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Course Overview

Course Overview. Lecture I. First Half of Course. Overview of Risk at the Firm Level Focusing on Agricultural Firms Basics of Probability Theory Expected Utility Risk Aversion Optimal Portfolios Risk Programming Stochastic Dominance. Second Half of Course. Dynamic Decision Rules

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Course Overview

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  1. Course Overview Lecture I

  2. First Half of Course • Overview of Risk at the Firm Level Focusing on Agricultural Firms • Basics of Probability Theory • Expected Utility • Risk Aversion • Optimal Portfolios • Risk Programming • Stochastic Dominance

  3. Second Half of Course • Dynamic Decision Rules • Market Models • Option Models of Risk • State Contingent Approaches

  4. Suggested Text • Ingersoll, Jonathan E., Jr. (1987) Theory of Financial Decision Making Totowa, New Jersey: Rowman & Littlefield. • Hardaker, J.B., R.B.M. Huirne, J.R. Anderson and G. Lien (2004) Coping with Risk in Agriculture 2nd edition London: CABI Publishing. • Chambers, R.G. and J. Quiggin (2000) Uncertainty, Production, Choice, and Agency: The State-Contingent Approach Cambridge, United Kingdom: Cambridge University Press.

  5. Supplemental Text • Anderson, J.R., J.L. Dillon, and J.B. Hardaker (1977) Agricultural Decision Analysis Ames, Iowa: Iowa State University Press. • Barry, Peter J. (1984) Risk Management in Agriculture Ames, Iowa: Iowa State University Press, 1984. • Huang, C.-F. and R. H. Litzenberger (1988) Foundations for Financial Economics New York: North Holland

  6. Website • Primary website: http://ricardo.ifas.ufl.edu/aeb6182.risk/syllabus.html.

  7. Course Grade Weights

  8. Grading Scale

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