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Viewing: ARE 425 : Contracts and Organizations in Agriculture

Last approved: Mon, 29 Jan 2018 14:27:12 GMT

Last edit: Mon, 29 Jan 2018 14:27:13 GMT

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ARE (Agricultural Economics)
425
032553
Dual-Level Course
No
Cross-listed Course
No
Contracts and Organizations in Agriculture
Contracts in Ag
College of Agriculture and Life Sciences
Agriculture and Resource Economics (11ARE)
Term Offering
Fall Only
Offered Every Year
Fall 2018
Previously taught as Special Topics?
Yes
2
 
Course Prefix/NumberSemester/Term OfferedEnrollment
ARE495 (002)Spring 201716
ARE495 (005)Fall 20178
Course Delivery
Face-to-Face (On Campus)

Grading Method
Letter Grade Only
3
16
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture3
Course Attribute(s)


If your course includes any of the following competencies, check all that apply.
University Competencies

Course Is Repeatable for Credit
No
 
 
Tomislav Vukina
Professor

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Enrollment ComponentPer SemesterPer SectionMultiple Sections?Comments
Lecture2525NoAnticipated enrollment 15
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Prerequisite: ARE/EC 301 or equivalent or instructor's permission
Is the course required or an elective for a Curriculum?
Yes
SIS Program CodeProgram TitleRequired or Elective?
11ABMAgribusiness ManagementElective
This course deals with agricultural contracts and organizational structures in agriculture and food industries. The covered material relies on the economic theory to explain observed empirical phenomena. The approach also relies on the use case studies of different contractual arrangements observed in the U.S. agriculture. The content delivery consists of instructor's lectures, guest lectures and students' presentations. Grading is based on exams, presentations and a class project.

Various type of contracts as hybrid organizational forms that span the space between spot (cash) markets and integrated firms are becoming increasingly popular in many sectors of agriculture, food industries and elsewhere. To be able to successfully compete in modern job markets, students require increased training in economics of contracts.


No

Is this a GEP Course?
No
GEP Categories

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Each course in the US Diversity category of the General Education Program will provide instruction and guidance that help students to achieve at least 2 of the following objectives:
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Requisites and Scheduling
 
a. If seats are restricted, describe the restrictions being applied.
 

 
b. Is this restriction listed in the course catalog description for the course?
 

 
List all course pre-requisites, co-requisites, and restrictive statements (ex: Jr standing; Chemistry majors only). If none, state none.
 

 
List any discipline specific background or skills that a student is expected to have prior to taking this course. If none, state none. (ex: ability to analyze historical text; prepare a lesson plan)
 

Additional Information
Complete the following 3 questions or attach a syllabus that includes this information. If a 400-level or dual level course, a syllabus is required.
 
Title and author of any required text or publications.
 

 
Major topics to be covered and required readings including laboratory and studio topics.
 

 
List any required field trips, out of class activities, and/or guest speakers.
 

No additional department resources required for this course.

In contrast with historical reliance on spot or cash markets, various type of contracts as hybrid organizational forms are becoming increasingly popular in many sectors of agriculture, food industries and elsewhere. The main objective of the course is to educate students about the role and functioning of contracts as hybrid organizational forms that span the space between markets and firms. The main objective of the course is to train students in economics of contracts thereby preparing them to successfully compete in modern job markets. 


Student Learning Outcomes

At the conclusion of this course, students are expected to be able to:



  • explain the difference between the transactions cost and agency theories of the firm,

  • identify the problems associated with asymmetric information;

  • explain the role contracts play in the organization of modern agriculture and food industries,

  • compare and explain the difference between production and marketing contract,

  • construct a simple enterprise budget for a contract operator,

  • design a payment scheme that would correctly align the incentives of contracting parties in light of asymmetric information problems.


Evaluation MethodWeighting/Points for EachDetails
Exam40%There is only one in-class, closed-book exam which covers the core material covered in instructor's lectures. It is given towards the end of the semester before guest lectures and student presentations. It consists of numerical problem solving questions and short essays.
Homework20%There will be up to 10 homework assignments consisting of problem solving type exercises or literature review and commentary assignments.
Short Paper30%Students are supposed to select an observed real life contractual arrangement, preferably from agriculture or food sector, and analyze its basic structure and performance based on the theoretical knowledge developed in the course.
Oral Presentation10%Each student will have to present the result of his/her research in class and based on the received comments complete the final version of the paper.
TopicTime Devoted to Each TopicActivity
N/A
Full course weekly schedule and readings are provided in syllabus.
aeherget (Tue, 09 Jan 2018 20:26:54 GMT): AECHH: Adjusted Student Evaluation Methods and uploaded updated syllabus at initiator's request via email 1/9/2018.
aeherget (Thu, 25 Jan 2018 13:23:29 GMT): AECHH: Uploaded updated syllabus at initiator's request via email 1/24/2018 based on Pending items from January 24, 2018 UCCC Meeting.
Key: 20083