AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Household firm relationship.

By the end of the lesson, the learner should be able to:
Define a household and a firm as business terms.
Describe a household and a firm as producers and consumers and their role in a country's economic growth.

Q/A: review definition of economics, production economics.
Exposition & explanations.
Q/A & discussion.

resource person

KLB BK IV
Pg 96-97

Longhorn Bk 4
Pg 20-21

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Gross domestic product (GDP) and Gross National product (GNP). Per Capita Income.
Contribution of Agriculture to national development.

By the end of the lesson, the learner should be able to:
Define the terms GDP & GNP.
Define the term gross national income (GNI).


Define the term per capita income.

Explain contribution of Agriculture to development.

Exposition & explanations.



Calculations.


Brain storming;
Discussion.

calculator

KLB BK IV
Pg 97-98

Longhorn Bk 4
Pg 87-88
KLB BK IV
Pg 98-9
Longhorn Bk 4
Pg 90-91

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Land as a factor of production.

By the end of the lesson, the learner should be able to:
Describe the economic value of production of crops and livestock and space for construction of farm buildings, agro-industries & infrastructure.
List down methods of land acquisition.

Exposition of new concepts;
Probing questions to elicit responses;
Brief discussion.

student book

KLB BK IV
Pg 99-100

Longhorn Bk 4
Pg 92-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Land as a factor of production.

By the end of the lesson, the learner should be able to:
Describe the economic value of production of crops and livestock and space for construction of farm buildings, agro-industries & infrastructure.
List down methods of land acquisition.

Exposition of new concepts;
Probing questions to elicit responses;
Brief discussion.

student book

KLB BK IV
Pg 99-100

Longhorn Bk 4
Pg 92-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Labor as a factor of production.
Capital.

By the end of the lesson, the learner should be able to:
Define the term labor as used in production.
Explain ways of improving labor productivity.
Identify types of labor.
Define the term capital.
Identify types of capital.
List sources of capital.

Oral questions & discussion.
Oral questions, exposition & discussion.

chart

KLB BK IV
Pg 100-2

Longhorn Bk 4
Pg 93-4
KLB BK IV
Pg 102-3
Longhorn Bk 4
Pg 94-95

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Management as a production factor.

By the end of the lesson, the learner should be able to:
State functions of a manager in a farm.
Identify good qualities of a manager.

Q/A & discussion.

KLB BK IV
Pg 103-4

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Production function.

By the end of the lesson, the learner should be able to:
Define production function.
State characteristics of variable and fixed inputs.

Q/A: examples of inputs & outputs; variable and fixed inputs;
Brief discussion.

KLB BK IV
Pg 104-6
Longhorn Bk 4
Pg 96-7

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Production function curves.

By the end of the lesson, the learner should be able to:
Illustrate and interpret input-output relationship graphically.

Worked examples: supervised practice.

Graph papers.

KLB BK IV
Pg 106-7
Longhorn Bk 4
Pg 98

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Increasing returns production functions.

By the end of the lesson, the learner should be able to:
Illustrate and interpret Increasing returns production functions.
Give empirical examples where increasing returns production functions are experienced.

Tabulate inputs and outputs.
Graphical representation of increasing returns production functions.

Graph papers.

KLB BK IV
Pg 107-8
Longhorn Bk 4
Pg 99

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Constant returns production functions.

By the end of the lesson, the learner should be able to:
Constant returns production functions.
Give empirical examples where Increasing returns production functions are experienced.

Tabulate inputs and outputs.
Graphical representation of constant returns production functions.

charts

KLB BK IV
Pg 108-9

Longhorn Bk 4
Pg 99

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Decreasing returns production functions.
Law of diminishing returns.

By the end of the lesson, the learner should be able to:
Decreasing returns production functions.
Give empirical examples where decreasing returns production functions are experienced.
State the law oh diminishing returns.

Tabulate inputs and outputs.
Graphical representation of decreasing returns production functions.
Refer to illustrative tables.
Plot graphs from the tables;
Discuss shape of the curve.

graphs

KLB BK IV
Pg 109-10
KLB BK IV
Pg 112

Longhorn Bk 4
Pg 100-1

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Zones of a PF curve.

By the end of the lesson, the learner should be able to:
Divide a production function into three zones.
Identify rational zones of production.

Q/A: review AP, MP.
Guided discovery of the three zones.

Chart - Curve showing 3 zones of PF.

KLB BK IV
Pg 113-5
Longhorn Bk 4
Pg 101-2

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Zones of a PF curve.

By the end of the lesson, the learner should be able to:
Divide a production function into three zones.
Identify rational zones of production.

Q/A: review AP, MP.
Guided discovery of the three zones.

