Agricultural Economics
Sean Fox, Interim Head
James R. Mintert, Extension State Leader
Arlo Biere, Director of Undergraduate Programs
Ted Schroeder, Director of Graduate Programs
Allen Featherstone, Director of MAB Program
Professors Barkley, Barnaby, Barton, Biere, Boland, Burton, Dhuyvetter, Featherstone, Flinchbaugh, Fox, Grunewald, Kastens, M. Langemeier, Leatherman, Mintert, Norman, Schroeder, Schurle, and Williams; Associate Professors Crespi, Jones, H. Peterson, and J. Peterson; Assistant Professors Amanor-Boadu, Arata, Saak, Woolverton, and Xia; Senior Agricultural Economist Kiser; Assistant Agricultural Economist Li; Administrator of Kansas Farm Management Program Funk; Emeriti Professors Buller, Darling, 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.ageconomics.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 three options: agribusiness, food industry economics, and international. The agricultural economics major has three options: specialty, farm management, and quantitative. Two pre-professional programs—pre-law and pre-vet—are available under the specialty option.
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 three degree options: agribusiness, food industry economics, 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 100 | Expository Writing I | 3 |
| MATH 100 | College Algebra | 3 |
| AGEC 105 | Agricultural Economics and | |
| Agribusiness Orientation | 1 | |
| (open and required for incoming freshmen only) | ||
| Agricultural or food science technology* | 3-4 | |
| SOCIO 211 | Introduction to Sociology | 3 |
| 13-14 | ||
| Second semester | ||
| AGEC 120 | Agricultural Economics and | |
| Agribusiness | 3 | |
| MATH 205 | Calculus and Linear Algebra | 3 |
| SPCH 105 | Public Speaking IA | 2 |
| PYSCH110 | General Psychology | 3 |
| Natural science elective*** | 4 | |
| 15 | ||
| Third semester | ||
 ECON 110 | Principles of Macroeconomics | 3 |
| ENGL200 | Expository Writing II | 3 |
| Humanities elective** | 3 | |
| Natural science elective*** | 4 | |
| Social science (select from: psychology, sociology, political science, anthropology, history, geography, women's studies, or American ethnic studies | 3 | |
| 16 | ||
| Fourth semester | ||
| AGEC 318 | Food and Agribusiness Management | 3 |
| ACCTG 231 | Accounting for Business Operations | 3 |
| Ag or food science technology* | 2-3 | |
| AGCOM 400 | Ag Business Communications | |
| or | ||
| ENGL 516 | Written Communication for the Sciences | 3 |
| Communication | 3 | |
| Three hours in English (above 200), Speech (above 300) or a modern language. | ||
| 14-15 | ||
*Select 6 credits from AGRON 220, HORT 201, AGRON 305, 330, ATM 160, ASI 102, 105, 106, 318, 320, FDSCI 302, 305, GRSC 101.
**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
| ACCTG 241 | Accounting for Investing and | |
| Financing | 3 | |
| AGEC 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| AGEC 515 | Food and Agribusiness Marketing | 3 |
| AGEC 599 | Food and Agribusiness Management Strategies | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| Agricultural economics electives | ||
| Select 15 credits from AGEC 410, 415, 420, 513, 516, 520, 525, 590, 598, 605, 610, 623, 632, 680, 712, and ECON 631. | ||
| Business (9 credits above 300 level required) | ||
| MANGT 420 | Management Concepts | 3 |
| 500 level or above from MANGT, MKTG, FINAN, or ACCTG | 3 | |
| Business elective | 3 | |
| Agricultural and food science and business electives | 6 | |
| Statistics | 3-6 | |
| Free electives | 12-15 | |
| Total including first two years | 127 | |
| Either AGEC 513 or FINAN 450 must be included in the program of study. | ||
| Denotes university general education courses. | ||
Food industry economics option
This option focuses on business and economics of food manufacturing and distribution. Students complete basic agribusiness courses including courses focused on the business aspects of the food industry.
