About Introduction to Agri. Economics
The course will introduce about the basic concept of Agricultural economics, agricultural economic problems, agricultural economic systems, the concept of scarcity and opportunity cost; and production possibilities; the theory of consumer demand, supply and revenue analysis: meaning of demand and supply, their determinants, function, elasticity; utility and consumer behavior: indifference curve; production and cost analysis: production function, stages of production, the cost concepts, cost function, cost-output relationship; the theory of firm and price determination under perfect and imperfect computation are also parts of this subject. In addition, it will also examine how agricultural economists go beyond individual units and analyze the overall economy by familiarizing students’ with macroeconomic concepts: the concept of national income accounting, macroeconomic goals, performance problems and policy instruments