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Agricultural Economics (AGEC)

1000 Level | 2000 Level | 3000 Level | 4000 Level | 5000 Level

USP Codes are listed in brackets by the 1991 USP code followed by the 2003 USP code (e.g. [M2<>QB]).

1000. Agricultural and Applied Economics Orientation. 2. [F1<>IL] Directs students through a series of short writing and research exercises designed to improve the academic skills of new or prospective agribusiness majors. Also explores cultural diversity, career opportunities and degree requirements for majors, and strategies for using campus resources. (Normally offered fall semester)

1010. Principles of Macroeconomics I. 3. [C2<>CS] A beginning study of how economic society is organized and uses scarce resources to provide for its material wants. National income analysis; business cycles; the banking system; monetary and fiscal policy. Inflation and unemployment. Cross listed with ECON 1010.

1020. Principles of Microeconomics. 3. [C2<>CS] A basic study of value and price theory, monopoly and public policy; markets for productive goods and services; alternative forms of economic organization; international trade. Cross listed with ECON 1020.

2020. Farm and Ranch Business Management. 4. Discusses economic principles, business methods and science applied to organization and operation. Includes measurements of size of business; rate and efficiency of production. (Normally offered fall)

3000. Small Enterprise Management. 3. Discusses tools for managerial decision-making, including demand analysis, input and output decisions, short- vs. long-term decision-making, linear programming, and risk management. Students will apply this knowledge to small-scale production and value-added agriculture, niche markets, and alternative enterprises. Prerequisites: AGEC 1020 or ECON 1020 and MATH 1400.

3400 [4400]. Agricultural Law. 3. [C2<>(none)] Surveys legal issues and principles of practical concern to agriculture and examines legal institutions authorized to carry out laws affecting agriculture. Prerequisite: WA and junior standing. (Normally offered fall semester)

3750 [4750]. Natural Resource Planning and Economics. 3. Economic concepts and rudimentary analytical tools are applied to federal, state and local natural resource planning and management programs. The value of economic input into natural resource policy is examined. Evaluating tradeoffs and resolving conflicts play a particularly important role in the course content. Cross listed with ENR 3750. Prerequisites: QA, WA and junior standing. (Offered spring semester of odd-numbered years)

3860. Economics of World Food and Agriculture. 3. [C2, G1<>G] Explores global food and agricultural issues with a focus on hunger, chronic malnutrition, and diets of people in developing countries. Introduces basic economic concepts pertinent to understanding and analyzing global food markets and prices and to evaluating government policies designed to reduce food insecurity, enhance diets, and promote agricultural development. Cross listed with INST 3860. Prerequisite: An economics principles course. (Normally offered spring semester)

4050. Agribusiness Marketing. 3. Students develop a strategic marketing plan for an agricultural and food product. Content includes study of aspects of the global food industry influencing consumer demand; contemporary topics in food marketing and policy; agricultural supply marketing; marketing research methods; marketing profitability measures; pricing; new product introduction; branding, and industry competitive analysis. Prerequisites: AGEC 1020 or ECON 1020 and MATH 1400. (Normally offered spring semester)

4060. Agribusiness Management. 3. [M3<>(none)] Applies quantitative, economic, financial and managerial analysis to agribusiness sector. Prerequisites: AGEC 1020 and MATH 1400. (Normally offered fall semester)

4070. Agricultural Sales. 3. Applies transactional analysis for understanding human behavior in agribusiness sales. Introduces experimental learning and fundamentals of agribusiness sales. Prerequisites: AGEC 1020 and COJO 1010. (Normally offered spring semester)

4200. Gender and Race in the Economy. 3. [(none)<>D] Focuses on the role gender and race play in the economy; specifically the way that gender and race affect economic outcomes for individuals in the United States. Cross listed with WMST 4200. Dual listed with AGEC 5200. Prerequisites: AGEC 1020 or equivalent, or SOC 1000, or WMST 1080, and WB.

