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Strategic Planning and Budgeting in Farm Management - MSc lecture

Delve into the economics of farm enterprises at the MSc level with a focus on planning structures, partial budgeting, and innovative approaches. Explore key concepts such as substitution budgeting, marginal returns, and break-even budgeting.

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Strategic Planning and Budgeting in Farm Management - MSc lecture

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  1. Economics of Farm Enterprises II.(Farm Management II.) MSc level Lecture 8 Structure of Planning, Partial Budgeting

  2. Partial budgeting • Background to planning • Brief history • Value and limitations • Use of partial budgets

  3. Substitution Partial Budget

  4. Substitution Partial Budget/2

  5. Marginal Returns Innovation Budget

  6. Innovation Budget /2 • Average investment in pigs • Buildings

  7. Innovation Budget /3 • Average investment in feed • Average investment in miscellaneous costs • Summary of average investments • Interest at 16% per annum

  8. Expansion / Contraction Partial Budget

  9. Expansion / Contraction Partial Budget /2 • Average investment in variable costs

  10. Change in Use of Feed

  11. Break-even Budgeting

  12. Example Questions: • Extra annual fixed costs of ownership • Extra variable costs per hectare • Break-even yield

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