Chart - Curve showing 3 zones of PF.

KLB BK IV
Pg 113-5
Longhorn Bk 4
Pg 101-2

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

The principles of substitution. Input-input relationship.
Product-product relationship. Supplementary and complementary products.

By the end of the lesson, the learner should be able to:
State the principles of substitution.
Give examples illustrating principles of substitution.
Identify ways of combining inputs.
Give examples of product-product relationship.

Give illustrative examples depicting supplementary and complementary products.

Exposition.

Illustrative examples, brief discussion.
Oral questions: joint products, competitive products.

Discussion.

charts

KLB BK IV
Pg 115-6

Longhorn Bk 4
Pg 102
KLB BK IV
Pg 116-7

Longhorn Bk 4
Pg 103

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

The principle of equi-marginal returns. The concept of cost.

By the end of the lesson, the learner should be able to:
State the principle of equi-marginal returns.

Determine the cost of production.
Identify the role of cost in production.
List types of costs.

Discussion.


Exposition;
Worked examples.

KLB BK IV
Pg 117-9

Longhorn Bk 4
Pg 104-5,6

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Types of revenue.

By the end of the lesson, the learner should be able to:
Compute total revenue, net revenue and marginal revenue given the relevant information.

Worked examples;
Explanations.

KLB BK IV
Pg 119-120
Longhorn Bk 4
Pg 107

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farm planning.

By the end of the lesson, the learner should be able to:
State factors to consider when drawing a farm plan.

Exposition, Q/A & discussion.

charts

KLB BK IV
Pg 121-2
Longhorn Bk 4
Pg 108

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Making a farm plan.

By the end of the lesson, the learner should be able to:
Outline steps followed in making a farm plan.

Exposition, probing questions & discussion.

KLB BK IV
Pg 122-3
Longhorn Bk 4
Pg 109

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farm budgeting.

By the end of the lesson, the learner should be able to:
Define a farm budget.
Analyse importance of farm budgeting.

Exposition & discussion.

chart

KLB BK IV
Pg 123
Longhorn Bk 4
Pg 110

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Types of farm budgets.
Farmer?s support services Extension, training & banking.

By the end of the lesson, the learner should be able to:
Describe types of farm budgets.
Give examples of contexts where certain types of budgets are used.
Draw a partial budget.
Draw a complete budget.

Describe extension, training & banking as support services to the farmers.

Exposition & discussion,
Worked examples;
Supervised practice;
Written exercises.
Exposition & explanations.

chart

KLB BK IV
Pg 124-7

Longhorn Bk 4
Pg 110-1
KLB BK IV
Pg 127-8

Longhorn Bk 4
Pg 112-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Credit. Sources of credit.

By the end of the lesson, the learner should be able to:
Define the term credit.
Identify types of credit.
Differentiate between hard & soft credit.
List down sources of credit.
Identify problems associated with credits.

Detailed discussion
& exposition of new concepts.

student book

KLB BK IV
Pg 128-130



Longhorn Bk 4
Pg 113-5

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Artificial insemination & Agricultural research.

By the end of the lesson, the learner should be able to:
Describe A.I. services provided to farmers.
Identify objectives of Agricultural research.
Give examples of Agricultural research centers in Kenya.

Detailed discussion
& exposition of new concepts.

student book

KLB BK IV
Pg 130-2

Longhorn Bk 4
Pg 115-6

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Artificial insemination & Agricultural research.
Marketing. Farm input suppliers Tractor hire service

By the end of the lesson, the learner should be able to:
Describe A.I. services provided to farmers.
Identify objectives of Agricultural research.
Give examples of Agricultural research centers in Kenya.

Cite examples of organizations that help farmers in marketing their produce.
Cite organizations where farmers can obtain farm inputs.
State merits & demerits of tractor hire service.
Cite points of tractor hire service.

Detailed discussion
& exposition of new concepts.
Writing initials in full e.g. KPCU.

Brief discussion

student book
resource person

KLB BK IV
Pg 130-2

Longhorn Bk 4
Pg 115-6
KLB BK IV
Pg 132-4


Longhorn Bk 4
Pg 112-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Risks and uncertainties in farming.

By the end of the lesson, the learner should be able to:
Define the terms risk and uncertainty.
List types of risk and uncertainties.

Brain storming;
Detailed discussion.

KLB BK IV
Pg 134-5

Longhorn Bk 4
Pg 116-7

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Adjusting to uncertainties and risks.

By the end of the lesson, the learner should be able to:
Outline ways of adjusting to risks and uncertainties.

Brain storming;
Detailed discussion.

KLB BK IV
Pg 135-6

Longhorn Bk 4
Pg 118-9

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Financial documents.
Books of accounts.

