Unit Code: ABM512

Unit Name: Principles of Agricultural Economics

Description: At the completion of this unit a student should be able to determine the nature and scope of agricultural economics and its importance to the agricultural sector and to the Fiji economy. Students will also be able to understand the economic indicators such as circular fLow model, Gross National Product (GNP), Gross Domestic Product (GDP), Human Development Index (HDI), and Basic Needs Poverty Line (BPNL), inflation and unemployment. In addition students will also learn important economic concepts as factors of production, opportunity costs, production possibility frontier, consumer behaviour, indifference curves utility, budget line, discuss demand supply, price, quantity, revenue, demand and supply function. Emphasis has also been placed on market structure, costs economics, law of marginal returns and agricultural economics of international trade.

Learning Target Outcomes:

Prerequisite: N/A

Prerequisite Sentence: Student must be enrolled in the programme.

Credit Point: 15

Offered In: Semester 2