Upon successful completion of the course, students will be able to understand the broader concept of production linked to the economic return and the cost of each crop, the concept of fixed capital, the broader concept of damage to agricultural production and fixed capital, the concept of extreme and severe weather phenomena, the potential damage to agricultural production and fixed capital, the mechanism of damage caused by extreme and severe weather events, the ways and techniques of avoiding or mitigating damage caused by such events, the rules of agricultural insurance, the ways and ethics of conducting the assessment process in various crops.