Lovely Professional University, Punjab

Course Code

Course Title

Course Planner

AGR371

PRINCIPLES OF AGRICULTURAL ECONOMICS

AND MARKETING
ATT: 5 CA: 20 MTT: 25 ETT: 50

19461::Dr. Sharad Sachan

Course Weightage
Course Orientation

Lectures Tutorials Practicals Credits

3

Exam Category: 13: Mid Term Exam: All MCQ End Term Exam: MCQ +
Subjective
COMPETITIVE EXAMINATION (Higher Education), ENTERPRENEURSHIP, KNOWLEDGE ENHANCEMENT, PLACEMENT
EXAMINATION, RESEARCH, SKILL ENHANCEMENT

TextBooks ( T )
Sr No

Title

Author

Publisher Name

T-1

AGRICULTURAL ECONOMICS

REDDY

OXFORD & IBH

Reference Books ( R )
Sr No

Title

Author

Publisher Name

R-1

AGRICULTURAL ECONOMICS

OS SHRIVASTAVA

RAWAT PUBLICATIONS

Other Reading ( OR )
Sr No

Journals articles as Compulsary reading (specific articles, complete reference)

OR-1

https://www.ipfw.edu/dotAsset/142427.pdf ,

OR-2

homepage.univie.ac.at/robert.kunst/macro1.pdf ,

OR-3

economics.sas.upenn.edu/~jesusfv/macro_jfv.pdf ,

OR-4

global.oup.com/uk/orc/busecon/economics/witztum/resources/qandas/ ,

OR-5

lib.mdp.ac.id/ebook/.../Karya%20Umum-Microeconomics%20Exercises.pdf ,

Relevant Websites ( RW )
Sr No

(Web address) (only if relevant to the course)

Salient Features

RW-1

http://econpapers.repec.org/article/agsaerrae/

Principles of agriculture economics

RW-2

http://catdir.loc.gov/catdir/samples/cam031/88010297.pdf

Agricultural economics

RW-3

http://ecourses.iasri.res.in/

The website is relevant and contains all the syllabus

RW-4

https://www.ipfw.edu/dotAsset/142427.pdf

Contains more information for the course

RW-5

14.01SC textbook "Principles of Microeconomics"

Contains relevant subject matter

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Audio Visual Aids ( AV )

Sr No

(AV aids) (only if relevant to the course)

Salient Features

AV-1

https://www.youtube.com/watch?
v=Vss3nofHpZI&list=PL61533C166E8B0028&index=1

Contains video lectures. please follow the playlist

AV-2

https://www.youtube.com/watch?v=e18RXFFoL9c

video lecture for macro economics

AV-3

https://www.youtube.com/watch?v=BnYxOC6CYuQ&index=4&list=PLM9WI4yn8BKpJUc_u0uHokYV-RPIqTTW

macroeconomics video lectures and follow the playlist

LTP week distribution: (LTP Weeks)

Weeks before MTE

Weeks After MTE

Spill Over (Lecture)

Detailed Plan For Lectures

Week
Lecture
Number Number

Broad Topic(Sub Topic)

Chapters/Sections of Other Readings,

Text/reference
Relevant Websites,
books
Audio Visual Aids,
software and Virtual
Labs

Lecture Description

Learning Outcomes Pedagogical Tool Live Examples

Demonstration/
Case Study /
Images /
animation / ppt
etc. Planned

Week 1

Lecture 1

Economics - its subject

matter(Divisions of
Economics)

T-1

RW-3

L1: Introductory lecture

L2: Understanding
Divisions of economics
i.e microeconomics and
macroeconomics

L1: Students will

Powerpoint
become aware of the presentation and
objectives of the
Brainstorming
course
L2: Students will
become aware about
the subject matter of
economics in form of
traditional and
modern approach

Lecture 2

Economics - its subject

matter(Definition of
Economics)

T-1

RW-3

Understanding
economics by different
definitions on
economics given by
different economists.

