It goes without saying that rational economic thinking is indispensable for farmers as well as governments as both rely on sound economic decision-making to make good and effective policies. And, the course of Agricultural Economics serves the same purpose by making you understand the micro and macro-economic principles towards mitigating problems of the agriculture sector.
What is Agricultural Economics?
Agricultural economics is the study of allocation of scarce resources among myriad dimensions to ensure that the burgeoning population can be fed.
Agricultural economists are concerned with financial issues relating to all aspects of agriculture, its allied activities, supply chain management, marketing, logistics etc.
This inter-disciplinary field is highly beneficial for those who have keen interest in developing advanced numerical skills, analyzing farming policies, financial incentives and innovation.
Universities & Colleges:
• Mcgill University(Quebec)
• Nova Scotia Agricultural College(Nova Scotia)
• Indian Agricultural Research Institute (New Delhi)
• National Dairy Research Institute (Karnal, India)
• Universite Laval(Quebec)
• University of Alberta(Alberta)
• University of Guelph (Ontario)
• University of Manitoba (Manitoba)
• Punjab Agricultural University (Ludhiana, India)
There are several factors which determine one’s pay scale. A fresher can get a package starting from around Rs. 3- 3.5 lakh per annum but with experience of nearly 8-10 years, it may reach Rs. 7-12 lakh per annum.
With a degree in Agri-Economics, you’ll be prepared for careers at the crossroads of farming, commerce, planning, econometrics and more.