Description

ABOUT THE BOOK

This book first deals with the fundamentals of farm management science. Discussion is pointedly focused on the meaning of farm management, characteristics of farming as a business, basics of farm production decisions, application of farm management principles and the basic tools of farm business analysis. Here the book attempts to explain important farm management concepts which the student need to master before taking up advance courses. Next we discuss the principles of resource use planning. Important farm inputs such as land, labour, machinery, buildings, etc., are dealt with in order to explain how best each of these resources can be managed. The management problems concerning different farm resources are identified and application of the management principles to solve these individual resource-use problems demonstrated. The last chapter deals with the subject of risk and uncertainty in agriculture as it affects the decision of the farmer in a developing country. The book covers the Syllabi Recommended by 5^th Dean’s Committee of ICAR and will be useful to UG & PG students of SAUs

Agricultural production economics is an applied field of science wherein the principles of choice are applied to the use of capital, labour, land and management resources in the farming industry. it is concerned with the choice of production pattern and resources use in order to maximize the objective function of farmers, their families, the society or the nation within a framework of limited resources. Production economics is concerned with two broad categories of decision in the production process. Firstly, how to organize resources in order to maximize the production of a single commodity i.e. choice making among various alternative ways of using resources. Secondly, combination of different commodities to optimize the produce. With a view to optimize the use of farm resources on an individual farm level and to rationalize the use of resources. From a national angle, production economics involves analysis of relationship and principles of rational decisions.

An effort has been made in compiling this book to cover the entire syllabus recommended by 5^th Dean’s committee incorporating topics such as methods/techniques of production, combination of enterprises, size of enterprise, size of the farm, returns to scale, leasing, production possibilities, farming efficiency, use of credit and capital, risks and uncertainty which affect decision making.

CONTENTS

ABOUT THE AUTHOR

LAXMI LAL SOMANI is Retired Director Resident Instructions, MPUAT, Udaipur. He has over 400 research and technical articles to his credit. He has authored/edited over 15 dozen scholarly books in various fields of agriculture. Prof. Somani has been honored with several academic excellence awards for his outstanding achievements.