CGA1107 Agricultural Economics

This course introduces the student to the basic principles of agricultural economics and marketing hence the sources of production.

Course objectives

• To enable students explain the various economic principles and concepts
• To enable students identify mobile and manage the farm productive sustainably.

Learning outcomes
At the end of this course the student’s should be able to:

• Explain the meaning of economics and agricultural economics, the meaning of economic principles, the principle of scarcity
• Explain the meaning of demand and supply, the factors that influence demand and supply, elasticity of demand, and the price theory
• Name the various farm production resources; explain the role of various resources in farm productivity, the meaning of production function, calculating the average of product and 3marginal products
• Plot the total, average and marginal product curves and explaining the meaning of diminishing returns, costs, and the different types of costs