courses/catalog/undergraduate/ugrad2002Home
courses/catalog/undergraduate/ugrad2002
Enter either a:
  • Person's name (faculty, staff, or student)
  • Department name
  • Word to find on a web page

    More Search Options
  •  
    K-State Undergraduate Catalog 2002-2004
    About the Catalog
    About the University
    Calendar
    Glossary and Abbreviations
    Admission
    Academic Advising
    Enrollment
    Tuition and Fees
    Degrees
    Grades
    All-University Regulations
    Student Financial Assistance
    Services for Students
    Auxiliary Services and Facilities
    International Programs
    Secondary Majors
    Agriculture
    dGeneral Requirements
    dUniversity General Education
    dProgram Choices
    dGeneral Agriculture
    dAgricultural Economics
    dAgricultural Education
    dAgricultural Technology Management
    dAgronomy
    dAnimal Sciences and Industry
    dCommunications
    dEntomology
    dFood Science and Industry
    dGrain Science and Industry
    dHorticulture, Forestry, and Recreation Resources
    dPlant Pathology
    Architecture, Planning, and Design
    Arts and Sciences
    Business Administration
    Education
    Engineering
    Human Ecology
    Technology and Aviation
    Veterinary Medicine
    Graduate School
    Intercollegiate Athletics
    K-State Research and Extension
    Outreach
    University Faculty
     

    Agricultural Economics

    Daniel Bernardo, Head
    Barry L. Flinchbaugh, Extension State Leader
    Arlo Biere, Undergraduate Program Coordinator
    Ted Schroeder, Director of Graduate Programs
    Allen Featherstone, Director of MAB Program

    Professors Barkley, Barnaby, Barton, Bernardo, Biere, Burton, Darling, Dhuyvetter, Featherstone, Flinchbaugh, Fox, Grunewald, Johnson, M. Langemeier, Mintert, Norman, Schroeder, Schurle, Tierney, and Williams; Associate Professors Boland, Jones, Kastens, Leatherman, McEowen, and O'Brien; Assistant Professors Arata, Crespi, Marsh, H. Peterson, and J. Peterson; Senior Agricultural Economists Kiser; Assistant Agricultural Economist Neils; Administrator of Kansas Farm Management Program Albright; Emeriti Professors Buller. Dunbar, Erickson, Figurski, Hess, Kelley, Knight, Koudele, L. Langemeier, Manuel, Maxon, McCoy, Orazem, Parker, Phillips, Schlender, Sjo, Sobering, Sorenson, Thomas, and Walker.

    E-mail: undergrad@agecon.ksu.edu
    www.agecon.ksu.edu

    Our curricula offers students the skills needed in business, while balancing them with their own interests and career goals. The agribusiness degree has two options: agribusiness and international. The agricultural economics major has three options: specialty, farm management, and quantitative.

    Agribusiness
    Bachelor of science in agribusiness
    127 semester hours

    Students will complete course work in science, math, and communication, plus courses in agribusiness and agricultural economics. To give a better understanding of agribusiness and the broad range the field covers, students will choose from two degree options: agribusiness and international agribusiness.

    Students must complete the university general education requirements specified by the College of Agriculture. See the College of Agriculture General Requirements section.

    Suggested schedule for first two years

    First semester
    ENGL 100Expository Writing I3
    MATH 100College Algebra3
    AGEC 105Agricultural Economics and
    Agribusiness Orientation1
    (open and required for incoming freshmen only)
    Agricultural or food science technology*3-4
    SOCIO 211Introduction to Sociology3
    13-14
     
    Second semester
    AGEC 120Agricultural Economics and
    Agribusiness3
    MATH 205Calculus and Linear Algebra3
    SPCH 105Public Speaking IA2
    PYSCH 110General Psychology3
    Natural science elective***4
    15
     
    Third semester
    University General Education courseECON 110Principles of Macroeconomics3
    ENGL200Expository Writing II3
    Humanities elective**3
    Natural science elective***4
    Social science (select from: psychology, sociology, political science, anthropology, history, geography, women's studies, or American ethnic studies3
    16
     
    Fourth semester
    AGEC 318Food and Agribusiness Management3
    University General Education courseACCTG 231Accounting for Business Operations3
    Ag or food science technology*3-4
    AGCOM 400Ag Business Communications
    or
    ENGL 516Written Communication for the Sciences3
    Communication3
    Three hours in English (above 200), Speech (above 200) or a modern language.
    15-16
     
    *Select 6 credits from AGRON 220, HORT 201, AGRON 305, 330, ATM 160, ASI 102, 105, 318, 320, 302, 305, GRSC 100.

