AGRB2004 Agribusiness Risk Management Semester 2, 2016ctl.curtin.edu.au/.../pdf.cfm/320038/600827.pdf · Adequate food for all: culture, science and technology of food in the 21st

Acknowledgement of Country We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present.

Unit study package code: AGRB2004

Mode of study: Internal

Tuition pattern summary: Note: For any specific variations to this tuition pattern and for precise information refer to the Learning Activities section.

Computer Laboratory: 1 x 2 Hours Weekly Tutorial: 1 x 2 Hours Weekly Seminar: 1 x 1 Hours Weekly Fieldwork: 1 x 8 Hours Once-only

This unit contains a fieldwork component. Find out more about fieldwork on the work integrated learning (WIL) website at http://ctl.curtin.edu.au/wil/fieldwork/index.cfm, which also contains a link to the Fieldwork Policy and Fieldwork Manual.

Credit Value: 25.0

Pre-requisite units: Nil

Co-requisite units: Nil

Anti-requisite units: Nil

Result type: Grade/Mark

Approved incidental fees: Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details.

Unit coordinator: Title: DrName: Amir Abadi GhadimPhone: +61 8 9266 5679Email: [email protected]: Building: 303 - Room: 183

Teaching Staff: Name: John NoonanPhone: +618 9266 4507Email: [email protected]: Building: 303 - Room: 172 -

Administrative contact: Name: Danish JavedPhone: 08 9266 9209Email: [email protected]: Building: 311 - Room: 144

Learning Management System: Blackboard (lms.curtin.edu.au)

Unit Outline

AGRB2004 Agribusiness Risk Management Semester 2, 2016

Faculty of Science and Engineering Department of Environment and Agriculture

AGRB2004 Agribusiness Risk Management Bentley Campus 08 Aug 2016 Department of Environment and Agriculture, Faculty of Science and Engineering

Page: 1 of 14CRICOS Provider Code 00301J

The only authoritative version of this Unit Outline is to be found online in OASIS

http://ctl.curtin.edu.au/wil/fieldwork/index.cfm

http://policies.curtin.edu.au/findapolicy/#F

http://ctl.curtin.edu.au/wil/local/docs/Fieldwork_Manual.pdf

http://fees.curtin.edu.au/incidental_fees.cfm

http://lms.curtin.edu.au/

Syllabus Students will learn strategies for managing production, price, financial, legal, human and technological risk. Students will apply Hazard Analysis Critical Control Point (HACCP) methodology to assess and control risk in agribusiness. Students will develop an understanding of commodity trading and hedging. Government and institutional policies and their implications for risk management are introduced.

Introduction The aim of this unit is to provide students with a sound understanding of management of risk and uncertainty in agribusiness. At the completion of this unit students should be able to identify and diagnose those variables in agribusiness systems that contribute to variability, uncertainty and risk, understand a firm’s managerial decision processes in response to such risks and uncertainties; think critically in undertaking risk assessments; and work as a team, as well as an individual, to articulate the methodology, analyse relevant data, summarise and produce results and make conclusions that can potentially lead to implementation of strategies and tactics that can make businesses more resilient and more profitable.

Unit Learning Outcomes All graduates of Curtin University achieve a set of nine graduate attributes during their course of study. These tell an employer that, through your studies, you have acquired discipline knowledge and a range of other skills and attributes which employers say would be useful in a professional setting. Each unit in your course addresses the graduate attributes through a clearly identified set of learning outcomes. They form a vital part in the process referred to as assurance of learning. The learning outcomes tell you what you are expected to know, understand or be able to do in order to be successful in this unit. Each assessment for this unit is carefully designed to test your achievement of one or more of the unit learning outcomes. On successfully completing all of the assessments you will have achieved all of these learning outcomes.

Your course has been designed so that on graduating we can say you will have achieved all of Curtin's Graduate Attributes through the assurance of learning process in each unit.

