AAE 320: FARMING SYSTEMS
MANAGEMENT
DR. PAUL D. MITCHELL
418 TAYLOR HALL
608-265-6514
PDMITCHELL@WISC.EDU
Departmental Contacts
Linda Davis, 111 Taylor Hall, 262-9488, linda.davis@wisc.edu
Kathy Martin-Taylor, 429 Taylor Hall, 262-8966, kmartint@wisc.edu
COURSE HOMEPAGE
HTTP://WWW.AAE.WISC.EDU/AAE320/MAIN.ASP
• No Textbook: Classic text is Kay, Edwards, and Duffy
(2015), $223.15 on Amazon
• I will make various materials
available in class and/or on the
course homepage. I expect
students to use/read these, which
may include paying costs for
printing materials freely available
on the internet. Many useful farm
management materials are
available on the internet for free.
COURSE OBJECTIVE
• For students to understand basic economic
principles and their application to the management
of agricultural production systems and to gain an
appreciation of the complexity of U.S. farming.
GRADING
• Grades calculated based on the following weights
• In-Class Exams (2 x 25% each)
50%
• Comprehensive Final Exam
25%
• Problem Sets (8 during semester)
20%
• Class Participation
5%
 93
A
• Grading Scale
88  and < 93 AB
83  and < 88 B
78  and < 83 BC
70  and < 78 C
60  and < 70 D
< 60
F
EXAMS
• Two in-class exams and a comprehensive final
• Announced at least 1 week in advance, likely
earlier
• Developed from lecture, materials posted on the
class homepage and discussed in class, and
problem sets
• Expect questions to challenge your understanding
and use of managerial concepts and tools.
• Previous exams and keys will be available on the
course homepage to aid your studies
• Final Exam: Dec. 21 (Monday), 7:45 AM – 9:45 AM
• The Americans with Disabilities Act (ADA) is a
federal anti-discrimination statute that provides
comprehensive civil rights protection for persons
with disabilities. Among other things, this legislation
requires that all students with disabilities be
guaranteed a learning environment that provides
for reasonable accommodation of their disabilities.
If you believe you have a disability requiring an
accommodation, please contact the McBurney
Resource Center, 1305 Linden Drive, 608-263-2741,
(608) 263-6393 (TTY), or email
FrontDesk@mcb.wisc.edu.
• Please communicate with me early if you have
special needs so that I can accommodate your
needs in order to enhance your learning
experience.
•
• Please communicate with me well beforehand if
you know you have a conflict with returning a class
assignment on time or taking an examination at the
scheduled time.
TOPICS COVERED IN AAE 320
• Introduction
• Overview of Wisconsin Agriculture
• Decision Making Overview
• Production Economics
• Single Input Production Economics
• Multiple Input Production Economics
• Cost Economics
• Flat Farm Economics
• EXAM #1
(About 1st week of October)
TOPICS COVERED IN AAE 320
• Farm Finance
• Financial Analysis: Balance Sheets
• Financial Analysis: Income Statement
• Farm Decision Analysis
• Taxes, Business Arrangements and Farm Transfer
• Federal Tax Overview
• Tax Considerations for Farm Transfer
• Beginning Business Arrangements
• Business Arrangement Alternatives
• EXAM #2
(About 2nd week of November)
TOPICS COVERED IN AAE 320
• U.S. Farm Policy and Programs
• Commodity Support Programs
• Crop Insurance and Disaster Assistance
• Special Topics
• Technological Change
• Agricultural Sustainability
• FINAL EXAM
(DEC. 21, 7:45 AM – 9:45 AM)
LET’S TALK ABOUT IT!
• 3-4 times we will have a discussion oriented class to
talk about agricultural issues
• Nitrogen and Crops
• Insecticides
• Dairy Farm Size
• 4 or so videos and readings with some questions
and writing before class, then in class small and
large group discussions
• Goal: to develop an appreciation for the
complexity of US agriculture
SUMMARY
• Class Homepage is your textbook, get
familiar with it; check it regularly
• http://www.aae.wisc.edu/aae320/main.asp
• Expect lots of work: a little writing, problem
sets, long exams), but it’s not rocket science
• Communicate with me if real life intervenes
• Email is best: pdmitchell@wisc.edu