Agricultural Economics

As an agricultural economist you will apply economics concepts in agriculture by analysing the current and future economic conditions in the market and also demand and plan strategies for the future.

What do agricultural economists do?

Agriculture economists’ primary objective is to increase the agriculture”s profitability. They are also concerned with the manufacturing and distribution of the agriculture products. They help the government and other concerned agencies in policy making and consumption. They also do the financial or economic evaluation of the agricultural projects and the market on the whole.

What does a typical day at work involve?

  • Checked Monitoring food production
  • Checked Maximising productivity with minimum investment and thereby maximising the profit
  • Checked Managing farms and agricultural resources and applying the basic concepts in problem solving
  • Checked They supervise the changing trends and predict the cause and effects of these changes
  • Checked Planning and implementing strategies and according to market demand
  • Checked Managing land, livestock, soil content, crops, raw materials and irrigation techniques etc

What are the Specialisations in Agricultural Economics

This area focuses on marketing aspects of agriculture products. This includes the pricing, price systems and all market types
This area focuses on the principles of financing and applying it in the agricultural process and various methods and techniques.
This area focuses on the relation between the input and output or the labour costs and other expenses and the profit from agriculture processes.
This area focuses on planning and formulating policies for agriculture like trade policy, production and price policy.

How to become an Agricultural Economist ?

Step 1
Take Science Stream at +2 with Physics, Chemistry and Biology/ Biotechnology

To take up an undergraduate course in Agriculture and related disciplines you may take Science stream with Physics, Chemistry and Biology/ Biotechnology.

Step 2
Take BSc in Agricultural Economics/ Agriculture

BSc Agricultural Economics is not commonly available in India but the subject is included as part of the 4 year bachelor’s program in Agriculture. Bachelor’s programs in Agricultural Economics is available in Foreign universities.

Step 3
Take MSc Agricultural Economics

Master’s degree of two years duration in Agricultural Economics can be taken up after completing a Bachelor’s course in Agricultural Economics/Agriculture.


Note :

Some Universities allow admission to MSc Agricultural Economics for graduates in Agriculture/ Horticulture/ Vet.Sc. & A.H/ Fisheries or Dairy Science while others insist on a graduation in Agriculture

Step 4
Take MPhil/PhD in Agricultural Economics

This field is a research oriented one and a doctoral qualification in this field is advisable for taking up most careers.

Agricultural Economics Colleges

Name State District Type Website Course

Requirements for masters in agricultural economics

Requirements for admission into a PG course in one of the top institutions to help you get an overall picture

India(M.Sc in Agricultural Economics from Indian Agricultural Research Institute)

  • Bachelor’s Degree in Agriculture / Dairy Science / Veterinary Science / Animal Husbandry / Fisheries.
  • On the basis ICAR entrance Admission.

Foreign (For admission into MSc in Agricultural Economics at the University of Copenhagen , Denmark)

  • A Relevant bachelor's degree (Preferably in Natural Resources with a specialisation in Environmental economics).
  • English Language proficiency : An overall score of 6.5 IELTS Or an overall score of 83 in TOEFL

To see the entrance exams, scholarships and UG admission details, click here

Skills Required

Analytical skills

Analytical skills are very important for agriculture economists. They have to gather a lot of information, data and analyse them in a precise manner with the use of computers and different software.

Accuracy

Agricultural economists need to pay attention to detail as they may undertake many experiments that might require precise observation. They need to be very accurate in analysing as the conclusions and predictions will be based on their analysis.

Judgement and decision making

An agricultural economist must have good judgement and decision making skills. They have to analyse current market situation and predict and plan strategies to meet the market demand.

Team spirit

Teamwork is important for agricultural economists as they may have to work with small and large groups of individuals from their own and other professions such as farmers , engineers and other Government officials.

Industries

  • Checked Agricultural Research Institutes
  • Checked Government Agriculture Departments
  • Checked Banks
  • Checked Insurance Companies
  • Checked Corporate Farms