Semester IV
Principles of Agricultural Economics and Farm Management
AEC 221 · 2 (2+0) credit hours
Syllabus
Topic-wise syllabus
Theory
28 topics · 32 lectures
| No. | Topic | Lectures |
|---|---|---|
| Unit I | ||
| 1 | Economics: Meaning, scope and subject matter, definitions, activities, approaches to economic analysis | 1 |
| 2 | Micro and macro-economics, positive and normative analysis | 1 |
| 3 | Nature of economic theory; rationality assumption, Concept of equilibrium, Economic laws as generalization of human behavior | 1 |
| 4 | Basic concepts: Goods and services, desire, want, demand, utility | 1 |
| 5 | Basic concepts: Cost and price, wealth, capital, income and welfare | 1 |
| 6 | Agricultural economics: meaning, definition, characteristics of agriculture, importance and its role in economic development | 2 |
| 7 | Agricultural planning and development in the country | 1 |
| 8 | Demand: meaning, law of demand, demand schedule and demand curve, determinants | 1 |
| 9 | Utility theory; law of diminishing marginal utility | 1 |
| 10 | Equi-marginal utility principle | 1 |
| 11 | Consumer's equilibrium and derivation of demand curve, concept of consumer surplus | 1 |
| Unit II | ||
| 12 | Elasticity of demand: concept and measurement of price elasticity, Income elasticity and cross elasticity | 1 |
| 13 | Production: process, creation of utility | 1 |
| 14 | Factors of production, input output relationship | 1 |
| 15 | Laws of returns: Law of variable proportions and law of returns to scale | 1 |
| 16 | Cost: Cost concepts, short run and long run cost curves | 1 |
| 17 | Supply: Stock v/s supply, law of supply, supply schedule, supply curve, Determinants of supply | 1 |
| 18 | Elasticity of supply | 1 |
| 19 | Distribution theory: Meaning, factor market and pricing of factors of production | 1 |
| 20 | Concepts of rent, wage, interest and profit | 1 |
| Unit III | ||
| 21 | National income: Meaning and importance, circular flow | 1 |
| 22 | Concepts of national income accounting and approaches to measurement, difficulties in measurement | 1 |
| 23 | Population: Importance, Malthusian and Optimum population theories, natural and socio-economic determinants, current policies and programs on population control | 2 |
| 24 | Money: Barter system of exchange and its problems, evolution, meaning and functions of money, classification of money | 2 |
| 25 | Money supply, general price index, inflation and deflation | 1 |
| 26 | Economic systems: Concepts of economy and its functions, important features of capitalistic, socialistic and mixed economies | 1 |
| 27 | Elements of economic planning | 1 |
| 28 | Forms of business organizations, international trade and balance of payments, GST and its implications on Indian economy | 2 |
Study material
Notes
Hindi
Being added
English
Being added