Curtin's Graduate Attributes

Learning Activities

l Interactive lectures l Group learning activities & discussion l Guest lectures & visits l Case study

On successful completion of this unit students can: Graduate Attributes addressed

1 Assess and characterise risk using HACCP

2 Demonstrate a sound knowledge of the Australian and international commodity trading system

3 Demonstrate critical thinking skills in considering government and institutional policies in assessing risk

4 Demonstrate team work in both written and oral forms using appropriate language and style using critical thinking skills and ethical behaviour

Apply discipline knowledge Thinking skills (use analytical skills to solve problems)

Information skills (confidence to investigate new ideas)

Communication skills Technology skillsLearning how to learn (apply principles learnt to new situations) (confidence to tackle unfamiliar problems)

International perspective (value the perspectives of others)

Cultural understanding (value the perspectives of others)

Professional Skills (work independently and as a team) (plan own work)

Find out more about Curtin's Graduate attributes at the Office of Teaching & Learning website: ctl.curtin.edu.au





http://ctl.curtin.edu.au/

l Group project l Workshops & seminars l Independent research l Student seminars

Learning Resources Library Reserve

There are resources for this unit in the library Reserve collection. To access these resources, please click on the following link:

http://link.library.curtin.edu.au/primo/course?AGRB2004

Essential texts

The required textbook(s) for this unit are:

l Codex Alimentarius Commission. 2009. Food hygiene: Basic Texts. 4th Edition. WHO-FAO. Rome. Is available via Blackboard.

(ISBN/ISSN: 978-92-5-105913-5) l Hardaker, J. B. ; Lien, G.; Anderson, J. R.; Huirne, R. B. M. (2015) Coping with Risk in Agriculture : Applied Decision Analysis.

3rd ed. Wallingford : CABI 2015. An E-Book available on line from the library.

(ISBN/ISSN: 1780642415)

l Barnard, C.S. and Nix, J. S. (1988) Farm planning and Control. Cambridge University Press control. 2nd ediution.

With focus on Chapter 16 - Uncertainty and farm organisation and planning

(ISBN/ISSN: 0521226589)

Online resources

l Codex Alimentarius Commission. 2009. Food hygiene: Basic Texts. 4th Edition. WHO-FAO. Rome. Is available via Blackboard.

(http://www.fao.org/docrep/012/a1552e/a1552e00.htm)

(ISBN/ISSN: 978-92-5-105913-5) l Hardaker, J. B. ; Lien, G.; Anderson, J. R.; Huirne, R. B. M. (2015) Coping with Risk in Agriculture : Applied Decision Analysis.

3rd ed. Wallingford : CABI 2015. An E-Book available on line from the library.

(http://link.library.curtin.edu.au/p?pid=CUR_ALMA51138382940001951 )

(ISBN/ISSN: 1780642415)

l Barnard, C.S. and Nix, J. S. (1988) Farm planning and Control. Cambridge University Press control. 2nd ediution.

With focus on Chapter 16 - Uncertainty and farm organisation and planning

(http://link.library.curtin.edu.au/p?pid=CUR_ALMA2199021660001951 )

(ISBN/ISSN: 0521226589)

Other resources

Referenced Texts (pre-readings)

Barnard, C.S. and Nix, J. S. (1988) Farm planning and Control. Cambridge University Press control. 2nd ediution. With focus on Chapter 16 - Uncertainty and farm organisation and planning

Codex Alimentarius Commission. 2009. Food hygiene: Basic Texts. 4th Edition. WHO-FAO. Rome. ISBN 978-92-5-105913-5





http://link.library.curtin.edu.au/primo/course?AGRB2004

http://www.fao.org/docrep/012/a1552e/a1552e00.htm

http://link.library.curtin.edu.au/p?pid=CUR_ALMA51138382940001951

http://link.library.curtin.edu.au/p?pid=CUR_ALMA2199021660001951

Drummond, H. E. and Goodwin, J.W. (2014) Agricultural economics. Third edition, New international edition. Harlow, Essex, England: Pearson Education Limited.

Goodwin, P. and Wright, G. (2010) Decision analysis for management judgment. 4th ed. John Wiley & Sons Ltd.

Hardaker, J. B. ; Lien, G.; Anderson, J. R.; Huirne, R. B. M. (2015) Coping with Risk in Agriculture : Applied Decision Analysis. 3rd ed. Wallingford : CABI 2015. An E-Book available on line from the library.

Hopkin, P. 2012. Fundamentals of Risk Management: understanding, evaluating and implementing effective risk management. 2nd ed. Great Britian: Kogan Page Limited.

Kay, R. D., Edwards, W. M. And Duffy, P.A. 2008. Farm Management 6 edn, McGraw-Hill, Boston, Mass. USA.

