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Fisheries Economics
Teacher
Mr. Pritam Tripathy
Category
Core Courses
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Course Name : Fisheries Economics
Code(Credit) : FSEE 2102 (2-1-0)
Course Objectives
- To deliver a well-developed understanding of the economics, science, and fisheries policies associated with fisheries, as well as a broad foundation in environmental and resource economics.
- To help students to understand the fish farmers respond to policies and economic opportunities.
- To let them know about different agencies servicing fishery and their policies.
- To acquaint the learner with introductory fisheries Economics, development of fisheries in India, use of yield increasing inputs, marketing, trade, and prices.
Course Outcomes
CO1: Improved decision-making about things like fisheries production methods, fisheries input levels, resource conservation, etc.
CO2: Students should be able to communicate effectively, economic concepts, decision-making, fisheries, and trade concepts.
CO3: Students should have the skills to fit into a business, agency, or academic environment and use economic concepts to quantify and analyze issues related to their employer’s issues.
CO-PO Mapping
| COs | Course outcome | POs addressed |
| CO-1 | Improved decision-making about things like fisheries production methods, fisheries input levels, resource conservation, etc. |
PO 1, PO 3
|
| CO-2 | Students should be able to communicate effectively, economic concepts, decision-making, fisheries, and trade concepts. |
PO 2, PO 3
|
| CO-3 | Students should have the skills to fit into a business, agency, or academic environment and use economic concepts to quantify and analyze issues related to their employer’s issues. | PO 3, PO7, PO8 |
PO1: Knowledge enhancement
PO2: Professional and Entrepreneurial Skill development
PO3: Critical thinking
PO7: Communication & Extension Skills
PO8: Team Work
Program Outcomes
PO1: Knowledge enhancement: Enhanced knowledge on concepts, essential facts, basics, principles and theories relating to fishery biology, biodiversity and aquatic environment, aquaculture, fish nutrition, fish physiology, genetics and biotechnology, fish processing, fisheries engineering, fish microbiology, fishery extension, economics, and biostatistics.
PO2: Professional and Entrepreneurial Skill development: Understanding the value and processes of life-long learning and professional enhancement and entrepreneurship development.
PO3: Critical thinking: After identifying the assumptions from the subject, take informed actions to frame the thinking and check out the degree to which these assumptions are accurate and valid, and look at our ideas and decisions (intellectual, organizational, and personal) from different perspectives.
PO4: Problem Solving: Solve the problems from concerned disciplines using the knowledge, skills and attitude acquired from various disciplines in fisheries science.
PO5: Environment and Sustainability: Understand the issues of environmental contexts and sustainable development.
PO6: Data Handling and computational skills: Collect, analyze and interpret biological and scientific data for the scientific and farming community with the help of computer-based programmes.
PO7: Communication & Extension Skills: Develop appropriate communication skills for effective transfer of knowledge and technologies through extension activities.
PO8: Team Work: Play effective roles in capture, culture, management, financial and marketing of fish produce.
PO9: Ethics: Application of ethical principles and commitment to professional ethics and responsibilities.
Course Syllabus
- Theory
Introduction to fisheries economics, basic economic terminologies – micro and macroeconomics, positive and normative economics, environmental economics, resource, scarcity, farm-firm relationships, production Contribution of the fisheries sector to the economic development of the country. Micro-economics: theories of demand, supply; market – equilibrium price, consumption, utility, Consumer surplus. Elasticity – price, income, cross, application of elasticity in fisheries managerial decision. Farm production economics – production functions in capture and culture fisheries; Costs and returns –breakeven analysis of fish production system; concepts of externalities and social cost;factors of production, marginal cost and return, law of diminishing marginal return, returns toscale, economies of scale and scope, revenue, profit maximization, measurement of technological change, farm planning and budgeting. Significance or importance of marginal cost. Macro-economics: Introduction to national income, accounting, measurement and determinants of national income, contribution of fisheries to GNP and employment; balance of payments, economic growth and sustainable development. Globalization: dimensions and driving Forces. Introduction to GATT and WTO. WTO Framework – Key Subjects – Agreement on Sanitary and Phytosanitary Measures (SPS), Seafood Export Regulations; Non-Tariff Barriers (NTBs) and Agreement on Anti-Dumping Procedures. Fisheries Subsidies and WTO. Fisheries Trade and Environment; protests against globalisation and WTO. Intellectual Property Rights (IPR) and different forms. Patents and patenting process, Agreement on TRIPS. Bio-piracy. GMOs in fisheries. Salient features of Indian Patent (Amendment) Act 2005. Overview of Patents in Indian fisheries sector. - Practical
Demand and supply functions of fish market – determination of equilibrium price for fish and fisheries products, calculation of price, income and cross elasticities. Production function – production with one or two variable inputs. Shifting demand and surplus curve and its importance in fish price. Economic analysis on cost, return and breakeven of any two production units like fish farm / shrimp farm / seed production unit /fish processing plant / export unit. - Reference Books
- 1. Fisheries and Aquaculture Economy ---- A.D. Upadhyay, A.K. Roy & P.K. Pandey
