Book Detail: Principles of Agricultural Economics

The series concentrates on the principles, techniques and applications of policy analysis, planning and implementation of agricultural and rural development.

Language: English

Pages: 87

Author: Dr. N Sunanda

Price: Free

Course Outline of Principles of Agricultural Economics

Lecture 1: Economics – Meaning, Definitions, Subject matter of Economics – Traditional approach – consumption, production, exchange and distribution

Lecture 2: Modern Approach – Microeconomics and macroeconomics – Methods of economic investigation – Deduction & , Induction

Lecture 3: Agricultural Economics – Definitions, Meaning, Importance of Agricultural Economics – Branches of agricultural economics

Lecture 4: Agricultural production economics- Meaning- Definitions- Subject matter – Objectives – Farm Management – Meaning – scope – Definitions- Objectives

Lecture 5: Agricultural finance – Meaning – Definitions – micro vs macro finance –need for agricultural finance-Agricultural

Lecture 6: Basic terms and concepts in economics – Goods & Services – free and economic goods, Utility – Cardinal and Ordinal approaches. Characteristics of utility – Forms of utility.

Lecture 7: Value – Definition – Characteristics; Price – Meaning, Wealth – Meaning Attributes of wealth, Types of wealth, Distinction between wealth and welfare.

Lecture 8: Law of Diminishing Marginal Utility – statement, assumptions of law, explanation, limitations of the law, Importance.

Lecture 9: Law of Equi-marginal Utility – Meaning, Assumptions, Explanation of the Law, Practical Importance, Limitations.

Lecture 10: Consumer‟s Surplus – Meaning, Assumptions, Explanation, Difficulties in measuring Consumer‟s Surplus, Importance.

Lecture 11&12 Demand – Meaning, Definition, Types of demand – income demand, price demand, cross demand- Demand Schedule, demand curve, Law of demand – contraction and extension, increase and decrease in demand.

Lecture 13&14: Elasticity of demand – Meaning, elastic and inelastic demand, kinds of elasticity of demand, perfectly elastic, perfectly inelastic, relatively elastic, relatively inelastic, unitary elastic demand-types of elasticity of demand-price elasticity of demand- income elasticity-cross elasticity of demand-factors affecting elasticity of demand- practical importance of elasticity of demand.

Lecture 15: Supply – meaning, definition, law of supply, supply schedule, supply curve.

Lecture 16: Increase and decrease in supply, contraction and extension of supply, factors affecting supply.

Lecture 17: Elasticity of supply, kinds of elasticity of supply – perfectly elastic, perfectly inelastic, relatively elastic, relatively inelastic and unitary elastic – factors affecting elasticity of supply.

Lecture 18: Price determination – equilibrium price and quantity – determination of market price

Lecture 19: Markets – definition, essentials of market, classification of market structure –perfect and imperfect markets

Lecture 20: Characteristics of monopolistic competition, monopoly, oligopoly

Lecture 21: National Income –concepts of national income – Gross domestic product, gross national product, net national product, net domestic product- national income at factor cost, personal income, disposable income.

Lecture 22: Methods of measurement of NI – product method, income method and expenditure method

Lecture 23 Public Finance – meaning, Role and importance of Public finance – functions of the government – Differences between public finance and private finance

Lecture 24 Public revenue – meaning, major and minor sources of public revenue

Lecture 25: Tax – meaning, classification – direct and indirect taxes, methods of taxation – proportional, progressive, regressive and degressive taxation, Agril taxation – other types of taxation, VAT.

Lecture 26: Canons of Taxation – Adam Smith„s canons of taxation – equality, economy, certainity and convenience – other canons of taxation

Lecture 27 & 28: Public expenditure – meaning, need for public expenditure. principles of public expenditure

Lecture 29 & 30: Inflation – meaning, definition, types of inflation – demand pull and cost push inflation- comprehensive and sporadic inflation – suppressed and repressed inflation – creeping, walking, running and galloping inflation – mark up inflation Related concepts of inflation, Rate of inflation

Lecture 31 & 32: Causes of inflation – Remedial measures – monetary – fiscal measures.

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