1. AAE 320: Farming Systems Management
Dr. Paul D. Mitchell
418 Taylor Hall
Departmental Contacts
Linda Davis, 424 Taylor Hall, ,
Kathy Martin-Taylor, 429 Taylor Hall, ,

2. Course Objective
For students to understand basic economic principles and their application to the management of agricultural production systems and to gain an appreciation of the complexity of U.S. farming.

3. Course Homepage http://www.aae.wisc.edu/aae320/main.asp
No Textbook: Classic text is Kay, Edwards, and Duffy (2015), $ on Amazon
I will make various materials available in class and/or on the course homepage. I expect students to use/read these, which may include paying costs for printing materials freely available on the internet. Many useful farm management materials are available on the internet for free.

4. Grading Grades calculated based on the following weights
In-Class Exams (2 x 25% each) 50%
Comprehensive Final Exam 25%
Problem Sets (8 during semester) 20%
Class Participation %
Grading Scale
 93 A
88  and < 93 AB
83  and < 88 B
78  and < 83 BC
70  and < 78 C
60  and < 70 D
< 60 F

5. Exams Two in-class exams and a comprehensive final
Announced at least 1 week in advance
Best Guess: Oct. 14 and Nov. 18 (could move)
Developed from lecture, materials posted on the class homepage and discussed in class, and problem sets
Expect questions to challenge your understanding and use of managerial concepts and tools.
Previous exams and keys will be available on the course homepage to aid your studies
Final Exam: Dec. 19(Monday), 2:45 PM – 4:45 PM

6. The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights protection for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the McBurney Resource Center, 702 W. Johnson Street, Suite 2104, , (608) (text), or or online:

7. Please communicate with me early if you have special needs so that I can accommodate your needs in order to enhance your learning experience.
Please communicate with me well beforehand if you know you have a conflict with returning a class assignment on time or taking an examination at the scheduled time.

8. Topics Covered in AAE 320 Introduction
Overview of Wisconsin Agriculture
Decision Making Overview
Production Economics
Single Input Production Economics
Multiple Input Production Economics
Cost Economics
Flat Farm Economics
EXAM #1 (Around October 14th)

9. Topics Covered in AAE 320 Farm Finance
Financial Analysis: Balance Sheets
Financial Analysis: Income Statement
Farm Decision Analysis
Taxes, Business Arrangements and Farm Transfer
Federal Tax Overview
Tax Considerations for Farm Transfer
Beginning Business Arrangements
Business Arrangement Alternatives
EXAM #2 (Around November 18th)

10. Topics Covered in AAE 320 U.S. Farm Policy and Programs
Commodity Support Programs
Crop Insurance and Disaster Assistance
Special Topics
Technological Change
Agricultural Sustainability
Climate Change
FINAL EXAM (DEC. 19, 2:45 PM – 4:45 PM)

11. Let’s talk about it!
3-4 times we will have a discussion oriented class to talk about agricultural issues
Nitrogen and Crops
Insecticides
Dairy Farm Size
4 or so readings and videos with some questions and writing before class, then in class small and large group discussions
Goal: to develop an appreciation for the complexity of US agriculture

12. Summary
Class Homepage is your textbook, get familiar with it; check it regularly
Expect lots of work: a little writing, problem sets, long exams), but it’s not rocket science
Communicate with me if real life intervenes
is best: