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Agricultural economics
 
 
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Agricultural economics originally applied the principles of economics
Economics

File:Ballard Farmers' Market - vegetables.jpgEconomics is the Social sciences that studies the Production theory basics, Distribution , and Consumption of Good and Service ....
 to the production of crops
CROPS

Covert Rural Observation Post and CROPS officers are specially trained police officers in the United Kingdom.These officers are trained to a high standard in observation, using a variety of technological methods....
 and livestock
Livestock

Livestock is the term used to refer to a domesticated animal intentionally reared in an agricultural setting to produce things such as food or fibre, or for its labour....
 — a discipline known as agronomics. Agronomics was a branch of economics that specifically dealt with land usage
Land use

Land use is the human modification of natural environment or wilderness into built environment such as fields, pastures, and settlements. The major effect of land use on land cover since 1750 has been deforestation of temperate regions....
. It focused on maximizing the yield
Yield

Yield in science, mathematics, and engineering:* Semiconductor device fabrication, the proportion of devices produced which function correctly...
 of crop
Crop

Crop may refer to:* Crop, a plant grown and harvested for agricultural use* Crop , a plant cultivated and harvested on an annual basis considered as personal property as opposed to real property....
s while maintaining a good soil ecosystem
Soil science

Soil science is the study of soil as a natural resource on the surface of the earth including pedogenesis, soil classification and mapping; physical, chemical, biological, and fertility properties of soils; and these properties in relation to the use and management of soils....
. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics.

omics is the study of resource allocation under scarcity.






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Agricultural economics originally applied the principles of economics
Economics

File:Ballard Farmers' Market - vegetables.jpgEconomics is the Social sciences that studies the Production theory basics, Distribution , and Consumption of Good and Service ....
 to the production of crops
CROPS

Covert Rural Observation Post and CROPS officers are specially trained police officers in the United Kingdom.These officers are trained to a high standard in observation, using a variety of technological methods....
 and livestock
Livestock

Livestock is the term used to refer to a domesticated animal intentionally reared in an agricultural setting to produce things such as food or fibre, or for its labour....
 — a discipline known as agronomics. Agronomics was a branch of economics that specifically dealt with land usage
Land use

Land use is the human modification of natural environment or wilderness into built environment such as fields, pastures, and settlements. The major effect of land use on land cover since 1750 has been deforestation of temperate regions....
. It focused on maximizing the yield
Yield

Yield in science, mathematics, and engineering:* Semiconductor device fabrication, the proportion of devices produced which function correctly...
 of crop
Crop

Crop may refer to:* Crop, a plant grown and harvested for agricultural use* Crop , a plant cultivated and harvested on an annual basis considered as personal property as opposed to real property....
s while maintaining a good soil ecosystem
Soil science

Soil science is the study of soil as a natural resource on the surface of the earth including pedogenesis, soil classification and mapping; physical, chemical, biological, and fertility properties of soils; and these properties in relation to the use and management of soils....
. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics.

Origins

Economics is the study of resource allocation under scarcity. Agronomics, or the application of economic methods to optimizing the decisions made by agricultural producers, grew to prominence around the turn of the 20th century. The field of agricultural economics can be traced out to works on land economics. Henry Charles Taylor
Henry Charles Taylor

Henry Charles Taylor was an American agricultural economics. As an early pioneer in the field, he has been called the "father of agricultural economics" in the United States....
 was the greatest contributor with the establishment of the Department of Agricultural Economics at Wisconsin. Another contributor, Theodore Schultz
Theodore Schultz

Theodore William Schultz was the 1979 winner of the Nobel Memorial Prize in Economic Sciences.He was born in Arlington, South Dakota, enrolled in South Dakota State University in 1921 to study agriculture, graduated in 1927, then entered the University of Wisconsin-Madison earning his doctorate in economics in 1930....
 was among the first to examine development economics
Development economics

Development economics is a branch of economics which deals with economic aspects of the development process in developing countries. Its focus is not only on methods of promoting economic growth and structural change but also on improving the potential for the mass of the population, for example, through health and education and workplace c...
 as a problem related directly to agriculture. Schultz was also instrumental in establishing econometrics
Econometrics

Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles....
 as a tool for use in analyzing agricultural economics empirically; he noted in his landmark 1956 article that agricultural supply analysis is rooted in "shifting sand", implying that it was and is simply not being done correctly.

