Steve A. Halbrook
Head of the Department
217 Agriculture Building
479-575-2256
http://agribus.uark.edu/

The Department of Agricultural Economics and Agribusiness offers a major with three concentrations that lead to a Bachelor of Science in Agriculture degree. The department also offers a minor in Agricultural Business.

The agricultural business major provides education suited to career opportunities in farm management, agricultural business management, and agricultural marketing in both the domestic and international areas.

Managers of farms and agricultural businesses are continually required to make organizational and operational decisions. The basic skills and knowledge needed for making sound decisions are provided by the agricultural business curriculum. Students may elect to specialize in areas compatible with their personal objectives, depending upon the extent of accounting and business orientation desired.

Students educated in agricultural business are in demand for positions in agricultural industries, farm operation, marketing agencies, agricultural service organizations, state and federal agencies, and numerous other positions. For those who go on to graduate school, teaching and research positions are available with land grant colleges as well as with other institutions. Three concentrations are available to meet career objectives:

  1. Agricultural Business Management and Marketing (ABMM)
  2. Pre-Law, for students preparing to attend law school (PRLW)
  3. Agricultural Economics, which emphasizes quantitative and analytical skills to prepare students for graduate school (AGEC).

Requirements for a Major in Agricultural Business (AGBS)

State minimum core and discipline specific general education requirements:

(Course work that meets state minimum core requirements is in bold.)

Communications6-12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)
Select one of the following:
Communicating Agriculture to the Public (Sp, Su, Fa)
Issues in Agriculture (Fa)
Communication Campaigns in Agriculture (Odd years, Sp)
Advanced Public Speaking (Sp, Su, Fa)
Interpersonal Communication (Sp, Su, Fa)
Introduction to Small-Group Communication (Sp, Su, Fa)
Persuasion (Sp, Su, Fa)
Crop, Soil, and Environmental Sciences Colloquium (Fa)
Advanced Composition (Sp, Su, Fa)
Essay Writing (Sp, Su)
Technical and Report Writing (ACTS Equivalency = ENGL 2023) (Sp, Fa)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa) (or higher MATH course from the University Core excluding MATH 2183)
Science8
Select 2 Science Courses from University Core (8 total hours)
Fine Arts and Humanities 6-7
Select Fine Arts and Humanities Core Courses
Social Sciences (9 hours)9
Select one of the following:
General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Rural Families and Communities (Sp)
Select one of the following:
Principles of Agricultural Microeconomics (Sp, Su, Fa)
Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
Select one of the following:
Principles of Agricultural Macroeconomics (Sp, Fa)
Principles of Macroeconomics (ACTS Equivalency = ECON 2103) (Sp, Su, Fa)
AEAB Requirements33
Agribusiness Financial Records (Sp, Fa)
and Agribusiness Financial Records Lab (Sp, Fa)
Accounting Principles (Sp, Su, Fa)
Introduction to Agribusiness (Sp, Su, Fa)
Food and Agricultural Marketing (Sp, Su, Fa)
Farm Business Management (Sp, Fa)
Agricultural Law I (Fa)
Select two of the following:
Principles of Environmental Economics (Sp)
Agricultural and Rural Development (Fa)
Political Economy of Agriculture and Food (Fa)
International Agricultural Trade and Commercial Policy (Sp)
Select two of the following:
Agribusiness Sales (Sp)
Futures and Options Markets (Fa)
Agricultural Prices and Forecasting (Sp)
Advanced Agricultural Marketing Management (Sp)
Basis Trading: Applied Price Risk Management (Sp, Su)
Select two of the following:
Agricultural Finance (Fa)
Agricultural Business Management (Fa)
AgriBusiness Entrepreneurship (Sp)
Advanced Farm Business Management (Fa)

Additional Requirements for Agribusiness Management and Marketing Concentration (45-52):

Statistics3
Select one of the following:
Quantitative Tools for Agribusiness (Fa)
Data Analysis and Interpretation (Sp, Su, Fa)
Agribusiness Management and Marketing Concentration18
Select two of the following unless used to meet Departmental Core hours:
Agribusiness Sales (Sp)
Futures and Options Markets (Fa)
Principles of Environmental Economics (Sp)
Agricultural Prices and Forecasting (Sp)
Agricultural Finance (Fa)
Agricultural and Rural Development (Fa)
Advanced Agricultural Marketing Management (Sp)
Agricultural Business Management (Fa)
AgriBusiness Entrepreneurship (Sp)
Basis Trading: Applied Price Risk Management (Sp, Su)
Advanced Farm Business Management (Fa)
Political Economy of Agriculture and Food (Fa)
International Agricultural Trade and Commercial Policy (Sp)
Choose 12 hours from MATH, STAT, AGEC or courses in WCOB or the Bumpers College.
General Electives 124-31
Total hours120
1

 New Freshmen will enroll in UNIV 1001 for 1 hour of general elective credit.

