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Synopsis – Agricultural Economics

Synopsis - Agricultural Economics

COURSES SYNOPSIS

AEC 500  PROJECT (4 CREDITS); AEC 501  SEMINAR (1 CREDIT)

ABF 510  PRODUCTION ECONOMICS  (2  CREDITS):  Scope and nature of production economics.  Theory of production. Production relationships. Goal of production.  Nature and structure of farm resources.  Organization of production-Farm cost functions. Agricultural supply functions, production- planning research:  the linear programming approach.

ABF 511 STATISTICS AND RESEARCH METHODS:                                                                                            Meaning of  Research, defining a research problem, developing research objectives and hypotheses principle of  research  design and methods of date collection.  Criteria for preparing a good questionnaire presentation of research proposal.  Stages of research  project. Presentation of research results and citing of References/ Bibliographics.

Meaning of  statistics and its functions, Different statistical methods for handling data, Classification and Tabulation of data:  Frequency distribution, Measures of Central Tendencies, Measure of Dispersion, graphs, Histogram pie and Bar Charts.  Tests of Hypotheses and significance for both large and small sample sizes.  Z-Tests.  Tests relating to proportions, T-tests, Chi-square, Simple regression and Correlation, Analysis of Variance(Anova).  Multiple Regression and Correlation Analysis.  The above tests will be applied using Agricultural Examples.

ABF 512  AGRICULTURAL MARKETING (2 CREDITS) : Theoretical concept of Marketing, Marketing functions, institutions, prices, cost, efficiency analysis, Conduct of market research. Market improvement techniques.  Case studies.  The four P’s of marketing, product life cycle market development

ABF 523 AGRIBUSINESS MANAGEMENT  (2 CREDITS): Basic Concepts and scope of Agribusiness Management, Agribusiness orgainsation and food system Theories of Effective Agribusiness Management Agribusines Enterpris Management (Management process, production management, Marketing Management, Financial Management and personnel Management).  Public and policies affecting Agribusiness Management .  Agribusiness risk Management.  Aspects of Law in Agribusiness Management.

ABF 521 FARM MANAGEMENT AND ACCOUNTING  (2 CREDITS): Decision making process, depreciation techniques of asset, farm budgeting, farm planning and analysis, problems of organization and managing farms, linear programming.  Kinds and functions of farm records and accounts, basic principles of accounting, nature of simple farm account, farm records and inventories, the balance sheet, journal and ledger, profit and loss statement preparation, adjusting entries.

ABF 522  AGRICULTURAL FINANCE AND INSURANCE  (2 CREDITS):   Principles of agricultural finance, principles of farm credit, capital needs of agricultural industries, sources of loan funds and collateral security or loans credit agencies and government credit policy and approaches to efficient credit management, investment analysis.  Principles of compounding and discounting Methods of loan repayment.  Analysis of Farm financial stgatement, ratio, breakeven cash flow.  Nature of contract of insurance regulation and protection, life insurance, fire insurance other forms of insurance, problems of  insurance in Agribusiness.

AEC 521                OPERATIONS RESEARCH  ( 2 CREDITS): Meaning and scope Techniques of Operations Research.  Simple tools used in operation Research.  Queuing Models.  Inventory Models.  Allocation Models.  Game Theory.  Decision Theory under Risk and Uncertainty.  Introduction to game theory and replacement models.

AEC 511                INTRODUCTION TO ECONOMETRICS (2 CREDITS): Definition, branches and Methodology of econometrics.  Simple linear regression.   Test of significance of parameter Estimates.  Estimation with bad or deficient data.  Non Linear functions and least squares.  Multiple regression.  Special problems in Econometrics; auto-correlation, multi-co linearity, heterescedasticity  etc.  Dummy variables.  Statistical data analysis.  The methods and application of econometrics to Agricultural problems.

AEC 512  MICROECONOMIC THEORY  (2 CREDITS):  The theory of consumer behavior, theory of production, traditional versus modern theory of cost, theory of the firm; perfect competition, monopoly, monopolistic competition and oligopoly.  The theory of distribution, general equilibrium theory and welfare economics.

AEC 513  MACROECONOMICS THEORY ( 2 CREDITS):  National income accounting and the circular flow of income, consumption function and the absolute income, relative income and the past income hypotheses.  Theory of income determination; equilibrium  income and multiplier in a closed economy without a government sector/open economy with government sector. Investment and equilibrium in the product market.  The money market:  the supply of money, the demand for money and equilibrium in the money market.  The theory of income determination:  the product and money markets.  The labour market equilibrium.  Simultaneous operation of commodity; money and labour market and income determination . theory for inflation, unemployment, economic growth, business cycles and balance of payments.

