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Programme: BScAgric Agricultural Economics: Agribusiness Management

Code Faculty Duration Credits Download
03130050 Faculty of Natural and Agricultural Sciences Duration of study: 4 years Total credits: 602

Admission requirements

  •  In order to register NSC/IEB/Cambridge candidates must comply with the minimum requirements for degree studies as well as the minimum requirements for the relevant study programme. 
  • Life Orientation is excluded in the calculation of the Admission Point Score (APS).
 
  • Grade 11 results are used for the provisional admission of prospective students. Final admission is based on the Grade 12 results.

 

Minimum requirements for 2016
Achievement level
Afrikaans or English Mathematics Physical Sciences APS
NSC/IEB HIGCSE AS-Level A-Level NSC/IEB HIGCSE AS-Level A-Level NSC/IEB HIGCSE AS-Level A-Level
5 3 C C 5 3 C C 5 3 C C 30
 
Candidates who do not comply with the minimum admission requirements may be considered for admission to the BScAgric or the BSc (Four-year Programme) based on the results of the NBT. Please note that students who are placed in the BSc (Four-year Programme) will take a minimum of five years to complete the BSc Agric study programme.

 

 

Other programme-specific information

Students may enrol for AIM 111 and AIM 121 instead of AIM 101 (the same content presented over 2 semesters).

Students who do not qualify for STK 110 must register for STK 113 and STK 123

Elective modules can be chosen from the following: STK 310 (take note of the prerequisites), STK 320, STK 353, WDE 320, EKN 325 and any modules from Animal and Wildlife Sciences and Plant Production and Soil Sciences on 400-level that do not clash on the lecture, practical or examination timetable.

 

Electives are chosen as follows:

Third year – 24 credits

Fourth year – 20 credits

Compilation of curriculum
Students must register for elective modules in consultation with the head of department who must ensure that the modules do not clash on the set timetable.

The Dean may, in exceptional cases and on recommendation of the head of department, approve deviations from the prescribed curriculum.

Promotion to next study year

A student will be promoted to the following year of study if he or she passed 100 credits of the prescribed credits for a year of study, unless the Dean on the recommendation of the head of department decides otherwise. A student who does not comply with the requirements for promotion to the following year of study, retains the credit for the modules already passed and may be admitted by the Dean, on recommendation of the head of department, to modules of the following year of study to a maximum of 48 credits, provided that it will fit in with both the lecture and examination timetable.

Pass with distinction

The BScAgric degree is conferred with distinction if a student obtains a weighted average of at least 75% in the modules of the major subjects in the third and the fourth year of study, with a weighted average of at least 65% in the other modules of the third and the fourth year of study.

Minimum credits: 122

Fundamental modules

Core modules

  • Module content:

    Basic plant structure and function; introductory plant taxonomy and plant systematics; principles of plant molecular biology and biotechnology; adaptation of plants to stress; medicinal compounds from plants; basic principles of plant ecology and their application in natural resource management.

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  • Module content:

    General introduction to inorganic, analytical and physical chemistry. Atomic structure and periodicity. Molecular structure and chemical bonding using the VSEOR model. Nomenclature of iorganic ions and compounds. Classification of reactions: precipitation, acid-base, redox reactions and gas-forming reactions. Mole concept and stoichiometric calculations concerning chemical formulas and chemical reactions. Principles of reactivity: energy and chemical reactions. Physical behaviour gases, liquids, solids and solutions and the role of intermolecular forces. Rate of reactions: Introduction to chemical kinetics.

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  • Module content:

    Theory: General physical-analytical chemistry: Physical behaviour of gases, liquids and solids, intermolecular forces, solutions. Principles of reactivity: energy and chemical reactions, entropy and free energy, electrochemistry. Organic chemistry: Structure (bonding), nomenclature, isomerism, introductory stereochemistry, introduction to chemical reactions and chemical properties of organic compounds and biological compounds, i.e. carbohydrates and amino acids. Practical: Molecular structure (model building), synthesis and properties of simple organic compounds.

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  • Module content:

    The nature and function of accounting; the development of accounting; financial position; financial result; the recording process; processing of accounting data; treatment of VAT; elementary income statement and balance sheet; flow of documents; accounting systems; introduction to internal control and internal control measures; bank reconciliations; control accounts; adjustments; financial statements of a sole proprietorship; the accounting framework.

