AGBS 100 - AGRICULTURAL ECONOMICS

Fundamental economic principles keyed to agriculture. Emphasis on specialization and exchange, the commercial banking system, monetary and fiscal policy, and supply and demand. Units on gross national product and the consumers price index. Global international trade, United States and New York State economics are discussed.

3 credits (3 lecture hours), fall semester

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AGBS 200 - MARKETING AGRICULTURAL PRODUCTS

Supply and demand analysis, elasticity of demand. Commodity futures exchange with emphasis on individual projects in futures trading. Market structure, marketing orders, pricing, advertising and approaches to studying marketing problems. Units on cooperatives and marketing alternatives.

3 credits (3 lecture hours), spring semester

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AGBS 210 - FARM MANAGEMENT

Basic management principles affecting the operation of a farm business. Units on physical production relationships, profit maximization, cost minimization, forms of business organization, and equimarginal returns. Enterprise combination, partial and complete budgeting with emphasis on decision making. Units on farm record keeping, including inventories, depreciation, operating and capital income and expenses,  balance sheets and income statements and the use of such records in analyzing the farm business are included. AGBS 210 and AGBS 215 cannot both be taken for credit.

3 credits (3 lecture hours), fall semester

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AGBS 220 - AGRICULTURAL FINANCE

Uses of credit including real estate, capital equipment and annual operating needs. Long term, short term and lines of credit as means of meeting these needs. Sources of credit including PCA, FLB, FMHA, banks and individuals. Security instruments such as first and second mortgages, collateral mortgages, liens and contracts. Repayment schedules including amortized loans, balloon payments, refinancing and variable rate loans. Capital investment analysis with emphasis on net present value and yield on investment. Chattel and real estate appraisals including summation, depreciated replacement value and capitalization methods. Other topics to include real estate taxation, income statements, balance sheets, cash flow budgets and trend analysis. Semester project dealing with preparation of and application for farm financing. Computer applications as appropriate.

Prerequisite: ESCI 215 or AGBS 210

3 credits (3 lecture hours), spring semester

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AGBS 225 - ENVIRONMENTAL ECONOMICS

This course covers application of basic economic principles to environmental problems, pareto optimality, efficiency, price theory, perfect competition, market intervention and failure, and how the neoclassical theory affects policy decisions regarding the environment.  Economic concepts are presented in an environmental context.

Prerequisite: AGBS 100 or permission of instructor

3 credits (3 lecture hours), fall or spring semester

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AGBS 230 - AGRICULTURAL BUSINESS MANAGEMENT

Fundamentals of small agricultural business operation. Forms of business organization. Sources and uses of long and short term credit and extending credit. Capital budgeting and investment analysis.

2 credits (2 lecture hours)

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AGBS 250 - DECISION MAKING FOR AGRICULTURAL MANAGERS

Using economic models and managerial decision making processes, students will be responsible for completing weekly analysis of farm operations, identifying and solving problems and/or creating opportunities for improving farm operations. Students will be actively involved in the process of gathering, organizing, and analyzing financial, production, and labor efficiency data. Upon completion of data analysis, evaluation of alternatives and making final recommendations to management, students will be actively involved in the implementation and monitoring processes. Each semester, students will complete a comprehensive case study analysis. Examples of such studies include ownership vs. custom hire, heifer replacement costs, and facility and production costs. 

Prerequisites: AGBS 210, or permission of instructor
Pre/co-requisite: AGBS 220
3 credits (2 lecture hours, 2 laboratory hours), spring and fall semesters

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AGBS 305 - AGRICULTURAL FINANCIAL DECISION MAKING

This course involves case work and on farm consulting with the Farm Credit System.  All lectures will be taught at Morrisville State College. Most laboratory assignments will be completed at First Pioneer Farm Credit (the largest agricultural lender in the United States) in Sangerfield, NY, or at selected farms in which students will act as agricultural leaders.

Prerequisites: ACCT 101, AGBS 210

Corequisite: AGBS 220

3 credits (2 lecture hours, 2 laboratory hours), fall semester

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AGBS 405 - CAPSTONE FOR FARM MANAGERS AND RURAL ENTREPRENEURS

Students will be introduced to commercial dairy producers and successful rural entrepreneurs.  They will work in teams and act as consultants to evaluate farm and rural agriculturally based businesses financial, human resources and strategic management practices. Students in Dairy Management will evaluate herd nutrition, genetics, reproduction and identify key problems and present findings to both the class and farm managers/owners.  Students interested in food and agricultural entrepreneurship will evaluate dairy and food processing techniques, packaging and food safety procedures.  Upon identifying key problems, students will present their finding to both class and entrepreneur.  All lectures will be taught at Morrisville State College.  Most of the laboratory assignments will be completed at the farm or rural business in which the students will be serving as consultants.

Prerequisites: AGBS 100, 200, 210, 220, 305, college accounting and DANS 250

3 credits (2 lecture hours, 2 laboratory hours), spring semester

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ESCI 215 - EQUINE FARM MANAGEMENT

Basic management principles affecting the operation of an equine farm business. Topics include asset valuation, calculation of inventory, stable construction, cost estimation, balance sheets, records for income and expenses, income statements, farm labor, farm finance, contracts and agreements, and the analysis of the equine business.

3 credits (2 lecture hours, 2 laboratory hours), fall semester

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ESCI 315 - EQUINE BUSINESS MANAGEMENT

Content will emphasize equine enterprise management.  Topics to include equine inventories, measurement and cost determination of enterprise inputs, employer labor responsibilities, employee evaluation, contractual and billing procedures, insurance, facility evaluation and work reports.

Prerequisite or corequisite: ERID-ESTB 300 or ESCI 320-340

3 credits (3 lecture hours)

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