farm as well as cost-benefits of production activities. The investment course illustrates the process and techniques (business plan) for evaluating investments.
The educational approach is aimed at giving students knowledge to understand the control and management systems employed by farms, to learn the conceptual scheme to analyze and to plan investments as well as to understand the tools to increase the value of agricultural products.

Introduce students to the issues of the agricultural company and investments in agriculture. The study of the farm aims to acquire knowledge on the management of agricultural enterprises, on their profitability, on the financial balance and on the convenience of production activities. The investment course illustrates key aspects of decision making and investment analysis techniques (business plan).

The student will acquire the following skills:
Ability to draw up the balance sheet of a farm
Ability to measure the profitability of the farm as a whole and the profitability of agricultural productions
Ability to calculate costs and to formulate prices
Ability to evaluate the benefits and costs of investments
Examination methods: Written examinations: semi-open questions (True/False questions)
Assessment criteria: Students are basically assessed through the following criteria: i) skills for economic reasoning; ii) the comprehension and awareness of the addressed topics (kahoot after each ECTS and written examination at the of the course); iii) the ability to apply methodologies, learnt during the class, to the real world (exercises).
Course unit contents: 1st ECTS. Overview of business economics. Company and enterprise. Role of the entrepreneur. Objectives and economic goals. Type of legal companies and business risk. Farms and farm enterprises. Agricultural entrepreneur and direct farmer. Structure and organization of farms. Workers in agriculture. Young and first settlement.
2nd ECTS: Introduction to the farm balance sheet. Classification of inputs. Land capital. The agrarian capital: stock and cash flow. Work: workers and self-employment. Types of farms. Partial enterprises and the soccida. The part-time. Destructuring and sub-contracting. The Farm Accountancy Data Network (FADN).
3rd ECTS: Basics of financial mathematics. Historical background. Simple interest and compound interest. The annuities. Reintegration and depreciation. Finance (outline) and credit in agriculture. The bank interest rate is subsidized one.
4th ECTS: The farm balance sheet. Differences between the statutory financial statements and the farm balance sheet. Writing the financial statement of a farm. Evaluating the economic results: the balance sheet equation. Fixing the farm gross output and the gross output of a breeding farm. Production costs. The differential elements of the financial statements.
5th ECTS: Taxes and farm obligations. Taxes, fees and contributions. Direct taxes: Irpef, Ires, Irap, Imu. Indirect taxes: VAT. VAT regimes in agriculture. Tax obligations. Open a business in agriculture. Notes on the company file and on the country notebook. Cross-compliance. Notes on safety in agriculture. State aid and de minimis regime in agriculture. Notes on the CAP. Outlook on agricultural risk and insurance.
6th ECTS: Economic applications of the farm balance sheet 1: the cost of production. Direct and indirect/common costs. The attribution of common costs. Cost driver. Fixed costs and variable costs. Crop accounts and production techniques. The costs of production for a breeding farm. The process of fixing the price. Prices and supply chains. Flexible and sticky prices. Price transmission and inflation. Break-even point analysis.
7th ECTS: Economic applications of the farm balance sheet 2: processing value and mechanization economy. Added value of the agri-food products. The processing value for grapes and for processed agricultural products. The evaluation of agricultural machinery: operating costs, choosing purchase vs. hiring, choosing new vs. used machineries.
8th ECTS: Analysis of farm investments. Investments in a farm. Investment decisions: expected return, forecast risk, time horizon, cash flow and starting investment. Investment assessment techniques: traditional, financial, other capital budgeting criteria: payback period, net present value and internal rate of return
Planned learning activities and teaching methods: Students are basically assessed through the following criteria: i) skills for economic reasoning; ii) the comprehension and awareness of the addressed topics (written examination); iii) the ability to apply methodologies, learnt during the class, to the real world (exercises)
Additional notes about suggested reading: Classroom lectures available on moodle platform

Books
Favaretti G. (2000). Fondamenti di economia agraria, Libreria Progetto, pagg 313.
Gallerani V., Viaggi D., Zanni G. (2011). Manuale di estimo McGraw-Hill Education; 2 edizione. Pagg. 400.
Textbooks (and optional supplementary readings)
  • Favaretti Giorgio, Fondamenti di economia agraria. Padova: Libreria Progetto, 2000. Cerca nel catalogo
  • Gallerani V., Viaggi D., Zanni G., Manuale di estimo. --: McGraw-Hill Education, 2011. Cerca nel catalogo
  • Merlo M., Elementi di economia ed estimo forestale-ambientale. --: Patron, 1992. Cerca nel catalogo

Innovative teaching methods: Teaching and learning strategies
  • Lecturing
  • Case study
  • Story telling
  • Problem solving
  • Video shooting made by the teacher/the students
  • Use of online videos
  • Loading of files and pages (web pages, Moodle, ...)

Innovative teaching methods: Software or applications used
  • Moodle (files, quizzes, workshops, ...)
  • One Note (digital ink)
  • Kaltura (desktop video shooting, file loading on MyMedia Unipd)

Sustainable Development Goals (SDGs)
No Poverty Zero Hunger Decent Work and Economic Growth Industry, Innovation and Infrastructure Responsible Consumption and Production Life on Land