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ANP510Agricultural Sciences2 Unitsintermediate

Livestock Economics

This course introduces the principles of livestock economics, covering the economic aspects of animal production, marketing, and consumption. It explores the role of livestock in the Nigerian economy, consumer behavior related to livestock products, and agricultural production functions. Topics include micro and macroeconomics in animal production, economic theories, capital investment, and the economics of animal feeds and feeding. The course aims to provide students with the knowledge to make informed decisions in livestock enterprises.

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96h
Study Time
13
Weeks
7h
Per Week
basic
Math Level
Course Keywords
Livestock EconomicsAnimal ProductionConsumer BehaviorAgricultural FunctionsFeed Economics

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
Math Level
Basic Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Livestock in Nigerian Economy

2

Consumer Behavior

3

Utility Analysis

4

Production Functions

5

Cost of Production

6

Livestock Marketing

7

Economic Theory

8

Capital Investment

9

Feed Economics

10

Livestock Nutrition

Total Topics10 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Farm Manager

Apply your skills in this growing field

Agricultural Economist

Apply your skills in this growing field

Livestock Consultant

Apply your skills in this growing field

Livestock Marketing Specialist

Apply your skills in this growing field

Feed Formulation Specialist

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

AgricultureLivestock ProductionFood ProcessingAgribusinessGovernment Agencies

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Livestock Product Consumers and Consumption Pattern

2h

Unit 1: The Place of Livestock in the Nigerian Economy

2 study hours
  • Read Unit 1: Overview of livestock products, prospects of the livestock industry, factors militating against successful animal production, and the multi-functionality of livestock.
  • Complete self-assessment exercises on the role of livestock in the Nigerian economy.
Week
2

Module 1: Livestock Product Consumers and Consumption Pattern

2h

Unit 2: Consumer and Consumption Pattern of Livestock Product

2 study hours
  • Study Unit 2: Understand consumer behavior, factors affecting consumption, and principles of consumption.
  • Analyze consumption patterns of livestock products.
Week
3

Module 1: Livestock Product Consumers and Consumption Pattern

2h

Unit 3: Theory of Consumer's Behaviour

2 study hours
  • Review Unit 3: Explore utility analysis, approaches to consumer behavior, and laws of utility analysis.
  • Solve problems related to consumer equilibrium and utility maximization.
Week
4

Module 1: Livestock Product Consumers and Consumption Pattern

2h

Unit 4: Retailing and Wholesaling

2 study hours
  • Study Unit 4: Differentiate between retailing and wholesaling, and understand the nature and importance of wholesaling.
  • Examine the functions and types of wholesalers.
Week
5

Module 2: Agricultural Production Functions

2h

Unit 1: Principle of Microeconomics and Macroecomonics

2 study hours
  • Read Unit 1: Understand the basic concepts of economics in animal production.
  • Differentiate between microeconomics and macroeconomics in animal production.
Week
6

Module 2: Agricultural Production Functions

2h

Unit 2: Production Function in Agriculture

2 study hours
  • Study Unit 2: Explain the concept of production and production function.
  • Examine single and two variable production functions.
Week
7

Module 2: Agricultural Production Functions

2h

Unit 3: Costs of Production

2 study hours
  • Review Unit 3: Understand the elements of cost of production and the scale of production.
  • Analyze factors affecting costs of production.
Week
8

Module 2: Agricultural Production Functions

2h

Unit 4: Marketing Theory in Relation to Livestock Production

2 study hours
  • Study Unit 4: Define livestock marketing and understand its functions and elements.
  • Examine different market types and marketing strategies.
Week
9

Module 3: Economic Theory and Livestock Feed Economics

2h

Unit 1: Application of Economic Theory and Quantitative Analysis

2 study hours
  • Read Unit 1: Understand the concept of economic theory and its application in animal production.
  • Explore capital investments and depreciation of capital.
Week
10

Module 3: Economic Theory and Livestock Feed Economics

2h

Unit 2: Nutrition in Livestock

2 study hours
  • Study Unit 2: Understand the importance of nutrition in livestock production.
  • Examine major livestock nutrients and their functions.
Week
11

Module 3: Economic Theory and Livestock Feed Economics

2h

Unit 3: Feeds and Feeding

2 study hours
  • Review Unit 3: Explore the concept of feeds and nutrient requirements.
  • Examine feeds and feeding strategies for different classes of livestock.
Week
12

Module 3: Economic Theory and Livestock Feed Economics

4h

Unit 3: Feeds and Feeding

4 study hours
  • Review all modules and units.
  • Work on assignments and prepare for tutor-marked assessments.
Week
13

Module 3: Economic Theory and Livestock Feed Economics

4h

Unit 3: Feeds and Feeding

4 study hours
  • Final Revision and TMA preparation
  • Complete all outstanding assignments and TMAs.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all Tutor-Marked Assignments (TMAs) and Students' Assessment Exercises (SAEs) thoroughly.

2

Create concept maps linking key concepts from Modules 1-3 to understand the relationships between consumer behavior, production functions, and feed economics.

3

Practice applying economic theories (e.g., supply and demand, utility analysis) to real-world livestock production scenarios.

4

Focus on understanding the factors affecting livestock production costs and marketing strategies.

5

Develop a strong understanding of livestock nutrient requirements and feed formulation principles.

6

Create flashcards for key terms and definitions from each unit.

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