MSc Curriculum for Agricultural Economics

Bahir Dar University

College of Agriculture and Environmental Sciences

MSc. Curriculum for Agricultural Economics

(Revised)

Department of Agricultural Economics

October, 2017

Bahir Dar, Ethiopia

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 MSc Curriculum for Agricultural Economics

EXECUTIVE SUMMARY

Name of the program: Agricultural Economics

Name of the degree to be awarded: Degree of Masters of Science in Agricultural Economics “የሳይንስ
ማስተርስ ዲግሪ በግብርና ምጣኔ ሃብት”
Degree to be awarded by: Bahir Dar University (subject to the approval of the Senate)

Standard period of study: 2 Academic Years (4 Semesters) for Regular, 3 years (3

summer & 3 winters) for Summer, and 3 years (2 summers &

6 winters) for Extension program

Commencement of the program: October, 2015

Revised Program: 2017/18

Mode: Regular, Summer and Extension Programs

Total Credit Hours: 34

Total CP: 120

Fees /Charges: As per the university’s rate

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 MSc Curriculum for Agricultural Economics

TABLE OF CONTENT

Executive Summary ---------------------------------------------------------------------------------------- II

Table Of Content -------------------------------------------------------------------------------------------- III

1 Background --------------------------------------------------------------------------------------------- 1

2 Rationale ------------------------------------------------------------------------------------------------ 2

2.1 Objective Of The Program -------------------------------------------------------------------------------------- 3

2.2 Reason For Revision ---------------------------------------------------------------------------------------------- 4

3. Profile ------------------------------------------------------------------------------------------------------ 5

3.1 Graduate Profile --------------------------------------------------------------------------------------------------- 5

3.2 Professional Profile ----------------------------------------------------------------------------------------------- 6

3.3 Resource Profile --------------------------------------------------------------------------------------------------- 7

3.4 Program Profile ---------------------------------------------------------------------------------------------------- 7

3.5 Staff Profile --------------------------------------------------------------------------------------------------------- 8

4. Course And Module Coding---------------------------------------------------------------------------- 9

5. List Of Courses And Modules ----------------------------------------------------------------------- 9

5.1 Modules-------------------------------------------------------------------------------------------------------------- 9

5.2 List Of Courses----------------------------------------------------------------------------------------------------- 10

6. Course Breakdown And Mode Of Delivery ---------------------------------------------------- 10

6.1 Mode Of Delivery ------------------------------------------------------------------------------------------------- 10

6.2 Course Breakdown ----------------------------------------------------------------------------------------------- 11

6.2.1 Course Break Down: Regular Program ------------------------------------------------------------------ 11
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 MSc Curriculum for Agricultural Economics

6.2.2 Course Break Down: Summer Program----------------------------------------------------------------- 12

6.2.3 Course Break Down: Extension Program --------------------------------------------------------------- 14

7. Learning And Assessment Strategy ------------------------------------------------------------- 15

8. Rules, Regulation And Requirments ----------------------------------------------------------- 15

8.1 Admission ---------------------------------------------------------------------------------------------------------- 15

8.2 Grading And Scaling---------------------------------------------------------------------------------------------- 15

8.3 Graduation Requirements ------------------------------------------------------------------------------------- 16

8.4 Nomenclature ---------------------------------------------------------------------------------------------------- 16

8.5 Medium Of Instruction ------------------------------------------------------------------------------------------ 16

8.6 Duration Of The Study ------------------------------------------------------------------------------------------ 16

8.7 Total Load ---------------------------------------------------------------------------------------------------------- 16

9. Quality Assurance ------------------------------------------------------------------------------------- 17

10. Annexes------------------------------------------------------------------------------------------------- 18

10.1 Module Handbook ---------------------------------------------------------------------------------------------- 18

10.2 Course Handbook ---------------------------------------------------------------------------------------------- 21

10.3 Need Assessment ----------------------------------------------------------------------------------------------- 63

10.3.2 Results Of The Need Assessment ---------------------------------------------------------------------- 64
10.3.4 : Need Assessment Questionnaire --------------------------------------------------------------------- 71

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 MSc Curriculum for Agricultural Economics

1 BACKGROUND

Bahir Dar University was established by merging two former higher education
institutions; namely the Bahir Dar Polytechnic and Bahir Dar Teachers’ College. The Bahir Dar
Polytechnic Institute, which has transformed itself into Technology and Textile institutes, was
established in 1963 under the technical cooperation between the Government of USSR and the
Imperial Government of Ethiopia. The institute was a premier institute in producing technicians
for the nation. The Bahir Dar Teachers’ College, by then known as the Academy of Pedagogy,
was established in 1972 by the tripartite agreement of the Imperial Government of Ethiopia,
UNESCO and UNDP and started actual work in the following year under the auspices of the
Ministry of Education and Fine Arts. Its general objective was to train multipurpose primary
education professionals capable of adopting primary education to rural life and rural
development. Its specific objectives were to train primary school teacher trainers, supervisors,
educational leaders, adult education organizers and community development agents.

The two institutions of higher learning were integrated to form the Bahir Dar University
following the Council of Ministers regulation no. 60/1999 GC. The University was inaugurated
on May 6, 2000. Bahir Dar University is now among the largest universities in the Federal
Democratic Republic of Ethiopia, with more than 45,000 students in regular, extension, summer,
and distance programs. It has 57 undergraduate and 39 graduate programs. Bahir Dar University
has four colleges, three institutes, three faculties and one school. The academic units of the
University include College of Science, College of Agriculture and Environmental Sciences,
College of Medical and Health Sciences, College of Business and Economics, Institute of
Technology, Institute of Textile, Garment and Fashion Design, Institute of Land Administration,
Blue Nile Water Institute, Faculty of Humanities, Faculty of Social Sciences, Faculty of
Education and Behavioral Sciences and School of Law.

The College of Agriculture and Environmental Sciences is one of the Colleges of BDU
established in 2005. Seven under- graduate and six post-graduate programs are currently running
under the College. The under graduate programs include BSc programs in Agricultural
Economics, Plant Science, Animal Science and Technology, Natural Resource Management,

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Fishery, Wetland and Wildlife Management, Disaster, Risk and Sustainable Development and
Rural Development & Agricultural Extension.

The department of Agricultural Economics at Bahir Dar University has been opened
recently in 2011 and has about 160 undergraduate students. In line with the policy and direction
of the nation and the university, the department has been engaging in teaching, research and
community service activities.

The department has worked in collaboration with different National Universities

including Jima University, Hawassa University and Haramaya University, and with different
regional and national development and research organization. It has also collaboration with Boku
University of Austria, Makarere University of Uganda, University of Nairobi of Kenya and
Sokoine University of Tanzania.

2 RATIONALE

Food security is still the pressing concern for Ethiopia amidst the effort of reducing
poverty. Even though agriculture is being practiced in most parts of the country, the minimum
food energy requirement was not even assured. Several million school children are still
malnourished, and many others suffer from disease and hunger.

Ethiopian is predominantly an agrarian country where agriculture contributes almost 50%

of the GDP, employs about 85 percent of the labor force, accounts for about 90 percent of the
foreign exchange earnings, and provides livelihood to over 90 percent of the population,
(MoFED)1. Obviously, the country’s future development heavily relies on the efficient and
effective mobilization and utilization of agricultural resources. In spite of the salient roles
agriculture plays in the national economy and the rich potentials the country has for agricultural
development, the performance of the sector is not yet satisfactory.

Due to globalization, individuals in the world now are opting for food and fibre from
countries having comparative advantage of production. To make use of this opportunity the
country has to be competent in the global market by producing competent human resource in the

1
MoFED, 2005. Ethiopia: Country Profile, Addis Ababa.

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 MSc Curriculum for Agricultural Economics

areas of optimizing scarce resource use, planning profitable projects which accelerate the pace of
economic growth. In addition, the government of Ethiopia has considered development of
agriculture as a spring-board to bring about overall economic development and to reach middle-
income status before 2025 as set forth in the Growth and Transformation Plan.

The current poverty reduction effort and promotion of sustainable development in

Ethiopia demand competent and committed professionals in Agricultural Economics. In reply to
this demand, the different universities developed a curriculum to contribute its share to the socio-
economic development of the country. According to the preliminary surveys made by Haramaya
and Jimma Universities in 2013 to assess the market demand for agricultural economists, the
result clearly indicated that there is shortage of these professionals in the labour market at
graduate level. On the other hand, to enhance agricultural development through effective
mobilization of the potential resources of the nation, the role of trained human resource in
various disciplines including Agricultural Economics is crucial. The productivity of the peasant
sub-sector has to be improved along with the development of agricultural enterprises, the inter-
sectoral linkages should be enhanced and the sustainability of the economic development of the
country should be ensured through effective economic management.

Bahir Dar University aspires to be one of the top 10 research universities in Africa which
requires expansion of post graduate programs and research institutes/centers. Therefore, meeting
objectives by stretching in to the targets of boosting production and productivity requires trained
professional who can understand the circumstance and participate in the management of sustainable
development endeavor.

2.1 Objective of the Program

Therefore, the general objectives of the graduate program in Agricultural Economics is to

produce competent professionals in Agricultural Economics that are capable of performing their
activity in the areas of teaching, academic research and actions of intervention through the
acquisition of methods and concepts which allow them to implement projects and carry out
planning activities. The specific objectives of the program are: Understand the complex
agricultural realities of Ethiopia and there by contribute to conduct of problem solving researches
in the field of agriculture.

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 Contribute to the improvement of the quality of teaching in higher education and researches
in agricultural institutions.

 Analyze and evaluate the design, implementation and management of agricultural

development projects, agricultural marketing and agribusiness activities.

 Investigate the implementation of agricultural sector policies through the analysis and
evaluation of agricultural development actions implemented at national, regional and local
levels;
 Connect the insights on the effects of agricultural practices to that of sustainable natural and
environmental resource use.
 To provide greater access to higher education program in order to meet the demand arising from
the agriculture and rural developmental endeavor of the country

 To qualify the student for further studies, including PhD programs.

2.2 Reason for Revision

The existing curriculum is not compatible to the University’s legislation and the courses are not
uniformly distributed across semesters. Therefore, it is advisable to revise the existing curriculum.

The following are some of the majour revisions/modifications.

 AgEc 6012: Macroeconomics: changes from 1st year Semester I course to a 1st year
Semester II course ; and AgEc 6032: Econometrics: Theories and Application: changes from
1st year Semester II course to 1st year Semester I course.
 AgEc 6033: Seminar in Agricultural Economics: changes from 2nd year 1st semester course
with a course code of AgEc 7033 to a 1st year semester II with a course code of AgEc 6033
 AgEc 602X: Elective course: changes from AgEc 6025 :Environmental & Natural Resource
Economics(E) and AgEc 6025: Institutional Economics (E) to AgEc 602X: Elective course
 1st year semester I total Credit hours changes from 14 to 15 & 2nd year semester I total Credit
hours changes from 7 to 6
 1st year semester I total CP changes from 28 to 30, 1st year semester II total CP changes from
26 to 30 & 2nd year semester I total CP changes from 66 to 60
 Total number of courses changes from 11 to 10

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3. PROFILE

3.1 Graduate Profile

During the master’s program in Agricultural Economics students must obtain a minimum
competence of knowledge, skills, as well as attitudinal change described below. These
qualifications are obtained partly through the specialization courses and partly through the
common courses and the preparation of a master’s thesis. The graduate of the Master of Science
in Agricultural Economics should be able to:
Knowledge

 Define the welfare economic foundation of agricultural economics.

 Present fundamental agricultural economic and the analytical methodologies applied
within the disciplines
 Associate relevant agricultural setting within economics
 Explain major agricultural policy issues and discussions
 Identify relevant policy instruments to manage agricultural problems and the
utilization/extraction of natural resources
 Reflect about the value concepts underlying agricultural economics
 Relate agriculture and economics
 Discuss alternative economic theories and recommendations regarding agricultural
issues

Skills

 Carry out quantitative as well as qualitative analyses of agricultural policy problems

based on appropriate theories and methods
 Critically assess the validity and limitations of economic theories, models and
methodologies when dealing with different agricultural methodologies
 Prepare coordinate and appraise projects on agricultural issues
 Communicate issues regarding agricultural economics effectively to specialist and non-
specialist audiences
 Develop and implement agricultural production policy instruments.

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 Apply quantitative and qualitative skills in applied statistics, survey research and
analytical modeling
 Assess agricultural policy and economic problems and propose solutions based on a
solid theoretical foundation in complex economic, political, social and ethical contexts
 Adapt different analytical approaches to unforeseen agricultural production problems
 Integrate new scientific findings in professional or research activities at a high academic
level
 Design policies to protect agricultural production problems with economic models.

 Conduct problem solving researches in the field of agricultural economics.

 Teach agricultural Economics courses in higher education and other agricultural colleges.
 Analyze, evaluate, design, implement and manage agricultural development projects,
agricultural marketing and agribusiness activities.
 Contribute to formulation and implementation of agricultural sector policies through the
analysis and evaluation of agricultural development actions implemented at national,
regional and local levels;
 Connect the insights on the effects of agricultural practices to that of sustainable natural
and environmental resource use.

Attitude
 Ready to protect the environment and efficient use of natural resources
 Easily able to work and debate with different professionals
 Have a rational attitude about private and/or public matters
 Ready to create awareness about the agricultural production problems
 Believe in empirical findings to formulate policies in agricultural production problems

3.2 Professional Profile

The graduates can have many opportunities to get employed. For instance they can get;
 Employment in ministries (e.g. Ministry Agriculture, Ministry of Finance and Economic
Development) and other government agencies such as Environmental Protection Authority,
Cooperative Promotion Agency, Agricultural Growth Program (AGP), Agricultural

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 MSc Curriculum for Agricultural Economics

Transformation Agency (ATA),where he/she can influence the creation of policies on

agriculture and environment.

 Employment in agricultural research institutions at regional and national levels such as

Ethiopian Agricultural Research Institute and regional level research institutes in all regional
states of Ethiopia.

 Employment in government and private companies engaged in agricultural marketing and

agribusiness activities.

 Work as economics policy advisor, analyst, manager of agricultural resources, and financial
counselor at national or international levels.
 Employment in Universities to teach courses in the fields of Agricultural
economics/economics and social studies.
 Employment in international organizations and research institutions like the World Food
Program (FAO), International Livestock Research Institute (IRLI), International Food Policy
Research Institute (IFPRI) etc.

3.3 Resource Profile

Bahir Dar University is one of the oldest universities in Ethiopia and it has a well-
developed infrastructure and has long experience of managing postgraduate programs. The
College of Agriculture and Environmental Science has built its own campus and transferred
since 2012. It has basic instructional materials, equipment and different facilities to facilitate the
academic study of the program. The college has a library, computer lab and broadband internet
service for post graduate students. The colleges have its own cars addition vehicles shared with
other colleges, schools, academies and institutes.

