Agricultural economics is the application of the principles of economics used for the production of livestock and crops. This discipline is known as agronomics. The agronomics is a branch of economics which deals especially with the land usage. It focuses to maximize the yield of crops by maintaining the good soil ecosystem. This discipline extended in 20th century and today its scope has much broader. Today, this economics includes many applied areas which are overlapping with the conventional economics.
This was actually arose in late 19th century and developed during 20th century widely as an experiential branch of general economics. This was closely related with the empirical applications of statistics and mathematical calculations. This also made the early and important contributions to the econometric methods. After 1960, OECD countries concentrated on the agricultural sectors. Agricultural economists tried to work towards the development problems of deprived counties.
Today this discipline is being taken by many students not only for making their careers but also doing something creative. This is being pursued by many undergraduate students as its scope is broad. This economics is used not only for the development of poor countries but it is also suitable for the developing countries. For many students, the decision of pursuing agricultural economics for their graduate degree can be ever difficult.
If you want to pursue agricultural economics then you must evaluate the many alternatives like size and composition of graduate program. You should also check University, department, financial assistance, options for specialty and the location. Most universities and colleges offer brochures, fact sheet and other important information about the agricultural economics undergraduate programs and degree options. But this is disappointing fact that many universities provide very limited information in comparing and contrasting the available alternatives to assist the prospective students.
The graduation programs for agricultural economics are relatively uncompetitive and increase the non financial benefits to increase the desirability of the students in this program. Many universities offer post graduate programs along with several research and fellowship programs. Some top universities offer Ph.D. for the masters in agricultural economics. They can not only research on their topics but also can get the fellowships to accomplish their researches. Some colleges offer stipends the students who pursue this course for any of the program to promote agricultural economics.