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ECONOMICS : LECTURE 1ST | B.Sc Agriculture 2nd Semester Agriculture Economics class, notes, topic1st
AGECON-121
Fundamentals of Agricultural Economics
Theory
Economics: Meaning, scope and subject matter, definitions, activities, approaches to economic analysis; micro and macro economics, positive and normative analysis, Nature of economic theory; rationality assumption, concept of equilibrium.. Basic concepts: Goods and services, desire, want, demand, utility, cost and price, wealth, capital, income and welfare. Agricultural economics: meaning, definition, characteristics of agriculture, importance and its role in economic development. Dernand: meaning, law of demand, demand schedule and demand curve, determinants, utility theory, law of diminishing marginal utility, equi-marginal utility principle. Consumer's equilibrium, concept of consumer surplus. Elasticity of demand: concept and measurement of price elasticity, income elasticity and cross elasticity. Production: process, creation of utility, factors of production, input output relationship. Laws of returns: Law of variable proportions and law of returns to scale. Cost: Cost concepts, short run and long run cost curves. Supply: Stock v/s supply, law of supply, supply schedule, supply curve, determinants of supply, elasticity of supply. Market structure: meaning and types of market, basic features of perfectly competitive markets. Price determination under perfect competition in short run. Distribution theory: meaning, factor market and pricing of factors of production. Concepts of rent, wage, interest and profit. National income: Meaning and importance,
concepts of national income accounting and approaches to measurement. Population: Importance, Malthusian population theory, current policies and programmes on population control. Money meaning and functions of money, general price index, inflation and deflation. Banking: types of banks, functions of commercial Bank. Tax: meaning, direct and indirect taxes, agricultural taxation, VAT & GST. Economic systems: meaning of capitalistic, socialistic and mixed economies
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bsc ag 3rd semester syllabus
Fundamentals of Agronomy II
Crop Production Technology I (Rabi crops)
Fundamentals of Soil Science II
Fundamentals of Agricultural Entomology II
Fundamentals of Plant Pathology II
Fundamentals of Genetics
Fundamentals of Crop Physiology
Fundamentals of Agricultural Economics
Fundamentals of Agricultural Extension Education
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