3.4 Program Profile

The MSc programme in Agricultural Economics is a social science programme

that focuses on economic methods and tools which equip you to solve problems. With an MSc
degree in Agricultural Economics, it helps to assess agribusiness economics, international
economics and development economics issues and decision-making processes. It can work with
legislation and relevant institutions, and it helps to analyse interdisciplinary topics from an

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economic angle. At the same time, it enables to communicate academic issues and solutions to
peers and the public. It helps to acquire in-depth knowledge about the economic policy
landscape. In addition it provides with the necessary tools to analyse and advise on international
economics and development and/or industrial economics from a food policy perspective. It helps
to come across both national and global issues.

3.5 Staff Profile

The department of Agricultural economics can use the listed down potential instructors
for easily handling the MSc program. In addition, it has also a number of potential lecturers that
can upgrade their academic status and support the post graduate program (refer Table 1 and
Table 2).

Table 1: Staff Profile

No Name Qualificat MSc PhD Rank Remark
ion Agricultural Assistant Bahir Dar
1 Dr. Zemen Ayalew PhD Agricultural Economics
Economics Professor University
Agricultural Assistant Bahir Dar
2 Dr. Zewdu Berhanie MSc Resource Economics
Economics Professor University
Assistant Bahir Dar
3 Dr. Daregot Berihun PhD Project Planning Agricultural Economics
Professor University
Agricultural Land Resource Assistant Bahir Dar
4 Dr. Zerhiun Nigusie PhD
Economics Economics Professor University
Development Assistant Bahir Dar
5 Dr. Benberu Assefa PhD Development Economics
Management Professor University
Development Assistant Bahir Dar
6 Fentahun Tessafa MSc
Economics Professor University
Regional and Local Applied and Resource Assistant
7 Berhiun Tefera MA PhD Leave
Dev’t Studies(RLDS) Economics Professor
Agricultural Economics of Agro-
8 Ermias Tesfaye MSc Lecturer PhD Leave
Economics biodiversity
Food and Environmental
9 Solomon Bizuayehu MSc Resource Economics Lecturer PhD Leave
Economics

Table 2: Supportive Staff Profile

Natural
Development Socio-
1 Dr. Akalu Firew PhD Resource ARARI
Economics economist
Economics
Regional and Local Resource D/Director
2 Dr Tilaye Teklewold PhD ARARI
Dev’t Studies(RLDS) Economics ARARI
Agricultural Rural ORDA
3 Dr Bamlaku Assress PhD ORDA
Economics Development Director

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4. COURSE AND MODULE CODING

The modules offered in the program will have the home base ‘AgEc’ followed by a four-
digit figure. The first digit represents years of study (6 for first year and 7 for second year); the
next two digits represent module number in which 01-fundamentals of economics, 02-applied
agricultural economics and 03- Research Methods and Tools; and the last digit represents
sequences of courses in module.

5. LIST OF COURSES AND MODULES

5.1 Modules

Code Name CP Cr hrs Lect. Lab/p Home

rac Tut.
Hr. study
AgEcM 01 Fundamentals of Economics 12 6 96 0 0 228
AgEc 6011 Microeconomics 6 3 48 0 0 114
AgEc 6012 Macroeconomics 6 3 48 0 0 114
AgEcM 02 Applied Agricultural Economics 34 17 272 0 0 446
AgEc 6021 Production Economics and farm Management 6 3 48 0 0 114
AgEc 6022 Agricultural Marketing and Value Chain 6 3 48 0 0 114
Management

AgEc 6023 International Trade 4 2 32 0 0 76

AgEc6024 Agricultural Project Planning and management 6 3 48 0 0 114

AgEc 6025 Environmental & Natural Resource Economics 6 3 48 0 0 114
AgEc 6026 Institutional Economic 6 3 48 0 0 114
AgEcM 03 Research Methods and Tools 80 14 112 0 0 1,076

AgEc 6031 Research Methods & Scientific Writing for 6 3 48 0 0 114

Economists

AgEc 6032 Econometrics : Theories and Application 8 4 64 0 0 152

AgEc 6033 Seminar in Agricultural Economics 6 1 0 0 0 162

AgEc 7034 Thesis 60 6 0 0 0 648

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 MSc Curriculum for Agricultural Economics

5.2 List of Courses

Table 3: List of courses of the program and CP distribution

Course Cr. Lab/

CP Lec Tut. Hom. Tot hr.
code hr prac
Microeconomics AgEc 6011 6 3 48 0 0 114 162
Macroeconomics AgEc 6012 6 3 48 0 0 114 162
Production Economics and farm Management AgEc 6021 6 3 48 0 0 114 162
Agricultural Marketing and Value Chain
Management AgEc 6022 6 3 48 0 0 114 162

International Trade
AgEc 6023 4 2 32 0 0 76 108
Agricultural Project Planning and management AgEc 6024 6 3 48 0 0 114 162
Institutional Economic (elective) AgEc 6025 6 3 48 0 0 114 162
Environmental & Natural Resource Economics
AgEc 6026 6 3 48 0 0 114 162
(elective)
Research Methods & Scientific Writing for
Economists AgEc 6031 6 3 48 0 0 114 162

Econometrics : Theories and Application

AgEc 6032 8 4 64 0 0 152 216
Seminar in Agricultural Economics
AgEc 6033 6 1 0 0 0 162 162
Thesis
AgEc 7034 60 6 0 0 0 648 648
120 34
Remark: Master thesis includes proposal and main research

6. COURSE BREAKDOWN AND MODE OF DELIVERY

6.1 Mode of Delivery

The courses will be delivered through lectures, providing exercise and assignment,
practical trainings, educational tour, project work, term papers, and research work. The aim is
not only to train the students adequately but also evaluate whether they qualify in the course or
not. In addition, latest technologies, like LCD, web pages, etc would be used to deliver the
courses. Students would be evaluated based on written and computer wise assignments, class
participation, presentation, reports, mid-term and final examination.

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 MSc Curriculum for Agricultural Economics

6.2 Course Breakdown

6.2.1 Course Break Down: Regular Program

Year I Semester I
Course Cr. Course
S.No Course title CP Delivery
Code Hr. Type
1 Microeconomics AgEc 6011 6 3 Compulsory Parallel
2 Econometrics: Theories and Application AgEc 6032 8 4 Compulsory Parallel
3 Production Economics and Farm Management AgEc 6021 6 3 Compulsory Parallel
4 Agricultural Marketing and Value Chain Management AgEc 6022 6 3 Compulsory Parallel
5 International Trade AgEc 6023 4 2 Compulsory Parallel
Total 30 15

Year I Semester II
Course Credit Course
S.No Course title Cr. Hr. Delivery
Code Hour Type
1 Macroeconomics AgEc 6012 6 3 Compulsory Parallel
2 Agricultural Project planning and Management AgEc 6024 6 3 Compulsory Parallel
3 Research Methods & Scientific Writing for Economists AgEc 6031 6 3 Compulsory Parallel
4 Elective Course AgEc 602X 6 3 Elective Parallel
5 Seminar in Agricultural Economics AgEc 6033 6 1 Compulsory Parallel
Total 30 13
Remark: - The elective courses are: Environmental & Natural Resource Economics (AgEc6025) and
Institutional Economics (AgEc6026)

Year II Semester I
Course
S.No Course title Course code CP Cr. Hr. Delivery
Type
1 Thesis AgEc 7034 60* 6 Compulsory NA
Total 60 6
Year II Semester II
Course
S.No Course title Course code CP Cr. Hr. Delivery
Type
1 Thesis AgEc 7034 Ongoing Compulsory NA
Total

* Thesis work will be for both semesters & grading will take place at the end of 2nd semester.

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 MSc Curriculum for Agricultural Economics

6.2.2 Course Break Down: Summer Program

Year I - Summer I
Cr. Course Delivery
S.No Course title Course Code CP
Hr. Type
1 Microeconomics AgEc 6011 6 3 Compulsory Parallel
2 Econometrics: Theories and Application AgEc 6032 8 4 Compulsory Parallel
Total 14 7
Year 1: Winter (Distance) Courses
S.No Course Title Course code CP Cr Type Delivery
1 Agricultural Marketing and Value Chain Management AgEc 6022 6 3 Compulsory Parallel
2 Agricultural Project planning and Management AgEc 6024 6 3 Compulsory Parallel
Total 12 6

Year II - Summer II

S.No Course title Course code CP Cr. Type Delivery

1 Macroeconomics AgEc 6012 6 3 Compulsory Parallel
2 Research Methods & Scientific Writing for Economists AgEc 6031 6 3 Compulsory Parallel
Total 12 6
Year II- Winter (Distance) Courses
S.No Course Title Course code CP Cr. Course Delivery
Hr. Type
1 International Trade AgEc 6023 4 2 Compulsory Parallel
2 Seminar in Agricultural Economics AgEc6033 6 1 Compulsory Parallel
Total 10 3

Year III – Summer III

S.No Course Title Course code CP Cr. Course Delivery
Hr. Type
1 Production Economics and Farm Management AgEc 6021 6 3 Compulsory Parallel
2 Elective Course AgEc 602X 6 3 Elective Parallel
Total 12 6
Remark: - The elective courses are: Environmental & Natural Resource Economics (AgEc6025) and
Institutional Economics (AgEc6026)

Year III – Winter (Distance) Courses

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 MSc Curriculum for Agricultural Economics

S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Thesis AgEc 7034 60* 6 Compulsory NA
Total 60 6
* Thesis work will be for Year III –Winter and grading will take place at the end of Year III.

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 MSc Curriculum for Agricultural Economics

6.2.3 Course Break Down: Extension Program

Year I - Semester I
S.No Course title Course Code CP Cr. Hr. Course Type Delivery
1 Microeconomics AgEc 6011 6 3 Compulsory Parallel
2 Econometrics: Theories and Application AgEc 6032 8 4 Compulsory Parallel
Total 14 7
Year I - Semester II
S.No Course title Course Code CP Cr. Hr. Course Type Delivery
1 International Trade AgEc 6023 4 2 Compulsory Parallel
2 Macroeconomics AgEc 6012 6 3 Compulsory Parallel
Total 10 5
Year I - Summer
S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Agricultural Marketing and Value Chain Management AgEc 6022 6 3 Compulsory Parallel
2 Research Methods & Scientific Writing for Economists AgEc 6031 6 3 Compulsory Parallel
Total 12 6
Year II - Semester I
S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Production Economics and Farm Management AgEc 6021 6 3 Compulsory Parallel
2 Agricultural Project planning and Management AgEc 6024 6 3 Compulsory Parallel
Total 12 6
Year II - Semester II
S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Elective Course AgEc 602X 6 3 Elective Parallel
2 Seminar in Agricultural Economics AgEc 6033 6 1 Compulsory Parallel
Total 12 4
Year II - Summer
S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Thesis AgEc7034 60 6 Compulsory NA
Total 60 6
Year III – Semester I
S.No Course title Course code CP Cr. Hr. Course Type Delivery
1 Thesis AgEc7034 Ongoing Compulsory NA
Total

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 MSc Curriculum for Agricultural Economics

7. LEARNING AND ASSESSMENT STRATEGY

The whole course materials will be delivered through lectures, reading and homework assignments.
There will be contact hour and independent study
The following assessment methods will be used:
 Assignments & Continuous Assessments (CA)
 Project/term paper
 Final examination

8. RULES, REGULATION AND REQUIRMENTS

8.1 Admission

Academic and non-academic requirements for this program will follow the Bahir Dar
University's requirements which are listed below:
 Applicants must have Bachelor of Science or Art degree in Agricultural economics, Natural
Resource economics and Management, Agricultural Resource Economics and
Management, Agri-business management, Rural Development and Economics from
accredited higher learning institutions.
 The students must pass the entrance exam for enrollment prepared by the department
 Results of entrance exam accounts 70%, CGPA Accounts 20%, Relevant Work experience
and/or recommendation letter 5% , and Gender 5%

8.2 Grading and Scaling

As per BDU senate Legislation

The Graduate Thesis

General Requirements

 The selection of thesis topics shall be based on the broad objectives of the country and
priority areas of research set by the College of Agriculture and Environment Sciences of
Bahir Dar University. The research work may be carried out in collaboration with other
universities or Research institutions and others within Ethiopia;

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 MSc Curriculum for Agricultural Economics

 The topic of the thesis of each student shall be approved by the Department Graduate
Committee (DGC), the school of graduate studies and Academic Commission;
 A student to be recommended for graduation should defend successfully and be awarded a
pass mark by the examination board based on the quality of thesis and oral defense.

Thesis Evaluation: as per BDU senate legislation

Research Advisor and Examination Board

As per the BDU senate Legislation

8.3 Graduation Requirements

 As per the University’s Senate Legislation

8.4 Nomenclature

 The degree to be awarded is

- In English : Degree of Master of Science in Agricultural Economics
- In Amharic: “የ ሳይንስ ማስተርስ ዲግሪ በግብርናምጣኔ ሃብት”

8.5 Medium of Instruction

The medium of instruction for the program is in English

8.6 Duration of the Study

Two Academic Years (4 Semesters) is required for Regular Program, 3 years (3 summer and 3
winters) for Summer Program, and 3 years (2 summers & 6 Winters) for Extension program

8.7 Total Load

The total load of the program would be 120 CP (60 CP coursework and 60 CP Thesis) or 34 credit hours (28
credit hour coursework and 6 credit hour Thesis)

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 MSc Curriculum for Agricultural Economics

9. QUALITY ASSURANCE

Higher Education Relevancy Quality Assurance (HERQA) is an autonomous Agency

established through the Higher Education Proclamation 351 in 2003 as the key agency responsible
for guiding and regulating the higher education sector in Ethiopia. In 2009, its mandates and
responsibilities have been amended through another proclamation (No. 650/2009). HERQA has
been established because of the need for Ethiopia to have a high quality assurance agency capable
of monitoring HEIs to ensure they provide a high quality and relevant higher education provision in
the country. One of the central roles of HERQA is to encourage and assist the growth of an
institutional culture in Ethiopian higher education that values quality and is committed to
continuous improvement.