Additional requirements for food industry economics option
| ACCTG 241 | Accounting for Investing and | |
| Financing | 3 | |
| AGEC 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| AGEC 513 | Ag Finance | 3 |
| AGEC 515 | Food and Agribusiness Marketing | 3 |
| AGEC 570 | Food Distribution and Retailing | 3 |
| AGEC 599 | Food and Agribusiness Management Strategies | 3 |
| AGEC 632 | Agribusiness Logistics | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| Agricultural economics electives | ||
| Select 6 credits from AGEC 410, 415, 420, 516, 520, 525, 590, 598, 605, 610, 623, 680, 712, and ECON 631. | ||
| Business (15 credits) | ||
| MANGT 420 | Management Concepts | 3 |
| MKTG 400 | Marketing | 3 |
| MKTG 450 | Consumer Behavior | 3 |
| MKTG 541 | Retailing | 3 |
| 500 level or above MANGT, MKTB, FINAN, or ACCTG | 3 | |
| Statistics | 3-6 | |
| Free electives | 12-15 | |
| Total including first two years | 127 | |
International agribusiness option
This program focuses on global issues facing agribusinesses today. Students complete basic agribusiness course work, study another language, and participate in an international 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
| ACCTG 241 | Accounting for Investing and | |
| Financing | 3 | |
| AGEC 415 | The Global Agricultural Economy, Hunger, and Poverty | 3 |
| AGEC 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| AGEC 513 | Ag Finance | 3 |
| AGEC 515 | Food and Agribusiness Marketing | 3 |
| AGEC 599 | Food and Agribusiness Management Strategies | 3 |
| AGEC 623 | International Ag Trade | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| GEOG 100 | World Regional Geography (for social science elective | 3 |
| Agricultural economics electives | ||
| Select 6 credits from AGEC 410, 420, 516, 520, 525, 590, 598, 605, 610, AGEC631, 632, 680, 712, and ECON 631. | ||
| Business (9 credits above 300 level required) | ||
| MANGT 420 | Management Concepts | 3 |
| Business elective | 3 | |
| MANGT 690, MKTG 544, or FINAN 643 | 3 | |
| International experience | 3 | |
| Language requirements Must complete Spanish III, French III, or third course for any other modern language | ||
| Statistics | 3-6 | |
| Free electives | 14-17 | |
| Total including first two years | 127 | |
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 BS 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, specialty pre-law, specialty 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 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| AGEC 513 | Agricultural Finance | 3 |
| AGEC 598 | Farm Management Strategies | 3 |
| Agricultural economics electives | ||
| Select 15 credits with at least three credit above 598 from AGEC 410, 415, 420, 515, 516, 520, 525, 590, 599, 605, 610, 623, 632, 680, 712, and ECON 631. | ||
| ACCTG 241 | Accounting for Investing and Finance | 3 |
| AGRON 305 | Soils | 4 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| Statistics | 3-6 | |
| Advanced agricultural and food science technology electives (approved list available from department) | 9 | |
| Free electives | 9-12 | |
| Total including first two years | 127 | |
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 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| ACCTG 241 | Accounting for Investing and Finance | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| Statistics | 3-6 | |
| Agricultural economics electives | ||
| Select 21 credits with at least two credits above 590 from AGEC 308, 318, 410, 415, 420, 513, 515, 516, 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 higher | 15 | |
| Free electives | 14-17 | |
| Total including first two years | 127 | |
Three 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 apply 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.
| ACCTG 241 | Accounting for Investing and Finance | 3 |
| AGEC 516 | Agricultural Law and Economics | 3 |
| AGEC 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| AGEC 513 | Ag Finance | 3 |
| AGEC 515 | Food and Agribusiness Marketing | 3 |
| AGEC 599 | Food and Agribusiness Management Strategies | 3 |
| BIOCH 521 | General Biochemistry | 3 |
| BIOCH 522 | General Biochemistry Laboratory | 2 |
| BIOL 455 | Microbiology (with lab) | 4 |
| CHM 230 | Chemistry II | 4 |
| CHM 350 | General Organic Chemistry | 3 |
| CHM 351 | General Organic Chemistry | |
| Laboratory | 2 | |
| PHYS 113 | General Physics I | 4 |
| PHYS 114 | General Physics II | 4 |
| Statistics | 3 | |
| Agricultural economics electives | 6 | |
| Free electives | 6 | |
| Total including first two years | 127 | |
Specialty in pre-law
While law school admission committees have no preference for undergraduate major, law schools look for breadth and depth in the curriculum and value diversity such as found in the agricultural economics major. The Association of American Law Schools emphasizes the selection of rigorous course work to develop analytical and critical thinking skills, oral and written communications skills, and an understanding of our society's institutions and values.
The pre-law specialty in agricultural economics, with coverage from the natural sciences to applied technology (in food and agriculture) to social sciences to the humanities, provides a wide breadth of educational exposure. It also provides a strong foundation for problem solving with good analytical skills. For example, the agricultural economics curriculum with its courses in mathematics, statistics, and economics is known for providing the opportunity to develop analytical skills.
