John D Anderson
Department Head
217 Agriculture Building
479-575-2256

Department of Agricultural Economics and Agribusiness Website

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 and a minor in International Economic Development.   The minor in Agricultural Business can be completed 100% online.

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

Requirements for a Major in Agricultural Business

State minimum core and discipline specific general education requirements:

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

University Requirements
UNIV 1001University Perspectives1
Communications12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003)
Select one of the following:
Communicating Agriculture to the Public
Issues in Agriculture
Communication Campaigns in Agriculture
Advanced Public Speaking
Interpersonal Communication
Introduction to Small-Group Communication
Persuasion
Crop, Soil, and Environmental Sciences Colloquium
Advanced Composition
Essay Writing
Technical and Professional Writing (ACTS Equivalency = ENGL 2023)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (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)
General Sociology (ACTS Equivalency = SOCI 1013)
Rural Families and Communities
Select one of the following:
Principles of Agricultural Microeconomics
Principles of Microeconomics (ACTS Equivalency = ECON 2203)
Select one of the following:
Principles of Agricultural Macroeconomics
Principles of Macroeconomics (ACTS Equivalency = ECON 2103)
AEAB Requirements (33 hours)
AGEC 2143Agribusiness Financial Records3
or ACCT 2013 Accounting Principles
AGEC 2303Introduction to Agribusiness3
AGEC 3303Food and Agricultural Marketing3
AGEC 3403Farm Business Management3
AGEC 3503Agricultural Law I3
Select two of the following from the policy group (AGEC 4603 may be used only in one block):6
Principles of Environmental Economics
Agricultural and Rural Development
Food Economics and Health
Political Economy of Agriculture and Food
International Agricultural Trade and Commercial Policy
Select two of the following from the marketing group (AGEC 4603 may be used only in one block):6
Agribusiness Sales
Futures and Options Markets
Agricultural Prices and Forecasting
Agribusiness Marketing Management
Basis Trading: Applied Price Risk Management
Basis Trading: Case Study
Food Economics and Health
Select two of the following from the management group:6
Agricultural Finance
Agricultural Business Management
AgriBusiness Entrepreneurship
Advanced Farm Business Management
Agribusiness Strategy
Concentration Requirements21
Capstone Experience1-3
Internship in Agribusiness
Agribusiness Capstone
General Electives 21-23
Total Hours120

Additional Requirements for Agricultural Economics Concentration (21 hours):

Math and Statistics (6-7 hours)
MATH 2053Finite Mathematics (or higher MATH course from the state minimum core, excluding MATH 2183)3
Select one from the following:3-4
Quantitative Tools for Agribusiness
Data Analysis and Interpretation
Principles of Statistics (ACTS Equivalency = MATH 2103)
Statistical Methods
and Statistics Methods Laboratory
Agricultural Economics Concentration (15 hours)
ECON 3033Microeconomic Theory3
ECON 3133Macroeconomic Theory3
Choose nine hours from MATH or STAT or upper division electives from AGEC or WCOB.9
Total Hours21

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) (Satisfies General Education Outcome 1.1)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) (Satisfies General Education Outcome 2.1)13  
U.S. History or Government State Minimum Core from (Satisfies General Education Outcome 4.2):3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003)
Satisfies General Education Outcome 3.3:
AGEC 1103 Principles of Agricultural Microeconomics
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203)
3  
General Elective3  
UNIV 1001 University Perspectives1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Satisfies General Education Outcome 1.1)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Satisfies General Education Outcomes 1.2 and 5.1)  3
Satisfies General Education Outcome 3.3:
AGEC 2103 Principles of Agricultural Macroeconomics
or ECON 2013 Principles of Macroeconomics (ACTS Equivalency = ECON 2103)
  3
AGEC 2303 Introduction to Agribusiness (Satisfies General Education Outcome 4.1)  3
MATH 2053 Finite Mathematics  3
Year Total: 16 15
 
