Course Summary
This course teaches the principles of economics and their application to agriculture and natural resources. Topics covered include market structures and policies, risk management, and environmental sustainability.Key Learning Points
- Understand the basic principles of economics and how they apply to agriculture and natural resources
- Learn about market structures and policies related to agriculture
- Explore risk management strategies and environmental sustainability practices
Job Positions & Salaries of people who have taken this course might have
- USA: $66,000 - $118,000
- India: INR 6,00,000 - INR 16,00,000
- Spain: €30,000 - €60,000
- USA: $66,000 - $118,000
- India: INR 6,00,000 - INR 16,00,000
- Spain: €30,000 - €60,000
- USA: $52,000 - $115,000
- India: INR 4,00,000 - INR 12,00,000
- Spain: €24,000 - €54,000
- USA: $66,000 - $118,000
- India: INR 6,00,000 - INR 16,00,000
- Spain: €30,000 - €60,000
- USA: $52,000 - $115,000
- India: INR 4,00,000 - INR 12,00,000
- Spain: €24,000 - €54,000
- USA: $50,000 - $85,000
- India: INR 4,00,000 - INR 10,00,000
- Spain: €24,000 - €45,000
Related Topics for further study
Learning Outcomes
- Apply economic principles to real-world agriculture and natural resource issues
- Evaluate market structures and policies related to agriculture
- Develop risk management and environmental sustainability strategies
Prerequisites or good to have knowledge before taking this course
- Basic understanding of economics
- Interest in agriculture and natural resource management
Course Difficulty Level
IntermediateCourse Format
- Online self-paced
- Video lectures
- Quizzes and assignments
Similar Courses
- Sustainable Agriculture
- Environmental Science and Sustainability
- Economic Growth and Sustainable Development
Related Education Paths
- Certificate in Agricultural Business Management
- Master of Science in Natural Resource Economics
- PhD in Agricultural and Resource Economics
Notable People in This Field
- Political Economist
- Economist and Philosopher
Related Books
Description
Sound economic thinking is crucial for farmers because they depend on good economic decision making to survive. Governments depend on economic information to make good policy decisions on behalf of the community. This course will help you to contribute to better decision making by farmers, or by agencies servicing agriculture, and it will help you to understand why farmers respond to policies and economic opportunities in the ways they do.
Outline
- Agricultural production and prices, and agriculture’s reliance on natural resources
- Video - Course introduction
- Video - History of agricultural production and prices
- Video - Agricultural products' supply
- Video - Agricultural products' demand
- Video - The 2007 food price crisis
- Video - Food security
- Video - Resource usage 1: Land and soils
- Video - Resource usage 2: Water
- Video - Resource usage 3: Nutrients
- Video - Resource usage 4: Pesticides
- Video - Interview - Kadambot Siddique, Institute of Agriculture, University of Western Australia
- Optional Viewing - The Agricultural Revolution: Crash Course World History #1
- Optional Reading - Economics Basics: Supply and Demand
- Recommended Reading - Pannell Discussion 266: Supply and Demand: The Wool Crisis
- Recommended Reading - Pannell Discussions 178: Betting on Wheat Prices
- Recommended Reading - Pannell Discussions 284: The world food price crisis of 2007
- Optional Viewing - The Corn Controversy: Food or Fuel
- Optional Reading - The Food Price Crisis of 2007/2008: Evidence and Implications
- Optional Reading - Causes of the 2007-2008 global food crisis identified
- Optional Reading - The State of Food Security and Nutrition in the World
- Quiz - Agricultural production and prices, and agriculture’s reliance on natural resources
- Resource and environmental challenges facing agriculture
- Video - Water pollution
- Video - Pesticide bans
- Video - Dryland salinity
- Video - Resource exhaustibility: phosphorus supply
- Video - Resource exhaustibility: water shortages
- Video - Resource exhaustibility: herbicide resistance
- Video - Climate change
- Video - Climate policy and adaptation
- Video - Interview - Michael Robertson, CSIRO
- Recommended Reading - Pannell Discussion 261: Agricultural water pollution
- Optional Reading - Protecting Water Quality from Agricultural Runoff
- Optional Reading - Pannell Discussion 26: Dryland salinity in Australia
- Optional Reading - Phosphorus: Essential to Life – Are we running out?
- Optional Reading - Can Australia overcome its Water Scarcity Problems?
- Optional Reading - Pannell Discussion 57: Herbicide resistance: Does prevention pay?
