751-0423-00L  Risk Analysis and Risk Management in Agriculture

SemesterAutumn Semester 2022
LecturersR. Finger
Periodicityyearly recurring course
Language of instructionEnglish



Courses

NumberTitleHoursLecturers
751-0423-00 GRisk Analysis and Risk Management in Agriculture2 hrs
Thu14:15-16:00ML J 34.3 »
R. Finger

Catalogue data

AbstractAgricultural production is exposed to various risks and risk management is indispensable. This course introduces modern concepts on farmers' decision making under risk and risk management. We present innovative insights, emprical example from European agriculture. You gain hands-on experience using R.
Objective-to develop a better understanding of decision making under uncertainty and risk;
- gain hands-on experience in risk analysis and management using R
-to gain experience in different approaches to analyze risky decisions;
-to develop an understanding for different sources of risk in agricultural production;
-to understand the crucial role of subjective perceptions and preferences for risk management decisions;
-to get an overview on risk management in the agricultural sector, with a particular focus on insurance solutions
Content- Quantification and measurement of risk
- Risk preferences, Expected Utility Theory, Cumulative Prospect Theory
- Production and input use decisions under risk
- Portfolio Theory and Farm Diversification
- Forwards, Futures, Crop Insurance
- Weather Index Insurance and Satellite Imagery
- Empirical Applications using R
Lecture notesHandouts will be distributed in the lecture and available on the moodle.
Prerequisites / Noticeknowledge of basic concepts of probability theory and microeconomics

Performance assessment

Performance assessment information (valid until the course unit is held again)
Performance assessment as a semester course
ECTS credits3 credits
ExaminersR. Finger
Typegraded semester performance
Language of examinationEnglish
RepetitionRepetition only possible after re-enrolling for the course unit.

Learning materials

No public learning materials available.
Only public learning materials are listed.

Groups

No information on groups available.

Restrictions

There are no additional restrictions for the registration.

Offered in

ProgrammeSectionType
Agricultural Sciences MasterAgricultural Economics and PolicyWInformation
Agricultural Sciences MasterMethods in Agricultural EconomicsW+Information
Environmental Sciences MasterMinor in Environmental, Resource and Food EconomicsWInformation