By the end of the lesson, the learner should be able to:



Outline details contained in an invoice, receipt, delivery note and a purchase order.

Describe features of the ledger and the inventory.

Oral questions & brief discussion.
Oral questions & brief discussion.
Illustrative tables.

Invoice, receipt, delivery note and a purchase order.

KLB BK IV
Pg 139-145

Longhorn Bk 4
121

KLB BK IV
Pg 146-150
Longhorn Bk 4
Pg 124

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Cash book.

By the end of the lesson, the learner should be able to:
Describe features of the cash book.
Balance cash book.

Oral questions & brief discussion.
Illustrative examples.

Cash book.

KLB BK IV
Pg 150
Longhorn Bk 4
Pg 125

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Cash book.

By the end of the lesson, the learner should be able to:
Describe features of the cash book.
Balance cash book.

Oral questions & brief discussion.
Illustrative examples.

Cash book.

KLB BK IV
Pg 150
Longhorn Bk 4
Pg 125

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Journal & Subsidiary books of the Journal.
Financial statements. Balance sheet.

By the end of the lesson, the learner should be able to:
Describe features of the journal & subsidiary books of the journal.
Describe features of balance sheets.
Prepare a balance sheet.

Oral questions & brief discussion.
Illustrative tables.
Make entries in a balance sheet.
Prepare a balance sheet.
Supervised practice.

Balance sheet.

KLB BK IV
Pg 151-3
KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 129-130

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Solvency of a business.

By the end of the lesson, the learner should be able to:
Determine whether a business is solvent or insolvent.

KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 130

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Solvency of a business.

By the end of the lesson, the learner should be able to:
Determine whether a business is solvent or insolvent.

KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 130

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Solvency of a business.
Profit and loss account.

By the end of the lesson, the learner should be able to:
Determine whether a business is solvent or insolvent.

Define a profit and loss account.
Draw a profit and loss A/C.
Compute net profit.

Teacher gives format of profit and loss A/C.
Worked examples.
Supervised practice.

chart 

KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 130
KLB BK IV
Pg 157-9
Longhorn Bk 4
Pg 132-3

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Cash analysis.

By the end of the lesson, the learner should be able to:
Define the term cash analysis.
Draw a cash analysis.
Compute total receipt and total expenditure for a given accounting period.

Worked examples.
Supervised practice.
Written exercise.

chart

KLB BK IV
Pg 159-162

Longhorn Bk 4
Pg 133-4

AGRICULTURAL MARKETING & ORGANIZATIONS

Market and marketing.

By the end of the lesson, the learner should be able to:




Define the term market as an institution.
Distinguish between a perfect and imperfect market.

Q/A: definition.
Teacher?s explanations.

student book

KLB BK IV
Pg 164

Longhorn Bk 4
Pg 137

AGRICULTURAL MARKETING & ORGANIZATIONS

Types of markets. Monopoly. Oligopoly & Monopsony.
Price theory and demand.

By the end of the lesson, the learner should be able to:
Identify features of a monopolistic competition in a market, oligopolistic and monopsonistic markets.

Define the terms price & demand.
Sketch the demand curve.
Explain the term demand schedule.

Brain storming;
Exposition;
Discussion.
Exposition;
Curve sketching & explanations.

student book

KLB BK IV
Pg 165-6

Longhorn Bk 4
Pg 137-8
KLB BK IV
Pg 166-8
Longhorn Bk 4
Pg 139-140

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting demand for a commodity.

By the end of the lesson, the learner should be able to:
Outline factors affecting demand for a commodity.

Q/A, discussion & explanations.

KLB BK IV
Pg 168-9
Longhorn Bk 4
Pg 140-2

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting demand for a commodity.

By the end of the lesson, the learner should be able to:
Outline factors affecting demand for a commodity.

Q/A, discussion & explanations.

KLB BK IV
Pg 168-9
Longhorn Bk 4
Pg 140-2

AGRICULTURAL MARKETING & ORGANIZATIONS

Elasticity of demand.
Factors affecting elasticity of demand.

By the end of the lesson, the learner should be able to:
Explain the concept of elasticity of demand.
Illustrate demand for a commodity.
Calculate elasticity of demand.
Identify types of elasticity of demand.
Illustrate elastic, inelastic & unitary demand graphically.
State factors affecting elasticity of demand.

Teacher?s explanations.
Graphical illustration.

Worked examples. Supervised practice.



Graphical representation of demand.
Exposition;
Explanations.

chart

KLB BK IV
Pg 170-3


Longhorn Bk 4
Pg 142-4
KLB BK IV
Pg 173-4