Applied Economic Consulting
AES is seen as a quality provider of applied economic consulting to agricultural and rural based projects, encompassing the following areas:
- feasibility studies;
- benefit cost analyses;
- valuation of research projects and their financial impact on the rural economy;
- regional economic profiles and associated strategic planning implications;
- farmer case study analyses in relation to sustainability and best practice; and
- implications of planning regulations for economic development and farmers
Regional Economic Consulting
As a team member to a multi-disciplined group, AES has provided the economic input to a number of regional based studies. These studies have required the economic skills of:
- providing the economic profile of a region and describing the interaction between primary production, secondary production and employment. This requires knowledge of data sources, regional studies and the use of economic multipliers;
- conducting a cost sharing analysis with associated benefit costs consideration for combined private and public landcare projects;
- providing comment on the potential business impact of changes in planning regulations; and
- valuing water as a resource to a region.
Applied Economic Modelling
Obtaining solutions to complex agricultural problems is sometimes best achieved through computer financial modelling. This allows a detailed sensitivity analysis to be undertaken. AES has the capability to undertake:
- Deterministic models to assess the ‘what if’ financial implications of changing business strategies. This approach utilises whole farm budgets, partial budgets, development budgets, cash flow budgets and balance sheets;
- Modelling uncertainty with the use of Monte Carlo techniques to objectively measure risk; and
- Linear programming for more complex problems that require the assessment of an optimum solution.
Agricultural Risk Consulting
AES specialises in risk analysis and risk management, specifically related to rural businesses. The company’s services include:
- Risk management training for both farmers and bankers involved in rural lending;
- Business risk assessment and strategy formulation;
- Risk simulation modelling; and
- Undertaking company risk audits.
Training and Education
With the continual advancement of technology and changes to the economic and agronomic environment, there is a continual need for information transfer and training. AES specialises in conducting farmer and banker seminars in the following areas:
- Risk management;
- Plan to Profit (P2P) software and training system; and
- Whole-farm financial and business analysis (benchmarking).
AES has written core learning modules on the topics of rural enterprise management, rural risk management and rural business analysis. These comprise over 50% of the core studies for TAFE’s Australia-wide Rural Business Management Course and have also been accepted as accredited training material for Open Learning Australia. |
