The Department of Agribusiness Economics offers advanced and challenging courses that teach students to skillfully combine sound economic and management principles with agricultural production policy and technology. Students receive instruction in domestic aspects of the agricultural economy as well as international trade.
ABE 204-3 Introductory Economics of Food, Fiber, and Natural Resources. An introduction to the economics and policies underlying food and fiber production, distribution, and consumption as well as the use of environmental and natural resources. This course is a University Core Curriculum Social Science requirement in lieu of Economics 113.
ABE 257-1 to 10 Work Experience. Credit for on-campus work experience through a cooperative program developed between the department and the Office of Student Work and Financial Assistance. Prerequisite: consent of chair. Mandatory Pass/Fail.
ABE 258-1 to 30 Past Work Experience. Credit for career related employment based on the evaluation of the documentation of this experience by the Department of Agribusiness Economics. No grade for past work experience. Prerequisite: consent of chair.
ABE 302-2 Country Living Management and Information. Managing a small acreage as an avocation. Types of decision problems and sources of information.
ABE 318-3 Agribusiness Statistical Methods. Statistical methods applied to agribusiness economics, including survey design, sampling, graphic presentation of data, index numbers, statistical inference, basic linear regression and correlation.
ABE 330-3 Principles of Agribusiness Economics: Theory and Applications. The student will enhance their understanding of and ability to apply the principles of economics to the unique problems of the agricultural sector. The course covers the theory of resource allocation with a rural emphasis. The following topics are taken up in a case study framework: production of food and fiber, the agribusiness sector and markets, rural community development, and environmental and natural resource use and conservation. The roles of governmental policy, international trade organizations, and treaties are included throughout the course. Prerequisite: 204.
ABE 333-3 Professional Agri-selling. Focuses on professional Agri-selling and the sales process. Topics include different methods of selling, steps and techniques in the selling process, customer service, sales ethics, consumer behavior concepts and sales management. Critical skills of self-management, communication, and interpersonal values are examined. Opportunities of a career in Agri-selling are surveyed.
ABE 340-3 Domestic and International Food Policies. Examination of domestic and international policies that affect the production of food products. Topics will include a review of existing and former policies designed for American producers (e.g., commodity programs to support farm income, risk management and conservation of resources). Food safety policies will be examined. In addition, aspects of international trade including policies (NAFTA), practices, and institutions (WTO, World Bank, etc.,) as they relate to access to foreign markets will be reviewed. Prerequisite: 204 or consent of instructor.
ABE 350-3 Farm Management. Efficient organization and management of a farming operation. Emphasis on crop and livestock selection, management of farm resources, farm budgets and records analysis, and farm leases. Student will incur field trip expenses<1>. Prerequisite: 204 or one course in economics.
ABE 351-3 Financial Management in Agriculture. Analysis of the capital structure of agriculture and sources of capital. Credit analysis of agribusiness firms using financial statements, firm growth, capital budgeting, and tax considerations. Prerequisite: 204 or equivalent.
ABE 359-1 to 6 Intern Program. Supervised work experience program in either an agricultural agency of the government or agribusiness. Prerequisite: junior standing or consent of instructor. Mandatory Pass/Fail.
ABE 360-3 Agribusiness Management and Organization. Problems and practices in agribusiness operations including management practices, decision-making tools, financial analysis, economic considerations in managing land, labor and capital, and the impact of alternative organizational forms are emphasized. The focus is on applications to real world problems. Students are provided an opportunity to interact with business managers through a series of guest speakers. Prerequisite: 204 or equivalent.
ABE 361-3 Agribusiness Marketing Management. An overview of marketing practices and strategies employed by agribusiness product and service firms. Market research, market segmentation and product mix development are among the topics reviewed. Students participate in case analysis and marketing plan development projects. Prerequisite: 204 or equivalent.
ABE 362-3 Marketing and Pricing Agricultural Products. Institutional arrangements in marketing agricultural products. Market structure, marketing costs, and alternative methods of pricing agricultural products are also examined. Prerequisite: 204 or equivalent.
ABE 363-3 Commodity Price Risk Management. The focus is on the use of financial instruments, including futures and options, to manage price risk in modern agribusiness. Topics covered include: commodity futures and options, cash forward and other over-the-counter contracts, hedging, spreading, basis risk and basis trading. Applications and examples are provided for commodity producers, end-users, and the processors. The mechanics of futures trading and speculation are considered. Students are given the opportunity to observe and participate in futures market transactions.
ABE 381-1 to 4 Agricultural Seminar. Discussion of special topics and/or problems in the field of agribusiness economics. Prerequisite: junior standing and consent of department.
ABE 388-1 to 16 (1 to 8 per semester) International Studies. Course work undertaken as a part of an approved. University residential study program abroad. May be taken for a maximum of eight semester hours per semester and may be repeated for a maximum of 16 semester hours. Prerequisite: major department or program approval.
ABE 390-1 to 4 Special Studies in Agribusiness Economics. Assignments involving research and inpidual problems. Field trips. Prerequisite: consent of chair.