4280. International Food and Farm Cultures. 3. [(none)<>G] Study-tour course in western France of lectures, fieldtrips, and other cultural activities are integrated into a curriculum to study sustainable food cultures and farming systems. Students live with host families and learn about current policies, belief systems and cultural practices that guide food production, consumption and marketing in Europe. Prerequisite: completion of WA and I.

4450. Negotiation. 3. Examines how to use negotiation to resolve conflict and get agreement. Describes conflict; outlines ways to address conflict; examines different negotiation strategies and the impact of cognitive bias, power, ethics, and individual and cultural differences; and explores mediation practices. Students complete negotiations, role-plays, and questionnaires. Cross listed with ENR 4450. Dual listed with AGEC 5450. Prerequisite: Completion of USP O requirement; junior standing.

4460. Agriculture and Economic Development. 3. Examines the roles of agriculture in the transformation of the economics of underdeveloped countries. Examines development theories, case studies and analytical techniques. Prerequisites: AGEC 1010, 1020 and a G course.

4500. Agricultural Finance. 3. Principles of financial management; compounding and discounting; leverage and capital budgeting and alternatives in resource control. Prerequisite: AGEC 1020 or equivalent. (Normally offered fall semester)

4550. Negotiation Analysis. 3. Focuses on using an analytical perspective for maximizing joint gains between negotiators. Students learn analytical techniques to prepare for negotiation, evaluate options and proposals during a negotiation, and evaluate negotiated outcomes with respect to maximization of joint gains and fairness criteria. Dual listed with AGEC 5550; Cross listed with ENR 4550. Prerequisite: QA.

4600. Community Economic Analysis. 3. Analysis of regions and rural communities; their problems, socioeconomic characteristics, land use and economic development. Provides training in regional economic analysis, fiscal impact analysis and benefit cost analysis. Dual listed with AGEC 5600.  Prerequisites: ECON 3010, 3020, and MATH 1400.

4640. Advanced Farm/Ranch Management. 3. [M3<>(none)] Tools of management decision-making applied to problems of farm-ranch management and resource acquisition and use. Prerequisites: AGEC 1020, 2020 and MATH 1400. (Normally offered spring semester)

4660. Community and Economic Development. 3. Community development from an interdisciplinary perspective, integrating theory, concepts and methods from sociology, economics, political science, and community development. Students learn how community theory can be used to design and support effective economic development programs. Includes readings, lectures, guest lectures, field trips and community analysis projects. Dual listed with AGEC 5660. Prerequisites: AGEC/ECON 1020 or SOC 2090 and junior standing.

4700. Economics of Range Resources. 3. Applies economic and decision theory to management and allocation of public and private range resources. Prerequisite: AGEC 1020 or equivalent. (Normally offered fall semester)

4710. Natural Resource Law and Policy. 3. [C2<>(none)] Legal and economic examination of laws intended to resolve environmental conflicts. Surveys economic rationales both for private property and government intervention in environmental disputes; content of selected environmental laws in the U.S.; and basic principles of environmental mediation. Prerequisites: AGEC 1020, ECON 1020 or equivalent and 3 hours of business law or agricultural law; or consent of instructor. (Offered fall semester of even-numbered years)

4720. Water Resource Economics. 3. Presents principles and procedures appropriate to water resource allocation and development decisions. Studies agricultural, recreational, industrial and other uses of water. Includes a field trip. Prerequisite: AGEC 1020 or equivalent; QB course, WB course; senior standing. (Offered fall semester of even-numbered years)

4740. Agricultural Policy. 3. [C2<>(none)] Identifies problems in agriculture and considers alternative programs. Prerequisite: AGEC 1020 or equivalent. (Offered spring semester of odd-numbered years)

4830. Agricultural Commodities and Futures Markets. 3. Economics of price determination for agricultural commodities and development of pricing strategies in cash and futures markets. Prerequisite: AGEC 1020 or equivalent. (Normally offered fall semester)

