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.
Update: Link to descriptions of new courses approved in spring 2006.
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 social 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.
215. Business Management
First semester. Three credits. L. Lee
Analysis of marketing, management, and financial decision-making tools in agribusiness.
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.
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.
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.
