M.S. Agricultural Economics/Agribusiness
Department of Agribusiness, Applied Economics and Agriscience Education

GENERAL PROGRAM REQUIREMENTS

The general requirements for admission are an undergraduate degree from an accredited institution, with a grade point average of 2.65 (on a 4.0 scale) and a basic preparation in Agricultural Education, Education, General Agriscience, Agricultural Economics, Economics, Agribusiness or Business Administration, with a preparation in Economics/Statistics, generally will provide an acceptable preparation. Applicants who do not meet the req uirements will be considered on an individual basis.

Applicants are encouraged to provide GRE scores; however, these scores are not required for admission or graduation. A GPA of 3.0 is required for graduation.

PROGRAM REQUIREMENTS

Agricultural Economics/Agribusiness:

The Master of Science in Agricultural Economics/Agribusiness requires that the students complete one of two options: 

1. THESIS OPTION – 30 Hours:

This option requires a minimum of 30 semester hours, including 12 semester hours of "core" courses in advanced economic theory, a course in statistics and research methods, 9 semester hours of courses in the selected program track/concentrations, 1 elective 3-hour course, and 6 semester hours of thesis culminating in scholarly research work.  In addition, the successful completion and defense of  the thesis and a comprehensive examination are required.

2. NON-THESIS OPTION – 30 Hours:

This option consists of a minimum of 30 semester hours, including 15 semester hours of "core" courses in advanced economic theory, a course in statistics, econometrics and research methods, 9 semester hours of courses in the selected program track, 1 elective 3-hour course, and 3 semester hours of a scientific project.  This non-thesis option recognizes the changes within the agricultural economics discipline relative to the manner in which research is conducted and reported such that it becomes more applied, action-oriented and evaluative.   The student may choose to complete an econometrics project or an issues-based project.  In addition, the successful completion and defense of the project paper and a comprehensive examination are required.

The student pursuing the Master of Science degree in Agricultural Economics/Agribusiness is required to complete a common core of courses consisting of:

In addition, areas of concentration as specified require the following courses:

Agricultural Marketing and International Trade

Notes:  1.  Students who select the non-thesis option must take three hours of AGEC 708 (Econometrics) and three hours of AGED750 (Community Problems).

2.  The student, in consultation with his or her advisor, will select three courses from the program track of interest.

Agricultural Economics Classes

AGEC-632. International Agricultural Trade Policy                   Credit 3(3-0)
This course includes a review of economic and welfare theory applications relative to trade of agricultural commodities. Topical issues include the analysis of linkages among commodity programs, fiscal and trade policies for the U.S. and other countries in an interdependent world, development of an understanding of international institutions and their role in formulating aliments of strategic agricultural trade policy. Prerequisite: Consent of instructor.

AGEC-634. International Agribusiness Marketing                Credit 3(3-0)
This course will examine and analyze the series of problems, issues, policies, regulations and procedures relevant to the global marketing of agricultural and related commodities by agribusiness firms. Emphasis will be on combining firm-level agribusiness marketing concepts with international agribusiness marketing and export management practices; including the development of international agribusiness marketing plans and case studies from international agribusiness firms. Prerequisite: Consent of instructor.

AGEC-640. Agribusiness Management               Credit 3(3-0)
This course focuses on methods of research, plans, organization, and the application of management principles. Part of the student's time will be spent in consultation with agribusiness firms. Prerequisite: Consent of the instructor.

AGEC-641. Special Problems in Agribusiness Management   Credit 3(3-0)
This course relies heavily on case studies and simulation models to help make decisions and solve problems faced by agribusiness managers. Also, students will be exposed to quantitative techniques for analyzing and solving problems confronting the firm. Emphasis is placed on applying theoretical concepts to the real-world decision-making environment. Prerequisites: Ag. Econ 640, or consent of instructor.

AGEC-648. Appraisal and Finance of Agribusiness Firms    Credit 3(3-0)
This course evaluates principles of land valuation, appraisal and taxation. Special areas include the role of credit in a money economy, classification of credit, principles underlying the economic use of credit and the role of the government in the field of credit.

AGEC-650. Human Resource Development              Credit 3(3-0)
This course focuses on the analysis of human resources in relation to changing agricultural production technology in rural areas. Prerequisite: Consent of instructor.