Agricultural Business B.S.A. with Management and Marketing Concentration

Eight-Semester Degree Program

Students wishing to follow the degree plan in Agricultural Economics and Agribusiness should see the Eight-Semester Degree Policy in the Academic Regulations chapter for university requirements of the program. The Agricultural Economics and Agribusiness major has three concentrations: Agricultural Business Management and Marketing, Pre-Law, and Agricultural Economics.

First YearUnits
FallSpring
ENGL 1013 Composition I (ACTS Equivalency = ENGL 1013) (Sp, Su, Fa) (Unless Exempt)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa) (or higher math from the University Core excluding MATH 2183)3  
History Core from:3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113) (Sp, Su, Fa)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123) (Sp, Su, Fa)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003) (Sp, Su, Fa)
AGEC 1103 Principles of Agricultural Microeconomics (Sp, Su, Fa)
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
3  
AGME 2903 Agricultural and Human Environmental Sciences Applications of Microcomputers (Sp, Su, Fa) (or ISYS 1120) or Bumpers College Broadening Elective (if ISYS 1120)3  
UNIV 1001 University Perspectives (Sp, Su, Fa)1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Sp, Su, Fa) (Unless Exempt)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)  3
AGEC 2103 Principles of Agricultural Macroeconomics (Sp, Fa)  3
AGEC 2303 Introduction to Agribusiness (Sp, Su, Fa)  3
General Electives  3
Year Total: 16 15
 
Second YearUnits
FallSpring
AGEC 2403 Quantitative Tools for Agribusiness (Fa)
or WCOB 1033 Data Analysis and Interpretation (Sp, Su, Fa)
3  
Fine Arts/Humanities University Core Elective3  
Science University Core Elective4  
AGEC 2142 Agribusiness Financial Records (Sp, Fa)
& AGEC 2141L Agribusiness Financial Records Lab (Sp, Fa)
or ACCT 2013 Accounting Principles (Sp, Su, Fa)
3  
General Elective3  
Select one of the following:  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
HESC 2603 Rural Families and Communities (Sp)
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Science University Core Elective   4
AGEC 3303 Food and Agricultural Marketing (Sp, Su, Fa)  3
Communication Intensive Elective  3
General Elective  2
Year Total: 16 15
 
Third YearUnits
FallSpring
AGEC 3373 Futures and Options Markets (Fa)3  
AGEC 3403 Farm Business Management (Sp, Fa)3  
AGEC 4143 Agricultural Finance (Fa)3  
Specialization Elective 3  
General Elective 3  
Fine Arts/Humanities University Core Elective   3
Select one of the following:  3
AGEC 3413 Principles of Environmental Economics (Sp)
AGEC 4623 International Agricultural Trade and Commercial Policy (Sp)
Specialization Electives  6
General Electives  3
Year Total: 15 15
 
Fourth YearUnits
FallSpring
Select one of the following:3  
AGEC 4163 Agricultural and Rural Development (Fa)
AGEC 4613 Political Economy of Agriculture and Food (Fa)
AGEC 3503 Agricultural Law I (Fa)3  
Specialization Elective6  
General Elective3  
AGEC 4323 AgriBusiness Entrepreneurship (Sp)  3
Select one of the following:  3
AGEC 4113 Agricultural Prices and Forecasting (Sp)
AGEC 4303 Advanced Agricultural Marketing Management (Sp)
Specialization Elective  3
General Elective  4
Year Total: 15 13
 
Total Units in Sequence:  120

Requirements for a Major in Agricultural Business (AGBS)

State minimum core and discipline specific general education requirements:

(Course work that meets state minimum core requirements is in bold.)

