Postgraduate School
Department of Agricultural Economics & Farm Management
Master of Science in Agricultural Economics
M. Sc. in Agricultural Economics
| Name | Status and Qualification | Research Interests |
| A. Falola | Senior Lecturer & Ag. Head of DepartmentB.Agric., M.Sc., Ph.D. (Ilorin) | Production Economics and Welfare Economics |
| O. A. Omotesho | Professor B.Sc., M.Sc., Ph.D. (Ibadan) | Resource Economics and FarmManagement |
| M. O. Adewumi | Professor B.Sc., M.Sc., Ph.D. (Ilorin) | Agricultural Production, FarmManagement and Management Sciences |
| A. Muhammad-Lawal | Professor B.Agric., M.Sc., Ph.D. (Ilorin) | Production Economics and FarmManagement |
| R. O. Babatunde | Professor B.Agric., M.Sc. (Ilorin); Ph.D. (Stuttgart) | Development Economics, WelfareEconomics, Food and Nutrition Economics, Impact Assessment |
| Opeyemi E. Ayinde | Professor B.Agric., M.Sc., Ph.D. (Ilorin) | Gender Studies, Behavioural andInnovation Economics, Price Analysis |
| S. O. Akanbi | Senior Lecturer B.Agric., MBA, M.Sc., Ph.D.(Ilorin) | Agricultural Production, Development Economics,Agribusiness Management |
| K. B. Amolegbe | Senior Lecturer B.Agric., M.Sc., Ph.D. (Ilorin) | Food security, Value Chain Analysis, Poverty and Inequality, Agricultural DevelopmentEconomics |
| J. O. Animashaun | Lecturer I B.Agric., M.Sc. (Ilorin); Ph.D. (Manchester) | Micro-econometrics, Political and Natural Resource Economics,Evaluation of Agricultural Policies |
| Mercy F. Salami | Lecturer I B.Agric., M.Sc., Ph.D. (Ilorin) | Agricultural Production Economics,Development Economics |
| I. L. Olaghere | Lecturer I B.Agric. (Benin); M.Sc., Ph.D. (Ilorin) | Farm Management, Production Economics, Agribusiness, ClimateChange |
| T. B. Ajibade | Lecturer I B.Agric, M.Sc., Ph.D. (Ilorin) | Agricultural Trade, Markets, andIndustrial Organization |
| G. O. Akinsola | Lecturer I B.Agric., M.Sc., Ph.D. (Ilorin) | Development Economics, Genderissues, Agricultural innovations |
| H. K. Ibrahim | Lecturer I B.Agric., M.Sc. (Ilorin) | Resource economics, food securityand nutrition |
| Kafayat Y. Belewu | Lecturer II B.Agric. (Ilorin); M.Sc. (Ibadan); Ph.D. (LAUTECH, Ogbomosho) | Production Economics, Agricultural Finance |
| *O. Job | Senior Lecturer B. Sc., M.Sc., Ph.D. (Ilori) | Mathematical Statistics,Econometrics |
| *A. A. Abiodun | Reader B. Sc., M.Sc., Ph.D. (Ilorin) | Survival analysis and modelling |
* Lecturers from other departments
B. Introduction
This programme is meant for candidates who want to make progress academically even to the Ph.D. level. It is meant to update their academic status such that they become readymade material to pursue a Ph.D. programme.
C. Philosophy
The philosophy is the development of high-level manpower equipped with skills and training to solve the food security problem in Nigeria and pursue careers in academics and research.
