The document discusses the economic surplus model, which is a tool used for ex-ante impact assessment. It provides an overview of the concept, assumptions, specifications, data requirements, and computation of the economic surplus model. The model is popular because it requires relatively little data and provides reliable results. While it has merits such as estimating distribution of benefits, it also has limitations like ignoring transaction costs. The document examines case studies applying the model to assess potential impacts of Bt brinjal in India and actual impacts of a drought-resistant groundnut variety in Andhra Pradesh.
This document discusses key concepts in agricultural production economics including:
1. It defines input-output relationships and different types of production functions including continuous, discrete, very short run, short run, and long run production functions.
2. It categorizes agricultural resources as fixed, variable, stock, and flow and explains how the distinction between stock and flow resources can be confusing depending on the time period considered.
3. It outlines the three basic types of relationships in production as factor-factor, product-product, and factor-product and describes how production functions model the input-output relationship.
4. It describes the different returns to scale that can exist in production including constant, increasing, and diminishing
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
The document summarizes the structure-conduct-performance (SCP) paradigm, which provides a framework for analyzing the relationship between industrial structure, conduct, and performance. It describes the key components of market structure, including concentration, product differentiation, entry conditions, and integration. Market structure influences firm conduct and pricing policies. Market performance refers to economic results and is evaluated based on efficiency, output relative to input, and progressiveness. The major market structures are perfect competition, monopoly, oligopoly, and monopolistic competition.
Schultz’s Thesis of Traditional Agriculture.pptxZeenatPasha
Schultz defines traditional agriculture as an economic equilibrium where (1) farming techniques remain constant, (2) farmer preferences and motives for owning production factors remain constant, and (3) this state remains long enough for marginal productivity and income from factors to reach equilibrium with zero net savings. Key characteristics are perfect allocation of resources and no unused factors or misallocation. The only way to increase production is adopting new production factors. However, critics argue Schultz's definition and assumptions of perfect allocation and no unused factors are flawed, and a purely market-based approach neglects social interests.
The document discusses India's agricultural pricing policy (APP). It provides background on trends in agricultural prices over time. The APP was established in 1968 to provide incentives to farmers and stabilize prices. It uses instruments like minimum support prices, market intervention schemes, and public distribution systems. The policy aims to induce desired crop outputs and increase agricultural production. It has advantages like incentivizing production but also disadvantages like inadequate coverage and rising inflation. Suggestions are made to improve the policy like expanding coverage of crops and improving agricultural markets and public distribution systems. The current scenario outlines minimum support prices announced for various crops.
The document discusses India's agricultural price policy and related programs. It provides background on how the policy emerged in response to food scarcity issues. It then describes the objectives of price policy, the need for such a policy, its main features including the institutions involved like CACP and FCI. It also discusses factors considered in price setting, effects of the policy, and shortcomings like limited coverage and ineffective PDS. Suggestions are provided to improve the policy including expanding coverage and improving productivity.
The document discusses concepts of production including factors of production, production functions, and concepts of total, average, and marginal products. It explains that production transforms inputs into outputs. A production function shows the technical relationship between physical inputs like labor and capital to the physical output. Total product is the total output from given inputs, while average product is the output per input unit. Marginal product is the change in total product from an extra input unit. The law of variable proportions states that as a variable input increases with a fixed input, total product first rises, then falls, then becomes negative.
This document discusses key concepts in agricultural production economics including:
1. It defines input-output relationships and different types of production functions including continuous, discrete, very short run, short run, and long run production functions.
2. It categorizes agricultural resources as fixed, variable, stock, and flow and explains how the distinction between stock and flow resources can be confusing depending on the time period considered.
3. It outlines the three basic types of relationships in production as factor-factor, product-product, and factor-product and describes how production functions model the input-output relationship.
4. It describes the different returns to scale that can exist in production including constant, increasing, and diminishing
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
The document summarizes the structure-conduct-performance (SCP) paradigm, which provides a framework for analyzing the relationship between industrial structure, conduct, and performance. It describes the key components of market structure, including concentration, product differentiation, entry conditions, and integration. Market structure influences firm conduct and pricing policies. Market performance refers to economic results and is evaluated based on efficiency, output relative to input, and progressiveness. The major market structures are perfect competition, monopoly, oligopoly, and monopolistic competition.
Schultz’s Thesis of Traditional Agriculture.pptxZeenatPasha
Schultz defines traditional agriculture as an economic equilibrium where (1) farming techniques remain constant, (2) farmer preferences and motives for owning production factors remain constant, and (3) this state remains long enough for marginal productivity and income from factors to reach equilibrium with zero net savings. Key characteristics are perfect allocation of resources and no unused factors or misallocation. The only way to increase production is adopting new production factors. However, critics argue Schultz's definition and assumptions of perfect allocation and no unused factors are flawed, and a purely market-based approach neglects social interests.
The document discusses India's agricultural pricing policy (APP). It provides background on trends in agricultural prices over time. The APP was established in 1968 to provide incentives to farmers and stabilize prices. It uses instruments like minimum support prices, market intervention schemes, and public distribution systems. The policy aims to induce desired crop outputs and increase agricultural production. It has advantages like incentivizing production but also disadvantages like inadequate coverage and rising inflation. Suggestions are made to improve the policy like expanding coverage of crops and improving agricultural markets and public distribution systems. The current scenario outlines minimum support prices announced for various crops.
The document discusses India's agricultural price policy and related programs. It provides background on how the policy emerged in response to food scarcity issues. It then describes the objectives of price policy, the need for such a policy, its main features including the institutions involved like CACP and FCI. It also discusses factors considered in price setting, effects of the policy, and shortcomings like limited coverage and ineffective PDS. Suggestions are provided to improve the policy including expanding coverage and improving productivity.
