Agricultural Economics is an interdisciplinary field that combines both, micro and macroeconomic principles towards solving problems of the agriculture industry. This branch of economics covers a vast arena of issues, including, but not limited to utilisation of farm resources, accounting, logistics and supply chain management and optimizing farm output.
An agricultural economics job requires one to focus on a plethora of factors, ranging from crop and animal health and studying the effect of weather on them to monitoring crop prices and fluctuations in the commodity market and observing buying patterns and consumer preferences .
In doing so, the ultimate aim of an agricultural economist is to ensure optimum output with efficient utilisation of available resources and deriving maximum profit in the market. In a traditionally agriculture dominated society of India, it is hard to overstate the economic imperative of a career in agricultural economics.
A master’s degree is considered a prerequisite to a successful career in agricultural economics. A B.Sc. in agricultural economics or a related subject is specified as a criterion for entrance into a two-year M.Sc. course by most agricultural economics colleges. A number of institutes also provide a doctorate ( Ph. D.) in agricultural economics, for which a master’s degree is needed
Agricultural economics is an applied social science that deals with how producers, consumers, and societies use scarce resources in the production, marketing, and consumption of food and fiber products.
This field of study uses economic principles to analyze agricultural markets, policies, and institutions. It also examines the social, environmental, and ethical aspects of agriculture.
Agricultural economists work in a variety of settings, including government agencies, universities, and private businesses. They use their skills to help solve problems in the agricultural sector, such as food insecurity, climate change, and rural development.
Recent technological advances in the food production and processing industry have galvanised the field. The demand for well trained specialists, along with a spurt in the number of institutes offering agricultural economics courses, has served to create a number of jobs.
Being a trained agricultural economists opens up a veritable cornucopia of options for employment. One can choose to work either in the government sector (involved in the conservation and marketing of agricultural produce) or the private sector (as farm or agricultural business manager and agricultural consultant).
A degree in agricultural economics also opens up options to venture into the field of veterinary management and medicine. Besides this, agricultural economics jobs provide ample scope for gainful self employment as independent agricultural consultants and in sale, appraisal and management of farms.
This demand for well groomed professionals with in-depth knowledge of the marketing, farm management and logistics of the agriculture industry is set to increase further, not only in the India, but also internationally as well.
While a number of factors, such as experience and expertise in the chosen field determine the starting salary, a beginner can expect to earn anywhere between INR 1.2 to 1.8 Lakhs per annum. With experience, however, an agricultural economist’s salary can go up to INR 6 Lakhs per annum depending on whether one is employed in the Public or the private sector.
Here are some colleges in India and abroad that you should look up if you’re interested in this field.
M.Sc. Agricultural Economics Universities
- University of Allahabad
Faculty of Animal Husbandry,
Allahabad 211002
- Indian Agricultural Research Institute
- University of Agricultural Sciences
Founded in 1821. 80 acre urban campus.
Founded in 1905. 408 acresmall town campus.
Founded in 1852. 465 acre urban campus.
Founded in 1906. 154 acre urban campus.
Founded in 1964. 1200 acre suburban campus with easy access to Toronto.
Noteworthyresearch facility.
Founded in 1877. 685 acre suburban campus.
Founded in 1907. 363 acre urban campus. Noteworthy research facility
Home CBSE Compartment Result 2023 OUT: Click For Direct Link The CBSE 10th Compartment Result 2023 is expected to be
Home IIT Roorkee Launches Professional Certification Program in Product Management The fees five-month long programme is for Rs 1,40,000 +