Krause, M. 2014. Farming The Business. Grains Research & Development (GRDC) http://www.grdc.com.au/FarmingTheBusiness

Malcolm, B., Sale, P., Leury, J & Barlow, S 2009, Agriculture in Australia: an introduction, 2nd edn, Oxford University Press, South Melbourne.

GRDC. 2008. Grain market lingo: What does it all mean? Grains Research & Development

GRDC. 2014. Economics of on-farm grain storage: A Grains Industry Guide. GRDC, Canberra. http://www.grdc.com.au/GRDC-Guide-OnFarmStorageEconomics

Luning, P.A., Devlieghere, F. and Verhe, R. (ed). 2006. Safety in agri-food chains, Wageningen Academic Press.

Marra, M., Pannell, D. J., & Abadi Ghadim, A. A. (2003). The economics of risk, uncertainty and learning in the adoption of new agricultural technologies: where are we on the learning curve?. Agricultural systems, 75(2), 215-234.

Medina, D.A. and Laine, A.M. 2011. Food quality: control, analysis and consumer concerns. Nova Science.

Theuvsen, L. (ed). 2007. Quality management in food chains. Wageningen Academic Press.

Wallace, C., Speiber, W.H. and Mortimore, S. 2010. Food safety in the 21st century: managing HACCP and food safety throughout the global supply chain. Wiley Blackwell.

Cavanari, M. 2009. International marketing and trade of quality food products. Wageningen Academic Press.

Lawrence, G., Lyons, K. and Wallington, T. 2010. Food security, nutrition and sustainability. Earthscan.

Meulenberg, M. and Jongen, W.M.F. (ed). 2005. Innovation in agri-food systems. Wageningen Academic Press.

Pond, W.G., Nichols, B.L. and Brown, D.L. (ed). 2009. Adequate food for all: culture, science and technology of food in the 21st century. CRC Press.

Swinnen, J.F.M. (ed) 2007. Global supply chains, standards and the poor: how the globalisation of food systems and standards affects rural development and poverty. CABI.

Walsch, M.B. (ed). 2010. Food supplies and food safety: production, conservation and population impact. Nova Science.

Bittman, J.B. 2008. Trading and Hedging with Agricultural Futures and Options. Marketplace Books.

CME Group, 2015, Self-Study Guide to Hedging with Grain and Oilseed Futures and Options. CME Group (Chicago Mercantile Exchange). Chicago. Available at http://www.cmegroup.com/trading/agricultural/self-study-guide-to-hedging-withgrain-and-oilseed-futures-and-options.html Retrieved 7 July 2015. Retrieved 7 July 2015. Is available via Blackboard.

Clark, E., J.B. Lesoiurd and R. Thieblemont. 2001. International Commodity Trading. Physical and Derivative Markets. Wiley.

Garner, C. and P. Brittain. 2009. Commodity Options. Trading and hedging volatility in the world’s most lucrative market. Pearson Education.

Lorton, S. and D. White. 2010. The Art of Grain Merchandising. Stipes Publishing

Schofield, N.C. 2007. Commodity Derivatives. Markets and Applications. Wiley Finance.

Additional References and Resources for Assessment 2

Abadi, Amir. 2003. "Learning to Manage a Risky Business." In Managing Climate Risk in Agriculture Workshop of The Australian Agricultural and Resource Economics Society Conference The Esplanade Hotel





http://www.grdc.com.au/FarmingTheBusiness

Abadi Ghadim, Amir K., and David J. Pannell. 2003. "Risk Attitudes and Risk Perceptions of Crop Producers in Western Australia." In Risk Management and the Environment: Agriculture in Perspective, eds Bruce A. Babcock, Robert W. Fraser and J. N. Lekakis, 113-133. Kluwer Academic Publishers.

ABARES (2016) Agricultural commodities Infographics Summary - March quarter

Anwar, M. R., Li Liu, D., Farquharson, R., Macadam, I., Abadi, A., Finlayson, J., & Ramilan, T. (2015). Climate change impacts on phenology and yields of five broadacre crops at four climatologically distinct locations in Australia. Agricultural Systems, 132, 133-144.

Bobenrieth, E., Wright, B., & Zeng, D. (2013). Stocks‐to‐use ratios and prices as indicators of vulnerability to spikes in global cereal markets.Agricultural Economics, 44(s1), 43-52.

