AGRICULTURAL ECONOMICS
- Course
- ECON110 - AGRICULTURAL ECONOMICS
- Department
- Institute of Graduate Studies and Research
- Course Type
- Scientific Preparation
- Status
- Required
- Language
- English
- Credit
- 0
- ECTS
- 0
- T+P+L
- 3 + 0 + 0
- Course Coordinator(s)
- Asst. Prof. Dr. Isah WADA
- Prerequisite
- -
- Keywords
- -
Course Description
Agriculture is a very distinctive form of economic activity: it produces food which is necessary for human life, it is seasonal and geographically bound, its output is quite perishable, the storage is quite expensive; in most of the world the ways of agriculture are tradition-bound small-scale economic activity, very strictly influenced by the prevalent types of land tenure. The small farmer is almost always a price taker. This course is designed to educate future farmers to calculate their costs correctly, to set up their cash flows properly, to understand the market for agricultural commodities and position themselves accordingly, to search for new ideas and to formulate them in the form of a business plan and to realize this plan.
AGRICULTURAL ECONOMICS
Evaluation Tools (Active Term)
| Item | Type | Weight (%) |
|---|---|---|
| Quiz 1 | Quiz | 15 |
| Quiz 2 | Quiz | 15 |
| Midterm | Midterm | 30 |
| Final | Final | 40 |
| Total | 100 | |
Course outcomes
- 01 Cognizance tht agriculture is indeed a type of business enterprise
- 02 Awareness of risks particular to agriculture
- 03 Awreness of the spcificity of markets in agricultural commodities
- 04 Appreciation fo the different types of costs particular to agriculture
- 05 Apreciation of the improtance of cash flows and money managemet
Course Syllabus
| Week | Topic |
|---|---|
| Week 1 | Agriculture as a business enterprise |
| Week 2 | Risk and risk takers. Risks closely associated with agriculture. Examples |
| Week 3 | The business idea and its appliation to agriculture. Cases |
| Week 4 | Fixed and variable costs in agriculture. Studies with numerical examples |
| Week 5 | Break-even analysis in agriculture. Cases and examples |
| Week 6 | Market power and competition. Types of markets |
| Week 7 | Cases of market types in agriculute. Real life examples of market power |
| Week 8 | Mid term exam week |
| Week 9 | Markets of agricultural commodities. Some lessons to the producers |
| Week 10 | Sensitivity analysis. Case studies |
| Week 11 | Further cases of sensitivity analysis |
| Week 12 | Cash flow analysis |
| Week 13 | Cash flow anlysis - examples and real cases |
| Week 14 | Success stories in contemporary agiculture |
| Week 15 | Final exam week |
Reference Books & Course Materials
- 01 Drummond, H, and Goodwin, Johnd W: "Agricultural Economics", third eition Pearson ISBN-13-978-01-36071921
Learning Outcomes
No learning outcomes have been defined.
Program Outcomes
- PCST PÇ1: Develop and deepen knowledge acquired in plant science and technologies based on undergraduate level competencies.
- PCST PÇ2: Understand the interaction between plant science and technologies field and related disciplines.
- PCST PÇ3: Combine and interpret the theoretical and practical knowledge related to horticultural plants with the knowledge, data and findings obtained from different disciplines, to be able to create new knowledge and theories by synthesizing them by using the theoretical and practical knowledge related to horticultural plants in the field of expertise and supporting the current developments with quantitative and qualitative.
- PCST PÇ4: Solve problems by using research methods and solving cause and effect relationships.
- PCST PÇ5: Conduct a study requiring expertise on plant science and technologies independently.
- PCST PÇ6: Develop an analytical approach for solving unpredictable complex problems encountered in applications of plant science and technologies, to design the research process, to produce solutions by taking responsibility and to evaluate and defend the results obtained.
- PCST PÇ7: Lead the plant science and technologies in an environment that requires solving problems.
- PCST PÇ8: Access to resources related to plat science and technologies, benefiting from these resources and self-renewal.
- PCST PÇ9: Transfer his / her studies, developments in his / her field of expertise and research results using oral, written and visual tools.
- PCST PÇ10: Use advanced computer software and information and communication technologies as necessary in relation to plant science and technologies.
- PCST PÇ11: Collect data with scientific methods for solving problems related to plant science and technologies, to be able to control and interpret the collected data by taking into consideration the social, scientific and ethical values.
- PCST PÇ12: Utilize and explain integrated knowledge in plant science and technologies in interdisciplinary studies, communicate it effectively, and critically evaluate the conclusions drawn.
Po-Lo Matrix
The PO-LO matrix has not been populated yet.