I. General Information

1. Course Title:
Managing A Farm System in A Global Economy

2. Course Prefix & Number:
FBMT 1213

3. Course Credits and Contact Hours:

Credits: 2

4. Course Description:

This course assists the students in achieving awareness of development in agricultural policies and practices throughout the world and assessing the impact of these policies and practices on the profitability and viability of their farm business.

5. Placement Tests Required:

6. Prerequisite Courses:

There are no prerequisites for this course.

9. Co-requisite Courses:

There are no corequisites for this course.

II. Transfer and Articulation

1. Course Equivalency - similar course from other regional institutions:

III. Course Purpose

1. Program-Applicable Courses – This course is required for the following program(s):

Name of Program(s)	Program Type
Essentials in Farm Business Management	Certificate
Applications in Farm Business Management	Certificate
Advanced Farm Business Management	Certificate
Commodity Marketing	Certificate

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Apply abstract ideas to concrete situations	Discuss worldwide agricultural practices and the implications of those policies on the farm business
Discuss/compare characteristics of diverse cultures and environments	Discuss world markets and agricultural practices

2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of the course:

Expected Outcome	MnTC Goal Area
Examine selected agricultural policies and practices throughout the world that influence US agriculture.
Explain how world agricultural policies and practices impact on the farm business they are actively engaged in operating and managing.

V. Topical Outline

Listed below are major areas of content typically covered in this course.

1. Lecture Sessions

I. Identify global markets and competitors

A. list global markets (who will buy our products)

B. list competitors (who else can provide the same product)

C. describe how each one affects the business.

II. Assess farm technology needs to compete in global markets

A. identify potential technology that will improve competitive advantage

B. examine what technologies are or are not acceptable to target market

C. evaluate the cost for selected technology

D. evaluate the benefits of the selected technology

III. Identify the competitive advantages of the farm business in a global economy

A. comparison is based on important features or attributes of the farm business

B. comparison includes advantages of the farm business

C. comparison includes disadvantages of the farm business

D. comparison includes logical conclusions drawn from the comparison

IV. Analyze the impact of global policies and economics on the farm business

A. explain how currency relationships can affect the farm business

B. describe how global policies can affect the farm business

C. describe how global economics can affect the farm business

V. Relate global environmental issues to the farm business

A. list current environmental issues

B. identify the current issue related to farm business

C. identify corrective measures to the identified issues