This guide will help you to know the reason why you have to study Agricultural economics either in school or at a workplace
If you were to say that “agricultural economics is the application of economic principles to agriculture” you might be technically correct – but in a narrower context.
This definition does not recognize the economic, social and environmental problems identified by the agricultural economics profession.
It would be a mistake to think of the agrarian economy as limited to agriculture and animal husbandry. These operations represent only 2 to 4% of the national product.
Indeed, the field of agricultural economy extends far beyond the farm to expand the wide range of activities of food and fibre.
As can be seen from this broad view, agriculture represents about 12 to 15% of the national product.
Agricultural economics is an applied social science that deals with the use of scarce and natural resources in the production, processing, marketing and use of food and fiber products by producers, consumers and societies.
Macroeconomics versus Macroeconomics Economics
Like the most discipline, the field of economics can be divided into several branches.
Microfinance and macroeconomics are the two main branches of economics. Microeconomics focuses on the economic activities of individuals or specific groups of individuals. For example, macroeconomists are interested in goods and services claimants and manufacturers of goods and services and in economic behaviour in pricing these products and services.
Macroeconomics focuses on broad aggregates such as the growth of the country’s gross domestic product (GDP), the gap between the potential GDP of the economy and its current GDP, and closing trade between unemployment and inflation. For example, macroeconomics seeks to identify fiscal and monetary policies that can reduce inflation, boost the national economy, improve the country’s trade balance (improved minus imports), and reduce national depreciation.
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Macroeconomics is clearly responsible for the interrelationships between the nation’s labour, commodity and money markets and for the economic decisions of governments and foreigners. Despite the differences between microeconomics and macroeconomics, there is no conflict between these two branches.
After all, the overall economy is certainly affected by events arising in individual markets. A caution: caution must be exercised when generalizing the overall or macroeconomic consequences of an individual or a small eccentric event.
Otherwise, we run the risk of making a structural error, which means that what is needed in an individual situation is not entirely true. For example, suppose the Walt wheat man adopts a new technology that doubles his wheat production. If the United States and thousands of other wheat growers
Why Do We Study Agricultural Economics?
This is a good question. We are at a time when people do not know about agriculture and rarely ask questions. I am an agricultural economist and had difficulty identify the reasons for studying the course in the third year at the university. How I wish I known the reasoning for studding agricultural economics before attending university. But I thank God that something like asquestions.com is there to help me with the answers to my question
There is this unique difference between purely academic reasons and goal-oriented reasons. My guess is you want goal-oriented factors. For example, why is an agricultural economist important?
To answer this important question above below to find out the reason for studying agricultural economics studies the link between agriculture and economics. Agriculture cannot be excluded in any economy (whether at the input, farm or processing level). In developing countries, the lion’s share of the population is engaged in subsistence agriculture for their livelihood. In order to help this large number of farmers achieve their main economic goals, the agrarian economy interferes with agricultural policy, farm management, agrarian dependence, cooperatives … In other cases, many countries export and import agricultural products to maximize their profits; Here, the agricultural economy comes into play with a profit-cost analysis.
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Agricultural Economics helps in Prices of agricultural products; Pricing for agricultural products is extremely complex due to incrementality, size, storage, processing, originality (GMO or not), variety, quality, size, etc. Huggling and bargaining (and therefore inequality) to stabilize agricultural product prices and avoid crowded markets, agriculture Economics analyzes the current situation and forecasts
Agricultural economics help in forecasting; Forecasts and forecasts based on the essence of what agronomists do. However, we are at a time when it is very difficult to predict tomorrow; Technology is going to get better. Mr X may ask you to prepare a feasibility report on popcorn production at City X. As an economist, you use a number of economic and accounting tools to draw conclusions (possible or not). But as I said, the forecast has gone beyond calculating a payback period and making the wrong decision, now we have higher-end tools that can adjust and manage big data for better results.
The agricultural economy is not only about agribusiness; Over time people often think that identifying a business opportunity in agriculture and maximizing its potential is the whole concept of the agro mix. Nor is its agriculture. Agricultural dependence is a subset of the agricultural economy. Agricultural economics deals more with the economics of events related to agriculture. For example, the economics of bire fertilization (improving crop nutrition through better agricultural practices) that are more consumer-centric.
It is for people who are interested and ready to work; If you are the type who hates thinking about different regions and different regions, you cannot be a real agricultural economist. Agromixics is an applied science that requires the use of theory in economics, mathematics, statistics, history, accounting, and management – not even agriculture now. Agriculture is very extensive, grain conservation, agricultural science, zoology 6. You must know the basics of these fields otherwise you have made big mistakes in the analyzes.
Agricultural Economic Create Employment; Agronomists operate at all levels of agronomists. There are industries including the financial sector, agricultural demand, industrial organizations, cooperatives, international organizations, government departments
Fight for space; Our biggest challenge.
We travel to other regions to perform our tasks as well as a move to them. For this reason, it is very difficult to distinguish between the works of an agricultural economist … So, as an economist, you have to take the trouble to understand what you are doing over and over again.