Communications6-12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)
Select one of the following:
Communicating Agriculture to the Public (Sp, Su, Fa)
Issues in Agriculture (Fa)
Communication Campaigns in Agriculture (Odd years, Sp)
Advanced Public Speaking (Sp, Su, Fa)
Interpersonal Communication (Sp, Su, Fa)
Introduction to Small-Group Communication (Sp, Su, Fa)
Persuasion (Sp, Su, Fa)
Crop, Soil, and Environmental Sciences Colloquium (Fa)
Advanced Composition (Sp, Su, Fa)
Essay Writing (Sp, Su)
Technical and Report Writing (ACTS Equivalency = ENGL 2023) (Sp, Fa)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa) (or higher MATH course from the University Core excluding MATH 2183)
Science8
Select 2 Science Courses from University Core (8 total hours)
Fine Arts and Humanities 6-7
Select Fine Arts and Humanities Core Courses
Social Sciences (9 hours)9
Select one of the following:
General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Rural Families and Communities (Sp)
Select one of the following:
Principles of Agricultural Microeconomics (Sp, Su, Fa)
Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
Select one of the following:
Principles of Agricultural Macroeconomics (Sp, Fa)
Principles of Macroeconomics (ACTS Equivalency = ECON 2103) (Sp, Su, Fa)
AEAB Requirements33
Agribusiness Financial Records (Sp, Fa)
and Agribusiness Financial Records Lab (Sp, Fa)
Accounting Principles (Sp, Su, Fa)
Introduction to Agribusiness (Sp, Su, Fa)
Food and Agricultural Marketing (Sp, Su, Fa)
Farm Business Management (Sp, Fa)
Agricultural Law I (Fa)
Select two of the following:
Principles of Environmental Economics (Sp)
Agricultural and Rural Development (Fa)
Political Economy of Agriculture and Food (Fa)
International Agricultural Trade and Commercial Policy (Sp)
Select two of the following:
Agribusiness Sales (Sp)
Futures and Options Markets (Fa)
Agricultural Prices and Forecasting (Sp)
Advanced Agricultural Marketing Management (Sp)
Basis Trading: Applied Price Risk Management (Sp, Su)
Select two of the following:
Agricultural Finance (Fa)
Agricultural Business Management (Fa)
AgriBusiness Entrepreneurship (Sp)
Advanced Farm Business Management (Fa)

Additional Requirements for Pre-Law Concentration (46-52 hours):

Statistics3
Select one from the following:
Quantitative Tools for Agribusiness (Fa)
Data Analysis and Interpretation (Sp, Su, Fa)
Pre-Law Concentration18
Environmental and Natural Resources Law (Even years, Sp)
Select 15 hours from at least two of the following areas:
Area 1
The Legal Environment of Business (ACTS Equivalency = BLAW 2003) (Sp, Su, Fa)
Commercial Law (Sp)
Area 2
Advanced Public Speaking (Sp, Su, Fa)
Argumentation: Reason in Communication (Fa)
Persuasion (Sp, Su, Fa)
Introduction to Rhetorical Theory (Fa)
Legal Communication (Irregular)
Area 3
Introduction to Philosophy (ACTS Equivalency = PHIL 1103) (Sp, Su, Fa)
Introduction to Ethics (ACTS Equivalency = PHIL 1003) (Sp, Su, Fa)
Logic (ACTS Equivalency = PHIL 1003) (Sp, Su, Fa)
Ethics and the Professions (Sp, Su, Fa)
Philosophy of Law (Irregular)
Area 4
Public Administration (Sp)
Public Policy (Fa)
The Judicial Process (Fa)
Administrative Law (Sp)
The U.S. Constitution I (Sp)
The U.S. Constitution II (Irregular)
Area 5
AGEC (any upper level)
General Electives 125-31
Total hours120
1

 New freshmen will enroll in UNIV 1001 for 1 hour of general elective credit.

3/3 Program – Agriculture

Exceptional students in the pre-law concentration in the Dale Bumpers College of Agricultural, Food and Life Sciences may enroll in the School of Law in their fourth year provided that all requirements have been met. Students must have:

  • Completed all university, college, and major course requirements for the pre-law concentration;
  • Completed 12 hours in the specialization list for pre-law;
  • Earned a cumulative GPA of at least 3.50 without grade renewal; and
  • Received an LSAT score of at least 159.

A student admitted to this program may substitute School of Law course work for the remaining total hours required for the bachelor’s degree in agricultural business.

It is a requirement of the School of Law’s accrediting standards that no student be admitted to the School of Law until they have completed at least three-fourths of the work necessary for the baccalaureate degree. The requirements embodied in the 3/3 programs satisfy this requirement.

Agricultural Business B.S.A. with Pre-Law Concentration

Eight-Semester Degree Program

Students wishing to follow the degree plan in Agricultural Economics and Agribusiness should see the Eight-Semester Degree Policy in the Academic Regulations chapter for university requirements of the program. The Agricultural Economics and Agribusiness major has three concentrations: Agricultural Business Management and Marketing, Pre-Law, and Agricultural Economics.