D. Aim and Objectives
Objectives:
E. Admission Requirements
Candidates seeking admission into the programme must have the following qualifications from recognized institutions
F. Duration of the Programme
G. Detailed Course Description
AEF 801 Microeconomic Theory 3 Credits
Theory of consumer behaviour. Theory of the firm. Perfect and Imperfect Competition. Market equilibrium, Efficiency and Market Failure. Partial equilibrium analysis for outputs, inputs and prices in market and centralised economies. Welfare Analysis of Market Structures. 45h (T); C
AEF 802 Seminar 2 Credits
Each student should present a seminar on a topic approved by the department. 90h (P); C
AEF 803 Macroeconomic Theory 3 Credits
National Income determination. Consumption demand. Demand for money. Investment demand. Classical price-level determination. Keynesian employment- level determination. Classical and Neoclassical theories. Monetarists‘ view of income and employment. Wage-price dynamics. Growth theories. Macro-theory of distribution. Disaggregated general equilibrium system and welfare theory.45h (T); C
AEF 804 Computer and Statistical Packages Applications in Agriculture 3 Credits
Introduction to Computer Application in Agricultural Economics. Word and Excel Applications. Word Applications. Data entry and Equation Editing with Word. Data Presentation using PowerPoint. Introduction to Stata Statistical package. Inputting data. Manipulating dataset using Stata. Stata Command syntax and operators. Do- files and log Files. Some useful commands. Data management and graphics. Graphical Display of Data.30h (T); 45h (P); C
AEF 805 Statistical Theory and Sampling Technique 3 Credits
Markov chains. Probability functions and probability laws. Expectation of functions. Random variables independent and joint distributions and their expectations. Principle of sampling theory and applications. Weak Laws of Large Numbers. Central limit theory. Data from natural Experiments. Data from Social Experiments. 30h (T); 45h (P); C
AEF 806 Agricultural Marketing 3 Credits
Agricultural marketing theory, concepts and models. Marketing institutions, Market structure, conduct and performance. Cost, prices, margins, economies of scale and efficiency appraisal. Consumer economics and demand analysis. Interregional trade. Market improvement planning and programmes. Case studies.45h (T); E
AEF 807 Introduction to Quantitative Research Techniques 3 Credits
Steps in the research process and their application. Delineation of research problems and development of research objectives. Research designs in social sciences. Data generation with emphasis on field surveys. Analyzing data and reporting results.30h (T); 45h (P); C
AEF 808 Agricultural Finance 3 Credits
Farm financial management. Appraisal and valuation. Farm records. Standards for analyzing farm business. Balance sheet and income statements, budgeting and marginal analysis. Nature of capital and credit in farm business. 30h (T); 45h (P); E
AEF 809 Rural Development 3 Credits
Structural transformation and Rural Development. Theoretical Perspectives on Rural Development. Strategies and models of rural development with emphasis on the process of social, economic and political integration of rural problems and social development of rural areas. Analysis of rural development programmes in Nigeria. 45h (T); E
AEF 810 Agricultural Production Economics 3 Credits
Production theories. Agricultural production functions and optimal resource allocation. Agricultural cost and supply functions. Linear programming application in Agriculture; Recursive programming. Returns to scale. Time factor, factor rewards and resource allocation. Decision-making under imperfect knowledge. Efficiency and innovation in agriculture. 30h (T); 45h (P); E
AEF 811 Farm Management 3 Credits
Economic principles and techniques of crop and livestock management. Determination and management of farm resources. Management of large- and small- scale farms. Risk and uncertainty. Insurance. Farm business analysis. Farm records and accounts. Linear programming. 30h (T); 45h (P); E
AEF 812 Natural Resource Economics 3 Credits
Basic concepts and introduction: Externalities and Resource Exploitation. Marginal Social and Private Costs and Benefits Analysis. Economics of Non-Renewable Resources. Economics of Renewable Resources. Common Pool Resources: Tragedy of the Common. Institutional Considerations in Resource Management. Property and Ownership Rights. Case Studies: Petroleum exploration and Oil Spillage. Over- grazing and Deforestation. Logging, Overfishing. Sustainability. 45h (T); E