Bond, Gary E., and Bernard Wonder. 1980. "Risk Attitudes Amongst Australian Farmers." Australian Journal of Agricultural Economics 24 (1): 16-34. doi: 10.1111/j.1467-8489.1980.tb00367.x.

Camm, J. D., Cochran, J. J., Fry, M. J., Ohlmann, J. W., & Anderson, D. R. (2014). Essentials of Business Analytics (Book Only). Nelson Education. Available at the library on closed reserve

Carter, C. A. (1999). Commodity futures markets: a survey. Australian Journal of Agricultural and Resource Economics, 43(2), 209-247.

Farquharson, R., Abadi, A., Finlayson, J., Ramilan, T., Liu, D. L., Muhaddin, A., ... & McGrath, J. (2013). EverFarm®-Climate adapted perennial-based farming systems for dryland agriculture in southern Australia. Final report for National Climate Change Adaptation Research Facility. Canberra.

Hardaker, J. B., Lien, G., Anderson, J. R., & Huirne, R. B. (2015). Coping with Risk in Agriculture: Applied Decision Analysis. CABI. (E-Book available online via at Curtin Library Catalogue)

Hardaker, J. B., & Lien, G. (2005). Towards some principles of good practice for decision analysis in agriculture. Norwegian Agriculture Economics Research Institute: Oslo. Available at: http://ageconsearch.umn.edu/bitstream/137925/2/2005_hardaker.pdf

Hardaker, J. B., & Lien, G. (2010). Probabilities for decision analysis in agriculture and rural resource economics: The need for a paradigm change. Agricultural Systems, 103(6), 345-350.

Hajkowicz, S. A., & Eady, S. (2015). Rural industry futures: megatrends impacting Australian agriculture over the coming twenty years. A research report prepared by CSIRO for the Rural Industries Research and Development Corporation, RIRDC, Canberra. Stronger Farmers-Stronger Economy. 139.

Hayman, P., Crean, J., Mullen, J., & Parton, K. (2007). How do probabilistic seasonal climate forecasts compare with other innovations that Australian farmers are encouraged to adopt?. Crop and Pasture Science, 58(10), 975-984.

Huirne, R. B., Meuwissen, M. P., Hardaker, J. B., & Anderson, J. R. (2000). Risk and risk management in agriculture: an overview and empirical results. International Journal of Risk Assessment and Management, 1(1-2), 125-136.

Keogh M 2013, 'Global and commercial realities facing Australian grain growers' in robust cropping systems - the next step. GRDC Grains Research Update for Advisers 2013. ORM Communications, Bendigo, Vic. pp 13-30.

Kimura, S., J. Antón and C. LeThi (2010), “Farm LevelAnalysis of Risk and Risk Management Strategies and Policies: Cross Country Analysis”, OECD Food, Agriculture and Fisheries Working Papers, No. 26, OECD Publishing. doi: 10.1787/5kmd6b5rl5kd-en. Available at: https://www.agriskmanagementforum.org/sites/agriskmanagementforum.org/files/Documents/Farm%20Level%20Analysis.pdf

Kingwell, R., & Pannell, D. (2005). Economic trends and drivers affecting the wheatbelt of Western Australia to 2030. Crop and Pasture Science, 56(6), 553-561.

Krause, Mike. 2014. Farming the Business: Sowing for Your Future. Kingston, ACT: Grains Research & Development Corporation. Chapter 8. Grain Selling versus Marketing

Lien, G., Hardaker, J. B., & Flaten, O. (2007). Risk and economic sustainability of crop farming systems. Agricultural Systems, 94(2), 541-552.

Long, W 2009, People Factors Driving Farm Decisions or A Bit of Bush Psychology, Grains Research Update, Adelaide, GRDC and Jon Lamb Communications, St Peters, South Australia

Long, W. and Cooper, I 2011, Farmer Decision Making in Rainfed Farming systems – The role of Consultants, Farming systems Groups and Decision Support Systems in Australia. Chapter 37, In: Tow, P., Cooper, I., Partridge, I., Birch, C.





(eds) Rainfed Farming Systems, Springer

Long, W. 2012, The Logic behind Irrational Decisions, Grains Research and Development Corporation – Farm Business Update, Adelaide , ORM Communications, Bendigo, Vic.