The document discusses concepts of production including factors of production, production functions, and concepts of total, average, and marginal products. It explains that production transforms inputs into outputs. A production function shows the technical relationship between physical inputs like labor and capital to the physical output. Total product is the total output from given inputs, while average product is the output per input unit. Marginal product is the change in total product from an extra input unit. The law of variable proportions states that as a variable input increases with a fixed input, total product first rises, then falls, then becomes negative.
Multi-market models allow estimation of policy impacts through a system of supply and demand equations for closely linked markets. They capture direct effects as well as indirect effects through price and quantity changes in these markets. This provides a more accurate assessment than single-market models or general equilibrium models, which model all markets. The method requires data on income, prices, and consumption to parameterize demand and supply and model how policy changes propagate through the selected markets. It has been applied particularly to agricultural policies where food markets are linked. However, multi-market models only consider indirect effects in the modeled markets and ignore linkages elsewhere.
Marketing efficiency is measured as the ratio of market output to market input. It can be improved by reducing costs for the same level of satisfaction or increasing satisfaction at a given cost. Marketing costs include all costs incurred by producers and intermediaries in moving products from farms to consumers. Marketing margins are measured as the differences between prices at successive stages of marketing. Common approaches to assessing marketing efficiency include calculating output-to-input ratios, total marketing costs, producer prices received, and consumer prices paid. Factors like perishability, bulkiness, and supply irregularity influence marketing costs.
Cost Curves, Introduction, Types of Costs (Accounting costs, real cost, Implicit Cost, Opportunity cost, Explicit cost, Social cost, Imputed and Sunk Cost), Types of cost curves (Short run cost function, Relationship between Total Cost, Fixed Cost and Variable Cost, Costs in Long run, Conclusion.
This document discusses aggregate demand, which is the total planned spending on goods and services in an economy. It has four main components: consumer spending, investment spending, government spending, and net exports. Changes in aggregate demand are caused by factors like monetary policy, fiscal policy, business and consumer confidence, and external economic conditions. A rise in aggregate demand leads to increased output and employment as the economy expands along the aggregate demand curve, while a fall in aggregate demand causes contraction. The document examines how each of the components and various demand-side factors can influence aggregate demand in the UK economy.
This document provides an overview of production theory and costs. It defines production as the process of converting inputs into outputs. The relationship between inputs and outputs is represented by the production function. There are laws of variable proportions that describe how average and marginal productivity change with increasing input usage in the short-run. In the long-run, returns to scale can be increasing, constant, or decreasing. The document also defines different types of costs including fixed, variable, average, and marginal costs and how they change with output levels in the short-run.
This document discusses key concepts relating to market structure, conduct, and performance. It outlines six key features that determine market structure, including the number of firms, market share of largest firms, nature of costs, degree of vertical integration, product differentiation, and structure of buyers. It also discusses how market structure influences the conduct and pricing decisions of businesses. Finally, it analyzes how market performance can impact structure over time through factors like market share changes, research and development spending, and productivity trends.
This document discusses production functions and the factors that influence them. It defines key concepts like total product, average product, marginal product, and different types of production functions.
The short-run production function, known as the law of variable proportions, describes how output changes as one input varies while others are held fixed. It outlines the three stages of increasing, decreasing, and negative returns. The long-run production function examines how output changes as all inputs vary, governed by laws of returns to scale. Constant, increasing, and decreasing returns to scale are defined. Isoquants and the marginal rate of technical substitution are also explained. The document concludes by discussing how production functions inform managerial decision making.
1. The document discusses general equilibrium theory (GET) and defines general equilibrium as a state where all markets and decision-making units are in simultaneous equilibrium.
2. It presents a simple two-sector general equilibrium model of an economy with two consumers, two goods, and two factors of production. Equations represent consumer demand, factor supply, factor demand, good supply, and market clearing for goods and factors.
3. With the number of equations equal to the number of unknowns, a general equilibrium solution exists in this Walrasian model under certain assumptions. GET provides a framework for understanding the complexity of economic systems through interdependent markets.
The Lewis dual sector model of development describes an economy transitioning from subsistence agriculture to a more modern, urbanized structure. It consists of two sectors: a traditional subsistence sector with zero marginal productivity of labor, providing surplus labor; and a modern industrial sector where labor is transferred from the traditional sector, expanding output and employment through reinvested profits. However, the model is criticized for assuming profits are always reinvested when they could enable labor-saving investments or capital flight, and for assuming perfect competition in labor markets and unlimited surplus labor, which is inconsistent with historical evidence from developing countries.
Lewis proposed a model of economic development where a developing economy consists of two sectors: a subsistence agricultural sector and a capitalist industrial sector. Workers move from the agricultural sector with zero marginal productivity to the industrial sector with higher productivity. This increases profits in the industrial sector, fueling expansion and absorbing more agricultural workers. Eventually, wages rise in the agricultural sector as well. However, capitalist profits may not be reinvested as assumed, and other assumptions like constant wages are questionable. Overall, Lewis sought to explain how economies develop by transforming their economic structure and increasing savings and investment rates.
This theory relies on the market behaviour of the consumer to know about his preferences with regard to the various combinations for the two reactions and responses of the consumer.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
This document discusses externalities and how they can lead to market inefficiencies. It defines externalities as uncompensated impacts of one person's actions on another. Negative externalities like pollution lead to overproduction, while positive externalities like education benefits lead to underproduction. Government policies like Pigouvian taxes or tradable permits can help internalize these externalities and achieve socially optimal production levels. Private solutions via bargaining are also possible using the Coase theorem, but transaction costs may prevent private solutions in some cases.
