(AGEC)
Professors D.
A. Bessler, O. Capps, J. R. Conner, S. W.Fuller, R.C.Griffin,
W.L.Griffin, L.L.Jones, D. A. Klinefelter, R.D.Lacewell, C. F.
Lard, D.J.Leatham, K.K.Litzenberg, H. A. Love, B. A. McCarl,
J. M. McGrann, J. W. Mjelde, R. M. Nayga, A. G. Nelson (Head),
J. P. Nichols, J. B. Penson, Jr., J. W. Richardson, M. E. Rister,
C. P. Rosson, J. W. Siebert, G. W. Williams, A. M. Womack, M.
Zey; Associate Professors D. P.
Anderson, F. O. Boadu, D. M. Burton, G. C. Davis, E. Jones, J.
L. Park, V. Salin, R. Woodward; Assistant
Professors R. L. Gallagher, P. D. Mitchell
105. Introduction to Agricultural Economics.
(3-0). Credit 3. I, II, S
Characteristics of our economic system and basic
economic concepts; survey of the farm and ranch firm and its
organization and management; structure and operation of the
marketing system; functional and institutional aspects of agricultural
finance; government farm programs.
221. Computer Applications in Agriculture.
(2-3). Credit 3. I, II, S
Computer technology applied to management, record
keeping, resource allocation, inventory control, financial
and marketing decisions on farms, ranches and agribusinesses;
computer applications of agricultural economic theories. Prerequisites:
AGEC 105. For agricultural economics and agribusiness majors
only.
285. Directed Studies. Credit 1 to 4. I,
II, S
Directed study of selected problems in agricultural
economics. Prerequisites: AGEC 105; freshman or sophomore classification
in agricultural economics or approval of instructor; 2.25 GPR
in major, overall and CBK courses, if applicable.
289. Special Topics in... Credit 1 to 4.
I, II, S
Selected topics in an identified area of agricultural
economics. May be repeated for credit. Prerequisite: Approval
of instructor.
314. Marketing Agricultural Products. (3-0).
Credit 3. I, II
General introductory course covering operations
involved in movement of agricultural commodities from farmer
to consumer; essential marketing functions of buying, selling,
transportation, storage, financing, standardization, pricing
and risk bearing. Prerequisite: AGEC 105 or 3 hours of economics.
315. Food and Agricultural Sales. (3-0).
Credit 3. I, II
Principles of professional sales techniques
used in food and agricultural firms; develop a professional
sales presentation; study current agribusiness industry professional
salespersons. Prerequisites: Junior classification or approval
of instructor.
317. Quantitative Analysis in Agricultural
Economics. (3-0). Credit 3. I, II, S
Econometric methods used to solve problems in
agricultural economics relating to marginal analysis; production
and consumption functions; maximization and minimization principles;
elasticity; agricultural firm and market equilibrium; the cobweb
model; uncertainty; and static and dynamic models. Prerequisites:
ECON 323; MATH 142; STAT 303; or equivalents.
325. Principles of Farm and Ranch Management.
(2-2). Credit 3. I, II
Economic and business principles applied to
the organization of farms and ranches for more profitable operation;
laboratory work uses data from actual farms and ranches. Prerequisites:
AGEC 105 or 3 hours of economics; for non-majors only.
330. Financial Management in Agriculture.
(3-0). Credit 3. I, II
Principles of financial management of farms,
ranches, livestock operations and other agribusiness firms;
financial statement analysis, investment analysis, firm growth,
risk management, cost of capital, income taxes, business organization,
estate planning, legal aspects of borrowing and sources and
terms of agricultural loans. Prerequisites: AGEC 105 or 3 hours
of economics; ACCT 209 or 229.
340. Environment of Agribusiness. (3-0).
Credit 3. I, II, S
Systematic analysis of agribusiness firm-level
decision-making using a broad array of management concepts,
managing agribusiness firms and their unique problems and opportunities,
exposure to decision-making in agribusiness environment. Prerequisite:
AGEC 105 or 3 hours of economics.
344. Agricultural Law. (3-0). Credit 3.
I, II
Legal problems relevant to agribusiness; torts,
fencing laws, liability for agricultural pollution, irrigation
water rights, corporations and partnerships. Prerequisite:
Junior classification or approval of instructor.
350. Environmental and Natural Resource
Economics. (3-0). Credit 3. I, II
Inspection of issues such as environmental degradation,
population growth, recycling, water use and depletion, natural
habitat protection, water and air pollution, acid deposition,
fishery management, and global warming using economically derived
principles and tools. Prerequisite: Junior classification or
approval of instructor.
400. Field Studies in Agricultural Economics.
Credit 1 to 2. II
Arranged during spring break or between semesters;
field trip to observe operations of agricultural business firms,
state and federal agencies and farms and ranches; test on field
studies required; additional expenses to be borne by students.
Prerequisite: AGEC 105 or 3 hours of economics.