First YearUnits
FallSpring
ENGL 1013 Composition I (ACTS Equivalency = ENGL 1013) (Sp, Su, Fa)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa) (or higher MATH course from the University Core excluding MATH 2183)3  
History Core from:3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113) (Sp, Su, Fa)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123) (Sp, Su, Fa)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003) (Sp, Su, Fa)
AGEC 1103 Principles of Agricultural Microeconomics (Sp, Su, Fa)
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
3  
AGME 2903 Agricultural and Human Environmental Sciences Applications of Microcomputers (Sp, Su, Fa) (or ISYS 1120) or General Elective (if ISYS 1120)3  
UNIV 1001 University Perspectives (Sp, Su, Fa)1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Sp, Su, Fa)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)  3
AGEC 2103 Principles of Agricultural Macroeconomics (Sp, Fa)
or ECON 2013 Principles of Macroeconomics (ACTS Equivalency = ECON 2103) (Sp, Su, Fa)
  3
AGEC 2303 Introduction to Agribusiness (Sp, Su, Fa)  3
General Elective  3
Year Total: 16 15
 
Second YearUnits
FallSpring
Communication Intensive Elective3  
AGEC 2403 Quantitative Tools for Agribusiness (Fa)
or WCOB 1033 Data Analysis and Interpretation (Sp, Su, Fa)
3  
Fine Arts/Humanities Elective3  
Science Core Elective4  
AGEC 2142 Agribusiness Financial Records (Sp, Fa)
& AGEC 2141L Agribusiness Financial Records Lab (Sp, Fa)
or ACCT 2013 Accounting Principles (Sp, Su, Fa)
3  
Social Science Core from:  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
HESC 2603 Rural Families and Communities (Sp)
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Science Elective  4
AGEC 3303 Food and Agricultural Marketing (Sp, Su, Fa)  3
General Elective  6
Year Total: 16 16
 
Third YearUnits
FallSpring
Fine Arts/Humanities Elective3  
AGEC 3403 Farm Business Management (Sp, Fa)3  
Select one from the following:3  
AGEC 4143 Agricultural Finance (Fa)
AGEC 4313 Agricultural Business Management (Fa)
AGEC 4403 Advanced Farm Business Management (Fa)
AGEC 3373 Futures and Options Markets (Fa)3  
General Elective3  
AGEC 3413 Principles of Environmental Economics (Sp)
or AGEC 4623 International Agricultural Trade and Commercial Policy (Sp)
  3
AGEC 3523 Environmental and Natural Resources Law (Even years, Sp)  3
Specialization Elective  6
General Elective  3
Year Total: 15 15
 
Fourth YearUnits
FallSpring
AGEC 4163 Agricultural and Rural Development (Fa)
or AGEC 4613 Political Economy of Agriculture and Food (Fa)
3  
AGEC 3503 Agricultural Law I (Fa)3  
Specialization Course6  
General Electives3  
AGEC 4323 AgriBusiness Entrepreneurship (Sp)  3
AGEC 4113 Agricultural Prices and Forecasting (Sp)
or AGEC 4303 Advanced Agricultural Marketing Management (Sp)
  3
Specialization Elective  3
General Electives  3
Year Total: 15 12
 
Total Units in Sequence:  120

Requirements for a Major in Agricultural Business (AGBS)

State minimum core and discipline specific general education requirements:

(Course work that meets state minimum core requirements is in bold.)