One of HERQA's key activities is to conduct Institutional Quality Audits of (Higher

Education Institutes) HEIs. An Institutional Quality Audit is an in-depth analysis and assessment of
the quality of the teaching and learning environment, the relevance of programs delivered by HEIs,
the effectiveness of a HEI's approach to quality assurance, its systems of accountability and its
internal review mechanisms. The product of an Institutional Quality Audit is an Institutional
Quality Audit Report. Following the institutional self-evaluation, the HEI prepares a Self
Evaluation Document (SED) organized in accord with guidelines issued by HERQA. This helps to
ensure that all SEDs deal with the same aspects of the work of higher education institutions and are
of similar structure and length. Completed SEDs are sent to HERQA

In order to assure quality for the program, measures will be taken as per the universities’
quality assurance policy. Besides, Agricultural Economics program will make use of the following
measures for evaluating and monitoring the quality of the teaching learning process.
 designing institutional self-assessment at program level (e.g. course evaluation, course
content revision, etc)
 holding regular meeting with stakeholders
 conducting employer feedback surveys
 carrying out College and University wide workshops

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 MSc Curriculum for Agricultural Economics

10. ANNEXES

10.1 Module Handbook

Bahir Dar University

College of Agriculture and Environmental Sciences
Department of Agricultural Economics
M.Sc. in Agricultural Economics
Module Name Fundamentals of Economics
Module Code AgEcM 01
Total CP of the 12
module
Module  Demonstrated basic knowledge on fundamentals of economics
competence
Objective of the  Describe concepts and principles in micro and macro-economics
module  Explain the basics of institutional and rural economics

Courses in the Module

Course Code Course Title Credit Hours CP
AgEc 6011 Microeconomics 3 (3 + 0) 6
AgEc 6012 Macroeconomics 3 (3 + 0) 6

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 MSc Curriculum for Agricultural Economics

Bahir Dar University

College of Agriculture and Environmental Sciences
Department of Agricultural Economics
M.Sc. in Agricultural Economics
Module Name Applied Agricultural Economics

Module Code AgEcM 02

Total CP of the module 34
Module competence  Apply the principles and theory of farm management on
agricultural enterprises
Objective of the module  Explain the concept of agricultural marketing and value
chain management
 Demonstrate knowledge on basics and principles of natural
resource and environmental Economics.
 Explain the concepts of climate and resource use economics
and policy
Courses in the Module
Course Code Course Title Credit Hours CP
AgEc 6021 Production Economics and farm 3 (3 + 0) 6
Management
AgEc 6022 Agricultural Marketing and Value 3 (3+0) 6
Chain Management

AgEc 6023 International Trade in Agriculture 2 (2+0) 4

AgEc6024 Agricultural Project Planning and 3 (3+0) 6

management
AgEc 6025 Environmental & Natural Resource 3 (3 + 0) 6
Economics
AgEc 6026 Institutional Economics 3 (3 + 0) 6

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 MSc Curriculum for Agricultural Economics

Bahir Dar University

College of Agriculture and Environmental Sciences

Department of Agricultural Economics

M.Sc. in Agricultural Economics

Module Name Research Methods and Tools

Module Code AgEcM 03

Total CP of the 80
module

Module  Propose research projects, analyze and manage it.

competence

Objective of the  Determine a spectrum of quantitative methods and tools and their
module application in environment and natural resource economics

 Select and apply appropriate econometrics tools and techniques for

studying and interpreting varied natural and environmental
economic issues

Courses in the Module

Course Code Course Title Credit CP

Hours

AgEc 6031 Research Methods & Scientific Writing 3 (3 + 0) 6

for Economists

AgEc 6032 Econometrics : Theories and Application 4 (4+0) 8

AgEc 6033 Seminar in Agricultural Economics 1 (1 + 0) 6

AgEc 7034 Thesis 6 (6 + 0) 60

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 MSc Curriculum for Agricultural Economics

10.2 Course Handbook

AgEc 6011: Microeconomics

Classification: Compulsory Number of Credits: 3

Course Description
An in-depth study of microeconomic theory and its applications as represented by published
articles in academic journals and other contemporary literature. Topics may include individual
decision making of the consumer and the producer, market analysis and welfare economics and
analysis.

Course Objectives
This course provides a theoretical foundation in Economics and its application for almost all
other courses in the program. Specifically, the course is intended to enable students:
 Acquire and use the language and logic of microeconomic theories of the consumer and the
firm;
 Apply microeconomic theories to problems of agriculture, rural development, and the
environment; and
 Acquire knowledge of the practical uses of Microeconomics in research and management.
Expected Learning Outcomes
By the end of the course, students should be able to:
 Apply the Lagrangian technique of constrained optimization;
 Derive and apply individual demand functions;
 Derive the market demand functions;
 Derive elasticity’s and apply them;
 Explain Pareto optimum conditions;
 Show the gains from exchange using the Edge worth Box;
 Understand the fundamental theorems of welfare economics and application;
 Analyze the behavior of the firms
Prerequisites
Students enrolled for this course are expected to have acquired competence in undergraduate
Microeconomics and Mathematics. In Microeconomics, mastery up to the intermediate

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 MSc Curriculum for Agricultural Economics

undergraduate level is expected. In Mathematics, students are expected to have a working

knowledge of Algebra, Analytic Geometry, and Differential Calculus.
Part I: Individual Decision Making
Topic 1: Consumer Theory
1.1. Introduction
1.2. Consumption set and Budget constraint
1.3. Preference and Utility
1.4. Utility Maximization and Optimal choice
1.5. Indirect Utility, Expenditure and money metric utility function, and Some important
Identities
1.6. Dual Utility direct and indirect utility
1.7. Properties of consumer demand
 Income changes and consumption choice
 Price changes and consumption choice
 Income-substitution effect; Slutsky and Hicks equation
 Continuity and differentiability of demand function
 Inverse demand function
1.8. Reveled Preference
1.9. Topics in demand Behavior
 Endowments in the budget constraint
 Income – Leisure choice model
 Homothetic utility functions
 Aggregating across goods
 Aggregating across consumers
1.10. Elasticity of Demand Functions
 Cross-price elasticity of demand
 Elasticity’s for various types of demand functions
 The relationship between price elasticity and total revenue for linear demand
functions
 Elasticity of substitution in consumption
Topic 2: Theory of the Firm
2.1. Production Technology

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 MSc Curriculum for Agricultural Economics

2.2. Profit Maximization

2.3. Cost and Profit Functions
2.4. Cost Minimization
2.5. Relating Demand Functions to Profit Functions
Topic 3: The Problem of Choice in Situations Involving Risk
3.1. The Axioms
3.2. Expected utility
3.3. Attitudes towards risk
3.4. Risk and insurance
Part II: Strategic Behavior and Market
Topic 4: Game Theory
4.1. Introduction
4.2. Description of a Game
4.3. Solution concepts
4.4. Repeated Game
4.5. Refinement of Nash Equilibrium
4.6. Games with Incomplete information
Topic 5: Market Analysis
5.1. Perfect competition
5.2. Pure Monopoly
5.3. Monopolistic Competition
5.4. Oligopoly
5.5. Monopsony
Part III: General Equilibrium Theory and Social Welfare
Topic 6: Consumption Efficiency and Gains from Exchange
6.1. Partial Equilibrium analysis
6.2. The structure of general equilibrium analysis
Topic 7: Theory of Welfare
7.1. Pareto Efficiency of Allocation
7.2. First fundamental theorems of welfare economics
7.3. Second fundamental theorems of welfare economics
7.4. Non-convex production Technologies and Marginal cost pricing

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 MSc Curriculum for Agricultural Economics

7.5. Pareto Optimality and Social welfare maximization

7.6. Political overtones
6. Mode of Delivery
The course materials will be delivered through lectures, reading and homework assignments. There
will be 3 contact hours per week and 9 hrs of independent study per week for the 16-week semester.
7. Assessment Methods
The following assessment methods will be used:
 Two separate Assignments each 20%
 Project/term paper 20%
 Final examination 40%
The assignments will consist of theoretical and applied microeconomic problems to be solved by
the students. The CATs will be based on the lectures, readings, and homework assignments. The
final examination will test knowledge gained throughout the course.
8. Course Materials
Recommended Textbooks
 Nicholson, Walter. 2002. Microeconomic Theory: Basic Principles and Extensions, 8th
Edition. London: South-Western (Thomas Learning).
 Hal. Varian, (1992), Microeconomic Analysis 3rd Ed. W.W.W. Notern & Compancy, INC.
New york
 Henderson, J.M., and R.E. Quandt. 1980. Microeconomic Theory: A Mathematical
Approach, 3rd Edition. London: McGraw Hill.
Further Readings
 Baumol, William J. 1999. Economic Theory and Operations Analysis, 4th Edition. New
Delhi: Prentice-Hall of India.
 Binger, Brian, and Elizabeth Hoffman. 1998. Microeconomics with Calculus, 2nd Edition.
 Reading, Massachusetts: Addison-Wesley.
 Chiang, Alpha C. 1985. Fundamental Methods of Mathematical Economics. London:
McGraw Hill.
 Dowling, Edward T. 2001. Schaum’s Outline: Introduction to Mathematical Economics. 3rd
Edition. New York: McGraw-Hill.
 Harkwick, P., B. Khan, and J. Langmead. 1996. An Introduction to Modern Economics, 4th
Edition. New York: Addison Wesley Longman Publishing.

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 MSc Curriculum for Agricultural Economics

 Lipsey, R. G., and K. A. Christal. 1999. Principles of Economics, 9th Edition. Oxford
University Press.
 Salvatore, Dominick. 1992. Schaum’s Outline of Theory and Problems of Microeconomic
Theory. 3rd Edition. New York: McGraw-Hill.
 Silberberg, E. & W. Suer, 2001. The Structure of Economics: a Mathematical Analysis 3rd
edition, McGraw Hill Book co.
 Wetzstein, Michael. 2004. Microeconomic Theory: Concepts and Connections with
Economic Applications. South-Western College Publishers.

AgEc 6012: Macroeconomics

Classification: Compulsory Credits Hours: 3

Course Description
This course is an advanced treatment of macroeconomic theory, models, practice, and policies. The
course presents a critical review of both mainstream and structuralism macroeconomic traditions.
The relevance of the forgoing to the contemporary world of developed and developing countries,
specifically to the Ethiopian context will be adequately emphasized.

Prerequisites
Students will be required to have completed at least upper undergraduate Macroeconomics. The
student should have covered IS-LM analysis, open economy macroeconomics and growth theories.
Those not meeting the prerequisite should take remedial courses in preparation. Mathematical
Economics at undergraduate especially Calculus and Matrix Algebra is required and should also be
taken as a remedial course if prerequisite is not met.

Course Objectives
The objectives of the course are:
o To develop a thorough knowledge of different approaches in Macro-Economics;
o Develop a critical perspective in macroeconomics theory and applications;
o Expose the students to the nature and importance of linkages between agriculture and the
macro-economy; and
o Examine theories and methods as applied in developing countries

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 MSc Curriculum for Agricultural Economics

Expected Learning Outcomes

At the end of the course the students are expected to:
o Understand the structure of a macroeconomic system and the underlying theoretical
framework as well as controversies and debates;
o Apply methodology and techniques studied in conceptualizing macro-economic issues;
o Analyze relevant macroeconomic policies and issues, especially those that relates to
agriculture; &
o Evaluate macroeconomic policies and their impacts in contemporary developing countries.

Course Content
Topic 1: Aggregate Demand and Aggregate Supply
1.1. The aggregate labour market
1.2. Aggregate Demand: Review of the IS-LM Model
1.3. Schools in macroeconomics
1.4. The adaptive expectations and stability analysis
1.5. Investment, capital stock and stability
1.6. Wealth effects and the government budget constraints
Topic 2: Real Business Cycle and Open Macroeconomic Theories
2.1 Introduction
2.2 Theories of Economic fluctuations
2.3 Baseline Real business cycle model
2.4 Household Behavior
2.5 Solving the model in general case
2.6 National Income and Monetary Accounting
2.7 Open Economy IS-LM-BP Model
2.8 Capital Mobility and Economic Policy
2.9 Extended Mundell-Fleming Model
2.10 Comparative Static Effects
2.11 Economic Policy and the World Economy
Topic 3: Consumption and Saving Theories and Application
3.1 Keynesian Consumption Function

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 MSc Curriculum for Agricultural Economics

3.2 Life- Cycle Hypothesis

3.3 Consumption under Certainty: Permanent Income Hypothesis
3.4 Consumption under uncertainty: Random Walk Hypothesis
3.5 Consumption and Risky Assets
3.6 Beyond Permanent Income Hypothesis
Topic 4: Investment of Theories
4.1 Investment and cost of Capital

4.2 Model of Adjustment with Adjustment Cost

4.3 Tobin’s ‘q’ model of Investment

4.4 Uncertainty and Investment

4.5 Financial Market Imperfection and Investment

Topic 5: Rational Expectations and Economic Policy

5.1 Some Facts about Economic Fluctuations
5.2 Theories of fluctuations
5.3 Baseline in Real Business Cycle Model
5.4 Household Behavior
5.5 Empirical applications
5.6 Policy Imperfection with rational Expectation
Topic 6: Unemployment
a. The Generic Efficiency wages
b. The Shapiro-Stieglitz model
c. The Implicit Contracts
d. Search Matching Model
Topic 7: Macroeconomics Policies
7.1 Inflation and Monetary Policy
7.2 Budget Deficit and Fiscal Policy
Topic 8: Theory of Economic Growth
8.1 The Solow Growth Model
8.2 Ramsey–Cass–Koopmans and Diamond Models
8.3 The Endogenous Growth Model
8.4 Policies to Promote Growth

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 MSc Curriculum for Agricultural Economics

Mode of Delivery
Being a graduate course, delivery will combine both lectures and seminars. Students will be
required to select topics for which they present and write terms papers as well as having regular
lectures on each topic. The specific teaching aids required are overhead projectors and white boards
for presentation of material. The course shall carry a total of 3 credit hours. Each week students will
devote a minimum of 3 contact hours to this course. In addition, the students shall also do some
independent work, which will be 9 hours of work.

Assessment Methods
Assessment shall be by combination a term paper and two assignments. There will also be a final
examination whose weight will be 40% of the total assessment. The distribution of the rest of the 60
percent of the continuous assessment shall be, 20 percent each for two separate assignments and 20
percent for term paper. The timing of each assessment is left to the individual lecturer so as to
maintain some flexibility.

Course Materials
Recommended Textbooks
 Romer, D. (2012), Advanced Macroeconomics, 4th Ed. New York: McGraw Hill. *
 Heijdra J., (2009), Foundations of Modern Macroeconomics
 Branson, William H. (1989) Macroeconomic Theory and Policy, 3rd Harper & Row,
Publishers, New York, Chaps 2, 3, 4 and 5*.
 Olsson O., 2010 .Advanced Macroeconomic Theory

 Rode S., 2012. Advanced Macroeconomics

 Diulio A. 2006. Macroeconomics. 4th Ed. Schaums’ Outlines.

 Jones, Charles I. Introduction to Economic Growth

Further Readings
 A. Hanson (1953) A Guide to Keynes, New York: McGraw- Hill.
 A.C Pigou (1943)’ The Classical Stationary State ‘ Economic Journal, 53, December*
 Adepoju, A. (Ed.). The Impact of Structural Adjustment on the Population of Africa.
London: Great Britain by Villiers Publications. 1993.

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 MSc Curriculum for Agricultural Economics

 Agenor, Paul and P.J. Montiel (2000), Development Macroeconomics, Princeton University
Press.
 Agenor, P-R. (1990) “Stabilisation Policies in Developing Countries with a Parallel Market
for Foreign Exchange: A Formal Framework” IMF Staff Papers, September.
 Aghion, P. and P. Howitt, Endogenous Growth Theory. Cambridge: MIT Press.
 Alberto Arce (2003): ‘Value Contestations in Development Interventions: Community
Development and Sustainable Livelihoods approaches’, Community Development
Journal 38: 199-212
 Alchian, A. (1955) “The Rate of Interest, Fisher’s rate of return over Costs and Keynes’
Internal Rate of Return” American Economic Review, December*

AgEc 6025 Environment & Natural Resource Economics

Classification: Elective Number of credits: 3

Course Description

This course covers different topics like definition and concept, inter-linkage between the
environment and the economy; property right and externality, economics of pollution. It also deals
with allocation of renewable resources and non-renewable resources (Exhaustible resources) and
economic valuations of environmental and natural resources, sustainable development, natural
resource and economic growth.

This course provides an intermediate analysis of Environment and Natural Resource Management
as a basis for more advanced courses in special Environmental and Natural Resource Economics
topics. The course provides students with an understanding of the different approaches to the
management of environment and natural resource systems and the limitations of the different
approaches. It looks at management options in terms of their ability to restore, mitigate or remediate
impacts on ecological systems. The course examines environmental concerns on local to global
scales and short to long time scales, using specific environmental problems and their management
as examples.

Course Objectives
The objectives of the course are to:

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 MSc Curriculum for Agricultural Economics

 Introduce students to the basis of environmental management using some of the major issues,
which threaten the environment today (global warming, water pollution etc.);
 Examine the main tools and techniques that have been developed to assess environmental
problems and formulate appropriate strategies; and
 Consider the key economic, political and social factors that come together to affect the
environmental decision-making process.
Expected Learning Outcomes
At the end of the course, the students will:
 Have a profound understanding of Environmental and Natural Resource Management and be
able to construct good deductive arguments about causal relations;
 Demonstrate an understanding of the underlying science behind many of today’s environmental
problems and an awareness of the measures needed for remediation;
 Be knowledgeable and able to apply the tools used by environmental managers; and
 Write concise and effective environmental policy briefing documents.
Prerequisites
The pre-requisites for this course should in principle be fully satisfied by the core courses of
Macroeconomics, Microeconomics and Quantitative Methods at the masters’ level. Some
grounding in the basic concepts of Ecology would be desirable.
Course content
Topic 1: An introduction to natural resource and environmental economics
1.1 Three themes
1.2 The emergence of resource and environmental economics
1.3 Fundamental issues in the economic approach to resource and environmental issue
Topic 2: The origins of the sustainability problem
2.1 Economy-environment interdependence
2.2 The drivers of environmental impact
2.3 Poverty and inequality
2.4 Limits to growth?
2.5 The pursuit of sustainable development
Topic 3: Ethics, economics and the environment
3.1 Naturalist moral philosophies
3.2 Libertarian moral philosophy

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 MSc Curriculum for Agricultural Economics

3.3 Utilitarianism
3.4 Criticisms of utilitarianism
3.5 Intertemporal distribution
Topic 4: The efficient and optimal use of natural resources
4.1 A simple optimal resource depletion model
4.1.1 The economy and its production function
4.1.2 Is the natural resource essential?
4.1.3 What is the elasticity of substitution between K and R
4.1.4 Resource substitutability and the consequences of increasing resource
scarcity
4.1.5 The social welfare function and an optimal allocation of natural resources
4.2 Extending the model to incorporate extraction costs and renewable resources
4.2.1 The optimal solution to the resource depletion model incorporating extraction
costs
4.2.2 Generalization to renewable resources
4.2.3 Complications
4.2.4 A numerical application: oil extraction and global optimal consumption
Topic 5: The theory of optimal resource extraction: non-renewable resources
5.1 A non-renewable resource two-period model
5.2 A non-renewable resource multi-period model
5.3 Non-renewable resource extraction in perfectly competitive markets
5.4 Resource extraction in a monopolistic market
5.5 A comparison of competitive and monopolistic extraction programmes
5.6 Extensions of the multi-period model of non-renewable resource depletion
5.7 The introduction of taxation/subsidies
5.8 The resource depletion model: some extensions and further issues
5.9 Do resource prices actually follow the Hotelling rule?
5.10 Natural resource scarcity
Topic 6: Economic Theory of Allocating Stock and Flow Resources
6.1 Normative criteria for decision making, static efficiency, dynamic efficiency and sustainability
6.2 Allocation of renewable and depletable resources
6.2.1 Fishery

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 MSc Curriculum for Agricultural Economics

6.2.2 Forestry
6.2.3 Water
6.2.4 Wild Life and Range lands
Topic 7: Land Use, Land Markets, Land Policy and Soil Erosion
7.1 Land use and land value
7.1.1 Land tenure and markets
7.1.2 The concept of economic rent—homogeneous land; heterogeneous land
7.1.3 The role of market structure and property rights in determining land rent
7.1.4 Location and land value
7.1.5 Efficient land use with competing uses
7.1.6 Transportation costs and land rent
7.1.7 Capital gains
7.2 Land use policy
7.2.1 Land use policy tools: Land law, the police power and taxation
7.2.2 Some modern innovative suggestions for land use policy [seminar]
7.3 Soil erosion and ecosystem management
7.3.1 Sustainable soil management
7.3.2 Soil erosion (forest / grassland conversion to arable)
7.3.3 Soil management for improved soil structure
7.3.4 Reduced erosion and soil nutrients
7.3.5 Restoration of soil ecosystems.

Mode of Delivery
The course will be conducted in a series of in-class instruction sessions, practicals and in depth case
study analysis in groups in support of analytical and quantitative skills for applying environmental
and resource management techniques. The course is allocated 45 hours. These are divided as
follows:
Assessment Method
Evaluation will be based on three elements: final examination, written assignments and an
environmental and natural resource management issues paper/term paper.

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 MSc Curriculum for Agricultural Economics

Written Assignments: Students will be provided with weekly assignments that they will work on
independently and in groups and submit for grading.

Environmental Management Issues Paper: This is a longer, more research-orientated paper (i.e.
the paper should reflect a student’s own original thinking about the issue from an environmental
management perspective). The goal of this paper is to have student’s study in depth an
environmental and natural resource management problem. Students will summarize all of the issues
that motivate the problem, and then propose a solution (or solutions) to the problem, based on
something that has been learnt in this course. For example, in controlling pollution of a large
African city, a student might recommend that a transferable emissions permits program or a
combination tax/subsidy program be established. The student would then briefly describe how the
control program would actually work. The due date for this paper is ideally the final week of class
and its length should not exceed 15 double spaced pages.
Examination: There will be a final supervised examination consisting of questions drawn from
lectures and readings of the course.
The weighting of each component in the final mark is as follows:
 Written Assignments 20%
 seminar 20%
 Term Paper/Project 20%
 Final Examination 40%

Course Materials
Recommended Textbooks
 Perman, Roger, Yue Ma, James McGilvray, Michael Common (2003). Natural Resources
and Environmental Economics. 3rd ed. Harlow, UK: Pearson Education
 Pearce and Turner 1990: Economics of Natural Resources and the Environment.
 Anderson,D.A(2010). Environmental Economics and Natural Resource Management, 3rd Edition

 Conrad, J.M (2010). Resource Economics, 2nd Edition Cornell University

 Griffin R.C(2006) Water Resource Economics: The Analysis of Scarcity, Policies, and Projects, The MIT

Press, Cambridge, Massachusetts, London, England

 Hussen A.M (2004) Principles of Environmental Economics, 2nd edition

 Tietenberg T, and Lewis L.(2012) Environmental & Natural Resource Economics, 9th Edition

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 MSc Curriculum for Agricultural Economics

Further Readings
 Barrow C.J. (1999), Environmental Management: Principles and Practice, Routledge.
 Bolund, P. and Hunhammar, S. (1999) Ecosystem Services in Urban Areas. Ecological
Economics 29 (2): 293 –301
 Brimblecombe, P. and Maynard, R.L. (2001), The Urban Atmosphere and its Effects,
Imperial College, London.
 Canter, L.W. (1986). Environmental Impacts of Environmental Production Activities. Lewis
Publishers, Michigan.
 Carlson, G., Zilberman, D. and Miranowski, J. (1993) Agricultural and Resource
Economics. New York: Oxford University Press
 Chris Maser, 1999. Ecological Diversity in Sustainable Development: The Vital and
Forgotten Dimensions, Lewis Publishers, London
 Edward B. Barbier, 2007. Natural Resources and Economic Development, Cambridge
University Press, New York.
 Foley G. (1992), The Energy Question, Penguin
 Nick Hanley, Jason F. Shogren & Ben White, 2004. Introduction to Environmental
Economics, Oxford University Press, New Delhi
 Robert Costanza (ed.),1991. Ecological Economics: The Science and Management of
Sustainability, Columbia University Press, New York

AgEc 6023: Institutional Economics

Classification: Elective Number of Credits: 3
Course Description:

A school of economics that emphasizes the importance of nonmarket factors (as social institutions)
in influencing economic behavior, economic analysis being subordinated to consideration of
sociological factors, history, and institutional development.

Course Objectives
The general purpose of the course is to enable students understand how institutions are emerged and
interaction among economic agents affected by them. The specific objectives are as follows:

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 MSc Curriculum for Agricultural Economics

 To equip the students with basic concept of institution and various theories in dealing with
economic problems related to natural resource and environment;
 To assist the students to apply economics tools for analysis of institutions; and
 To provide a framework for enabling the students to see broader perspectives apart from
Neoclassical economics concerning deriving force for actions of economic agents and
means of maximizing their incentives.
I) Expected Learning Outcomes
At the end of the course, the student will be able to:
 Explain basic concepts of institutions and institutional economics and compare and contrast
the Neoclassical Economics and New Institutional Economics
 Compare the different theories of institutional change with specific reference to their origin ,
focus and applicability;
 Explain alternative frameworks of institutional and be familiar with the use of game theory
as a tool in institutional analysis;
 Clarify the theories of property rights and how property rights influence economic activities
; and
 Discuss transaction costs and link between transaction cost and contract
II) Course content
Topic 1: Basic Concepts of Institutions and Institutional Economics
1.1. Basic concepts: definition, classification, functions of institutions
1.2 .The need for non-market institutions
1.3 .Institutionalism ancient, old, and new
1.4 .Understanding the relationship between institutions and economic development
Topic 2: Informal Norms and Formal Laws
2.1. Social Capital and Collective Action, Theories and Practices
-The Concept of Social Capital
-Theories of Collective Actions
-The role Social Capital in Collective actions (case examples)
-Other Determinants of Collective Action (case example)
2.2. The rule of law, legal traditions, and economic growth
2.3. Property, politics, and development trajectories
2.4. Property rights and institutional change

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 MSc Curriculum for Agricultural Economics

2.5. The interrelationship between legal and economic processes

Topic 3: Transaction Cost Economics
3.1. Neoclassical economics Vs Transaction cost Economics
3.2. What transaction costs are and reasons for their existence(opportunism. Moral hazard,
information asymmetry and Principal agent theory)
3.3. Classification of Transaction Costs
3.4. Determinants of Transaction Costs
3.5. Measuring Transaction Costs
3.6. Transaction costs and Contracts
-Contract as Absolute Property Right
-Bounded Rationality and Contractual Incompleteness
-The Role of Contracts in Minimizing Transaction Costs (an Example)
Topic 4: Evolution of Particular Institutions
4.1. Efficient and inefficient institutions
4.2. Institutions and Political Economy
4.3. Modern bureaucracy
4.4. The Performance and Stability of Federalism: An Institutional Perspective
4.5. Corporate governance, innovative enterprise, and economic development
Topic 5: “New” Institutional Economics
5.1. The problem of social cost and externalities
5.2. Transaction cost analysis
5.3. Theory of property rights
5.4. Theory of Contracts
Topic 6: Markets, Firms and State
6.1. Market as organization
6.2. Market organization as a result of market cooperation
6.3. Incentive and limits to integrate
6.4. Institutional models in the tradition of the neoclassical theory of the State
6.5. Role of political institutions
Unit 7: Institutional Change
7.1. Nature of Institutional change (spontaneous Vs non spontaneous emergence)

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 MSc Curriculum for Agricultural Economics

7.2. Theories of Institutional Change (The efficiency theory, Distributive bargaining theory
and Political-economy theory)
7.3. Regulation in a dynamic setting
7.4. Regulating natural resources
7.5. The politics of institutional change in a representative democracy
7.6. State failure in weak states
7.7. Rational individuals versus social dilemmas
Topic 8: Institutional Performance and Economic Development
8.1. Institutional Explanations of Underdevelopment
8.2. Institution that Support Development
8.3. Institution and Economics on Foreign Aid
Unit 9: Some Country Experiences
9.1. State formation and the construction of institutions for the first industrial nation
9.2. Development strategies and institutions in Taiwan and China
9.3. Institutional innovation in Brazil
9.4. Developmental nationalism and economic performance in Africa
III) Modes of Delivery
Being a graduate course, delivery will combine both lectures and seminars. Students will be
required to select topics for which they present and write terms papers as well as having regular
lectures on each topic. The specific teaching aids required are overhead projectors and white boards
for presentation of material. The course shall carry a total of 3 credit hours. Each week students will
devote a minimum of 3 contact hours to this course. In addition, the students shall also do some
independent work, which will be 9 hours of work.

IV) Assessment Methods

This will be through assignment (20%), term paper (20%), seminar/project (20%) and final
examination (40%).

V) Course Materials

References
 Chang, Ha-Joon (ed.) (2007). Institutional Change and Economic Development, United Nations
University Press.