ABE 391-1 to 4 Honors in Agribusiness Economics. Completion of honors paper or comparable project under the supervision of one or more faculty members. Subject matter depends upon the needs and interests of the student. Prerequisite: junior, gpa 3.0 with a 3.25 in major; approval of staff member, department chair.
*ABE 401-3 Agricultural Law. Relations of common-law principles and statutory law to land tenure, farm tenancy, farm labor, farm management, taxation, and other problems involving agriculture. Prerequisite: junior standing or consent of instructor.
*ABE 402-1 to 6 Problems in Agribusiness Economics. Designed to improve the techniques of agribusiness economics workers through discussion, assignment, and special workshops on problems related to their field. Emphasis will be placed on new innovative and currently developed techniques for the field. Prerequisite: consent of chair.
ABE 405-3 Management of Ethanol Production Facilities. This course is offered in cooperation with the National Corn-to-Ethanol Laboratory and provides a comprehensive introduction to the management and operation of an ethanol facility as well as overview of today’s biofuels industry. Topics include: ethanol industry trends and bio-fuels future, corn-to-ethanol production processes, operations control and management, products and co-products, and environmental topics.
ABE 419-3 Agribusiness Economic Applications of Information Technology. Students will gain experience in applying information technology to a range of agribusiness-economic applications in the subject areas of record keeping, management, finance and marketing. Students will gain additional experience by integrating these applications in the development of a business plan. Not for graduate credit. Prerequisite: 350 or 351 or 360 and Agricultural Systems 318 or equivalent.
*ABE 440-3 Natural and Environmental Resource Economics and Policy. Students will study the application of socioeconomic principles to problems related to natural and environmental resources. The course covers the policy context within which policies related to natural and environmental resources are developed and implemented as well as the range of policy tools available for addressing environmental/natural resource problems. The institutional setting for dealing with natural and environmental resources is presented along with the role of property rights and entitlements. Contemporary resource problems are used as examples. Prerequisite: six hours of agribusiness economics, economics, or geography; graduate status; or consent of instructor.
*ABE 442-3 Energy Economics and Policy. Economics principles and methods are used to examine economic and policy issues relevant to energy production and use. Topics include: key aspects of energy supply, demand, markets, and regulation; environmental externalities of fuel production and use; the relationships among energy use, economic growth and the environment; alternative energy sources. Prerequisite: six hours of agribusiness or general economics, geography, or consent of instructor.
*ABE 444-3 Agricultural Development. Analysis of the economic, social, political, cultural, and institutional factors related to economic growth and development in agricultural sector. Framework for evaluating outcome of alternative strategies in agricultural production, marketing, and government policies that affect output, income distribution, and resource use in agriculture and the related agroindustrial complex. Prerequisite: 204.
*ABE 445-3 Methods of Regional Economic Analysis. [Same as ABE 545 Agribusiness Economics] Students are introduced to regional economic methods at an intermediate level. Students will learn concepts and tools commonly used in regional and community economic analysis. Students will learn to use regional input-output analysis and more technical regional economic models designed to capture spatial economic variables. Prerequisite: six hours of agribusiness or general economics, geography, or consent of instructor.
*ABE 450-3 Advanced Farm Management. Application of production economic principles and modern decision-making techniques to farm management problems. The importance of information, sources of agricultural risk and management of risk in farm planning will be integrated. Prerequisite: 350 or equivalent and General Education Mathematics requirement.
*ABE 451-3 Appraisal of Rural Property. Principles and practices of rural and farm appraisal. Applications of sales comparison, income capitalization and cost approaches for estimating market value. Consequences of environmental liabilities and regulations on appraisal practices. Understanding of special valuation methods for buildings, insurance, assessments, loans and condemnations. Field trips expense<1>. Prerequisite: 350 or consent of instructor.
*ABE 452-3 Advanced Agricultural Financial Management. Focus is on using the financial system recommended by the Farm Financial Standards Council as a base for evaluating the financial performance of farms and agribusinesses. Ratio analysis and DuPong modeling emphasized. Additional focus on credit markets serving farms and agribusinesses with an emphasis on the Farm Credit System and its affiliated Agricultural Credit Associations. Prerequisite: 351.
*ABE 453-3 Agribusiness Planning Techniques. Application of mathematical programming to agribusiness and farm planning, including enterprise selection, resource allocation, least cost ration formulation, decision making under risk and uncertainty, transportation and location problems. Emphasis placed on modeling problems and interpretation of results. Prerequisite: 350 or consent of instructor.
*ABE 460-3 Agricultural Price Analysis and Forecasting. The focus is on the measurement and interpretation of factors affecting agricultural prices. Methods to analyze the seasonal, cyclical, and trend components of commodity prices are presented. Formal forecasting techniques, including an introduction to statistical and regression methods, are used and explained. Emphasis is placed on the presentation, communication, and evaluation of forecasts in a business environment. Students are given an opportunity to perform applied analysis and present the results. Prerequisite: 318, 362 or equivalent.
*ABE 461-3 Agriculture Business Management. Examination of agribusiness firm management with emphasis on the management and control of financial resources and the interrelationship between the agribusiness firm and human resource management. Other topics in agribusiness will include effective communication in the management process, business ethics and workable credit programs for customers. Prerequisite: 351 and 360 or equivalent.
