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Course Criteria
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3.00 Credits
Application of production economic principles and modern decision-making techniques to the agricultural firm. The quantitative use of profit, productions and cost functions to analyze the input and output decisions of the agricultural firm seeking to maximize firm profit in constrained and unconstrained settings. Preq: Consent of instructor.
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3.00 Credits
Regression analysis, linear programming, and risk efficiency analysis techniques are presented and applied to agribusiness firms to improve firm economic efficiency. Microcomputer optimization and statistical software packages are utilized to develop firm level strategic plans to achieve efficient agribusiness outcomes in no risk and risky economic environments. Preq: AGRB 2080 with a grade of C or higher.
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3.00 Credits
Introduction to the economic theory, organization, and operating principles of agricultural commodity futures markets in the United States. Emphasizes speculating, hedging, and investing in agricultural commodity futures contracts from the standpoint of the agribusiness entrepreneur. Preq: AGRB 3090.
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3.00 Credits
Techniques for analysis of the growth and decline of regions, including economic-base theory, shift share, regional input-output, regional econometric models, and fixed impact models. Preq: AGRB 2020; or both ECON 2110 and ECON 2120.
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3.00 Credits
Development of rural economic activity in the context of historical, theoretical, and policy aspects of friction associated with spatial separation. Considers location factors, transfer costs, location patterns, and regional-growth policy. Preq: AGRB 2020 or ECON 2110.
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3.00 Credits
Topics include highest and best use analysis, data collection, and analyses. Stresses advanced appraisal procedures for income, cost, and comparable sales approach to real estate valuation. Covers eminent domain, the appraisal of property in transition, and specialized property. Preq: AGRB 3130 or FIN 3070.
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3.00 Credits
Utilizes basic principles of international economics (comparative advantage, free trade versus protectionism, exchange rate determination, etc.) to analyze the contemporary problems and issues of the world economy. Emphasizes application of economic principles to current globalization trends. Preq: AGRB 2020 or ECON 2000 or ECON 2110.
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3.00 Credits
Application of agronomic and economic principles in solving problems related to the production and marketing of agronomic crops. Major part of the course is a case study in which detailed analysis of a farm, agribusiness, or environmental situation is made with students making formal written and oral presentations of results. May also be offered as PES 6260.
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3.00 Credits
Review of public agricultural policy programs in the United States and a critical examination of current and proposed government policies and programs affecting the agricultural sector of the economy. Includes economic considerations as related to past and current farm price and income problems. Preq: AGRB 2020 or ECON 2000 or ECON 2110.
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3.00 Credits
Review of the basic theory of price under competitive conditions and various modifications; nature, measurement, and causes of daily, seasonal, and cyclical price fluctuations; geographical price relationships; nature, function, and behavior of futures markets; government price programs. Preq: AGRB 3080 or ECON 4050; and ECON 3060 or ECON 3140.
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