Iğdır University Lifelong Learning Programme

Description of Individual Course Units

Course Unit Code	Course Unit Title	Type of Course Unit	Year of Study	Semester	Number of ECTS Credits
0701406105	PRODUCTION ECONOMICS	Compulsory	3	6	5

Level of Course Unit

First Cycle

Objectives of the Course

The aim of this course is to introduce the input-output relations using the principles of microeconomics in the animal and plant production process in agricultural enterprises, to give information about the methods and approaches to ensure the maximization of profit by taking the resources allocated to the production, and also to provide the ways of achieving the targeted production objectives with minimum resource utilization. and to teach the principles and principles.

Name of Lecturer(s)

Learning Outcomes

1	Will be able to demonstrate the input-output relations by using the principles of microeconomics in the animal and plant production process in agricultural enterprises,
2	be informed about the methods and approaches to ensure the maximization of profit by taking the resources allocated to production,
3	learn the ways of achieving the targeted production objectives with minimum resource utilization, and the ways and principles of increasing the efficiency of production.
4
5

Mode of Delivery

Daytime Class

Prerequisites and co-requisities

None

Recommended Optional Programme Components

None

Course Contents

Weekly Detailed Course Contents

Week	Theoretical	Practice	Laboratory
1	Introduction to Animal and Plant Production Economics, Classification of Economy and Approaches
2	Objectives of Agricultural Production Economy, Production Theory, Classical Production Function
3	Exact Competition Market
4	Average physical output, marginal physical product, concepts of real marginal product, decreasing yield law and 3 phases of production
5	Production Elasticity
6	Production Cost
7	Allocation of Single Variable Input
8	Midterm exam
9	Profit Maximization by Marginal Analysis (With the help of Average Income Curves and Average Cost Curves)
10	Production with Two or More Variable Inputs
11	Producing two or More Products
12	Scale Relationships and Business Size, Proportional Relations and Production Size
13	Elasticities for Scale Yield Relationships
14	Business Size and Cost Economies, Internal and External Economies
15	Product diversification, diversification of the Reasons and Benefits, Income Diversification Effect, Applications of diversification in Turkey
16

Recommended or Required Reading

• J.P.Doll, F.Orazem, “Production Economics, Theory with Applications”, John Wiley and Sons. • E.O.Heady “Economics of Agricultural Production and Resourse Use” • Erkuş vd. “Tarım Ekonomisi” A.Ü. Ziraat Fakültesi Yayını, Ankara. • Cramer, Sensan “Agricultural Economics and Agribusiness” • Heady, Dillon “Agricultural Prouduction Functions” • Osburn, D.D.K.C. Schneeberger, “Modern Management

Planned Learning Activities and Teaching Methods

Assessment Methods and Criteria

Term (or Year) Learning Activities	Quantity	Weight
Midterm Examination	1	100
SUM		100
End Of Term (or Year) Learning Activities	Quantity	Weight
Final Examination	1	100
SUM		100
Term (or Year) Learning Activities		40
End Of Term (or Year) Learning Activities		60
SUM		100

Language of Instruction

Turkish

Work Placement(s)

None

Workload Calculation

Activities	Number	Time (hours)	Total Work Load (hours)
Midterm Examination	1	1	1
Final Examination	1	2	2
Attending Lectures	14	2	28
Self Study	14	6	84
Individual Study for Mid term Examination	1	10	10
Individual Study for Final Examination	1	25	25
TOTAL WORKLOAD (hours)			150

Contribution of Learning Outcomes to Programme Outcomes

	PO 1	PO 2	PO 3	PO 4	PO 5	PO 6	PO 7	PO 8	PO 9	PO 10	PO 11	PO 12	PO 13	PO 14	PO 15	PO 16	PO 17	PO 18
LO1	3									3		5		4	5	4		3
LO2					5		4		4	4	3	4		4		4	4
LO3	3	1	3	4		4		4		4	3		4		4		5	4
LO4
LO5

* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High