Using simulated farm case studies to teach financial and risk management concepts

Todd D. Davis, Tyler B. Mark, Johnathan D. Shepherd

Research output: Contribution to journalArticlepeer-review

1 Scopus citations

Abstract

Two simulated farm case studies provide a means for teaching financial and risk management strategies to western Kentucky grain farmers. Aggregate financial data for 227 grain farms define the case studies, which illustrate how cost and debt affect cash flow and working capital over a 5-year period. Responding to the case studies, farmers were able to discuss these financial concepts in a group setting among competitor neighbors without revealing personal business information. The use of composite financial data engaged the farmers and allowed for improved discussion on risk management products and the potential to protect working capital over multiple years. Extension professionals can apply the methods described.

Original languageEnglish
Article number1TOT1
JournalJournal of Extension
Volume56
Issue number1
StatePublished - Feb 1 2018

Bibliographical note

Publisher Copyright:
© 2018 Extension Journal Inc.

ASJC Scopus subject areas

  • Education

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