Course Name	Agricultural Production Economics
Credits	3
Professor(s)	Name	Kim, Yun-shik
	Affiliation	Dept. of Agricultural Economics

COURSE DESCRIPTION

Course Objectives

This course is for the undergraduates in agricultural economics department. The students who are willing to take this course must be accustomed to the mathematical concepts, such as sets, functions, matrix, differentiation, optimization, etc.

The objectives of this course is (i) to get used to mathematical expression in economics, (ii) to apply the theoretical model to agriculture, (iii) to understand how economists express the relationship between inputs and outputs, and (iv) to exercise theoretical problems and apply to the real problems.

MAIN TEXTBOOK and FURTHER READINGS

Debertin, David L. 1986. Agricultural Production Economics. Macmillan Publishing Company.

(김정주 역. 2004. 농업의 생산경제학, 건국대학교 출판부)

John P. Doll and Frank Orazem. 1984. Production Economics: Theory with Applications. John Wiley.

Yair Mundlak. 2001. "Production and Supply." edited by Bruce Gardner & Gordon Rausser in

Handbook of Agricultural Economics. Elsevier.

ASSIGNMENTS AND GRADING

Assignments: 5 times

Grading Scheme: Attendance (10%), Assignments (10%), Mid-term (30%), final (50%)

COURSE SCHEDULE

Course Outline

Week 1: Introduction

Week 2: Production with one variable

Week 3: Profit Maximization with one input and one output

Week 4: Cost, Returns, and Profits on the Output side

Week 5: Production with Two Inputs

Week 6: Maximization in the Two Input Case

Week 7: Maximization subject to Budget Constraints

Week 8: Mid-term

Week 9: Returns to Scale and Homogeneous Production Function

Week 10: Cobb-Douglas Production Technology

Week 11: Other Agricultural Production Functions

Week 12: Elasticity of Substitution

Week 13: Demand for Inputs to the Production Process

Week 14: Time and Agricultural Production Process

Week 15: Final

CONTACT DETAILS

Tel: 055-772-1845  /  e-mail: yunshik@gnu.ac.kr