AEFM COURSE SYNOPSIS

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AEM 102:    PRINCIPLES OF ECONOMICS         (2 Units)
The need for economics; General Principles of Demand and Supply; the Concept of Production Theory; Economics of Cooperation; Development and Planning Economics of Agriculture.

AEM 201:    PRINCIPLES OF AGRICULTURAL ECONOMICS (2 Units)
Application of Basic Economic Principles of Agriculture; Supply and Demand; Price Determination an Elasticities; Formulation of Models; Factor-Product; Factor-Factor, and Product-Product and their Optimum Conditions; Linear Programming; Agricultural Linkages; Vertical/Horizontal Integration.


AEM 302:    PRINCIPLES OF FARM MANAGEMENT     (3 Units)

Definitions; scope and Importance of Farm Management; Problems and Methods of Collecting Farm Management Information; Farm Record and Accounting; Farm Business and Enterprise Management and Analysis; Farm Planning and Organization; Risk and Uncertainty in Agriculture.  Students will write a Project Report on this course.

AEM 403:    PRINCIPLES OF PRODUCTION ECONOMICS     (2 Units)
Concept of Production; Resource Use in Agricultural Production; Production Functions; Marginal Analysis and Concept of Profit Maximization and Cost Minimization, Allocation of Production Resources.

AEM 501: PRODUCTION ECONOMICS, FARM MANAGEMENT AND ACCOUNTING  (3 Units)
Theory and principles of agricultural production with respect to resource use, resource Allocation, resource and product/enterprise combination, forms of production functions And their characteristics, response analysis, measurement of resource productivity.   The decision making process;  Depreciation techniques, assets fixation; kinds and functions of farm records and accounts, farm planning and analysis, farm budgeting, farm records and inventory, the balance sheet journal and ledger.  Profit and loss statement Preparation, adjusting entries.  Problem of organizing and managing farms, linear Programming.

AEM 502:    BUSINESS MANAGEMENT         (3 Units)
The role of Management in Business.  The Structure of Organization.  Authority and Authority and Responsibility; Co-ordination; Forecasting; Planning and the Formulation of  Policy, Personnel Administration;, Purchasing and Stock Control; The Role of Communication; Industrial “Relation; Control Management, Accounting and Efficiency; Research  and Development.

AEM 503:    AGRICULTURAL MARKETING         (2 Units)
Concepts and Definitions; the Economics of Marketing; The role of marketing in Agriculture; Approaches to Marketing Studies.  Marketing Research; Techniques For Evaluation; Marketing, conduct, Efficiency and Structure; International Trade in Agricultural Commodities.

AEM 504:   AGRICULTURAL DEVELOPMENT AND POLICY     (3 Units)
Historical and Analytical Treatment of Government Agricultural Policies in Nigeria and   Developing Countries; Theories and Policies of Agricultural Development; the Role of Agriculture in the Economy; Problems of Agricultural Development and Planning.  Integrated Rural Development Planning.

AEM 505:    RESEARCH METHODS        (3 Units)
Result-oriented Projects/Studies; Problem Definition and Conceptualization, Hypothesis Formulation and Objectives; Data gathering Methods; Appropriate Methods of Analysis; Time-Chart and Scheduling; Conclusion and Implementable Suggestions.

AEM 506:    INTERNATIONAL TRADE        (2 Units)
Genesis of Trade; International Trade and Economic Expansion; Export and Import Policies; Marketing/Commodity Boards; Balance of Payment Adjustments; Tariffs and Infant Industry Argument.  International trade Agreements; Cartels and Economic Regionalism; International  Organization; Technology Transfer and Impacts on Commodity Development.

AEM 507    ECONOMETRICS              (2 Units)

Need and Econometric Models, Basic Linear Regression Models;  The Method of Least Square; Properties and Assumptions of Least Square Estimators; Coefficient of Correlation; Co-efficient of Determination.  Statistical Tests of Significance of the Estimates; Violations of Basic Assumption; Multi-collinearity, Heteroscedasticity, Auto-Correlation; Multiple regression, Lagged and Omitted Variables.

AEM 508:    AGRICULTURAL FINANCE             (2 Units)
Need and role of Credit in Agricultural Development; Sources of Agricultural Finance; Decision Criteria in Agricultural Investments; Factors affecting  Supply and  effective Utilization of credits; Classification of Credits, Credit Assessment ( the 5Cs of Credit).

AEM 509:    PROJECT MANAGEMENT             (3 Units)
Project and Economic Development; The Project Cycle, determination of Project and Need; Criteria for selection of Projects; Technical, Commercial and Organization, Feasibility; Project Execution and Management; Project Financing; Project Appraisal, Monitoring and Evaluation; Project Refinancing.

AEM 511:    AGRICULTURAL COOPERATIVES          (2 Units)
Meaning and History of Agricultural Cooperatives; Principles of Agricultural Cooperatives; Types of Cooperatives; Organization and Management of Cooperatives; Role of Cooperatives in Agricultural Development in Nigeria; Women in Agricultural Cooperatives.

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