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Course Criteria
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3.00 Credits
The application of legal principles to agribusiness. Includes a review of our legal system contracts, real property, personal property torts, business organization, estate planning, and laws affecting agribusiness.
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3.00 Credits
Marketing concepts, techniques and management of the U.S. marketing system from agricultural production, agribusiness, and traditional business perspectives. Broad, basic knowledge of marketing objectives, the marketing environment, strategic planning, marketing information sources, consumer demographics and lifestyle characteristics, product planning, distribution planning, promotion planning, and price planning.
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3.00 Credits
How To course in selling. Understanding customer's behavior, establishing and maintaining customer rapport, and negotiating a sale. Developing sales skills through discussion, role playing and demonstrations. Emphasis on building self-confidence through selling exercises involving class participation, special assignments, and targeted presentations.
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3.00 Credits
Introduction to basic accounting principles and concepts applicable to an agribusiness firm. Exposure to journals, ledgers and financial statements. Topics of the accounting cycle, inventories, payrolls, accounts receivable, income taxes and the potential use of computers.
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3.00 Credits
Personnel problems of recruiting, selecting, training, paying, and motivating employees of an agribusiness firm. Improving organizational effectiveness, functioning of a production supervisor, resolution of conflicts and leadership development.
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3.00 Credits
History of agricultural and environmental policy, policy formation, agricultural programs, effects of agricultural production on the environment, benefits and costs of agricultural and environmental policy, state of the environment, environmental regulations and their enforcement, optimal level of pollution, incentive-based environmental regulation, outlook for agricultural and environmental policy, and the sustainability of agriculture and of the environment.
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3.00 Credits
Economic analysis of personal decisions related to consumer purchases, time value of money, taxes, financial risk management, investment strategies, retirement planning and estate planning. Relationship of an individual's life cycle to budgeting and financial goals. Background information on wise use of credit, home purchase, life insurance, property insurance, health insurance and investment fundamentals.
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3.00 Credits
Introduction to economic principles of marginal benefits and costs with application to consumer and producer decisions. Functions of market exchange systems in determining prices and quantities and creation of wealth. Property rights and opportunities for exchange. Role of government in dealing with agricultural and resource problems. Macroeconomic analysis including inflation, unemployment, money and banking system. Credit will not be given for both ARE 201 and either EC 201 or EC 205.
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3.00 Credits
Record keeping for small businesses organized as sole proprietorships, partnerships, and family held corporations. Double entry accounting principals applied to service and merchandising businesses. General Journals, Combination Journals, Subsidiary Journals, Ledgers, Accounts Receivable, Accounts Payable, Posting, Worksheets. Financial Statements, Closing, Payrolls, Cost Basis, Depreciation, Section 179, Amortization, Financial Adjustments, and Income Tax Forms. Both manual and computerized systems. Semester project of keeping records for a business for a portion of the year.
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3.00 Credits
Functioning of the market economy, role of prices in determining the allocation of resources, the functioning of the firm in the economy, forces governing the production and consumption of economic goods. Credit not allowed in more than one of EC 301, 310, 401.
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