Future farm managers need a range of tools and knowledge to run successful businesses, and this accessible textbook provides the required foundations from economics and management, applied to the farm context. In today’s world where farms are subject to ever-changing industrial, labor, demographic, and technological factors, this textbook provides a clear focus and methodology for business stability and growth. It covers core microeconomic and macroeconomic principles, plus the full range of management topics, from accounting and marketing to operations management and human resource management. It also covers family succession planning and farming mega-trends. This second edition has been updated with the latest data and literature, and gives deeper attention to sustainability and conservation. It also offers a broader range of examples, showcasing the diversity of farm types and farm sizes across the US and globally. Instructor materials are available as digital supplements. This textbook will be a valuable resource for courses in farm management, ranch management, agribusiness, and agricultural economics.

Farm managers will appreciate this book as they learn the principles of farm management; from the basics of management and economics; to the details of strategy and operations. It presents economic concepts, such as the discussion of markets, competitive forces, and macroeconomics, which is new to farm management texts. Material is included on strategy, marketing, budgeting, production and operations, quality, finance, investment, risk, contracts, staffing, business organisation, farm succession, and the future. Strategic management and quality management as well as new techniques and tools in production and operations management are also examined. This approach will help farm managers improve the efficiency, effectiveness, objectivity, and, ultimately, success of their decisions.

The book entitled Economics of Agricultural Production and Farm Management deals with two important aspects of agriculture and applied economics i.e. agricultural production economics and farm management. The book is divided into 14 chapters. The first ten chapters deal with farm management and the other four chapters deal with agricultural production economics. In farm management, introduction, characteristics of farming as a business, principles of farm management, types and systems of farming, farm planning and budgeting, farm business analysis, cost concepts, farm layout, risk and uncertainty and linear programming have been covered. In agricultural production economics the meaning, definition, nature and scope, basic terms and concepts, relationships between factor-product, factor-factor and product-product are covered with figures and data. It covers both fundamental and applied aspects. The book has been written in simple and easy language. It is intended to serve as a basis for a course in production economics and farm management and attempts at satisfying a need of under-graduate students of agriculture and post-graduate students of agricultural economics. It is hoped that the book will be worthwhile to teachers, students, researchers, professionals, farmers etc.

Whether you are working for government, an NGO or the private sector, if you are an agricultural extension worker who is trying to assist farmers in increasing the profitability of their farms, the material in this booklet should be of help to you.

Designed for the one-semester introductory course in farm management, this text introduces students to basic business management concepts and shows how these can be applied to the management of farms and ranches. This new edition up-dates information on agriculture and farm management.