Farm Management, Production Economics and Planning
Course Outline:
·         Introduction to Farm management — definition, nature, and scope, (2lec)
·         Farm management in relation to other sciences, Farm management and farming systems. (2lec)
·         Management of farm resources (3lec)
·         Production economics; Production relationships — factor-product relationships, factor-factor relationships, product-product relationships,(4lec)
·         Principles involved in farm management decisions- the principle of diminishing return, cost principle, the principle of substitution, the principle of combining enterprise, The principle of equi-marginal returns, the principle of comparative advantages, the principle of time comparison, (4lec)
·         Farm planning, techniques of farm planning; (2lec)
·         Farm budgeting, steps in farm planning and budgeting; (2lec)
·         Introduction to linear programming Farm business analysis, (1lec)
·         Farm records, accounts, and their types; (2lec)
·         Farm inventory;(2lec)
·         Measuring financial conditions, measuring farm profits; (2lec)
·         Farm prices and production efficiency; (1lec)
·         Factors affecting farm cost and incomes (2lec)
·         Risk and uncertainty (1lec)















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