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Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics.
8 Following institutionalisation of certified organic agriculture in Uganda in 2002, more farmers have adopted organic pineapple farming to boost their economic livelihoods. Assessing the technical efficiency of maize producers with Imazapyr-resistant maize for Striga control in Western Kenya D.
However, farmers have continued to engage in the less profitable conventional market due to organic market’s limited capacity to absorb all their...
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Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber.Because agriculture is a large part of most developing economies, both in terms of employment and share of GDP, agricultural economists have been at the forefront of empirical research on development economics, contributing to our understanding of agriculture's role in economic development, economic growth and structural transformation.Many agricultural economists are interested in the food systems of developing economies, the linkages between agriculture and nutrition, and the ways in which agriculture interact with other domains, such as the natural environment.Much research has applied economic theory to farm-level decisions.Studies of risk and decision-making under uncertainty have real-world applications to crop insurance policies and to understanding how farmers in developing countries make choices about technology adoption.In the field of environmental economics, agricultural economists have contributed in three main areas: designing incentives to control environmental externalities (such as water pollution due to agricultural production), estimating the value of non-market benefits from natural resources and environmental amenities (such as an appealing rural landscape), and the complex interrelationship between economic activities and environmental consequences.With regard to natural resources, agricultural economists have developed quantitative tools for improving land management, preventing erosion, managing pests, protecting biodiversity, and preventing livestock diseases.One scholar summarizes the development of agricultural economics as follows: "Agricultural economics arose in the late 19th century, combined the theory of the firm with marketing and organization theory, and developed throughout the 20th century largely as an empirical branch of general economics.The discipline was closely linked to empirical applications of mathematical statistics and made early and significant contributions to econometric methods.Agricultural economics began as a branch of economics that specifically dealt with land usage, it focused on maximizing the crop yield while maintaining a good soil ecosystem.Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader.