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Professor David Pannell, BSc(Agric), BEc, PhD

Sound economic thinking is crucial for farmers because they depend on good economic decision making to survive. Governments depend on economic information to make good policy decisions on behalf of the community. This course will help you to contribute to better decision making by farmers, or by agencies servicing agriculture, and it will help you to understand why farmers respond to policies and economic opportunities in the ways they do.

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Sound economic thinking is crucial for farmers because they depend on good economic decision making to survive. Governments depend on economic information to make good policy decisions on behalf of the community. This course will help you to contribute to better decision making by farmers, or by agencies servicing agriculture, and it will help you to understand why farmers respond to policies and economic opportunities in the ways they do.

You can use this course to improve your skills and knowledge and to assess whether this is a subject that you'd like to study further. The course includes high-quality video lectures, interviews with experts, demonstrations of how to build economic models in spreadsheets, practice quizzes, and a range of recommended readings and optional readings. Assessment is by quizzes and a final exam.

The key economic principles that we’ll learn about can help us understand changes that have occurred in agriculture, and support improved decision making about things like agricultural production methods, agricultural input levels, resource conservation, and the balance between agricultural production and its environmental impacts.

There are literally thousands of agricultural economists around the world who work on these issues, so there is a wealth of knowledge to draw on for the course.

Watch a brief video about our course here: https://youtu.be/Y8OGswUXx48

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What's inside

Syllabus

Agricultural production and prices, and agriculture’s reliance on natural resources
Week 1 provides a history of agricultural production and prices, an examination into the reasons behind changes in production and prices, and discussions of the 2007 global food crisis and agriculture’s usage of resources.
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what should give you pause
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Provides a foundation in economic principles for agricultural decision-making and policy analysis
Taught by a renowned agricultural economist, Professor David Pannell, who is recognized for his work in agricultural economics
Offers a comprehensive overview of agricultural economics, covering production, prices, natural resources, environmental challenges, inputs, land conservation, and government policies
Emphasizes practical applications, with demonstrations of spreadsheet modeling and real-world examples
Provides assessment through quizzes and a final exam, ensuring accountability and learning reinforcement
Does not require extensive prerequisites, making it accessible to learners with a basic understanding of economics

