Production economics 811

Module code LEK 811
Qualification Postgraduate
Faculty Faculty of Natural and Agricultural Sciences
Module content

This module follows on the final-year module LEK 421 and is taught at the intermediate level and now moves beyond the single input production function to analysis with multi-variable functions. Detailed exposure to production, cost and profit functions, and the duality that exists between these is a core element of the module. The focus will also be on the implications of the properties for the economic behavior of agents. At the end of this module students will have complete competence in algebraically solving for the cost minimisation and profit maximisation problems. Themes covered in the module are: Properties of production functions. Economic theory of cost. Economic Theory of Profits. Duality between the cost and production functions. Duality between the profit and production functions. Applied topics.

Module credits 15.00
NQF Level 09
Contact time 1 practical per week, 2 lectures per week
Language of tuition Module is presented in English
Department Agricultural Economics Extension and Rural Develo
Period of presentation Semester 2

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.

Copyright © University of Pretoria 2024. All rights reserved.

FAQ's Email Us Virtual Campus Share Cookie Preferences