413. Agricultural Cooperatives. (3-0).
Credit 3. I
Historical development and principles of cooperative
associations in our economic system; organizational and operational
aspects of cooperatives: legal considerations, financing, management
and member relations; future role of cooperatives. Prerequisite:
AGEC 105 or ECON 202.
414. Agricultural Market Analysis. (3-0).
Credit 3. I, II
Application of economic and marketing principles
to contemporary food and agribusiness marketing; practical
marketing management for agribusiness firms; market analysis;
marketing strategy, and planning as related to the emerging
trends in global food and agribusiness sector of the economy.
Prerequisites: AGEC 317; MKTG309 or 321.
422. Land Economics. (3-0). Credit 3. I,
II
Economic, institutional, and physical factors
involved in the use and control of natural resources; it includes
elements of introductory land economics as a discipline, economic
foundations of land economics, institutional influences on
land use, and the effects of public policy on land use. Prerequisite:
AGEC 105 or 3 hours economics.
425. Advanced Farm and Ranch Management.
(2-2). Credit 3. II
Management and decision-making principles in
planning and organizing commercial farms and ranches; management
functions of planning, implementation and control; entry, growth
and exit stages in a firm's life cycle. Prerequisites: AGEC
330; ACCT 209/229; or approval of instructor.
429. Agricultural Policy. (3-0). Credit
3. I, II
Analysis of the causes, nature and effects of
government participation in agriculture; interrelationship
of the American agriculture and agribusiness sector with the
political and economic system, public administration and interest
group representation. Prerequisite: AGEC 105 or 3 hours of
economics.
430. Macroeconomics of Agriculture. (3-0).
Credit 3. II
Physical and financial linkages between agriculture
and the rest of the economy; agriculture's importance to the
economy, the determinants of aggregate supply of agricultural
products, the organization and performance of financial intermediaries
serving agriculture, and the differential effects of national
economic policies on agriculture. Prerequisites: AGEC 105 or
3 hours of economics; AGEC 429.
431. Cases in Agribusiness Finance. (0-3).
Credit 3. I, II
Financial management of agribusiness firms.
Advanced topics in financial statement analysis, liquidity
management, investment analysis, and capital structure illustrated
through examination of agribusiness cases. Prerequisites: AGEC
317, 340; FINC 341.
432. Farm and Ranch Appraisal and Organization.
(2-2). Credit 3. II
Detailed problems involved in the appraisal
and organization of specific farms and ranches covering appraisal
principles, procedures, design, analysis and reporting. Prerequisite:
AGEC 422.*
440. Economics of Agribusiness. (3-0).
Credit 3. I, II
Economic features of the agribusiness system
and related management problems; problem recognition and economic
decision-making in marketing, production and finance for agribusiness
firms. Prerequisites: AGEC 340; ECON 323; FINC 341; MGMT 363;
MKTG 321.
447. Agricultural Prices. (3-0). Credit
3. I, II
Factors influencing the level of agricultural
commodity prices; price trends and seasonal variation; methods
of forecasting demand and prices; and futures trading. Prerequisite:
AGEC 314, 317.
448. Agricultural Commodity Futures. (3-0).
Credit 3. II
Activities of commodity futures exchanges, the
mechanics of trading futures contracts and the use of futures
trading for hedging and forward pricing; options, basis behavior
and hedging strategies for selected commodities. Prerequisite:
AGEC 105 or 3 hours of economics.
452. International Trade and Agriculture.
(3-0). Credit 3. I
Changing role of U.S. agriculture in a dynamic
world economy; national and international policies and institutions
affecting agriculture; exchange rates, tariffs, and non-tariff
barriers. Prerequisite: AGEC 105 or 3 hours of economics.*
454. Land-Oil and Gas Law. (3-0). Credit
3. I
Legal principles relevant to oil and gas property
including the characteristics of mineral ownership in general,
the fundamentals of the oil and gas lease and the basic tax
structure and treatment of oil and gas interest. Prerequisite:
AGEC 344 or MGMT 212 or approval of instructor.
481. Seminar. (1-0). Credit 1. I, II
Role of social scientist in agricultural industry;
professional opportunities and responsibilities; individual
investigations and reports; discussions with prominent leaders
in the field. Prerequisite: AGEC 105; 221 and senior classification
in agricultural economics or agribusiness.
484. Internship. Credit 1 to 3. I, II,
S
Supervised experience program conducted in the
area of the student's interest in agricultural economics and
agribusiness. May be taken two times. Prerequisites: AGEC 105
or 3 hours of economics; 2.25 GPR in major, overall and CBK
courses, if applicable.
485. Directed Studies. Credit 1 to 3 each
semester. I, II, S
Special problems not covered by other courses.
Content will depend upon problem studied. Prerequisites: AGEC
105 or ECON 202; 3 additional hours of agricultural economics;
junior classification; approval of department head and supervising
professor; 2.25 GPR in major, overall and CBK courses, if applicable.
489. Special Topics in... Credit 1 to 4.
I, II, S
Selected topics in an identified area of agricultural
economics. May be repeated for credit. Prerequisite: Approval
of department head.