Second YearUnits
FallSpring
Select one from:3-4  
AGEC 2403 Quantitative Tools for Agribusiness
WCOB 1033 Data Analysis and Interpretation
STAT 2303 Principles of Statistics (ACTS Equivalency = MATH 2103)
STAT 3003 Statistical Methods (& STAT 4001L)
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2)2, 33  
General Electives43  
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)4  
AGEC 2142
& AGEC 2141L
or ACCT 2013 Accounting Principles
3  
Social Sciences State Minimum Core from (Satisfies General Education Outcome 3.3):  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103)
HDFS 2603 Rural Families and Communities
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013)
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)  4
AGEC 3303 Food and Agricultural Marketing  3
General Electives4  2
AGEC Concentration Elective  3
Year Total: 16 15
 
Third YearUnits
FallSpring
Communication Intensive Elective3  
AGEC 3403 Farm Business Management3  
Management Group Elective3  
Marketing Group Elective3  
ECON 3033 Microeconomic Theory3  
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2)2, 3  3
ECON 3133 Macroeconomic Theory  3
Policy Group Elective  3
General Electives4  6
Year Total: 15 15
 
Fourth YearUnits
FallSpring
AGEC 3503 Agricultural Law I3  
Policy Group Elective3  
Management Group Elective3  
AGEC Concentration Elective3  
General Elective43  
Marketing Group Elective  3
AGEC Concentration Elective  3
Capstone Experience (Satisfies General Education Outcome 6.1)  1-3
General Electives4  6
Year Total: 15 13
 
Total Units in Sequence:  120

Requirements for B.S.A. in Agricultural Business with Management and Marketing Concentration

Requirements for a Major in Agricultural Business

State minimum core and discipline specific general education requirements:

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

University Requirements
UNIV 1001University Perspectives1
Communications12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003)
Select one of the following:
Communicating Agriculture to the Public
Issues in Agriculture
Communication Campaigns in Agriculture
Advanced Public Speaking
Interpersonal Communication
Introduction to Small-Group Communication
Persuasion
Crop, Soil, and Environmental Sciences Colloquium
Advanced Composition
Essay Writing
Technical and Professional Writing (ACTS Equivalency = ENGL 2023)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (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)
General Sociology (ACTS Equivalency = SOCI 1013)
Rural Families and Communities
Select one of the following:
Principles of Agricultural Microeconomics
Principles of Microeconomics (ACTS Equivalency = ECON 2203)
Select one of the following:
Principles of Agricultural Macroeconomics
Principles of Macroeconomics (ACTS Equivalency = ECON 2103)
AEAB Requirements (33 hours)
AGEC 2143Agribusiness Financial Records3
or ACCT 2013 Accounting Principles
AGEC 2303Introduction to Agribusiness3
AGEC 3303Food and Agricultural Marketing3
AGEC 3403Farm Business Management3
AGEC 3503Agricultural Law I3
Select two of the following from the policy group (AGEC 4603 may be used only in one block):6
Principles of Environmental Economics
Agricultural and Rural Development
Food Economics and Health
Political Economy of Agriculture and Food
International Agricultural Trade and Commercial Policy
Select two of the following from the marketing group (AGEC 4603 may be used only in one block):6
Agribusiness Sales
Futures and Options Markets
Agricultural Prices and Forecasting
Agribusiness Marketing Management
Basis Trading: Applied Price Risk Management
Basis Trading: Case Study
Food Economics and Health
Select two of the following from the management group:6
Agricultural Finance
Agricultural Business Management
AgriBusiness Entrepreneurship
Advanced Farm Business Management
Agribusiness Strategy
Concentration Requirements21
Capstone Experience1-3
Internship in Agribusiness
Agribusiness Capstone
General Electives 21-23
Total Hours120

Additional Requirements for Agribusiness Management and Marketing Concentration (21):