    **Select from history, music, art, English (above 210), philosophy, theatre, dance, or modern language.

    ***Select from either General Chemistry and Lab or Chemistry I, Principles of Biology, or General Physics I.

    Agribusiness option
    This program of study provides fundamental agribusiness content with course work in agricultural economics, agribusiness, and business courses that will prepare grads for the industry and its related issues.

    Additional requirements for agribusiness option

    University General Education courseACCTG 241Accounting for Investing and
    Financing3
    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    AGEC 515Food and Agribusiness Marketing3
    AGEC 599Food and Agribusiness Management Strategies3
     
    Agricultural economics electives
    Select 15 credits from AGEC 410, 415, 416, 420, 513, 520, 525, 590, 598, 605, 610, 623, 632, 680, 712 and ECON 631.
     
    Business (9 credits required)
    MANGT 420Management Concepts3
    MANGT, MKTG, FINAN, or ACCTG3
    500 level or above from MANGT, MKTG, FINAN, or ACCTG3
     
    Business elective3
    ECON 510Intermediate Macroeconomics3
    Agricultural and food science electives6
    Statistics3-6
    Free electives12-15
    Total including first two years127
     
    Either AGEC 513 or FINAN 450 must be included in the program of study.
     
    University General Education courseDenotes university general education courses.
     
    International agribusiness option
    This program focuses on global issues facing agribusinesses today. Students complete basic agribusiness course work, study anther language, and participate in an overseas experience. This is crucial to grasp the wide range of issues facing international agribusinesses and their place in the global economy.

    Additional requirements for international option

    University General Education courseACCTG 241Accounting for Investing and
    Financing3
    AGEC 415The Global Agricultural Economy, Hunger, and Poverty3
    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    AGEC 513Ag Finance3
    AGEC 515Food and Agribusiness Marketing3
    AGEC 599Food and Agribusiness Management Strategies3
    AGEC 623International Ag Trade3
    GEOG 100World Regional Geography (for social science elective3
     
    Agricultural economics electives
    Select 6 credits from AGEC 410, 416, 420, 520, 525, 590, 598, 605, 610, 631, 632, 680, and 712.
     
    Business (9 credits required)
    MANGT 420Management Concepts3
    MANGT, MKTIB, FINAN, or ACCTG3
    MANGT 690, MKTG 544, or FINAN 6433
    ECON 510Intermediate Macroeconomics3
     
    International experience3
     
    Language requirements Must complete Spanish III, French III, or third course for any other modern language
    Statistics3-6
    Free electives14-17
    Total including first two years127
     
    Agricultural economics
    Bachelor of science in agriculture 127 semester hours

    The agricultural economics program balances the theoretical and practical applications of agricultural economics to give students the best grasp on emerging issues facing professionals in food and agriculture today. Students earn a B.S. in agriculture with a major in agricultural economics.

    The requirements for the first two years are virtually the same as those for the agribusiness degree. Exceptions to those requirements are noted in the discussion of the farm management, speciality pre-vet, and quantitative option.

    Students must complete university general education requirements as specified by the College of Agriculture. See College of Agriculture General Requirements section.

    Farm management option
    Teaching how to apply agricultural economics to the management of the farm, ranch, or commercial feedlot, this program includes course work in livestock and crop production, agricultural technology, and agricultural economics.

    The suggested schedule for the first two years is the same as that for the agribusiness degree except that ASI 102 and a laboratory and AGRON 220 are the required agricultural science courses, and AGEC 308 Farm and Ranch Management replaces AGEC 318 Food and Agribusiness Management. The additional requirements are below.

