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Master’s degree in Agricultural Economics/ Dairy Economics / Veterinary Economics/ Fisheries Economics / Economics with specialization in Agriculture

Exam Pattern

"Two separate competitive written  examinations (Computer Based Test + Written) followed by Viva-voce shall be conducted as per the following plan of examinations:-
Examination               Max. Marks  Duration
Preliminary-ARS         150              2 hours (Objective Type)
ARS – Main                   240             3 hours  (Descriptive Type)
Viva-voce                        60              1/3 marks will be deducted for each wrong answer in ARS-2021 (Preliminary)
Examination (Objective Type). There will be no rounding off of fractions of marks. This is a qualifying examination and marks scored will not be counted for final selection.                                               ARS-2021 (Mains) Examination Paper will have only one paper of 240 marks in the respective disciplines, to be attempted in 3 hours duration. The paper shall be divided in three parts A, B and C. Part ‘A’ will consist of 40 (forty) questions of 2 (two) marks each. In this 30 part, answers required will be of very short, not exceeding 10 (Ten) words at the most. Part ‘B’ will have 20 (twenty) questions of 5 (five) marks each requiring one or two paragraphs and/or graphic explanation. Part ‘C’ will have 6 (six) essay type or descriptive type questions. Each question will carry 10 (ten) marks and may have two or more parts. Answers are required to be written in the space provided below the question. In no case extra sheets will be provided. All questions in parts ‘A’ ‘B’ and ‘C’ will be compulsory. "


Unit 1: Economic Theory

Nature and tools of economic analysis; theory of consumer behavior; production theory; costs theory; theory of firm; price determination under different markets, price discrimination, effect of taxation under different market conditions; welfare economics; market failure; nature of macroeconomic analysis; national income; consumption; saving and investment, employment, theory of business cycle, functions and demand for money; inflation; income and interest determination; IS-LM functions; general equilibrium analysis; monetary and fiscal policies, economic reforms.

Unit 2: Agricultural Development and Policy

Role of agriculture in economic development, economic growth and development; present development challenges, theories of development; role of economic, technological, social, political and environmental factors; Green GNP, nature, sources and impact of technological change; agricultural development in Asia; poverty, inequality and development; growth models - Harrod-Domar, Neo-Classical, Rostow’s growth stages, Lewis-fei-Ranis model, induced innovation model, five-year plans and agriculture, land reforms; theory of share tenancy; institutions and development; agricultural growth analysis-determinants of agricultural growth and their measurements; features of planning in capitalists, socialist and mixed economics; role of infrastructure and technological change; agricultural policy analysis and reforms - input and output price policy, rural and irrigation infrastructure; credit policy etc; policies and programmes for development of agro-industry, dairy and fisheries; policy options for sustainable agriculture development, measurement of poverty and poverty alleviation programmes.

Unit 3: Natural Resource and Production Economics

Characteristics and classification of natural resources, sustainability issues in natural resource, property rights, externalities, transaction costs ,need for collective action, role of economics in natural resources accounting, planning, management and policy formulation; social welfare function; allocation of renewable and non- renewable resources (forests, fisheries, minerals water, land etc.) under various market structure; valuation of non-market resources; government programmes for conservation and development of natural resources; climate changes, mitigation and policies, environmental regulations basic principles of farm management¬marginal returns, opportunity cost, input-output, output-output and input-input relationships; time comparison and comparative advantage, cost principles, farm efficiency measures and financial analysis, farm planning and budgeting, farm records, measurement and management of risk and uncertainty in agriculture; diversification and insurance in agriculture and allied sectors; forms and applications of production functions - linear, quadratic, square root, spillman, cubic, semi-log, Cobb-Douglas, constant elasticity of substitution (CES), variable elasticity of substitution (VES), etc; dualities between production, cost and profit functions; derivation of supply and factor demand functions from production and profit functions, optimization of resource allocation, resource-use efficiency and returns to scale, frontier production function; total factor productivity, decision making under risk and uncertainties.

Unit 4: Agricultural Finance and Project Management

Importance of agricultural finance, objective, functions and principles of agricultural finance, sources of capital acquisition; rural credit structure-demand, supply, credit¬gap; classification of agricultural credit - sources and forms; cost of credit/ capital; credit appraisal-3Rs, 3 Cs and 7Ps of credit, estimation of credit requirement; supervisory credit system, reforms in agricultural credit policy; financial system in India-commercial banks, cooperatives. RRBs, micro-finance institutions (MFIs) global financial institutions; innovations in agricultural financing-microfinance, Kisan credit cards; e-banking, credit inclusion, definition and characteristics of projects; need for project approach for agricultural development; SWOT analysis and project identification, project life cycle, project feasibility-market technical, financial and economic feasibility, social cost-benefit analysis; project risk analysis; project scheduling and resource allocation; financial and economic appraisal/measures , choice of discount rate, - net present value (NPV), internal rate of return (IIR), benefit-cost ratio (BCR); network analysis - PERT & CPM; fundamental of accounting and book-keeping; analysis of financial statements-balance sheet, income statement cash flow statement.

Unit 5: Agricultural Marketing and Price Analysis

Concepts of agricultural marketing; marketing functions-processing, transportation, storage and ware housing; channels of marketing agricultural produce-price spread and efficiency, structure, conduct and performance analysis; market integration; marketing institutions-role and functions; government interventions including administrated price policy; regulated markets, marker segmentation, supply chain and value chain analysis in agril. commodities, buffer stock operations, price stabilization measures and policies etc. price forecasting for crop area allocation, marketing of agricultural inputs, role of private sector in input and output marketing; forward trading and futures market e-NAM, commodity boards and contract farming; marketed surplus models; competitive and comparative advantage in trade, trade policies, models and agreements; regulations and reforms for marketing and trade, WTO, SPS measures and competitiveness; ecological concerns and marketing ethics.

Unit 6: Operations Research and Research Methods

Objective, types and process of research; role and uses of quantitative technique in business decision making; sampling techniques and sample size determination; sampling and non-sampling errors; index numbers, hypothesis testing. ANOVA, factor analysis, cluster analysis; measures of central tendency, measures of variation, skewness and kurtosis; correlation and regression, discriminant and dummy variable analysis; OLS, MLE estimation-assumptions and their violations, properties, simultaneous equations systems: identification and estimation; Linear programming; objective, assumptions, formulation of linear programming problem, simplex method; primal and dual LP problems, role of business decision making models.

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