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Economics of Farm Management in a Global Setting

ISBN: 978-0-470-59243-4

November 2010

560 pages

Description
Farm managers will appreciate this book as they learn the principles of farm management; from the basics of management and economics; to the details of strategy and operations. It presents economic concepts, such as the discussion of markets, competitive forces, and macroeconomics, which is new to farm management texts. Material is included on strategy, marketing, budgeting, production and operations, quality, finance, investment, risk, contracts, staffing, business organisation, farm succession, and the future. Strategic management and quality management as well as new techniques and tools in production and operations management are also examined. This approach will help farm managers improve the efficiency, effectiveness, objectivity, and, ultimately, success of their decisions.
About the Author

Dr. Kent Olson is professor in the Department of Applied Economics at the University of Minnesota. He is involved in applied research, on-campus teaching, and extension education. He has taught farm management for 25 years on campus and in extension settings. His research emphasizes farm level management issues, especially the interaction between farming and the environment, sustainable agriculture, decision-making, alternative production technologies, and the impact of government policies. Dr. Olson has also been the state coordinator for two farm record associations in Minnesota. He grew up on a farm in north-central Iowa, graduated from Iowa State University, and was a farm management extension specialist at the University of California-Davis before joining the faculty at Minnesota in 1985. He and his siblings continue to own and manage a farm in Iowa.

Features
  • Presents the unique perspective of running a farm as a business.
  • Strategic business planning framework:  accounting, finance, and marketing issues are all well addressed.
  • Broad range of essential topics from long-term financing, crop management, and modern and international farming issues.
  • Thorough coverage of modern farming issues with regard to organic crops, farmer’s markets, biofuels, and labor and immigration issues.
  • International examples from Europe, Brazil, Australia, and Asia.
  • Significant coverage of core microeconomic and macroeconomic issues and trends.