AEC 522 ECONOMIC DEVELOPMENT, POLICY AND PLANNING  (2 CREDITS):

Basic Concepts:             Development and  Under-development, Economic and non economic factors in  Development experience.  Survey of development theories from classical  to modern times.  Patterns of third World Development.  Resources in development: the role of population, labour, education, health, capital fiscal and financial policies, foreign investment, trade and technology.  History and rationale of economic planning.  Plan scopes and horizons.  The organization of planning.  The planning processes:   assessment of initial conditions, forecasting, plan elaboration, implementation, monitoring.  Planning decision models.  Concept of rolling plan.  Difficulties of planning in developing countries.  A review of planning experience in Nigeria.

AEC 523   AGRICULTURAL PROJECT APPRAISAL MANAGEMENT AND EVALUATION ( 2 CREDITS):            Definition and scope of project. Procedure and data requirements for appraised and evaluation of agricultural projects and programmes; identification of cost and benefits.  Project life cycle, cash flow statements rules and conventions for preparing a cash flow statement.  Discounted cash statement, investment criteria – Net present value (NPV) cost benefit ratio, internal rate of  return. Other discounting techniques.  Loan repayment sensitivity analysis, cost effectiveness analysis, net work analysis.  Project management.  Case studies and practical problems of project evaluation in developing  countries.

AEC 524 AGRICULTURAL POLICY AND TRADE(2CREDITS):                                                                                          Definition of economic Policy, microeconomic policy and macroeconomic policy tools or instruments- rules and regulations, taxation, government expenditure.  Macroeconomic policy variables – unemployment, price level, balance of payment and growth rate policy conflicts.  Agricultural policy in Nigeria – the main elements, Agricultural Trade Policy.  Evaluation of Agricultural Policies and programmes.  Agricultural and food policy problem international trade.  Balance of trade, commodity agreements.  International documentation. International Trade Payments.  Organization of International trade-marketing strategies, role of shipping and forwarding agents.

AEC 525   INTERNATIONAL FINANCE  (2 CREDITS):   The evolution and history of  International Banking.  Theories of foreign exchange, economics of exchange rate, euro-dollar market.  Balance of payment, theory, loan syndication international finance in Nigeria’s Agricultural: issues and experience.

AEC  514 RESOURCE ECONOMICS      (2 CREDITS): A general review of the relative importance of the factors of production in relation to the small holder farmers. The concept of economic resource and its relationship to Economic Development. The field of land economic – definition of concepts in land economics, special characteristics of land. The supply of land for economic use.  Locational factors affecting supply and use patterns for land Population Pressure and the Demand for Land.  The structure of land tenure system in Nigeria

Land tenure systems of other countries, Egypt, Ethiopia, Ghana (as examples).  Specific land tenure problems.  Tenancy problems.  Pledging of growing crops and credit needs of small holder farmers. Acquisition of land and payment of compensation.  Problems of resettlement of displaced farmers.  Inheritance problems – fragment of holding, problems of strangers and movement of farmers and farm.  Formulation and implementation of land policies including the implications of the Land Use Decree, Farm settlement Schemes in Nigeria.  National Land Development Authority.

Labour defined – Skilled, semi-skilled, unskilled labour.  Measuring labour resource

Characteristics of labour.  Theory of labour supply

CPP 521  FARMING SYSTEM (2 CREDITS)

Concept of a farming system: factors determining farming systems; physical, biological and socio-economic characteristics  of tropical small-scale farming systems; nomadic shifting  cultivation, fallow rotation, permanent cultivation, etc. Cropping system scale: inter sequential, relay etc. mixed farming, crops and livestock, the different systems aim at crop productivity, soil productivity and labour productivity; application of new technologies to different farming systems; important crops based on Nigerian farming systems.

Rural Sociology and Extension Option

AEX 500                 PROJECT (4 Credits)

AEX 501                 SEMINAR RURAL SOCIOLOGY AND EXTENSION            (1 Credit)

AEX 511 DIFFUSION OF INNOVATIONS (2 CREDITS)

Definition and elements of diffusion; Processes of adoption of innovations. The innovation decision process. Characteristics of innovation. Adoption rates and adopter categories. Factors responsible for the differential adoption of agricultural innovations. Implications of these factors and process of effective agricultural extension work in rural areas. Relation between extension teaching methods and adoption categories. Opinion leadership. Theoretical formulation on the diffusion of innovations.

AEX 512 EXTENSION ORGANIZATION MANAGEMENT AND SUPERVISION  (2 CREDITS)

Concepts, theories, guidelines and principles of extension organization, management and supervision. Extension organization in Nigeria. Roles and responsibilities of various levels of extension and other relevant staff. Staff recruitment, selection, placement and supervision. Principles of morale and material implications for extension staff development and promotion. Creating conducive working environment. Discipline of staff, Improving Nigerian Extension services.