    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    AGEC 513Agricultural Finance3
    AGEC 598Farm Management Strategies3
     
    Agricultural economics electives
    Select 15 credits with at least one credit above 600 from AGEC 410, 415, 416, 420, 515, 520, 525, 590, 599, 605, 610, 623, 632, 680, 712, and ECON 631.
     
    University General Education courseACCTG 241Accounting for Investing and Finance3
    AGRON 305Soils4
    ECON 510Intermediate Macroeconomics3
    Statistics3-6
    Advanced agricultural science electives (approved list available from department)9
    Free electives9-12
    Total including first two years127
     
    Specialty option
    By combining agricultural economics with another degree, minor, or pre-professional program, students can develop a program that fits their interests and career goals. Students have combined agricultural economics with political science, computer science, nutrition, journalism, grain science, accounting, and business.

    Requirements for the first two years are the same as for the agribusiness degree. Additional requirements are below.

    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    University General Education courseACCTG 241Accounting for Investing and Finance3
    ECON 510Intermediate Macroeconomics3
    Statistics3-6
    Agricultural economics electives
    Select 21 credits with at least two credits above 598 from AGEC 308, 318, 410, 415, 416, 420, 513, 515, 520, 525, 590, 598, 599, 605, 610, 623, 632, 680, 712 and ECON 631.
     
    Specialization in a second department or field,
    at least 6 credit hours at 500 level or higher15
    Free electives14-17
    Total including first two years127
     
    Two of the possibilities requiring very careful coordination are:

    Specialty in pre-veterinary medicine
    Designed to give an understanding of the roles a veterinarian plays—such as doctor, manager, and consultant—this specialty also prepares students with all the biological science requirements needed to be admitted to veterinary school.

    Requirements for the first two years are much the same as for the agribusiness degree. Students take Chemistry I in place of general chemistry and genetics as one of the technology courses. Additional requirements are below.

    University General Education courseACCTG 241Accounting for Investing and Finance3
    AGEC 416Agricultural Law and Economics3
    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    ECON 510Intermediate Macroeconomics3
    AGEC 513Ag Finance3
    AGEC 515Food and Agribusiness Marketing3
    AGEC 599Food and Agribusiness Management Strategies3
    BIOCH 521General Biochemistry3
    BIOCH 522General Biochemistry Laboratory2
    BIOL 455Microbiology (with lab)4
    BIOL 510Embryology3
    BIOL 511Embryology Laboratory1
    CHM 230Chemistry II4
    CHM 350General Organic Chemistry3
    CHM 351General Organic Chemistry
    Laboratory2
    PHYS 113General Physics I4
    PHYS 114General Physics II4
    Statistics3
    Agricultural economics electives6
    Free electives2
    Total including first two years127
     
    Specialty in natural resources
    This secondary major focuses on environmental issues and agricultural economics. Courses in this 15-hour option include resource management and conservation. Refer to the Secondary Majors section of this catalog.

    Refer to the Secondary Majors section of this catalog.

    Quantitative option
    This program allows students to pursue mathematics and statistics along with the agricultural economics curriculum. With these advanced quantitative skills students will be well prepared for M.S. and Ph.D. studies in agricultural economics and will have excellent opportunities in future employment, especially as an economic analyst or consultant.

    Requirements for the first two years are the same as for the agribusiness degree except MATH 220, 221, and 222 are required instead of MATH 205. Additional requirements are below.

    AGEC 490Computer Applications2
    AGEC 500Production Economics3
    AGEC 505Agricultural Market Structures3
    University General Education courseACCTG 241Accounting for Investing and Finance3
    CIS 200Fundamentals of Computer
    Programming3
    CIS 203Fundamentals of Computer Programming Laboratory1
    University General Education courseSTAT 350Business and Economic Statistics I
    or
    STAT 510Introductory Probability and Statistics I3
    STAT 351Business and Economic Statistics II3
    or
    STAT 511Introductory Probability and Statistics II3
    MATH 551Applied Matrix Theory3
    ECON 510Intermediate Macroeconomics3
     
    Agricultural economics electives
    Select 15 credits with at least one credit above 598 from AGEC 308, 318, 410, 415, 416, 420, 513, 515, 520, 525, 590, 598, 599, 605, 610, 623, 632, 680, 712 and ECON 631.
     
