UNIQUE SERIES AKTU Syllabus
BMBAB404

Farm Business Management

L-T-P3-0-0 Credits3 Session2025-26 TypeTheory
Appears in 1 semester

MBA Agribusiness Management · Sem 4 (Core)

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Syllabus

5 units · 40 lecture hours
Unit1

Unit 1: Introduction to Farm Business Management

5 hrs

Nature, scope, and characteristics of farm business management; Role and functions of farm business management in agribusiness; Types of farm management decisions and their significance; Identification and analysis of farm management problems

Unit2

Unit 2: Principles of Farm Management Decisions

10 hrs

Principle of variable proportion in resource allocation; Cost principles in farm decision making; Principle of factor substitution; Law of equi-marginal returns and its applications; Opportunity cost principle and its relevance; Other relevant decision-making principles in farm management

Unit3

Unit 3: Tools of Farm Management and Business Analysis

9 hrs

Farm planning: concepts and process; Farm budgeting: types (partial, complete), steps, and sample budgets; Farm records and accounts: types, significance, common problems; Preparation and interpretation of net worth statements; Farm efficiency measures: productivity and profitability analysis

Unit4

Unit 4: Management of Farm Resources

8 hrs

Land resource management: land use efficiency, optimal allocation; Management of agricultural labor: deployment, wages, and productivity; Farm machinery management: selection, investment, and operations; Farm buildings and infrastructure: planning and maintenance

Unit5

Unit 5: Risk and Uncertainty in Farming

8 hrs

Sources and types of risk and uncertainty in farm business; Risk management strategies: diversification, insurance, hedging, etc.; Decision-making under risk and uncertainty: approaches and models; Practical cases illustrating risk, uncertainty, and risk mitigation in farm business management

Course Outcomes (COs)5 outcomes

After completion of the course student will be able to:

  1. CO1Describe the nature, scope, and decision areas in farm business management. K2-Understand
  2. CO2Apply economic principles such as equi-marginal returns and opportunity cost in solving farm-level problems. K3- Apply
  3. CO3Develop and interpret farm plans, budgets, and net worth statements for business decision-making. K5-Evaluate
  4. CO4Evaluate and improve the use of land, labour, and capital resources in farm operations. K5-Evaluate
  5. CO5Formulate strategies to manage risks and uncertainties in farm enterprises using practical tools. K6-Create

Suggested Readings

  1. Heady, E.O. & Jensen, H. (1960). Farm Management Economics. Prentice Hall.
  2. Johl, S.S. & Kapoor, T.R. (1973). Fundamentals of Farm Business Management. Kalyani Publishers.
  3. Kahlon, A.S. & Singh, K. (1992). Economics of Farm Management in India. Allied Publishers.
  4. Panda, S.C. (2007). Farm Management & Agricultural Marketing. Kalyani Publishers.
  5. Sankhayan, P. L. (1988). Introduction to the economics of agricultural production. New Delhi: Prentice-Hall of India.
  6. Subba Reddy, S., Raghu Ram, P., Sastry, T. V. N., & Bhavani Devi, I. (2022). Agricultural economics. New Delhi: Oxford & IBH Publishing Co. Pvt. Ltd.
  7. Acharya, S. S., & Agarwal, N. L. (2012). Agricultural marketing in India (5th ed.). New Delhi: Oxford & IBH Publishing Co. Pvt. Ltd.

Official AKTU syllabus

This subject is on page 27, 28 of the original AKTU PDF.

Official AKTU syllabus PDF ↗