Agricultural management economics: activity analysis and decision making
In this book the processes of agricultural production and their management are described in terms of activity analysis, since this permits integration of theory with practical evaluations. Analytical tools developed in the book involve the construction of spreadsheet models, and readers are able to construct their own PC spreadsheets from the book's examples and case studies. Economic principles are presented that will assist in improving the design of agricultural processes and technologies, in guiding their appropriate combination in a business setting, and with the making of decisions through time and in recognition of noncertainty. Activity analysis models that allow the design and combination of agricultural activities to be optimized are also discussed. The book is aimed at advanced students of agricultural economics, business and management.
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ACTIVITY ANALYSIS AND THE PROCESS
A SPREADSHEET FRAMEWORK
ECONOMIC PRINCIPLES FOR ACTIVITY DESIGN
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activity analysis activity combination alternative bean borrowing BUDGET spreadsheet cabbage calculated cash balances cauliflower cell Chapter coefficients COEFFS spreadsheet column computed constraints consumption expenditures crates crop decision maker decision problem discounting efficient set equal equation estimated evaluated event ex-store example expected expected monetary values fertiliser Figure flow inputs forecast formulas fund inputs goal handweeding harvester income stream increase indicates indifference curve intertemporal Intertemporal choice isoquant Labour hours labour input land lettuce activity linear programming lottery manager manager's marginal product maximisation measure minimise non-certainty objective function opportunity cost optimum solution outcomes payoff present value probability distributions production activities production period production programme profitable pumpkin quarter 1 quarter random variable RESOURCES spreadsheet revenue risk aversion rotation specified spreadsheet model stochastic dominance stochastic programming supply Table tomato A activity tonnes per hectare total gross margin tractor services unit utility function yield zero