AEF 813 Project Appraisal and Planning 3 Credits
Scope of agricultural programmes and projects. Project appraisal. Relationship between appraisal and planning. Tools of project analysis. Issues in agricultural project appraisal. Planning agricultural development. Steps in planning agricultural development. Implementation of an agricultural development plan. Policy evaluation. Case studies. 30h (T); 45h (P); E
AEF 814 Agribusiness Management 3 Credits
Theory of the firm with respect to agricultural business. Production planning and scheduling. Economics of agricultural processing. Market analysis. Distribution channels and distribution techniques. Transportation problems. Product promotion and presentation. Organisation patterns and criteria for organizational effectiveness. Case studies.30h (T); 45h (P); E
AEF 815 Applied Mathematical Economics 3 Credits
Sets and functions. Algebraic Expressions. Types of Algebraic Relationships. Solving Quadratic Algebraic Equations. Indices. Logarithms. Mathematical Functions. Graphical Representation of Functions. Linear Functions. Coordinate Geometry. Calculus. Differential and Integral Calculus. Applications: Marginal Concepts in Economics, Profitability, and Elasticity. Matrices. Matrix Definitions. Transposition. Matrix Equality, Addition and Subtraction. Multiplication of Matrices. 30h (T); 45h (P); E
AEF 816 Agricultural Developments and Policy 3 Credits Barriers to change. Role of agriculture in the world economy. Systems of traditional Agriculture. Models of agricultural development. Constraints to development. Approaches to development. Agricultural planning. Agricultural policy. internal and external agencies. Comparative agricultural development. Nigerian case studies. 30h (T); 45h (P); E
AEF 818 Operations Research 3 Credits Inventory models, products storage and other models, queuing theory. Replacement, production-smoothing and competitive budgeting and resource use models-allocative models, linear programming, transportation and assignment. Programming models. Linear, dynamic, parametric, integer input-output: inter-industry, analysis. Simulation and systems analysis.30h (T); 45h (P); E
AEF 820 Advanced Econometrics I 3 Credits
Basic concepts of statistical inference. Linear regression and correlation. Single equation problems. Formulation and estimation of special models. Observational Data. Experimental Data. Sampling. Population. Linear regression basics. Cross Section Analysis. Time-series Data. Panel Data. Longitudinal Data Analysis. 30h (T);, 45h (P); E
AEF 839 Dissertation 10 Credits
Each student should submit a dissertation on a topic approved by the department. 270h (P);,C
H. Graduation Requirements
The programme consists of coursework, a dissertation and seminars on special topics. To be awarded the Master of Science degree in Agricultural Economics, a student must have fulfilled the following conditions:
i. Passed a minimum of 39 Credits as follows:
Core Courses 15 Credits
Elective Courses 12 Credits
Seminar 2 Credits
Total = 39 Credits
ii. Carried out research relevant to the area of specialisation and submitted an acceptable dissertation.
I. Summary
i. Farm Management and Production Economics option:
Core Courses: AEF 801 (3), 802 (2), 803 (3), 804 (3), 805 (3), 807 (3), 839 (10) 27 Credits.
Elective Courses: AEF 809 (3), 810 (3), 811 (3), 812 (3), 814 (3), 815 (3),AEF 818 (3), 820 (3) 12 Credits. Total 39 Credits
ii. Agricultural Development and Policy option:
Core Courses: AEF 801 (3), 802 (2), 803 (3), 804 (3), 805 (3), 807 (3), 839 (10) 27 Credits
Elective Courses: AEF 809 (3), 812 (3), 813 (3), 814 (3), 815 (3), 816 (3), 818 (3), AEF 820 (3) 12 Credits
Total = 39 Credits
iii. Agricultural Marketing option:
Core Courses: AEF 801 (3), 802 (2), 803 (3), 804 (3), 805 (3), 807 (3), 839 (10) 27 Credits
Elective Courses: AEF 806 (3), 808 (3), 809 (3), 812 (3), 814 (3), 815 (3), AEF 818 (3), 820 (3) 12 Credits
Total = 39 Credits
iv. Agricultural Finance option:
Core Courses: AEF 801(3), 802 (2), 803 (3), 804 (3), 805 (3), 807 (3), 839 (10) 27 Credits
Elective Courses: AEF 808 (3), 809 (3), 812 (3), 813 (3), 814 (3), 815 (3),AEF 818(3), 820(3) 12 Credits
Total = 39 Credits
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