Communications6-12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)
Select one of the following:
Communicating Agriculture to the Public (Sp, Su, Fa)
Issues in Agriculture (Fa)
Communication Campaigns in Agriculture (Odd years, Sp)
Advanced Public Speaking (Sp, Su, Fa)
Interpersonal Communication (Sp, Su, Fa)
Introduction to Small-Group Communication (Sp, Su, Fa)
Persuasion (Sp, Su, Fa)
Crop, Soil, and Environmental Sciences Colloquium (Fa)
Advanced Composition (Sp, Su, Fa)
Essay Writing (Sp, Su)
Technical and Report Writing (ACTS Equivalency = ENGL 2023) (Sp, Fa)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa) (or higher MATH course from the University Core excluding MATH 2183)
Science8
Select 2 Science Courses from University Core (8 total hours)
Fine Arts and Humanities 6-7
Select Fine Arts and Humanities Core Courses
Social Sciences (9 hours)9
Select one of the following:
General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Rural Families and Communities (Sp)
Select one of the following:
Principles of Agricultural Microeconomics (Sp, Su, Fa)
Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
Select one of the following:
Principles of Agricultural Macroeconomics (Sp, Fa)
Principles of Macroeconomics (ACTS Equivalency = ECON 2103) (Sp, Su, Fa)
AEAB Requirements33
Agribusiness Financial Records (Sp, Fa)
and Agribusiness Financial Records Lab (Sp, Fa)
Accounting Principles (Sp, Su, Fa)
Introduction to Agribusiness (Sp, Su, Fa)
Food and Agricultural Marketing (Sp, Su, Fa)
Farm Business Management (Sp, Fa)
Agricultural Law I (Fa)
Select two of the following:
Principles of Environmental Economics (Sp)
Agricultural and Rural Development (Fa)
Political Economy of Agriculture and Food (Fa)
International Agricultural Trade and Commercial Policy (Sp)
Select two of the following:
Agribusiness Sales (Sp)
Futures and Options Markets (Fa)
Agricultural Prices and Forecasting (Sp)
Advanced Agricultural Marketing Management (Sp)
Basis Trading: Applied Price Risk Management (Sp, Su)
Select two of the following:
Agricultural Finance (Fa)
Agricultural Business Management (Fa)
AgriBusiness Entrepreneurship (Sp)
Advanced Farm Business Management (Fa)

Additional Requirements for Agricultural Economics Concentration (46-52 hours):

Math and Statistics6-7
Finite Mathematics (Sp, Su, Fa) (or higher MATH course from the University Core excluding MATH 2183)
Select one from the following:
Quantitative Tools for Agribusiness (Fa)
Principles of Experimentation (Fa)
Data Analysis and Interpretation (Sp, Su, Fa)
Statistical Methods (Sp, Fa)
and Statistics Methods Laboratory (Sp, Fa)
Agricultural Economics Concentration15
Microeconomic Theory (Sp, Su, Fa)
Macroeconomic Theory (Sp, Fa)
Choose nine hours from MATH or STAT or upper division electives from AGEC or WCOB.
General Electives 124-31
Total hours120
1

 New freshmen will enroll in UNIV 1001 for 1 hour of general elective credit.

The approved list of courses, check sheet, and degree program for all concentrations is available in the Agricultural Economics and Agribusiness departmental office.

Agricultural Business B.S.A. with Agricultural Economics Concentration

Eight-Semester Degree Program

Students wishing to follow the degree plan in Agricultural Economics and Agribusiness should see the Eight-Semester Degree Policy in the Academic Regulations chapter for university requirements of the program. The Agricultural Economics and Agribusiness major has three concentrations: Agricultural Business Management and Marketing, Pre-Law, and Agricultural Economics.

First YearUnits
FallSpring
ENGL 1013 Composition I (ACTS Equivalency = ENGL 1013) (Sp, Su, Fa)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa)3  
History Core from:3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113) (Sp, Su, Fa)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123) (Sp, Su, Fa)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003) (Sp, Su, Fa)
AGEC 1103 Principles of Agricultural Microeconomics (Sp, Su, Fa)
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203) (Sp, Su, Fa)
3  
AGME 2903 Agricultural and Human Environmental Sciences Applications of Microcomputers (Sp, Su, Fa) (or General Elective)3  
ISYS 1120 Computer Competency Requirement (Sp, Su, Fa) (if not AGME 2903 Application of Microcomputers)0  
UNIV 1001 University Perspectives (Sp, Su, Fa)1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Sp, Su, Fa)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Sp, Su, Fa)  3
AGEC 2103 Principles of Agricultural Macroeconomics (Sp, Fa)
or ECON 2013 Principles of Macroeconomics (ACTS Equivalency = ECON 2103) (Sp, Su, Fa)
  3
AGEC 2303 Introduction to Agribusiness (Sp, Su, Fa)  3
MATH 2053 Finite Mathematics (Sp, Su, Fa)  3
Year Total: 16 15
 
