DEPARTMENT OF AGRICULTURAL ECONOMICS AND FARM MANAGEMENT

                Background Information

The Federal University of Agriculture, Abeokuta (FUNAAB), was established in 1988 to support, through a tripodad mandate of teaching, research and extension services, the national strategic goals of promoting sustainable agricultural development and attainment of self-sufficiency in food and fibre production in Nigeria. In this pursuit, the College of Agricultural Management and Rural Development (COLAMRUD) was established with the guiding philosophy of producing skilled manpower that is adequately furnished with comprehensive information required for engaging in economic agricultural production and value addition in an environment characterized by rural setting and adequate land endowment. The Department of Agricultural Economics and Farm Management (AEFM) was established to support this cause. It contributes economic and farm management inputs into the Bachelor of Agriculture (B.Agric) Degree programme of the University. It also offers Master of Agriculture (M.Agric) and Doctor of Philosophy (PhD) Degree programmes in Agricultural Economics & Farm Management as well as a Professional Master of Business Administration (MBA) in Agribusiness. These have been among the most patronised programmes in the University. 

In a comprehensive review and impacts assessment of its programmes in 2010/2011, the need to deepen the economic content and broaden the scope of agricultural economics training available in the University beyond the present concentration on Production Economics and Farm Management was identified. The Department noted the rising needs and world-wide demand for agricultural economists with competence in environmental and natural resource economics, agribusiness management and finance, cooperatives and rural economics, international agriculture and trade as well as in development economics and policy analysis, among others. These skills are critical to enhance sustainability of agricultural production and natural resource exploitation, enhance agricultural value addition and income through value-chain development and international trade, support development efforts geared at reducing poverty and enhancing food security as well as the attainment of the Millennium Development Goals (MDGs). as well as for promoting overall development of the Food and Farm sector in Nigeria.

This curriculum is therefore, a bold step towards enhancement of postgraduate training programmes available at FUNAAB for local and international relevance and impacts. In this pursuit, the Department shall,  with effects from 2014/2015 Academic Session, offer a broad base postgraduate training in agricultural, resource and food economics leading to the award of Postgraduate Diploma (PGD), Professional Masters (M.Sc. without thesis), Master of Agriculture (M.Agric) and Doctor of Philosophy (PhD) Degree in various specialty areas. 

 

                Postgraduate Faculty Members by Units

Name	Designation	Qualification		Specialization
I.A. Ayinde	Reader & Ag. Head	B.Agric, M.Agric, Ph.D  (Abeokuta)		Production Economics, Farm Management
Agricultural Economics & Farm Management (AEFM) Unit
Caroline  A. Afolami	Professor		B.Sc(Ibadan),M.Sc, (Cornell). Ph.D (Ibadan)	Production Economics, Econometrics
A.M. Shittu	Reader		B.Agric (Ogun), M.Sc (Ibadan), Ph.D (Abeokuta)	Agricultural Resource & Development Economics
S.A. Adewuyi	Senior Lecturer		B.Sc, M.Sc, Ph.D (Ibadan)	Production Economics
Agribusiness & Food Economics (AFEC) Unit
A.O. Dipeolu	Professor	B.Sc. ( Ife), M.Sc, Ph.D (Ibadan)		Production Economics, Marketing & Consumer Economics, Entrepreneurship
S. Momoh	Professor	M.Sc, Chartered Accountant Certificate, Ph.D (Godollo)		Farm Management, Agricultural Finance
M.U. Aghonlahor	Senior Lecturer	B.Agric. (Nsukka), M.Agric. (Abeokuta) M.Sc, GIS (Ibadan)		Production Economics, Development Economics
R.A. Sanusi	Senior Lecturer	B.Agric (OAU), M.Sc, Ph.D (Ibadan)		Applied Welfare & Consumer Economics
A.E. Obayelu	Lecturer I	B.Agric, MBA (Unilorin), M.Sc., Ph.D (Ibadan)		Consumer Economics and Food Policy
D.  Akerele	Lecturer II	B.Agric, M.Agric (Abeokuta), PhD (Reading)		Food & Consumer Economics
Environmental and Resource Economics (EREC) Unit
P. A. Okuneye	Professor		B.Sc., M.Phil (Ibadan). Ph.D (Leeds)		Farm Management and Accounting, Environmental Economics
L.O. Okojie	Reader		B.Sc(Ibadan), M.Sc(Jos), Ph.D (Netherlands)		Development Economics, Environmental Economics
O.F. Ashaolu	Senior Lecturer		B.Agric, MS.c, Ph.D (Ife)		Resource Economics, Development and Policy

 

Technical Staff

S/No	Name	Designation	Qualification
1	J. H. Onimisi	Higher Science Laboratory Technologist	PGD  (Computer Science), HND (Computer Technology)

 

Administrative Staff

S/No	Name	Designation	Qualification
1	Florence N. Alabi	Chief Sec. Assistant	HND (Office Tech. & Mgt)(Poly-Ibadan)
2	U.H. Akpan	Mail Assistant II	WASC

 

 

                Postgraduate Diploma in Agricultural Economics

Philosophy

The philosophy of postgraduate diploma programme in Agricultural Economics is to provide postgraduate training in Agricultural Economics for Higher National Diploma graduates of Agricultural Economics. It also provides other Bachelor Degree holders, who otherwise would not qualify for admission into Masters Degree Programmes in Agricultural Economics, an opportunity to pursue a postgraduate programme in Agricultural Economics.

 

Admission Requirements

In addition to having at least five O’ level credits including English Language, Mathematics, Biology or Agricultural Sciences and any two (2) science or social science subjects), candidates seeking admission for Postgraduate Diploma in Agricultural Economics must have at least one of the following qualifications from recognized institutions:

Higher National Diploma in Agricultural Economics and/or Farm Management with a minimum of Upper Credit;

Bachelor Degree in Agriculture or Allied Sciences or any of the Social/Management Sciences programmes with a minimum of Third Class;

For the avoidance of doubt, Credit Passes in Chemistry and Physics are not compulsory for a Post-graduate Study in Agricultural Economics, although these are required for admission into the general B.Agric programme, in which Agricultural Economics is an option.

 

Duration of Postgraduate Diploma

The Full-time Postgraduate Diploma Programme shall run for a minimum duration of two (2) semesters and maximum of four (4) semesters

The Part-time Postgraduate Diploma Programme shall run for a minimum duration of four (4) semesters and maximum of six (6) semesters.

