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Course Criteria
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3.00 Credits
Prerequisite(s): 3213, 3333, MATH 2103, and ECON 3023 or 3113. Quantitative analysis of agricultural supply and demand in situations involving risk and uncertainty within the institutional setting of agricultural markets. Use of spreadsheets to perform regression analysis and simulation of potential market outcomes. Analysis of specific agricultural market cases with written and oral presentation of the results.
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3.00 Credits
Prerequisite(s): 3213 and 3333. The economics of commodity futures markets. The vocabulary of futures markets and the mechanics of trading and hedging. Basis and producer marketing strategies. Fundamental analysis and statistical analysis of data. Technical analysis, behavioral finance, efficient market hypothesis, and basics of option pricing.
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3.00 Credits
Prerequisite(s): 1114 or ECON 2103. Contemporary international agricultural trade theory and applications. Tools to identify, evaluate critically, and seek solutions to complex international trade and development problems, such as gains from trade, impacts of trade barriers on social welfare, export promotion effectiveness, trade impacts on environment and land degradation, social benefits and costs of free trade areas, and impacts of genetically modified crops on trade.
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3.00 Credits
Prerequisite(s): 3213, 3333, 3603, MATH 2103, and ECON 3023 or 3113. The development of problem solving and risk management skills needed on the modern farm or ranch. Use of spreadsheets to perform production planning and analysis of farm and ranch problems with linear programming, simulations, and other tools. Analysis of the acquisition of resources and the use of information systems in managing the individual farm or ranch business.
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3.00 Credits
Prerequisite(s): 3213, 3333, 3603, MATH 2103, and ECON 3023 or 3113. Application of modern decision theory in the uncertain environment that the agricultural business operates. Planning, organizing, implementing, coordinating, and controlling problems associated with establishing an agricultural business, achieving firm growth, and operating the firm through time. Use of spreadsheets to perform production planning and analysis related to agricultural business operation with linear programming, simulations, and other tools. Analysis of the interaction of resources, prices and production alternatives.
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3.00 Credits
Prerequisite(s): 3503 or ECON 3113 or consent of instructor. Economic, social, and political factors relating to conservation, natural resource development, and environmental quality. Valuation of priced and non-priced natural and environmental resources. Analysis of environmental and natural resource policy and the role of public and private agencies in conservation and development.
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3.00 Credits
Lab 2. Prerequisite(s): 3423. Estimating the market value of agricultural real estate using the three approaches to value - sales comparison, cost, and income approaches. Analysis of sales to value the different characteristics of the farm.
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3.00 Credits
Prerequisite(s): 3213, 3333, MATH 2103, and ECON 3023 or 3113. Economic characteristics and problems of agriculture; evolution and signif icance of programs and policies.
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3.00 Credits
Prerequisite(s): 1114. Concepts and theories of regional and community economics, including input-output, economic base, simulation, budget location and routing. Oklahoma applications.
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3.00 Credits
Prerequisite(s): Consent of instructor. A two-three week international travel component. An integrated approach to the cultural, agricultural, historical, technological, political, economic, and religious backgrounds of the region. Comparison of the agricultural business environment of the region to that of the US.
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