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Viewing: ARE 260 : Marketing and Risk Management in the Pork Industry

Last approved: Mon, 14 Sep 2015 21:22:02 GMT

Last edit: Mon, 14 Sep 2015 21:22:02 GMT

Change Type
ARE (Agricultural Economics)
260
032164
Dual-Level Course
Cross-listed Course
No
Marketing and Risk Management in the Pork Industry
Marketing & Risk Mgt Pork Ind
College of Agriculture and Life Sciences
Agriculture and Resource Economics (11ARE)
Term Offering
Fall and Spring
Offered Alternate Odd Years
Fall 2015
Previously taught as Special Topics?
Yes
4
 
Course Prefix/NumberSemester/Term OfferedEnrollment
ARE 495Spring 20116
ARE 495Fall 20114
ARE 495Spring 20132
ARE 495Fall 201315
Course Delivery
Distance Education (DELTA)
Online (Internet)

Grading Method
Letter Grade Only
1
16
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture1.0
Course Attribute(s)


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

Course Is Repeatable for Credit
No
 
 
Kelly Zering
Associate Professor

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Delivery FormatPer SemesterPer SectionMultiple Sections?Comments
LEC2525Non/a
Prerequisite: ANS 150
Is the course required or an elective for a Curriculum?
No
A comprehensive overview of structure and trends in markets and marketing options available in the swine industry. Management of market risk with hedging or other contracts.

In 2006, the National Pork Board and the United States Department of Agriculture identified the lack of a universal curriculum for swine industry professionals as a national need. About the same time many land grant universities that had traditionally taught swine management courses stopped doing so due to budgetary constraints or low course enrollments which further exacerbated this situation. In response, Iowa State University, North Carolina State University, and the U.S. Pork Center of Excellence received a U.S.D.A. Higher Education Challenge Grant to develop an online curriculum in swine production and management. The result was the Swine Science Online curriculum which is now part of the AG*IDEA Consortium of which N.C. State University is a member.


The proposed course is an elective course in the Swine Science Online curriculum of AG*IDEA, which was developed to meet an identified national need in higher education. Swine markets, market trends, price cycles, and an understanding of futures and options markets are important in pork production. In addition, controlling risk and uncertainty, including concepts of allocating risk through production and marketing contracts, contribute to successful pork production. These important topics are presented in this course.


Within the animal science curriculum at N.C. State University, students are exposed to swine production and management in ANS 150, "Introduction to Animal Science." ARE 260 will provide an additional and needed opportunity for students to learn more about marketing, and the management of risks, in swine production than is provided in ANS 150 and other courses offered through the Department of Animal Science. This need is noted in the letter of support from the Department of Animal Science, which has been submitted with this course action.


No

Is this a GEP Course?
No
GEP Categories

Humanities Open when gep_category = HUM
Each course in the Humanities category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Mathematical Sciences Open when gep_category = MATH
Each course in the Mathematial Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Natural Sciences Open when gep_category = NATSCI
Each course in the Natural Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Social Sciences Open when gep_category = SOCSCI
Each course in the Social Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Interdisciplinary Perspectives Open when gep_category = INTERDISC
Each course in the Interdisciplinary Perspectives category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Visual & Performing Arts Open when gep_category = VPA
Each course in the Visual and Performing Arts category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Health and Exercise Studies Open when gep_category = HES
Each course in the Health and Exercise Studies category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
&
 

 
 

 
 

 
 

Global Knowledge Open when gep_category = GLOBAL
Each course in the Global Knowledge category of the General Education Program will provide instruction and guidance that help students to achieve objective #1 plus at least one of objectives 2, 3, and 4:
 
 

 
 

 
Please complete at least 1 of the following student objectives.
 

 
 

 
 

 
 

 
 

 
 

US Diversity Open when gep_category = USDIV
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:
Please complete at least 2 of the following student objectives.
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

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.
 

College(s)Contact NameStatement Summary
College of Agriculture and Life SciencesMelissa MerrillConsultation is attached in Additional Documentation section.
No new department or college resources are required to offer or develop this course. All the developmental expenses were funded via the U.S.D.A. Higher Education Challenge grant. The Department of Animal Science has noted that approval of ARE 260 will not require any additional resources for the prerequisite course, ANS 150, which must be completed prior to enrolling in ARE 260.

Student Learning Outcomes

Upon completion of the course students will be able to:

 


• Recognize important roles of markets and marketing in swine production.


• Describe determinants of prices for various commodities in the pork industry.


• Define risk, and identify and describe, major sources of risk in swine production.


• Differentiate between, and select, appropriate markets and/or contracts.


• Identify and evaluate risk management alternatives available to the pork industry.


• Explain the relationship between marketing, and success of the firm.


Evaluation MethodWeighting/Points for EachDetails
Multiple exams60% of total grade3 Tests Including Final

Students are required to complete all tests via the NCSU Moodle site within the times specified by the instructor. Failure to submit a test will result in a grade of 0 for that test.
Other40% of total gradeQuizzes and Assignments

Students are expected to complete all quizzes and assignments prior to the due date and time specified by the instructor. Failure to submit a quiz or assignment by the due date and time may result in a grade of 0 for that quiz or assignment. Quizzes will be administered through the NCSU Moodle site and may be time limited and may allow 1 or 2 attempts at each question. It is the student's responsibility to read the instructions for each quiz and assignment and conduct themselves accordingly.
TopicTime Devoted to Each TopicActivity
Modules 1-48.19-9.11Module 1. Introduction and Overview

Module 2. An Introduction to the U.S. Pork Industry: Links in the Supply Chain

Module 3. Input Markets in Pig Production: Structure and Trends

Module 4. Pig Farm Product Markets: Structure and Trends

Test 1
Modules 5-79.14-10.02Module 5. Markets and Marketing: Definitions and Comparisons

Module 6. Markets, Supply, Demand, and Producer Profit

Module 7. Price Cycles and Market Margins in the Pork Industry
Modules 8-1210.05-10.30Module 8. Risk and Uncertainty: Definitions, Sources, and Effects

Module 9. Futures Markets and Basis

Module 10. Hedging with Futures Contracts

Module 11. Options Markets

Module 12. Hedging with Options Contracts

Test 2
Modules 13-1411.02-12.04Module 13. Production Contracts and Marketing Contracts

Module 14. Selecting Risk Management Methods
Final Review

Test 3

Final

Key: 7173