 

Requirements for Graduation

The Programme consists of course work, project work and seminars. To be awarded the Postgraduate Diploma in Agricultural Economics, a candidate must have taken and passed at a minimum of 50% or higher grade the following:

 

Course                                  Units

Core Courses                     22

Elective Course                 8

Seminar                               2

Project                                 4

Total                                      36

 

Postgraduate Diploma Courses in Agricultural Economics

First Semester

Course Code	Course Title	Abbreviation	Unit
AEM 701	Principles of Microeconomics	PRINMICR	3
AEM 703	Statistics and Research Methods	STATREMD	3
AEM 705	Principles of Agricultural Production Economics	PRAGPROE	3
AEM 707	Technology Transfer in Agriculture	TETAGRIC	2

 

Second Semester

Course Code	Course Title	Abbreviation	Unit
AEM 702	Principles of Macroeconomics	PRINMACR	3
AEM 704	Principles of Econometrics	PRECMETR	3
AEM 706	Principles of Farm Management	PFARMNGT	3
AEM 708	Computer Applications in Agriculture	CAPAGRIC	2

 

Elective courses (Select any 4)

Course Code	Course Title	Abbreviation	Unit
AEM 709	Agricultural Price Analysis	AGRPRANA	2
AEM 710	Environmental Economics	ENVIRECO	2
AEM 711	Agricultural Marketing Analysis	PRAGRMKT	2
AEM 712	Agricultural Finance	PRAGRFIN	2
AEM 713	Rural Development, Theory and Practice	RURDEVTP	2
AEM 714	Agribusiness Management	AGRBMNGT	2
AEM 715	Farm Accounting	PRFAMACC	2

 

Background Courses (for Non-Agric Graduates Only)*

Course Code	Course Title	Abbreviation	Unit
AGR 701	General Agriculture I		3
AGR 702	General Agriculture II		3

* These background courses are required to be taken by students that did not have Agric background.

Seminar and Project

Course Code	Course Title	Units	Abbreviation
AEM 798	Seminar in Agricultural Economics	2	SEMINAR
AEM 799	Project	4	PROJECT

 

                M.Sc. Agricultural Economics (Professional)

Philosophy

The philosophy of Professional Masters in Agricultural Economics is to train competent Agricultural Economists that can provide leadership in the Professional practice of Agricultural Economics in the Public and Private Sector. The programme is designed for Bachelor of Agriculture and Allied Sciences Degree holders who wanted knowledge of Agricultural Economics to boost their competencies in the performance of their duties as Professionals within the Agriculture and Allied Sector, and are not necessarily interested in a career in Academics as to warrant the pursuit of the two-years M.Agric Degree.

Admission Requirements

In addition to having at least five O’level credits including English Language, Mathematics, Biology or Agricultural Sciences and any two (2) science or social science subjects), candidates seeking admission for Professional Masters in Agricultural Economics must have at least one of the following qualifications from recognized institutions:

Bachelor Degree in Agriculture or Allied Sciences or any of the Social/Management Sciences programmes with a minimum of Second Class Lower;

Postgraduate Diploma in Agricultural Economics with a minimum weighted average score of 55%. 

For the avoidance of doubt, Credit Passes in Chemistry and Physics are not compulsory for a Post-graduate Study in Agricultural Economics, although these are required for admission into the general B.Agric programme in which Agricultural Economics is an option.

 

Duration of Professional Masters

The Full-time Professional Masters Programme in Agricultural Economics shall run for a minimum duration of two (2) semesters and maximum of four (4) semesters

The Part-time Professional Masters Programme in Agricultural Economics shall run for a minimum duration of four (4) semesters and maximum of six (6) semesters.

Requirements for Graduation

The Programme consists of course work, project work and seminars. To be awarded a Professional Masters in Agricultural Economics, a candidate must have taken and passed at a minimum of 50% or higher grade the following:

Course                                  Units

Core Courses                     20

Elective Courses               12

Seminar                                 2

Project                                   6

Total                                      40

 

Courses for Professional Masters in Agricultural Economics

First Semester

Course Code	Course Title	Abbreviation	Units
AEM 801	Microeconomic Theory	MICRECON	3
AEM 803	Research Methodology	RESMETHD	3
AEM 809	Statistical Theory and Analysis	STATHANA	3
AEM 813	Operation Research	OPERESCH	3

 

Second Semester

Course Code	Course Title	Abbreviation	Units
AEM 802	Macroeconomic  Theory	MACRECON	3
AEM 804	Econometrics	ECONMETC	3
AEM 832	Computer Applications in Agricultural Economics	CAPAGRIC	2

 

Elective courses (select at least 4 related courses)

Course Code	Course Title	Abbreviation	Units
AEM 805	Production Economics	AGPECONS	3
AEM 806	Farm Management and Finance	FARMGFIN	3
AEM 807	Agricultural Marketing and Price Analysis	AGRIMAPA	3
AEM 808	Development Economics	DEVECONS	3
AEM 810	Project Appraisal and Planning	PRAPPLAN	3
AEM 811	Mathematical Economics	MATHECON	2
AEM 812	Agribusiness Management	AGRIBMGT	3
AEM 814	Agricultural Policy Analysis	AGRICPOA	3
AEM 817	Fundamentals of Economic Welfare Analysis	FUNDECWA	3
AEM 818	Applied Welfare Economics and Public Policy	AWECONPP	3
AEM 822	Agro-industrial Supply Chain Management	AGSCMANG	3
AEM 824	Food, Nutrition and Health Economics	FNHECONS	3
AEM 828	Financial Management and Accounting	FINMACCT	3
AEM 830	Organisation and Management of Cooperatives	ORMACOOP	3
AEM 831	International Trade Theory and Commercial Policy	INTRTTCP	3

 

Seminar and Project

Course Code	Course Title	Units	Abbreviation
AEM 800	Seminar in Agricultural Economics	2	SEMINAR
AEM 890	Project	6	PROJECT

 

 

 

                Master of Business Administration (AgriBusiness)

Philosophy

The philosophy of the MBA Agribusiness programme is to develop highly skilled professional managers for the public, private and international agro-allied organizations.

Aims and Objectives

The MBA Agribusiness is aimed at:

Producing a core of professionally competent and specialized managers who would effectively and efficiently manage or assist the management of Agro-Allied public and private organizations in Nigeria and abroad.

Providing students with knowledge and skills to enhance their performance and to enable them to assume broader responsibility in the rapidly changing environment faced by private and public agro-allied sectors.

The provision of knowledge required for understanding and practical analysis of problems related to management and administration of public, private and international agro-allied organizations

Producing managers who are capable of applying appropriate management principles and techniques of decision making and problem solving in the Nigerian environment and the world at large.

Producing socially responsible managers who are mindful of accepted norms and ethics.

Producing managers who are equipped with relevant ICT knowledge and skills.

Producing managers with leadership qualities and entrepreneurial skills.

Admission Requirements

The criteria for admission into the MBA Agribusiness programme is as follows:

All candidates must have five credit passes including English and Mathematics at the “O” Level as basic requirements

Candidates with a Bachelors degree from an approved university must obtain a minimum of  second class lower division.

All candidates must have a minimum of one year managerial / administrative experience.

Candidates with Post Graduate Diploma from a recognized university and who have passed with a minimum of Upper Credit may be considered for admission.

Candidates with good quantitative background and some basic knowledge of economics will have an added advantage.

Holders of HND and / or professional qualifications in administration disciplines are eligible for admission but must go through a mandatory nine months postgraduate diploma in a University.

Candidates without an agricultural background at the University level are required to take agricultural courses as may be prescribed.

Duration of the Programme

The MBA Agribusiness programme runs for a minimum of four semesters.

Requirements for Graduation

A candidate must have fulfilled the following conditions to be awarded the MBA Agribusiness degree.