Statistics (3 hours)
Select one of the following:3
Quantitative Tools for Agribusiness
Data Analysis and Interpretation
Principles of Statistics (ACTS Equivalency = MATH 2103)
Agribusiness Management and Marketing Concentration (18 hours)
Select two of the following unless used to meet Departmental Core hours:6
Agribusiness Sales
Futures and Options Markets
Principles of Environmental Economics
Agricultural Prices and Forecasting
Agricultural Finance
Agricultural and Rural Development
Agribusiness Strategy
Agribusiness Marketing Management
Agricultural Business Management
AgriBusiness Entrepreneurship
Basis Trading: Applied Price Risk Management
Basis Trading: Case Study
Advanced Farm Business Management
Food Economics and Health
Political Economy of Agriculture and Food
International Agricultural Trade and Commercial Policy
Choose 12 hours from MATH, STAT, AGEC or courses in WCOB or the Bumpers College.12
Total Hours21

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) (Unless Exempt) (Satisfies General Education Outcome 1.1)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) ((or higher math from the State Minimum Core excluding MATH 2183) (Satisfies General Education Outcome 2.1)13  
U.S. History or Government State Minimum Core from (Satisfies General Education Outcome 4.2):3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003)
Satisfies General Education Outcome 3.3:
AGEC 1103 Principles of Agricultural Microeconomics
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203)
3  
General Elective3  
UNIV 1001 University Perspectives1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Unless Exempt (Satisfies General Education Outcome 1.1)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Satisfies General Education Outcomes 1.2 and 5.1)  3
AGEC 2103 Principles of Agricultural Macroeconomics (Satisfies General Education Outcome 3.3)  3
AGEC 2303 Introduction to Agribusiness (Satisfies General Education Outcome 4.1)  3
General Elective  3
Year Total: 16 15
 
Second YearUnits
FallSpring
Select one from:3  
AGEC 2403 Quantitative Tools for Agribusiness
STAT 2303 Principles of Statistics (ACTS Equivalency = MATH 2103)
WCOB 1033 Data Analysis and Interpretation
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2)2, 33  
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)4  
AGEC 2142
& AGEC 2141L
or ACCT 2013 Accounting Principles
0-3  
General Elective43  
Select one of the following (Satisfies General Education Outcome 3.3):  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103)
HDFS 2603 Rural Families and Communities
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013)
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)  4
AGEC 3303 Food and Agricultural Marketing  3
Communication Intensive Elective  3
General Elective4  2
Year Total: 13-16 15
 
Third YearUnits
FallSpring
AGEC 3403 Farm Business Management3  
Marketing Group Elective3  
Management Group Elective3  
ABMM Concentration Elective 3  
General Elective43  
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2) 2, 3  3
Policy Group Elective  3
ABMM Concentration Electives  6
General Elective4  3
Year Total: 15 15
 
Fourth YearUnits
FallSpring
AGEC 3503 Agricultural Law I3  
Policy Group Elective3  
ABMM Concentration Electives6  
General Elective43  
Management Group Elective  3
Marketing Group Elective  3
ABMM Concentration Elective  3
Capstone Experience (Satisfies General Education Outcome 6.1)  1-3
General Elective4  3
Year Total: 15 13
 
Total Units in Sequence:  117-120

Requirements for B.S.A. in Agricultural Business with Pre-Law Concentration 

Requirements for a Major in Agricultural Business

State minimum core and discipline specific general education requirements:

