Agricultural and Resource Economics (ARE)

Head of Department: Professor Rigoberto Lopez

Department Office: Room 305, W.B. Young Building

For major requirements, see the College of Agriculture, Health and Natural Resources section of this Catalog.

1110. Population, Food, and the Environment

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.

1150. Principles of Agricultural and Resource Economics

Three credits. Taught with SARE 450.

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.

3150. Applied Resource Economics

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201.

Applications of intermediate level microeconomic theory to problems and policy issues in agriculture, natural resources, and the environment. Topics include supply, demand, market equilibrium, consumer and producer behavior, perfect and imperfect competition, externalities, common property resources, public goods, and welfare economics. Emphasis will be placed on using the theory in computational exercises.

3210. Essentials of Accounting and Business

Three credits. (Taught with SARE 460.)

An analysis of basic business principles, fundamentals and concepts for agribusiness entrepreneurs.

3215. Business Management

Three credits.

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

3221. Business Strategies and Policy in Food Industries

Three credits. Recommended preparation: ARE 3150.

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.

3222. Marketing and Consumer Behavior

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201. Recommended preparation: ARE 3215.

Principles of marketing and determinants of consumer choices. Particular attention to demographic economic factors and to changing concerns regarding health and food safety.

3225. Price Analysis and Futures Trading

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201; and STAT 1000Q.

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

3235. Marine Resource and Environmental Economics

Three credits. Recommended preparation: ARE 1150 or ECON 1200 or 1201.

Fundamental theory, methods, and policy implications of environmental and resource economics, with an emphasis on coastal and marine environments. Topics include pollution policy, fisheries, water quality and allocation, international trade, wildlife and biodiversity, land use, and economic valuation. Designed for students with diverse departmental affiliations.

3260. Food Policy

Three credits. Recommended preparation: ARE 1150 or ECON 1200 or 1201.

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

3261W. Writing in Food Policy

One credit. Prerequisite: ENGL 1010 or 1011 or 2011; open only to Resource Economics majors, others by consent. Corequisite: ARE 3260. Not open to students who have passed ARE 3260W.

A writing intensive course on issues related to food policy, integrated with course content in ARE 3260.

3333. Computational Analysis in Applied Economics

Three credits. Prerequisites: STAT 1000Q or 1100Q, or similar; laptop computer in class. Recommended preparation: ECON 1200 or 1201 or ARE 1150.

Fundamental concepts of statistics and economics through analysis of economic data using computer spreadsheets.

3434. Environmental and Resource Policy

Three credits.

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

3436. The Economics of Integrated Coastal Management

Three credits. Recommended preparation: ARE 1150 or ECON 1200 or 1201.

Explores the theory and practice of integrated coastal management (ICM); introduces major concepts, processes, tools and methods of ICM; and analyzes United States and international experiences with ICM.

3437. Marine Fisheries Economics and Policy

Three credits. Recommended preparation: ARE 1150 or ECON 1200 or 1201.

Explores the various natural, human and management components of the fishery system and presents the application of economic and policy analysis for the optimal allocation of resources to a fishery.

3440W. Writing in Environmental and Resource Policy

One credit. Prerequisite: ENGL 1010 or 1011 or 2011; open only to Resource Economics majors, others by consent. Corequisite: ARE 3434. Not open to students who have passed ARE 3434W.

A writing intensive course integrated with course content in ARE 3434.

3464. Program Evaluation and Benefit-Cost Analysis

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201; MATH 1071Q or 1110Q or 1126Q or 1131Q; and STAT 1000Q or 1100Q.

Case studies to present the process by which organizations can best optimize programming. Topics include performance indicators, the logical framework and results matrix, sample design, impact evaluation methodologies and project appraisal. Not open to students who have passed ARE 4464.

4217. Business Finance in Food and Resource Industries

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201; open to juniors or higher. Recommended preparation: ARE 3215.

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

4275. Managerial Economics

Three credits. Prerequisite: One of MATH 1071Q, 1110Q, 1131Q, or 1151Q; STAT 1000Q or 1100Q; ARE 1150 or ECON 1200 or 1201; open to juniors or higher.

Management techniques for achieving the economic objectives 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.

4279. International Commodity Trade

Three credits. Recommended preparation: ARE 1150 or ECON 1200 or 1201.

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

4305. The Role of Agriculture and Natural Resources in Economic Development

(Formerly offered as ARE 3255.) Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201; MATH 1071Q or 1110Q or 1126Q or 1131Q. Credit may not be received for both ARE 4305 and 5305.

The role of agriculture in the economic development of less developed economies. Microeconomic dimensions of agricultural development, economics of food consumption and nutrition, agricultural technology and productivity, agricultural supply, land tenure and agrarian reform, foreign assistance, trade agreements and agricultural price policy.

4438. Valuing the Environment

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201.

Conceptual and practical understanding of main methods used to evaluate economic 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.

4444. Economics of Energy, Climate, and the Environment

Three credits. Prerequisites: ARE 1150 or ECON 1200 or 1201; open only to juniors or higher.

Economics of energy issues with special reference to local and regional environmental quality, global climate change, and energy markets. Environmental and economic implications of developing alternative sources of energy. Regulatory policies in relation to transportation, industry, commercial and residential energy use.

4462. Environmental and Resource Economics

Three credits. Prerequisite: ARE 1150 or ECON 1200 or 1201; MATH 1071Q or 1110Q or 1126Q or 1131Q; open to juniors or higher. Credit may not be received for both ARE 4462 and 5462.

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

4897. Honors Thesis

Three credits. Prerequisite: ENGL 1010 or 1011 or 2011; open to seniors; open only with consent of instructor to students in the Honors Program.

4981. Agribusiness Internship

(Formerly offered as ARE 4081.) Variable credits (1-6). Repeatable for a total of six credits. Prerequisite: Open only to Junior – Senior Resource Economics majors with Independent Study Authorization.

Provides 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.

4991. Resource Economics Internship

(Formerly offered as ARE 4091.) Variable credits (1-6). Repeatable for a total of six credits. Prerequisite: Open only to junior and 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.

Provides 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.

4993. Foreign Study

(Formerly offered as ARE 4093.) Variable credits (1-15). Hours by arrangement. Prerequisite: Consent of Department Head required, normally to be granted prior to the student’s departure. May count toward the major with consent of the advisor and Department Head. May be repeated for credit.

Special topics taken in a foreign study program.

4994. Seminar

(Formerly offered as ARE 4094.) Credits and hours by arrangement. May be repeated for credit with a change of topic.

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

4995. Special Topics

(Formerly offered as ARE 4095.) Credits and hours by arrangement. Prerequisite: Open only with consent of instructor. May be repeated for credit with a change of topic.

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

4999. Independent Study

(Formerly offered as ARE 4099.) Credit and hours by arrangement. Prerequisite: Open to students with Independent Study Authorization.

Designed primarily for Resource Economics majors.

 

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