Areas of Concentration

  • Econometrics
    Econometrics

    Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles....
  • International Development
  • Community and rural development
    Economic development

    Economic development is the development of wealth of countries or regions for the well-being of their inhabitants. It is the process by which a nation improves the economic, political, and social well being of its people....
  • Food safety
    Food safety

    Food safety is a scientific discipline describing handling, food processing, and storage of food in ways that prevent foodborne illness. This includes a number of routines that should be followed to avoid potentially severe health....
     and nutrition
    Nutrition

    Nutrition is the provision, to cells and organisms, of the materials necessary to support life. Many common health problems can be prevented or alleviated with good nutrition....
  • International trade
    International trade

    International trade is exchange of Capital , goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product ....
  • Natural resource and environmental economics
    Environmental economics

    Environmental economics is a subfield of economics concerned with environmental issues. Quoting from the National Bureau of Economic Research Environmental Economics program:...
  • Production economics
  • Risk and uncertainty
  • Consumer behavior and household economics
  • Health economics
    Health economics

    Health economics is a branch of economics concerned with issues related to scarcity in the allocation of health and health care. Broadly, health economists study the functioning of the health care system and the private and social causes of health-affecting behaviors such as smoking....
  • Labor economics
  • Forestry economics
  • Analysis of markets and competition
    Competition

    Competition is a rivalry between individuals, groups, nations, or animals, for territory, a niche, or allocation of resources. It arises whenever two or more parties strive for a goal which cannot be shared....
  • Agribusiness
    Agribusiness

    In agriculture, agribusiness is a generic term that refers to the various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, agricultural machinery, wholesale and distribution, processed food, marketing, and retail sales....
  • Agricultural Marketing
    Agricultural marketing

    Agricultural marketing covers the services involved in moving an agricultural product from the farm to the consumer. Numerous interconnected activities are involved in doing this....
  • Agricultural policy
    Agricultural policy

    Agricultural policy describes a set of laws relating to domestic agriculture and imports of foreign agricultural products. Governments usually implement agricultural policies with the goal of achieving a specific outcome in the domestic agricultural product markets....
  • Industrial organization
    Industrial organization

    Industrial organization is a field of economics that studies the strategic behavior of firms, the structure of markets and their interactions. The study of industrial organization adds to the perfectly competitive model real-world frictions such as limited information, transaction cost, cost of adjusting prices, government actions, and barrie...
  • Marketing of agricultural products
  • Rural sociology
    Rural sociology

    Rural sociology is a field of sociology associated with the study of social life in non-metropolitan areas. It is the scientific study of social arrangements and behaviour amongst people distanced from points of concentrated population or economic activity....


Agricultural economics tends to be more microeconomic oriented. Many undergraduate Agricultural Economics degrees given by US land-grant universities
Land-grant university

Land-grant universities are institutions of higher education in the United States that have been designated by each state to receive the benefits of the Morrill Land-Grant Colleges Act....
 tend to be more like a traditional business degree rather than a traditional economics degree. At the graduate level, many agricultural economics programs focus on a wide variety of applied microeconomic topics. During the last decades, graduates from Agricultural Economics departments across America find jobs in diversified sectors of the economy; from corporations to government. Their demand is driven by their pragmatism, optimization and decision making skills, and their skills in statistical modelling.

See also

  • agrarian law
    Agrarian law

    Agrarian laws were Roman law among the Ancient Rome regulating the division of the public real property, or ager publicus.There existed three types of land in ancient Rome: private land, common pasture, and public land....
  • agrarian reform
    Agrarian reform

    Agrarian reform can refer either, narrowly, to government-initiated or government-backed redistribution of agricultural land or can refer more broadly to an overall redirection of the agrarian system of the country, which often includes land reform measures....
  • agribusiness
    Agribusiness

    In agriculture, agribusiness is a generic term that refers to the various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, agricultural machinery, wholesale and distribution, processed food, marketing, and retail sales....
  • land economics


External links

  • Universities


  • Research institutions
    • Cornell Food and Brand Lab


  • Academic and professional associations


  • Academic journals


  • Digital library