Even where the land was originally fertile, the fertility is likely to have been depleted by decades of continuous cropping. The available manures are not sufficient, and the farmers cannot afford to purchase them elsewhere. Peasant agriculture is often said to be characterized by inertia.
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The peasant farmer is likely to be illiterate, suspicious of outsiders, and reluctant to try new methods; food patterns remain unchanged for decades or even centuries. Evidence, however, suggests that the apparent inertia may be simply the result of a lack of alternatives. If there is nothing better to change to, there is little point in changing.
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Moreover, the self-sufficient farmer is bound to want to minimize risks; since a crop failure can mean starvation in many parts of the world, farmers have been reluctant to adopt new methods if doing so would expose them to greater risks of failure. The increased use worldwide of high-yielding varieties of rice and wheat from the s showed that farmers were willing and able to adopt new crops and farming methods when their superiority was demonstrated.
Those high-yielding varieties, however, required increased outlays for fertilizer, as well as expanded facilities for storage and distribution, and many developing countries were unable to afford such expenditures. As economic development proceeds, a large proportion of the farm labour force must shift from agriculture into other pursuits.
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That fundamental shift in the labour force is made possible, of course, by an enormous increase in output per worker as agriculture becomes modernized. That increase in output stems from various factors. Where land is plentiful, the output per worker is likely to be higher because it is possible to employ more fertilizer and machinery per worker.
Article Media. Info Print Print. Table Of Contents. Submit Feedback. For farmers and ranchers who have borrowed against the equity in their land , a drop in local land values would add further financial stress to their balance sheets.
The Major Challenges Of The Agricultural Sector
Farmers cannot bank on a fourth consecutive year of above-trend crop yields to make up for low commodity prices and rising costs. To steady the agricultural economy, and boost revenues, the sector is dependent on substantive breakthroughs in trade policy. Democrats will require additional labor and environmental enforcement mechanisms to be included in the bill before they will support its passage. Reaching the finish line will require several administrative steps before Congress will debate the merits of the trade deal, so final approval is unlikely to happen before Q2, or perhaps the second half of the year.
We expect some progress to be made by the March deadline, but a substantive deal that is acceptable to both sides will likely require more time. Critical differences related to issues such as IP rights and forced technology transfer remain, and will be difficult to overcome. However, China has reportedly offered to increase its purchases of U.
This type of arrangement would have a measurable impact on U. Without this type of deal, exports to China will remain well below past levels when comes to a close.
The U. The l oss of soybean exports will account for most of the decline. Progress in negotiations is likely to be slow, which spells more pain for months to come. Access to key markets will remain limited and downward price adjustments will persist, both hurting margins and opportunities for U. Finally, it will challenge students to analyze the interaction between the agricultural economy and the natural resource base.
Agricultural Economics: An introduction to contemporary management theories and practices in organizations of the food sector. Agricultural Economics: Managing and financing a farm business. Topics include: the decision making process, farm management and economic concepts, the analysis of financial statements, farm planning and budgeting, input management, investment analysis, risk in financial management, the acquisition and cost of capital. Agricultural Economics: Strategic management of agricultural and food businesses. Analysis of internal and external factors and competitive forces affecting agribusinesses.
Formulation of business strategy and solutions to strategic problems.
Case-based course designed to enhance students' problemsolving and decisionmaking skills. Integration of knowledge and tools from various economics and business disciplines. Agricultural Economics: Students will pursue topics that are not otherwise available in formal courses. An individual course of study will be followed under the supervision of a member of the staff qualified in the appropriate discipline or area.
Review of China's agricultural and rural development: policy changes and current issues
Back to programs list. Can be taken as: Major, Minor. For more information, see Programs, Courses and University Regulations.