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 37
 MSc Curriculum for Agricultural Economics

 Eggertson Thr. (1990) .Institutions and Economic Behavior. Cambridge, Cambridge University
Press.
 Furubotn E., Richter R.( 1997) Institutions and Economic Theory. Ann Arbor. The
University of Vichigan Press.
 Hariss, J., Hunter, J. and Lewis, C.M. (eds.) (1995). The New Institutional Economic and
Third World Development, Routledge.
 Нart O. Firms(1995) Contracts and Financial Structure. Oxford,Clarendon Press Ménard,
Claude and Shirley, Mary M. (eds.) (2008). Handbook of New Institutional economics,
Springer.
 Milgrom P., Roberts J.( 1992) Economics, Organization and Management. – Prentice-Hall
Int.
 North, D. (1990). Institutions, Institutional Change and Economic Performance, Cambridge
University Press.
 Odintsova(2008) M.I. Institutional economics. Textbook. Moscow, SU-HSE
 Rutherford, Malcolm (1994). Institutions in economics: The old and the new
institutionalism, Cambridge University Press.
 Williamson O. (1985) The Economic Institutions of Capitalism. The Free Press, N.Y.
 Williamson, O.(2008 )Transaction Cost Economics.In:C.Menrad and M.M. Shirley(eds)
Handbook of New Institutional Economics, Springer Verlag:Berln

Further Readings Material

 Aggrawal, A.(2001) Common Property Institutions and Sustainable Governance of
Resources.World Deveopment, 29(10) 1649-1672.
 Bardhan,Pranab(1989).The Institutional Economics and Development Theory:A Brief
Critical Assessment.World Development17(9),1389-1395.
 Bolton,G.E, and Ockenfels,A.(2000). A theory of equity, reciprocity, and
Competition.American Economic Review 90,166-93.
 Eggersson,Thrainn(1997).The Old Theory of Economic Policy and the New
Institutionalism. World Development 25(8), 1187-1203
 Knight, Jack(1992).Institutions and Social Conflict. Cambridge: Cambridge University
Press
 McCann, L.,Colby, B.,Easter,K.W.,Kastrine, A.,Kuperan, K.V.(2005).Transaction Cost
Measurement of Environmental Policies. Ecological Economics 52:527-542
 Norht, Douglas(1989).Institution and Economic Growth: A Historical Introduction, World
Development 17(9),1319-1332.
 Ostrom, Elinor(1990).Governing the Commons:The Evolution of Institutions for Collective
Action.Cambridge: Cambridge University Press.
 Schmid,A.(2004).Conflict and Cooperation: Institutional and Behavioral Economics.
Blackwell Publishing
 Scott,A.(2008).The Evolution of Property Rights. Oxford University Press.
 Shirley, M.M. (2008).Institutions and Development, Edwards Edgar, Cheltenham,
UK,NorthamptonmMA,USA

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 38
 MSc Curriculum for Agricultural Economics

 Smith H.E.(2002).Exclusion Vs Governance:Two Strategies of Delineating Property Rights,

Journal of Legal Studies, vol 31

AgEc 6021: Production Economics and farm Management

Classification: Compulsory Number of Credits: 3

Course Description: Farm management is the collective term for various management strategies
and methods that are employed to keep a farm productive and profitable. Farming is just as much
about management as it is about animal or crop production. So, various economic principles and
business management concepts which are involved in the decision-making process when organizing
and operating a farming/ranching operation. Includes production economics, record keeping
systems, financial budgets and analysis, crop and livestock enterprise analysis, leasing
arrangements, depreciation, farm business organizations, farm investment analysis,
pasture/rangeland management, and production efficiency indicators.

Prerequisites: Students enrolled for this course are expected to have acquired competence in
undergraduate Microeconomics and Mathematics. In Microeconomics, mastery up to the
intermediate undergraduate level is expected. In Mathematics, students are expected to have a
working knowledge of Algebra, Analytic Geometry, and Differential Calculus.

Course Objectives
To expose the students to the concept, significance and uses of agricultural production economics.
The course will help the students in applying the important theories of production at broader level
of agricultural economics.
 Construct and use crop and livestock enterprise budgets for forward planning.
 Use time value of money concepts in investment decisions.
 Make better decisions in the presence of risk and uncertainty.
 Understand and use modeling techniques (e.g. linear programming) for decisionmaking.
 Use financial analysis for farm and ranch business decisions.
 Utilize Excel for analysis of the farm operation.
 Use and interpret results of computer software in farm planning and decision making.

Course Content

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 MSc Curriculum for Agricultural Economics

Topic 1: Agricultural Production process

Relationship between farm planning and production economics- scope of agricultural production
and planning methods / procedures in agricultural economic research and planning.

Topic 2: Production functions, components, assumptions, properties and their economic

interpretation
Concepts of homogeneity, homotheticity, APP, MPP, elasticities of substitution and their economic
relevance–Production relations– optimality-Commonly used functional forms, nature, properties,
limitations, estimation and interpretation -linear, Spillman Cobb Douglas, Quadratic, multiplicative
(power) functional forms, Translog, and Transcendental functional forms CES, production
functional forms- Conceptual and empirical issues in specification, estimation and application of
production functions-Analytical approaches to economic optimum - Economic optimum–
determination of economic optimum with constant and varying input and output prices-Economic
optimum with production function analysis-input use behaviour.

Topic 3: Decision making with multiple inputs and outputs:

MRT and product relationship-cost of production and adjustment in output prices- single input and
multiple product decisions-Multi input, and multi product production decisions Decision making
with no risk Cost of wrong decisions-Cost curves– Principles and importance of duality theory-
Correspondence of production, cost, and profit functions-Principles and derivation of demand and
supply functions .
Topic 4: Technology, input use and factor shares
Effect of technology on input use Decomposition analysis factor shares estimation methods-
Economic efficiency in agricultural production–technical, allocative and economic efficiency –
measurement -Yield gaps analysis–concepts and measurement. Risk and uncertainty in agriculture–
incorporation of risk and uncertainty in decision making–risk and uncertainty and input use level-
risk programming.

Topic 5: Economic Concepts and Decision Making:

is an opportunity to think more about the economic resources needed to operate a business: Cost
concepts ( fixed, variable, cash, non-cash, opportunity); Marginality ; Opportunity Costs;
Accounting versus Economic Profit ; Production vs. Profit Maximization .Managing Your Farm
Business Organization ;Managing Risk and Uncertainty ; and Managing Income Taxes

Topic 6: Budgeting for Greater Profit :

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 MSc Curriculum for Agricultural Economics

Enterprise Budgets ( Shutdown Condition over Break-even Analysis ); Partial Budgets ; Cash
Flow Budgets ; Whole-Farm Budgets ; Whole-Farm Budgets

Topic 8: financial goals in decision making.

We will review financial statements and several related concepts: accounting profit, depreciation,
financial analysis and opportunity cost. The discussion will then turn to analyzing the financial
implications of decisions. This discussion will address production theory and the concept of
diminishing marginal productivity and the analytical tools of enterprise analysis and partial budget
analysis. The last topics of this section are present value, cash flow, and risk.
Modes of Delivery
Being a graduate course, delivery will combine both lectures and seminars. Students will be
required to select topics for which they present and write terms papers as well as having regular
lectures on each topic. The specific teaching aids required are overhead projectors and white boards
for presentation of material. The course shall carry a total of 3 credit hours. Each week students will
devote a minimum of 3 contact hours to this course. In addition, the students shall also do some
independent work, which will be 9 hours of work.

Assessment Methods
This will be through assignment (20%), term paper (20%), seminar/project (20%) and final
examination (40%).
.
Recommended Text Books
 Beatie, B. R. Taylor, C. R., and Myles, W.J. 2009. The Economics of Production. Krieger
Publishing Company, New York.
 Debertin, D.L 1986. Agricultural Production Economics. McMillan Publishing Company, New
York.
 Dillon, J.L. & J.R. Anderson. 1990.The Analysis of Response In Crop and Livestock
Production, Pergamon Press, Oxford,
 Doll, J.P. and Orazem, F. 1992. Production Economics: Theory with Applications, Second
Edition, Krieger Publishing Company, New York.
 Heady, E.O. and Dillon, J.L. 1969. Agricultural production Functions. Iowa State University
Press, Ames, Iowa,
 Rosegger, G. 1996.The Economics of Production & Innovation, Butterworth-Heinemann Ltd.
Oxford,
 Palanisami KP, Paramasivam & Ranganathan CR. 2002. Agricultural Production Economics
Analytical Methods and Applications. Associated Publishing Co.
References of Books:

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 41
 MSc Curriculum for Agricultural Economics

1. Castle, E.N. and Becker M.H. (1995). Farm Business Management: The Decision Making
Process, The Macmillian Company, New York.
2. Efferson, J. Norman., (1953): Principles of Farm Managemnet, Mcgraw-Hill Book
company, Inc., new York.
3. Forster, G.W., (1953): Farm Organization and Management, Prentice-Hall, Inc., New York.
4. Johl, S.S. and Kapur, R.R.(1987): Fundamentals of Farm Business Management, Kalyani
Publishers, Ludhiana.
5. Kahlon, A.S. and Singh, Karan, (1980): Economics of Farm Management in India. Allied
Publishers,Private Ltd., New Delhi.
6. Sankhayan, P.L.(1983): Introduction to Farm Management, Tata Mcgraw-Hill Publishing
company Ltd. New Delhi
AgEc 6022: Agricultural Marketing and Value Chain Management
Classification: Compulsory Number of Credits: 3
Course Description
The course deals about definition of marketing; marketing performance analysis; special and inter-
temporal market integration; agricultural commercialization and value chain; value chain
development and forms of chain development; and strategies for chain empowerment.

Course Objectives
To impart adequate knowledge and analytical skills in the field of agricultural marketing issues, to
enhance expertise in improving the performance of the marketing institutions and the players in
marketing of agricultural commodities and concepts and principles of value chain to diagnose
sustainable value chains and identify the best intervention strategies. It also aims at discerning the
functions and relationships among actors to build robust value chain systems.

Prerequisites
Students enrolled for this course are expected to have acquired competence in undergraduate
Microeconomics and Mathematics. In Microeconomics, mastery up to the intermediate
undergraduate level is expected. In Mathematics, students are expected to have a working
knowledge of Algebra, Analytic Geometry, and Differential Calculus.
Course Content
Topic 1: Introduction
1.1 Review of Concepts in Agricultural Marketing
1.2 Characteristic of Agricultural product

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 MSc Curriculum for Agricultural Economics

1.3 Production – Problems in Agricultural Marketing from Demand and Supply and
Institutions sides.
1.4 Market intermediaries and their role - Need for regulation in the present context
1.5 Marketable & Marketed surplus estimation. Marketing Efficiency - Structure Conduct and
Performance analysis - Vertical and Horizontal integration - Integration over space, time
and form-Vertical coordination.
Topic 2: Marketing Co-operative
2.1 Marketing Co-operatives Regulated Markets - Direct marketing, Contract farming and
Retailing Supply Chain Management - State trading, Warehousing and other
Government agencies
2.2 Performance and Strategies – Market infrastructure needs, performance and Government
role.
Topic 3: Agricultural price behavior, grade, temporal, spatial considerations,
3.1 Spatial and temporal price relationship – price forecasting – time series analysis – time
series models – spectral analysis.
3.2 Price policy and economic development – non-price instruments.
Topic 4: Storage Management
4.1 Theory of storage – Introduction to Commodities markets and future trading
4.2 Basics of commodity futures – Operation Mechanism of Commodity markets
4.3 Price discovery - Hedging and Basis – Fundamental analysis - Technical Analysis
4.4 Role of Government in promoting commodity trading and regulatory measures.
Topic 5: The Value Chain Approach: Concepts, Importance, and Principles
5.1 Concepts of Value Chain
5.2 Historic development of value chain analysis
5.3 Underlying Assumptions and Importance of Value Chain Approach
5.4 Principles of Value Chain Approach in Agriculture
5.5 Characteristics of Value Chain Approach
5.6 Dimensions of Value Chain
Topic 6: Porter’s Structure Conduct Performance (SCP) Value Chain Analysis Framework
6.1 Approaches of Value Chain Analysis Framework
6.2 SCP value chain analysis framework
- Value Chain (Market) Structure analysis

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 MSc Curriculum for Agricultural Economics

- Value chain (Market) Conduct

- Value chain (Market) performance
Topic 7: Value Chain Analysis
7.1 Steps in Value Chain Analysis
7.2 Horizontal and Vertical Linkages in the Value Chain Concept
7.3 Gender Issues in Value Chain Analysis
Topic 8: Enabling Environment for Value Chain Development
8.1 Business Environment & Policy Assistance
8.2 Enabling Institutional Support for Chain Development
8.3 Improving Access to Business Development Services
Topic 9: Value Chain Governance and Business Ethics􀁸 Chain Governance
9.1 Social and Environmental Standards
9.2 Safety and Quality Assurance Along the Value Chain
9.3 Business Law and Ethics
Topic 10: Value Chain Development: Challenges, Opportunities and Intervention Strategies
10.1 Approaches to Identify Challenges and Opportunities in the Value Chain
10.2 Steps in Value Chain Development
10.3 Identifying Leverage Points from Constraints and Opportunities Value chain
interventions and implementation
Topic11: Value Chain and agricultural development in Ethiopia
11.1 Characteristics of agricultural production and marketing in Ethiopia
11.2 Agricultural Value chain development opportunities in Ethiopia
.
Mode of Delivery
Being a graduate course, delivery will combine both lectures and seminars. Students will be
required to select topics for which they present and write terms papers as well as having regular
lectures on each topic. The specific teaching aids required are overhead projectors and white boards
for presentation of material. The course shall carry a total of 3 credit hours. Each week students will
devote a minimum of 3 contact hours to this course. In addition, the students shall also do some
independent work, which will be 9 hours of work.
Assessment Methods

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 44
 MSc Curriculum for Agricultural Economics

Assessment shall be by a term paper and two assignments. There will also be a final examination
whose weight will be 40% of the total assessment. The distribution of the rest of the 60 percent of
the continuous assessment shall be, 20 percent each for two assignments and 20 percent for term
paper. The timing of each assessment is left to the individual lecturer so as to maintain some
flexibility.
Course Materials
Recommended Text Books

 Alberta. 2002. Value Chain Hand Book: New Strategies to create more rewarding positions
in the market place. AFCA, Edmonton.
 Alberta. 2004. Value Chain Guide Book: A process for Value Chain Development. AFCA,
Edmonton.
 Altenburg, T., 2006. The Rise of Value Chain Governance and its Implications for
UNIDO’s Development Policy, presentation on behalf of the German Development
Institute, Bonn.
 Cherumilam, Francis (1999): International Economics. Tata McGraw Hill, New Delhi.
 Danida, 2010. Gender and Value Chain Development, the Danish Institute for international
studies (DIIS). Strandgade 56, 1401 Copenhagen K, Denmark.
 Daniel Roduner, LBL /2005, Value-Chains: What is behind this ‚new’ key word? And what
is the role of development agencies in value chain development in developing countries?
Rural Development News (http://www.docstoc.com/docs/42408124/Value-Chains)
 Gherzi research, 2005. Value Chain Analysis and Strategy Outline for Textile and Garment
Industry, report prepared on behalf of UNIDO Investment and Technology Promotion
Branch, Vienna, Austria, 2005.
 Hardwick, T. and John K. 2010. Quantitative Value Chain Analysis: An Application to
Malawi. The World Bank Policy Research Working Paper 5242.
 John H. 2005. Shaping Value Chains for Development: Global Value Chains in
Agribusiness. Eschborn, GTZ.
 Mado, Toshiro. 2009. Value Chain Analysis for Developing Rural Agri-Bussiness: Case
Studies in Ethiopia. Proceedings of the Seminar on Value Chain Analysis held in Addisd
Ababa, Ethiopia, November 2009, Published by the Sasakawa Africa Association (SAA),
Addis Ababa, Ethiopia.