Lockie, S. (2015) Australia’s agricultural future: the social and political context. Report to SAF07 – Australia’s Agricultural Future Project, Australian Council of Learned Academies, Melbourne. Available at:

http://acola.org.au/PDF/SAF07/social%20and%20political%20context.pdf

Viewed: 29/06/2016

McCown, R. L., L. E. Brennan, and K. A. Parton. (2006). "Learning From The Historical Failure Of Farm Management Models To Aid Management Practice. Part 1. The Rise And Demise Of Theoretical Models Of Farm Economics". Aust. J. Agric. Res. 57 (2): 143. doi:10.1071/ar05051.

Mobsby, D, Price, C, Mifsud, C, Jackson, T, Dahl, A & Valle, H 2015, Australian grains: outlook for 2015–16 and industry productivity, ABARES report prepared for the Grains Research and Development Corporation, Canberra, November. CC BY 3.0.

Nelson, J. (1997) Teaching agricultural producers to consider risk in decision making. Faculty Paper Series, FP 97-17, Texas A&M University, Texas, USA. Available at: http://ageconsearch.umn.edu/bitstream/35835/1/waeasp68.pdf

Nicholson, C. (2013) Analysing and discussing risk in farming businesses. Extension Farming Systems Journal. Vol. 9 (1) Australasia Pacific Extension Network. pp 178-182.

Nicholsen, C. (2015) Analysing and discussing risk in farming. A GRDC Crop Updates Paper. Available at: businesseshttps://grdc.com.au/Research-and-Development/GRDC-Update-Papers/2015/03/Analysing-and-discussing-risk-in-farming-businesses

Nicholsen, C. (2015) Farm decision making - The interaction of personality, farm business and risk to make more informed decisions. GRDC Publication. Canberra. Available at: https://grdc.com.au/~/media/FarmDecisionMaking_final_lowres2.pdf

OECD. Publishing. (2009). Managing Risk in Agriculture: A Holistic Approach. Organisation for Economic Co-operation and Development. Available at: http://www.oecd.org/agriculture/agricultural-policies/45558582.pdf

Olsen, K. (2011). Economics of Farm Management in a global setting. John Wiley and Sons: USA

Orlowski, Jan Alexander Kazimierz. "Area Yield Crop Insurance: Effectiveness of an Australian simulation." In 2014 Conference (58th), February 4-7, 2014, Port Maquarie, Australia, no. 167122. Australian Agricultural and Resource Economics Society, 2014.

Ough, M., & Creese, J. (2015). Western Australian Farmland Values Index 2014. Adelaide: Rural Bank. Available at: http://www.ruralbank.com.au/assets/responsive/pdf/publications/wa-farmland-values-report-full.pdf

Viewed: 29/06/2016

Pannell, D. J., Malcolm, B., & Kingwell, R. S. (2000). Are we risking too much? Perspectives on risk in farm modelling. Agricultural Economics, 23(1), 69-78.

Pannell, D. J., Hailu, G., Weersink, A., & Burt, A. (2008). More reasons why farmers have so little interest in futures markets. Agricultural Economics, 39(1), 41-50.

Productivity Commission (2005) Trends in Australian Agriculture. Research Paper, Canberra. Available at: http://www.pc.gov.au/research/supporting/agriculture

Ragsdale, C. (2012) Spreadsheet modeling & decision analysis : a practical introduction to management science. Cengage Learning

Rickards, L. and Howden, S. (2012) Transformational adaptation: agriculture and climate change. Crop and Pasture Science 63: 240–250

Rural Bank (2016) Australian Farmland Values 2015. Available at:

https://www.ruralbank.com.au/assets/responsive/pdf/publications/farm-land-values-2015.pdf

Viewed: 29/06/2016

Sanderson, T., Hertzler, G., Capon, T., & Hayman, P. (2016). A real options analysis of Australian wheat production under climate change. Australian Journal of Agricultural and Resource Economics, 60(1), 79-96.





http://www.pc.gov.au/research/supporting/agriculture

Smith, V. H. (2016). Producer Insurance and Risk Management Options for Smallholder Farmers. The World Bank Research Observer, lkw002.

Stewart, V, S Marsh, R Kingwell, D Pannell, A Abadi, and S Schilizzi. 2000. "Computer Games and Fun in Farming‐

Systems Education?: A Case Study." The Journal of Agricultural education and extension 7 (2): 117-128.

