Learning outcomes of the curricular unit (knowledge, skills and competences to be developed by the students)
It is intended that students: - Understand the role of economic science (microeconomics) on the behavior of economic agents and the decisions of production, consumption and its implications for the functioning of agricultural companies. - Are enable with knowledge and skills relating to methods and techniques of land management actions to develop planning and capacity management of agricultural enterprises.
Syllabus
1. Definition of economy. Economic problems and its solutions. Economic agents. 2. Introduction of Microeconomy: Elementary theory of demand and supply. Price formation. Theory of production and costs. 3. Brief notions of financial accounting. 4. Basics of financial analysis. 5. Introduction to Management: Functions and objectives of management. Fundamental concepts. Typology and specificities of agricultural enterprises. 6. Company Structure: Capital: definition and classification, associated costs to the use of capital. Labour: definition and classification; associated costs with labour utilization. Agent: definition and relationship with management; major steps manager's decision. 7. The Company Results: Treasury results (cash accounting), economic results and public accounting system. Global budgets and partial budgets. Overall operating budget. 8. Planning in the short term: planning, budgeting, financial management and information systems.
Demonstration of the syllabus coherence with the curricular unit's learning objectives
The microeconomic approach allows the understanding of the functioning of economic agents (supply, and the price formation) and assumes a key role in the determination of the most interesting point of the design activities and in the selection and level of using of production factors (theory of production and cost). Financial calculation notions are essential to understand the business financing and analysis of associated costs. Analysis of different production factors and costs associated with their use are one of the basic elements in business management. The determination of company results is the key element to control the planning and management of companies. Finally, financial management based on a set of tools currently available is essential to ensure the viability of the companies. This set of contents will enable students to achieve the proposed level of understanding the functioning of the economy and in terms of management functions of agrarian enterprises.
Teaching methodologies (including evaluation)
The student's involvement with a participatory learning is a central element of the Unit. The classes will consist in four phases: - the presentation of the main topics to be developed, - a debate on the issues and their importance to the management, - the theoretical approach - and finally, the application of this knowledge through practical exercises. All exercises will be based on examples of Portuguese farms. Evaluation Continuos evaluation: - Two written tests (P1 e P2). It is mandatory a registration for the first test, in the Moodle, up to 24 hours before the test. Conditions for final exam exemption: - Obtain a minimum score of 8 points. Final grade for final exam exemption: 0,5*P1 + 0,5*P2 >= 10 points. Conditions for admission to the final exam: being enrolled in the course. Final exam: a written test.
Demonstration of the coherence between the teaching methodologies and the learning outcomes
The teaching methodologies will have a significant focus part of their development in the practical implementation of the simulation problems and search for the best solution, Il will have a high utility in the functions to be performed by students in a professional situation. Providing solid methodological concepts, accompanied by real cases ensures a high level of consistency with the objectives of the course. In addition to the lecture method, it will be made a discussion forum and conducting a wide range of exercises to ensure high consistency between methodologies and sending the learning objectives.
Bibliography (Mandatory resources)
Avillez, F. et al (2005). Formação Global em Gestão Agrícola. Lisboa: FZ AgroGestão. Avillez, F., Estácio, F. & Neves, M. (1988). Análise de projectos agrícolas no contexto da Política Agrícola Comum. Lisboa: Banco Pinto & SottoMayor. Barros, H. & Estácio, F. (1972). Economia da Empresa Agrícola. Luanda: Universidade de Luanda. Brown, M. (1979). Farm Budgets From Farm Income Analysis to Agricultural Project Analysis. USA: The World Bank. Kay, R.D. (1988). Farm Management, Planning, Control and Implementation (2nd ed.). New York (NY): McGraw-Hill. Kay, R., Edwards, W. & Duffy, P. (2016). Farm Management (8th ed.) New York (NY): McGraw-Hill Education. Lipsey, R. (1980). Introdução à Economia Positiva. Lisboa: Editorial Aster. Mata, J. (2000). Economia da Empresa. Lisboa: Fundação Calouste Gulbenkian. Pinheiro, A. & Carvalho L. (2003). Economia e Política Agrícolas. Lisboa: Edições Sílabo.
