Agricultural economics and extensions is a course of study that is concerned with the production, management and consumption of agricultural products from crops to livestock by the use of research and skills in agriculture. Majorly aiding the country’s economy and growth.
COURSE OVERVIEW
Agriculture is one of the necessary sectors that a nation thrives on as it provides a lot of resources and Opportunities for a nation. It enhances a nation’s economy if well managed and exploited. This is the role the Agricultural Economist plays, and as such they are very vital to a nation’s growth. They tackle problems that under developed nations face and provide solutions to improve their trade, consumption, and environmental conditions in the Agricultural sector.
They offer various assistance to Farmers in the form of research and scientific methods, marketing strategies as Extension. They aid the local farmer in achieving optimum yields and results through their research and methods.
The Course overall is very lucrative, and opportunities are ever present because of the importance and daily advancement of the sector. Graduates of this course function Mainly in the Agricultural sector of a nation.
ORIGIN OF AGRICULTURAL ECOMOMICS
The concept of Agricultural Economics began during the 19th century and has grown to be of great importance since then. Thriving and growing from the 20th century to the 21st century. Agricultural economics implements different economical strategies but in the field of agriculture. With the aim to maximize crop yield, Land use and the improvements of other agricultural products.
Henry Charles Taylor is regarded as the father of agricultural economics because of his work and great contributions on land economics around the 20th Century.
IMPORTANCE OF AGRICULTURAL ECONOMICS
Agricultural economics has much importance to every individual in a nation. It is the bedrock of civilization and industrialization. Virtually all industries have a link to the Agricultural sector directly or indirectly and as such also has great economic importance.
- Provision of Food for the nation: Every individual in the nation requires food. Though the percentage of Income spent on food in a family reduces as income goes up. Agriculture and it’s economics helps in the provision of food as others is no other sector that is capable of tackling this problem.
- International Trade and Revenue: A lot of Agricultural products can be traded at the international level. Therefore can be used to generate revenue for the nation.
- Raw materials for industries: As said before in this article, virtually every industry is affiliated with the Agricultural sector directly or indirectly. The raw materials that these industries use are gotten from agriculture products. These agricultural products (Raw Materials) are further processed into finished goods. The price of these products can all be affected by the overall health and management of the Agricultural sector of a nation. Pending on the expenses of the agricultural sector and factors that the sector (from inadequate methods of research to improve agricultural practices to environmental factors like; Soil, Temperature etc.
- Management of Agricultural resources: Agricultural economists also have the task of managing agricultural resources of a nation for consumption and trading for revenue.
- Economic Growth and Development: From every other importance above it’s very easy to understand that The Economic development of a nation can be founded on this course of study (practice). As the economy grows The standard of living definitely would grow. There would be provision of jobs and the reduction of unemployment in a nation.
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RELATED FIELDS OF STUDY TO AGRICULTURAL ECONOMICS
- Animal science
- Agriculture
- Environmental economics
- Agribusiness
- Agriculture Marketing.
JOB OPPORTUNITIES IN AGRICULTURAL ECONOMICS AND EXTENSION
Agricultural Insurance
As an agricultural economist one can work as an agricultural insurance agent. Working with companies or people to make decisions with regards to agriculture. They also provide expertise in Agribusiness.
Import and Export
Jobs can so be found In this area. Marketing agricultural products across/between countries. With various categories found as means of a employment.
Agricultural Development
This is an agricultural economics job that allows for travelling, making it perfect for those who love to explore. Agricultural development officers can work in the UK or elsewhere in the world to increase agricultural activity and output. Employers can be government agencies, private parties, and non-profit organisations, and the job requires making important resource distribution decisions, agricultural plans, and supervision. International opportunities can involve employing best practices and ensuring nations’ access to resources to promote agricultural production and advancement.
Academics
In this area the Agricultural economists would be responsible for sharing knowledge and research. Which could be in universities, colleges or schools.
Consulting
Provision of expertise advise is one of the ways which the agro-economist could easily be employed. Companies and agricultural firms make use of such foresight or knowledge, to make decisions as it relates to their business and investment.
To wrap up this section there are so many areas you could get employment as an Agricultural economist. One of the advantages of this course is it’s flexibility in self employment as many agricultural economists can start up their own business. It could be small scale majoring on just a part of the opportunities present in the field or could be large scale covering a lot of the said opportunities, all depending on the economist.
EARNINGS/SALARY FOR AGRICULTURAL ECONOMICS
There are many factors that play a role in the salary employers are willing to pay the agricultural economists. It would Generally depend on the state and firm of Employment. Though you could find out more from the link below.
Agricultural economist salary in Nigeria. I hope the information you get suffices.
