Agricultural Economics - definition and scope - Farm Management - definition-scope- Classification of farms - Basic concepts in farm management Relationship between farm management and other basic sciences Farm layout Farm records and accounts Farm appraisal techniques Farm Inventory -Valuation

Basic laws of economics demand and supply concepts law of increasing, diminishing and constant returns Equi-marginal returns Product relationship Production function definition and types - Production function curves Optimum level of input use Economies of scale external and internal economies and diseconomies Cost concepts types Opportunity cost comparison of costs Factor relationship-concepts

Principle of substitution isoquant, isocline, expansion path, ridge line and least cost combination of inputs-Product-product relationship Production possibility curve, iso revenue line and optimum combination of outputs Cost curves-Optimum input and output levels Factor-factor relationship - Least cost combination of inputs Estimation of cost of cultivation and cost of production of crops - annual and perennial crops - Preparation of interview schedule and farm visit for data collection

Concept of risk and uncertainty causes for uncertainty Managerial decisions to reduce risks in production process Management of resources types of resources land, labour, capital and measurement of their efficiencies - Mobilization of farm resources- Cost of machinery and maintenance - Break even analysis-Investment analysis-Discounting techniques, GDP in Agricultural Sector

Farm management- need and analysis Farm financial analysis Balance sheet Income statement Cash flow analysis - Farm investment analysis - Time comparison principles - Farm planning Elements. of farm planning Whole farm planning and partial planning Farm level management system Farm budgeting whole farm budgeting and partial budgeting Estimation of credit examples of farm planning and budgeting