Summary: The progress achieved in agricultural economics, particularly in countries like the USA and the USSR, is evident through various theories and practices in the field. Emphasis has been put on the importance of economic analysis in agriculture for effective implementation of policies, with factors like cost of production, marginal utility, and demand and supply playing crucial roles in determining value and prices. Issues such as interest rates in agriculture, rent of land, and distribution of total expenditure among different types of families have been explored. Suggestions for improving agricultural practices include education and training in farm management, promotion of consolidation of land holdings, and attention to agricultural labor issues. The role of agricultural extension in translating technical research to farmers has been highlighted, along with the need for skilled rural leadership to drive agricultural advancements. Additionally, emphasis on efficient data collection, consolidation of holdings, and the use of evaluation methods like the "point scale" for land exchange can contribute to better agricultural outcomes in developing economies.