The Department of Agricultural and Applied Economics offers an excellent environment for learning. Our award-winning faculty offer courses that run the gamut from Water Resources Economics and Farm Appraisal to Agribusiness Law and International Agribusiness Trade Policy.

We also offer a variety of techonological support including both undergraduate and graduate computer labs, a decision support lab, and a distance learning center.

2060. Economic Perspectives on the Environment and Natural Resources. 3 hours.
Oasis Title: ECON AND ENVIRON.
Not open to students with credit in AAEC 3060 or AAEC 4650 or ECON 2100 or ECON 4150. An exploration of the relationships between a healthy environment and a healthy economy. Students gain conceptual insight, problem-solving skills, and general knowledge needed to better understand and solve environmental and natural resource issues and problems from an economic perspective that recognizes important linkages between economic, environmental, and ethical systems.
Offered fall semester every year.

2580. Applied Microeconomic Principles. 3 hours. Economic principles applied to individual consumer and producer behavior in a market economy: using economic principles to analyze, and solve problems in resource allocation, food production, distribution, environmental management, economic development, and international trade.

3010. Farm Organization and Management. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. A scientific approach to the study of individual farm programs for the purpose of determining methods to be used for increasing farm income.

3020-3020L. An Introduction to Computers in Agribusiness and Natural Resources. 2 hours. One lecture and one 2-hour lab period. An introduction to computer technology, and the application of computer technology for the solution of business and economic problems in agriculture and natural resources. Applications will include spreadsheets, word processing, electronic mail, and locating and obtaining information over the Internet.

3040. Agribusiness Marketing. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. A general course in agribusiness marketing for farm products describing and analyzing agribusiness marketing functions to have a comprehensive understanding of the principles of agribusiness marketing.

3060. Principles of Resource Economic. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. Analysis of basic theoretical concepts and analytical tools necessary to evaluate resource use, allocation, and policy. Emphasis is placed upon theoretical applications to natural, rural, and agricultural resources which impact both public sector and private sector economic activities.

3100. Food and Fiber Marketing. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. Foundation for understanding all basic concepts of marketing food and fiber and related services and for making essential marketing decisions; approaches food and fiber product marketing as being individual and organization activities aimed at facilitating and expediting exchanges within a set of dynamic environmental factors.

3200. Selling in Agribusiness. 3 hours. Principles and practices of sales and merchandising techniques appropriate for agricultural selling and marketing. The psychology of selling, the selling process, spatial marketing strategies, and communication skills are emphasized, as used in agribusiness.

3300. Agribusiness Accounting. 3 hours. A survey of accounting for agribusiness firms with emphasis on financial statement preparation and analysis of accounting information for managerial purposes. Special emphasis is given to problems of income measurement and asset valuation for agribusiness firms.

3400. Introduction to Agricultural Policy. 3 hours. Prerequisite: AAEC 2580 or ECON 2106 and ECON 2105. Domestic and international government policies affecting agriculture, agribusinesses, and rural economies. Policy alternatives aimed at solving economic and environmental problems of the food and agricultural sector are identified and evaluated.

3510. Agricultural Credit. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. An application of the techniques and principles of finance of the farm firm and a study of needs, sources and problems associated with credit and capital use among individual farm business units.

3580-3580L. Intermediate Economic Principles. 4 hours. Three lectures and one 2-hour lab period. Not open to students with credit in ECON 4010. Prerequisite: AAEC 2580 or ECON 2106 and MATH 2210-2210L or MAT 2110. Competitive and imperfect markets in the allocation of consumer goods and input factors in the free enterprise economy.

3610-3610L. Applied Econometrics. 4 hours. Three lectures and one 2-hour lab period. Prerequisite: AAEC 3580-3580L and STAT 2000. Basic applied econometric analysis, including simple regression analysis, hypothesis testing, model selection and data collection techniques. Applications are an integral part of the course, with students using computers to solve problems common in agricultural and environmental sciences.

3690. Agribusiness Finance. 3 hours. Prerequisite: AAEC 2580 or ECON 2106 and AAEC 2110 or ACCT 2101. Financial concepts and analysis related to agribusiness firms, including analysis based on financial statements, business and financial risk, valuation, and capital budgeting.

3910. Internship. 3 hours. Prerequisite: Junior standing and permission of department. This course provides educational experience in the economics of management of a farm or agribusiness firm or with a natural resource or environmental management agency, organization, or firm.

3980. Introduction to Agribusiness Management. 3 hours. Prerequisite: AAEC 2580 or ECON 2106 Managerial concepts, procedures, and techniques in agribusiness management. Techniques of planning, organization, staffing, directing, and controlling functions of management.

4040-4040L. Quantitative Approaches to Agribusiness Management. 4 hours. Three lectures and one 2-hour lab period. Prerequisite: AAEC 2020-2020L and STAT 2000. Agribusiness decision making and forecasting using probabilities and simulation.