4840. Agricultural Market Analysis. 3. [C2<>(none)] Applies economic theory to an analysis of economic organization and operation of agricultural markets, including price behavior. Prerequisites: MATH 1400 and ECON 3020. (Offered spring semester of odd-numbered years)

4880. International Agricultural Trade, Markets and Policy. 3. [C2, G1<>G] International agricultural commodity markets, product markets and market channels are characterized and examined. Presents economic theory relevant to description and analysis of international markets. Characterizes and analyzes historical and contemporary U.S. commercial trade policy and agricultural policy and their effect on markets. Prerequisites: AGEC 1010 and 1020 or equivalent and ECON 3020 or consent of instructor. (Offered spring semester of even numbered years)

4890. Special Topics in _____. 1-3 (Max. 6). Accommodates seminar series or course offering by visiting faculty whose subject matter is not included in other courses. Prerequisites: junior standing and/or consent of instructor. (Offered based on sufficient demand and resources)

4910. Problems in Agricultural Economics. 1-3 (Max. 6). Consists of supervised study and investigation on topics of current importance in agricultural economics. Prerequisites: 12 hours in AGEC or ECON and consent of instructor. (Offered fall, spring and summer)

4930. Agricultural Economics Internship. 1-6 (Max. 6). Provides practical agricultural business firm and/or agency experience. Develops working knowledge of how basic economic concepts are used by firms and agencies in policy and procedures development and decision making by the organization. Prerequisites: 10 hours of AGEC and approval of faculty supervisor.

4950. Senior Seminar and Thesis I. 1. [W3<>WC] Beginning of preparation and presentation of senior research thesis relevant to agriculture economics field. Prerequisites: 15 hours of AGEC and/or ECON and WB writing course. (Offered both semesters)

4960. Senior Seminar and Thesis II. 2. [W3<>WC] Final preparation and presentation of senior thesis and writing of final report. Prerequisite: AGEC 4950. (Offered both semesters)

4965. Agribusiness Strategy and Ethics Capstone. 3. [(none)<>WC] Integrates economic theory, strategic management, and ethical principles into management decision analysis related to food, agricultural, and resource-based industries. Students develop the appropriate professional documents, interpersonal communication skills, and oral presentation skills to pursue career in agribusiness management. Emphasis is placed on refining students' professional writing abilities. Prerequisites: senior standing, 15 hours of AGEC and/or ECON and WB writing course.

5200. Gender and Race in the Economy. 3. Focuses on the role gender and race play in the economy; specifically the way that gender and race affect economic outcomes for individuals in the United States. Cross listed with WMST 5200. Dual listed with AGEC 4200. Prerequisites: AGEC 1020 or equivalent, or SOC 1000, or WMST 1080, and WB.

5320. Intermediate Econometric Theory. 3. Covers simple and multiple regression models, problems of estimation, hypothesis and diagnostic testing, dummy variables, autoregressive and distributed lag models, and time-series analysis. The objective is to understand the underlying theory of econometric modeling and obtain operational ability to construct, estimate, and test econometric models. Dual listed with AGEC 4230. Prerequisites: ECON 3020, STAT 2050 and MATH 2350.

5310. Theory of Producer Behavior. 3. Economic models of optimization as they apply to firm-level production decisions. Topics include the properties of production functions, theories of linear and non-linear optimization, firm decision making under perfect and imperfect competition and firm decision making under uncertainty. Prerequisites: ECON 3020, STAT 2050 and MATH 2350.

5320. Quantitative Methods in Agricultural Economics. 3. Covers mathematical programming and simulation techniques for solving applied problems in agricultural economics. Emphasizes the formulation of economic research problems in quantitative terms and the use of computer software packages to derive solutions. Prerequisites: ECON 3020, STAT 2050 and MATH 2350.