Pass a minimum of 61 credit units, for Agricultural background students including all the compulsory courses. For the Non Agricultural Background students, a minimum of 67 credit units.  The requirement is broken down as follows:

Pass in 37 units of core courses for Agricultural background students and 43 units for Non Agricultural Background students.

Pass in minimum of 18 units of elective courses

Pass in six (6) credit units for MBA project

Minimum of pass in MBA 801 (3 units) and MBA 803 (3 units) for Non Agricultural Background students plus at least two (2) elective background course (2 units)

Any student who has satisfied the minimum requirements in (ii) above but failed other elective course(s) is allowed to graduate.

Carry out a research relevant to the area of specialization and submit an acceptable project research.

MBA Agribusiness Course Structure

First Year MBA

First Semester

Course Code	Course Title	Abbreviation	Unit
MBA 801	Principles and Practices of Crop Production	PPCROPRO	3
MBA 803	Principles and Practices of Animal Production	PPANIPRO	3
MBA 805	Fisheries Management	FISHMGNT	3
MBA 807	Quantitative Techniques for Management	QUANTECH	3
MBA 809	Research Methods and Statistical Analysis	RESMTDSA	3
MBA 819	Agricultural Marketing System and Policy	AGMASPOL	3
MBA 825	MBA Language Programme		2

Second Semester

Course Code	Course Title	Abbreviation	Unit
MBA 802	Commercial Production of Feed Stuffs and Quality	CPEEDQUL	3
MBA 804	Food Processing Technologies: Principles and Practices	FOPROTEC	3
MBA 806	Forestry and Wildlife Investment Analysis	FOWILIAN	3
MBA 808	Marketing Management and Strategy	MRKTMGNT	3
MBA 812	Economics for Agribusiness Managers	ECOAGRBM	3
MBA 814	Corporate Finance	CORPOFIN	3
MBA 830	Corporate Strategy		3

 

Second year MBA

First Semester

Course Code	Course Title	Abbreviation	Unit
MBA 811	Food Industry and Agribusiness System	FIGRIBUS	3
MBA 813	Strategic Management	STRATMGT	3
MBA 815	Cost and Management Accounting	COSTMGTA	3
MBA 817	Agricultural Production Economics	AGPRODEC	3
MBA 821	Environmental Resource Management and Economics	ENVREMEC	3
MBA 823	Management of Large Scale Agro-based Enterprises	MGLASCAE	3
MBA 827	Operations Management		3
MBA 829	Entrepreneurship		3

 

Second Semester

Course Code	Course Title	Abbreviation	Unit
MBA 810	ICT Management		3
MBA 816	Business Policy and Contracts	BIZPOCON	3
MBA 818	Human Resource Management		3
MBA 820	Financial Accounting	FINACCTG	3
MBA 822	Company Taxation	COMPTAXN	3
MBA 824	Project Appraisal and Evaluation	PROJAPEV	3
MBA 826	Organizational Behaviour		3

 

Seminar and Project

Course Code	Course Title	Units	Abbreviation
MBA 828	Seminar	3	SEMINAR
MBA 899	Research Project	6	PROJECT

                M. Agric. Programme

With effect from 2014/2015 academic session, the AEFM Department at FUNAAB shall offer a broad based training in Agricultural, Resource and Food Economics leading to the award of M. Agric. Degree in the following specialty areas:

Agribusiness Management and Finance

Agricultural Development and Policy Analysis

Agricultural Production Economics and Farm Management

Food Marketing & International Trade

Consumer Welfare and Food Economics

Cooperative Development, and

Environment and Resource Economics

Philosophy and Objectives

The M.Agric programmes in the various specialty areas are designed to train students to conduct economic research in the field of agricultural, resource and food economics. The ultimate goal is to prepare students for a PhD as to enable them pursue a career in academics, research and consulting services. The programmes shall provide rigorous training in economic theory, econometrics, research methods and quantitative techniques, and their applications in decision making and policy analysis as they affect the farm and food sector, the environment, and the economy as a whole. Thus, holders of M.Agric Degree in any of the specialty areas would be able to provide leadership, and hence shall find employment, in the farm and food sector, financial institutions, consulting firms, international organizations, and government agencies.

Admission Requirements

In addition to having satisfied the minimum admission requirement for the B.Agric (Agricultural Economics & Farm Management) Degree programme in FUNAAB, candidates seeking admission for M.Agric. Degree in any of the specialty areas of agricultural, resource and food economics must have at least one of the following qualifications from recognized institutions:

Bachelor Degree in Agricultural Economics and/or Farm Management with a minimum of Second Class Lower and a cumulative Grade Point Average of at least 3.0;

Postgraduate Diploma in Agricultural Economics with a minimum weighted average score of 60%. 

Candidates that have successfully completed a Professional Masters in Agricultural Economics, and achieved a weighted average score of 60% in the course work, would be eligible to apply for a conversion to an M.Agric Degree programme in any of the specialty areas of agricultural, resource and food economics. Such candidates would be credited with their scores in the Masters level courses they had passed at 50% or higher grades, and would only be required to take/retake courses, seminars and dissertation research needed to fulfil M.Agric Degree requirements. 

For candidates seeking admission into M.Agric programme through PGD or Professional Masters, the O’level requirement of Credit Pass in Chemistry and a pass in Physics may be waived, provided such candidate achieved a minimum weighted average score of 60% in the PGD/M.Sc. course work. 

Duration of M.Agric programme

The Full-time M.Agric Programme in Agricultural Economics shall run for a minimum duration of four (4) semesters and maximum of six (6) semesters

The Part-time M.Agric Programme in Agricultural Economics shall run for a minimum duration of six (6) semesters and maximum of eight (8) semesters.

Programme Structure

The M.Agric programme in each of the specialty areas is structured to have series of core courses (24 units), specialty area electives (minimum of 12 units), and dissertation & seminars (10 units). Students may also take up to five units of free electives from other departments in the University in courses related to their thesis

Core Courses

Core courses are designed to provide postgraduate students with analytical tools in economic theory, quantitative techniques and research methodology. Students enrolled into any of the M.Agric specialty areas must take, and pass at 50% or higher grade, each of the following core courses before graduation:-

First Semester

Course Code	Course Title	Abbreviation	Units
AEM 801	Microeconomic Theory	MICRECON	3
AEM 803	Research Methodology	RESMETHD	3
AEM 809	Statistical Theory and Analysis	STATHANA	3
AEM 811	Mathematical Economics	MATHECON	2
AEM 813	Operation Research	OPERESCH	3
CSC 801	Use of Computers in Research	USEOCOMP	2

 

Second Semester

Course Code	Course Title	Abbreviation	Units
AEM 802	Macroeconomic  Theory	MACRECON	3
AEM 804	Econometrics	ECONMETC	3
AEM 832	Computing Packages for Economic Modelling		2

 

Specialty Area Courses

In addition to the core courses, students pursuing M.Agric in each of the specialty areas of agricultural, resource and food economics are expected to take, and pass at 50% or higher grades, a minimum of 12 Units of elective courses among those specified for their specialty area. These include:

 