Macroeconomics is the study of the behavior and performance of the economy as a whole. It deals with aggregate economic quantities such as output, income, employment, and prices. Macroeconomics analyzes economy-wide phenomena like growth, recessions, inflation, and the impact of fiscal and monetary policy. The goal of macroeconomics is to promote full employment, stability, and economic growth on a national scale.
This chapter is intended to ensure that students understand why agricultural policies are needed in both developing and developed countries. It will also shed light on the major forces that cause policy change, reasons for government involvement in agriculture and the place of agricultural policies in the future.
Welfare economics analyzes the optimal allocation of resources and goods to maximize social welfare. It considers both total welfare achieved and how it is distributed. Pareto optimality is a state where no individual can be made better off without making another individual worse off. Ricardian rent theory states that rent arises from differences in land fertility and is determined by the price of agricultural output, not the other way around. Quasi rent is the temporary surplus earned on capital equipment when supply is fixed in the short run.
Agricultural marketing and price analysis lecture presentation.pptxbizuayehuadmasu1
This document outlines the topics to be covered in an agricultural marketing and price analysis course. The course will cover 6 chapters: definitions and basic concepts, market performance analysis, spatial and inter-temporal market integration, empirical demand analysis, revealed and stated preference analyses, and agricultural supply response and commercialization. It then provides an in-depth overview of chapter 1 which defines key economic terms and concepts like scarcity, market systems, and the role of prices in market-based economies.
Multi-market models allow estimation of policy impacts through a system of supply and demand equations for closely linked markets. They capture direct effects as well as indirect effects through price and quantity changes in these markets. This provides a more accurate assessment than single-market models or general equilibrium models, which model all markets. The method requires data on income, prices, and consumption to parameterize demand and supply and model how policy changes propagate through the selected markets. It has been applied particularly to agricultural policies where food markets are linked. However, multi-market models only consider indirect effects in the modeled markets and ignore linkages elsewhere.
Marketing efficiency is measured as the ratio of market output to market input. It can be improved by reducing costs for the same level of satisfaction or increasing satisfaction at a given cost. Marketing costs include all costs incurred by producers and intermediaries in moving products from farms to consumers. Marketing margins are measured as the differences between prices at successive stages of marketing. Common approaches to assessing marketing efficiency include calculating output-to-input ratios, total marketing costs, producer prices received, and consumer prices paid. Factors like perishability, bulkiness, and supply irregularity influence marketing costs.
Cost Curves, Introduction, Types of Costs (Accounting costs, real cost, Implicit Cost, Opportunity cost, Explicit cost, Social cost, Imputed and Sunk Cost), Types of cost curves (Short run cost function, Relationship between Total Cost, Fixed Cost and Variable Cost, Costs in Long run, Conclusion.
This document discusses aggregate demand, which is the total planned spending on goods and services in an economy. It has four main components: consumer spending, investment spending, government spending, and net exports. Changes in aggregate demand are caused by factors like monetary policy, fiscal policy, business and consumer confidence, and external economic conditions. A rise in aggregate demand leads to increased output and employment as the economy expands along the aggregate demand curve, while a fall in aggregate demand causes contraction. The document examines how each of the components and various demand-side factors can influence aggregate demand in the UK economy.
This document provides an overview of production theory and costs. It defines production as the process of converting inputs into outputs. The relationship between inputs and outputs is represented by the production function. There are laws of variable proportions that describe how average and marginal productivity change with increasing input usage in the short-run. In the long-run, returns to scale can be increasing, constant, or decreasing. The document also defines different types of costs including fixed, variable, average, and marginal costs and how they change with output levels in the short-run.
This document discusses key concepts relating to market structure, conduct, and performance. It outlines six key features that determine market structure, including the number of firms, market share of largest firms, nature of costs, degree of vertical integration, product differentiation, and structure of buyers. It also discusses how market structure influences the conduct and pricing decisions of businesses. Finally, it analyzes how market performance can impact structure over time through factors like market share changes, research and development spending, and productivity trends.
This document discusses production functions and the factors that influence them. It defines key concepts like total product, average product, marginal product, and different types of production functions.
The short-run production function, known as the law of variable proportions, describes how output changes as one input varies while others are held fixed. It outlines the three stages of increasing, decreasing, and negative returns. The long-run production function examines how output changes as all inputs vary, governed by laws of returns to scale. Constant, increasing, and decreasing returns to scale are defined. Isoquants and the marginal rate of technical substitution are also explained. The document concludes by discussing how production functions inform managerial decision making.
1. The document discusses general equilibrium theory (GET) and defines general equilibrium as a state where all markets and decision-making units are in simultaneous equilibrium.
2. It presents a simple two-sector general equilibrium model of an economy with two consumers, two goods, and two factors of production. Equations represent consumer demand, factor supply, factor demand, good supply, and market clearing for goods and factors.
3. With the number of equations equal to the number of unknowns, a general equilibrium solution exists in this Walrasian model under certain assumptions. GET provides a framework for understanding the complexity of economic systems through interdependent markets.
The Lewis dual sector model of development describes an economy transitioning from subsistence agriculture to a more modern, urbanized structure. It consists of two sectors: a traditional subsistence sector with zero marginal productivity of labor, providing surplus labor; and a modern industrial sector where labor is transferred from the traditional sector, expanding output and employment through reinvested profits. However, the model is criticized for assuming profits are always reinvested when they could enable labor-saving investments or capital flight, and for assuming perfect competition in labor markets and unlimited surplus labor, which is inconsistent with historical evidence from developing countries.
Lewis proposed a model of economic development where a developing economy consists of two sectors: a subsistence agricultural sector and a capitalist industrial sector. Workers move from the agricultural sector with zero marginal productivity to the industrial sector with higher productivity. This increases profits in the industrial sector, fueling expansion and absorbing more agricultural workers. Eventually, wages rise in the agricultural sector as well. However, capitalist profits may not be reinvested as assumed, and other assumptions like constant wages are questionable. Overall, Lewis sought to explain how economies develop by transforming their economic structure and increasing savings and investment rates.