2. Fisheries Economics and Marketing - An Introduction ---- Shyam S. Salim, R.S. Biradar, & S.K. Pandey.
Session Plan (Theory)
Session 1
Introduction to fisheries economics:
Meaning and definition of fisheries economics - Meaning and definition of goods - Classification of goods
Video: What is Economics? An Intro to Economics - YouTube
Notes: PPT-INTRO
Session 2
Basic economics terminologies
Definition of micro and macroeconomics - Importance of micro and macroeconomics - Positive and normative economics, environmental economics - Resource and scarcity
Video: https://www.youtube.com/watch?v=2Nq8LN3XGQA&feature=youtu.be
Notes: http://courseware.cutm.ac.in/wp-content/uploads/2020/07/PPT-INTRO.pdf
Session 3
Production
Meaning and Importance of production - factors influencing production - Farm-farm relationships
Notes: PPT2-Demand
Session 4
Contribution of the fisheries sector to the economic development of the country
Strength, weakness, opportunities and threat analysis of Indian fisheries - Fishery resources in Odisha and India - Employment in fisheries and contribution of fisheries in national income
Session 5 - 7
Theories of demand
Meaning of demand and definition of demand - Law of demand and graphical representation - Demand curve - Extension and contraction of demand
Demand equation - Exception to the law of demand - Factors affecting demand
Price elasticity of demand - Calculation of elasticity of demand - Types of elasticity of demand - Applications in fisheries
Session 8 - 10
Theories of supply
Meaning and definition of supply - Law of supply and graphical representation - Supply curve - Extension and contraction of supply
Factors affecting the supply - Mathematical relationship between supply and factors affecting supply
Price elasticity of supply - Measurement of elasticity of supply - Types of elasticity of supply - Applications in fisheries
Session 11
Equilibrium price
Definition of equilibrium price - Graphical representation of equilibrium point - Equilibrium price for fish and fishery product
Session 12
Consumption
Definition and types of consumption - Direct and indirect consumption - Goods and service consumption
Session 13
Utility
Definition and forms of utility - Definition of marginal utility - Law of diminishing marginal utility and importance of the law - Graphical representation and interpretation
Session 14
Consumers surplus
Meaning of consumer surplus - Graphical representation - Importance of the law and limitation of the law
Video: https://www.youtube.com/watch?v=qYKJdooEnwU&feature=youtu.be
Session 15
Elasticity
Definition of elasticity (Price, Income, Cross) - Application of elasticity in fisheries - Managerial decision
Session 16
Production economics
Concept of production function - Production functions in capture fisheries - Production function in culture fisheries - Analysis of C-D model
Video: https://www.youtube.com/watch?v=VgF1agw8RmE&feature=youtu.be
Session 17 - 18
Costs and returns
Definition of fixed and variable cost - Definition of Breakeven point - BEP for fish culture and capture
Definition of social cost and marginal cost - Analysis of marginal cost - Significance or importance of marginal cost
Videos: https://www.youtube.com/watch?v=VgF1agw8RmE&feature=youtu.be
Notes: PPT12 breakeven analysis
Session 19
Factors of production
Definition and importance of factors of production - Factors affecting production, meaning - Importance of land, labour, capital, organisation and machinery
Session 20
Law of returns
Law of variable proportion - Law of increasing returns - Law of constant returns - Law of diminishing returns
Session 21
Revenue
Profit maximization - Measurement of technological change - Farm planning and budgeting
Session 22 - 23
National income
Concept of national income - Definition of gross national product, net national product, national income, disposable income - Meaning of depreciation