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 MSc Curriculum for Agricultural Economics

 Purecell WD & Koontz SR. 1999. Agricultural Futures and Options: Principles and
Strategies. 2nd Ed. Prentice-Hall.
 Rhodes VJ. 1978. The Agricultural Marketing System. Grid Publ., Ohio.
 Shepherd SG & Gene AF. 1982. Marketing Farm Products. Iowa State Univ. Press.
 Singhal AK. 1986. Agricultural Marketing in India. Annual Publ., New Delhi.
 United Nations Industrial Development Organization. 2009. Agro-value chain analysis and
development the UNIDO approach, Vienna
(http://www.unido.org/fileadmin/user_media/Publications/Pub_free/Agro_value_chain_anal
ysis_and_development.pdf
 Walterjngo and Areskoug, Kaaj(1981): International Economics, 3rd Edition,
 Wilfred J.Ethier (1995): Modern International Economics , Norton International Edition

AgEc 6023: International Trade

Classification: compulsory Credit Hour: 2
Course Description
This course introduces students to the global economy and emphasizes the significance and
implications of government policies for trade and foreign direct investment. Specifically, students
will learn about various trade and investment theories and develop an intuitive understanding of the
theoretical foundations of the economics of international agricultural trade. Furthermore, the course
would familiarize students with current issues and empirical methods used in the analysis of trade
policies.
Objectives:
 To develop an intuitive understanding of the theoretical foundations of the economics of trade.
 To introduce students to the role of government and institutions in setting agricultural trade
policy.
 To familiarize students with current research issues and empirical modeling approaches in
international trade and investment.

Topic 1: Importance and Bases of Trade

1.1 Why Study International Economics?
1.2 The Changing World and Interdependence: Basis of Trade, Gains from Trade.

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 MSc Curriculum for Agricultural Economics

1.3 Absolute Advantage, Comparative Advantage, Overview of Comparative Advantage and

Pattern of Trade. Offer Curves and Free Trade Equilibrium. Disagreements on Free Trade:
1.4 Overview of Emergency of International Trade Issues.
1.5 The Elasticity of Exports Demand and Balance of Payment. Substitution and Income
Effects, Impacts of Rise in Exports Demand.
Topic 2. Growth and Trade
2.1 International Trade and Shift in Production Function, Immerizing Growth, Output Growth
and Terms of Trade (T.O.T) / Deterioration: Uniform Growth at given T.O.T.
2.2 The Transfer Problem: Marshall Plan and Transfers, Transfer of Resources: Neutral Case.
Topic 3. Technology and Factor Endowment
3.1 Ricardian Trade Model, World Production and Gains. Comparative Cost and Trade Pattern.
National and World Gains from Trade.
3.2 International Wage differentials and Productivity.
3.3 Technical Progress and International Gains.
3.4 WTO and Gains from Technical Progress: Impacts on Prices.
3.5 Equilibrium Production and Consumption: Non-traded and Tradeables, Costs, Marginal
Physical Product and Production Possibilities.
3.6 Production Possibilities with Diminishing Returns, Increasing Opportunity Cost.
3.7 Free Trade and Income Distribution, Relative Demand, Supply and Pattern of Trade.
3.8 Dutch Disease and its application.
Topic 4. Factor Endowment and Heckscher – Ohlin Theory
4.1 Output and Factors Rewards in 2*2 Model. Factor Intensity Comparison.
4.2 Heckscher- Ohlin (H.O) Model, The Role of Demand, Factor’s Prices and Commodity
Prices, Factor Price Equalization, and Factor Intensity Reversal.
4.3 Newly Industrializing Countries (NIC’s) and Footloose Production Process.
4.4 NIC’s and H.O Theorem. The Product Cycle, Critical Analysis of Traditional Trade
Theories.
Topic 5. Markets, Cartels and International Trade
5.1 Product Differentiation and Monopolistic Competition.
5.2 Dumping / Discrimination and WTO, Competitiveness and Market Share, Gains from
Migration.
5.3 WTO and Factor’s Movements and the Commodity Movement.

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 MSc Curriculum for Agricultural Economics

5.4 Multinationals Firms and Foreign Direct Investment, Transfer of Capital, Technology, Skill
and other Gains, Transfer of Resources and Transfer Problem.
Topic 6. Tariff, Quota and Trade Policies
6.1 Tariff and Small Country: Effects of Tariff, Price and Demand for Imports, Welfare
impacts.
6.2 Impacts of Tariff on Government Revenue, T.O.T Production and Welfare.
6.3 Impact of Tariff on Domestic and World Welfare.
6.4 The Optimal Tariff. Tariff and Distribution of Income. Brief Introduction of Tariff and
WTO Laws, Tariff and Second Best Choice, Subsidies and Quota, Voluntary Quota, Growth
with Protection vs. Free Trade Gains and WTO.
Topic 7: Trend in agricultural trade.
7.1 Trade problems of developing countries.
7.2 Ethiopian Agricultural trade trends and development perspectives
Mode of Delivery
Being a graduate course, delivery will combine both lectures and seminars. Students will be
required to select topics for which they present and write terms papers as well as having regular
lectures on each topic. The specific teaching aids required are overhead projectors and white boards
for presentation of material. The course shall carry a total of 3 credit hours. Each week students will
devote a minimum of 3 contact hours to this course. In addition, the students shall also do some
independent work, which will be 9 hours of work.
Assessment Methods
Assessment shall be by a term paper and two assignments. There will also be a final examination
whose weight will be 50% of the total assessment. The distribution of the rest of the 50 percent of
the continuous assessment shall be, 20 percent for test and assignments and 30 percent for term
paper. The timing of each assessment is left to the individual lecturer so as to maintain some
flexibility.
Course Materials
Recommended Text Books
 Cherumilam, Francis (1999): International Economics. Tata McGraw Hill, New Delhi.
 Walterjngo and Areskoug, Kaaj(1981): International Economics, 3rd Edition,
 Wilfred J.Ethier (1995): Modern International Economics , Norton International Edition

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 MSc Curriculum for Agricultural Economics

AgEc 6024: Agricultural Project Planning and Management

Classification: Compulsory Credit Hours: 3

Course Description

It is primarily about the rationale, context, and methods of planning, appraising and evaluating
development projects and programmes. Projects and programmes are widely used when attempting
to allocate limited resources for specific development purposes as effectively as possible, and a core
part of the module is on methods for appraising the financial and economic efficiency of rural and
agricultural development projects. These methods of appraisal are informed by economic theories
and, in particular, those of applied welfare economics.

Course Objectives
The aim of the course is to provide the students with tools necessary for the appraisal of investment
projects. The course will also familiarize the students with case studies which demonstrate the use
of these techniques in practice. The Project concept, Principles of project planning & management,
Analysis of development projects, Project appraisal techniques (measures of project worth), Project
implementation, Monitoring, evaluation and impact assessment, Project management, Project
planning matrix.

Prerequisite: None
Course Outline
Topic I: Introduction
1.1 Project choice and national planning
1.2 Generation and Screening of Project Ideas
1.3 Technical Analysis of projects
Topic 2: Financial Statement
2.1 Financial Decisions – Investment, Financing, Liquidity and Solvency. Preparation of
financial statements - Balance Sheet, Cash Flow Statement and Profit and Loss Account
Ratio
2.2 Analysis and assessing the performance of farm/firm.
Topic 3: Agricultural finance
3.1 Project Approach in financing agriculture.
3.2 causes for agricultural loan overdue and default management;
3.3 Agricultural finance transaction costs.
3.4 Problems and prospects of rural credit and finance in Africa with special reference to Ethiopia.

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 MSc Curriculum for Agricultural Economics

Topic 4: Cost Benefit Analysis (CBA)

4.1 The rationale of cost-benefit analysis (CBA): Value judgments and CBA, Criticisms of
‘conventional CBA’, Identification of benefits and costs
4.2 The welfare foundations of cost-benefit analysis: Social appraisal in a World of identical
consumers, Cardinal Utility and cost-benefit analysis, The compensation principle, Utility
possibility curves and the potential welfare criteria , The social welfare function
4.3 Private Benefit-Cost Analysis:
 Financial Analysis: Estimation of cost of projects, estimates of sales and production –
cost of production – working capital requirement and its financing – estimates of
working results – breakeven points – projected cash flow statement – projected balance
sheet.
 Appraisal criteria: Net Present Value – benefit cost ratio – internal rate of returns –
urgency – payback period – accounting rate of returns – investment appraisal in practice.
 Project Financing: Norms and policies of financial institutions – project appraisal by
financial institutions. Menu of Financing: equity capital – internal accruals – term loans
– bonds – working capital advance – raising capital in international markets, Project
contracts.
4.4 Social Cost Benefit Analysis (SCBA)
 Efficiency Benefit-Cost Analysis
 Consumer and Producer Surplus in Benefit-Cost Analysis
 Valuing Traded and Non-traded Commodities in Benefit-Cost Analysis: Valuation of
traded goods, Valuation of non-traded goods, Valuation of non-traded in variable
supply, Valuation of non-traded in fixed supply, shadow pricing (Shadow pricing of
foreign exchange, Shadow pricing of labor, Shadow pricing of capital)
 The Social Discount Rate, Cost of Public Funds, and the Value of Information
 Weighting Net Benefits to Account for Income Distribution
 Stated preference approaches to environmental valuation
 Revealed preference methods (1): the travel cost model
 Revealed preference methods (2): hedonic pricing
 Valuing the environment: production function approaches
 Economic Impact Analysis

4.5 Writing the Benefit-Cost Analysis Report

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 MSc Curriculum for Agricultural Economics

Topic 5: Multiple Projects and Constraints

5.1 Constraints – methods of ranking – mathematical programming approach – linear programming
model. Qualitative Analysis: qualitative factors in capital budgeting – strategic aspects –
strategic planning and financial analysis – informational asymmetry and capital budgeting –
organizational considerations. Environmental appraisal of projects: types and dimensions of a
project – meaning and scope of environment – environmental resources values – environmental
impact assessment.
5.2 Choice between mutually exclusive projects of unequal life – optimal timing decision –
determination of economic life – inter-relationships between investment and financing aspects –
inflation and capital budgeting. Analysis of firm and market risk: portfolio theory and capital
budgeting – capital asset pricing model (CAPM) – CAPM and Capital budgeting.
Topic 6: Analysis of Risk

6.1 Types and measure of risk Risks in financing agriculture. Risk management strategies and
coping mechanism.
6.2 Crop Insurance programmes – review of different crop insurance schemes – yield loss and
weather based insurance and their applications.
6.3 Simple estimation of risk – sensitivity analysis – scenario analysis – simulation analysis –
decision tree analysis – selection of project – risk analysis in practice.
.
I. Modes of Delivery:
The course will be delivered through lectures, Term Papers, individual and group assignments.
II. Modes of Assessment
 Written exam which covered all portions. Exam questions could be essay type, workout,
multiple choices and others depending on the teaching approach and materials provided to
students (50%)
 Case study assignment at individual and group Level (20%)
 Term Paper and Presentation (30%)
III. References/Textbooks
Essential Reading
 Chandra, Prasanna (2009). Projects: Planning, Analysis, Financing, Implementation and
Review, 7th ed., Tata McGraw Hill.
 Larson, Erik W. and Clifford F. Gray, (2011). Project Management: The Managerial

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 MSc Curriculum for Agricultural Economics

Process, 5th ed., McGraw Hill.

Additional Reading
 Boardman, A.E., et al. (2005). Cost-Benefit Analysis: Concepts and Practice, 3rd ed.,
Pearson Education.
 Cleland, David and Lewis Ireland (2006). Project Management: Strategic Design and
Implementation, McGraw Hill.
 Cleland, David and Lewis Ireland (2007). Project Manager's Handbook: Applying Best
Practices Across Global Industries, McGraw Hill.
 Esty, Benjamin (2003). Modern Project Finance: A Casebook, John Wiley & Sons.
 Ghattas, R.G. and Sandra L. McKee (2000). Practical Project Management, Pearson
Education.
 UNIDO, Guidelines for practical project appraisal
References
 Audace I. kanshahu, 2000. Planning and Implementing Sustainable Projects in Developing
Countries, AgBe Publishing, Singapore.
 Dasgupta, P., Sen, A., and M., Stephen. Guidelines for Project Evaluation; Project
Formulation and Evaluation Series, No. 2. United Nations Industrial Development
Organization, Vienna.
 Fuguitt, D., and J., Wilcox (1999). Cost-Benefit Analysis for Public Sector Decision
Makers, Quorum Books, Westport, Connecticut.
 Hanley, N., and E. B., Barbier (2009). Pricing Nature: Cost-Benefit Analysis and
Environmental Policy, Edward Elgar, Cheltenham, UK, Northampton, MA, USA.
 IFRC, 2010. Project/Program Planning: Guidance Manual, International Federation of Red
Cross and Red Crescent Societies (available at: www.ifrd.org), Geneva.
 Jody Zall Kusek and Ray C. Rist, Ten Steps to a Result based Monitoring and Evaluation
System, World Bank
 Johansson, Per-Olov (2003). Cost-Benefit analysis of Environmental Change, Cambridge
University Press.
 Layard, R., and S. Glaister (2003). Cost-Benefit Analysis, Cambridge University Press.
 Little, I.M.D., and J. A., Mirrlees (1982). Project Appraisal and Planning for Developing
Countries. Heinemann Educational Books London.
 Mishan, E.J., and E. Quah (2007). Cost-Benefit Analysis. Rouledge Taylor & Francis Group
London & New York.
 Patrick Colin Kir & John Weiss, 1996. Cost-Benefit Analysis and Project Appraisal in
Developing Countries, Edward Elgar, UK.
 Pearce, D. W., and C. A., Nash (1981). The Social Appraisal of Projects: A text in Cost-
Benefit Analysis, The MacMillan Ltd., London.
 UNDP, 2002. Handbook on Monitoring and Evaluating for Results, UNDP Evaluation
Office
 James, C. Van Horn, (1964): Fundamentals of financial management, Printce hall of India,
New Delhi.