- Optional Reading - Pannell Discussions 230: Future climate change and wheat yields in Western Australia
- Recommended Reading - Pannell Discussions 168: Telling farmers how to adapt to climate change
- Resource and environmental challenges facing agriculture
- The economics of agricultural inputs
- Video - Fertiliser
- Video - Fertiliser and Crop Yield
- Video - Production functions
- Video - Profit maximisation
- Video - Building a spreadsheet to maximise profit
- Video - Effects of price and yield changes on optimal fertiliser use
- Video - Considering pollution in input decisions
- Video - Flat payoff functions
- Video - Interview - David Brown, Farmer, Burracoppin, Western Australia
- Optional reading - world data on fertilizers
- Recommended Reading - Pannell Discussion 277: Perfection isn’t best
- Optional Reading - Determining Optimum Nitrogen Application Rates for Corn
- Recommended Reading - Pannell Discussions 88: Flat-earth economics
- The economics of agricultural inputs
- The economics of land conservation
- Video - Resource conservation in farming
- Video - Benefits and costs of resource conservation over time
- Video - Accounting for time
- Video - Discounting
- Video - Building a spreadsheet for discounting benefits and costs
- Video - Case study: conservation agriculture
- Video - Drivers of farmers’ decision-making
- Video - Interview - Mike McFarlane, farmer, Doodlakine, Western Australia
- Video - Interview - Greg Shea, WA Department of Agriculture and Food
- Recommended Reading - Pannell Discussions 33: Time is money
- Recommended Reading - Pannell Discussions 268: Conservation Agriculture in Developing Countries
- Optional Reading - The farm-level economics of conservation agriculture for resource-poor farmers.
- Recommended Reading - Adoption of conservation practices by rural landholders
- Optional Reading - Pannell Discussions 203: Predicting adoption of new farming practices
- Help with the calculations for Week 4 Quiz
- The economics of land conservation
- The economics of agri-environmental projects
- Video - Environmental projects in agriculture
- Video - Extending economics beyond the farm
- Video - Characteristics of environmental projects
- Video - Benefit: Cost Analysis
- Video - Benefit: Cost Ratio
- Video - Case study: The Gippsland Lakes
- Video - A helpful tool: INFFER
- Video - Interview - Marit Kragt, School of Agricultural and Resource Economics, University of Western Australia
- Optional Viewing - A cleaner Baltic Sea by improved agricultural productivity
- Optional Viewing - Positive benefits flow from agri-environment funding support in Scotland
- Recommended Viewing - Intro to Cost-Benefit Analysis
- Optional Reading - Simple Introduction to Cost-Benefit Analysis
- Recommended Reading - When ranking environmental projects, mixing a little theory, logic and common sense leads to better outcomes
- Recommended Reading - Pannell Discussion 182: Increasing marginal costs of environmental projects
- Optional Reading - INFFER (Investment Framework for Environmental Resources)
- The economics of agri-environmental projects
- Government policies in agriculture
- Video - Government policies in agriculture
- Video - Policies to support agricultural production
- Video - Policies for environmental protection in agriculture
- Video - Agricultural policy problems: Price support
- Video - Agricultural policy problems: Biofuels
- Video - Justifications for agricultural policy
- Video - Course wrap-up
- Video - Interview - Ross Kingwell, Australian Export Grains Innovation Centre
- Optional Viewing - Fields of Gold: Lifting the Veil on Europe's Farm Subsidies
- Optional Reading - Pannell Discussions 259: Increasing environmental benefits
- Recommended Reading - Pannell Discussion 266: Supply and Demand: The Wool Crisis
- Recommended Reading - Severing the Link between Farm Program Payments and Farm Production: Motivation, International Efforts, and Lessons
- Recommended Reading - The backlash against biofuels
- Optional Reading - The Trouble with Biofuels: Costs and Consequences of Expanding Biofuel Use in the United Kingdom
- Optional Reading - Pannell Discussions 22: Public goods and public benefits in NRM
- Optional Reading - Pannell Discussions 35: Externalities and market failure
- Further information on studying agricultural economics, natural resource economics or environmental economics at the University of Western Australia
- Government policies in agriculture
- Final Exam
- Final Exam
Summary of User Reviews
This agriculture economics course on Coursera has received positive reviews from students. Many users appreciated the course content and learning experience.Key Aspect Users Liked About This Course
The course content was the key aspect that many users thought was good.Pros from User Reviews
- Comprehensive and well-structured course content
- Engaging and interactive learning experience
- Expert instructors with relevant industry experience
- Flexible scheduling and self-paced learning
- Opportunities for networking and collaboration with peers
Cons from User Reviews
- Some users found the course to be too theoretical and less practical
- Occasional technical issues with the online platform
- Some users felt that the course could have been more challenging and in-depth
- Course assessments and grading could be improved
- Limited support for non-native English speakers
Professor David Pannell, BSc(Agric), BEc, PhD
4.7 Raiting
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