Second YearUnits
FallSpring
Select one from:3  
AGEC 2403 Quantitative Tools for Agribusiness (Fa)
WCOB 1033 Data Analysis and Interpretation (Sp, Su, Fa)
AGST 4023 Principles of Experimentation (Fa)
STAT 4003 Statistical Methods (Sp, Fa) (& STAT 4001L)
Fine Arts/Humanities University Core Elective3  
General Electives3  
Science University Core Elective4  
AGEC 2142 Agribusiness Financial Records (Sp, Fa)
& AGEC 2141L Agribusiness Financial Records Lab (Sp, Fa)
or ACCT 2013 Accounting Principles (Sp, Su, Fa)
3  
Social Science core from:  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103) (Sp, Su, Fa)
HESC 2603 Rural Families and Communities (Sp)
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013) (Sp, Su, Fa)
Science University Core Elective  4
AGEC 3303 Food and Agricultural Marketing (Sp, Su, Fa)  3
General Elective  2
Specialization Elective  3
Year Total: 16 15
 
Third YearUnits
FallSpring
Communication Intensive Elective3  
AGEC 3403 Farm Business Management (Sp, Fa)3  
AGEC 4143 Agricultural Finance (Fa)3  
ECON 3033 Microeconomic Theory (Sp, Su, Fa)3  
AGEC 3373 Futures and Options Markets (Fa)3  
Fine Arts/Humanities Core Elective  3
ECON 3133 Macroeconomic Theory (Sp, Fa)  3
Select one from:  3
AGEC 4113 Agricultural Prices and Forecasting (Sp)
AGEC 4323 AgriBusiness Entrepreneurship (Sp)
AGEC 4373 Basis Trading: Applied Price Risk Management (Sp, Su)
Specialization Elective
General Elective  6
Year Total: 15 15
 
Fourth YearUnits
FallSpring
AGEC 4613 Political Economy of Agriculture and Food (Fa)3  
Choose two of the following:6  
AGEC 4163 Agricultural and Rural Development (Fa)
AGEC 4313 Agricultural Business Management (Fa)
Specialization Elective
AGEC 3503 Agricultural Law I (Fa)3  
General Electives3  
Choose two of the following:  6
AGEC 4113 Agricultural Prices and Forecasting (Sp)
AGEC 4323 AgriBusiness Entrepreneurship (Sp)
AGEC 4373 Basis Trading: Applied Price Risk Management (Sp, Su)
Specialization Elective
General Electives  7
Year Total: 15 13
 
Total Units in Sequence:  120

Minor in Agricultural Business (AGBS-M)

The Agricultural Business Minor will consist of 18 semester hours to include:

AGEC 1103Principles of Agricultural Microeconomics (Sp, Su, Fa)3
Select one of the following:3
Principles of Agricultural Macroeconomics (Sp, Fa)
Introduction to Agribusiness (Sp, Su, Fa)
Select two of the following core electives:6
Food and Agricultural Marketing (Sp, Su, Fa)
Agribusiness Sales (Sp)
Futures and Options Markets (Fa)
Farm Business Management (Sp, Fa)
Principles of Environmental Economics (Sp)
Agricultural Business Management (Fa)
AgriBusiness Entrepreneurship (Sp)
Select six hours from the following controlled electives:6
Any AGEC course not already used
Microeconomic Theory (Sp, Su, Fa)
Macroeconomic Theory (Sp, Fa)
Survey of Calculus (ACTS Equivalency = MATH 2203) (Sp, Su, Fa)
Integrated Poultry Management Systems (Fa)

Additional upper-division courses in the Sam M. Walton College of Business may be substituted with approval, provided prerequisites for those courses have been satisfied outside the minor.  A minimum of six hours of upper-division AGEC courses without substitution is required for the minor.

A student planning to minor in Agricultural Business should contact the program adviser for consultation and more detailed information.

Minor in International Economic Development (INDV-M)

Course Requirements
Successfully complete four of the following five courses:12
Agricultural and Rural Development (Fa)
International Agricultural Trade and Commercial Policy (Sp)
Economic Development, Poverty & the Role of the World Bank and IMF in Low-Income Countries (Sp, Fa)
Emerging Markets (Fa)
International Trade (Sp, Fa)
Take a minimum of 3 hours of pre-approved study abroad experience3
Total Hours15

Courses

AGEC 1103. Principles of Agricultural Microeconomics (Sp, Su, Fa). 3 Hours.

Introduction to agricultural economics, including a survey of the role and characteristics of agriculture businesses in our economic system. Basic economic concepts concerning price determination, profit maximization, and resource use are emphasized. The use of economic principles as applied to the production and marketing decisions made by managers of agricultural firms is demonstrated. Credit will be allowed for only one of AGEC 1103 or ECON 2023 or ECON 2023H. Pre- or Corequisite: MATH 1203.

This course is cross-listed with ECON 2023.

AGEC 1103H. Honors Principles of Agricultural Microeconomics (Sp, Fa). 3 Hours.