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

University Requirements
UNIV 1001University Perspectives1
Communications12
Select English Core Courses (6 hours unless exempt)
Public Speaking (ACTS Equivalency = SPCH 1003)
Select one of the following:
Communicating Agriculture to the Public
Issues in Agriculture
Communication Campaigns in Agriculture
Advanced Public Speaking
Interpersonal Communication
Introduction to Small-Group Communication
Persuasion
Crop, Soil, and Environmental Sciences Colloquium
Advanced Composition
Essay Writing
Technical and Professional Writing (ACTS Equivalency = ENGL 2023)
U.S. History or Government3
Select U.S. History or Government Core Course
Mathematics3
Survey of Calculus (ACTS Equivalency = MATH 2203) (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)
General Sociology (ACTS Equivalency = SOCI 1013)
Rural Families and Communities
Select one of the following:
Principles of Agricultural Microeconomics
Principles of Microeconomics (ACTS Equivalency = ECON 2203)
Select one of the following:
Principles of Agricultural Macroeconomics
Principles of Macroeconomics (ACTS Equivalency = ECON 2103)
AEAB Requirements (33 hours)
AGEC 2143Agribusiness Financial Records3
or ACCT 2013 Accounting Principles
AGEC 2303Introduction to Agribusiness3
AGEC 3303Food and Agricultural Marketing3
AGEC 3403Farm Business Management3
AGEC 3503Agricultural Law I3
Select two of the following from the policy group (AGEC 4603 may be used only in one block):6
Principles of Environmental Economics
Agricultural and Rural Development
Food Economics and Health
Political Economy of Agriculture and Food
International Agricultural Trade and Commercial Policy
Select two of the following from the marketing group (AGEC 4603 may be used only in one block):6
Agribusiness Sales
Futures and Options Markets
Agricultural Prices and Forecasting
Agribusiness Marketing Management
Basis Trading: Applied Price Risk Management
Basis Trading: Case Study
Food Economics and Health
Select two of the following from the management group:6
Agricultural Finance
Agricultural Business Management
AgriBusiness Entrepreneurship
Advanced Farm Business Management
Agribusiness Strategy
Concentration Requirements21
Capstone Experience1-3
Internship in Agribusiness
Agribusiness Capstone
General Electives 21-23
Total Hours120

Additional Requirements for Pre-Law Concentration (21 hours):

Statistics (3 hours)
Select one from the following:3
Quantitative Tools for Agribusiness
Data Analysis and Interpretation
Principles of Statistics (ACTS Equivalency = MATH 2103)
Pre-Law Concentration (18 hours)
AGEC 3523Environmental and Natural Resources Law3
Select 15 hours from at least two of the following areas:15
Area 1
The Legal Environment of Business (ACTS Equivalency = BLAW 2003)
Commercial Law
Area 2
Advanced Public Speaking
Argumentation: Reason in Communication
Persuasion
Introduction to Rhetorical Theory
Legal Communication
Area 3
Introduction to Philosophy (ACTS Equivalency = PHIL 1103)
Introduction to Ethics (ACTS Equivalency = PHIL 1003)
Logic (ACTS Equivalency = PHIL 1003)
Ethics and the Professions
Philosophy of Law
Area 4
Public Administration
Public Policy
The Judicial Process
Administrative Law
The U.S. Constitution I
The U.S. Constitution II
Area 5
AGEC (any upper level)
Total Hours21

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) (Satisfies General Education Outcome 1.1)3  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203) (or higher MATH course from the State Minimum Core excluding MATH 2183 (Satisfies General Education Outcome 2.1)13  
U.S. History or Government State Minimum Core from (Satisfies General Education Outcome 4.2):3  
HIST 2003 History of the American People to 1877 (ACTS Equivalency = HIST 2113)
HIST 2013 History of the American People, 1877 to Present (ACTS Equivalency = HIST 2123)
PLSC 2003 American National Government (ACTS Equivalency = PLSC 2003)
Satisfies General Education Outcome 3.3:
AGEC 1103 Principles of Agricultural Microeconomics
or ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203)
3  
General Elective3  
UNIV 1001 University Perspectives1  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023) (Satisfies General Education Outcome 1.1)  3
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003) (Satisfies General Education Outcomes 1.2 and 5.1)  3
Satisfies General Education Outcome 3.3:
AGEC 2103 Principles of Agricultural Macroeconomics
or ECON 2013 Principles of Macroeconomics (ACTS Equivalency = ECON 2103)
  3
AGEC 2303 Introduction to Agribusiness (Satisfies General Education Outcome 4.1)  3
General Electives  3
Year Total: 16 15
 