Students will become Powerpoint

aware about four
presentation and
concepts i.e wealth, Brainstorming
welfare, scarcity and
growth concepts

Lecture 3

Economics - its subject

matter(Economics-A social
science)

T-1

RW-2

Understanding
economics as social
science affecting their
views

Students will
Powerpoint
become aware about presentation and
different branches of Discussion
Economics and
understand
economics as science
and art

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 2

Week 3

Lecture 4

Economics - its subject

matter(Economics-Positive
science or normative
science)

T-1

OR-5

Understanding
economics as
positive science or a
normative science
effecting ethical values

Students will
Powerpoint
become aware of
presentation and
whether economics is Discussion
normative or positive
science

Lecture 5

Economics - its subject

matter(Importance of
Economics)

T-1

RW-3

Understanding the
importance of
economics such as
understanding world and
indian trade

Students will become Powerpoint

aware about
presentation and
importance of
Discussion
economics such as
enhancing the
knowledge for world
affairs, country,
export and import

Lecture 6

Economics - its subject

matter(Agricultural
Economics: Meaning,
Definition)

T-1

RW-3

Understanding
economics in
perspective of
agriculture

Students will
Powerpoint
become aware about presentation and
role of economics in Discussion
the field of
agriculture

Lecture 7

Consumer behaviour and

demand(Human wants)

T-1
R-1

AV-1

Human wants, their

Students will
Discussion, Charts
classification,
have knowledge
characteristics and types about human wants,
their classification to
apply in practical
world

Consumer behaviour and

demand(Law of diminishing
marginal utility)

T-1
R-1

AV-1

Laws of
diminishing utility, its
assumptions, exceptions
and importance

Students will
Discussion, Charts
have knowledge
about law of
dimnishing marginal
utility, its practical
importance

Consumer behaviour and

demand(Law of
Equimarginal utility)

T-1

AV-1

Laws of equimarginal
utility, exceptions and
its uses

Students will
Discussion,
learn about practical Powerpoint
importance of the
presentation
law, its importance ,
assumption and
exceptions

Consumer behaviour and

demand(Consumer's surplus
and producer's surplus)

T-1

AV-1

consumer and producer

surplus with examples

Students will
learn about practical
importance of these
surplus

Consumer behaviour and

demand(Indifference curve)

T-1

AV-1

Indifference curve,
characteristics and
consumer equilibrium

Students will learn

Discussion,
the concept of
Brainstorming
Indifference curve, its
practical importance
in decision making

Consumer behaviour and

demand(Demand)

T-1

AV-1

Basic ideology of
demand and requisites
of demand

Students will learn

the concept
and importance of
creating demand

Lecture 8

Lecture 9

Discussion,
Powerpoint
presentation

Discussion,
Brainstorming

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 4

Lecture 10 Consumer behaviour and

demand(Kinds of Demand)

T-1

RW-3

Kinds of Demand i.e

price demand, cross
demand and income
demand

Students will learn

Powerpoint
about the different
presentation and
types of demand and Brainstorming
how the price effect
the demand.

Consumer behaviour and

demand(Law of demand)

T-1

RW-3

Basic concept behind

the law of demand i.e
price increases demand
decreases

Students will learn

Powerpoint
the concept how the presentation and
law of demand works Brainstorming
and how it effects the
life

Lecture 11 Consumer behaviour and

demand(Elasticity of
demand)

T-1

AV-1

Change in response due Students will learn

Power point
to change in demand
basic concept of
presentation and
elasticity of demands Discussion
prevalent in
economics and how
price effect it.

Consumer behaviour and

demand(Degrees of
elasticity of demand)

T-1

AV-1

Degrees of elasticity of Students will learn

demand i.e perfectly
basic concept of
elastic, elastic, Zero etc degree of elasticity
of demands
prevalent in
economics and how
price effect it.

Lecture 12
Week 5

Power point
presentation and
Discussion

Test 1

Lecture 13 Supply(Law of supply)

T-1
R-1

AV-1

Law of supply i.e price

increases,supply
increases.

Students will learn

about the law of
supply and how it is
effected by price

Supply(Elasticity of supply)

T-1
R-1

AV-1

Elasticity of supply
Such as price elasticity,
income elasticity and
cross elasticity

Students will get

Powerpoint
acquainted with basic presentation and
concepts of elasticity Brainstorming
of supply and its role
in economy

Lecture 14 Supply(Price determination)

T-1

AV-1

Basic concept on how

the price is determined
by demand and supply
curve

Students will get

Powerpoint
acquainted with basic presentation and
concepts of the role Discussion
of price
determination and its
role in economy

Lecture 15 Production(Factors of
production)

T-1

RW-2

Study the factors of

production i.e land,
labour, capital etc

Students will learn

about factors of
production and their
importance in
production

Powerpoint
presentation and
Discussion

T-1

RW-2

Understanding the land

in perspective of
economics

Students will learn

about the meaning
and Important of
theories of land

Powerpoint
presentation and
Discussion

Production(Land)

Powerpoint
presentation and
Brainstorming

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 6

Lecture 16 Production(Labour)

T-1
R-1

RW-2

labor, their
Students will learn
Powerpoint
characteristics and types about the practical
presentation and
importance of labour Discussion
in economy and
agriculture and their
significance in
production

