Agricultural Economics Is Far More Than Just Farming
The profession of Agricultural Economics was born out of the attempts of early pioneers in the United States to address two fundamental questions, namely (1) “What is the (reciprocal) relationship between the agricultural sector and the rest of the economy?” and (2) “How can farms be managed more efficiently?”
Agriculture is the biggest source of production and employment in rural areas, and it is the key to a successful economy. Agricultural Economics focusses on the management of these processes at farm, provincial, national and international level. It incorporates the study of natural resources, agribusiness, the processing and marketing of agricultural products as well as the analysis of a range of macro-economic factors from politics to institutions to economic policy.