Second YearUnits
FallSpring
Communication Intensive Elective3  
Select one from:3  
AGEC 2403 Quantitative Tools for Agribusiness
STAT 2303 Principles of Statistics (ACTS Equivalency = MATH 2103)
WCOB 1033 Data Analysis and Interpretation
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2)2, 33  
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)4  
AGEC 2143 Agribusiness Financial Records3  
Social Sciences State Minimum Core from (Satisfies General Education Outcome 3.3):  3
PSYC 2003 General Psychology (ACTS Equivalency = PSYC 1103)
HDFS 2603 Rural Families and Communities
SOCI 2013 General Sociology (ACTS Equivalency = SOCI 1013)
Science State Minimum Core Elective (Satisfies General Education Outcome 3.4)  4
AGEC 3303 Food and Agricultural Marketing  3
General Electives  6
Year Total: 16 16
 
Third YearUnits
FallSpring
Fine Arts or Humanities State Minimum Core Elective (Satisfies General Education Outcome 3.1 or 3.2)2, 33  
AGEC 3403 Farm Business Management3  
Management Group Elective3  
Marketing Group Elective3  
General Elective43  
Policy Group Elective  3
AGEC 3523 Environmental and Natural Resources Law  3
PRLW Concentration Electives  6
General Elective4  3
Year Total: 15 15
 
Fourth YearUnits
FallSpring
AGEC 3503 Agricultural Law I3  
Policy Group Elective3  
PRLW Concentration Electives6  
General Elective43  
Management Group Elective  3
Marketing Group Elective  3
PRLW Concentration Electives  3
Capstone Experience (Satisfies General Education Outcome 6.1)  1-3
General Elective4  2
Year Total: 15 12
 
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 Microeconomics3
Select one of the following:3
Principles of Agricultural Macroeconomics
Introduction to Agribusiness
Select two of the following core electives:6
Food and Agricultural Marketing
Agribusiness Sales
Futures and Options Markets
Farm Business Management
Principles of Environmental Economics
Agricultural Business Management
AgriBusiness Entrepreneurship
Select six hours from the following controlled electives:6
Any AGEC course not already used
Microeconomic Theory
Macroeconomic Theory
Survey of Calculus (ACTS Equivalency = MATH 2203)
Integrated Poultry Management Systems

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
International Agricultural Trade and Commercial Policy
Economics of the Developing World
Emerging Markets
International Trade
Take a minimum of 3 hours of pre-approved study abroad experience3
Total Hours15

