AGEC 4113. Agricultural Prices and Forecasting (Sp). 3 Hours.
Price theory and techniques for predicting price behavior of general economy and price behavior of individual agricultural products will be analyzed. Provides practice in the application of economics and statistics to agricultural price analysis. Lecture 2 hours, laboratory 2 hours per week. Prerequisite: AGEC 1103 (or ECON 2023), AGEC 2403, (introductory statistics AGST 4023 or STAT 2303 or WCOB 1033) and MATH 2053.
AGEC 4143. Agricultural Finance (Fa). 3 Hours.
Methods and procedures whereby agricultural firms acquire and utilize funds required for their successful operation. Emphasis is placed upon role of finance and financial planning and consideration is given to an understanding of financial firms serving agriculture. Prerequisite(s): (AGEC 1103 or ECON 2023) and (AGEC 2103 or ECON 2013) and (AGEC 2142 or AGEC 2143 or ACCT 2013 or WCOB 1023).
AGEC 4163. Agricultural and Rural Development (Fa). 3 Hours.
Examination of agricultural and rural development issues in less developed countries. Alternative agricultural production systems are compared, development theories examined, and consideration given to the planning and implementation of development programs. Prerequisite: AGEC 1103 (or ECON 2023).
AGEC 4303. Advanced Agricultural Marketing Management (Sp). 3 Hours.
Marketing concepts will be developed and applied to the global food and fiber system. The course will use both commodity and product marketing principles and economic theory to analyze varied marketing situations. Case studies will be used to demonstrate the role that demand analysis and consumer behavior play in market management. Prerequisite: AGEC 2303 and AGEC 3303.
AGEC 4313. Agricultural Business Management (Fa). 3 Hours.
The planning, organizing, leading and controlling functions of management as they relate to agricultural business firms. Marketing of value-added products, budgeting, organizational structure, cost control, financial statements, capital budgeting and employee supervision and motivation. Case studies are used to teach communication and decision-making skills. Prerequisite: (AGEC 2142/AGEC 2141L or AGEC 2143) or equivalent, AGEC 2303 or equivalent, and senior standing is recommended.
AGEC 4323. AgriBusiness Entrepreneurship (Sp). 3 Hours.
Agribusiness entrepreneurship is the process of bringing food or rural-based products and services from conceptualization to market. The course presents the opportunities, problems and constraints facing individuals and firms operating in rural or isolated markets while emphasizing the steps in conceptualization, development, marketing, and delivery-selling of agribusiness rural products. Prerequisite: AGEC 1103 or equivalent.
AGEC 4373. Basis Trading: Applied Price Risk Management (Sp, Su). 3 Hours.
Use of futures markets as risk shifting institutions. Students design and implement hedging and cross hedging strategies for grain farmers, country elevators, soybean crushers, poultry firms, etc. Spreadsheets and statistical techniques are used to develop optimal hedging ratios. Prerequisite: AGEC 3373 or consent of instructor.
AGEC 4383. Basis Trading: Case Study (Fa). 3 Hours.
This course provides an opportunity to apply principles learned in AGEC 4373 to grain merchandising using the case study approach. The course will involve in-class meetings supplemented with faculty-directed group-based learning experiences involving professional grain merchandisers. Group activities will follow the traditional case study method. Prerequisite: AGEC 4373.
AGEC 4403. Advanced Farm Business Management (Fa). 3 Hours.
Principles and procedures of decision making as applied to the allocation of resources in the farm business for profit maximization. Emphasis is placed on use of principles of economics and their application to the decision making process. Includes exercises on the application of principles to specific farm management problems. Prerequisite: AGEC 3403 and AGME 2903 or equivalent.
AGEC 4613. Political Economy of Agriculture and Food (Fa). 3 Hours.
Agricultural and food policies are studied from domestic and international perspectives. Laws, regulations, decisions and actions by governments and other institutions are examined in terms of rationale, content, and consequences. Economic and political frameworks are used to assess policies in terms competitive structure, operation, and performance of farming and food systems. Prerequisite: (AGEC 1103 or ECON 2023) and (AGEC 2103 or ECON 2013) and (PSYC 2003 or SOCI 2013 or RSOC 2603).
AGEC 4623. International Agricultural Trade and Commercial Policy (Sp). 3 Hours.
Analysis of agricultural market competition and performance in a global economy. The impact of domestic and international agricultural policies on domestic and international markets and welfare. Economic principles applied to the interaction of economic events in the world food economy. Prerequisite: (AGEC 1103 or ECON 2023) and (AGEC 2103 or ECON 2013).
AGEC 500V. Special Problems (Sp, Su, Fa). 1-3 Hour.
Individual reading and investigation of a special problem in agricultural economics not available under regular courses, under the supervision of the graduate faculty. Prerequisite: Graduate standing.
AGEC 5011. Seminar (Sp, Fa). 1 Hour.
Presentation and discussion of graduate student research. Formal presentations are made by all graduate students. Consideration given to research design, procedures, and presentation of results. Prerequisite: Graduate standing.
