Programme Overview
To address the demand of agricultural economist, food security, poverty reduction and overall economic growth.
Entry Requirements
To be eligible in the programme, a candidate must normally be a holder of at least a lower second class (2.2) first degree in Agriculture, Agricultural Economics; Economics; or any other related programme from a recognized University.
PROGRAMME STRUCTURE
- The degree programme shall have at least 9 taught modules spread over the two teaching semesters.
Level 1 Semester 1
Code Description Credits
*MAAE 701 Advanced Microeconomic Theory for Agriculture 18
*MAAE 702 Advance Macroeconomics for Agriculture 18
*MAAE 703 Mathematics for Agricultural Economists 18
*MAAE 704 Statistics for Agricultural Economists 18
Level 1 Semester 2
*MAAE 705 Econometrics 18
*MAAE 706 Research Methods 18
*MAAE 707 Production Economics 18
*MAAE 711 Agricultural Trade and Policy 18
Options (Choose Two)
MAAE 708 Environmental and Natural Resources 18
MAAE 710 Agricultural Marketing and Price Analysis 18
MAAE 712 Agribusiness Management 18
MAAE 713 Agricultural Finance and Risk Management 18
MAAE 714 Economics of Climate Change 18
Level 2 Semesters 1 and 2
*MAAE 715 Dissertation 90
Module Synopsis
MAAE 701 Advance Microeconomic Theory for Agriculture
The module provides a review of basic microeconomic concepts, consumer theory: axioms of rationality, utility maximization, income and substitution effects, mathematical derivation using Slutsky’s equation, theory of Revealed Preference, theory of the firm, risk and uncertainty in agriculture, mathematical and calculus approaches to risk analysis, multi-period consumption, consumption efficiency and gains from exchange through markets.
MAAE 702 Advance Macroeconomics for Agriculture
The module focuses on the microeconomic foundations in dynamic macroeconomics, neoclassical growth model, overlapping generations model, real business cycle theory, unemployment, new Keynesians models, monetary policy trade-offs, and their applications using local national datasets.
MAAE 703 Mathematics for Agricultural Economics
The module provides a review of common mathematical notations, number systems, set algebra, functions, equilibrium analysis, matrix algebra, maxima, minima and applications, unconstrained and constrained optimization, and applications to the field of agriculture.
MAAE 704 Statistics for Agricultural Economists
In the module, focus is on the review of basic statistics, parametric inference, maximum likelihood estimation, the method of moments, Hypothesis testing, Bayesian statistics, Principal component analysis, Generalized Linear Models, Forecasting and time series analysis, and use of statistical software (STATA, SPSS, R) for practical data analysis.
MAAE 705 Econometrics
This module provides a review of linear regression models, non-linear models, bootstrapping and Monte Carlo simulation, binary choice models, GMM and M estimators, and applications using statistical software STATA, SPSS and R.
MAAE 706 Research Methods
This module introduces postgraduate students to the basic ideas about conduction research. Students will learn methods for reading technical papers, selecting research topics, devising research questions, planning research, project management and ethics. The evaluation is based on the assignments throughout the course and a final project report and presentation. The module provides students with knowledge, skills and practical experience to develop and manage their research. Conceptualizing and implementing novel research can be an overwhelming task. Students will be made aware of what is involved in getting a project started from conceptualizing the idea, designing the research question, designing the experiments to best answer the questions, ethical research standards and project management.
MAAE 707 Production Economics
The module covers the theory of production economics with emphasis on applications to agriculture and natural resources. Topics include the derivation, estimation and use of production, cost, profit, revenue, demand and supply functions. Discusses the concepts of efficiency and productivity. Production response over time and under risk. Agricultural production economic theory under static and dynamic situations. Analysis of allocation of factors of production, production efficiency, demand for factors of production and supply of agricultural products, costs of products and farm growth.
MAAE 708 Environmental and Natural Resource
This course studies the application of economic analysis to the management of the environmental and natural resources. This module considers the role of economic theory in understanding and solving environmental and resource problems and discuss empirical examinations of the theory. Policy implications will be addressed with particular attention paid to analyzing practical applications of the theories in different social, economic and political environments.
MAAE 709 Agricultural Value Chains Development and Financing
The module will cover the following topics; Why is there interest in value chain finance in agriculture?, Understanding agricultural value chain finance, Value chain business models, Agricultural value chain finance instruments, Innovations, strategy and design recommendations for programmes dealing with agricultural value chains and agricultural value chain finance.
MAAE 710 Agricultural Marketing
The module addresses the following topics pertaining to agriculture; The role of prices; demand analysis (theory), focusing on review of consumer behavior, utility maximization, elasticity, substitution & income effects of price changes, Engel curves. Demand analysis (empirical consideration), demand for a typical farm product, formulating demand equations, demand for agricultural inputs. Supply analysis, supply relation in agriculture, estimating supply functions (direct & indirect approaches). Estimation problems, model specification, using cross-section and time-series data, interpreting estimated parameters, statistical tests, and forecasts.
MAAE 711 Agricultural Trade and Policy
The module covers the following issues; an understanding of why nations trade and the role of supply and demand factors in determining trade; a basis for evaluating international competitiveness and comparative advantage; an appreciation for how agricultural trade is related to growth and development; an ability to evaluate the welfare implications of policies affecting production, consumption, and trade; an understanding of the implications of protectionism, free trade, managed trade, regional trade blocs, and multilateral trade liberalization, and the role for international trade institutions.
MAAE 712 Agribusiness Management
This module introduces students to Micro-economic Concepts and their Application to Business; Business Behaviour in Different Market Structures; Production and Costs; The Firm and Its Environment; Demand Estimation: Regression Analysis; Decision Making Under Uncertainty; Product Pricing; Types of agribusiness ownership, such as Sole Ownership, Partnership, Corporate Structure, etc. Managing the agricultural business, including strategic management, comparative advantage and competitive advantage, value-chain analysis. Business analysis and control – financial Statements, profit and loss statement, financial ratio analysis, and performance and activity analysis.
MAAE 713 Agricultural Finance and Risk Management
MAAE 714 Economics of Climate Change
The module discusses the basic climate change science and the core economic concepts, models and analyses related to emission mitigation and the contemporary discussions and negotiations on a national and international level. A particular focus will be given to recent advances in the research on the valuation of costs and benefits over time under uncertainty.
MAAE 715 Dissertation
This is a scientific report of between 15 000 and 20 000 words, based on supervised research by the student. The dissertation should be presented to a panel of the Departmental Board.