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| Course Description |
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| Course Name |
: |
Production Economics |
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| Course Code |
: |
TEP304 |
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| Course Type |
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Compulsory |
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| Level of Course |
: |
First Cycle |
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| Year of Study |
: |
3 |
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| Course Semester |
: |
Spring (16 Weeks) |
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| ECTS |
: |
5 |
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| Name of Lecturer(s) |
: |
Asst.Prof.Dr. TUNA ALEMDAR
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| Learning Outcomes of the Course |
: |
is able to construct a set of theorical framework and assumptions in the economic analysis of agricultural production
is able to build functions for production, cost, income and profit
is able to use mathematical tools in the economic analysis of agricultural production and interpret the results of the analysis
comprehends properties of major production functions used in economic analysis regarding agricultural production
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| Mode of Delivery |
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Face-to-Face |
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| Prerequisites and Co-Prerequisites |
: |
None |
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| Recommended Optional Programme Components |
: |
None |
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| Aim(s) of Course |
: |
To teach students to use verbal, graphical and mathematical tools in static analysis of problems related to agriculture and natural resources; to interpret of the results of analysis; to explain the properties of major mathematical functions utilized in agricultural production economics; to apply principles of production economics to the problems encountered in agricultural production. |
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| Course Contents |
: |
Goals of production economics; theory and assumptions of agricultural production economics (perfect certainty, static analysis, constant technology, profit maximization and rational behavior, input and output homogeneity, divisibility); production and cost functions; returns in agricultural production (diminishing marginal returns, total, average and marginal product calculations); analyses in production economics: factor-product analysis (necessary and sufficient conditions, determining optimal level of input use, input demand and product supply in farms); factor-factor analysis (importance and analysis of relations between resources, determining least cost input combination, isoquants and marginal rate of substitution); product-product analyses (production possibilities curve; relations between agricultural products) |
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| Language of Instruction |
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Turkish |
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| Work Place |
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Classroom |
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Course Outline /Schedule (Weekly) Planned Learning Activities |
| Week | Subject | Student's Preliminary Work | Learning Activities and Teaching Methods |
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1 |
Production economics; general introduction; major analysis |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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2 |
Concept of function, production functions, maximization, minimization |
Lecture notes and recommended resources for the relevant sections |
Lecture |
|
3 |
Main measures of productivity (total, average and marginal product) and their interrelations |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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4 |
Finding optimal input and output levels (mathematical analysis) |
Lecture notes and recommended resources for the relevant sections |
Lecture |
|
5 |
Costs and cost functions (profit maximization, cost minimization) |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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6 |
Substitution relations between inputs and factor-factor analysis |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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7 |
Finding least cost input combination (mathematical analysis) |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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8 |
Derivative demand, supply function of the farm |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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9 |
Extension path, substitution and expansion effects |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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10 |
MIDTERM EXAM |
Lecture notes and recommended resources for the relevant sections |
written exam |
|
11 |
Main agricultural production functions and their properties |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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12 |
Relations between agricultural products and product-product analysis |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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13 |
Finding optimal product combination (mathematical analysis) |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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14 |
Finding optimal product combination (mathematical analysis) |
Lecture notes and recommended resources for the relevant sections |
Lecture |
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15 |
General Review |
All lecture notes and resources |
Lecture |
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16/17 |
Final Exam |
All lecture notes and resources |
Exam |
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Required Course Resources |
| Resource Type | Resource Name |
| Recommended Course Material(s) |
 Course notes and slides prepared and regularly updated by the instructor
Tarımsal Üretim Ekonomisi, Prof. Dr. Şinasi Akdemir ve Yardımcı Doç. Dr. Tuna Alemdar, Adana, 2003 (in Turkish)
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| |
| Required Course Material(s) |
Teorik ve Uygulamalı Üretim Ekonomisi, John. P. Doll, Frank Orazem, Seçkin Yayıncılık A.Ş. Ankara, 2005 (in Turkish)
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Assessment Methods and Assessment Criteria |
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Semester/Year Assessments |
Number |
Contribution Percentage |
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Mid-term Exams (Written, Oral, etc.) |
1 |
60 |
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Homeworks/Projects/Others |
0 |
40 |
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Total |
100 |
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Rate of Semester/Year Assessments to Success |
40 |
| |
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Final Assessments
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100 |
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Rate of Final Assessments to Success
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60 |
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Total |
100 |
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| Contribution of the Course to Key Learning Outcomes |
| # | Key Learning Outcome | Contribution* |
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1 |
is be able to explain and apply basic theories related to major science and engineering courses in order to form a foundation which enables him/her to understand advanced level subjects related to his/her profession |
3 |
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2 |
is able to describe, intorduce and evaluate crop and animal production techniques, tools and equipment used in this area and explain role, importance and development of agriculture in national and world economy |
0 |
|
3 |
is able to describe characteristics and interrelations of all stages from production to consumption in agricultural sector; is able to describe basic concepts related to efficienct and sustianable use of resources; is able to explain and apply basic economic principles used for this purpose |
3 |
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4 |
is able to explain concepts, thought, theory and methods related to major economic, social, natural, cultural, institutional, organizational and legal factors affecting activities in agricultural sector and rural areas, also national and international forces and interaction between them, their universal and social effects |
5 |
|
5 |
is able to apply basic principles of economics to the problemes encountered in agricultural sector |
3 |
|
6 |
is able to show and express economic and social data to be used in agricultural decision making process in tables, graphs and mathematical symbols |
5 |
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7 |
is able to apply ecosystem, biodiversity, sustainable resource management, rural development, planning and technology use related knowledge to crop and animal production and marketing processes |
0 |
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8 |
determines required data related to the analysis of problems encountered in agricultural sector, critically examines and uses those data, selects a proper frame, model and method for the analysis, and evaluates results of the analysis |
0 |
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9 |
uses basic information technologies in the analysis of economic and social data and uses software prepared for this purpose and interpretes results |
0 |
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10 |
is able to carry studies related to his/her field independently and according to the legal procedures; is able to give consultancy, supervising, and expertise services in those fields; is able to join to team works |
0 |
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11 |
is able to get access to actual and updated information in the field; is able to inquire knowledge obtained and use them for public benefit according to the purpose selected |
0 |
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12 |
is able to communicate with sepacialist and non-specialist people both in verbal and written form; is able to select most appropriate communications methods; is able to develop cooperation with stakeholders on producer and organization basis |
0 |
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13 |
acquires general and professional foreign language command at a sufficient level to observe professional developments and communicate with colleagues;is able to use information and communication technologies |
0 |
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14 |
is able to identify problems that can be encountered in agricultural sector; determines their context, evaluates effects of solutions, projects and policies applied in this context, produces solutions, projects and policy alternatives, foresees possible effects of alternatives suggested by himself/herself or others, selects the most appropriate alternative in terms of the goals selected, applies, direcs and monitors project |
0 |
|
15 |
is able to describe historical development of the profession, ethical principles obligatory during the performance of the profession and to be consicous of meticulous application of these principles |
0 |
| * Contribution levels are between 0 (not) and 5 (maximum). |
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| Student Workload - ECTS |
| Works | Number | Time (Hour) | Total Workload (Hour) |
| Course Related Works |
|
Class Time (Exam weeks are excluded) |
14 |
4 |
56 |
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Out of Class Study (Preliminary Work, Practice) |
14 |
4 |
56 |
| Assesment Related Works |
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Homeworks, Projects, Others |
0 |
0 |
0 |
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Mid-term Exams (Written, Oral, etc.) |
1 |
6 |
6 |
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Final Exam |
1 |
6 |
6 |
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Total Workload: | 124 |
| Total Workload / 25 (h): | 4.96 |
| ECTS Credit: | 5 |
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