    Quantitative electives (see department list)9
    Electives13
    Total including first two years127
     
    University General Education courseDenotes university general education courses.
     
    Agribusiness minor
    Prerequisites (in addition to any prerequisites required for specific AGEC courses taken):
    MATH 205Calculus and Linear Algebra
    ECON 110Principles of Macroeconomics
    AGEC 120Agricultural Economics and Agribusiness
    or
    ECON 120Principles of Microeconomics
    ACCTG 231Accounting for Business Operations
     
    Required:
    AGEC 500Production Economics
    AGEC 505Agricultural Market Structures
    AGEC 318Food and Agribusiness Management
    AGEC 513Agricultural Finance
     
    At least 3 credit hours below:
    AGEC 420Commodity Futures Markets
    AGEC 515Food and Agribusiness Marketing
     
    Agricultural economics minor
    Prerequisites (in addition to any prerequisites required for specific AGEC courses taken):
    MATH 205Calculus and Linear Algebra
    ECON 110Principles of Macroeconomics
    AGEC 120Agricultural Economics and Agribusiness
    or
    ECON 120Principles of Microeconomics
     
    Required
    AGEC 500Production Economics
    AGEC 505Agricultural Market Structures
     
    Select 9 credits with at least 3 credits above 510
    AGEC 308 or 318, 410, 415, 416, 420, 513, 515, 520, 598, 599, 605, 610, 623, 632, 680, 712, ECON 510 and 631.
     
    Agricultural economics courses
    AGEC 105. Agricultural Economics and Agribusiness Orientation. (1) I. Introduction to agricultural economics and agribusiness programs, activities, resources, and careers. Required of all freshmen in agricultural economics or agribusiness at K-State.

    University General Education courseAGEC 120. Agricultural Economics and Agribusiness. (3) I, II. A course suggested for all students interested in the agricultural economy. A study of economic principles, with emphasis on their application to the solution of farm, agribusiness, and agricultural industry problems in relationship to other sectors of the United States economy and foreign countries. No prerequisite. Three hours lec. a week.

    AGEC 202. Small Business Operations. (3) I. Opportunities in business ownership, principles governing the starting of a small enterprise; importance, status, problems, and management of a small business. Pr.: ECON 110.

    AGEC 220. Grain and Livestock Marketing Systems. (3) II. Survey of the institutions and mechanisms that facilitate and regulate the sale and marketing of grain and livestock commodities. Topics include the physical and informational flows in the commodity supply chains, cash pricing, commodity grades to improve market efficiency and the governmental regulations and agencies influencing commodity trading. Pr.: AGEC 120. Not available for agricultural economics elective.

    AGEC 308. Farm and Ranch Management. (3) I. Decision-making process, cost concepts, farm records and financial management, budgeting, time value of money, and introduction to whole farm/ranch planning. Two hours rec. and two hours lab. a week. Pr.: AGEC 120 or ECON 120.

    University General Education courseAGEC 318. Food and Agribusiness Management. (3) I, II. A study of marketing, production, risk, human resource management, and financial management in agribusiness firms. Particular attention is given to the application of economic principles to the management of marketing and farm supply firms. Pr.: AGEC 120 or ECON 120.

    AGEC 410. Agricultural Policy. (3). I. Institutional and analytical treatment of historical and current economic problems, public policies and government programs affecting agriculture and rural America. Pr.: AGEC 120 or ECON 120 or ECON 110 and Junior Standing.

    AGEC 415. The Global Agricultural Economy, Hunger, and Poverty. (3). II. Describe and analyze the interdependencies between the world's food, populations, and equitability/poverty problems and then assess alternative solutions to these problems, in particular the role of technological and policy/institutional changes, in fostering sustainable development. Specific emphasis will be placed on relationships between wealthy and poor countries, particularly in terms of policies, trade, and aid. Examination of these problems and issues involves the use of basic economic principles. Pr.: ECON 110 and AGEC 120 or ECON 120.

