Production Economics & Farm Management – ICAR eCourse PDF Book

Book Detail:

Language: English

Pages: 117

Author: TNAU

Price: Free

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Course Outline AECO342 – PRODUCTION ECONOMICS AND FARM MANAGEMENT

1. Introduction to Farm Management
2. Farm management decision making process ? Production, operational, strategic, administrative and marketing management decisions.
3. Basic concepts in farm management. Production, types of resources, choice indicators, costs, revenue, profit, total, average & marginal concepts.
4. Factor – Product relationship – Production function – definition & types – linear, quadratic & Cobb- Douglas functions – Impact of technology.
5. Law of diminishing returns – 3 regions of production
6. Cost concepts & interrelations – Optimum level of input use and optimum production
7. Economies of scale – external and internal economies and diseconomies – Returns to scale – Economies
8. Factor – Factor relationship – Principle of substitution – isoquant, isocline
9. Expansion path, ridgeline and least cost combination of inputs
10. Product – Product relationship – types. Production possibility curve, iso revenue line and optimum combination of outputs
11. Equi-marginal returns and Opportunity cost – comparative advantage
12. Concepts of Risk and uncertainty – types of uncertainty in agriculture – anagerial decisions to reduce risks in production process
13. Management of Important Farm Resources
14. Farm Financial Analysis – Balance sheet – Income statement – Cash flow analysis – Ratio analysis
15. Farm Investment Analysis – Time comparison principles – Discounted and undiscounted measures.
16. Farm planning and control – Elements of planning, objectives, steps and formulation of farm plans – Farm level management information systems.
17. Farm Budgeting ? partial, enterprise and complete budgeting.

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