AEX 513 EXTENSION ADMINISTRATION, PROGRAMME PLANNING AND EVALUATION                       (2 CREDITS)

Concepts, theories; principles and guidelines of administration, and programme, planning in extension, Administrative function and responsibility in agricultural extension. Budget development and fiscal control. Importance of programme planning in agricultural extension. Principles of planning. Programme planning process. Implementation of extension programs. Social Action Process. Scope of programme planning and implementation. Public relations role of extension agents.

AEX 514                 RURAL SOCIOLOGY (2 CREDITS)

General sociology theory. Analysis of social structure, rural agrarian and societies. Selected theories of social change and their potentials for modernization of rural societies. Social change and attitude change. Measurement of changes in rural societies. Economic aspects of social-change, Group dynamics, Traditional institutions and their transformation. Leadership patterns, Involvement of local people in directed change. Problems of rural societies, their causes and solutions. Special topics in rural sociology. Selected case studies.

AEX 515 EXTENSION COMMUNICATION AND AUDIO-VISUALS (2 CREDITS)

Concept of communication. Effective communication. Purposes of communication. The communication process. Theories and principles of communication. Key elements in communication. Role of feedback in communication. Importance  of Audio-Visual aids in communication. Types of Audio-Visual aids and accessories. Care and use of Audio-Visual aids.

AEX 523 RURAL COMMUNITY DEVELOPMENT (2 CREDITS) 

Sociological, economic and related policy perspectives as they relate to rural development. The theories of community. Community as a unit of social change. The micro approaches to community development. Community development and other development approaches. Model of rural/Agricultural development and their relevance to Nigerian situation. Problems of communities and infrastructural development. Case studies on community development in Nigeria and other developing countries. The future of communities in Nigeria.

AEX 525 TECHNOLOGICAL AND SOCIAL CHANGE IN AGRICULTURE (2 CREDITS)

Understanding technological change. Basic sociological concepts, Technological change and societies; general principles in introducing technological change. Technological change in Nigerian agricultural development and extension. Ethical considerations in introducing technological change. Agricultural engineers and public extension system.

AEX 526 RURAL DEVELOPMENT AND YOUTH PROGRAMMES (2 CREDITS)

Dynamics of rural development, Rural development principles and processes; Rural-urban population in Nigeria. The role of rural youths in economic development. Philosophy and objectives of youth extension programmes. The Young Farmers Club – its historical background, programmes and organization, Junior and adult local leaders and their roles club work. Other youth club activities. Problems of youth work.

AEX 527 INTRODUCTION TO AGRICULTURAL JOURNALISM  (2 UNITS)

Definition of Journalism. Mass media and characteristic functions of mass media in agriculture. Mass media and diffusion process. Nature and characteristics of news. News gathering and interviews. Speech reporting. Writing mechanics, news editing and editorials. Headline writing and story presentation. The print media, types, functions and advantages. Basic processes of writing, editing and production of extension information materials for the print and electronic media. Advertising. Photo journalism.

AEX 528 GROUP DYNAMICS IN AGRIC EXTENSION AND RURAL SOCIOLOGY (2 UNITS)

An overview of the concept of group and group dynamics. Types of Social Groups e.g. Primary and Secondary groups. Group processes of interaction; cooperation, conflict, competition, accommodation, assimilation, etc. The Role of Leadership in Groups; definition of leadership, theoretical approach, Leadership roles, qualities of leadership, leadership styles, leadership behavior, etc. Group Decision-making; Consensus and Consultative decision making processes. Group Participation. Case studies of some Rural Social Groups (Community-Based Organizations) e.g. Local Farm Groups, Age Groups, Women Association, Town Unions, Secret Societies.

AEX 529 WRITING AND PRODUCTION OF EXTENSION TEACHING MATERIALS (2 UNITS)

Overview of production and writing of Extension Teaching Materials. Concept of Communication: Production of cost-effective teaching aids e.g. Posters and Flip Charts. Word Choice. Script writing and production technique (editing) for print media, radio and television. Caption writing: Factors to consider before selection and production of teaching aids for rural farmers. Importance of the course to the learner and the teacher.

CPP 521  FARMING SYSTEM (2 CREDITS)

Concept of a farming system: factors determining farming systems; physical, biological and socio-economic characteristics  of tropical small-scale farming systems; nomadic shifting  cultivation, fallow rotation, permanent cultivation, etc. Cropping system scale: inter sequential, relay etc. mixed farming, crops and livestock, the different systems aim at crop productivity, soil productivity and labour productivity; application of new technologies to different farming systems; important crops based on Nigerian farming systems.

Agricultural Economics Department