Agricultural
and Resource Economics (ARE)
Undergraduate Courses:
110. Agribusiness Accounting. II. 3 hr. Introduction to accounting for agricultural,
rural, and small business managers. Emphasis on the accounting cycle, analysis,
and interpretation of financial statements, income taxes, and managerial
accounting. (Students having prior college credit in accounting are not
eligible for this course.)
150. Introductory Agricultural and Agribusiness Economics. 3 hr. Introduction to basic agricultural economics and agribusiness
concepts, and the application of these concepts to agricultural and agribusinesses
issues.
187. Energy Resource Economics. I, II. 3 hr. Dilemmas posed for developing and modern
societies by rising energy demands amid concerns for the world’s environment.
Economics of fuel sources and technologies, and historical and new concerns
over resource scarcities.
188. National Energy Policy. II. 3 hr. Resource and energy policy problems on a national
level, including mineral import quotas, prorationing, federal tax and land-law
policy, leasing, mineral research and education, health, and social concerns.
199. Orientation to Agriculture and Resource Economics. 1 hr. Orientation to degree programs and requirements,
departmental resources, curriculum options, student responsibilities and opportunities.
201. Principles of Resource and Energy. II. 3 hr. PR: Third-year standing. Analyzes problems
important or peculiar to mineral industry economics; exhaustion, externalities,
risks, production cycle, industry structure, pricing, role of minerals in
development and trade, resource planning. Energy, metals, industrial minerals.
(3 hr. lec.)
204. Agribusiness Management. II. 3 hr. Overview of the agribusiness decision-making
process, and the functions of agribusiness management; analysis of financial
statements and budgeting for evaluating profitability of alternative
enterprises and practices.
220. Introductory Environmental and Resource Economics. II. 3 hr. Economic analysis of environmental pollution,
natural resource conservation and management, outdoor recreation, public land
use, wildlife resources, water use, property rights, and
benefit-cost issues.
293. Special Topics. I,
II, S. 1-6 hr. PR: Consent. Investigation of topics not covered in regularly
scheduled courses.
370. Recreation/Tourism Economics. 3 hr. PR: ARE 220 or Consent. Principles of economic
analysis as applied to recreation and tourism resources, including economic
impact and cost-benefit analyses.
382. Agricultural and Natural Resources Law. I. 3 hr. Introduction to legal concepts, principles, and
practices related to environmental, natural resource, and agricultural issues;
in the context of the legal system within which statues are enacted,
administered, and enforced.
401. Applied Demand Analysis. II. 3 hr. Consumer demand economics applied to
environmental, natural resource, and agricultural issues; analysis of factors
that influence demand and determine prices; special applications to non-market,
environmental, and natural resource amenities.
402. Applied Production Economics. I. 3 hr. Production economics applied to agricultural,
environmental, and resource issues; production, multiple-product, and cost
functions, and joint production; effects of environmental and natural resource
management regulations on the production process.
406. Applied Quantitative Methods. 3 hr. PR: ARE 150. Application of basic quantitative
concepts and methods applied to agribusiness and natural resources. Topics include
applied economics, statistics, mathematics, and financial concepts and decision-making
tools for determining optimum allocation of resources for production processes.
410. Environmental and Resource Economics. I. 3 hr. PR: (ARE 401 and ARE 402) or ECON 301 or Consent.
Economic analysis of natural resource and environmental problems; management of
renewable and non-renewable resources and environmental amenities; market
failure, externalities, benefit-cost and risk analysis; property rights and the
“taking” issue.
411. Rural Economic Development. I. 3 hr. Economic trends, development policies, and
analysis of rural economies in the
413. Economic Development. I, II. 3 hr. PR: ECON 201 and ECON 202. The problems, changes, and
principal policy issues faced by non-industrialized countries.
420. Agricultural Cooperatives. I. 3 hr. History, principles, organization, management, taxation,
and legal aspects of agricultural, marketing, supply, and service cooperatives
in the U.S. Development of non-agricultural cooperatives. (Offered in fall of
odd years.)
431. Marketing Agricultural Products. II. 3 hr. Organization, functions, and analysis of the
agricultural marketing system. Food consumption, exports, price analysis,
marketing costs, market power, commodities futures market, food safety, and government
regulations.