(a) Agribusiness Management and Finance

Course Code	Course Title	Abbreviation	Units
AEM 812	Agribusiness Management	AGRIBMGT	3
AEM 828	Financial Management and Accounting	FINMACCT	3
and at least two (2) of the following:
AEM 807	Agricultural Marketing and Price Analysis	AGRIMAPA	3
AEM 810	Project Appraisal and Planning	PRAPPLAN	3
AEM 822	Agro-industrial Supply Chain Management	AGSCMANG	3

 

(b) Agricultural Development and Policy Analysis

Course Code	Course Title	Abbreviation	Units
AEM 808	Development Economics	DEVECONS	3
AEM 814	Agricultural Policy Analysis	AGRICPOA	3
and at least two (2) of the following:
AEM 805	Agricultural Production Economics	AGPECONS	3
AEM 816	Environment and Resource Economics	ENVRECON	3
AEM 818	Applied Welfare Economics and Public Policy	AWECONPP	3

 

(c) Food Marketing and International Trade

Course Code	Course Title	Abbreviation	Units
AEM 807	Agricultural Marketing and Price Analysis	AGRIMAPA	3
AEM 831	International Trade Theory and Commercial Policy	INTRTTCP	3
and at least two (2) of the following:
AEM 814	Agricultural Policy Analysis	AGRICPOA	3
AEM 822	Agro-industrial Supply Chain Management	AGSCMANG	3
AEM 828	Financial Management and Accounting	FINMACCT	3

 

(d) Cooperative Development

Course Code	Course Title	Abbreviation	Units
AEM 807	Agricultural Marketing and Price Analysis	AGRIMAPA	3
AEM 830	Organisation and Management of Cooperatives	ORMACOOP	3
and at least two (2) of the following:
AEM 814	Agricultural Policy Analysis	AGRICPOA	3
AEM 822	Agro-industrial Supply Chain Management	AGSCMANG	3
AEM 828	Financial Management and Accounting	FINMACCT	3

 

(e) Consumer Welfare and Food Economics

Course Code	Course Title	Abbreviation	Units
AEM 817	Fundamentals of Economic Welfare Analysis	FUNDECWA	3
AEM 824	Food, Nutrition and Health Economics	FNHECONS	3
and at least two (2) of the following:
AEM 808	Development Economics	DEVECONS	3
AEM 818	Applied Welfare Economics and Public Policy	AWECONPP	3
AEM 820	Techniques in Environmental Impact Assessments	TENVRIAS	3

 

(f) Environmental and Resource Economics

Course Code	Course Title	Abbreviation	Units
AEM 815	Economics of Renewable Natural Resources	ECONSRNR	3
AEM 816	Environment and Resource Economics	ENVRECON	3
and at least two (2) of the following:
AEM 808	Development Economics	DEVECONS	3
AEM 818	Applied Welfare Economics and Public Policy	AWECONPP	3
AEM 820	Techniques in Environmental Impact Assessments	TENVRIAS	3

 

(g) Production Economics and Farm Management

Course Code	Course Title	Abbreviation	Units
AEM 805	Agricultural Production Economics	AGPECONS	3
AEM 806	Farm Management and Finance	FARMGFIN	3
and at least two (2) of the following:
AEM 808	Development Economics	DEVECONS	3
AEM 810	Project Appraisal and Planning	PRAPPLAN	3
AEM 814	Agricultural Policy Analysis	AGRICPOA	3

 

Free Elective Courses

M. Agric. students pursuing an option in any of the specialty areas of Agricultural and Resource Economics may, in consultation with their major supervisor, offer any other course within or outside the Department as a free elective to further broaden their knowledge and/or prepare themselves for their research. 

Seminar Courses and Dissertation

Every student pursuing an M.Agric in any of the specialty areas of Agricultural and Resource Economics must, as part of the requirement for the award of the Degree, develop and conduct a research to address some problems of major policy concern and/or of interests for the expansion of the frontier of knowledge in their chosen specialty area. In this pursuit, each M.Agric student is expected to achieve satisfactory performance (50% or higher), in each of the following sequence of dissertation related/supporting courses:

Course Code	Course Title	Units	Abbreviation
AEM 897	Pre-data Seminar	2	PREDATA
AEM 898	Post-data Seminar	2	POSTDATA
AEM 899	Dissertation	6	DISSERTN

 

AEM 897 and 898 shall be defended before the board of Postgraduate Faculties and Students in the Department, while the final dissertation (AEM 899) shall be defended before a Board of External and Internal Examiners appointed by the Postgraduate School.

Students must ensure that they follow the guideline provided by the Postgraduate School in preparation of their dissertations. In general, an M.Agric dissertation is expected to be of sufficient depth and quality as to enable the student develop at least two articles for publication in a scholarly journal of relevance to the student’s specialty area. The supervisory team may encourage a student to prepare and submit such article(s) to a journal while awaiting the final defence of the M.Agric Dissertation.

All M.Agric students are encouraged to follow the following schematic guide in the presentation of the various seminars and Dissertation defence. 

First Semester of Year 1: Submission of Research Concept Note. This should be done within 6weeks of resumption to enable the Department appoint appropriate supervisory committee for the student

Second Semester of Year 1: Presentation of Proposal Seminar. Thesis proposal should ideally be of no more than 30 pages, and should present Background Information, Problem Statements, Research Questions and/or Hypotheses, and Research Objectives in Chapter 1. A comprehensive Review of Literature should be in Chapter 2, while Chapter 3 should present the methodology. 

First Semester of Year 2: Presentation of the Post-data Seminar.

Second Semester of Year 2: Dissertation Defence

                Ph.D Programme

Objectives

The PhD programme in various specialty areas of agricultural, resource and food economics is designed to train students to design, perform, lead, and implement economic research in the specialty area. It exposes students to an in-depth knowledge and application of economic theory, econometrics, and quantitative techniques in decision making, policy analysis and expansion of the frontier of knowledge. It prepares students for a career in academics, research and consulting services.

Admission Requirements

Admission into a PhD programme in any of the specialty areas of Agricultural, Resource and Food Economics shall normally be after a successful completion of an M.Agric/M.Phil Degree in a corresponding specialty area, with an achievement of a weighted average score of 60% (or CGPA of 3.5 on 5point scale) or higher grade in the M.Agric/M.Phil level coursework.

For the avoidance of doubt, all holders of M.Sc. Degree of less than 2 years duration from other recognised Universities and/or holders M.Agric/M.Phil Degree that did not achieve the minimum weighted average score of 60% in M.Agric level course work can only be admitted into an M.Agric/PhD programme. Such candidates shall be required to take and pass examination (written and/oral) at 50% or higher grade in the following M.Agric/PhD courses.

M.Agric/PhD Courses

Course Code	Course Title	Abbreviation	Units
AEM 851	Applied Microeconomic Theory	APPMICRO	3
AEM 852	Applied Macroeconomic Theory	APPMACRO	3
AEM 854	Applied Econometrics	APPECONM	3
AEM 887	Applied Operations Research		3
AEM 853	Applied Statistics & Research Methods	APPSTATS	4
AEM 855	Seminars in Agricultural Economics	SEMAGECO	2
AEM 856	Specialty Area Electives (At least 2 courses)	SPEARSEM	6

A candidate must achieve an average of 60% in the courses to qualify for a conversion to a full PhD programme.