Faculty

Ahrendsen, Bruce L., Ph.D., M.S. (North Carolina State University), B.S. (Iowa State University), Professor, 1990, 2007.
Anderson, John D., Ph.D. (Oklahoma State University), M.S. (Arkansas State University), B.S. (College of the Ozarks), Professor, 2020.
Cochran, Mark J., Ph.D., M.S. (Michigan State University), B.S. (New Mexico State University), Professor, 1982, 1991.
Dixon, Bruce Lawrence, Ph.D., M.S. (University of California-Davis), B.A. (University of California-Santa Barbara), Professor, 1984, 1986.
Durand-Morat, Alvaro, Ph.D., M.S. (University of Arkansas), B.S.E. (National University of Entre Rios), Assistant Professor, 2016.
Fang, Di, Ph.D., W.P. (Arizona State University), B.A. (Nankai University), Assistant Professor, 2015.
Fields, Deacue, Ph.D. (Louisiana State University), M.S. (University of Missouri), B.S. (Southern University), Professor, 2017.
Huang, Quiqiong, Ph.D. (University of California-Davis), B.S. (Remin University of China), Professor, 2013, 2018.
Kemper, Nathan, Ph.D., M.S. (University of Arkansas), B.S. (Missouri State University), Clinical Professor, 2014.
Kovacs, Kent F., Ph.D. (University of California-Davis), B.A. (Vassar College), Associate Professor, 2012, 2018.
Luckstead, Jeff A., Ph.D. (Washington State University), M.S., B.S. (University of Idaho), Associate Professor, 2013, 2018.
McKenzie, Andrew Malcolm, Ph.D. (North Carolina State University), M.Sc. (Stirling University), B.Admin. (University of Dundee), Professor, 1998, 2010.
Miller, Wayne P., Ph.D. (University of Wisconsin), M.S. (University of Illinois), B.S. (Purdue University), Extension Professor, 1992.
Mitchell, James, Ph.D. (Kansas State University), M.S., B.S. (Oklahoma State University), Extension Assistant Professor, 2020.
Nalley, Lawton Lanier, Ph.D. (Kansas State University), M.S. (Mississippi State University), B.S. (The Ohio State University), Professor, 2008, 2018.
Nayga, Rodolfo, Ph.D. (Texas A&M University), M.S. (University of Delaware), B.S. (Foreign Institution), Distinguished Professor, Tyson Endowed Chair in Food Policy Economics, 2009.
Popp, Jennie Sheerin, Ph.D., M.S. (Colorado State University), B.S. (University of Scranton), Professor, 1998, 2010.
Popp, Michael P., Ph.D. (Colorado State University), M.B.A. (University of Colorado-Boulder), B.Comm. (University of Manitoba), Professor, 1998, 2006.
Rainey, Daniel V., Ph.D., M.S. (Purdue University), B.S.A. (University of Arkansas), Associate Professor, 2000, 2006.
Rainey, Ronald L., Ph.D., M.S., B.S.A. (University of Arkansas), Professor, 1993, 2012.
Rumley, Elizabeth Rebecca, LL.M. (University of Arkansas), J.D. (University of Toledo), B.A. (Michigan State University), Research Assistant Professor, 2008.
Rumley, Rusty W., J.D. (University of Oklahoma), Research Assistant Professor, 2009.
Tester, Colson, M.S., B.S. (University of Arkansas), Instructor, 2020.
Thomsen, Michael R., Ph.D. (University of Minnesota-Morris), M.S., B.S. (Utah State University), Professor, 1998, 2015.
Watkins, Kenton Bradley, Ph.D. (Oklahoma State University), M.S., B.A. (University of Arkansas), Professor, 2002, 2014.

Courses

AGEC 1103. Principles of Agricultural Microeconomics. 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. (Typically offered: Fall, Spring and Summer)
This course is cross-listed with ECON 2023.

AGEC 1103H. Honors Principles of Agricultural Microeconomics. 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. (Typically offered: Fall and Spring)
This course is cross-listed with ECON 2023, AGEC 1103.

AGEC 2103. Principles of Agricultural Macroeconomics. 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 AGEC 2103H or ECON 2013 or ECON 2013H. Pre- or Corequisite: MATH 1203. (Typically offered: Fall and Spring)
This course is cross-listed with ECON 2013.

AGEC 2103H. Honors Principles of Agricultural Macroeconomics. 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 AGEC 2103H or ECON 2013 or ECON 2013H. Pre- or Corequisite: MATH 1203. Prerequisite: Honors standing. (Typically offered: Fall and Spring)
This course is cross-listed with ECON 2013, AGEC 2103.

AGEC 2143. Agribusiness Financial Records. 3 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. Prerequisite: (ASTM 2903 or ISYS 1120 or ISYS 1123) and (AGEC 1103 or ECON 2023 or ECON 2143). (Typically offered: Fall)

AGEC 2303. Introduction to Agribusiness. 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. (Typically offered: Fall, Spring and Summer)

AGEC 2403. Quantitative Tools for Agribusiness. 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 higher MATH course from the University Core excluding MATH 2183). (Typically offered: Fall)

AGEC 3303. Food and Agricultural Marketing. 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. (Typically offered: Fall, Spring and Summer)

AGEC 3313. Agribusiness Sales. 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. Prerequisite: AGEC 1103 or AGEC 2103 or ECON 2013 or ECON 2023 or ECON 2143 or equivalent. (Typically offered: Spring)

AGEC 3373. Futures and Options Markets. 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. (Typically offered: Fall)

AGEC 3403. Farm Business Management. 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 2143, and ASTM 2903. (Typically offered: Fall, Spring and Summer)

AGEC 3413. Principles of Environmental Economics. 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. (Typically offered: Spring)
This course is cross-listed with ENSC 3413.