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  • Module content:

    Property, plant and equipment; intangible assets; inventories; liabilities; presentation of financial statements; enterprises without profit motive; partnerships; companies; close corporations; cash flow statements; analysis and interpretation of financial statements.

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  • Module content:

    Chromosomes and cell division. Principles of Mendelian inheritance: locus and alleles, dominance interactions and epistasis. Probability studies. Sex determination and sex linked traits. Pedigree analysis. Extranuclear inheritance. Genetic linkage and chromosome mapping. Chromosome variation.

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  • Module content:

    Introductory study of the ultra structure, function and composition of representative cells and cell components. General principles of cell metabolism, molecular genetics, cell growth, cell division and differentiation.

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  • Module content:

    *Students will not be credited for more than one of the following modules for their degree: WTW 134, WTW 165, WTW 114, WTW 158. WTW 134 does not lead to admission to Mathematics at 200 level and is intended for students who require Mathematics at 100 level only. WTW 134 is offered as WTW 165 in the second semester only to students who have applied in the first semester of the current year for the approximately 65 MBChB, or the 5-6 BChD places becoming available in the second semester and who were therefore enrolled for MGW 112 in the first semester of the current year.        Functions, derivatives, interpretation of the derivative, rules of differentiation, applications of differentiation, integration, interpretation of the definite integral, applications of integration. Matrices, solutions of systems of equations. All topics are studied in the context of applications.

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Minimum credits: 127

Core modules

  • Module content:

    This module deals with the core principles of economics. A distinction between macroeconomics and microeconomics is made. A discussion of the market system and circular flow of goods, services and money is followed by a section dealing with microeconomic principles, including demand and supply analysis, consumer behaviour and utility maximisation, production and the costs thereof, and the different market models and firm behaviour. Labour market institutions and issues, wage determination, as well as income inequality and poverty are also addressed. A section of money, banking, interest rates and monetary policy concludes the course.

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  • Module content:

    This module deals with the core principles of economics, especially macroeconomic measurement the private and public sectors of the South African economy receive attention, while basic macroeconomic relationships and the measurement of domestic output and national income are discussed. Aggregate demand and supply analysis stands core to this course which is also used to introduce students to the analysis of economic growth, unemployment and inflation. The microeconomics of government is addressed in a separate section, followed by a section on international economics, focusing on international trade, exchange rates and the balance of payments. The economics of developing countries and South Africa in the global economy conclude the course.

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  • Module content:

    Lectures: Food Science as a discipline. Activities of Food Scientists and Nutritionists. How food is produced, processed and distributed (food pipeline). World food problem. Human nutrition and human food requirements. Constituents of foods: Functional properties. Food quality. Food deterioration and control (food preservation). Unit operations in food processing. Food safety, risks and hazards. Principles of food packaging. Food legislation and labelling. Food processing and the environment. Practicals: Group assignments applying the theory in practice; practical demonstrations in pilot plants; guest lecturers on the world of food scientists and nutritionists; factory visit/videos of food processing.

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  • Module content:

    Origin and development of soil, weathering and soil formation processes. Profile differentiation and morphology. Physical characteristics: texture, structure, soil water, atmosphere and temperature. Chemical characteristics: clay minerals, ion exchange, pH, buffer action, soil acidification and salinisation of soil. Soil fertility and fertilisation. Soil classification. Practical work: Laboratory evaluation of simple soil characteristics. Field practicals on soil formation in the Pretoria area.

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  • Module content:

    Introduction to financial management in agriculture: Farm management and agricultural finance, farm management information; analysis and interpretation of farm financial statements; risk and farm planning. Budgets: partial, break-even, enterprise, total, cash flow and capital budgets. Time value of money. Introduction to production and resource use: the agricultural production function, total physical product curve, marginal physical product curve, average physical product curve, stages of production. Assessing short-term business costs; Economics of short-term decisions. Economics of input substitution: Least-cost use of inputs for a given output, short-term least-cost input use, effects of input price changes. Least-cost input use for a given budget. Economics of product substitution. Product combinations for maximum profit. Economics of crop and animal production.