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 52
 MSc Curriculum for Agricultural Economics

 Kahlon, A.S. and Karan Singh, (1984): Managing Agricultural Finance : Theory and
Practice, Allied Publishers Private Ltd., new Delhi.
 Lee. F. Warren, Aaron G. Nelson and W.G. Murray, (1980): Agricultural Finance. Iowa
State University Press, Ames, Iowa.
 Pandey, U.K. (1990): An introduction to Agricultural Finance, Kalyani publishers, New
Delhi.
 Renson, (Jr.), John. B and David, A. Lins, (1980): Agricultural Finance: An Introduction to
India Pvt. Ltd., New Delhi .iopia.
 Subba Reddy, S. and P. Raghu Ram, (1996): Agricultural Finance and Management, Oxford
and IBH publishing company private Ltd., New Delhi.

AgEc 6031: Research Methods and Scientific Writing for Economists
Classification: Compulsory Number of Credits: 3

Course Description
This course explores the process of designing, implementing, disseminating and analyzing the
results of economic data. This course is about processes of obtaining, analyzing, interpreting and
reporting reliable data of the real world. It aims to encourage students to appreciate their
responsibilities to society and the scientific community as researchers. Students need to be well
versed in the ‘real life’ issues, which have to be decided in setting up and managing research
projects and how research can be used in development work. Students need to be able to balance
their academic requirements with the needs of projects and development participants. They need the
skills and adaptability to work in interdisciplinary teams and to understand what is required for their
specific discipline and the broader requirement. The course covers introduction to research,
research process, measurement scale, sampling and data collection, data analysis and interpretation,
conducting participatory research as well as the writing of research report and documentation.

I. Course Objectives
 To understand the fundamentals of research concepts
 To be familiar with different types of research design
 To become familiar with major research methods
 To gain knowledge of processing and analysis of data for inferences
 To impact the skill of preparing scientific proposal and writing scientific researches

II. Expected Learning Outcomes

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 MSc Curriculum for Agricultural Economics

At the end of the course, students will be expected to understand that every research project should
ask and answer the following questions: What is the problem/issue? Why is it important? How am I
proposing to examine it? Why is this approach appropriate? How is it grounded in the literature, and
what does it add to the literature? What did I expect to find/learn- i.e., my hypotheses/expectations?
What did I actually learn? Why is what I learned important i.e. what are the implications for further
research or for policy? Specifically, the student will:
 Acquire an understanding of the role of effective research;
 Be able to explain systematically and illustrate essential components of the research process;
 Develop skills in a range of research tools (qualitative and quantitative)
 Have a thorough grounding in the scientific approach to research;
 Appreciate the advantages, limitations and complementarily of different research
approaches and methods according to context, purpose of research and type of data required;
 Apply quantitative and qualitative data analysis techniques used to organize data into some
meaningful form;
 Be exposed to important components of the process of research management;
 Be able to undertake a postgraduate research project for their thesis.
 Students will prepare abstracts, papers and slides as well as learn about writing theses and
capstones, scientific journal articles, and grant proposals ; and
 Be capacitated with bibliographic database searching and preparation of presentations and
posters for scientific meetings.

III. Course Content

Topic 1: Introduction
 Research: types, criteria of good research, limitations & ethical issues in social research.
Scientific Research Methods, Approach and Designs (The case study, The longitudinal
study, The comparison, The longitudinal comparison, The experiment, Controlling for
influence in social science research)
Topic 2: Research Process
 Steps, Problem discovery and formulation, research proposal, Research Modeling-
Hypothesis: Types, Formulation of Hypothesis, Errors in hypothesis testing, Parametric and
Nonparametric tests.

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 MSc Curriculum for Agricultural Economics

Topic 3: Measurement in Research

 Measurement & Scaling Techniques, Scale Properties, Criteria for good measurement;
Likert’s Scale, Semantic Differential Scale, Thurstone-equal appearing interval scale, MDS –
Multi Dimensional Scaling.
Topic 4: Sampling & Data collection:
 Principles of sampling design, Types of Sampling - Probability and Non-probability
Sampling Techniques, Sample Size. Data collection: Source & Techniques. Goodness of
Data: Reliability, Validity, Generalizability, Authenticity & Trustworthiness, Bibliographic
Database Searching and Citation Management.
Topic 5: Data Analysis and Interpretation
 Analysis of Quantitative Data: Factor analysis, Correlation, Regressions, analysis of
Moderators and Moderators, t-test, ANOVA, MANOVA, Structural equation modeling and
Meta analysis.
 Analysis of Qualitative Data: Interview Approach, grounded theory and Narrative analysis,
observation method, case studies and ethnography, critical management research
 Principles of good report/thesis writing
Topic 6: Special Topic: Conducting Participatory Research
 The main ideas underlying RRA/PRA, PRA methods and techniques, Preparation for PRA,
PRA Implementation, Participation in the Analysis Process, How much participation is
appropriate, Issues in Participatory research
Topics 7: Oral presentations and Writing Research Proposal, Paper and Journals
 Writing research report and journal articles, Steps in Report Writing- format of Research
Report- documentation footnotes and Citation, references and plagiarism, Designing and
Delivering Scientific Slide presentations and Posters, Preparing a grant proposal and Some
guidelines for disseminating results in different dissemination media
IV. Mode of Delivery
 Lectures/study guide, Seminars, group discussion, proposal preparation and if possible filed
trip
Practical in data management, data analysis and reporting
 Processing the data, Describing data distributions, Measuring Relationships between
variables, Reporting the information – tabular and graphic, Reporting the information –
power point presentations

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 MSc Curriculum for Agricultural Economics

Seminars by visiting professionals (suggested topics)

 Review of national statistical sources – agricultural surveys, CSA surveys, Ongoing Local
or regional research project with particular focus on data collections tools, limitations of
data and managing the data gathering and processing
V. Assessment Methods
 Continuous assessments (20%): At least three written assignments that cover the essential
components of the research process
 Project/Term paper/Reviewing of journals/preparation of proposals – 30%
 Final Examination (50%) – which course the whole course content

VI. Course Materials

Recommended Textbooks
 Kothari, C.R. (1994) Research Methodology: Methods and Techniques, 2nd ed., Wishwa
Prakashan, New Delhi.
 Dasgupta, A.K (1968a). Methodology of Economic Research. N. Sinha Institute.
 Alreck, P.L. and Settle R.B 2004. The Survey Research Handbook. Irwin Hill. Third
Edition.
 Sophie Laws. 2003 Research for Rural Development: A Practical Guide. Sage Publications.

Further Readings
 Anandajayasekeran J. B. and Matata, K. et al Farming Systems Approach: A Handbook for
East and Southern Africa
 Babbies, E. 1989, The Practice of Social Research. Wadsworth Publishing Company
 Bulmer M and D.P. Warwick Eds. Social Research in Developing Countries
 Bulmer, M. 1982. The Use of Social Research: Social Investigation in Public Policy
Making. London: George Allen and Unwin
 Casley, D.J and Lury, D.A 1993. Data Collection in Developing Countries. Oxford
University Press.
 Chambers, Robert 1992, Principles Methods and Discoveries of PRA. In: Rural Appraisal:
Rapid Relaxed and Participatory, Institute of Development Studies Discussion Paper
No 311.
 Christine L Alfano & Alyssa J.O’Brien, ………Envision: Persuasive Writing in a Visual
World, Pearson Longman, New York.
 Jacqueline Aldridge, …….. The Research Funding Toolkit: How to Plan and Write
Successful Grant Application, Sage Publications, New Delhi
 Narayanasamy N, 2009. Participatory Rural Appraisal: Principles, Methods and
Applications, Sage Publications, New Delhi.
 Niall Ó Dochartaigh,……..Internet Research Skills, Sage Publications, New Delhi

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 56
 MSc Curriculum for Agricultural Economics

 Sharon M Ravitch and Matthew Rigan, ………..Reason & Rigor: How Conceptual
Frameworks Guide Research, Sage Publications, New Delhi

AgEc 6032: Econometrics Theory and Application

Classification: Compulsory Number of Credits: 4

I. Course Description
Social scientists are often interested in quantifying relationships between different variables. The
objective of Econometrics is thus to quantify such relationships using available data and statistical
techniques to interpret and use the resulting outcomes. So, Econometrics is the application of
statistical and mathematical methods to the analysis of economic data, with the purpose of giving
empirical content to economic theories and then verifying or refuting them. Bridging the gap
between theory and policy analysis requires acquiring the practice of applying the concepts,
theories and methods of Economics to policy analysis. This Econometrics course is designed to
meet this challenge by providing insights on how the three elements of Econometrics namely:
economic theory, mathematical economics and statistical procedures can be combined, to provide
useful information to policy analysts and decision makers. In addition, the course will give insight
the application of software packages like STATA, EVIEWS and PCGIVE.

II. Course Objectives

The objective of the course is to equip students with the knowledge and skill of econometrics and
able to read, analyze and conduct empirical investigations in the field of economics. Therefore, the
objectives of the course are to:
 Develop an understanding of the theory and application of Econometrics to quantifying
economic relationships and testing economic theories;
 Enable students to translate results from econometric analysis based on economic principles
into useful and reliable policy reasoning;
 Equip students to read, evaluate and understand empirical papers in professional journals;
and
 Provide students with practical experience of using econometric computer software to fit
economic models.
III. Expected Learning Outcomes
By the end of the course students should:

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 MSc Curriculum for Agricultural Economics

 Have a solid understanding of the classical regression model, its underlying assumptions and
the consequences of violating them;
 Understand how to specify an econometric model and conduct the necessary diagnostic and
specification tests;
 Be able to conduct their own empirical investigations and critically evaluate econometric
and other statistical evidence; and
 Understand econometric literature addressing economic issues in the region and be able to
critically review their methodology and interpretation of results
 Understand the Discrete Analysis, Time Series Analysis and Panel Data Analysis with
software application.
IV. Course Content
Topic 1: Introduction
1.1. Introduction about Econometrics
1.2. Linear Regression Models
1.2.1. Ordinary Least Squares
1.2.2. Small Sample Properties of the OLS Estimator
1.2.3. Goodness-of-fit
1.2.4. Hypothesis Testing
1.2.5. Asymptotic Properties of the OLS Estimator
1.3. Model Specification
1.3.1. Selecting the Set of Regressors
1.3.2. Specifying the Functional Form
Topic 2: Problems of Measurement, specification, estimation and their Solutions
2.1. Multicollnerity
2.2. Heteroskedasticity
2.3. Autocorrelation
2.4. Model Specification Errors
2.5. Distributed lag models and Expectations
Topic 3: Discrete Choice Model
3.1. Dummy variables
3.2. Binary Choice Models
3.3. Multi-response Models

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 MSc Curriculum for Agricultural Economics

3.4. Binary and multinomial choice models: Probit and Logit models
3.5. Truncated variables: The Tobit model
Topic 4: Time Series Analysis
5.1. Some time series models: AR and MA
5.2. Stationary versus non-stationary time series, spurious regression
5.3. Testing for non-stationary time series: Unit root test (Dickey-Fuller test)
5.4. The Box-Jenkins approach and ARMA, ARIMA and SARIMA
5.5. Predicting with ARMA Models

V. Mode of Delivery
The course aims to balance theory and hands-on experience while working with economic data. As
such, the lectures will emphasize the practical uses of econometric theory, and students will have
ample opportunity to put this to use in computer-based assignments, including a project paper. In
addition, students will select articles of their choice from professional journals for critical review
and presentation in class as a basis for discussion regarding application of econometrics in analysis
of economic problems.

 Lectures (Theory)
There will be 4 lectures per week each lasting for 60 minutes. Students will be expected to
undertake 3 hours of independent study for every 1 contact hour.

 Practical Classes
There will be 2 hour of practical class per week. Each practical class will be preceded by a
computer tutorial where the relevant commands for performing that week’s exercise will be
introduced. The course instructor will identify relevant data sets (cross-section and time-series) for
use in the practical classes: the textbook by Greene contains data sets and examples (including
computer codes). Each student will subject his/her data set to various econometric tests and write a
report.

 Computer Tutorials (SPSS, STATA)

As the course involves a considerable amount of computing, students will have to learn and use
selected econometric software packages. Two econometric software packages that are highly
recommended are SPSS, EVIEW, and STATA. The recommended packages are widely used and

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 MSc Curriculum for Agricultural Economics

are window based thus reducing the amount of programming until the user acquires sufficient
experience.

VI. Assessment Methods

The assessment criteria and their respective weights will be as follows:
 Written Continuous Assessment Tests at least two tests 20%
 Written Practical Tests/Term Paper 30%
 Written Final Examination 50%
VII. Course Materials
Recommended Textbooks
 Verbeek, M. (2008). A Guide to Modern Econometrics (3nd ed.). John Wiley and Sons
Ltd.
 Cameron A. C. & P.K Trivedi (2005). Microeconometrics:Methods and Applications,
Cambridge University Press

 Maddala G.S., 1992. Limited Dependent and Qualitative variables in Econometrics ,

Cambridge University Press

 Wooldridge J. M., 2012 (A) Econometric Analysis of Cross Section and Panel Data, The
MIT Press, Cambridge, Massachusetts, London, England

 Wooldridge J. M (2012) (B)Introductory Econometrics, A Modern Approach, 5th Edition,

Michigan State University

 W.H Green, 2012. Econometric Analysis, Pearson Education Inc.