Measurement of national income - Income method - Expenditure method - Output method - Difficulties in measurement of national income
Session 24
Contribution of fisheries to GNP and employment
Status of fisheries at national level - Contribution of fisheries - Employment and self employment avenues - Trend of fisheries towards national income and employment
Session 25
Session 26
Economic growth and sustainable development
Meaning and objectives - Necessity for emphasis on sustainable development - Dimensions and driving forces
Video:
https://www.youtube.com/watch?v=xCnHZCwXZlc&pp=ygUrRWNvbm9taWMgZ3Jvd3RoIGFuZCBzdXN0YWluYWJsZSBkZXZlbG9wbWVudA%3D%3D
Session 27 - 29
WTO and GATT
Structure and functions of GATT and WTO - Agreement on sanitary and phytosanitary measures - Seafood export regulations
Non-Traiff Barriers (NTBs) - Agreement on anti-dumping procedures
Fisheries subsidies - Schemes in fisheries and subsidies - Fisheries trade and environment - Protest against globalization and WTO
Video:
https://www.youtube.com/watch?v=h_ZHsSXSHc4
Session 30
Intellectual property rights (IPR)
An overview -The IP laws of India & its TRIPS compliance - The IP offices in India
Videos:
Session 31
Bio-piracy
Definition and effects of bio-piracy - Inventive requirement and utility requirement - Meaning of Bio prospecting - Globalization
Session 32
GMO and Salient features of Indian patent (Amendment) Act 2005
Meaning of GMOs in fisheries - GMO patent issues and patent laws - Patents in Indian fisheries sector
Videos:
v=30AWw_j7STIhttps://www.youtube.com/watch
Session Plan (Practicals)
Session 1: Analysis of factors affecting quantity demanded and supplied.
Session 2: Analysis of demand curve and supply curve
Session 3: Equilibrium price for fish and fishery product and calculation of equilibrium price
Session 4: Calculation of price elasticity of demand
Session 5: Calculation of price elasticity of supply
Session 6: Analysis of production function
Session 7: Trend analysis of culture and capture fishery
Session 8: Economics and breakeven point of seed production unit
Session 9: Economics and breakeven point of composite fish culture
Session 10: Economics and breakeven point of shrimp farm
Session 11: Enterprise budget for fish processing unit
Session 12: Case study of a fish farm
Session13: Case study of a shrimp farm
Session 14: Case study of a fish market
Session 15: Case study of a Landing center
Session 16: Submission of reports and discussion
Videos:
https://www.youtube.com/watch?v=wjT92CAqu98
https://www.youtube.com/watch?v=EzP5oBPbpjM
Assignment Topics
- The economic impact of overfishing on local communities
- Cost-benefit analysis of fishery management policies
- Market analysis of seafood trade
- Economic valuation of ecosystem services provided by fisheries
- Economic analysis of aquaculture versus wild-caught fisheries
- Economic incentives for sustainable fisheries
- Economic impact of climate change on fisheries
- Economic analysis of recreational fisheries
- Fisheries subsidies and their economic implications
- Economic analysis of fishery cooperatives
Our Main Teachers
Mr. Pritam Tripathy is working as Assistant Professor in the Department of Fisheries, School of Fisheries, CUTM, Paralakhemundi campus on 03rd January 2022. He completed his B.F.Sc from Orissa University of Agriculture & Technology, Odisha, M.F.Sc. in Fisheries Economics from ICAR-Central Institute of Fisheries Education, Mumbai.
Mr. Chandan Haldar is working as Assistant Professor in the School of Fisheries, Centurion University of Technology and Management, Paralakhemundi Campus, Odisha. He has completed his M.F.Sc from ICAR-Central Institute of Fisheries Education, Mumbai, Maharashtra India and his Ph. D. thesis topic is “Identification of Growth Associated SNPs in Clarias magur (Hamilton, 1822) […]