This theory relies on the market behaviour of the consumer to know about his preferences with regard to the various combinations for the two reactions and responses of the consumer.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
This document discusses externalities and how they can lead to market inefficiencies. It defines externalities as uncompensated impacts of one person's actions on another. Negative externalities like pollution lead to overproduction, while positive externalities like education benefits lead to underproduction. Government policies like Pigouvian taxes or tradable permits can help internalize these externalities and achieve socially optimal production levels. Private solutions via bargaining are also possible using the Coase theorem, but transaction costs may prevent private solutions in some cases.
Macroeconomics is the study of the behavior and performance of the economy as a whole. It deals with aggregate economic quantities such as output, income, employment, and prices. Macroeconomics analyzes economy-wide phenomena like growth, recessions, inflation, and the impact of fiscal and monetary policy. The goal of macroeconomics is to promote full employment, stability, and economic growth on a national scale.
This chapter is intended to ensure that students understand why agricultural policies are needed in both developing and developed countries. It will also shed light on the major forces that cause policy change, reasons for government involvement in agriculture and the place of agricultural policies in the future.
Welfare economics analyzes the optimal allocation of resources and goods to maximize social welfare. It considers both total welfare achieved and how it is distributed. Pareto optimality is a state where no individual can be made better off without making another individual worse off. Ricardian rent theory states that rent arises from differences in land fertility and is determined by the price of agricultural output, not the other way around. Quasi rent is the temporary surplus earned on capital equipment when supply is fixed in the short run.
Agricultural marketing and price analysis lecture presentation.pptxbizuayehuadmasu1
This document outlines the topics to be covered in an agricultural marketing and price analysis course. The course will cover 6 chapters: definitions and basic concepts, market performance analysis, spatial and inter-temporal market integration, empirical demand analysis, revealed and stated preference analyses, and agricultural supply response and commercialization. It then provides an in-depth overview of chapter 1 which defines key economic terms and concepts like scarcity, market systems, and the role of prices in market-based economies.
This document outlines an alternative pharmacy career mentor program at Butler University College of Pharmacy and Health Sciences. The program aims to expose student pharmacists to non-traditional pharmacy careers through mentorship relationships. It provides guidance for both mentors and mentees on the mentorship process. This includes completing career and personality assessments, maintaining professional online profiles, discussing work-life goals, and exploring hobbies. The program founder and faculty sponsor contact information is also listed.
Nebrija de la gramática de ayer a la gramática de hoyAndres Olaya
La obra Gramática de la lengua castellana de Elio Antonio de Nebrija de 1492 es fundamental en la historia del pensamiento lingüístico hispánico ya que fue la primera gramática de una lengua romance. Nebrija sentó las bases de la lingüística española con una visión de las grandes posibilidades de la lengua española. Si bien en el Siglo de Oro su obra tuvo gran importancia, hoy sigue siendo una referencia valiosa para los estudios gramaticales. Su legado representa un estímulo para la enseñanza y
Este documento analiza la perspectiva historiográfica de la ortografía española. Indica que la ortografía ha tenido un lugar destacado en los estudios lingüísticos españoles desde el Renacimiento, cuando autores como Nebrija establecieron las bases de la ortografía moderna. Explica que los ortógrafos españoles del Siglo de Oro como Villalón, López de Velasco y Correas abordaron la ortografía de forma completa, incluyendo no solo las letras sino también la puntuación y ac
Carlos Garabito is an experienced technician with expertise in electrical, electronics, mechanical, and industrial fields. He has worked in various roles for companies like United Technologies, Element Materials Technology, Babcock & Wilcox Company, and Florida Power & Light. Garabito has education in electronic engineering and holds various technical certifications. He is currently seeking new opportunities as an electrical, electronic, or mechanical technician.
Este documento describe un estudio que analiza cómo diferentes bases de datos bibliográficas representan la investigación química en México de maneras variadas. Los autores desarrollaron una metodología original que incluye construir estrategias de búsqueda adecuadas para cada base de datos e implementar procesos de normalización y análisis para comparar los resultados. Al aplicar esta metodología a cuatro bases de datos principales, los autores encontraron que la definición del campo de la química mexicana depende de la fuente de información
Este documento trata sobre los conceptos básicos de producción y costos de producción en la agricultura. Explica los diferentes tipos de costos como costos fijos, variables, totales y marginales. Define cada uno y su relación con el volumen de producción. También cubre conceptos como costo de oportunidad, costos sociales, y los diferentes modos de producción a través de la historia como la producción primitiva, esclavitud y feudalismo, culminando con el capitalismo.
Este documento analiza la relación entre las actitudes hacia el aprendizaje y el rendimiento académico en estudiantes universitarios. Presenta una investigación que busca comprobar si las actitudes positivas influyen en mejores calificaciones. Se desarrolló un cuestionario para medir las actitudes de los estudiantes y se analizó la relación con sus calificaciones. Los resultados sugieren que las actitudes positivas hacia el aprendizaje están relacionadas con un mejor rendimiento académico.
Thailand UNDP-GIZ workshop on CBA - A review of conduction cost-benefit analysisUNDP Climate
Thailand, 27-28 November 2017 - UNDP and GIZ partnered with the Thailand Office of Agriculture Economics (OAE) to launch a workshop designed to connect vital stakeholders to build an effective National Adaptation Plan.
The two-day workshop at the Rama Garden Hotel had 20 participants from each department under the Ministry of Agriculture and Cooperatives (MOAC). The workshop was designed to build capacity of planning officers to formulate better projects and budget submissions as well as potential climate finance proposal using cost-benefit analysis and ecosystem-based analysis appraisal tools.