Further Readings
 Aboagye A.Q and Kisan Gunjal. 2000. An Analysis of Short-Run Response of Export and
Domestic Agriculture in Sub-Saharan Africa. Agricultural Economics 23 (1), 41-53.
 Ainsworth, Martha, and Juan Mñoz, 1986, The Côte d’Ivoìre living standards study, LSMS
Working Paper 26, Washington, D.C. World Bank.
 Ajai S Gaur & Sanjaya S Gaur, 2009. Statistical Methods for Practice and Research; A
Guide to Data Analysis using SPSS, Response Books, New Delhi
 Alderman, Harold. 1993. “International Price Transmittal: Analysis of Food Markets in
Ghana.” Oxford Bulletin of Economics and Statistics 55: 43-64.
 Barrett C.B. 1999. The Effect of Real Exchange Rate Depreciation on Stochastic Producer
Prices in Low-Income Agriculture. Agricultural Economics 9 20 (3), 215-230.
 Barrett, C.B. 1997. Liberalization and Food Price Distributions ARCH-M Evidence from
Madagascar. Food Policy 22 (2), 155-173.
 G.S. Maddala, 1992. Introduction to Econometrics, Macmillan Publishing Company Inc.
New York

Bahir Dar University, College of Agriculture and Environmental Sciences, Agricultural Economics Department Page - 60
 MSc Curriculum for Agricultural Economics

AgEc 6033: Seminar in Agricultural Economics

Classification: Compulsory Credit Hours: 1

Course Description and Modes of Delivery

This course focuses on presentation of practical works related to agricultural economics. To this
end, the students are expected to extract, examine and present the information on the emerging
issues in the real world, through application of their theoretical knowledge. The course is associated
with preparation and presentation of term papers and thesis proposals. Besides, the students may be
expected to attend and present reports of various workshops, conferences and related events on the
issues under consideration.
I. Course objectives:
The delivery of this course has the tendency to bridge the gap between the theoretical and the real
aspects. This course is delivered to make the students to be familiar with the real aspects of the
environment and natural resource in the real world. Specifically, the course is expected;
 To help students acquire practical skill of examining multi-dimensional aspects of the
environment and natural resource in the real world
 To provide the students up-to-date information about current aspects of the environment and
natural resource
 To improve the understandings of the students about findings of empirical works related to
the environment and natural resource
 To provide the students the knowledge about the trends and emerging issues of the
environment and natural resource in the real world
II. Pre-requisite: AgEc 6031
III. Modes of Assessment
The modes of assessment include:
- Participation on various events …………………………………………… 20%
- Preparation of term paper …………………………………………………… 50 %
- Presentation of Term papers (individual and group) ……………………… 30%
Reference
 Andrade, H.G, 2005. Teaching With Rubrics: The Good, the Bad, and the Ugly. College
Teaching 53, p. 27-31.
 Reynolds, J., R. Smith, C. Moskovitz and A. Sayle, 2009. BioTAP: A Systematic Approach
to Teaching Scientific Writing and Evaluating Undergraduate Theses. Bioscience 59, p. 896-
903.

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 MSc Curriculum for Agricultural Economics

 URL1: http://jonathan.mueller.faculty.noctrl.edu/toolbox/rubrics.htm (last visited November

17, 2009)
URL2: http://en.wikipedia.org/wiki/Rubric_(academic) (last visited November 17, 2009)

AgEc 7034: Thesis

I. Description
The master thesis comprises the preparation of proposal for the graduate thesis and the main
research. Students identify and state briefly the problem and design methods of how the research
could be done. Students prepare their thesis proposal based on the courses advanced econometrics
application and research methods. The students will conduct their main research based on the
approved proposal, submit their research findings and defend.
II. Course Objectives
At the end of the course students will be able to conduct problem solving researches that help the
surrounding community and the nation at large and providing research finding that can be used as
input for government policy makers, Reference of dialogues for different stakeholders, Reference
for further inquiries in the area and so on.
III. Assessment Method
Students once they prepare the proposal the department organize presentation. The presentation
must have at least two examiners from the department. The student’s proposal must be accepted by
the examiners. Up on the accomplishment of the students’ master’s thesis, their performances are
evaluated based on the Bahir Dar senate legislation.

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 MSc Curriculum for Agricultural Economics

10.3 Need Assessment

The need assessment survey has been conducted as a prior step to confirm the
aforementioned premises and obtain further impetus in development of this particular curriculum.
The need assessment study was held on selected institutions in different parts of the country.

The objectives of the need assessment were:

1. To assess the labour market demand of agricultural economists.

2. To identify the stakeholders preference in mode of delivery (regular/extension/summer)
3. To learn from experience of other universities and identify the knowledge and skill gap of
previous Agricultural economics graduates from those universities

To achieve the above mentioned objectives the department of agricultural economics at BDU
organized an ad hoc curriculum committee.

10.3.1 Methodology for the Need Assessment

A. Reviewing Documents and Previous Similar Works

A review of local Labor Market documentation, publications and statistics and
establishment of benchmark information and statistics that can aid in the development of the Labor
Market Demand and Employment Opportunities were done and major employment drivers in the
economy stakeholders from both private and Government sectors were identified and scheduled.

B. Collection of primary data

Questionnaire was developed and entailed relevant areas that have been addressed the
objectives of the survey. The questionnaire was primarily focused on Agriculture and Rural
Development Offices, Agricultural Research Institutions, Universities and NGOs. In addition,
detailed discussions were held with different institutions intellectuals.

I. Stakeholders
1. Amhara Bureau of Agriculture and Rural Development
2. Southern Ethiopia Bureau of Agriculture and Rural Development
2. Amhara Bureau of Finance and Economic Development
3. Amhara Cooperatives Promotion Agency
4. Agricultural Transformation Agency (ATA) main office
5. Harmaya University

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 MSc Curriculum for Agricultural Economics

6. Hawassa University
7. Dire Dawa University
8. Wollo University
9. Woldia University
10. Debertabor University
11. Gonder University
12. International Center for Agricultural Research in the Dry Areas (ICARDA)
13. International Water Management Institute (IWMI),
14. Organization for Rehabilitation and Development in Amhara (ORDA)
15. Sirinka Agricultural Research Center
16. Melkassa Agricultural Research Center
17. Hawassa Agricultural Research Center
18. Gonder Agricultural Research Center
19. South Gonder zone department of agriculture and rural development
20. South Gonder zone cooperative promotion office

10.3.2 Results of the need assessment

10.3.2.1 Description of the respondents conditions

Most of our respondents were from academic and research institutions (> 69%) refer fig 1.

Fig. 1: Type of organization

50 Ty pe of
46.5116
organization
academic
civ il serv ice
40 other
research

30
Percent

23.2558
20.9302
20

9.30233
10

0
Other Civil service Research Academic
Source: Survey result, 2015

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 MSc Curriculum for Agricultural Economics

The educational levels of majority of the respondents were MSc and above (refer fig. 2).

Fig.2: Educational Level of Respondents

50 Educational
44.186 Level
41.8605 BA/BSc
MA/MSc
40 PHD

30
Percent

20
13.9535

10

0
BA/BSc MA/MSc PHD
Source: Surver result, 2015

10.3.2 The demand for the program

The curriculum committee have reviewed the MSc. curriculum of Harmaya and Dila
Universities. These two curricula have been used as the bases for drafting this curriculum.
Moreover, we have utilized the Dila University need assessment study result in year 2013, which
was held in selected weredas of south Ethiopia. According to their assessment study among 13
selected agricultural post graduate program both employer and employees had ranked agricultural
economics first (refer appendix 1 and 2).

In the past nine years the college of agriculture and environmental sciences here in BDU, in
the first five years for rural development department and currently for agricultural economics
department, have been tried to hire MSc agricultural economics graduates. What we witnessed from
these trials were the number of applicants were very limited and most of the time number of
applicants were just equal to the number of vacant place. This by itself shows how much serious the
demand of agricultural economist.

Our need assessment result also showed that program has still high demand. Among our
respondents more than 90% believed the progam highly significant (see fig. 3).

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 MSc Curriculum for Agricultural Economics

Fig. 3: Attitudes of the respondents towards the opening of the program

Category
Not important
9.3% Important

90.7%

Source: Survey result, 2015

Currently a good number of public universities have observed the professional gap in the
field of agricultural economics and have been tried to play their own role to mitigate the problem.
For instance, in the past few years four government universities have opened the program. Inspite of
these efforts, the demand of the graduate still unmet. In our need assessment more than 50% of the
respondents believed the program has still high demand (see fig. 4). Most of our keyinformants
have also understood the flourishing of the department throughout the country and they
recommended us to make our program unique.

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 MSc Curriculum for Agricultural Economics

Fig 4. Demand for MSc Agricultural Economics

60 Demand
53.4884 high
lower
50 medium

41.8605
40
Percent

30

20

10
4.65116

0
lower medium high
Source: survey result, 2015

10.3.3 Contents of the program and mode of delivery

The content of an educational program must be dynamic. That is why academic institutions
should revise their program continuously based on the socioeconomic conditions of the country and
international market demand. Our curriculum committee have tried to identify the professional gaps
of agricultural economics graduates and also the suggestion of different academician and
development officers on the content of the program based on the current market demand.

The employers of interviewed institutions as well as agricultural economics experts have

identified several skill and knowledge gaps of previous agricultural economics graduates. The main
gaps were, undertaking separate research, quantitative and qualitative methods of analysis, program
planning and software skills. Majority of the respondents (>40%) belived that the gap in
undertaking an independent research and software skill (refer fig. 5).

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 MSc Curriculum for Agricultural Economics

Fig. 5: Professional gaps of agricultural economists

41.8605
Professional gap
40
Program planning and designing
Qualitativ e research analy sis
30 Quantitativ e sk ill and software
Percent

Research and software

Theortical and econometrics
20 18.6047
16.2791
13.9535
9.30233
10

0
e s e g
ar ric ar in ch
w et tw nn e ar
ft of la s
so n om s p re
d o d d e
an ec an an t iv
h g ta
rc nd t iv
e
ni
n a li
se
a la a t a ig Qu
e t ic ti es
R or u an d
e Q am Source: Survey result, 2015
Th g r
o
Pr

Moreover, the curriculum should be designed to mitigate the skill and knowledge gaps of
graduates. However, one program alone can neither solve the whole problems nor incorporates all
the suggested courses. In our need assessment study respondents proposes different courses. For
example;

 One introductory one advanced econometrics courses

 Advanced micro and macroeconomics
 Value chain management
 Institutional economics
 Applied mathematics for economists
 Farm management and production economics
 Agricultural project planning and analysis

In addition the respondents also gave their own weights among listed courses. Accordingly,
the quantitative methods has got higher weight (90.7% consider it is very important), then research
methods (72.7%) (refer fig. 6).

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 MSc Curriculum for Agricultural Economics

The respondents also forwarded their own suggestion regarding the way of delivering the
program. Majority of the respondents preferred regular (>50%) refer fig. 7. Key informant
discussant also suggested the program should start with regular then expand to other delivery
system except distance program.

Fig. 7: Mode of Program Delivery

C ategory
distance
2.3% 4.7%
7.0% except distance
extension
regular
regular and summer
25.6% summer

2.3%

58.1%

Source: Survey result, 2015

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 MSc Curriculum for Agricultural Economics

From our survey result and secondary documents one can conclude that the demand of MSc
in agricultural economics is undeniable. However, to increase the value of our graduate the content
of the curriculum should be unique and also mitigate the knowledge and skill gaps of graduates.

table Annex 1: Area of training program ranked by sampled employee according to their
importance

Specialization % Rank
Agricultural Economics 10.27 1
Rural development and agricultural Extension 8.95 2
Animal health and production 8.62 3
Agri-business 8.50 4
Animal Nutrition 8.39 5
Land resource management 8.31 6
Range land 7.56 7
Agriculture Engineering 7.07 8
Horticulture 6.85 9
Plant Science Agronomy 6.81 10
Plant Science Integrated pest management 6.43 11
Plant Science Plant breeding 6.13 12
plant science Protection 6.09 13

Source: Dila University Field survey, 2013

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 MSc Curriculum for Agricultural Economics

Table Annex 2: Area of training program ranked by employer according to their importance

Specialization % Rank
Agricultural Economics 10.52 1
Animal health and production 10.33 2
Land resource management 9.37 3
Animal Nutrition 9.18 4
Rural development and agricultural Extension 8.80 5
Horticulture 7.27 6
Agriculture Engineering 7.27 6
Plant Science Agronomy 7.46 7
Range land 6.69 8
Agri-business 6.12 9
Plant Science Integrated pest management 6.12 9
Plant Science Plant breeding 5.54 12
plant science Protection 5.35 13
Source: Dila University Field survey, 2013

10.3.4 : Need Assessment Questionnaire

Bahir Dar University, College of Agriculture and Environmental Sciences,
Department of Agricultural Economics
Need Assessment for Commencing MSc Degree Program in
“Agricultural Economics”
To be Filled by Selected Respondents of Organizations

1. Organization’s Profile
1.1. Name of the organization: ____________________________________
1.2. Type of the organization:
1. Government 3. Private
2. NGO 4. Specify if other _______

1.3. Officer Interviewed:

1.3.1.Name: _________________________________________
1.3.2.Position: _______________________________________

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 MSc Curriculum for Agricultural Economics

1.3.3.Education level:__________________________________
1.3.4.Years of Experience in the organization: ________________

1.4. What are the major activities with which the organization is involved?
______________________________________________________________________
______________________________________________________________________
___________________________________________________________________
1.5. Personnel profile of the organization (educational background of employees):
1.5.1.Number of staff at office: ________________
1.5.2.Number of staff with their first University degree: ________________
1.5.3.Number of staff with Postgraduate qualification: ________________
1.5.4.Number of economists: ________________
1.5.5.Number agricultural economists: ________________
1.5.6.Number of natural resource and environmental economists: _____________
1.5.7.Number of other employees with educational background related to natural
resource and environment: _______________________________________
1.6. Do you have staff development program?
1. Continual & 2. Based on Need
Programmed 3. As directed from above

2. Rationale/Importance of Commencing this MSc program

2.1. Do you fill that there is a need for MSc level education in the field of Agricultural
Economics?
1. Yes 2. No
2.2. If your answer for question number 2 - 1 is “Yes”, how do you perceive the demand?
1. Higher 2. Medium 3. Lower
2.3. If your answer for question number2-1 is “No”, justify your reason?
________________________________________________________________________

2.4. What do you expect, if BDU open MSc program in Agricultural Economics? Expected
opportunities and threats?

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 MSc Curriculum for Agricultural Economics

___________________________________________________________________________
_________________________________________________________________________
2.5. What are the professional gaps you noticed from economics graduates in your
organization (put in priority order)
__________________________________________________________________________
3. Expected Competence and recommendations

3.1. Are you interested with the commencing of this program?

1. Yes 2. No
3.2. If you are interested with the commencing of this program, which program do you recommend?
1. Regular 3. Extension
2. Distance 4. Summer
3.3. If you are interested with the commencing of this program, what are the major tasks
expected to be performed by graduates of this program? (Use the back page if you don’t have
enough space)
_______________________________________________________________________________
___________________________________________________

3.4. Given the expected tasks performed by the graduates that you have stated above (in
question number 3-3, how do you rank the required skills to make the graduates acquire well
equipped competence?
Required skills Rank separately for 3.5 and 3.6
3.5. Professional competencies
3.5.1. Mathematical/Econometric (Quantitative)
skills
3.5.2. Economic theories
3.5.3. Research methodology and scientific paper
writing skill
3.5.4. Natural resource and environmental analysis
3.5.5. Policy analysis ability
3.6. Generic skills
3.6.1. Communication/presentation skill

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 MSc Curriculum for Agricultural Economics

3.6.2. Team work skill

3.6.3. Coordination/facilitation skills
3.6.4. Leadership/management skills
3.6.5. Ethics and commitments
3.7. Which courses should be incorporated to make Natural Resource and Environmental
Economics more worthwhile?
__________________________________________________________________
__________________________________________________________________
3.8. General Comment:
_________________________________________________________________________
_______________________________________________________________
For detail information, you can contact to us with

Phone: 0918-76 90 11
Mail: [email protected]

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