DESCRIPTION OF COURSES

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AG ECON 620 AGRICULTURAL PRODUCTION AND RESOURCE ECONOMICS-III (LINEAR PROGRAMMING)                                                                            (2L+1P) III

Objective
  This course is meant to familiarise students with the theory and application of various optimization techniques such linear programming, variable resource programming; recursive programming, game theory, goal programming, in agriculture.

Theory

UNIT I ( INTRODUCTION TO LINEAR PROGRAMMING)
  Problem formulation for programming; preparation of input-output matrix, objective functions and constraint equations. Assumptions of linear programming; basic and non-basic solutions; feasible and infeasible solutions. Linear Programming: Graphical method; Simplex method; Simplex method and its application for solving agricultural problems; use of artificial factors; problems of degeneracy, inconsistency, infeasible and unbounded solutions. Generalised simplex method; dual simplex method. integer programming; recursive programming. Transportation models. Application of linear programming for solving practical problems in farming with the help of following: Variable resource programming; variable price programming

UNIT II (RISK PROGRAMMING)
  MOTAD and its extensions. Theory of games and application of linear programming for solving games problems in farm decision making. Sensitivity analysis. Goal programming and its application. Dynamic programming.

Practicals
  Graphical and algebraic formulation of linear programming models. Solving of maximization and minimization problems by simplex method. Formulation of the simplex matrices for typical farm situations.

Suggested Readings