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Introduction to Agricultural Economics [Theory and Practice] - AME1501

Diploma Semester module NQF level: 5 Credits: 12
Module presented in English
Purpose: The module is part of the 4-year Bachelor of Science in Agriculture (Agricultural Economics option). It is intended for Agricultural Economists, researchers, trainers and facilitators in the field of agriculture. It will be useful for students who want to pursue agricultural economics or farming as a career. Students accredited with this module are able to: define the concept of "The economic problem" and relate it to the agricultural production situation, describe the four factors of production, explain the problem of consumer choice in the market, understand and apply the concepts of supply and demand on the market and how the government intervenes in the market, describe input/output relationships in production economics and understand market structures that exist in the economy.