Productivity is a measure of the efficiency of a system in converting inputs to outputs. It can be measured at different levels from individual to national. At the national level, productivity is important for economic growth and competitiveness. A country's productivity is often measured using GDP per capita or labor productivity. Factors like education, technology, policies and investments affect national productivity. Maintaining and improving productivity is crucial for countries to compete globally and improve standards of living.
Productivity is defined as the relationship between outputs and inputs, where outputs are the goods and services produced from a system and inputs are the resources like labor, materials, and equipment used to produce those outputs. Productivity can be improved by increasing outputs or decreasing inputs. Productivity is important to measure at various levels including individual, group, department, corporate, national, and global levels. At the national level, higher productivity leads to economic growth, lower inflation, and greater international competitiveness.
Productivity is defined as the relationship between outputs and inputs, where outputs are the goods and services produced from a system and inputs are the resources like labor, materials, and equipment used to produce those outputs. Productivity can be improved by increasing outputs or decreasing inputs. Productivity is important to measure at various levels including individual, group, department, corporate, national, and global levels. At the national level, higher productivity leads to economic growth, lower inflation, and greater international competitiveness.
Building Institutional Capacity in Thailand to Design and Implement Climate P...UNDP Climate
23-25 November 2016, Thailand - A centerpiece of the Integrating Agriculture in National Adaptation Plans Programme (NAP-Ag) in Thailand is its support to develop a new five-year Strategy on Climate Change in Agriculture (2017-2021). This is spearheaded by the Ministry of Agriculture and Cooperatives (MOAC) and its Office of Agriculture Economics (OAE). The strategy was unveiled after a series of meetings by a Technical Working Group at a three-day workshop held on 23-25 November 2016 in Bangkok, organized by UNDP. Over 60 participants from each MOAC line department and 10 participants from academia and civil society were briefed by the Office of the Natural Resources and Environmental Policy and Planning (ONEP) and GIZ on the status of the National Adaption Plan (NAP) and learned how NAP-Ag programme efforts could support a broader NAP process and align with the Sector Plan. The new strategy focuses on improving evidence and data for informing policy choices, building the capacity of farmers and agri-businesses to adapt, promoting low-carbon development and productivity growth in the sector, and building institutional and managerial capacities to cope with climate change impacts.
Exploring the Dynamics of Production Functions.pdfTEWMAGAZINE
Production Functions it represents the technological relationship between inputs and outputs in the production process. It specifies the maximum quantity of output
Decision Support System for Energy Saving Analysis in Manufacturing IndustryIJRES Journal
Nowadays the attempts to optimize energy efficiency and environmental impact are increasingly present in all activity areas and specifically in manufacturing industry. An innovative approach to achieve these optimizations lies in advanced combination of decision support technologies and Knowledge Management. A benchmarking energy saving tool (decision support tool) was carried out in four (4) different years, 2007 to 2010 in Niger mills limited, located in Calabar to generate energy intensity and energy intensity index of the period. The result obtained for energy intensity in 2007 was 2.30GJ/m3, Energy intensity for 2008 was 2.30GJ/m3, Energy intensity for 2009 was 2.40GJ/m3, and energy intensity for 2010 was 2.30GJ/m3. This result shows that for the period of these four years, that the energy consumed is in an average range of 2.30GJ/m3. That if the productivity increase as the result of increase in production, the energy intensity will increase to 2.40GJ/m3 or there about as the case maybe as a result of increase in production.
An Activity Based Costing-Based A Case Study Of A Taiwanese Gudeng Precisio...Kelly Lipiec
This document discusses implementing an activity-based costing (ABC) system at a Taiwanese semiconductor process equipment factory (SPEF) to more accurately estimate product costs. Currently, the SPEF uses a traditional costing system that does not precisely reflect production costs. The ABC system would assign costs to products based on the activities and resources required to produce them. An analysis of the SPEF's current cost structure is provided. The document proposes developing an ABC model for the SPEF and comparing the results to the traditional system to analyze benefits and obstacles of the ABC approach.
Development of sustainable manufacturing decision making models for SMEsSUJIT SINGH
The document outlines a research study on developing decision-making models for sustainable manufacturing in small and medium enterprises (SMEs). It discusses research background, gaps in existing literature, objectives, methods, and key findings. An empirical study was conducted to identify key performance measures for SME sustainability assessment. Two fuzzy logic-based models were developed for sustainability performance evaluation. Additionally, a novel integrated analytic hierarchy process-VIKOR method under interval-valued fuzzy environment was created for sustainable manufacturing strategy selection. Finally, a web-based expert system was built to facilitate performance assessment and strategy selection for manufacturing SMEs.
8. chapter 7 work study (time and motion study)sundar sivam
The document discusses work study, which aims to improve work methods and establish standard times for work. It is comprised of two techniques: method study, which examines existing and proposed ways of doing work to develop easier and more effective methods; and work measurement, which establishes time standards for jobs. There is a close relationship between method study, which focuses on reducing work content and establishing the best method, and work measurement, which investigates ineffective time and establishes time standards. Productivity, work study techniques, method study procedures, and factors influencing productivity are also covered at a high level.
Soil Conservation and Small-scale Food Production in Highland Ethiopia: A Sto...SIANI
This study uses a stochastic metafrontier approach to analyze the role of soil conservation technologies in small-scale agriculture in Ethiopia. It estimates production frontiers for different soil conservation technology groups and a group without soil conservation. It finds that plots with soil conservation were more technically efficient than those without. The metafrontier estimates indicate that soil conservation enhances the technological position of naturally disadvantaged plots. The study discusses how efficiency measurement can help evaluate the potential advantages of farm technologies.
