1 Economics of Farm Enterprises II. (Farm Management II.) MSc level Teachers: Ferenc ZEMANKOVICS Zsuzsanna BACSI

2 Topics Introduction to course  Capital and taxation  1. Sources and use of credit and capital,  2.Taxation, interest rates and inflation  Planning Labour  3. Labour and the farming system, planning labour, recruiting and selecting staff, staff management, pay and conditions  Machinery planning  4. Machinery planning, methods of acquiring the use of machines  Factors affecting the profitability of the main farm enterprises  5. I. Enterprise studies: grass, milk production, beef production  6. II. Enterprise studies: pig production, sheep production  7. III. Enterprise studies: cereal production, potatoes, sugarbeet  8. Structure of planning, partial budgeting  9. Whole farm budgeting: complete budgeting, programming techniques  10. Capital budgeting and investment appraisal: Cash-flow budgets, appraising new capital investment  11. Implementation of a plan and marketing  12. Budgetary control, predictions for the future

3 Course requirements Contact hours: 1+2 Assessment: Course acceptance: One test paper during the term ( at week 7-8) Two individual assignments during the term ( at week 5 and at week 10 ) Examination: Written examination based on the course materials at the end of the term

4 Teaching materials Buckett, M: An introduction to farm organisation and management. Pergamon Press Barnard, C. S. and Nix, J. S: Farm planning and control. Cambridge University Press PPT files of the presentations