Agriculture has been the back bone of the country for ages but it is accompanied by a huge number of problems with one of them being the low participation of youth in agriculture and its related activities. Agricultural economics is mostly defined as the study of the allocation, distribution, and utilization of the resources used, along with the commodities produced, by farming. Agricultural economics plays a role in the economics of development, for a continuous level of farm surplus is one of the wellsprings of technological and commercial growth. Agricultural Economics provides graduates with a solid core of knowledge. The course is designed to help students apply analytical, business and management skills to a range of activities in the agriculture and natural resource sectors. Agricultural economists all over the world advise the agricultural sector on issues such as financing, marketing, agricultural development, policy, research and production. They use mathematical models to develop programmes that can predict the length and nature of agricultural cycles; they do research, and then review and analyse their research and report on it in clear, concise language comprehensible to people who are not economists.
Agricultural Economics studies the link between Agriculture and the Economy. Agriculture can’t be ruled out in any economy. In Maharashtra and other developing countries, majority of the population engage in small scale/subsistence farming for a living. In order to help these huge number of farmers to achieve salient economic goals, Agricultural Economists comes in with AgriPolicy, Farm management, Agribusiness, Cooperative etc. Price determination is very complex for Agricultural products because of perishability, bulkiness, storage, processing, originality, varieties, quality, and size. In order to make prices of Agricultural products stable and avoid markets filled with higgling and haggling , agricultural economists analyzes the situation at hand and forecasts a price that both producers and consumers can settle for. The bulk of what an Agricultural Economist does involves forecasting and predicting based on calculations. The course is for people who are ready to work but if you’re the type that hates thinking through different fields and scope, you can’t be the real Agricultural Economist. Agricultural Economics is an applied science that requires the use of theories in Economics, mathematics, statistics, history, accounting and management. Agricultural Economists are employable in all levels of the agricultural sector. Also in the financial sector, industries with agricultural needs, insurance companies, Cooperatives, International agencies, Ministries also need agricultural economists.