Advanced production economics 711

Module code LEK 711
Qualification Postgraduate
Faculty Faculty of Natural and Agricultural Sciences
Module content

Advanced production economics
(a) Primal approach: Structure of the production technology and properties, elasticity of substitution, homogeneity and returns to scale, separability, estimation of technology parameters and testing hypothesis about properties, functional forms.
(b) Normative supply analysis: Applications of linear programming to farm supply decisions.
(c) Dual approach: The profit function, the cost function, duality and technology structure, estimation and hypothesis testing.
(d) Positive supply analysis: Econometric specification of output supply and factor demand, restrictions from technology structure (homogeneity, etc.), aggregate supply analysis.
(e) Risk and uncertainty: Mean-variance analysis applications in agricultural production, stochastic dominance; MOTAD and quadratic programming.

Module credits 15.00
NQF Level 08
Prerequisites EKT 713 and MIE 780
Contact time 1 lecture per week, 1 practical per week
Language of tuition Module is presented in English
Department Agricultural Economics Extension and Rural Develo
Period of presentation Semester 2

Regulations and rules
The regulations and rules for the degrees published here are subject to change and may be amended after the publication of this information.

The General Academic Regulations (G Regulations) and General Student Rules apply to all faculties and registered students of the University, as well as all prospective students who have accepted an offer of a place at the University of Pretoria. On registering for a programme, the student bears the responsibility of ensuring that they familiarise themselves with the General Academic Regulations applicable to their registration, as well as the relevant faculty-specific and programme-specific regulations and information as stipulated in the relevant yearbook. Ignorance concerning these regulations will not be accepted as an excuse for any transgression, or basis for an exception to any of the aforementioned regulations.

University of Pretoria Programme Qualification Mix (PQM) verification project
The higher education sector has undergone an extensive alignment to the Higher Education Qualification Sub-Framework (HEQF) across all institutions in South Africa. In order to comply with the HEQSF, all institutions are legally required to participate in a national initiative led by regulatory bodies such as the Department of Higher Education and Training (DHET), the Council on Higher Education (CHE), and the South African Qualifications Authority (SAQA). The University of Pretoria is presently engaged in an ongoing effort to align its qualifications and programmes with the HEQSF criteria. Current and prospective students should take note that changes to UP qualification and programme names, may occur as a result of the HEQSF initiative. Students are advised to contact their faculties if they have any questions.

Copyright © University of Pretoria 2023. All rights reserved.

COVID-19 Corona Virus South African Resource Portal

To contact the University during the COVID-19 lockdown, please send an email to [email protected]

FAQ's Email Us Virtual Campus Share Cookie Preferences