The Profit Maximization Certificate focuses on basic economic concepts that enhance the financial success of an agriculture operation. Potential products to be completed in this certificate include, but are not limited to, a major business structure list, Schedule F tax schedule, enterprise production function, supply/demand graph, and a market price equilibrium graph.
Program Learning Outcomes:
- Understand the difference between the major business structures.
- Prepare Schedule F tax schedule using financial data.
- Determine enterprise production functions for their enterprises and use this information to determine profit-maximizing levels of input and output use.
- Demonstrate using supply/demand graphs to determine equilibrium prices for products/services.
Program Requirements
Total Credits
18
| Course Number |
Course Title |
Credits |
Details |
ABM233ABM2033 |
Profit Maximization I |
3 |
|
Lists the major business organizational structures available to agribusiness operations and compare the advantages and disadvantages of each. Document the risk management and financial responsibilities of each. (5-7.5-41.7)
|
ABM234ABM2034 |
Profit Maximization II |
3 |
|
Develops an understanding of basis agricultural business taxes and their preparation. Special emphasis will be placed on alternative rules for depreciating farm property. The student will also document the income tax implications of alternative business organizational structure. (5-7.5-41.7)
|
ABM235ABM2035 |
Profit Maximization III |
3 |
|
Compares the relationship between input levels and the corresponding output. Demonstrate how to calculate the production response from alternative levels of input allocation within an enterprise and among alternative enterprises. (5-7.5-41.7)
|
ABM236ABM2036 |
Profit Maximization IV |
3 |
|
Defines basic economic concepts that enhance the financial success of an agriculture operation. (5-7.5-41.7)
|
ABM237ABM2037 |
Profit Maximization V |
3 |
|
Analyzes production costs and revenue from an economic standpoint. Identifies the production level that allows profits to be maximized. (5-7.5-41.7)
|
ABM238ABM2038 |
Profit Maximization VI |
3 |
|
Examines the concepts that determines how market prices are established in a purely competitive agriculture environment. (5-7.5-41.7)
|