Structure of the PhD Programme

A PhD programme in any of the specialty areas of Agricultural and Resource Economics shall be by a combination of taught courses, seminar courses, supervised teaching and research.  Every PhD student is expected to take and obtain satisfactory performances in all  the following compulsory courses and at least one (1) elective course, each of which may be examined by written or oral examinations, assessment of a written scholarly article / term paper and/or a series of supervised practical and assignments undertaken by the student. 

PhD Courses

First Semester

Course Code	Course Title	Abbreviation	Units
AEM 901	Advanced Microeconomic Theory and Analysis	ADVMICTA	3
AEM 903	Advanced Macroeconomic Theory and Analysis	ADVMACTA	3
AEM 905	Advanced Econometrics	AECONMET	3
AEM 919*	Economic Theory Seminar (Micro or Macro)	ECOTHSEM	2

 

Second Semester

Course Code	Course Title	Abbreviation	Units
AEM 902	Time Series Analysis	TIMESERA	3
AEM 906	Panel Data Econometrics	PADATECO	3
AEM 908	Mathematical Programming	MATHPROG	3
AEM 920*	Field of Specialisation Seminar	FISPSEMN	2

 

Note:    * Candidates that passed through M.Agric/PhD programme and achieved a score of at least 60% in AEM 800 would only need to present one of these as a second non-thesis seminar.

PhD Thesis & Seminars

In addition to the above courses, each PhD candidate is expected to prepare and present applied and/or theoretical seminar papers. The details of the seminar papers are as follows:

Course Code	Course Title	Units	Abbreviation
AEM 997	Pre-data Seminar (Thesis)	3	PREDATA
AEM 998	Post-data Seminar	3	POSTDATA
AEM 999	Thesis	10	RETHESIS
		Total	16

 

Quality of PhD Thesis and Research

The PhD research and thesis to be prepared by a PhD candidate must be of sufficient depth and quality as to enable the student to develop at least three (3) articles for publication in reputable international journals in the chosen specialty area.  Thus, each PhD student would normally be encouraged by the supervisory team to prepare and submit such articles to a journal, while awaiting the final defence of the thesis.

To enable a PhD student to complete the programme within 2/3years of admission into PhD, it is advisable that they keep to following timeline in the presentation of the various seminars and thesis defence. 

Submission of Research Concept Note. This should be done within 6weeks of direct admission into PhD or within one semester of admission into M.Agric/PhD programme. 

Presentation of the First Non-thesis Seminar. This should be done within the first semester of admission into PhD candidacy.

Presentation of Research Proposal Seminar. This should be done within the Second semester of admission into PhD candidacy.

Presentation of the Second Non-thesis Seminar. This should be done within the third semester of admission into PhD.

Presentation of the Post-Data Seminar. This could be done towards the end of the third semester or during the fourth semester of admission into PhD candidacy. Note however, that a Post Data Seminar can only be presented after 6 months of presenting the Pre-Data Seminar.

Presentation of the Final Public Defence of thesis. PhD candidates should work towards presenting the Final Public Defence of the Thesis before the end of their fourth semester or during the fifth semester of admission into PhD candidacy.

                Postgraduate Course Synopsis

 

AEM 801              Microeconomic Theory

Micro statistics and Micro Economics theory, price and distribution theory, theory of production and theory of consumer behaviour, General equilibrium analysis, factor market equilibrium and the exchange economy, fundamentals of welfare economics.

AEM 802              Macroeconomic Theory

The mechanics of national income determination, consumption demand; demand for money, investment demand; classical price level determination; Keynesian employment: wage price dynamics: and growth theories.

AEM 803              Research Methodology

Discusses the research process and scientific method as applied in agricultural economics. Topics include problem identification, hypotheses, sources of data, sampling concepts and designs, methods of collecting data, questionnaire design and testing, field organization, and analysis of data. During the semester, each student develops a research proposal that may be associated with his or her thesis.

AEM 804:             Econometric Methods

Econometric Techniques; The Classical Least Square Regression Methods; Specification Tests, Structural Breaks & Dummy Variables; Violations of basic least square assumptions:  Consequences and remedies. Maximum Likelihood, Generalised Least Square and Instrumental Variable Methods; Limited Dependent Variable Models; Multiple Equation Models.

AEM 805              Production Economics  

Theories of production; agricultural production functions; resources returns in agriculture; agricultural cost and supply function; Optimization of production and farm planning under uncertainty; efficiency and innovation in agriculture. Fixed asset theory, dynamics and technical change.

AEM 806              Farm Management and Finance

Application of concepts and tools of farm business management in farm planning and farm management.  Business analysis and planning, interpretation and use of information for decision making in organizing and operating farm business to achieve goals; planning under risk and uncertainty, farm finance and appraisal, capital requirements in agriculture; principles of Finance Management, Cost – Benefit Analysis, Time value of money.

AEM 807              Agricultural Marketing and Price Analysis

Marketing techniques and industrial organization/competition for agricultural products in domestic markets and foreign trade. Current developments affecting market structure including effects of contractual arrangement, vertical integration, governmental policies and regulation. Theoretical foundations of individual consumer demand, commodity and factor markets and price determination. Empirical methods applied in analyzing demand, supply and prices, and the factors affecting them.

AEM 808              Development Economics

Neoclassical and endogenous growth models; international trade theory; the role of property right institutions and factor markets; Trade liberalization and the developing countries; Environmental effects of increasing international capital mobility; empirical studies relating the environment to growth and globalization; and policy analyses.

AEM 809              Statistical Theory and Analysis

Sets and Probability, random variable and probability distributions, special probability distributions, sampling theory and techniques, Markov’s chain process, estimation theory, Test of Hypothesis, Analysis of variance, simple regression and multiple regression. Use of Statistical Software in Data Analysis.

AEM 810              Project Appraisal and Planning

Meaning of projects appraisal, relationship between appraisal and planning; analysis; distinction between financial and economic appraisal; the tools of  projects analysis; Issue in appraisal of agricultural project, planning agricultural development; formulation of agricultural plan implementation.

AEM 811              Mathematical Economics

Functions of several variables, geometric interpretation, implicit functions, partial differential and total differentiation.  Maxima and Minima Langragian – multiplier, approximations – Taylor’s theorem integration – definite and indefinite integrals.  Differential and Difference Equations. Sequences and series, Linear dependence determinants, Inverse Matrix, Simultaneous Linear Equations – Crammar’s Rule, Set theory and Basic Logic, Calculus, Control Thoery, Static optimization theory: Theory of competitive markets, Existence and stability analysis, Optimal growth models. Application of the concepts in Economics will be emphasized.

AEM 812              Agribusiness Management

The application of economic theory and management principles to the agribusiness firm.  Topic to be covered included capital use and investment appraisal (private and public) financial management, business growth, farm planning techniques, and simulation in decision making.

