DESCRIPTION OF COURSES
AG ECON 550 AGRICULTURAL DEVELOPMENT AND POLICY ANALYSIS (3L+0P) II
The course is designed to make students understand the concepts of agricultural development and planning and the factors that influence development. The lessons learnt from the development strategies of other countries, particularly USA, Japan, and China are also discussed.
Role of agriculture in economic and rural development. Agriculture in economic development theories - growth stage theories, structural transportation leading sectors and dual economy models. Theories of agricultural development – conservation, urban industrial impact, diffusion, high-pay- off input. Planning for agricultural development in developing countries.
Institutions and agricultural development; collective actions, property rights, transaction cost economics.
Need for separate/sound agricultural policy – resource polices, credit policies, input and product marketing policies – price policies.
Models of agricultural development – induced innovation, biological and chemical processes for mitigating poverty, inequality and unemployment. Indicators of sustainability and its measurement. Measuring bias and technical change.
Agricultural development in the USA, Japan, China and India. Globalization and relevance of development policy analysis. The dilemma of free trade – free trade versus protectionism. WTO agreement on agriculture.