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Risk Management Education and Rational Choice Theory Activity: Making Learning Easier for Beginning Farmers

Michael Elonge

Summary

Most GED beginning urban farmers find it difficult to understand risk in farming after Day-1 and Day-2 of introduction to farm risk management. On day-3, the educator decided to elevate learning by introducing activities on the choice of occupation derived from the economics theory of Rational Choice (a function of information, preferences, and options). On day-4, the educator decided to replicate day-3 activities but this time replaced occupation with risk.

Objective: To increase learning interest and knowledge gain in risk management education.

The methodology of activity based on class days:
Day-1 and Day-2: Educator introduced 5-farm risk. The evaluation indicated difficulties in learning.
Day-3 and Day-4: Rational choice activities: The Educator assigned 15 participants to five Zoom breakout rooms asked them:
Day-3
1. Make a list of five possible occupations of their choice.
2. State two reasons for choosing each occupation.
3. Prioritize occupations base on their preference.
4. Explain the rationale for prioritizing.
Day-4
1. Reviewed farm risk.
2. Reviewed five farm risks (Production, Marketing, Finance, Human resources, and Legal).
3. Assigned participants to their original breakout room team.
4. Asked teams to prioritize their understanding of the five risks.
5. Asked teams to explain the rationale for prioritizing.
Evaluation: Evaluations of the pre and post surveys indicated significant outcomes.

Outcomes: Class evaluation indicated a significant increase in knowledge and interest (pre-evaluation 52%, Post 82%) indicating the benefit of the activities.

Details

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