AEM 813              Operation Research

The nature and techniques in operations research; System analysis and modelling; Decision Analysis; Markov chains analysis; Linear, Non-linear, Dynamic & Integer programming, Transportation & Assignment Models, Queuing models, Network Analysis; Inventory and production control; Monte-Carlo & Simulation Methods.

AEM 814              Agricultural Policy Analysis

The economics of agricultural policies. Methods for analyzing costs and benefits of price supports, import restraints, and other policies for producers, consumers, and taxpayers. Policy interventions in the Food and Farm Sectors in Nigeria as well as other developing and  developed countries including their motivations, policy instruments and consequences for factor owners and related commodity markets. 

AEM 815              Economics of Renewable Natural Resources

Basic models of renewable natural resources; Current research issues concerning natural resources with emphasis on problems in commercial and recreational fisheries, forestry, water, fugitive wildlife, and agriculture. Public Policies to correct related market failures: effects on resource use in private sector, optimal pricing of renewable natural resources, and public project analysis.

AEM 816              Environmental Economics

The course provide a graduate-level survey of the two prevailing contemporary themes in environmental economics: the measurement of the demand for environmental resources as input into benefit-cost analyses, and the design of incentive-based, cost-effective policy instruments to achieve environmental goals. Core topics include market failure, conceptual foundations for valuing changes in environmental quality, empirical applications of nonmarket valuation methods, and cost-effective market mechanism design for reducing pollution. Additional topics include information asymmetries and mechanism design for nonpoint source pollution, and international/global environmental issues.

AEM 817              Fundamentals of Economics Welfare Analysis

Measurement of economic well-being for producers, consumers, and resource owners. Topics include competitive equilibrium, Pareto optimality, market failure, public goods and nonmarket welfare measurement, multimarket considerations, existing distortions, and second best. Applications in economic welfare analysis of agricultural and resource policies are discussed.

AEM 818              Applied Welfare Economics & Public Policy

Review of measures of household welfare, willingness to pay, and notions of Pareto optimality, aggregate welfare and market failure. Practical methods of comparative statics analysis of the effect of public policies on consumer and firm behaviour, and on market equilibrium. Theory of externalities and welfare implications of market versus non-market allocation of public goods examined. Applications include evaluation of such policies as taxes, price supports, quotas, pollution controls, environmental damage liability, and intellectual property rights.

AEM 820              Techniques in Environmental Impact Assessments

Legal framework for Environmental Impact Assessment (EIA); The EIA process; Planning and management of EIA studies; Identifying Impacts; Impact prediction; Assessment and evaluation; Impact mitigation and compensation; Public participation, decision-making and EM & A;Strategic EIA. Field trip and case studies

AEM 821:             ENVIRONMENTAL RESOURCES MANAGEMENT AND ECONOMICS – (3 UNITS)

The theoretical structure underlying the economic problems of the environment, the causes of market failure, policies for the environment, and the economic techniques underlying decision (cost-benefit analysis).

AEM 822              Agro-industrial Supply Chain Management

The global agrifood system; The traditional supply chains & its “bullwhip” effect; Food supply chain networks; Supply Chain Management and Logistics; Supply chain redesign; Case Studies of Supply Chain Management in the Agrifood Sector; Critical Success Factors in Supply Chain Management.

AEM 824              Food, Nutrition and Health Economics

This course explores economic aspects of food safety, quality and nutrition and the ways in which economics can aid understanding of food safety, quality and nutritional issues. Food and Nutrition Security: Concepts, Measurements and Health Links; Environmental and Public Health Implications of Industrial Food Production; Social, Economic & Policy Consideration in Food Production; Cultural & Political Considerations in Food Consumption; Sustainable Food Production System; Public Health Management.

AEM 826              Financial Management & Accounting

Principles and concepts of financial management of farm and agribusiness firms; Strategies for acquiring and using capital resources; Agricultural Finance Institutions;  Business records and accounts; Book keeping; Petty cash administration; Reconciling financial records and accounts; Creditor/debtor invoicing; Preparing and processing banking documents; Data entry for ledger and sub-ledger compliance; Meeting auditing requirements;  Preparing and interpreting financial reports including Budgets, Cash Flow Statement, Balance Sheet and the Profit and Loss Account

AEM 830              Organisation and Management of Cooperatives

Nature, types of operations of cooperatives as business enterprises; Cooperative movements and Laws in Nigeria; Problems and prospects in organizing and managing cooperative: Leadership, conflict resolution, financial management.

AEM 851              Applied Microeconomic Theory

Content is same as in AEM 801. Students are however expected to prepare and present a course seminar in which the theoretical contents are applied and/or an extensive review of literature that applied the theories is undertaken.

AEM 852              Applied Macroeconomic Theory

Content is same as in AEM 802. Students are however expected to prepare and present a course seminar in which the theoretical contents are applied and/or an extensive review of literature that applied the theories is undertaken.

AEM 853              Applied Statistics & Research Methods

Content is same as in AEM 803 & 809. Students are however expected to prepare and present a course seminar in which the theoretical contents are applied and/or an extensive review of literature that applied the theories is undertaken.

AEM 854              Applied Econometrics

Content is same as in AEM 804. Students are however expected to prepare and present a course seminar in which the theoretical contents are applied and/or an extensive review of literature that applied the theories is undertaken.

AEM 887              Applied Operations Research

Content is same as in AEM 813. Students are however expected to prepare and present a course seminar in which the theoretical contents are applied and/or an extensive review of literature that applied the theories is undertaken.

MBA (AGRIBUSINESS) COURSE SYNOPSIS

MBA 801:             PRINCIPLES AND PRACTICES OF CROP PRODUCTION – (3 UNITS)

Climate, Soil, Economic and Socio conditions affecting crop distribution and growth. Agronomic grouping of crops.  Crop culture (propagation, climate and soil requirement).  Fertilizers, handling, distribution and economic analysis of specific crops maize, cassava, yam, rice, soyabean, cowpea, cotton, cocoa, citrus, oil-palm, cashew and vegetable.  Cropping patterns and land use systems.

Practical: Visists to selected farms, identification of site, soil, climatic characteristics for land use for given cropping enterprises, Identification of management problems at selected sites: fertility, seed control, pest diseases, harvesting, storage, processing, utilization problem.

MBA 802:             COMMERCIAL PRODUCTION OF FEED STUFF/FEED AND QUALITY – (2 UNITS)

factor, feed microscopy:  General Aspects of livestock feed formulation – Information needed before ration formulation can be done. Balancing the Current assessment of feed industry in Nigeria:  Production revisited, remedies.  Feed stuffs: definitions, classification, properties, level of production in Nigeria, usefulness and limitation – carbonaceous concentrates of grain, carbonaceous roughage’s protein concentrates – plant e.g. groundnut cola, soya bean meal, proteinaceous roughage’s commercial processing of feed stuffs: grinding, pelleting, e.t.c. Feed standards and quality: nutrient requirements of various classes of livestock.  Chemical analysis – Proximate composition, profile, anti-nutritional ration, computer in feed formulation, feedmill operation; housing, equipment, records routine activities, cost consideration in feed mill operation.