Schnitkey, Gary D, Bruce J Sherrick, and Scott H Irwin. 2003. "Evaluation of Risk Reductions Associated with Multi-Peril Crop Insurance Products." Agricultural Finance Review 63 (1): 1-21.

Tisdell, C. A. (1986). Levels of pest control and uncertainty of benefits. Australian Journal of Agricultural Economics, 30(2‐3), 157-161.

Tomek, W. G., & Peterson, H. H. (2001). Risk management in agricultural markets: a review. Journal of Futures Markets, 21(10), 953-985

Assessment Assessment schedule

Detailed information on assessment tasks

1. HACCP Plan

Based on in-class case studies on methods in environmental, food safety and quality systems to eliminate or mitigate risk. Prepare a HACCP plan and report with short presentations to the class, on quality and risk management in production systems on a crop or product of your choice. These activities will be supported by quizzes and other learning activates. HACCP Plan is in two parts. Part 1, worth 10%, is a HACCP Quiz. This quiz is itself in two parts worth 5% each. Part 1a: Due 26th Aug, 17:00

Part 1b: Due 9th Sept, 17:00

Part 2, worth 20% is a HACCP Plan consisting of a report. Part 2: Due 16th Sept, 17:00

2. Risk Management Strategy Report This task has two phases. In phase one students will work collaboratively to run a simulated farm according to their own managerial knowledge, style and preference. In this initial phase they will generate the data that forms the basis of their analysis and the reporting of their results and conclusion. Second phase is based on individual work. In the second phase each student will produce a report to demonstrate that they can: identify and diagnose those variables in farming systems that contribute to risk, understand a firm’s managerial decision processes in response to such risks; think critically in undertaking risk assessments; work as a team as

Task Value % Date DueUnit Learning Outcome(s)

Assessed

1

HACCP Plan 30 percent Week: 4, 6 & 7 Day: Friday (26th Aug, 9th Sept and 16th Sept) Time: 17:00

1,3,4

2Risk Management Strategy Report 30 percent Week: 12

Day: Friday 17th Oct Time: 17:00

2,3

3

Examination 40 percent Week: Examination Week Day: TBA Time: TBA

1,2,3





well as an individual to articulate the methodology, analyse data, produce results and make conclusions about important findings.

Assessment 2: Due Week 12, 17th Oct, 17:00

3. A two (2) hour closed book examination in the examination week.

Pass requirements

Students must achieve a Final Mark of 50 or greater to pass this unit, passing all assessments, including meaningful individual contributions to group tasks.

Fair assessment through moderation

Moderation describes a quality assurance process to ensure that assessments are appropriate to the learning outcomes, and that student work is evaluated consistently by assessors. Minimum standards for the moderation of assessment are described in the Assessment and Student Progression Manual, available from policies.curtin.edu.au/policies/teachingandlearning.cfm

Late assessment policy

This ensures that the requirements for submission of assignments and other work to be assessed are fair, transparent, equitable, and that penalties are consistently applied.

1. All assessments students are required to submit will have a due date and time specified on this Unit Outline. 2. Students will be penalised by a deduction of ten percent per calendar day for a late assessment submission

(eg a mark equivalent to 10% of the total allocated for the assessment will be deducted from the marked value for every day that the assessment is late). This means that an assessment worth 20 marks will have two marks deducted per calendar day late. Hence if it was handed in three calendar days late and given a mark of 16/20, the student would receive 10/20. An assessment more than seven calendar days overdue will not be marked and will receive a mark of 0.

Assessment extension

A student unable to complete an assessment task by/on the original published date/time (eg examinations, tests) or due date/time (eg assignments) must apply for an assessment extension using the Assessment Extension form (available from the Forms page at students.curtin.edu.au/administration/) as prescribed by the Academic Registrar. It is the responsibility of the student to demonstrate and provide evidence for exceptional circumstances beyond the student's control that prevent them from completing/submitting the assessment task.

The student will be expected to lodge the form and supporting documentation with the unit coordinator before the assessment date/time or due date/time. An application may be accepted up to five working days after the date or due date of the assessment task where the student is able to provide an acceptable explanation as to why he or she was not able to submit the application prior to the assessment date. An application for an assessment extension will not be accepted after the date of the Board of Examiners' meeting.