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Reviews summary

Agriculture economics overview

According to students, the Agriculture, Economics and Nature course offers a comprehensive introduction to the field, providing a solid grasp of key concepts at the intersection of agriculture, economics, and the environment. Learners found the spreadsheet demonstrations particularly valuable for understanding economic models. While the course structure was generally logical, some reviewers noted variance in pace and depth across modules. Be aware that learners say the assessments are quite challenging, testing understanding rigorously and sometimes requiring knowledge beyond the core lectures. A background in basic economics is helpful, as those without may find the initial concepts demanding. Overall, it serves as a great starting point for exploring this subject, although some felt certain topics could benefit from more detail.
Background in basic economics is helpful.
"While not explicitly stated as a hard prerequisite, having some prior knowledge of basic economics really helped me keep up."
"Learners without a background in economics might find the initial concepts a bit steep."
"I had a little economics background, which made the pace manageable."
Demonstrations aid understanding of models.
"The spreadsheet demonstrations were particularly valuable for seeing how the economic models work in practice."
"Seeing the models built step-by-step helped clarify complex ideas."
"I appreciated the practical examples using spreadsheets, though sometimes needed to rewatch."
Provides a good overview of the subject.
"This course offered a solid introduction to the key concepts."
"I felt I got a good grasp of the interconnections between agriculture, economics, and the environment."
"It's a great starting point for someone new to this specific area of economics."
Some topics lack depth, others feel rushed.
"Some weeks felt a bit too introductory, while others jumped into complex topics too quickly."
"Could benefit from more depth on certain economic models and their application."
"I felt the course covered a lot of ground but sometimes superficially."
Quizzes and exams require careful study.
"The quizzes and final exam were harder than I expected and required really digging into the material."
"Found the assessments quite challenging, sometimes requiring knowledge beyond the core lectures."
"Be prepared for rigorous assessments; they test understanding deeply."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Agriculture, Economics and Nature with these activities:
Review the basics of microeconomics
Reviewing the basics of microeconomics will help you understand the economic principles that will be discussed in this course.
Browse courses on Microeconomics
Show steps
  • Read through your old microeconomics textbook or notes.
  • Take practice quizzes or exams to test your understanding.
  • Watch online videos or tutorials on microeconomic concepts.
Learn how to use spreadsheets to build economic models
Building economic models in spreadsheets will help you apply the economic principles you learn in this course to real-world situations.
Browse courses on Economic Modeling
Show steps
  • Find online tutorials on how to use spreadsheets to build economic models.
  • Follow the tutorials and build your own simple economic model.
  • Test your model with different data to see how it performs.
Practice solving economic problems
Practice solving economic problems will help you develop your analytical skills and apply the economic principles you learn in this course.
Browse courses on Economics
Show steps
  • Find practice problems online or in textbooks.
  • Solve the problems using the economic principles you have learned.
  • Check your answers against the solutions provided.
One other activity
Expand to see all activities and additional details
Show all four activities
Write a blog post or article on an agricultural economic topic
Writing a blog post or article on an agricultural economic topic will help you synthesize your knowledge of the subject and improve your communication skills.
Browse courses on Agricultural Economics
Show steps
  • Choose an agricultural economic topic that you are interested in.
  • Research the topic and gather information from credible sources.
  • Write a clear and concise blog post or article that explains the topic in a way that is easy to understand.
  • Publish your blog post or article online.