The study of economics when combined with political science and philosophy gives students excellent exposure to understanding government and private institutions and to comprehending the value systems that guide the functioning of our society.
Students in the pre-law specialty are encouraged to select communication electives that will enhance their creative writing and speaking skills.
As an agricultural economics student in the pre-law specialty, you will be encouraged and expected to work closely with both your agricultural economics advisor and the university pre-law advisor. Our goal is to help you design your educational program to maximize your opportunities.
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.
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 MS and PhD 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 490 | Computer Applications | 2 |
| AGEC 500 | Production Economics | 3 |
| AGEC 505 | Agricultural Market Structures | 3 |
| ACCTG 241 | Accounting for Investing and Finance | 3 |
| CIS 200 | Fundamentals of Software Design and Implementation | 4 |
| CIS208 | C Language Laboratory | 1 |
| STAT 350 | Business and Economic Statistics I | |
| or | ||
| STAT 510 | Introductory Probability and Statistics I | 3 |
| STAT 351 | Business and Economic Statistics II | 3 |
| or | ||
| STAT 511 | Introductory Probability and Statistics II | 3 |
| MATH 551 | Applied Matrix Theory | 3 |
| ECON 510 | Intermediate Macroeconomics | 3 |
| Agricultural economics electives | ||
| Select 15 credits with at least three credits above 590 from AGEC 308, 318, 410, 415, 420, 513, 515, 516, 520, 525, 590, 598, 599, 605, 610, 623, 632, 680, 712 and ECON 631. | ||
| Quantitative electives (see department list) | 9 | |
| Electives | 13 | |
| Total including first two years | 127 | |
| Denotes university general education courses. | ||
Agribusiness minor
| Prerequisites (in addition to any prerequisites required for specific AGEC courses taken) | ||
| MATH 205 | Calculus and Linear Algebra | |
| ECON 110 | Principles of Macroeconomics | |
| AGEC 120 | Agricultural Economics and Agribusiness | |
| or | ||
| ECON 120 | Principles of Microeconomics | |
| ACCTG 231 | Accounting for Business Operations | |
| Required | ||
| AGEC 500 | Production Economics | |
| AGEC 505 | Agricultural Market Structures | |
| AGEC 318 | Food and Agribusiness Management | |
| AGEC 513 | Agricultural Finance | |
| At least 3 credit hours below | ||
| AGEC 420 | Commodity Futures Markets | |
| AGEC 515 | Food and Agribusiness Marketing | |
Agricultural economics minor
| Prerequisites (in addition to any prerequisites required for specific AGEC courses taken) | ||
| MATH 205 | Calculus and Linear Algebra | |
| ECON 110 | Principles of Macroeconomics | |
| AGEC 120 | Agricultural Economics and Agribusiness | |
| or | ||
| ECON 120 | Principles of Microeconomics | |
| Required | ||
| AGEC 500 | Production Economics | |
| AGEC 505 | Agricultural Market Structures | |
| Select 9 credits with at least 3 credits above 510 | ||
| AGEC 308 or 318, 410, 415, 420, 513, 515, 516, 520, 525, 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.
AGEC 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. For non-majors. Pr.: ECON 110 or AGEC 120 or ECON 120.
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. For non-majors. Pr.: AGEC 120 or ECON 120.
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.
AGEC 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; and MATH 100.
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.: AGEC 120 or ECON 120. Recommended pr.: ECON 110 .
AGEC 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 or ECON 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.: Consent of instructor.
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 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.: 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 516. 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 or AGEC 120 or ECON 120, and junior standing.
AGEC 520. Market Fundamentals and Futures/Options Trading. (3) I, II. 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.
AGEC 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 or ECON 110, and junior standing. Recommended pr.: AGEC 120 or ECON 120
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 570. Food Manufacturing, Distribution, and Retailing. (3) II. Advanced study of the economic and business aspects of the food industry from processing to distribution to retailing. Emerging trends in nutrition, food consumption, food safety, and supply chain arrangements along with management and marketing issues in the food industry will be studied. Three hours rec. a week. Pr.: AGEC 318 or MANGT 420 and AGEC 515 or MKTG 400.
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.
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 308 or 318; AGEC 500; and AGEC 513 or FINAN 450.
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, and AGEC 513 or FINAN 450. Recommended pr.: 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.
AGEC 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 410.
AGEC 623. International Agricultural Trade. (3) I. 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.: AGEC 120 or ECON 120, 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 or graduate standing.
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.