5450. Negotiation. 3. Examines how to use negotiation to resolve conflict and get agreement. Describes conflict; outlines ways to address conflict; examines different negotiation strategies and the impact of cognitive bias, power, ethics, and individual and cultural differences; and explores mediation practices. Students complete negotiations, role-plays, and questionnaires. Cross listed with ENR 5450. Dual listed with AGEC 4450. Prerequisite: Completion of USP O requirement; junior standing, or consent of instructor.

5550. Negotiation Analysis. 3. Focuses on using an analytical perspective for maximizing joint gains between negotiators. Students learn analytical techniques to prepare for negotiation, evaluate options and proposals during a negotiation, and evaluate negotiated outcomes with respect to maximization of joint gains and fairness criteria. Dual listed with AGEC 4550; Cross listed with ENR 5550. Prerequisite: QA.

5600. Community Economic Analysis. 3. Analysis of regions and rural communities; their problems, socioeconomic characteristics, land use and economic development. Provides training in regional economic theory, regional economic analysis, fiscal impact analysis and benefit cost analysis. Prerequisite: ECON 3010, 3020 and MATH 1400; or consent of instructor.

5630. Advanced Natural Resource Economics. 3. An in-depth treatment of theoretical issues, quantitative techniques, and institutional arrangements in the natural resource field. Topics include welfare economics, property rights, market failure and externalities, and benefit cost analysis. Prerequisites: ECON 3010 and 3020, STAT 2050 and MATH 2350.

5650. Research Methods. 1. Examines scientific methods as they specifically relate to a masters level research project in applied economics. This includes formulating the research question, developing hypotheses, determining a theoretical framework from which the data gathering and analysis will proceed and lead to reporting research outcomes. Prerequisites: ECON 3010 and 3020, STAT 2050.

5660. Community and Economic Development. 3. Community development from an interdisciplinary perspective, integrating theory, concepts and methods from sociology, economics, political science, and community development. Students learn how community theory can be used to design and support effective economic development programs. Includes readings, lectures, guest lectures, field trips and community analysis projects. Dual listed with AGEC 4660. Prerequisite: AGEC/ECON 1020 or SOC 2090 and junior standing.

5710. Advanced Agricultural Market Theory. 3. Theoretical foundations of the study of agricultural markets and how business is conducted in those markets. Topics include pure competition, industrial organization concepts related to imperfect competition including game theory, principal-agent theory, transaction costs economics, intermediary theory, and welfare implications of alternative agricultural market structures. Prerequisites: ECON 3020 and MATH 2350.

5740. Consumer Behavior and Prices Analysis. 3. Focuses on microeconomic consumer theory and its application. Topics include utility theory, market demand theory, expected utility theory, and econometric applications. Prerequisites: ECON 3020, MATH 2350 and STAT 2050.

5880. Advanced Seminar. 1-2 (Max. 2). Involves reporting to the seminar group on research methods and results obtained in the investigation of a topic or question relevant to the field of agricultural economics. Prerequisite: 9 credits in AGEC and/or ECON.

5890. Advanced Problems in Agricultural Economics. 1-3 (Max. 6). Supervised study and research on current problems in marketing, farm and ranch management, policy prices, land economics or finance. Prerequisite: graduate standing in AGEC or ECON.

5900. Practicum in College Teaching. 1-3 (Max. 3). Work in classroom with a major professor. Expected to give some lectures and gain classroom experience. Prerequisite: graduate status.

5920. Continuing Registration: On Campus. 1-2 (Max. 16). Prerequisite: advanced degree candidacy.

5940. Continuing Registration: Off Campus. 1-2 (Max. 16). Prerequisite: advanced degree candidacy.

5959. Enrichment Studies. 1-3 (Max. 99). Designed to provide an enrichment experience in a variety of topics. Note: Credit in this course may not be included in a graduate program of study for degree purposes.

5960. Thesis Research. 1-12 (Max. 24). Graduate level course designed for students who are involved in research for their thesis project. Also used for students whose coursework is complete and are writing their thesis. Prerequisite: enrolled in a graduate degree program.

5990. Internship. 1-12 (Max. 24). Prerequisite: graduate standing.

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