AGEC 502V. Special Topics (Irregular). 1-3 Hour.
Advanced studies of selected topics in agricultural economics not available in other courses. Prerequisite: Graduate standing. May be repeated for degree credit.
AGEC 503V. Internship in Agricultural Economics (Sp, Su, Fa). 1-3 Hour.
On-the-job application of skills developed in the M.S. program.
AGEC 5103. Agricultural Microeconomics (Fa). 3 Hours.
Masters-level training in agricultural microeconomic theory and its application to food, agriculture and the environment. The course covers behavior of firms, households and markets, in more depth and rigor than encountered in undergraduate courses. Theories are explained and then applied to relevant food, agricultural, environment and resource issues.
AGEC 5133. Agricultural and Environmental Resource Economics (Sp). 3 Hours.
An economic approach to problems of evaluating private and social benefits and costs of altering the environment. Emphasis given to the interaction of individuals, institutions, and technology in problems of establishing and maintaining an acceptable level of environmental quality. Prerequisite: Minimum of 3 hours Agricultural Economics or Economics at 3000 level or higher or PhD standing.
AGEC 5143. Financial Management in Agriculture (Fa). 3 Hours.
Covers advanced topics in agricultural finance. The general focus of the course is the financial management of non-corporate firms. Covers the basic tools of financial analysis including financial arithmetic, asset evaluation under risk, and financial analysis and planning using econometric models. Such topics covered include management of current assets, capital budgeting, capital structure, and institutions involved in agricultural finance. Prerequisite: Graduate standing.
AGEC 5153. The Economics of Public Policy (Sp). 3 Hours.
This class will examine the impact of public policy on agricultural and other business sectors as well as households and individuals, particular in rural areas. Emphasis will also be placed on analyzing the potential impact of future policy changes. The course will focus on the application of welfare criteria and economic analyses to the problems and policies affecting resource adjustments in agriculture and rural communities. Prerequisite: Graduate standing.
AGEC 5303. Agricultural Marketing Theory (Fa). 3 Hours.
Survey of the structure of agricultural product and factor markets including a critique of theoretical analyses of industry structure, conduct and performance; and a review of market structure research in agricultural industries. Prerequisite: Graduate standing.
AGEC 5403. Quantitative Methods for Agribusiness (Fa). 3 Hours.
Application of quantitative techniques used to support managerial decision-making and resource allocation in agricultural firms. Provides exposure to mathematical and statistical tools (regression analysis, mathematical programming, simulation) used in economic analysis in agriculture. Emphasis is placed on computer applications with conceptual linkage to economic theory. Prerequisite: Graduate standing.
AGEC 5413. Agribusiness Strategy (Sp). 3 Hours.
Addresses problems of strategy formulation in agribusiness emphasizing current problems and cases in agriculture. Surveys modern and classic perspectives on strategy with applications to agribusiness. Examines the development of firm level strategies within the structure and competitive environment of agricultural firms and industries. Prerequisite: Graduate standing.
AGEC 5613. Econometrics (Sp). 3 Hours.
Use of economic theory and statistical methods to estimate economic models. The single equation model is examined emphasizing multicollinearity, autocorrelation, heteroskedasticity, binary variables and distributed lags and model specification. Prerequisite: MATH 2043 and knowledge of matrix methods, (which may be acquired as a corequisite), and (AGEC 1103 or ECON 2023) and (AGEC 2403 or AGST 4023 or STAT 2303 or WCOB 1033).
AGEC 5623. Quantitative Food and Agricultural Policy Analysis ( Sp). 3 Hours.
Introduction to applied analysis of domestic and international food and agricultural policies using quantitative tools. This course will provide hands-on experience with simulation modeling in microeconomics. An emphasis is placed on policy analysis through computer applications with theoretical underpinnings. Prerequisite: (AGEC 5103 and AGEC 5403) or Instructor Consent.
AGEC 5713. Food Safety Law (Irregular). 3 Hours.
This course provides students with an introduction to food law and policy, history of food regulation, the organization of federal food law and regulatory agencies, government inspection and enforcement powers, food safety standards, food labeling, food advertising and product liability. Web-based course.
AGEC 5723. Bioenergy and Resource Economics (Even years, Fa). 3 Hours.
This course surveys the allocation and conservation of natural resources from a perspective of optimal use and the sustainability of resources. The development and distribution issues relating to energy, land, water, and other resource areas are addressed in the course, with emphasis placed on the bioproducts and bioenergy concerns.
AGEC 5733. Bioenergy Economics and Sustainability (Fa). 3 Hours.
This course will provide an understanding of the economic issues relating to overall supply chains producing bioenergy and bio-based products. The course will address the economic, sustainability and social dimensions of these industries.
AGEC 600V. Master's Thesis (Sp, Su, Fa). 1-6 Hour.
Prerequisite: Graduate standing.
AGEC 700V. Doctoral Dissertation (Sp, Su, Fa). 1-18 Hour.