>>PRINT
Agricultural Economics
AG ECONOMICS
CLASS CODE: AGBUS 210 CREDITS:  3
DIVISION: AGRICULTURAL AND LIFE SCIENCES
DEPARTMENT: AGRICULTURE BUSINESS SCIENCE & TECHNOLOGY
GENERAL EDUCATION: This course does not fulfill a General Education requirement.

DESCRIPTION: A systematic introduction to basic economic concepts and issues as they relate to the agribusiness sector in the U. S. economy.
TAUGHT: Winter
CONTENT AND TOPICS: * What is Agricultural Economics.
* The U. S. Food and Fiber Industry
* Theory of consumer behavior.
* Consumer equilibrium and market demand.
* Measurement and interpretation of elasticity's.
* Introduction to production and resource use.
* Economics of input substitution.
* Economics of product substitution.
* Market equilibrium and product price: Perfect competition.
* Market equilibrium and product price: Imperfect competition.
* Government intervention in agriculture.
* Supporting farm prices and incomes.
* Product markets and national output.
* Consequences of business fluctuations.
* Macroeconomic policy in agriculture: Monetary policy and Fiscal policy.
* Economics of Agricultural Trade (domestic and international) Policy.
GOALS AND OBJECTIVES: * Communicate ideas and concepts of economics in agriculture.
* Think beyond the lecture, text, and classroom.
REQUIREMENTS:
PREREQUISITES: Sophomore standing and math background.
OTHER:
EFFECTIVE DATE: December 2003