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| 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. |
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| GOALS AND OBJECTIVES: | * Communicate ideas and concepts of economics in agriculture. * Think beyond the lecture, text, and classroom. |
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| REQUIREMENTS: | |||
| PREREQUISITES: | Sophomore standing and math background. | ||
| OTHER: | |||
| EFFECTIVE DATE: | December 2003 | ||