MBA 803:             PRINCIPLES AND PRATICES OF ANIMAL PRODUCTION

The role of farm animal in National Economy, Problems and Prospects of livestock production, Breeds and Breeding in Farm animals, Management of different farm animal species e.g. common farm operations (routine and occasional). Feeds and housing and control factors to be considered in establishing commercial livestock enterprises, disease management and control in farm animals.

MBA 804:             FOOD PROCESSING TECHNOLOGY: PRINCIPLES AND PRACTICES – MBA (2 UNITS)

Philosophy and principles of post harvest technology, Review of modern techniques in food processing, packaging and storage, Historical developments in the Nigerian food industries, with emphasis on indigenous concepts and cottage industries various commodities Discuss to include technological limitations.

Problems, challenges and future prospects, sensory and nutritional characteristics of foods as affected by method of preservation.  Quality control measures, role of regulatory and legislation.  Commercialization of research results by the Nigerian food industries.  Constraints and the way forward.

MBA 805:             FISHERIES MANAGEMENT ( 2 UNITS)

Fisheries resources and their economic importance with emphasis on Nigeria, Fish production in natural waters – rivers, lakes and in ponds. Management techniques for enhanced fisheries production in river, lakes, coastal water and in ponds.  Basic principles of fish culture; role of Biotechnology in hatcheries and grow-cut operations.  Intergrated fish farming, field trip to fish ponds, hatcheries and fish markets.  Report of field visits to be submitted at the end of course.

MBA 806:             FORESTRY AND WILDLIFE INVESTMENT ANALYSIS

Economics of forest resources management.  Introduction to capital investment analysis, cost benefit models, Economics of multiple-use management of forest resources with emphasis on non-market benefits from the forest.  Optimal harvest criteria for forest products and wildlife.  Any other related introductory to intermediate concepts.

MBA 807:             QUANTITATIVE TECHNIQUES IN MANAGEMENT – (3 UNITS)

Problems in operations management.  The nature of operations research management science and system analysis, resources allocation issues; Linear Programming, Non-linear programming, Dynamic programming and integer programming, Net work Analysis; Inventory and production control, transportation assignment, Markov chains, queing models, Monte-Carlo Simulation, Decision Analysis, Computer programming some language with business application.

MBA 808:             MARKETING MANAGEMENT AND STRATEGY– (3 UNITS)

It includes the study of consumer behaviour, the study of the economic environment competitive and legal constraints as exogenous variables affecting the firm; consideration will be given to marketing information system and marketing research, pricing strategy, products development, channels of distribution, advertising, personnel selling and promotion of commodities/products.  Models for marketing analysis and strategies will also considered.

MBA 809:             RESEARCH METHODS AND STATISTICAL ANALYSIS – (3 UNITS)

Steps in research processes and application, delineation of research problems and development of research objectives, research designs in social research, dataq generation, data analysis, result reporting:  Sequences and series, set theory mathematics of interests, models involving integration and differential equations, matrix algebra with business applications. Data analysis, probability theory, statistical inference and decision.  Analysis of variance, Regression, Time series analysis, short-term forecasting.

MBA 810:             ICT MANAGEMENT – (3 UNITS)

This is intended to develop the students’ word processing and spread sheet skills.  In addition, it will equip them in statistical, linear programming and data based package.

MBA 811:             FOOD INDUSTRY AND AGRIBUSINESS SYSTEM – (3 UNITS)

Students are expected to learn about agro-industrial chains and their environments explicity and about technologies.

Detailed examination of food industry and Agribusiness system, cost structure and sources of revenue in food industries (case studies), International Trade and Agricultural policies, International Monetary Environment as it affects Food and Agro-Allied Industries, Social and Economics impact of food and Agro-Allied industries on the environment, Development trends of technologies in Food and Agro allied industries.

MBA 812:             ECONOMICS FOR AGRIBUSINESS MANAGER – (3 UNITS)

This course will introduce students to basic economic concept such opportunity cost the theory of the margin, e.t.c. and cover topics such as price determination, costs theory of the firm and industry structure.  All the topics will be treated with special emphasis on emphasis on application to agribusiness ventures.  The course will also touch on the macro-economic factors that determine the broader business environment in which firms have to operate.

MBA 813:             STRATEGIC MANAGEMENT – (3 UNITS)

Review of Management Theories.  Leadership Theory Theoretical and practical elements of strategic management.  Strategy formulation, Goals and action plans.  Strategic Decision making.  Strategy implementation and control.

MBA 814:             CORPORATE FINANCE –  (3 UNITS)

Alternative source of company finance and their importance to Nigeria Industry.  The nature and rle of the joint stock banks and merchant banks as provider of corporate finance.  The operation and importance of the stock exchange and government financial institutions.  The importance of internal generated funds e.g. retained profits and depreciation provisions, International source.

Capital/Financial Market analysis, sources and cost of financial structure and operating leverage, financial planning and control.  Tools of financial statement analysis working capital management.  Dividend policy and internal financing, small business financing in Nigeria, Industrial and financial risks.  The selection and financing of investment opportunities.  The theory of optimal investment decisions.  A critical comparison of investment and financial decision.

MBA 815:             COST AND MANAGEMENT ACCOUNTING – (3 UNITS)

Objectives and function of management accounting strategic planning and management control, budgets – Operating and Budgets, budgetary control, standard and Marginal costing, the contribution margin concepts variance for optimal decisions with reference to prices, output and replacement  of assets, cost behaviour, cost volume profit analysis, Cost profit centres, Management information systems.

MBA 816:             BUSINESS POLICY AND CONTRACTS –  (3 UNITS)

Structural aspects of business system.  Executive roles, objectives and strategy.  The company and its environment.  International diagnosis. Implementing strategy.  System design and planning, measuring management performance, social responsibility and ethics in management, principles of business contracts; elements of contracts partnership and company law.  All law relating to business operations in Nigeria will be treated.

MBA 817:             AGRICULTURAL PRODUCTION ECONOMICS  – (3 UNITS)

Theory of production, agricultural production functions, theory of cost demand and supply functions; pricing of factors of production and income distribution optimization of production and firm planning under uncertainty.  Efficiency and innovation in agriculture, fix asset theory dynamics and technical change.

MBA 718:             PERSONNEL MANAGEMENT  (HUMAN RESOURCES MANAGEMENT)– (3 UNITS)

The practice of personnel management.  Personnel planning, Recruitment and selection Training and Development Compensations.  Labour Relations, Personnel research evaluation techniques and performance appraisal: Resource Planning Supervision, Leadership.

MBA 819:             AGRICULTURAL MARKETING SYSTEMS AND POLICIES  –  (3 UNITS)

The course analyses agricultural and food marketing systems through a study of the functions they perform and the institutions of which they are compose.  Lectures are complemented by case studies drawn from developed and developing economies.  The course will also cover the marketing policy agenda in developing economy; food security problems, institutional development, infrastrututal development, trade development, e.t.c. and the effectiveness of existing policies national and in international terms.  Topics also include pricing policy issues such as price-quality issues, dealing policies, multipart pricing, peak land pricing franchinsing.  This is designed to assist would be managers in making pricing decisions.

