Teaching Agricultural Enterprise (Production) Budgets in Undergraduate Courses in Agribusiness and Agricultural Economics Programs

Abstract

This manuscript includes teaching materials for teaching agricultural enterprise (production) budgets in undergraduate courses in agribusiness and agricultural economics programs, which can also be used as educational materials in Extension activities. The teaching materials include: (a) an introduction to agricultural production budgets: purpose and structure; (b) a methodology of a profitability analysis conducted using information presented in the budgets; (c) agricultural production economics concepts explaining production decisions; (d) information sources; and (e) a guidance on how to develop relevant problem sets and implement teaching activities. The teaching note includes several problem sets structured using a multiple choice format and answer keys to these problem sets. In addition, the Excel teaching note includes generic crop and livestock production budgets and sample production budgets for representative crop and livestock enterprises.