Farm costs and returns
Understand fixed and variable costs, gross margins and the difference between revenue and profit.
GET TO KNOW THE SUBJECT
What is agriculture economics about?
A crop can grow well and still be difficult to sell profitably. Agriculture economics helps explain why. It looks at the resources a farm uses, the risks it faces and the markets that connect growers with buyers.
Explore the economics of production, farm budgeting, agricultural marketing and rural institutions. The subject encourages you to ask practical questions: what does a decision cost, who benefits from it, and what might happen if prices or yields change? You do not need to see a farm as numbers alone; the purpose is to use numbers to understand real choices.
BUILD YOUR UNDERSTANDING01 02 03 04
What you'll explore
Markets and prices
Explore how supply, demand, seasonality and marketing channels influence agricultural prices.
Planning and risk
Compare farm plans and consider how uncertain yields, prices and input costs affect decisions.
Rural institutions
Study the roles of credit, cooperation and public policy in the agricultural economy.
PUTTING IDEAS TO WORK
Learning through practice
These activities show how the subject connects to everyday agricultural questions.
- 01
Build a simple budget
List the inputs and expected returns for a crop or farm activity.
- 02
Compare the options
Use a small change in price, yield or cost to see how a decision might turn out differently.
- 03
Explain the findings
Turn a table of figures into a clear recommendation, including the assumptions behind it.
LOOKING AHEAD
Where this knowledge can take you
The subject is relevant to agricultural marketing, farm business analysis, rural development and agribusiness support. Banking and policy roles may require additional qualifications or competitive selection. Strong analytical skills and the ability to explain a finding clearly are valuable across these paths.
LEARNING IN PICTURES
3 IMAGESExplore the gallery
Illustrations of agricultural learning and practice. Select an image for a closer look.
HAVE A QUESTION?
CONTACT OUR TEAM Let's talk about agriculture economics.
For current faculty details, course options and admission information, get in touch with the Faculty of Agriculture.