    AGEC 416. Agricultural Law and Economics. (3) I, II. The legal framework for decision making by farm firms, families, and individuals; liabilities, real and personal property, contracts, uniform commercial code, organization of farm firms, intergeneration property transfers, water law, fence law, federal and state regulatory power, insurance, income tax, and social security. Three hours rec. a week. Pr.: ECON 110 and junior standing.

    University General Education courseAGEC 420. Commodity Futures. (3) I, II. This course is designed to introduce students to the purpose, operation, and use of commodity futures and options markets. The objectives are to: (1) understand why futures exchanges and commodity futures contracts exist; (2) understand and be able to forecast basis; (3) understand hedging and be able to design hedging strategies for various commodity producers and users; (4) understand both put and call options and their potential use in a commodity risk management program; and (5) understand the usefulness and shortcomings of fundamental and technical analysis. Pr.: AGEC 120.

    AGEC 441. Agricultural Economics and Agribusiness Seminar. (Var.) Seminars of special interest will be offered upon sufficient demand in selected areas relating to agricultural economics and agribusiness or competitive teams qualifying for academic credit.

    AGEC 445. Agribusiness Internship. (1-3) I, II, S. Approved and supervised work-study programs in various areas of agribusiness. Project reports required. Pr.: Junior standing and prior departmental approval.

    AGEC 450. Agricultural Economics and Agribusiness Problems. (Var) I, II, S. Pr.: Consent of the instructor.

    AGEC 490. Computer Applications in Agricultural Economics and Agribusiness. (2) I, II. Applications of microcomputers to problems in agricultural economics and agribusiness. Emphasis on budgeting, cash flow, record keeping, financial analysis, statistical analysis, linear programming, and data analysis. Two hours rec. a week. Pr.: AGEC 105, AGEC 120 or ECON 120, and MATH 100.

    AGEC 500. Production Economics. (3) I, II. Application of economic principles to problems of agricultural production. Analysis of consumer demand for agricultural products, and input and output decisions of the agricultural firm. AGEC 505 is a continuation of this course and they are intended to be taken in consecutive semesters. Pr.: AGEC 120 or ECON 120; and MATH 205.

    AGEC 505. Agricultural Market Structures. (3) I, II. Theory and application of economic principles to marketing problems in agriculture. Pricing of agricultural output and productive services under various forms of economic organization and competition; regional specialization, location, and trade; determinants of economic change; evaluation of economic and consumer welfare. Three hours rec. a week. Pr.: ECON 110 and AGEC 500.

    AGEC 513. Agricultural Finance. (3) I, II. Analysis of capital investments, interpretation of financial statements, capital structure considerations for agricultural firms, and farm real estate pricing. Three hours rec. a week. Pr.: AGEC 308 or AGEC 318 and ACCTG 231.

    AGEC 515. Food and Agribusiness Marketing. (3) I, II. A broad view of marketing; food markets and consumption; marketing functions and institutions; prices, competition, and marketing costs; functional and organizational issues; food marketing regulations; commodity marketing. Three hours rec. a week. Pr.: AGEC 120 or ECON 120.

    AGEC 520. Market Fundamentals and Futures/Options Trading. (3) I. This is an experiential course in the trading commodity futures and options. Attention is focused on the study of market price determination, the implications of market efficiency notions, and on actual trading of futures and options. Students invest in a commodity educational trading fund. Class approves recommendations by vote, orders are placed with a broker, and the class monitors open trades. The pool balance at the end of the semester is redistributed to the students. Three hours rec. a week. Pr.: AGEC 420.

    University General Education courseAGEC 525. Natural Resource and Environmental Economics. (3) I. Emphasis on the application of demand, supply, and price concepts in the study of natural resource use, policies, and management. Interdependence between environmental quality and economic actions are examined through discussion of property rights, economic incentives, externalities and economic components of environmental policies. Pr.: ECON 120 or AGEC 120 and junior standing.

    AGEC 541. Agricultural Economics and Agribusiness Seminar. (Var). Seminars of special interest will be offered upon sufficient demand in selected areas relating to agricultural economics and agribusiness.