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  • Module content:

    The agribusiness system; the unique characteristics of agricultural products; marketing functions and costs; market structure; historical evolution of agricultural marketing in South Africa. Marketing environment and price analysis in agriculture: Introduction to supply and demand analysis.
    Marketing plan and strategies for agricultural commodities; market analysis; product management; distribution channels for agricultural commodities, the agricultural supply chain, the agricultural futures market.

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  • Module content:

    Influence of climate on cropping systems in South Africa. The surface energy balance. Hydrological cycles and the soil water balance. Sustainable crop production. Simple radiation and water limited models. Potential yield, target yield and maximum economic yield. Crop nutrition and fertiliser management. Principles of soil cultivation and conservation. Climate change and crop production – mitigation and adaptation.

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  • Module content:

    Descriptive statistics:
    Sampling and the collection of data; frequency distributions and graphical representations. Descriptive measures of location and dispersion.
    Probability and inference:
    Introductory probability theory and theoretical distributions. Sampling distributions. Estimation theory and hypothesis testing of sampling averages and proportions (one and two-sample cases). Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Multivariate statistics:
    Analysis of variance, categorical data analysis, distribution-free methods, curve fitting, regression and correlation, the analysis of time series and indices.
    Statistical and economic applications of quantitative techniques:
    Systems of linear equations: drafting, matrices, solving and application. Optimisation; linear functions (two and more independent variables), non-linear functions (one and two independent variables). Marginal and total functions. Stochastic and deterministic variables in statistical and economic context: producers' and consumers' surplus, distribution functions, probability distributions, probability density functions. Identification, use, evaluation, interpretation of statistical computer packages and statistical techniques.
    This module is also presented as an anti-semester bilingual module.

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  • Module content:

    Origin and domestication of farm and companion animals. The ecological environment in which animal production and development is practised. Animal ecological factors that influence regional classification. Livestock species, breeds and breed characterisation and genetic variation. Basic principles of nutrition, physiology, breeding and production organisation of the livestock industry and relevant legislation. Practical work includes identification and classification of different breeds of livestock, as well as the general care and handling of farm stock.

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  • Module content:

    Livestock ecology, interaction between genotype and environment. Production regions and systems. Animal ecological factors to be considered in production factors, planning and management of different livestock production systems. Applied principles of livestock production, production management and systems (large livestock, small stock, pigs and poultry). Conservation farming and adapted farming and management systems; environmental conservation. Practical work will consist of compulsory farm practical during vacation after the 1st year and or during the 2nd year of study in order to understand different animal production systems as well as the general care and handling of farm stock.

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Elective modules

  • Module content:

    *On its own, STK 113 and 123 will not be recognised for degree purposes, but exemption will be granted for STK 110.
    Data operations and transformations:
    Introductory concepts, the role of statistic, various types of data and the number system. Concepts underlying linear, quadratic, exponential, hyperbolic, logarithmic transformations of quantitative data, graphical representations, solving of equations, interpretations. Determining linear equations in practical situations. Characteristics of logarithmic functions. The relationship between the exponential and logarithmic functions in economic and related problems. Systems of equations in equilibrium. Additional concepts relating to data processing, functions and inverse functions, sigma notation, factorial notation, sequences and series, inequalities (strong, weak, absolute, conditional, double) and absolute values.
    Descriptive statistics – Univariate:
    Sampling and the collection of data, frequency distributions and graphical representations. Descriptive measures of location and dispersion. Introductory probability theory.  Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.
    The weekly one hour practical is presented during the last seven weeks of the semester.

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  • Module content:

    *On its own, STK 113 and 123 will not be recognized for degree purposes, but exemption will be granted for STK 110.
    Optimisation techniques with economic applications: Data transformations and relationships with economic applications, operations and rules, linear, quadratic, exponential, hyperbolic and logarithmic functions; systems of equations in equilibrium, system of linear inequalities, solving of linear programming problems by means of the graphical and extreme point methods. Applications of differentiation and integration in statistic and economic related problems: the limit of a function, continuity, rate of change, the derivative of a function, differentiation rules, higher order derivatives, optimisation techniques, the area under a curve and applications of definite integrals. Probability and inference: Theoretical distributions. Sampling distributions.  Estimation theory and hypothesis testing of sampling averages and proportions (one-sample and two-sample cases). Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques. The weekly one hour practical is presented during the last seven weeks of the semester.