Deferred assessments

If your results show that you have been granted a deferred assessment you should immediately check OASIS for details.

Deferred examinations/tests will be held from 13/02/2017 to 17/02/2017 . Notification to students will be made after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.





http://policies.curtin.edu.au/policies/teachingandlearning.cfm

http://students.curtin.edu.au/administration/

Supplementary assessments

Supplementary assessments, if granted by the Board of Examiners, will have a due date or be held between 13/02/2017 and 17/02/2017 . Notification to students will be made after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.

It is the responsibility of students to be available to complete the requirements of a supplementary assessment. If your results show that you have been granted a supplementary assessment you should immediately check OASIS for details.

Reasonable adjustments for students with disabilities/health circumstances likely to impact on studies

A Curtin Access Plan (CAP) is a document that outlines the type and level of support required by a student with a disability or health condition to have equitable access to their studies at Curtin. This support can include alternative exam or test arrangements, study materials in accessible formats, access to Curtin’s facilities and services or other support as discussed with an advisor from Disability Services (disability.curtin.edu.au). Documentation is required from your treating Health Professional to confirm your health circumstances.

If you think you may be eligible for a CAP, please contact Disability Services. If you already have a CAP please provide it to the Unit Coordinator at the beginning of each semester.

Referencing style

The referencing style for this unit is APA 6th Ed.

More information can be found on this style from the Library web site: http://libguides.library.curtin.edu.au/referencing.

Copyright © Curtin University. The course material for this unit is provided to you for your own research and study only. It is subject to copyright. It is a copyright infringement to make this material available on third party websites.

Academic Integrity (including plagiarism and cheating) Any conduct by a student that is dishonest or unfair in connection with any academic work is considered to be academic misconduct. Plagiarism and cheating are serious offences that will be investigated and may result in penalties such as reduced or zero grades, annulled units or even termination from the course.

Plagiarism occurs when work or property of another person is presented as one's own, without appropriate acknowledgement or referencing. Submitting work which has been produced by someone else (e.g. allowing or contracting another person to do the work for which you claim authorship) is also plagiarism. Submitted work is subjected to a plagiarism detection process, which may include the use of text matching systems or interviews with students to determine authorship.

Cheating includes (but is not limited to) asking or paying someone to complete an assessment task for you or any use of unauthorised materials or assistance during an examination or test.

From Semester 1, 2016, all incoming coursework students are required to complete Curtin’s Academic Integrity Program (AIP). If a student does not pass the program by the end of their first study period of enrolment at Curtin, their marks will be withheld until they pass. More information about the AIP can be found at: https://academicintegrity.curtin.edu.au/students/AIP.cfm

Refer to the Academic Integrity tab in Blackboard or academicintegrity.curtin.edu.au for more information, including student guidelines for avoiding plagiarism.





http://life.curtin.edu.au/health-and-wellbeing/CAP.htm

http://life.curtin.edu.au/health-and-wellbeing/disability_services.htm

http://life.curtin.edu.au/health-and-wellbeing/disablity_services_eligibility.htm#/health-and-wellbeing/10126.htm

http://life.curtin.edu.au/health-and-wellbeing/contact_disability_services.htm

http://libguides.library.curtin.edu.au/referencing

https://academicintegrity.curtin.edu.au/students/AIP.cfm

http://academicintegrity.curtin.edu.au/

Information and Communications Technology (ICT) Expectations Curtin students are expected to have reliable internet access in order to connect to OASIS email and learning systems such as Blackboard and Library Services.

You may also require a computer or mobile device for preparing and submitting your work.

For general ICT assistance, in the first instance please contact OASIS Student Support: oasisapps.curtin.edu.au/help/general/support.cfm

For specific assistance with any of the items listed below, please contact The Learning Centre: life.curtin.edu.au/learning-support/learning_centre.htm

l Using Blackboard, the I Drive and Back-Up files l Introduction to PowerPoint, Word and Excel

Additional information Enrolment

It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent option on OASIS, where you can also print an Enrolment Advice.

Student Rights and Responsibilities It is the responsibility of every student to be aware of all relevant legislation, policies and procedures relating to their rights and responsibilities as a student. These include:

l the Student Charter l the University's Guiding Ethical Principles l the University's policy and statements on plagiarism and academic integrity l copyright principles and responsibilities l the University's policies on appropriate use of software and computer facilities

Information on all these things is available through the University's "Student Rights and Responsibilities" website at: students.curtin.edu.au/rights.

