Career in Agricultural Economics

Agricultural Economics

Even though a number of economies around the world are largely dependent on agriculture for food, fodder, and clothing, rapid urbanization and the need to convert agricultural lands to concrete colonies have increased the burden on the sector. To overcome the issues, pursuing a career in Agricultural Economics can be fruitful. It is a multidisciplinary field that encapsulates the concepts of Business and Economics to solve the problems pertaining to the agriculture industry. With the advancement in technology, primitive agricultural practices are now being replaced with machine powered operations. Further, the need for remodelling of the agricultural industry has led to a rapid increase in the number of jobs in the field. Thus, starting a career in Agricultural Economics can expose you to a variety of career opportunities. In this blog, we will discuss the key elements and the courses being offered in this discipline. 

Agricultural Economics: An Overview

Using the principles of micro and macroeconomics, an Agricultural Economics graduate tends to solve the problems faced globally like food crisis, poor management, and low revenue generation and maximize the revenue generated from the farm-based practices. While at the micro-level, the students are familiarised with concepts like the relation between labour and capital. At the macro level, the students are taught about topics like subsidies to the farmers, cost minimization, revising of agricultural tariffs etc. The course curriculum imparts in-depth knowledge in areas like farm resources, accounting, food crisis, inflation, climate-based economics, logistics, supply chain management, optimizing farm output.  analyzing commodity-market relation, observing buying patterns, and utilization of available resources. 

Also Read: Horticulture Courses

Agricultural Economics Courses

A large number of universities around the world offer an array of bachelor’s and master’s courses in Agricultural Economics. Given below are some of the educational institutions and the degree programs they offer: 

UniversityLocationCourse
Massey UniversityAustraliaBachelor of Agricommerce
University of ArizonaUSABachelor of Science in Agribusiness Economics and Management
University of Reading UKMSc in Agricultural Economics 
The University of Western Australia (UWA) AustraliaMaster of Agricultural Economics 
University of MissouriUSMS in Agricultural and Applied Economics
University of Saskatchewan CanadaM.Sc. in Agricultural Economics
Purdue University USMS in Agricultural Economics/MBA – in Food and Agribusiness Management
University of BonnGermanyMaster of Science in Agricultural and Food Economics
Swedish University of Agricultural SciencesSwedenMaster’s Programme in Agricultural Economics and Management

Job Prospects

With the advancement in food technology, the demand for domain-specific specialists has increased. Thus, a degree in Agricultural Economics can provide an array of job opportunities in various roles. From government organizations to the private sector, job prospects are numerous. Given below are some of the most sought after work profiles in this field:

Agribusiness Consultant: as an agribusiness consultant you will be working closely with the farmers and landowners. You will also be required to use your technical and theoretical knowledge in helping them frame a successful agricultural model capable of generating sufficient income and employment. Apart from this, expanding their businesses and educating them on taking benefits from government-sponsored schemes and loans will also be your primary responsibility. 

Agriculture Development Officer: The primary responsibilities as an Agriculture Development Officer will be to devising plans and strategies to help develop the agriculture sector and increase the overall productivity in the area. Ensuring that the resources are in abundance and are evenly distributed among the farmers would also be part of your job. 

Agricultural Commodities Trader: Another popular work profile of an Agricultural Economics graduate is that of the commodities trader. If the stock market is your forte, then you might find this position very fascinating. In this role, you will be required to procure and trade in raw materials

Agricultural Appraiser: The unique work pattern of an Agricultural Appraiser makes it an ideal career for many students with degrees in Agricultural Economics. The job requires you to assess the properties including farming land, equipment, and other assets when the farmer is buying, selling, or renting it. 

Agricultural Loan Officer: The farmers often need loans to increase the farming potential of their land or to upgrade their equipment. As an Agricultural Loan Officer, you will be working in the banking sector set up for helping the farmers in getting suitable loans as per their requirements. 

Thus, a career in Agricultural Economics opens up doors to a myriad of career prospects all over the world. If you want to study abroad in this field but are not sure about how to get started with the admission process then the experts at Leverage Edu will not only lend you a helping hand in completing the admission-related formalities but will also create an impressive resume that can help you land a job at your dream company. 

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