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Minimum credits: 192

Core modules

  • Module content:

    Communication: Definition and clarification of concepts. Theory and elements of communication. Verbal and non-verbal communication. Determinants of interpersonal communication. Abating factors impeding communication. Nature, classification and efficiency of communication channels.

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  • Module content:

    Basic principles of law of contract. Law of sales, credit agreements, lease.

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  • Module content:

    Microeconomics
    Microeconomic insight is provided into: consumer and producer theory, general microeconomic equilibrium, Pareto-optimality and optimality of the price mechanism, welfare economics, market forms and the production structure of South Africa. Statistic and econometric analysis of microeconomic issues.

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  • Module content:

    The organised nursery industry in South Africa. Principles: seed production; seed germination; rooting of cuttings; budding and grafting; propagation using specialised organs; micro propagation (tissue culturing). Practices: Greenhouse construction, lighting in the nursery; cooling and heating; soil-based and soil-less growing media; container types; irrigation and fertilisation; growth manipulation; pest and disease management. Management, economic and marketing aspects of a typical nursery operation. Students will get hands-on experience and will visit nurseries.

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  • Module content:

    Historical evolution of South African agricultural policy. Agriculture and the state: reasons for government intervention. Theoretical aspects of agricultural policy. Introduction to agricultural policy analysis. Welfare principles, pareto optimality. Macroeconomic policy and the agricultural sector. International agricultural trade.

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  • Module content:

    The modern food and agribusiness system. Key drivers in the global context. Whole farm planning and budget development The financial analysis of farm financial, financial modelling, the financing decision: capital acquisition, creditworthiness, different capital sources, capital structures. The investment decision and working capital management. Value chains in agribusiness. Risk management. Strategic management and marketing principles in agribusiness. Operational management and human resources management. Business planning for agribusiness.

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  • Module content:

    Counting techniques. Probability theory: Sample spaces, events, rules of probability, conditional probabilities, independent events and Bayes’ theorem. Probability distributions and probability densities: cumulative distribution functions, marginal distributions, joint distributions, conditional distributions and independence. Expected values: Moments, Chebyshev’s theorem, moment-generating functions, product moments, moments of linear combinations of random variables and conditional expectations. Transformation techniques of random variables. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Special probability distributions: the discrete uniform distribution, Bernoulli distribution, binomial distribution, negative binomial and geometric distribution, the hypergeometric distribution, Poisson distribution and multinomial distribution. Special probability densities: Uniform distribution, gamma, exponential and chi-square distributions, the beta distribution, the normal distribution and the bivariate normal distribution. Functions of random variables. Sampling distributions, point estimation, interval estimation and hypothesis testing. Regression Analysis. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Microeconomics
    From general equilibrium and economic welfare to uncertainty and asymmetric information. In this module we apply the principles learned in EKN 224 on the world around us by looking at the microeconomic principles of labour and capital markets, as well as reasons why the free market system could fail. We touch on the government’s role in market failures. The course includes topics of the mathematical and econometric analysis of microeconomic issues.

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Elective modules

  • Module content:

    Botanical characteristics, classification, growth requirements, production practices and utilization of crops rich in starch, oil and protein, fibre crops, tobacco, sugarcane and medicinal plants. Visits to research institutions and producers.

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  • Module content:

    Quantitative description and measurement of soil water content and potential as well as saturated and unsaturated hydraulic conductivity. Modelling water flow in soil (Darcy’s law, Richards's equation). Infiltration, redistribution, evaporation, runoff and percolation. Irrigation in South Africa. Modelling and managing the soil water balance. Plant water consumption and the soil-plant-atmosphere continuum. Irrigation scheduling (soil, plant and atmosphere approaches). Managing poor quality water. Irrigation systems. The module includes a field trip to an irrigation scheme.

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  • Module content:

    Regression analysis: simple and multiple regression; nonlinear regression; correlation and the use of dummy variables. Multivariate distributions: normal, multinomial and poisson distribution. Linear combinations of normal variables. Analysis of variance and covariance. Categorical data analysis. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.

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  • Module content:

    Regression analysis extensions: heteroscedasticity, serial correlation and lag structures. Time-series analysis. Applications of matrices, differentiation and integration in the economic and management sciences. Evaluation of simple economic models. Theory and applications of time-series models: univariate time series. Stationary and non-stationary time series. ARMA and ARIMA models. Regression models. Model identification and estimation. Spectrum and periodogram. Forecasting with time-series models. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques. Student seminars.