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Program calendar Week Begin

Date Lecture/ Seminar

Pre-readings Tutorial/Other Assessment Due

Orientation 25 July Orientation Week

1. 1 August Risk in Agriculture. Barnard and Nix (1988) Chap 16

Hardaker et al Ch 1

Olsen Ch 22 Krause Ch 7

Kay et al Ch 15 OECD (2009) Camm et al

(2014) Ragsdale (2012)

Developing analytical skills for analysing risk.

Key summary statistics and measures of risk Quiz on elements of risk and its

management in farming

2. 8 August Risk Management Approaches

Introduction to HACCP

Codex Hazards

3. 15 August Sources and types of risk and uncertainty that growers face

and how they cope with them

Hardaker et al Ch 1

Barnard and Nix (1988) Chap 16

Olsen Ch 22 Krause Ch 7

Kay et al Ch 15 Kimura et al

(2010) OECD (2009)

Quiz on sources of risk and uncertainty Relative importance of and differential impact from different types of risk to

producers.

4. 22 August Risk Management Frameworks HACCP II

Hazard Analysis and Critical Control Points

Codex HACCP Principles 1 – 4 Part 1A (5%) HACCP in-class quiz 26th Aug 17:00

5. 29 August Tuition Free Week

6. 5 September

JN3 HACCP III

Corrective Action, Verification and Records

Codex HACCP Principles 5 – 7 Data, Records and Risk Management

Part 1B (5%) HACCP in-class quiz week 6: 9th

Sep, 17:00

7. 12 September

Grain Marketing and Price Risk Management

Drummond and Goodwin 2014 Chs 1 &

17 Olsen 2011 Ch

11 Pannell et al

(2008)

Worked examples of futures, forward contracts and swaps. Part 2 (20%): A

HACCP Plan report due date end of week 7 = Fri 16th

Sept 17:00

8. 19

Running a Risky Business Abadi (2003) Analysis of results of Risky Business





September Stewart et al

(2000)

simulation. Comparing and benchmarking performance across operational results,

financial outcomes and resource utilisation.

9. 26 September

Tuition Free Week

10. 3 October Events, probabilities, distribution. What do these have to do with

risk and uncertainty. Sources of data for risk analysis

on farms. Importance of choices, states of nature (climate, markets), quality

and quantity of, resource available for managing a farm.

Hardaker et al Ch 1,2 & 3

Olsen Ch 22 Kay et al Ch 15

Abadi and Pannell (2003) Camm et al

(2014)

Individual and Joint probability of yield and prices of our crops

stochastic dominance of the 1st and 2nd order

Methods for eliciting probabilities Methods for analysis of risk in agriculture

11. 10 October Modelling and analysing key risk factors impacting farms

Hardaker et al 2015 Chs 1,2 &3

OECD (2009) Pannell et al

(2000) Camm et al

(2014)

Requirements for a risk management strategy report

Key charting and data summary technique in risk analysis

12. 17 October Making decisions that account for risk and maximise profit and

life satisfaction under constrained resources of capital and knowledge in the short and

the long term


Goodwin & Wright (2010) Camm et al

(2014)

Spreadsheet modelling techniques for using gross margin to estimate Break even

pricing, and payoffs under variable outcomes

Assess 2 Risk Management Strategy

Report (30%) Due 21st Oct, 17:00

13. 24 October Analysis of decisions in prospect and in retrospect under risk and uncertainty and accounting for

individual risk attitudes and preferences


Goodwin & Wright (2010) Camm et al

(2014) Ragsdale (2012)

Spreadsheet modelling techniques for analysis of risk including decision trees

14. 31 October Economics of choices of inputs, outputs and adoption decisions

under risk uncertainty accounting for short and long

run objectives


Goodwin & Wright (2010)

Abadi and Farre (2015)

Nicholsen Cam (2013-5)

OECD (2009) Marra et al

(2003)

Use of two models for analysis of optimal level of inputs. Model 1 – Agronomic vs

Economically optimal rate of Nitrogen and Phosphate with and without precision

agriculture. Model 2 – To spray or not to spray foliar fungicides at GS31

15. 7 November

Study Week

16. 14

Examinations





November

17 21 November

Examinations