MBA 820:             FINANCIAL ACCOUNTING  –  (3 UNITS)

The basic Accounting process, Accounting, Transactions and the basic accounting information, problem of accounting principles.  Theories and pratice in Nigeria.  Calculation and disclosure of period income Measurement of Assets, Liabilities and Income Accounting valuation process, special reporting problems of multiple entry, accounting for non-profit concerns, Financial Statements (Preparation and Interpretation) double entry book keeping, trial balance, Preparing profit and loss account and Balance sheet, Analysis of accounting statements, Problems and Limitations in the light of the economic environment of firms.

MBA 822:             COMPANY TAXATION – (3 UNITS)

Company Taxation, the basis of assessment of company taxes, Capital allowances, Relief for small companies, capital gain tax capital transfer tax petroleum profit tax, taxation and international trade, double taxation relief and double tax treaties.  A comparable study of income tax law within ECOWAS.  An introduction to tax planning.

MBA 823:             MANAGEMENT OF LARGE SCALE AGRO-BASED ENTERPRISES –  (3 UNITS)

This course will basically be a practical – oriented course.  It will involve extensive application of Agribusiness management principles to practical business management problems.  These include production planning, monitoring and control, marketing management, financial management  and control, business growth planning.  Case studies will be taken for agro- industrial enterprises as well as large scale farm, trips will also be a part of the course.

MBA 824:             PROJECT APPRAISAL AND EVALUATION  – (3 UNITS)

Meaning of project appraisal and evaluation, relationship between appraisal and planning, distinction between economic and financial appraisal, tools of project analysis, issues in appraisal of agricultural projects, preparation of fesibility reports, planning of agricultural development, formulation of agricultural plan implementation.  The focus of the course will be on public sector cost benefit and cost effectiveness analysis and decision making.  It will also highlight some private sector applications topics will include government economic activities and the need for a theory of public expenditure.  The concepts and problems of efficient resource allocation public goods externalities and indivisibility.  Social cost and market imperfections.  The problem of measurement of benefits and intensities, time factor and treatment of risk and uncertainty.   Case studies in cost benefit and cost effectiveness analysis using agricultural and/or agro industrial projects.

MBA 825: MBA LANGUAGE PROGRAMME (3 UNITS)

Language Skills; Communication Methods and Styles; English for Specific Purposes; Structures en Presentations in Business Correspondence;   Content, vocabulary  & style; enquiries; replies &quotations; orders; payment; complaints & adjustment; e-correspondence; miscellaneous .correspondence; in-company correspondence; personnel appointments; negotiating; business proposal.

MBA 827: OPERATIONS MANAGEMENT (3 UNITS)

Issues in operational strategy, process analysis; the use of data and managerial opinion in making effective propositions to address the questions in the cases; Major economic decision problems of production and operations management; aggregate production and work-force scheduling; multi-plant allocation of product; large scale project control (CPM and PERT); production and  inventory control; demand forecasting; quality control; and short run job –shop scheduling; the interaction of production problems with those of other functional areas, queuing theory, dynamic programming, multiple regression and correlation.

MBA 826: ORGANISATIONAL BEHAVIOUR (3 UNITS)

Exposure to essential theories and concepts for analysing managerial problems; Individual and group analysis of cases and experiential exercises; Exchange of ideas and experiences in the classroom; Intensive field-based project work in groups

MBA 829: ENTREPRENEURSHIP (3 UNITS)

Concept and objectives; Objective is to impact knowledge and skills required to start new businesses; Analysis of Personal efficacy and Self Awareness; Personal Characteristics of Entrepreneurs; Identification of Ideas and Venture Capital Opportunities. Sources and Availability of Resources; Finance; Technology; Manpower Appropriate Technology; Government Regulations; National and International Regulatory and Support Environment; Market Plan, Policy and strategy; accounting and keeping Accounts; Financial Statements; Feasibility studies and project evaluation; Student’s Business Plan

MBA 830: CORPORATE STRATEGY (3 UNITS)

Conceptual frameworks and models for the analysis of competitive situations and strategic dilemmas; Insight into strategic management; Analyses of external competitive environment, industry structure, value chain dynamics.

PhD Course Synopses

AEM 901 Advanced Microeconomic Theory & Analysis

Review of Methodology for Economic Analysis: Direct and Indirect Functions; Primal-Dual Approach; Distance Function. Dual Estimation: Use of Flexible Functional Forms, their Motivation and Flexibility, Functional Structure (homogeneity, homotheticity, substitution, separability); Some Popular Examples: AIDS, LA-AIDS, Translog, Generalized Leontieff, Quandratic, Normalized Quadratic, CES; Static and Deterministic Econometric Models – Profit Max, Cost Min, Expenditure Min, and Utility Max;  Static Econometric Models with Risk Aversion and Risk Neutrality- General Short-Run Approaches: Expected Utility max, Expected profit max including Linear-Mean Variance Expected Utility Approach, Long-Run Approach, Modelling Expectations with Distributed Lags;  Imperfect Competition: NEIO Models of Market Performance, Models of Aggregate Market Performance,  Micro-econometric Models of Firm Behaviour; Models of Price Transmission, Time Series/Cointegration Models of Vertical and Spatial Price, Transmission; Structural Change: Non-monetary Demand Influences, Technical Change and Bias, Qualitative Choice Models; Models of Choice in Dynamic Settings

AEM 903 Advanced Macroeconomic Theory & Analysis

Macroeconomic Issues in Agriculture: rising food prices, agriculture and the macro-economy, globalisation and agricultural trade, exchange rates and international trade. Macroeconomic theories and models relating to the determination of output, employment, and the price level within classical, neoclassical, and contemporary frameworks. Review of empirical evidences on the macroeconomics of agriculture. 

AEM 905 Advanced Econometrics

A review of linear regression and hypothesis testing; asymptotic distribution theory; the method of maximum likelihood estimation and implications for hypothesis testing; Wald tests and Lagrange multiplier tests; nonlinear regression techniques; instrumental variables (IV) and two stage least squares (2SLS); generalized least squares and Seemingly Unrelated Regression (SUR); probit, logit, and multinomial logit models; Panel data methods; Simulation methods including parametric and nonparametric bootstrap methods.

AEM 907 Directed Study of Advanced Topics in Agric. Economics

Significant literature in selected fields of agricultural and resource economics to provide a broad background for conducting research in these fields.

AEM 902              Time Series Analysis

Structural Time Series Models: Finite Distributed Lag Models and Infinite Distributed Lag Models; Dynamics, Stability, and Multipliers; Reconciling Structural and Time Series Models; Stationary Time Series: Univariate (AR, MA, ARMA) models: Pattern Recognition, Identification, Estimation, and Forecasting, Covariance Stationary Vector Processes (VAR, VARMA), First Order Augmentation, Bayesian VAR, State Space; Non-stationary Time Series: Trend vs. Difference Stationary; Processes with Deterministic Time Trends; Unit Root Tests, Distributional concerns, Cointegration and Error Correction; Nonlinear Time Series: Deterministic Time Varying Parameters, Threshold models, Smooth Transition Autoregressions; Autoregressive Conditional Heteroscedasticity (ARCH, GARCH) models.