1. DR. PAUL D. MITCHELL 418 TAYLOR HALL 608-265-6514 PDMITCHELL@WISC.EDU AAE 320: FARMING SYSTEMS MANAGEMENT Departmental Contacts Linda Davis, 111 Taylor Hall, 262-9488, linda.davis@wisc.edulinda.davis@wisc.edu Kathy Martin-Taylor, 429 Taylor Hall, 262-8966, kmartint@wisc.edukmartint@wisc.edu

2. COURSE HOMEPAGE HTTP://WWW.AAE.WISC.EDU/AAE320/MAIN.ASP 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.

3. 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.

4. GRADING Grades calculated based on the following weights In-Class Exams (2 x 25% each)50% Comprehensive Final Exam25% Problem Sets (8 during semester)20% Class Participation 5% Grading Scale  93 A 88  and < 93 AB 83  and < 88 B 78  and < 83 BC 70  and < 78 C 60  and < 70 D < 60F

5. 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

6. 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. FrontDesk@mcb.wisc.edu

7. 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.

8. 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 1 st week of October)

9. 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 2 nd week of November)

10. 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)

11. 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

12. 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.edupdmitchell@wisc.edu