Livestock Economics, Marketing and Business Management

Course overview

This course module entitled VAE 321 Livestock Economics, Marketing and Business Management (2+1) is dealt with meaning of common terms and principles of basic economics. Here we deal with production, consumption, exchange and distribution of economic principles as applied to livestock with the animated graphs for easy understanding. Apart from this it also explores new emerging topics like current  export and import of livestock and livestock products, guidelines for import of germplasm and International Agreements/Regulations (WTO and General Agreement on Trade and Tariff – GATT). Importance of the quantum of animal diseases losses, a highly beneficial concept  for the veterinary graduate has been dealt  under  animal health economics. Further  various cost concepts with suitable graphical representation and formulas are discussed to teach ways to increase profitability for the farm. Course contents under  livestock marketing, create awareness regarding nature and scope, classification, functions and various marketing channels for livestock and livestock products. Livestock business management contents has been articulated under management of  resource, finance and labour. Further this course ushers knowledge on accounting part of the farm with formula and procedures.
In the practical portions, solved model practical exercises have been discussed for each exercise like preparation of  journal and ledger, cash book , trading account, profit and loss accounts, income and expenditure accounts, balance sheet and bank reconciliation statement. Model project of dairy unit, poultry, piggery, sheep and goat units have been dealt with excellent MS excel sheet with automated calculation of income and expenditure, repayment schedule and financial analysis.