Production Economics and Farm Management (Paper Code: 17010501)

Production economics: meaning, definition, nature and scope of agricultural production economics; basic concepts and terms; concepts of production; production function: meaning,

definition, types, and laws of returns-increasing, constant and decreasing Factor-product relationship; determination of optimum input and output levels; factor- factor relationship;

product- product relationship; types of enterprise relationships.Farm management: meaning, definition, importance;

economic principles applied to the organizational farm business.Types and systems of farming, farm planning and budgeting, risk factors and uncertainty.

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Computation of different costs and their application

Different methods of computation of depreciation

Analysis of net worth statement, farm inventory analysis and systems of book keeping; preparation of farm plans and budgets

types of farm records and accounts; preparation of profit and loss account statements

Economic analysis of different crop and livestock enterprises.

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