AGEC 3413H. Honors Principles of Environmental Economics. 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. (Typically offered: Spring)
This course is cross-listed with AGEC 3413, ENSC 3413.

AGEC 3503. Agricultural Law I. 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. (Typically offered: Fall)

AGEC 3523. Environmental and Natural Resources Law. 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. (Typically offered: Spring Even Years)

AGEC 400V. Special Problems. 1-6 Hour.

Special studies and readings conducted under the direct supervision of staff members to satisfy the requirements of individual students. (Typically offered: Fall, Spring and Summer) May be repeated for up to 6 hours of degree credit.

AGEC 401V. Internship in Agribusiness. 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. (Typically offered: Fall, Spring and Summer) May be repeated for up to 8 hours of degree credit.

AGEC 402V. Special Topics. 1-3 Hour.

Studies of selected topics in agricultural economics not available in other courses. (Typically offered: Irregular) May be repeated for degree credit.

AGEC 4041. Agribusiness Capstone. 1 Hour.

The purpose of this course is to provide students with an opportunity to apply and integrate knowledge from previous coursework in general education and agribusiness. This course is designed for students to demonstrate mastery of a number of subjects within the agribusiness discipline. Students will provide evidence of integrated knowledge through a variety of means including oral presentations, creation of a 1250-word reflective essay, and applying problem solving and critical thinking skills. Prerequisite: Senior standing. (Typically offered: Fall and Spring)

AGEC 4113. Agricultural Prices and Forecasting. 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. Prerequisite: ((AGEC 1103 or ECON 2023) and (AGEC 2403 or STAT 2303 or WCOB 1033) and (MATH 2043 or higher, excluding MATH 2183)). (Typically offered: Spring)

AGEC 4123. Legal Issues in Animal Agriculture. 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. (Typically offered: Spring Odd Years)
This course is cross-listed with ANSC 4123, POSC 4123.

AGEC 4143. Agricultural Finance. 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 2143 or ACCT 2013). (Typically offered: Fall)

AGEC 4163. Agricultural and Rural Development. 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). (Typically offered: Fall)

AGEC 4163H. Honors Agricultural and Rural Development. 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) and honors standing. (Typically offered: Fall)
This course is equivalent to AGEC 4163.

AGEC 4243. Agribusiness Strategy. 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: MATH 2043 and (AGEC 1103 or ECON 2023 or ECON 2143) and (AGEC 3403 or AGEC 2143 or ACCT 2013). (Typically offered: Spring)

AGEC 4303. Agribusiness Marketing Management. 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. (Typically offered: Spring)

AGEC 4313. Agricultural Business Management. 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. Senior standing recommended. Prerequisite: (AGEC 2143 or ACCT 2013) and AGEC 2303. (Typically offered: Fall)

AGEC 4323. AgriBusiness Entrepreneurship. 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. (Typically offered: Spring)

AGEC 4373. Basis Trading: Applied Price Risk Management. 3 Hours.

This course provides students an opportunity to gain a detailed working knowledge of how basis trading concepts and practices are applied to agricultural markets and to develop a skill set that can be put immediately into practice in any basis trading operation. Prerequisite: AGEC 3373 or consent of instructor. (Typically offered: Spring and Summer)

AGEC 4383. Basis Trading: Case Study. 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. (Typically offered: Fall)

AGEC 4403. Advanced Farm Business Management. 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. Senior standing recommended. Prerequisite: AGEC 3403 and (ASTM 2903 or equivalent) and (AGEC 2143 or ACCT 2013). (Typically offered: Fall)

AGEC 4603. Food Economics and Health. 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 WCOB 1033 or STAT 2303 or MATH 2043 or MATH 3083 or MATH 3013). (Typically offered: Spring)

AGEC 4613. Political Economy of Agriculture and Food. 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 HDFS 2603). (Typically offered: Fall)

AGEC 4623. International Agricultural Trade and Commercial Policy. 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). (Typically offered: Spring)