Undergraduate Catalog 2005 - 2006

Agricultural and Resource Economics (ARE)

(Formerly Agricultural Economics and Rural Sociology)
Head of Department: Professor Emilio Pagoulatos
Department Office: Room 318, W.B. Young Building
For major requirements, see the College of Agriculture and Natural Resources section of this Catalog.
 
110. Population, Food, and the Environment

Either semester. Three credits.

The role of agriculture in the growth and development of societies throughout the world. Economic and sociological problems of food and fiber needs and production in the developing and the advanced societies. CA 2.

150. Principles of Agricultural and Resource Economics

Either semester. Three credits. Taught concurrently with SARE 050.

An introduction to agricultural economics, the role of agriculture in today's United States economic system, and relationships that regulate the entire economic environment. CA 2.

215C. Business Management

First semester. Three credits. L. Lee

Analysis of marketing, management, and financial decision-making tools in agribusiness, including computer applications.

217. Business Finance in Food and Resource Industries

Second semester. Three credits. Prerequisite: ARE 150 or ECON 112. L. Lee

Analysis of financial statements, credit, risk, and investment decision-making.

221. Business Strategies and Policy in Food Industries

Second semester. Three credits. Recommended preparation: ARE 150  or ECON 112, or ECON 102. Cotterill

Market structure and business strategies of firms, including pricing, advertising, entry, and new products.  Analysis of mergers and other antitrust issues from a public as well as firm perspective.  Case studies of actual events.

222. Food Trends and the Changing Consumer

Second semester. Three credits.

Determinants of food consumption trends. Particular attention to demographic and economic factors and to changing concerns regarding health and food safety.

225. Marketing and Futures Trading

Second semester. Three credits. Recommended preparation: ARE 150  or ECON 112 , or ECON 102. Lopez

Principles and applications of marketing, with special emphasis on the use of futures markets for profit and price risk management.  Includes marketing case studies, internet applications, and a futures simulation exercise.

234. Environmental and Resource Policy

Either semester. Three credits. Altobello

Economic and policy aspects of natural resource use and environmental quality issues. Designed for students with diverse departmental affiliations.

234W. Environmental and Resource Policy

Prerequisite: ENGL 105 or 110 or 111 or 250. 

235. Environmental and Resource Economics

Second semester. Three credits. Recommended preparation: ARE 150  or ECON 112 , or ECON 102.

Natural resource use and environmental quality analysis using economic theory. Reviews of empirical research and relevant policy issues.

236. The Economics of Integrated Coastal Management

Either semester. Three credits.  Recommended preparation: ARE 150 or ECON 112. R. Pomeroy

This course will explore the theory and practice of integrated coastal management (ICM); introduce major concepts, processes, tools and methods of ICM; and analyze United States and international experiences with ICM.

237. Marine Fisheries Economics and Policy

Second semester.  Three credits.  Recommended preparation: ARE 150 or ECON 112. R. Pomeroy

This course will explore the various natural, human and management components of the fishery system and present the application of economics and policy analysis for the optimal allocation of resources to a fishery.

238. Valuing the Environment

Second semester. Three credits. Prerequsite: ARE 150 or ECON 112. Larson

Conceptual and practical understanding of main methods used to evaluate economics benefits of environmental protection and damages from degradation.  Methods include: change in productivity, hedonic pricing, travel cost method, contingent valuation, defensive expenditures, replacement costs, and cost-of-illness.  Topics covered include: recreation, soil-erosion, energy, forestry, hazardous waste, air pollution, deforestation, wetlands, wildlife, biodiversity, noise, visibility, water, and water pollution. 

250. Aquaculture Economics

Second semester. Three credits. Prerequisite: ARE 150 or ECON 102 or ECON 112. R. Pomeroy

Application of economic and business principles by firms engaged in aquaculture.  Focus on production economics, managerial analysis, investment analysis, marketing and public policy related to aquaculture systems.

255. The Role of Agriculture in Economic Development

First semester. Three credits. Recommended preparation: ARE 150  or ECON 112 ,or ECON 102. Credit may not be received for both ARE 305 and 255.

The role of agriculture in the economic development of less developed countries. Population and rural employment, the economics of food consumption and nutrition, international food aid, agricultural marketing and trade, land tenure, agrarian reform, and appropriate agricultural technology.

257. Benefit Cost Analysis and Resource Management

Second semester. Three credits. Prerequisite: ARE 150  or ECON 112. Credit may not be received for both ARE 307 and 257.

Theoretical foundations and applications of benefit-cost analysis in project appraisal and in evaluation of public policies regarding resource management and environmental protection.

260. Food Policy

Second semester. Three credits. Recommended preparation: ARE 150 , or ECON 112, or ECON 102. Lopez

Analysis of food and agricultural policies in the United States and abroad.  Designed for students with diverse departmental affiliations.

260W. Food  Policy

Prerequisite:ENGL 105 or 110 or 111 or 250. . Recommended preparation: ARE 150  or ECON 112 ,or ECON 102.

275. Agribusiness Management and Entrepeneurship

First semester. Three credits. Prerequisite: ARE 150 or ECON 112.Cotterill

Management techniques for achieving the merchandising objective and standards of the firm, with maximum efficiency in the use of capital, personnel, facilities, and equipment.  Directed toward those students who plan to enter agribusiness.

280. Economic Organization of Agriculture

First semester. Three credits. Recommended preparation: ARE 150  or ECON 112, or ECON 102.

Economic organization of competitive industries using agriculture as an example of one such industry. The problems growing out of the competitive structure of agriculture, and the economic concepts, principles and research results applicable to these problems.

285. International Commodity Trade

First semester. Three credits. Recommended preparation: ARE 150  or ECON 112 , or ECON 102. Pagoulatos

The basic principles of international commodity trade and market institutions. Applications to current problems of international commodity trade and policy.

290C. Quantitative Methods for Agriculture
Second semester.  Three credits. Open only with consent of instructor. T. Lee
Data collection, compilation, charts, frequency distribution, simple descriptive statistics, index numbers, economic time series analysis and simple correlations.
295. Seminar

Either or both semesters. Credits and hours by arrangement. May be repeated for credit with a change of topic. Open only with consent of instructor.

Participation in staff conferences and discussions, reviews of important books, and reports on recent developments in economic theory and research.

296. Agribusiness Internship

Either semester or summer. One to six credits (repeatable for a total of six credits). Prerequisite: Open  to Junior - Senior Resource Economics majors with Independent Study Authorization.

This course is designed to provide students with an educational experience in agribusiness firms or agribusiness-related institutions. Each student taking this course must submit a formal written report for evaluation and meet all other course requirements as specified by the instructor.

297. Resource Economics Internship

Either semester or summer. One to six credits (repeatable for a total of six credits). Open only to Junior - Senior students majoring in Resource Economics who have demonstrated outstanding academic ability and possess excellent professional potential. Requires Independent Study Authorization with consent of department head and advisor.

This course is designed to provide students with a meaningful experience in a formalized agribusiness or natural resources program under supervised conditions. Each student taking this course must submit a formal written report for evaluation and meet all other course requirements as specified by the instructor.

298. Special Topics

Either semester. Credits and hours by arrangement. May be repeated for credit with a change of topic. Open only with consent of instructor.

Topics and credits to be published prior to the registration period preceding the semester offerings.

299. Independent Study

Either or both semesters. Credit and hours by arrangement. Prerequisite: Open to students with Independent Study Authorization.

This course is designed primarily for Resource Economics majors.