Career center

Learners who complete Agriculture, Economics and Nature will develop knowledge and skills that may be useful to these careers:
Agricultural Economist
Agricultural Economists apply economic principles to the agriculture industry. They analyze data, develop models, and provide recommendations on how to improve the efficiency and sustainability of agricultural systems. This course would be very helpful for Agricultural Economists because it provides a comprehensive overview of the economic principles that affect agriculture. This knowledge can be used to develop better policies and programs that support the agriculture industry.
Farm Manager
Farm Managers oversee the day-to-day operations of farms. They make decisions about what crops to plant, how to market products, and how to manage finances. This course would be very helpful for Farm Managers because it provides a strong foundation in the economic principles that affect the agriculture industry. This knowledge can be used to make better decisions about how to run a farm, which can lead to increased productivity and profitability.
Economist
Economists study the production, distribution, and consumption of goods and services. They work in a variety of fields, including government, business, and academia. This course would be helpful for Economists because it provides a comprehensive overview of the economic principles that affect agriculture. This knowledge can be used to develop better economic policies and programs that support the agriculture industry.
Policy Analyst
Policy Analysts develop and evaluate public policies. They work with government agencies, businesses, and community groups to identify problems and develop solutions. This course would be helpful for Policy Analysts because it provides a strong foundation in the economic principles that affect public policy. This knowledge can be used to develop better policies that address the needs of the public.
Research Scientist
Research Scientists conduct experiments and analyze data to develop new knowledge. They work in a variety of fields, including agriculture, environmental science, and economics. This course would be helpful for Research Scientists because it provides a strong foundation in the economic principles that affect research. This knowledge can be used to design more effective research projects and to communicate research findings to policymakers and the public.
Sustainability Consultant
Sustainability Consultants help organizations to reduce their environmental impact and improve their social and economic performance. They work with a variety of stakeholders, including businesses, governments, and community groups. This course would be helpful for Sustainability Consultants because it provides a strong foundation in the economic principles that affect sustainability. This knowledge can be used to develop more effective sustainability strategies and programs.
Water Resource Manager
Water Resource Managers oversee the planning, development, and management of water resources. They work with a variety of stakeholders, including government agencies, businesses, and community groups. This course would be helpful for Water Resource Managers because it provides a strong foundation in the economic principles that affect water resources. This knowledge can be used to develop more effective water management policies and programs.
Wildlife Biologist
Wildlife Biologists study the behavior, ecology, and conservation of wildlife. They work with a variety of stakeholders, including government agencies, businesses, and community groups. This course would be helpful for Wildlife Biologists because it provides a strong foundation in the economic principles that affect wildlife conservation. This knowledge can be used to develop more effective wildlife conservation policies and programs.
Agricultural and Food Science Technician
Agricultural and Food Science Technicians conduct experiments, analyze data, and develop new products and processes related to agriculture and food production. This course would be helpful for Agricultural and Food Science Technicians because it provides a strong foundation in the economic principles that affect the agriculture industry. This knowledge can be used to develop more efficient and sustainable agricultural practices, which can lead to increased productivity and profitability.
Environmental Scientist
Environmental Scientists study the environment and develop solutions to environmental problems. They work with a variety of stakeholders, including government agencies, businesses, and community groups. This course would be helpful for Environmental Scientists because it provides a strong foundation in the economic principles that affect the environment. This knowledge can be used to develop more effective environmental policies and programs.
Natural Resource Economist
Natural Resource Economists study the economic value of natural resources, such as water, land, and minerals. They develop policies and programs to ensure that these resources are used sustainably. This course would be helpful for Natural Resource Economists because it provides a strong foundation in the economic principles that affect the use of natural resources. This knowledge can be used to develop better policies and programs that protect the environment and promote economic development.
Business Analyst
Business Analysts analyze business processes and develop solutions to improve efficiency and profitability. They work with a variety of stakeholders, including business leaders, employees, and customers. This course may be helpful for Business Analysts because it provides a strong foundation in the economic principles that affect business. This knowledge can be used to develop better business strategies and solutions.
Data Scientist
Data Scientists use data to develop models and insights that can be used to improve decision-making. They work in a variety of fields, including business, healthcare, and government. This course may be helpful for Data Scientists because it provides a strong foundation in the economic principles that affect data analysis. This knowledge can be used to develop more accurate and reliable models and insights.
Actuary
Actuaries use mathematical and statistical methods to assess risk and uncertainty. They work in a variety of fields, including insurance, finance, and healthcare. This course may be helpful for Actuaries because it provides a strong foundation in the economic principles that affect risk and uncertainty. This knowledge can be used to develop more accurate and reliable risk assessments.
Financial Analyst
Financial Analysts analyze financial data to make investment recommendations. They work with a variety of stakeholders, including individual investors, institutional investors, and corporations. This course may be helpful for Financial Analysts because it provides a strong foundation in the economic principles that affect financial markets. This knowledge can be used to make more informed investment decisions.

Reading list

We've selected six books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Agriculture, Economics and Nature.
This textbook provides a comprehensive overview of the economics of land degradation, covering topics such as the causes and consequences of land degradation, and the economic costs and benefits of land degradation mitigation and adaptation. It valuable resource for students and practitioners alike.
This classic textbook provides a comprehensive overview of the economics of agricultural production, covering topics such as land use, labor, and capital. It valuable resource for students and practitioners alike.
This textbook provides a comprehensive overview of agricultural production economics, covering topics such as land use, labor, and capital. It valuable resource for students and practitioners alike.
This textbook provides a comprehensive overview of environmental and natural resource economics, covering topics such as pollution, climate change, and water scarcity. It valuable resource for students and practitioners alike.
Provides a comprehensive overview of the economics of climate change, covering topics such as the causes and consequences of climate change, and the economic costs and benefits of climate change mitigation and adaptation. It valuable resource for students and practitioners alike.
Provides a comprehensive overview of the history and activities of the Food and Agriculture Organization of the United Nations (FAO). It valuable resource for students and practitioners alike.

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