AGEC-675. Computer Applications in Agricultural Economics  Credit 3(3-0)
This course is designed to provide students with the tools to utilize computers for agricultural decision-making. Emphasis will be placed on utilizing existing software packages for microcomputers and mainframe computers to make financial, economic and quantitative analysis of farm and agribusiness-related problems. Prerequisites: Ag. Econ. 330 or Econ. 330.

AGEC-705. Statistical Methods in Agricultural Economics Credit 3(3-0)
Advanced topics on analysis of variance, regression, correlation, multistage sampling and probability are covered in depth. Prerequisite: Ag. Econ. 646.

AGEC-708. Econometrics                   Credit 3(3-0)
This course focuses on the application of econometric techniques to agricultural economic problems, theory and estimation of structural economic parameters. Prerequisite: Ag. Econ. 705.

AGEC-710. Microeconomics                 Credit 3(3-0)
Price theory and the theory of the firm are covered comprehensively. The decision-making units in our economy and their market relationship are also examined.

AGEC-720. Macroeconomics                 Credit 3(3-0)
A continuation of aggregate economics, with emphasis upon measurement, growth and fluctuation of national income is the focus of this course.

AGEC-725. Research Methods in Agricultural Economics  Credit 3(3-0)
The philosophical bases for research methods used in agricultural economics are discussed. Alternative research methods are compared with respect to their dependence on the concepts of economic theory, mathematics and statistics. Alternative approaches to planning research projects are evaluated.

AGEC-730. Rural Development             Credit 3(3-0)
This course focuses on the application of economic theory, alternative growth models, requirements for growth, and quantitative techniques to problems concerning rural economic development and growth with emphasis on agriculture.

AGEC-732. Agricultural Policy                   Credit 3(3-0)
Advanced analysis of the role of agriculture in the general economy and of economic, political and social forces which affect development of agricultural policy is the substantive focus of this course.

AGEC-734. Agricultural Marketing and Interregional Trade Credit 3(3-0)
This course is designed to apply basic economic theory to interpret the essential components of the domestic and international marketing process for agricultural products. The primary focus will be on the spatial, temporal and form dimensional of market price analysis with significant emphasis on regional interrelationship and specialization, current trade issues and the rational for trade. Specifically, students enrolled in this course will receive intensive instruction in the complex organization and function of the world's food marketing system.

AGEC-735. Economic Development              Credit 3(3-0)
This course is designed to analyze factors and issues involved in the process of economic growth and development, with emphasis on developing countries. The theories, problems, objectives and strategies of development, including major policy issues, resources, and constraints of alternative strategies are discussed. The role of capital, technology, agriculture and international trade in the development process are examined.

AGEC-736. Agricultural Marketing Problems and Issues  Credit 3(3-0)
This course is designed to examine current complex problems in agricultural marketing and methods of developing solutions.

AGEC-738. Theory of International Trade                  Credit 3(3-0)
The principal aim of this course is to familiarize the student with the fundamental mechanisms and theory (pure and monetary) of international trade. Selected topics will include the law of comparative advantage, gains from trade, factor endowments and growth theories, commercial policy, foreign exchange and the balance of payments, and the monetary and portfolio balance mechanisms. Prerequisite: Consent of instructor.

AGEC-740. Production Economics                Credit 3(3-0)
This course focuses specifically on production economics theory in a quantitative framework. Technical and economic factor-product, factor-factor, and product-product relationships in single and multi-product firms under conditions of perfect and imperfect competition in both factor and product markets are topical areas.

AGEC-750. Social Organization of Agriculture              Credit 3(3-0)
This course is designed to analyze the status and role of agriculture in rural societies from a sociological perspective. Emphasis will be placed on understanding the organizational structure of agriculture and the intended and unintended consequences of rapid technological change on agriculture.

AGEC-756. Agricultural Price Analysis                 Credit 3(3-0)
The use of price information in the decision-making process is the essence of this course. The relation of supply and demand in determining agricultural prices and the relation of prices to grade, time, location, and stages of processing in the marketing system are considered. The course also includes advanced methods of price analysis, the concept of parity and the role of price support programs in agricultural decisions. Prerequisite: Consent of instructor.

AGEC-799. Thesis                  Credit 6(6-0)