Agricultural Economics 5010 Farm Management Dr. Patricia A. Duffy with Dr. Greg Traxler

1. FALL SEMESTER 2005 Agricultural Economics 5010 Farm Management Dr. Patricia A. Duffy with Dr. Greg Traxler

2. AGEC 6010 Farm Management TEXT Farm Management Kay, Edwards, Duffy

3. Course Objectives • Use accounting tools to analyze business structure. • Learn to use budgets. • Apply decision tools to reorganize farms for increased profitability. • Improve management skills

4. Class Outline • Unit I: Financial Analysis (Duffy) • Unit II: Budgets (Traxler) • Unit III: Improving Management Skills (Duffy and Traxler)

5. POLICIES AND PROCEDURES READ YOUR SYLLABUS! For any policy issue not covered in the syllabus, please see the Tiger Cub, the AU Bulletin, or the Faculty Handbook.

6. Grading Policy Option 1 Option 2 3 hour exams 55% 80% Homework 5% 5% Farm Plan 10% 10% Farm Plan Quiz 5% 5% Final Exam 25% --

7. Grading Scale 90.01-100 A 80.01-90.00 B 70.01-80.00 C 65.00-70.00 D Below 65.00 F

8. Other Grading Policies • Do not ask for special consideration in your grade. • No “rounding up.” • All work counts. • No special extra credit work is accepted. • No grades are dropped. • All students are evaluated the same way.

9. Exams • Three hour exams. • Objective, definitions, short essays, problems, whatever. • Final is similar, but comprehensive and therefore longer. • Final can only increase your grade, not pull it down. See grading scale.

10. Grading Disputes • Write a note to indicating problem. • I will re-evaluate. • If you are unhappy with outcome, please see me in my office. • If you are still unhappy and wish to pursue the matter, see Tiger Cub.

11. Excuses and Extensions • See the “Tiger Cub” for university-excused absences. • Scheduled excused absences should be brought to my attention at least one week before the exam or assignment due date. • In case of sudden illness or family emergency, see me immediately upon your return to the university.

12. Excuses and Extensions • Proper documentation is required. • Note from faculty member for field trip. • Dean’s note for sudden illness or family emergency. • Unexcused absences result in grade of 0 on test.

13. MAKE-UP EXAMS: For excused absences, make-up exams will be scheduled for a mutually agreeable time. It is the student’s responsibility to see me to set up the time for the make-up.

14. LABS: We will do some lab work during regularly scheduled classes. Students will need a diskette for this class.

15. Homework • Many short (1 for each topic) homework assignments. • Late homework is accepted, with reduced grade, up to two class days after due date. • It is the student’s responsibility to ensure that he or she receives the graded homework, in cases where the student misses class or is late to class on the day of its returned.

16. Extra Credit Problems A few extra credit problems may be provided, giving students a chance to earn 1 or 2 exam points per extra credit assignment.

17. Farm Financial Analysis and Plan • Detailed instructions provided on web (will be available soon). • Students will work in groups of 3 (I'll assign the groups). • I will give each group a data set for analysis.

18. Farm Financial Analysis and Plan • Project will be written as a formal paper. • There will be a quiz (taken individually) over farm planning to reduce the probability of "free riders" on the group project. • Students should already know how to use electronic spreadsheets. If you don't, see me ASAP.

19. Attendance Policy • Attendance is taken in class. • Attendance is not factored directly into your grade, but will likely show up in your performance. • Make-up work or special help is not provided for unexcused absences.

20. Class Questions Yours: Wait for a pause in the lecture. Don’t shout them out while I’m lecturing, please. Mine: See me if there is a compelling reason for me not to call on you.

21. ACADEMIC HONESTY We follow procedures in the Tiger Cub and will turn in all suspected cases of academic dishonesty.

22. Office Hours • See front page of syllabus. • Office hours will be expanded as tests approach. • To see me (or Dr. Traxler) at other times, make an appointment, either after class, by phone, or by email. Please try not to "drop in" without arrangement during other hours. The older I get, the harder it is for me to juggle multiple tasks.

23. More Policies and Procedures • We will use email as official class communication. • Visuals will be made available on the class webiste, pduffy.pageout.net • Taping the lecture is not allowed without prior permission. • Please don’t surround me as I set up for class.

24. Students who need Accommodations Students who need accommodations should see me as early as possible in the semester. I will work to accommodate special needs in a manner consistent with the recommendations of the Program for Students with Disabilities.

25. Teaching Philosophy Education is not a product that can be consumed passively. Human capital formation requires inputs from both the professor and the student. I believe all students in this class can master this material and do well, if proper effort is expended.

26. Homework Grading Check plus (O), check, or check minus (U). Grade = 90 + (O/N)*10 - (U/N)*10 - (L1/N)*20 - (L2/N)*30 - (M/N)*90. Where L1 is number of assignments one day late. L2 is number two days late, M is number missing, and N is total number.

27. READ THE SYLLABUS READ THE SYLLABUS READ THE SYLLABUS