20151112 Conference Call on Economic Opportunities for Clean Energybusinessforward
As America transitions to using cleaner energy sources, new opportunities should emerge for American businesses. A report released this week by ICF International and NextGen Climate America found that accelerating the transition to a clean energy economy will decrease energy costs and create over a million jobs by 2030.
Please join us for a conference call with Dan Lashof, Chief Operating Officer of NextGen Climate America, who will discuss the economic opportunities of clean energy.
Cost management involves planning and controlling a project's budget to help ensure it is completed within approved funding. It includes processes like resource planning, cost estimating, cost budgeting, and cost control. Resource planning determines what resources like people, equipment, and materials are needed. Cost estimating develops cost approximations for project activities. Cost budgeting allocates overall estimates to specific work items to establish a cost baseline. Cost control monitors performance against the baseline and manages any changes to keep costs on track. Maintaining and improving productivity is important for cost management and completing projects successfully within budget.
Productivity, efficiency, effectiveness, quality, quality of work life, and innovation are all interrelated factors that can impact overall productivity.
Improving one area can positively influence others. For example:
- Increased efficiency (doing more with less) and effectiveness (achieving goals) can directly improve productivity.
- Higher quality outputs that meet customer needs build reputation and demand, leading to greater productivity.
- A positive quality of work life makes employees more satisfied, innovative, and productive.
- Innovation in products/services and work processes can boost quality, efficiency, and productivity over time.
So while productivity specifically measures outputs per input, optimizing those other performance dimensions tends to mutually reinforce gains in overall
Modelling Production Performance of Small Scale Production PlantIJAEMSJORNAL
This document presents a study that developed a model to evaluate capacity utilization (CU) of small-scale production plants. The model considers key inputs like plant operators, capital, research and development spending, energy usage, and machinery maintenance expenditures. The dependent variable is CU of the plant. The model is tested on a small-scale water production plant. Results show the plant's average CU was 74% over six months. All inputs were positively correlated to CU, with major inputs significantly contributing to it. The model explained about 80% of CU with inputs. The model's estimated outputs were within 2% of actual recorded outputs. The model was found to be statistically significant and useful for small-scale plants to evaluate production performance.
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financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
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• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Economic Surplus Model
1. ECONOMIC SURPLUS MODEL:
A Tool for Ex-Ante Impact Assessment
JAIPRAKASH BISEN (10562)
Ph.D. Ist Year
Division of Agricultural Economics
Indian Agricultural Research Institute, Pusa
New Delhi-110012
Speaker
2. Scheme of Presentation
1) Concept of Impact and Impact Assessment
2) Basic Questions on Impact Assessment
3) Economic Approaches to Impact Assessment
4) Economic Surplus Model (ESM)-
a) Introduction
b) Basic Assumptions of ESM
c) Model Specification
d) Reasons for Popularity of ESM
5) Practical Aspects of Using the ESM-
a) Type of Data Required
b) How to Use the Model / How to Calculate Economic Surplus
6) Merits of Economic Surplus Model
7) Limitations of Economic Surplus Model
8) Improvements Over ESM
9) Scope of Using ESM
10) Case Studies
3. Concept of Impact & Impact assessment
Impact Assessment is the process of identifying the future consequences of
a current or proposed action.
The “impact” is the difference between what would happen with
the action and what would happen without it.
Adopted from- Ruth Simsa et.al., 2014
OUTCOME IMPACTINPUT ACTIVITIES OUTPUTS
Results that are
measurable
(Tangible)
Results that are
not measurable
(Intangible)
Outcome with
intervention -
Outcome
without
intervention
Fig: The Impact Value Chain, Adopted from- The Goldman Sach Foundation, 2003
4. • Why to do Impact Assessment? (Reason)
Feasibility study; Beneficiary; Change in variable- Poverty,
Education, Employment, Environmental quality, Income, Prices,
Living Standard etc.
• When to do Impact Assessment?
Before ( Ex- Ante) and After ( Ex-Post )
• Approaches in Impact Assessment?
Before and After (But it needs the benchmark information and
sometimes the benefits may be exaggerated)
With and Without (Can be used only when the two comparing
units are homogenous)
• What to Measure in Impact? (Indicators)
Efficiency, Food security, Sustainability, Employment generation,
Institutional capacity, Net Benefits etc.
• Level of Impact Assessment?
Farm; Household; Regional; National; Global level
Basic Questions on Impact Assessment
5. Impact Indicators
FARM Level
Increase in average yield
Increase in net income
Decline in unit cost of production
Enhance employment and labor productivity
Price premium due to quality
Increase of improved seed demand
Household food & nutritional security
Gender related issues
REGIONAL Level
Food production
Sustainability of natural resources
Food security
Employment issues
Equity issues
Poverty
Trade
Inter- sectoral linkages
Production
Prices
Trade:
Export
Import
Spill-over effect
Sustainability of natural resources
NATIONAL Level
Note: it’s not the exhaustive list of indicators. They may vary as per objectives of research
Source- Kumar P., Slideshare. net
Accessed on -07/07/2016
6. Types of Impact Assessment
Before the project or
program is initiated
Aid in priority
setting
Expected values
Perspective
After adoption of a research
product
Tangible and intangible
outcomes after its successful
implementation
Actual Values
Retrospective
Ex-Ante
Ex-Post
7. Significance of Impact Assessment
.
It identifies the under and over represented functions and factors of the
policies and structures.
It acts as the supporting pillar in the development of policies and structures.
Applicable, acceptable and equally useful in all the field of life.
Helps in improving the performance of the procedure or product.
Enlightens the environmental, health social and economics consequences of
the application under process.
8. Provides assured structure and reduces the risk of practical performance.
Enlightens the logical and conceptual objectives.