4050. Agribusiness and Natural Resource Law. 3 hours. A survey of legal principles as they apply to agribusiness, directed toward making students aware of rights and obligations of agribusiness firms. The materials should enable students to recognize and avoid legal problems, and effectively utilize legal counsel. Not open to students with credit in AAEC/EHSC 4250/6250, AAEC 4930/6930 or FORS 5820/7820.

4210. Production Economics: Theory with Applications. 3 hours. Prerequisite: AAEC 3580-3580L. The application of fundamental economic principles in determining efficient adjustments in agricultural resource use consistent with economic growth, and changing technology and economic conditions.

4250 (EHSC). Environmental and Public Health Law. 3 hours. Not open to students with credit in AAEC 493. Specialized law course with coverage of basic legal principles and procedures as they relate to environmental regulations and public health. Coverage of common law, torts, nuisances, regulatory standards, and state and federal environmental laws. Delineation of significant constitutional and federal regulations that affect managerial decisions.

4510. Farm Appraisal. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. An application of the models of appraisal to farm property, including factors influencing farm land and building values, such as land use, soils, crops, livestock, and buildings.

4650. Environmental Economics. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. Economic theory and methods applied to environmental problems and policies. Policies affecting individual and business decisions about environmental quality, policy formation and incentive-based solutions; alternatives for reform evaluated for political and economic

4710. Rural Economic Development and Growth. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. The relationship of inputs and outputs between agriculture and agricultural businesses; analysis of factors affecting development and economic growth in developing areas.

4760. The Economics of Agricultural Processing and Marketing. 3 hours. Prerequisite : AAEC 3580-3580L. The economics of the agricultural processing and marketing sectors. Topics covered include economics of assembly line production; efficient plant size, location, and operation; the economics of commodity storage; the economics of the marketing sector; spatial competition; and price and quantity competition among firms with market power.

4800-4800L. Water Resource Economics. 3 hours. Three lectures and 1-hour lab period. Prerequisite: AAEC 2580 or ECON 2106. A study of the economic aspects of the use, supply, development and management of water resources with special emphasis on river basin and project planning, benefit-cost analyses, water demands, and multiple use management of water resources.

4870 (FINA). Futures and Option Markets. 3 hours. Prerequisite: AAEC 2580 or ECON 2106. Development, functions, and importance of commodity markets. Close attention is given to futures and option contracts, issues such as speculation, the roles of commission houses, commodity exchanges, clearinghouses, and the use of future contracts as instruments for financing business activities. Technical and fundamental trading theories are analyzed.

4910. International Agribusiness Marketing and Management (Agribusiness Abroad).   3 hours. Directed field study tour(s), site visits to agribusiness firms, and lectures in agribusiness marketing and management from an international perspective. Language, cultural, and environmental aspects of agricultural production, processing, and international marketing.

4930. Environmental Law and Governmental Regulation. 3 hours. Not open to students with credit in AAEC(EHSC) 4250. Introduction to regulatory theory, externalities and market failures, definition of key regulations affecting agribusiness, overview of local government law and delineation of environmental laws relating to agriculture. Current environmental issues are related to statutory, administrative, and regulatory authorities.

4960. International Agricultural Trade Policy. 3 hours. Prerequisite: AAEC 3580-3580L or ECON 4010. Basic international trade theory, its application to agricultural commodity trade, and the effects of international relations and agricultural policy on world trade.

4960H. Directed Reading and/or Projects (Honors) (Agricultural Economics). Prerequisite: Senior standing and permission of Honors Program. 3 hours. This course affords Honors students of senior division standing the opportunity to engage in individual study, reading, or projects in Agricultural Economics under the direction of a project director.

4970H. Directed Reading and/or Projects (Honors) (Environmental Economics and Management). Prerequisite: Senior standing and permission of Honors Program. 3 hours. This course affords Honors students of senior division standing the opportunity to engage in individual study, reading, or projects in Environmental Economics and Management under the direction of a project director.

4980. Agribusiness Management. 3 hours. Prerequisite: AAEC 3040 or 3100 and 2110 or ACCT 2101. Provides a broad overview of he skills needed to be an effective manager of an agribusiness and to help achieve perspective on integrating these skills into a workable approach to management; provides a step-by-step approach to the application of practical management skills in marketing, demand analysis, forecasting, finance, plant operations, and personnel.

4980H. Directed Reading and/or Projects (Honors) (Agribusiness). Prerequisite: Senior standing and permission of Honors Program. 3 hours. This course affords Honors students of senior division standing the opportunity to engage in individual study, reading, or projects in Agribusiness under the direction of a project director.

4990. Special Topics in Agricultural and Applied Economics. 1-3 hours., Repeatable for maximum 3 hours credit. Prerequisite: Permission of department. Special problems in agricultural, environmental, or other applied economics analysis, decision making, and policy studies.

4990H. Honors Thesis. Prerequisite: Senior standing and permission of Honors Program. 3 hours. This course provides opportunity for an Honors student to undertake individual research in the field of his/her major or in a closely related field