435. Marketing Livestock Products. I. 3 hr. Livestock marketing practices and policies. Supply
and demand, livestock price cycles, grading, marketing alternatives,
processing, and retailing. Economic analysis of alternatives, current issues,
and trends. (Offered in fall of even years.)
440. Futures Markets and Commodity Prices. I. 3 hr. Analysis of price-making forces which operate in
the market place; emphasis
on major agricultural and mineral
commodity and futures markets.
445. Energy Economics.
II. 3 hr. Analysis of the energy sector and its relationship to the rest of the
economy; energy security, deregulation, full cost pricing, substitutability
among energy sources, transmission, new technologies, environmental considerations.
450. Agriculture, Environmental and Resource Policy. II. 3 hr. PR: (ARE 401 and ARE 402) or ECON 301 or Consent.
Economic analysis of agricultural, natural resource, and environmental
policies; problems of externalities and market failure, and alternative
policies for addressing such
problems; benefits and cost of alternative policies.
461. Agribusiness Finance. II. 3 hr. An overview of financial analysis and the application of
financial principles to small, rural, and agricultural businesses. Includes
applications of financial analysis computer software.
490. Teaching Practicum.
I, II, S. 1-3 hr. PR: Consent. Teaching practice as a tutor or assistant.
491. Professional Field Experience. I, II, S. 1-18 hr. PR: Consent. (May be repeated up to a
maximum of 18 hours.) Prearranged experiential learning program, to be planned,
supervised, and evaluated for credit by faculty and field supervisors. Involves
temporary placement with public
or private enterprise for professional competence development.
493. Special Topics. I,
II, S. 1-6 hr. PR: Consent. Investigation of topics not covered in regularly
scheduled courses.
494. Seminar. I, II, S.
1-3 hr. PR: Consent. Presentation and discussion of topics of mutual concern to
students and faculty.
495. Independent Study.
I, II, S. 1-6 hr. Faculty supervised study of topics not available through
regular course offerings.
496. Senior Thesis. I,
II, S. 1-3 hr. PR: Consent.
498. Honors. I, II, S.
1-3 hr. PR: Students in Honors Program and consent by the Honors director.
Independent reading, study, or research.
Graduate Courses:
500. Applied Microeconomics. I. 3 Hr. PR: ECON 301 and ECON 421, or equiv. Producer and consumer economics used in resource, environmental, and agricultural economic analysis.
521. Quantitative Methods in Resource Economics. I. 3 Hr. PR: ECON 421 or equivalent. Optimization techniques in economic analysis of natural resources; environmental and agricultural management problems; linear, nonlinear, and dynamic programming.
524. Econometric Methods in Resource Economics. I. 3 Hr. PR: ECON 425. Application methods to natural resource, environmental, and agricultural economic problems; single and simultaneous equation models, specification problems, topics in time series, and cross-sectional analysis.
530. Production Economics. II. 3 Hr. PR: ARE 500 and ARE 521. Developments in producer economics applied to natural resources, environmental, and agricultural issues.
540. Rural and Regional Development. II. 3 Hr. PR: ARE 300 and ARE 321. Economic theories and quantative techniques. Problems and goals for rural and regional planning; methods of policy analysis for community
infrastructure development.
541. Economics Metal Industries. 3 Hr.
542. International Agricultural Economic Development. I. 3 Hr. Current problems, theories, policies, and strategies in planning for agricultural and rural development for increased food production and to improve the well-being of rural people in the developing countries of the world.
543. Project Analysis and Evaluation. II. 3 Hr. PR: Consent. Design, analysis, and evaluation of development projects; economic and financial aspects of project analysis; risk analysis; preparation of feasibility reports.
546. Energy and
Regional Development. II. 3 Hr. PR: ARE 580. Energy in the
580. Energy Industry Economics. II. 3 Hr. PR: Graduate standing. Technical production and consumption methodologies, environmental concerns, and national and global economics and politics in making energy decisions.
581. Resource Appraisal and Decision Making. II. 3 Hr. PR: ARE 500 or equivalent. Investment analysis, decision making under risk and uncertainty, and project analysis applied to resource exploration and utilization; mineral and energy reserve and resource estimation techniques.
582. Mineral Industry Economics. II. 3 Hr. Supply, demand, structure, technology, costs, prices, and problems of mineral industries.
583. Mineral Technology Assessment. II. 3 Hr. PR: Consent. Methods of studying the effects of modifications in technology on the production of utilization of minerals, and the effects on mineral demand, supply, substitution, and markets.
