ECONOMIA AGRARIA ED ESTIMO

Module ESTIMO RURALE

Knowledge and understanding – The course provides students with an in-depth understanding of microeconomic principles applied to agricultural production, entrepreneurial decision-making, and the organization and management of the farm business. It also addresses methods of farm economic analysis, business planning, and the evaluation of investments in the agricultural sector.

Applying knowledge and understanding – By the end of the course, students will be able to apply microeconomic models and business analysis methodologies to assess the economic performance of an agricultural enterprise, support managerial decisions, and prepare business and investment plans.

Making judgements – The diversification of teaching activities will help to enhance independent judgement and critical thinking skills. Students will develop the ability to critically analyze data and information related to farm management, identify economic and managerial issues, and propose solutions consistent with the objectives and resources of the agricultural enterprise.

Communication skills – Attendance at lectures and the reading of recommended texts will help students acquire and use technical terminology; the use of study materials in English will also provide the foundations of technical language in this language. The course fosters the development of oral and written communication skills, enabling students to clearly and effectively present economic analyses, business projects, and investment appraisals, including through the use of multimedia tools and technical reports.

Learning skills – At the end of the course, students will have acquired the theoretical and practical tools to continue independently exploring topics in agricultural economics, management, and business planning. These skills will be useful not only for pursuing further studies, but also in contexts of professional development and continuing education.

The teaching methods include lectures, seminars and coworking among students. In addition, teaching visits will be held.

Information for students with disabilities and/or learning disorders.
As a guarantee of equal opportunities and in compliance with current regulations, students can ask for a personal interview in order to plan any compensatory and/or dispensatory measures, based on their specific needs and on learning objectives of the discipline. It is also possible to refer to the departmental contacts of CInAP (Center for Active and Participatory Inclusion - Services for Disabilities and/or learning disorders).
If the course is delivered in blended or remote mode, appropriate adjustments may be made to the above, in order to ensure consistency with the syllabus.

Useful Prerequisites:

• Fundamental concepts of mathematics applied to economics (functions, derivatives, systems of equations).

1. Elements of financial mathematics:

• Financial transactions; interest regimes; mound factor; discount factor; valuation of annuities; mound of annual annuities; present value of annual annuities; reinstatement fee: amortisation fee; mound of multi-year annuities; present value of multi-year annuities.

2. Elements of statistics: 

• Statistical surveys; measurement scales; descriptive statistics; probability and probability distributions; statistical induction; point estimation, interval estimation and hypothesis testing; simple and multiple regression analysis.

3. General valuation: 

• Estimation postulates; criteria for estimation; market-oriented estimation procedures: mono-parametric procedures; general estimation system; Nearest Appraisal Technique (NAT); 
  cost estimation procedures; depreciation estimation; income capitalisation estimation procedures; land market analysis; valuation codes and estimation standards; the appraisal report.

• Valuation of rights in rem; valuation in expropriations for public utility; valuation of rural buildings; valuation of a rustic estate; valuation of an estate susceptible to improvement; valuation of fruit arboretums; valuation of pending fruits and crop advances; judgments of convenience on the execution of a land improvement.

6. Resolution of frequently recurring estimation cases

Michieli M., Cipollotti G.B. (2018): Trattato di estimo generale, immobiliare, agrario, forestale, ambientale, legale. Edagricole.

Other teaching material will be made available in the repository STUDIUM and will include:

• Copies of the power points presented during the classes and seminars.
• Scientific articles and other material.
• Examples of solved exam exercises.

Assessment of the student's knowledge will be made according to the following criteria: the student's ability to learn and level of istudy of the topics discussed, property of synthesis and exposition, and the student's ability to argue. To this scope, it is planned:
- a written midterm test including open-ended and multiple-choice questions;
- a final oral test.
The grade is expressed in thirtieths. The exams are considered passed if the student achieves a grade of at least eighteen thirtieths.

The evaluation follows the following scheme:
Unsuitable
Knowledge and understanding of topic: Significant shortcomings and inaccuracies
Ability to analyse and synthesise: Irrelevant with frequent generalisations.
Use of references: Completely inappropriate
18-20
Subject knowledge and understanding: Very modest with evident imperfections
Capacity for analysis and synthesis: Barely adequate
Use of references: Just appropriate
21-23
Knowledge and understanding of the subject matter: Knowledge is slightly above the minimum acceptable level
Ability to analyse and synthesise: a fair bility to analyze and synthesize information, presenting arguments in a logical and coherent manner
Use of references: Uses standard references
24-26
Knowledge and understanding of subject matter: Good knowledge
Analysis and synthesis abilities: Good analytical and synthesis abilities, arguments are presented consistently
Use of references: Uses standard references
27-29
Knowledge and understanding of the subject: Knowledge more than good
Capacity for analysis and synthesis: Considerable abilities of analysis and synthesis
Use of references: The topic has been explored in depth
30-30L
Knowledge and understanding of the subject: Execellent knowledge
Capacity for analysis and synthesis: Excellent abilities of analysis and synthesis
Use of references: Important insights

Learning assessment may also be carried out on-line, should the conditions require it.

To ensure equal opportunities and in compliance with current laws, students may request a personal interview in order to plan any compensatory and/or dispensatory measures based on educational objectives and specific needs. Students can also contact the CInAP (Centro per l’integrazione Attiva e Partecipata — Servizi per le Disabilità e/o DSA) through the referring professor within the department, (https://www.cinap.unict.it/content/referenti).

1. Interest and discount schemes
2. Postulates
3. Classification of Estimation Procedures
4. General Estimation System
5. NAT
6. Estimation by income capitalisation
7. Estimation in expropriations for public utility
8. Valuation standards
9. Land and buildings register