Lecture 17 Production(Theories of
population)

T-1
R-1

RW-4

Different theories of
population such as
malthusian theory of
population

Students will learn

Powerpoint
about the different
presentation and
theories of population Discussion
and their practical
importance

Lecture 18 Production(Capital)

T-1

RW-2

capital,Its formation,
types

Students will acquire Powerpoint

knowledge regarding presentation and
the capital and its use Discussion
in economic
development

T-1

RW-2

Various partnership
regarding business

Students will acquire Powerpoint

knowledge regarding presentation and
the partnership
Discussion
prevailing in practical
world and their
importance

T-1
R-1

AV-3

cooperative organization Students will learn

impact on business
the
cooperative
organization and
understand their
practical application

Production(Partnership)

Week 7

Lecture 19 Production(Co-operative
organization)

Powerpoint
presentation and
Discussion

SPILL OVER
Week 7

Lecture 20

Spill Over

Lecture 21

Spill Over

MID-TERM
Week 8

Lecture 22 Market structure(Perfect

competition)

T-1

AV-1

Concept of
Students will
perfect competition and Learn basics of
its analogies
perfect competition
and understand
the ideology behind
it
competition and its
practical aspects

Slides,
Brainstorming and
discussion

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 8

Week 9

Lecture 23 Market structure(Imperfect

competition)

T-1

Lecture 24 Market structure(Monopoly)

T-1

Market structure
(Monopolistic competition)

T-1

Lecture 25 Market structure(Duopoly)

T-1

Market structure(Oligopoly)

AV-1

AV-1

T-1

Lecture 26 Market structure

(Monopsony)

T-1

Market structure
(Oligopsony)

T-1

AV-1

Imperfect
competition and its
analogies

Students will
Slides,
learn and understand Brainstorming and
the ideology behind discussion
imperfect
competition and its
practical aspects

Monopoly market, its

importance and
examples

Students will learn

Powerpoint
about the concept of presentation and
monopoly and why it discussion
exist

Monopolistic
competition and its
examples

Students will learn

about the concept of
Monopolistic
competition

Powerpoint
presentation and
discussion

Duopoly competition
and its examples

Students will learn

the meaning and
concept of Duopoly
and its practical
implication

Powerpoint
presentation and
Discussion

oligopoly competition
and its examples

Students will learn

Powerpoint
the meaning and
presentation and
concept of oligopoly Discussion
and how it works

Monoposony
competition and its
examples

Students will
Powerpoint
understand the
presentation and
practical implication Discussion
of monopsony market
types

Oligopsony competition Students will

Powerpoint
and its examples
understand the
presentation and
practical implication Discussion
of oligopsony market
tyes

Lecture 27

Term paper

Week 10 Lecture 28 Welfare Economics

(Meaning)

T-1

AV-3

Meaning of welfare
economics and its
importance

Students will learn

Powerpoint
basic idea of welfare presentation and
economics
Discussion

Lecture 29 Welfare Economics

(Meaning)

T-1

AV-3

Meaning of welfare
economics and its
importance

Students will learn

Powerpoint
basic idea of welfare presentation and
economics
Discussion

Meaning of pareto
optimality and its
importance

Students will learn

Powerpoint
basic idea of pareto presentation and
optimality and how it Discussion
effects welfare
economics

Welfare Economics(Pareto's
optimality)

T-1

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 10 Lecture 30 Welfare Economics(Taxmeaning)

Welfare Economics
(Classification of taxes)

T-1

AV-3

T-1

Meaning of Tax and

how it is applied

Students will come to Powerpoint

know the meaning of presentation and
tax
Discussion

Classification of taxes in Students will come to Powerpoint

direct and indirect taxes know why the taxes presentation and
are taken and how are Discussion
they classified

Week 11 Lecture 31 Welfare Economics(Public

Finance: Meaning,
Principles.)

T-1
R-1

AV-3

finance, its meaning,

importance to the
economy

Lecture 32 Welfare Economics(Public

Resource: Meaning,
Services Tax, Meaning)

T-1

AV-3

Meaning of public
student will become Powerpoint
resource, its importance aware about public
presentation and
and service tax
resource and service Brainstorming
tax, its importance in
society and country.

T-1

AV-3

canon of taxation such

as convenience etc.