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  • Module content:

    The establishment and use of planted pastures species and fodder crops and the
    conservation of fodder. This will enable students to advise users on establishment and utilization of planted pastures species as well as farmers on the production,
    conservation and optimum use of fodder. This will also form a basis for further research on planted pastures.

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Minimum credits: 161

Core modules

  • Module content:

    Overview of the concepts and theories of rural development; the role of agriculture in rural development. Rural livelihood systems: household farming systems; decisions and the operation of farming systems; non-farm enterprises and SMMEs in the rural economy; household food security. Rural institutions: definitions and role of institutions; land tenure; rural financial markets; local institutional development; human capital, knowledge systems. Methodologies for rural development: the farming systems approach; participatory techniques; assessment of land use patterns (zoning techniques); typology techniques; technology transfer and decision-making support; communication for rural development; planning rural development at local level.

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  • Module content:

    International trade/finance
    International economic insight is provided into international economic relations and history, theory of international trade, international capital movements, international trade politics, economic and customs unions and other forms or regional cooperation and integration, international monetary relations, foreign exchange markets, exchange rate issues and the balance of payments, as well as open economy macroeconomic issues.

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  • Module content:

    This module will focus on the fundamentals of demand, supply and agricultural price analysis. After providing an appropriate background in the theoretical concepts of demand and supply these basics will be applied in the generation of econometric simulation models. This will include the identification of supply and demand shifters as well as the elasticities, flexibilities, and impact multipliers. Practical experience in the formulation of these models will be attained from practical sessions. The student will submit a project in which he/she must analyse the demand or supply patterns of a commodity of his/her choice by generating an econometric model. Agricultural price analysis: price determination under different market structures followed by practical sessions on measuring market structures in various ways. This will include the calculation of market concentration. Price trend analysis and measurement of price changes by using indexes, and especially seasonal indexing. All of this will be supported by the relevant practical sessions.

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  • Module content:

    Derivative instruments in agriculture: To prepare students for taking the SAFEX Agricultural Markets Division brokerage exam. Giving an in-depth knowledge on the importance of hedging. Giving an in-depth knowledge on designing and implementation of low/zero risk hedging strategies. Introduction to the mathematics of portfolio management and mathematical modelling of derivatives. Working knowledge of the mathematical relationships in the management of a hedged portfolio. Working knowledge on the applicable software for managing derivative portfolios. Introduction into the management of option portfolios. To expand the thinking on the uses of derivatives, by also dealing with the hedging of diesel cost, interest rates and weather events.

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  • Module content:

    Price and production function analysis. Input -output, input -input and product -product relationships; profit maximization; the production process through time, economies of size; decision making in agriculture under risk and uncertain circumstances; linear programming.

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  • Module content:

    This module reviews the origins and evolution of natural and environmental resource economics and its present-day main paradigms. Sources of externalities and causes of environmental degradation are examined. An introduction to the concepts and methods backing the design and implementation of environmental policies are provided. Economic valuation of natural and environmental resources is introduced.

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Elective modules

  • Module content:

    Determining the resource potential of land on the basis of botanical composition, vegetation cover, animal grazing and browsing potential, water quality, soil quality, chemical, physical and biological soil degradation, soil erosion and other important environmental processes etc. which are essential for integrated agricultural land use practices. Evaluation of grasses and other vegetation types in terms of environmental adaptation, acceptability and adaptability to a sustainable utilization system and the management requirements of an integrated and adaptive management system.

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  • Module content:

    Introductory aspects of wildlife conservation, habitat management, wildlife nutrition and keeping wildlife in zoological gardens.

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  • Module content:

    Integration of agronomic, pedological, botanical, economic and management considerations in crop production systems with a view to sustainable maximum economic yield. Case studies of specific crops.

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The information published here is subject to change and may be amended after the publication of this information. The General Regulations (G Regulations) apply to all faculties of the University of Pretoria. It is expected of each student to familiarise himself or herself well with these regulations as well as with the information contained in the General Rules section. Ignorance concerning these regulations and rules will not be accepted as an excuse for any transgression.

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