Introduction to agricultural economics, including a survey of the role and characteristics of agriculture businesses in our economic system. Basic economic concepts concerning price determination, profit maximization, and resource use are emphasized. The use of economic principles as applied to the production and marketing decisions made by managers of agricultural firms is demonstrated. Credit will be allowed for only one of AGEC 1103 or ECON 2023 or ECON 2023H. Pre- or Corequisite: MATH 1203.

This course is cross-listed with ECON 2023, AGEC 1103.

AGEC 2103. Principles of Agricultural Macroeconomics (Sp, Fa). 3 Hours.

Applications of economics principles to problems of agricultural production, distribution, and income; including a study of the interrelationship between agriculture and other segments of the economy; and the dynamic forces in the economy which affect agriculture. Credit will be allowed for only one of AGEC 2103 or ECON 2013 or ECON 2013H. Pre- or Corequisite: MATH 1203.

This course is cross-listed with ECON 2013.

AGEC 2141L. Agribusiness Financial Records Lab (Sp, Fa). 1 Hour.

A computer lab section for the AGEC 2142 Agribusiness Financial Records class is required to teach students accounting software and spreadsheet applications related to financial record keeping. Corequisite: AGEC 2142. Prerequisite: AGME 2903 or WCOB 1120 and AGEC 1103 or ECON 2023 or ECON 2143.

AGEC 2142. Agribusiness Financial Records (Sp, Fa). 2 Hours.

Principles of small agricultural business management accounting practices are taught to allow students to gain hands-on experience with financial record keeping for a business. Resulting financial statements are analyzed to determine opportunities for enhancing financial efficiency. Corequisite: AGEC 2141L. Prerequisite: AGME 2903 or ISYS 1120 and AGEC 1103 or ECON 2023 or ECON 2143.

AGEC 2303. Introduction to Agribusiness (Sp, Su, Fa). 3 Hours.

Introduction to agribusiness issues as they relate to the food processing, wholesale and retail sectors of the agricultural industry. Coverage of methods and tools agribusiness managers use to evaluate business opportunities. Case studies serve to communicate concepts of product distribution, design, promotion and pricing in the development of a marketing plan. Prerequisite: AGEC 1103 or ECON 2023.

AGEC 2403. Quantitative Tools for Agribusiness (Fa). 3 Hours.

Introduction to quantitative methods used in agricultural economics and agribusiness with an emphasis on skills and techniques that will enhance the ability of students to perform in upper division coursework. Provides an overview of statistical and optimization methods used in research problems, economic theory, and applied decision making activities. Prerequisite: (AGEC 1103 or ECON 2023 or ECON 2143) and (MATH 2043 or MATH 2053).

AGEC 3303. Food and Agricultural Marketing (Sp, Su, Fa). 3 Hours.

Surveys consumer trends in food markets and the marketing activities of the food and fiber system. Emphasizes marketing concepts for both commodities and differentiated food products. Topics include applied consumer and price theory; marketing management; structure and performance of the food system; and current agricultural marketing topics. Prerequisite: AGEC 1103 or ECON 2023 or ECON 2143.

AGEC 3313. Agribusiness Sales (Sp). 3 Hours.

Principles of professional sales and sales management techniques used in food and agricultural firms; develop a professional sales presentation; study current agribusiness industry professional sales persons and sales practices and techniques. Corequisite: Drill. Prerequisite: AGEC 1103 or AGEC 2103 or ECON 2013 or ECON 2023 or ECON 2143 or equivalent.

AGEC 3373. Futures and Options Markets (Fa). 3 Hours.

Theory and mechanics of commodity futures and options markets including trading, margin, fees, etc. Price relationships between cash, futures and options. Fundamental and technical price analysis. Price risk management strategies for producers and users of agricultural commodity marketing plan. Speculative and hedging simulation exercises. Prerequisite: AGEC 1103 or ECON 2023.

AGEC 3403. Farm Business Management (Sp, Fa). 3 Hours.

Application of economic principles for the profitable organization and operation of the farm business. Focuses upon agricultural production management decision-making tools: budgeting techniques (enterprise, partial, cash flow), balance sheet, income statement, cash flow, investment analysis and risk management. Recommended: AGEC 1103 (or ECON 2023), AGEC 2142, and AGME 2903.

AGEC 3413. Principles of Environmental Economics (Sp). 3 Hours.