    AGEC 590. Agricultural Economics and Agribusiness Honors Problems. (2) I, II, S. Problems course for College of Agriculture honors projects. Pr.: College of Agriculture honors program participant and consent of honors project advisor.

    AGEC 598. Farm Management Strategies. (3) I. A study of management concepts, tools, and decision strategies applied to farm firms. Alternative measures of farm business performance, as well as planning and evaluation techniques for an uncertain environment, are examined. Pr.: AGEC 120, AGEC 308, AGEC 500 and AGEC 513.

    AGEC 599. Food and Agribusiness Management Strategies. (3) II. This course integrates the risk, production, marketing, and financial management strategies of agribusiness firms. Special attention is given to the application of economic theory and quantitative analysis to business decision-making processes. In addition to case studies, a variety of analytical techniques will focus on both markets and firms involved in the production and marketing of food commodities. Three hours lec. a week. Pr.: AGEC 318, AGEC 500, AGEC 513 or FINAN 450, AGEC 515.

    AGEC 605. Price Analysis and Forecasting. (3) II. The analysis of selected agricultural prices; application of regression analysis to price analysis, the role of futures markets and market efficiency, optimal hedging strategies, commodity option pricing, and price forecasting. Three hours rec. a week. Pr.: STAT 330 or 351; AGEC 490, AGEC 505 or ECON 520.

    University General Education courseAGEC 610. Current Agricultural and Natural Resource Policy Issues. (3) II. Current issues in agricultural and natural resource policy from divergent perspectives. Classroom discussion, debate, writing assignments, and student presentations. Current events are analyzed and synthesized from both economic and noneconomic perspectives. Topics may include environmental issues, international agricultural development, the politics of farm programs, and the relationship between technology, agriculture, and society. Pr.: AGEC 505 and either AGEC 525 or AGEC 410.

    AGEC 623. International Agricultural Trade. (3) II. Applied economics of agricultural trade. Emphasis on why trade occurs, current agricultural trade patterns, the effects of agricultural policy on trade and the institutions of trade. Pr.: AGEC 505.

    AGEC 632. Agribusiness Logistics. (3) I. Planning for efficient use of transportation, storage and processing facilities in the handling of raw materials and products for agribusiness firms, controlling shipments and inventory in coordination with warehouse and handling operations, and scientific selection of routes, schedules, and equipment. Pr.: ECON 110 and junior standing.

    AGEC 641. Agricultural Economics and Agribusiness Seminar. (Var.) Seminars of special interest will be offered upon sufficient demand in selected areas relating to agricultural economics and agribusiness. Pr.: Junior standing and consent of the instructor.

    AGEC 680. Risk Management. (3) II. Analytical concepts and quantitative tools to make better decisions in risky situations. Identifying various types of risk an operation faces, measuring the degree of risk, and exploring ways to manage risk. Includes portfolio analysis, futures and options, contracting, and insurance. Emphasis on computer applications. Topics are focused on agriculture but are applicable to other industries and houshold decisions. Pr.: AGEC 420, 513, and a course in statistics.

    AGEC 712. Optiminzation Techniques for Agricultrual Economics. (3) II. Application of optimization techniques including linear programming and nonlinear programming for research and decision analysis in agricultural economics. Pr.: AGEC 500.

    AGEC 740. Seminar in Agricultural Economics Analysis. (Var.) Seminar on methods of economic analysis will be offered upon sufficient demand. Pr.: Consent of instructor.

    AGEC 750. Agricultural Economics and Agribusiness Problems. (Var.) I, II, S. Pr.: Junior standing and consent of the instructor.

    Topics within Agriculture:
    dGeneral Requirements dAgricultural Education dEntomology
    dUniversity General Education dAgricultural Technology Management dFood Science and Industry
    dProgram Choices dAgronomy dGrain Science and Industry
    dGeneral Agriculture dAnimal Sciences and Industry dHorticulture, Forestry, and Recreation Resources
    dAgricultural Economics dCommunications dPlant Pathology
    start of standard bottom bar

    Kansas State University
    June 5, 2003