Agricultural Economics (AG ECON)

110 Introduction to Agricultural Business (3) An introduction to the field of agricultural business and some of the basic tools and concepts of decision-making. Concepts are illustrated in terms of selected current social and economic issues in the industry of production agriculture, agricultural business, and the computer application of those concepts.

210 Computer Applications in Agribusiness (3) An introduction to the use of computers in agribusiness applications with emphasis on mastering word processing, spreadsheet, graphics and financial software, statistics and mathematical programming. Course includes the use of computer gaming techniques for instruction in agribusiness. Prereq: Comp Sci 201 or permission of instructor.

301-302 Special Problems (1, 1) Independent study projects for students exhibiting special interest in applied areas of agricultural economics. Topics may be chosen from, but are not restricted to, production, marketing, management, policy, finance, and resource economics. Taught only by arrangement prior to registration.

325 Agriculture and Natural Resource Policy (3) Participants, issues, and the policy process. Historical development and current characteristics of commodity, credit, food, trade, environmental, and natural resource policy. Relationship between domestic and international agricultural and environmental policy. Prereq: Ag Econ 110.

335 International Agricultural Trade (3) Theory and practice in international trade in agricultural and food products. Trade policy, trade agreements, trade law, tariffs, customs practices, exchange rates, and their impact on trade in U.S. and world agriculture. Prereq: Ag Econ 110.

345 Agribusiness and Scientific Sales (3) Principles of selling products requiring scientific, agricultural, and engineering knowledge. Topics include feature/benefit table design, technical product distribution, wholesale and retail financing, used equipment appraisal, retail contracts, government bids, product support, cooperative advertising, adopting new technologies, leasing and rentals, use of industrial guides, group selling, specification selling, personal selling, and technical business plans. How to apply technical and scientific skills toward agricultural and engineered product selling. Prereq: Chem 121, Biol 110.

364 Agricultural Marketing (3) The American marketing system. Alternative market function of the marketing system. Commodity futures problems. Current marketing problems and possibilities for improvement. Prereq: Ag Econ 110.

375 Environmental and Agricultural Law (3) Survey of law and its application to agricultural and natural resource management. Property, contracts, torts, drainage and water rights. Environmental law, land tenure, employment, forms of business organization, estate planning, regulatory law and other selected topics. (Same as NRM 375)

395 Farm Real Estate Appraisal (3) Methods of valuing and appraising farm real estate, farm real property law, and gathering appraisal data. Income capitalization, sales comparison or market value, inventory or cost approaches to farm valuation. Valuation of buildings, insurance, tax, farm loan, and condemnation appraisals, and estate planning.

401-402 (601-602) Research Participation (3, 3) Application of the scientific method and techniques of research to investigation of problems in major subject areas of agricultural economics. Restricted to students with demonstrated ability to conduct a supervised research problem. Taught only by arrangement prior to registration.

445 (645) Natural Resources Economics (3) Economic, social, and political factors involved in conservation and utilization of natural resources. Discussion of investment criteria including benefit-cost analysis, multi-objective planning externalities, and welfare economics. Impact of outdoor recreation, aesthetics, and other non-market considerations associated with resource development. Students are required to write reports and give oral presentations. Prereq: Econ 202.

465 (665) Agricultural Finance (3) Analysis of capital requirements and investments of farm and agribusiness firms. Evaluation of credit needs and repayment capacity. Leverage, liquidity, and risk management. Sources and uses of credit. Agribusiness financial record keeping and interpretation of financial statements. Prereq: Ag Econ 110.

471 (671) Agricultural Management (3) Principles and procedures for determining most profitable farm organization and system of operation. Nature of managerial processes. Records and their uses and budgeting procedures. Operations of firms selling farm supplies and merchandising agricultural products. Application of microeconomic theory to the problems of resource allocation, enterprise selection, and scale of operation of agricultural firms. Prereq: Ag Econ 110.