584. Oil and Gas Industry Economics. II. 3 Hr. PR: Consent. Geology, engineering, and economic theories of evaluating industry structures and performance.
585. Economics of the Coal Industry. 3 Hr. Supply, demand, structure, production technology, costs, prices, and problems of the coal industry. Includes environmental, productivity, and transportation issues.
600. Research Methods. II. 1 Hr. Research methods in agricultural, environmental, and resource economics. The application of scientific thinking in developing research proposals and critiquing published research.
625. Advanced Special Topics. 1-6 Hr.
629. Resource Commodity Markets. II. 3 Hr. PR: ECON 725 and ECON 726 or Consent. Advanced econometric methods of specification, estimation, and simulation of domestic and international resource markets and industries; time series and forecasting techniques.
632. Natural Resource and Environmental Economics. II. 3 Hr. PR: ARE 500 and ARE 521 or equivalent. Theory and institutions; market failure, externalities and property rights issues; renewable and nonrenewable resources, common property, environmental and resource management, and intergenerational decisions.
633. Natural Resource Policy Analysis. I. 3 Hr. PR: ARE 500 and ARE 521, or equiv. Welfare economics applied to the analysis and evaluation of natural resources, environmental, agricultural, and energy policy issues.
644. International Markets and Trade. I. 3 Hr. PR: ARE 500 and ARE 521. Causes and consequences of international trade and investment; commodity market structures, commodity price instability and international agreements; trade barriers and protection, export promotion, and impacts on developing countries.
665. Mineral Finance. II. 3 Hr. Methods, risks, and problems of financing mineral projects. Large foreign project financing, concerns of host governments, multinational mining concerns, and financial institutions.
690. Teaching Practicum. I, II, S. 1-3 Hr. PR: Consent. Supervised practice in college teaching of agriculture research economics. Note: this course is intended to insure that graduate assistants are adequately prepared and supervised when they are given college teaching responsibility. It will also present a mechanism for students not on assistantships to gain teaching experience. (Grading will be S/U.)
691 A-Z. Advanced Topics. I, II, S. 1-6 Hr. PR: Consent. Investigation of advanced topics not covered in regularly scheduled courses.
692. Directed Study. I, II, S. 1-6 Hr. Directed study, reading, and/or research.
693 A-Z. Special Topics. I, II, S. 1-6 Hr. A study of contemporary topics selected from recent developments in the field.
694. Seminar. I, II, S. 1-6 Hr. Seminars arranged for advanced graduate students.
695. Independent Study. I, II, S. 1-6 Hr. Faculty supervised study of topics not available through regular course offerings.
696. Graduate Seminar. I, II, S. 1 Hr. PR: Consent. It is anticipated that each graduate student will present at least one seminar to the assembled faculty and graduate student body of his/her program.
697. Research. I, II, S. 1-15 Hr. PR: Consent. Research activities leading to thesis, problem report, research paper or equivalent scholarly project, or a dissertation. (Grading may be S/U.)
698. Thesis. I, II, S. 2-4 Hr. PR: Consent. Note: this is an optional course for programs that believe that this level of control and supervision is needed during the writing of their students’ reports, thesis, or dissertations. (Grading may be S/U.)
699. Graduate Colloquium. I, II, S. 1-6 Hr. PR: Consent. For graduate students not seeking coursework credit but who wish to meet residence requirements, use the University’s facilities, and participate in its academic and cultural programs. Note: graduate students not actively involved in coursework or research are entitled, through enrollment in his/her department’s graduate colloquium, to consult with graduate faculty, participate in both formal and informal academic activities sponsored by his/her program, and retain all of the rights and privileges of duly enrolled students. (Grading is S/U; colloquium credit may not be counted against credit requirements for master’s programs.)
703. Advanced Natural Resource Economic Theory. I. 3 Hr. PR: ECON 710 and ARE 632. Allocation and distribution of natural resources in static and dynamic contexts; welfare economics, cost-benefit analysis, and optimal control approaches; applications to resource valuation, exhaustion, taxation, and regulation in theory and practice.
710. Advanced Environmental Economics. II. 3 Hr. PR: ECON 701 and ARE 632 or Consent. Theory, efficient environmental design and analysis, modeling of economic and environmental systems, evaluation of non-market benefits and costs, and risk assessment.
735. Resources of Development Planning. 3 Hr.