AKTU Farm Business Management (BMBAB404) Syllabus PDF – MBA (Agribusiness Management) 4th Semester
Farm Business Management BMBAB404
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- Semester 4
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Syllabus — Farm Business Management
Download PDFBMBAB404 · 3 credits · L-T-P 3-0-0
Course Outcomes
| CO Code | Course Outcome Statement | Bloom’s Level |
|---|---|---|
| CO1 | Describe the nature, scope, and decision areas in farm business management. | K2- Understand |
| CO2 | Apply economic principles such as equi-marginal returns and opportunity cost in solving farm-level problems. | K3- Apply |
| CO3 | Develop and interpret farm plans, budgets, and net worth statements for business decision-making. | K5-Evaluate |
| CO4 | Evaluate and improve the use of land, labour, and capital resources in farm operations. | K5-Evaluate |
| CO5 | Formulate strategies to manage risks and uncertainties in farm enterprises using practical tools. | K6-Create |
UNIT I: Introduction to Farm Business Management (5 hours)
Nature, scope, and characteristics of farm business management; Role and functions of farm business management in agribusiness; Types of farm management decisions and their significance;
Identification and analysis of farm management problems
UNIT II: Principles of Farm Management Decisions (10 hours)
Principle of variable proportion in resource allocation; Cost principles in farm decision making;
Principle of factor substitution; Law of equi-marginal returns and its applications; Opportunity cost principle and its relevance; Other relevant decision-making principles in farm management
UNIT III: Tools of Farm Management and Business Analysis (9 hours)
Farm planning: concepts and process; Farm budgeting: types (partial, complete), steps, and sample budgets; Farm records and accounts: types, significance, common problems; Preparation and interpretation of net worth statements; Farm efficiency measures: productivity and profitability analysis
UNIT IV: Management of Farm Resources (8 hours)
Land resource management: land use efficiency, optimal allocation; Management of agricultural labor: deployment, wages, and productivity; Farm machinery management: selection, investment, and operations; Farm buildings and infrastructure: planning and maintenance
UNIT V: Risk and Uncertainty in Farming (8 hours)
Sources and types of risk and uncertainty in farm business; Risk management strategies: diversification, insurance, hedging, etc.; Decision-making under risk and uncertainty: approaches and models; Practical cases illustrating risk, uncertainty, and risk mitigation in farm business management
Suggested Readings
- Heady, E.O. & Jensen, H. (1960). Farm Management Economics. Prentice Hall.
- Johl, S.S. & Kapoor, T.R. (1973). Fundamentals of Farm Business Management. Kalyani Publishers.
- Kahlon, A.S. & Singh, K. (1992). Economics of Farm Management in India. Allied Publishers.
- Panda, S.C. (2007). Farm Management & Agricultural Marketing. Kalyani Publishers.
- Sankhayan, P. L. (1988). Introduction to the economics of agricultural production. New Delhi: Prentice-Hall of India.
- Subba Reddy, S., Raghu Ram, P., Sastry, T. V. N., & Bhavani Devi, I. (2022). Agricultural economics. New Delhi: Oxford & IBH Publishing Co. Pvt. Ltd.
- Acharya, S. S., & Agarwal, N. L. (2012). Agricultural marketing in India (5th ed.). New Delhi: Oxford & IBH Publishing Co. Pvt. Ltd.
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