Provides testimonials for the fundamentals of policies.
Improves and assess the quality of the policy, product or a procedure.
Considered a the integrated approach which analyze both the disadvantages
and advantages
Provides confidence to the new initiatives in the society.
Also help the organization in evaluating the cost and maintenance of the
policies or structures.
Continue…
9. Economic Approaches to Impact Assessment
1) Econometric Approach- The econometric approach employs a production
function, cost function, or a total factor productivity analysis to estimate the
change in productivity due to investment in research.
It also uses regression models (like probit, logit, tobit, and two-stage least squares
(2SLS) regressions) to explain the impact of investment on socio-economic and
agro-ecosystem services.
• The main constraint on the wider application of econometric approaches in
developing countries is data availability (good-quality time-series data) and
quality.
• Alternative to time series data- Panel Data (Cassman and Pingali,1995;
Pender, 2005)
2) Project Approach- It uses the tools like Benefit-Cost Ratio, Net Present Worth of
project, Internal Rate of Returns, Sensitivity Analysis etc. to assess the project
impact. But, its purely Economic and overlooks the social impact.
10. 3) Economic Surplus Approach- Most popular and fruitful approach used to
assess the consequences of investments in agricultural research (Griliches,1958)
4) Bio-Economic Model- Its the integration of biophysical and economic
information into a single integrated model which is capable of simultaneously
addressing various dimensions of agriculture and NRM technology changes and
the resulting trade-offs among economic, sustainability and environmental
objectives. (Barbier, 1998; Barbier and Bergerson, 2001; Holden and Shiferaw,
2004;Holden et.al. 2004)
5) Meta Analysis- is effectively an analysis of analyses. It is a relatively new
methodology and its main purpose is to collate research findings from the previous
studies, and distil them for broad conclusions.
Meta-analysis is helpful to policymakers, who may be confronted by numerous
conflicting conclusions
6) Programming Methods- try to identify one or more optimal technologies or
research activities from a set of options. Thus, these methods try to maximize one
objective, i.e. farmers’ profit subjected to constraints like availability of land,
labour and other inputs.
11. APPROACHES MAJOR ADVANTAGE MAJOR LIMITATIONS
Econometric Approach All sectors are included Non- availability of time
series data
Project Approach Give precise results and are
quick to estimate
Only Economic impact are
measured., Sensitive to
discount rate and no of
years of project
Economic Surplus
Approach
All sectors are included &
it needs less information
than the other methods
Elasticity of demand &
Elasticity of supply
sensitive
Bio-Economic Model Whole system is included,
Optimization
Meta Analysis Provides a macro picture Aggregation bias
Adopted from- K. Palanisami et.al, 2011
12. Concept of Economic Surplus
PRICE
QUANTITY
P
D
S
S
D
e
O
Q
Consumer’s Surplus
Producer’s Surplus
Economic Surplus
Economic surplus represents the difference between the monetary value
of the units consumed and the monetary value of units produced up to
the equilibrium price and quantity.
13. • ESM, based on some of the tools of welfare economics look at
how the interaction of demand and supply determine the value
of economic transaction.
• ESM shows how the research affect the supply and demand
and their resultant market outcomes.
• By augmenting product quality that increase the product
demand, or lowering the cost of production that increase the
supply, research can expand the market and change the
economic rewards for market participants.
14. Assumptions of Economic Surplus Model
1) A parallel shift of the supply curve following the adoption of
technology/ Investment,
2) The functional form of the supply curve is unknown
3) Assumption of closed economy
4) Country is the only exporter of product and rest of world do not
adopt the technology (In case of Open Economy)
5) The competitive demand price for a given unit measures the value
of that unit to the consumer.
6) The competitive supply price for a given unit measures the value of
that unit to the producer.
7) The costs and benefits accruing to each member of the relevant
group should be added.
Harberger ,1971 and Alston, 1995
15. Model Specification
For a Closed Economy with a parallel supply shift that results from an improved technology,
the annual change in market‐level total economic surplus (∆TS) can be measured as:
Where
P0 = Base price of the commodity,
Q0 = Base quantity,
ɳ = Absolute value of the price elasticity of demand.
Z = K ε/( ε+ɳ) or the proportionate price reduction in the market, where ε is the
elasticity of supply
Kt = proportionate reduction in cost per ton of production in time t or research induced shift in
supply and it can be calculated as
Where
E(Y) = Proportionate yield increase per hectare for technology adopters,
ɛ = Price elasticity of supply,
E(C) = Proportionate variable input cost change per hectare,
A = Proportion of the area affected by the technology,
d = Depreciation rate of the technology
(Alston, et al., 1995).Price
P0
P1
Q0 Q1
a
bK
S0
S1
Quantity
D
∆TS = P0Q0K(1+0.5Zɳ)
Kt = ((E(Y)/ε) ‐ (E(C)/(1+E(Y) )At(1‐d)t
∆PS = P0Q0 (K-Z) (1+0.5Zɳ)∆CS = P0Q0Z(1+0.5Zɳ)
16. For a Open Economy with parallel supply shift-
Where
PW = World price
Q0 = Base quantity
K = proportionate reduction in cost per ton of production
ɛ = Price elasticity of supply
Model Specification
Price
P0
P1
Q0 Q1
a
bk
S0
S1
c
Quantity
D
For a Closed Economy with a Proportional supply shift
∆TS = 0.5P0Q0K(1+0.5Zɳ)
∆TS = PWQ0K(1+0.5K ε)
17. Economic Surplus Model is Quite Popular
1
2
3
4
Requires the least data
Is relatively easier to use
Is relatively simple and flexible
Yields reliable results
18. Practical Aspects of Using ESM
In General
Price
Quantity0
S0
S1
D
P0
P1
a
b
cd
I 0
I1
Q0 Q1
Δ TS = +
Δ CS = +
Δ PS = -
19. Variant- 1 Variant- 2
Technological innovation
leads to COST REDUCTION
Technological innovation
leads to INCREASE IN SUPPLY
PRICE
QUANTITY
P0
D
S0
D
e0
O Q
P1 S1
e1
PRICE
QUANTITY
P0
D S1
D
e0
O Q0
e1
S0
Q1
Change in Economic Surplus = P0e0e1P1 Change in Economic Surplus = Q0e0e1Q1
Continue…
21. Cost of Research/Developing a Technology
• Why it is required to estimate the research cost?
