Basics of farm management applied to selection and combination of enterprises, level of production, size of business, labor efficiency, and machinery efficiency. Types of farming, tenure and leasing, risk, prices, credit and starting farming. Business and production records, their analysis and use in budgeting and planning future operations. Prerequisite Math 102. Legal rights and duties of parties to agricultural business transactions - sales, secured transactions, real and personal property, business associations, labor relations, bankruptcy, water and drainage, and livestock.
Emphasis is on South Dakota law.
Prerequisite BAdm 350, junior standing. Principal factors which affect the supply, demand and prices of agricultural commodities. Marketing information in forecasting price trends. Evaluation of alternative marketing strategies, e.g., futures trading, other forward pricing instruments. Alternative agricultural marketing institutions.