AGRICULTURAL ECONOMICS 431 - Texas A&M University
January 19, 2010
AGEC 489/689 Course Schedule
Spring 2010 Semester
Week 1:
Tuesday, January 19th Introduction to course and course requirements.
Review of course syllabus.
Role of presentations.
Scope of agribusiness finance.
Part 1: Managerial Accounting Fundamentals
Thursday, January 21st Slide Show #1: Structure of food and fiber system.
What is managerial accounting?
Slide show #2: Basic structure of key financial statements and
financial statement linkages.
Assign Homework #1
Week 2:
Tuesday, January 26th Collect and discuss Homework #1.
Slide Show #3: Measurement, interpretation and application of key financial indicators.
Slide Show #4: Financial indicators, historical and comparative analysis.
Slide Show #5: Indicators of success versus failure.
Thursday, January 28th Demo previous borrower and lender presentations.
Slide Show #6: Enterprise budgets and the Master budget.
Slide Show #7: Cost accounting concepts.
Part 2: Economic Growth Concepts
Week 3:
Tuesday, February 2nd Demo a few more presentations from last semester.
Slide Show #8: The DuPont model for profit analysis.
Slide Show #9: Emphasis on the following:
Optimal current product and input combinations.
Concept of the firm’s long run expansion path.
Long run planning curve and size economies.
Price under perfect and imperfect competition.
Slide Show #10: Economic growth model.
Internal and external constraints to growth.
Application of leverage.
Assign Homework #2
Thursday, February 4th Collect and discuss Homework #2
Slide Show #11: Time value of money.
Present value of future cash flows.
Choice of discount rate.
Application of loan amortization.
Slide Show #12: Capital budgeting methods
Payback period method.
Net present value method.
Internal rate of return method.
Assign Homework #3
Week 4:
Tuesday, February 9th No class
Part 3: Valuing Investment Opportunities
Thursday, February 11th Collect and discuss Homework #3
Slide Show #12 continued:
Economic and service lives
Terminal values
Purchase of depreciable assets
Purchase of real estate and maximum bid price
Slide Show #13: Capital budgeting data requirements
Measuring future net cash flows
Alternative forecasting approaches
Concept of derived demand and machinery sales
Forecasting corn market equilibrium
Week 5:
Tuesday, February 16th Finalize team rosters
Summarize key elements of previous slide shows
Review for 1st hour exam
Thursday, February 18th 1st Hour exam
Week 6:
Tuesday, February 23rd Pass back and discuss graded 1st Hour Exams
Slide Show #14: Cost of capital
Explicit and implicit costs of capital
Weighted average cost of capital
Optimal capital structure
Thursday, February 25th Slide Show #15: Accounting for risk
Concept of business risk and risk/return preferences
Concept of financial risk
Portfolio effect
Ranking investment opportunities
Assign Homework #4
Week 7:
Tuesday, March 2nd Collect and discuss Homework #4
Discuss input form for class model
Discuss presentation requirements
In class time for team meetings
Thursday, March 4th Guest speaker: to be announced
Week 8:
Tuesday, March 9th Summarize key elements from previous slide shows
Review for 2nd hour exam
Thursday, March 11th 2nd hour exam
Week 9:
Tuesday, March 16th Spring break
Thursday, March 18th Spring break
Week 10:
Tuesday, March 23rd Pass back graded 2nd hour exams
Slide Show #16: Financial markets and financial intermediation
Slide Show #16: Agricultural lending industry
Financial regulation of agricultural lending institutions
Part 4: Financial Markets and Sources of Capital
Thursday, March 25th Slide Show #17: Loan application analysis
Credit scoring
Role of credit bureaus
Component of credit scorecard
Computerization of lending decisions
Week 11:
Tuesday, March 30th Guest speaker: to be announced
Thursday, April 1st Slide Show #18: Portfolio analysis
Stress testing portfolio segments
Portfolio manager and the credit officer
Information supplied by borrowing team to lending team
Demo more team presentations from previous semesters
Summary of lending perspective in this course
Team presentation overview
Part 5: Team Presentations
Week 12:
Tuesday, April 6th Borrower and Lender Teams (#1 and #7)
Thursday, April 8th Borrower and Lender Teams (#2 and #8)
Week 13:
Tuesday, April 13th Borrower and Lender Teams (#3 and #9)
Thursday, April 15th Borrower and Lender Teams (#4 and #10)
Week 14:
Tuesday, April 20th Borrower and Lender Teams (#5 and #11)
Thursday, April 22nd Borrower and Lender Teams (#6 and #12)
Week 15:
Tuesday, April 27th 3rd hour exam
Team executive summaries due at start of class
Thursday, April 29th Pass back graded 3rd hour exams and team grades
Briefly discuss optional final examination
Week 16:
Tuesday, May 4th Redefined day; no class
Thursday, May 6th Reading day; no class
Graduate student term papers due in my office by 5pm.
Check Howdy after 5pm today to see your grade for this exam as well as the presentation scores and final letter grade for the course should you choose not to take the optional final. A grade calculator will be posted on the website which can tell you the score you would need on the optional final exam to change your letter grade.
May 12th Optional Final Exam; 8-10 am
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