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  • Agricultural Economics
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  • Explain Agricultural Economics and Apply Economic Modeling to Agricultural Sector
  • Categorize the special characteristics of the agricultural sector and explain how the share of the agricultural sector in the national income changes throughout the stages of economic development
  • Compare normative and positive approaches used in agricultural modeling and identify fundamental forms of economic modeling used in agriculture
  • Explain The Theory of Consumer Demand and Market Demand
  • Name how the utility for a consumer is determined and how the consumer equilibrium is provided.
  • Define how market demand is determined and list different types of demand functions.
  • Demonstrate how the demand for food products is determined within the framework of the demand elasticities and universal principles of the agricultural sector.
  • Summarise the economic factors that cause changes in food demand.
  • Explain the Production and Resource Use
  • Explain production decisions of the farmer in the short-run.
  • Explain optimal output decision of the farmer when input substitution is possible.
  • Explain optimal output decision of the farmer when the farm produces more than one output.
  • Analyze how agricultural supply function differs from supply function of the firms in other industries.
  • Find how agricultural supply response becomes asymmetric.
  • Explain Market Equilibrium and Product Price for Different Market Structures
  • Explain agricultural product market equilibrium under perfect competition for different term structures
  • Explain Cournot, Bertrand and Stackelberg models of oligopoly, identify differences between these three models
  • Define differentiated products, explain monopolistic competition equilibrium in the short run and long run.
  • Define monopsony and related terms, recognize examples of monopsony in agricultural product markets
  • Explain Government Intervention in Agriculture
  • Explain the reasoning behind the intervention policies in agriculture.
  • Summarize the factors affecting the development of agricultural policy implementations.
  • Define the agricultural support policies and their types in Türkiye and their effectiveness.
  • Explain Macroeconomics of Agriculture
  • Define the basic concepts of macroeconomics and the differences between calculating methods of Gross Domestic Product.
  • Show how aggregate income and aggregate output are balanced.
  • Identify money market equilibrium and the factors that influence changes in equilibrium.
  • Explain fiscal policy and the operation of automatic stabilizers.
  • Identify alternative macroeconomic approaches.
  • Analyze the impact of policy implementation on the agricultural sector and the linkages of the agricultural sector with other sectors.
  • Explain Agricultural Trade Policy
  • Assess the structure of the World Trade Organization’s Agreement on Agriculture.
  • Make use of the special language for agricultural trade policy analysis.
  • Analyze the welfare impacts of protection by importers.
  • Analyze the welfare impacts of protection by exporters.
  • Evaluate different forms of economic integration.
  • Explain Global Food and Agriculture Issues
  • Explain the value chains in agriculture, functioning of various domestic and global markets, and interventions to correct market distortions.
  • Understand the two-way interactions between agriculture and the environment.
  • Appreciate how important agriculture is in solving the three most important problems in development namely food security, poverty and employment.

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