DR. PAUL D. MITCHELL418 TAYLOR HALL

608-265-6514PDMITCHELL@WISC.EDU

AAE 320: FARMING SYSTEMS MANAGEMENT

Departmental ContactsLinda Davis, 111 Taylor Hall, 262-9488, linda.davis@wisc.eduKathy Martin-Taylor, 429 Taylor Hall, 262-8966, kmartint@wisc.edu

COURSE HOMEPAGEHTTP://WWW.AAE.WISC.EDU/AAE320/MAIN.ASP

• No Textbook: Classic text is Kay, Edwards, and Duffy (2015), $223.15 on Amazon

• I will make various materials available in class and/or on the course homepage. I expect students to use/read these, which may include paying costs for printing materials freely available on the internet. Many useful farm management materials are available on the internet for free.

COURSE OBJECTIVE

• For students to understand basic economic principles and their application to the management of agricultural production systems and to gain an appreciation of the complexity of U.S. farming.

GRADING

• Grades calculated based on the following weights• In-Class Exams (2 x 25% each) 50%• Comprehensive Final Exam 25%• Problem Sets (8 during semester) 20%• Class Participation 5%

• Grading Scale 93 A88 and <

93AB

83 and < 88

B

78 and < 83

BC

70 and < 78

C

60 and < 70

D

< 60 F

EXAMS

• Two in-class exams and a comprehensive final• Announced at least 1 week in advance, likely

earlier• Developed from lecture, materials posted on the

class homepage and discussed in class, and problem sets• Expect questions to challenge your understanding

and use of managerial concepts and tools. • Previous exams and keys will be available on the

course homepage to aid your studies • Final Exam: Dec. 21 (Monday), 7:45 AM – 9:45 AM

• The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights protection for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the McBurney Resource Center, 1305 Linden Drive, 608-263-2741, (608) 263-6393 (TTY), or email FrontDesk@mcb.wisc.edu.

• Please communicate with me early if you have special needs so that I can accommodate your needs in order to enhance your learning experience. •  • Please communicate with me well

beforehand if you know you have a conflict with returning a class assignment on time or taking an examination at the scheduled time.

TOPICS COVERED IN AAE 320

• Introduction• Overview of Wisconsin Agriculture• Decision Making Overview

• Production Economics• Single Input Production Economics• Multiple Input Production Economics• Cost Economics• Flat Farm Economics

• EXAM #1 (About 1st week of October)

TOPICS COVERED IN AAE 320

• Farm Finance• Financial Analysis: Balance Sheets• Financial Analysis: Income Statement• Farm Decision Analysis

• Taxes, Business Arrangements and Farm Transfer• Federal Tax Overview• Tax Considerations for Farm Transfer• Beginning Business Arrangements• Business Arrangement Alternatives

• EXAM #2 (About 2nd week of November)

TOPICS COVERED IN AAE 320

• U.S. Farm Policy and Programs• Commodity Support Programs• Crop Insurance and Disaster Assistance

• Special Topics• Technological Change• Agricultural Sustainability

• FINAL EXAM (DEC. 21, 7:45 AM – 9:45 AM)

LET’S TALK ABOUT IT!

• 3-4 times we will have a discussion oriented class to talk about agricultural issues• Nitrogen and Crops• Insecticides• Dairy Farm Size

• 4 or so videos and readings with some questions and writing before class, then in class small and large group discussions• Goal: to develop an appreciation for the

complexity of US agriculture

SUMMARY

• Class Homepage is your textbook, get familiar with it; check it regularly• http://www.aae.wisc.edu/aae320/main.asp • Expect lots of work: a little writing,

problem sets, long exams), but it’s not rocket science• Communicate with me if real life

intervenes• Email is best: pdmitchell@wisc.edu