Continue…
I. Several costs are involved in the generation of research and technologies, &
II. To analyse the research’s viability is necessary to estimate the research costs.
• What costs to be considered?
The operation costs-
Fuel, energy, laboratory, field products and other inputs (Same for
capital assets also)
Other Costs-
The administrative expenses, costs of complementary services as libraries and the
costs of technology transfer like extension programmes.
- (Masters et al., 1996)
Wages of the team employed as well as time devoted to generate a technology
-(Pardey et al., 2002)
22. a) Productivity increase generated by research,
b) Equilibrium price of assessed product,
c) Adoption rate and costs,
d) Timeframe between research and adoption, and
e) Price elasticity of supply and demand.
To calculate the magnitude
of change of the supply
curve as a result of the
adoption of technological
innovations
(Maredia et al., 2000).
Data Required for using ESM
24. Merits of Economic Surplus Model
Estimated the distribution of benefits across the stakeholders.
It gives the gross benefit from a research or technological
development
It can be used for ex-ante as well as ex-post impact
assessment.
- (Nderim Rudi, 2008)
It is easy and simple to use.
It requires relatively lesser data than other approaches and
gives reliable results.
25. Limitations of Economic Surplus Model
It generally ignores the transaction cost which results in the
overestimation of benefits,
Partial equilibrium nature of analysis ignores the effect of any
relationship with other product and factor in the market
Issue of measurement error is associated in Economic Surplus
Analysis.
It gives only the gross benefit of any intervention and ignores
the net benefit.
26. Improvement over Economic Surplus Model
Equivalent Variation (EV) - It takes into account the income effect of the price
change.
Econometric Approach - Gives most reliable results
Tools for Computation of Economic Surplus
S. No. Tools Developed By
01. MODEXC International Centre for Tropical Agriculture
(CIAT)
02. RE4 Australian Centre for International Agricultural
Research (ACIAR)
03. Dynamic
Research Evaluation for
Management (DREAM)
International Food Policy Research Institute
(IFPRI)
04. Spreadsheet Approach -------------------------------------
27. Scopes of Using Economic Surplus Model
Ex- Ante Impact Assessment
Feasibility of a research proposal/project; policy
Ex-post Impact Assessment
Economic benefit of policy intervention
Welfare measurement form introduction of new technology
In Agriculture-
• Varietal Impact
• Impact of adoption of new technology
• Impact of research and extension interventions, etc.
28. Case Study- 1 ( Ex-Ante Impact Assessment)
ITEMS PARTICULARS
Year of Publication 2011
Area All over India ( Eastern, Western, Northern, & Southern
regions)
Year of Study 2009
Production Share of
Brinjal in Vegetables
8% (Fourth largest after Potato, Onion, & Tomato)
Major Problem Fruit & Shoot Borer (60-70% Yield losses)
Adoption Level 15% 30% 60%
Methodology Followed
in Impact Analysis
Economic Surplus Model (Open Economy)
Potential Technological
Intervention
Bt. Brinjal
29. REDUCTION IN INSECTICIDE USE AND INCREASE IN FRUIT YIELD
DUE TO Bt BRINJAL HYBRIDS
Results
POTENTIAL ECONOMIC BENEFITS OF Bt BRINJAL CULTIVATION TO
FARMERS AND CONSUMERS UNDER DIFFERENT ADOPTION SCENARIOS
AT ALL-INDIA LEVEL
30. SIMULATED GAINS IN ANNUAL ECONOMIC SURPLUS FROM Bt
BRINJAL CULTIVATION UNDER DIFFERENT SCENARIOS AT
ALL-INDIA LEVEL
Results
31. Case Study- 2 ( Ex-Post Impact Assessment)
ITEMS PARTICULARS
Year of Publication 2012
Area Anantapur, AP
(Drought prone district)
Year of Study 2006-08
Area Under groundnut 819 thousand Ha. (75% of GCA of district) & 15% of GN area
of Country
Rainfall Scenario Deficit rainfall by 35% in June, July % Aug, and 31% deficit in
September
Groundnut Growing
Season
Kharif (July-September)
Rulling Variety TMV 2 (1970- 2005)
Technological
Intervention
ICGV9114 (2002-03)
32. ITEMS PARTICULARS
No. of Respondents 400 (200+200)
Village Covered 49 (out of 68)
Mandal Covered 8
Method of data
Collection
Simple Random Sampling
Duration of data
collection
Five years after introduction of ICGV 91114
Methodology Followed
in Impact Analysis
Economic Surplus Model (Open Economy)
RESULT
Variety TMV 2 ICGV91114
Yield 567 kg/ha 704 kg/ha
Total Revenue 17398 22060
Total Cost 7898 9235
Net Benefits 9500 12825
33. NET PRESENT VALUE OF THE BENEFITS FROM ADOPTION OF
IMPROVED DROUGHT-TOLERANT GROUNDNUT VARIETY ICGV
91114 FOR THE PERIOD 2004-05 TO 2020-21
Results
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Research benefits in terms of social gain were computed both for ‘with’ and ‘without’ the
technology and the difference in benefits was attributed to research investment by NATP