Welfare Economics
(Cannons of Taxation)

Lecture 33

student will become

aware about the
finance, its system,
its importance and
how it effects the
production

Powerpoint
presentation and
Brainstorming

Students will come to Powerpoint

know the taxation
presentation and
principles to
Brainstorming
minimize the society
stress

Test 2

Week 12 Lecture 34 National income

(Understanding and meaning
of national income)

T-1

AV-3

Meaning of national
Students will
income and its effect on understand the
economy
utility of
national income

PowerPoint
presentation and
discussion

Lecture 35 National income

(Understanding and meaning
of national income)

T-1

AV-3

Meaning of national
Students will
income and its effect on understand the
economy
utility of
national income

PowerPoint
presentation and
discussion

Lecture 36 National income(Concepts

of national income)

T-1

AV-3

Concepts of national
income such as GDP,
GNP etc

Students will learn

Powerpoint
about the Concepts of presentation and
national income and discussion
its importance on
indian economy

Concepts of Public
expenditure: Meaning,
Principles for betterment
of people

Students will learn

Powerpoint
about the Concepts of presentation and
Public expenditure: discussion
Meaning, Principles,
Its advantages and
importance in
economic
development

National income(Public
expenditure: Meaning,
Principles)

T-1

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Week 13 Lecture 37 National income(Inflation:

Meaning, Definition, Kinds
of inflation)

T-1

AV-3

Inflation: Meaning,
Definition, Kinds of
inflation and its effect
on economy

Students will learn

Powerpoint
about the Inflation:
presentation and
Meaning, Definition, discussion
Kinds of inflation and
its practical
implication in world

Lecture 38 Money(Concepts of money)

T-1

AV-3

Development stages of
money, functions and
importance

Students will learn Powerpoint

the basic Concepts of presentation and
money and their
Discussion
practical importance

Lecture 39 Money(Concepts of money)

T-1

AV-3

Development stages of
money, functions and
importance

Students will learn Powerpoint

the basic Concepts of presentation and
money and their
Discussion
practical importance

T-1

AV-3

Money and its kinds

such as paper money,
bank money, token
money etc

Students will learn

about the Kinds of
money and practical
application

Week 14 Lecture 40 Money(Kinds of money)

Powerpoint
presentation and
discussion

SPILL OVER
Week 14 Lecture 41

Spill Over

Lecture 42

Spill Over

Week 15 Lecture 43

Spill Over

Lecture 44

Spill Over

Lecture 45

Spill Over

Scheme for CA:

CA Category of this Course Code is:A0203 (2 best out of 3)
Component

Weightage

Term paper

50

Test

50

Test

50

Details of Academic Task(s)

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.

Academic Task

Objective

Term paper

Detail of Academic Task

Nature of Academic
Task
(group/individuals)

Academic Task Marks

Mode

Allottment /
submission
Week

To enable
The different topics will be allotted to the group of max 5
students to
students, and topics will be assigned to different group of
visualize
students.
themselves in real
life situations and
develop an
analytical
approach in
decision making

Individual

Offline

30 2 / 9

Test 1

To assess the
conceptual
knowledge of
course to analyse
cost concept for
better farming.

Questions will be asked from following topics: Division of

Economics, Definition of economics,Economics as social
science,
positive science and normative science.

Individual

Offline

30 3 / 4

Test 2

To assess the
subject
understanding and
application for
analysis farm
related economic
parameters

Six questions of 5 marks each will be asked from following

Individual
topics:Perfect competition, Imperfect competition, Monopoly,
Monopolistic competition, Duopoly, Oligopoly, Monopsony,
Oligopsony, Pareto's optimality, Tax-meaning, Classification
of
taxes, Public Finance: Meaning, Principles., Public Resource:
Meaning, Services Tax,
Meaning, Cannons of Taxation

Offline

30 10 / 11

List of suggested topics for term paper[at least 15] (Student to spend about 15 hrs on any one specified term paper)
Sr. No.

Topic
1 1. Economics as art and science
2 Understanding the law of diminishing returns and practical implications
3 Laws of equimarginal utility
4 National income and its mobilization
5 Price determination concept
6 Indian economy and its present scenario
7 Laws of supply and demand
8 Market implications in India
9 Supply demand chain and kinds of markets
10 Present status of Indian economy and its future prospects in global market
11 Trade and its globalization
12 Marketing strategies for better economy
13 Production inputs and factors of production
14 Future trends in market structure
15 Decision making in price determination

An instruction plan is a tentative plan only and a teacher may make some changes in his/her teaching plan. The students are advised to use syllabus for preparation of all examinations. The students are expected to keep themselves
updated on the contemporary issues related to the course. Upto 20% of the questions in any examination/Academic tasks can be asked from such issues even if not explicitly mentioned in the instruction plan.