Machine Cost Accounting

MOOC (Massive Open Online Course) as continuing education offerings of the International Master's Program in Agricultural Management

Successful and efficient agriculture requires good management. In order to be able to make economic decisions, agricultural engineers and farmers need distinctive specialist knowledge. This is what the course teaches using real farm examples.

MOOC 1_DE  |  Machine Cost Calculation

Course description

 The aim of the course is to teach theoretical principles for decisions in production and the subsequent presentation on concrete practical examples. In doing so, the course deals primarily with the area of procurement of long-term means of production such as tractors. The question of whether the long-term means of production should be purchased or better rented is dealt with. On the example of such question the theoretical bases of economic decisions are represented and discussed. Subsequently, the developed theoretical bases are applied to concrete practical examples. The results obtained will be explained and evaluated from the point of view of decision makers.The course also uses Moodle. For each module, a discussion and question session is scheduled in a virtual chat room to which all users have access.

What will I learn in this course?

• Define costs neatly, explain cost categories and apply the terms to typical examples in agriculture.
• Define and apply machine costs, process costs, comparative costs.
• Calculate total costs per year and costs per unit of input, such as tractor hour or hectare, and interpret them appropriately.
• Calculate minimum input levels for machinery and equipment for typical agricultural inputs and interpret the results appropriately.

What prior knowledge do I need?

A basic knowledge of agricultural sciences (all disciplines) is required to successfully participate in the course.

What is the workload?

Approx. 6 hours per week

Will I get a certificate?

Participants will receive a certificate of attendance and certificate for 2.5 ECP (European Credit Points) if they take the final exam (attendance, at HSWT or at the partner universities).