An introductory, issues-oriented course in the economics of the environment. The course will focus on what is involved in how society makes decisions about environmental quality. The environmental issues important to the State of Arkansas and the United States will be emphasized. Prerequisite: AGEC 1103 or ECON 2023.

This course is cross-listed with ENSC 3413.

AGEC 3413H. Honors Principles of Environmental Economics (Sp). 3 Hours.

An introductory, issues-oriented course in the economics of the environment. The course will focus on what is involved in how society makes decisions about environmental quality. The environmental issues important to the State of Arkansas and the United States will be emphasized. Corequisite: Drill component. Prerequisite: AGEC 1103 or ECON 2023.

This course is cross-listed with AGEC 3413, ENSC 3413.

AGEC 3503. Agricultural Law I (Fa). 3 Hours.

Examination of those areas of law especially applicable to agriculture. Fundamentals of contract law, torts law, and property law will accompany discussion of major areas of agricultural law; acquisition and disposal of farmland; farm tenancies; rights and limitations in the use and ownership of farmland; water law; environmental protection; protection of the productivity of agricultural land; and the law of sales and secured transactions in an agricultural context.

AGEC 3523. Environmental and Natural Resources Law (Even years, Sp). 3 Hours.

Principles of environmental and natural resources law relevant to agriculture, food and the environmental sciences; legal principles relating to regulation of water, air, hazardous substances, land, wildlife, livestock, and water rights. Principles of civil and criminal liabilities and other developing legal and regulatory issues relating to agriculture and natural resources.

AGEC 400V. Special Problems (Sp, Su, Fa). 1-6 Hour.

Special studies and readings conducted under the direct supervision of staff members to satisfy the requirements of individual students. May be repeated for up to 6 hours of degree credit.

AGEC 401V. Internship in Agribusiness (Sp, Su, Fa). 1-6 Hour.

A supervised practical work experience in an agribusiness firm or a governmental or industrial organization having direct impact on agriculture in order to gain professional competence and insight to employment opportunities. Prerequisite: junior standing. May be repeated for up to 8 hours of degree credit.

AGEC 402V. Special Topics (Irregular). 1-3 Hour.

Studies of selected topics in agricultural economics not available in other courses. May be repeated for degree credit.

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, AGST 4023 or STAT 2303 or WCOB 1033) and MATH 2053.

AGEC 4123. Legal Issues in Animal Agriculture (Odd years, Sp). 3 Hours.

An issues-oriented course focusing on the legal issues involved in the production of poultry, swine and livestock. Emphasis will center on the laws, regulations and policy arguments involved in animal confinement, antibiotic use, humane slaughter and veterinary medicine, along with other related issues. The wide range of regulation from local to state to federal, depending on the issue will be studied and discussed.

This course is cross-listed with ANSC 4123, POSC 4123.

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: (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 and 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 4603. Food Economics and Health (Sp). 3 Hours.

This course provides an advanced overview of selected topics in food economics, food and nutrition policy and the interface between nutrition programs and health policy. Students will develop an understanding of economic and policy concepts of food, nutrition, and health. The course emphasizes analytical tools that can be applied to study issues in food, nutrition, and health facing the US and world populations. Prerequisite: AGEC 1103 (or ECON 2023) and AGEC 2403 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 HESC 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).

Bruce L. Ahrendsen, Professor
Kelly J. Bryant, Extension Associate Professor
Mark J. Cochran, Professor
Bruce Lawrence Dixon, Professor
Alvaro Durand-Morat, Adjunct Assistant Professor
Di Fang, Assistant Professor
Archie Flanders, Extension Associate Professor
Harold L. Goodwin Jr., Professor
Steve A. Halbrook, Professor
Quiqiong Huang, Associate Professor
Nathan Kemper, Instructor
Kent F. Kovacs, Assistant Professor
Jeff A. Luckstead, Assistant Professor
Andrew Malcolm McKenzie, Professor
Wayne P. Miller, Extension Professor
Lawton Lanier Nalley, Associate Professor
Rudy Nayga, Professor, Tyson Endowed Chair in Food Policy Economics
Jennie Sheerin Popp, Professor
Michael P. Popp, Professor
Daniel V. Rainey, Associate Professor
Ronald L. Rainey, Professor
Elizabeth Rebecca Rumley, Research Assistant Professor
Rusty W. Rumley, Research Assistant Professor
Hannah E. Shear, Instructor
Michael R. Thomsen, Professor
Eric J. Wailes, Distinguished Professor, L.C. Carter Endowed Chair in Rice and Soybeans
Kenton Bradley Watkins, Professor