Course Content
Farm management in relation to other science, farm management and farming systems
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Farm records, accounts, and their types
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Factors affecting farm cost and incomes
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Introduction to linear programming
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Learn Farm Management, Production economics and Planning with Rahul
About Lesson

Economic Theory:

  • The tools and techniques for farm management are supplied by the general economic theory such as the law of variable proportions, the principle of substitution and marginal analysis.
  • Whereas the agricultural production economics is the general economics which deals with the efficiency of resource allocation in production economics.
  • So, farm management is intra-farm science and agricultural production economics is inter farm or inter- region science.

 

Physical and Biological Sciences:

  • Farm management has to heavily depend on other physical and biological sciences for its source materials.
  • It relies closely on other branches of agricultural science such as soil science, agronomy, animal husbandry, agricultural engineering, forestry etc.
  • They provide input output relationships in their respective areas in physical terms.

 

Political Science:

  • Various pieces of legislation, policy, plan and political actions of the government affect the production decision of the farmer such as scale of production, restrictions or encouragement on growing of certain crops such as poppy, tobacco, ceiling on land, minimum and maximum prices.

 

Support Sciences:

  • Statistics is another science that has been used effectively and extensively by the agricultural economists and farm management specialists.
  • This science is helpful in providing methods and procedures by which data regarding specific farm problems can be collected, analyzed and evaluated.

 

Other social sciences:

  • In decision making, many psychological aspects and mental reservations of decision maker come in, such as attitude towards taking risk and work under conditions of uncertainty.
  • The farmer lives and works in a society. His decisions are influenced by the customs, habits and cultural values by the family jointly.
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