*ABE 462-3 Advanced Agricultural Marketing. Advanced treatment of marketing issues from both theoretical and practical decision-making perspectives. Marketing margins, intertemporal and spatial price relationships are reviewed in detail. Historical and current grain and livestock price series are utilized in decision-making exercises. Prerequisite: 362 or equivalent.
*ABE 463-3 Managerial Strategies for Agribusiness. Application of Industrial Organization and Strategic Management (Competitive Strategy) principles to address economic and managerial issues related to agriculture and food industries. Particular emphasis on applying those principles to explain structural changes taking place in the agriculture and food supply chain in the United States. Prerequisite: 204, 350 or 360, Economics 240.
*ABE 470-3 Interdisciplinary Approaches to Environmental Issues. Application of concepts from the biological, physical and social sciences, economics, humanities and law, used to understand the interdisciplinary complexities of environmental issues. Students will develop and demonstrate problem-solving skills as part of a team analyzing a regional environmental issue. Team-taught seminar style discussions. Not for graduate credit. Prerequisite: Plant Biology 301i and admission to Environmental Studies minor program.
*ABE 471-3 Resource Allocation in the Agribusiness Firm. An examination of resource allocation in the agribusiness firm. Production decisions, agricultural product price analysis, and decision making models are considered. Prerequisite: six hours of agricultural economics, six hours of economics, or instructor's approval.
*ABE 472-3 Problems and Policies of the Agricultural Sector. An analytical survey of agricultural policy issues including: agricultural price and income stabilization, international trade, capital and credit, the structure of agriculture, and the quality of life in rural areas. Prerequisite: six hours of agricultural economics, six hours of economics, or instructor's approval.
- Note: Fees are associated with many courses. Consult current Undergraduate Course Catalog for exact amounts.
- Note: (*) 400-level classes that can be taken for either graduate or undergraduate credit
- Note: Some courses may only be offered in the fall or spring semester. Please check with your academic advisor before planning your schedule.
ABE 500-6 (3,3) Agribusiness Economics Research Methodology. (a) Social science research methodology in agriculture, including defining research problems, hypothesis formation, specification of research design, survey methodology, source of data and development of research proposals. (b) A survey of applied techniques and procedures for developing and evaluating agricultural economic research models with an emphasis on multiple regression and time-series models. Prerequisite: Educational Psychology 506 or equivalent.
ABE 544-3 Agricultural Development. Students are introduced to economic growth and development theory at an intermediate level. Topics include trends in development in North America and study of theories. The economic theories covered address how growth occurs in developed economies including classical and neoclassical, entral place and endogenous growth theories among others. Prerequisite: six hours of agribusiness or general economics, geography, or consent of instructor. Same as ABE 444.
ABE 545-3 Methods of Regional Economic Analysis. Students are introduced to regional economic methods at an intermediate level. Students will learn concepts and tools commonly used in regional and community economic analysis. Students will learn to use regional input-output analysis and more technical regional economic models designed to capture spatial economic variables. Prerequisite: six hours of agribusiness or general economics, geography, or consent of instructor. Same as ABE 445.
ABE 551-3 Resource Allocation in the Agribusiness Firm. An examination of resource allocation in the agribusiness firm. Production decisions, agricultural product price analysis and decision making models are considered. Prerequisite: six hours of agricultural economics or economics or consent of instructor.
ABE 552-3 Problems and Policies of the Agricultural Sector. An analytical survey of agricultural policy issues including agricultural price and income stabilization; international trade, capital and credit, the structure of agriculture and the quality of life in rural areas. Prerequisite: six hours of agricultural economics or economics or consent of instructor.
ABE 581-1 to 4 Seminar in Agribusiness Economics. Seminar on current research and issues in agribusiness economics on topics such as farm management, farm policy, agricultural marketing, farm finance, agricultural prices and international agriculture.
ABE 585-1 to 6 Practicum/Internship. Supervised work experience at the graduate level with a public or private agency or firm through which a graduate student can acquire practical professional training to complement their academic course work and research.
ABE 588-1 to 8 International Graduate Studies. University residential graduate study program abroad. Prior approval by the department is required both for the nature of program and the number of semester hours of credit.
ABE 590-1 to 4 Readings. Readings in specialized topics under the direction of an approved graduate faculty member. Graded S/U only.
ABE 593-1 to 4 Inpidual Research. Directed research in selected topics under the supervision of an approved graduate faculty member. Graded S/U only.
ABE 599-1 to 6 Thesis. Work in the research for and presentation of a thesis under the supervision of an approved faculty member. Graded S/U only.
ABE 601-1 (per semester) Continuing Enrollment. For those graduate students who have not finished their degree programs and who are in the process of working on their dissertation, thesis, or research paper. The student must have completed a minimum of 24 hours of dissertation research, or the minimum thesis, or research hours before being eligible to register for this course. Concurrent enrollment in any other course is not permitted. Graded S/U or DEF only.
AGRI 300I-3 Social Perspectives on Environmental Issues [Same as Liberal Arts 300i/University Core Curriculum]. Case studies (e.g. rural village in developing nation; small town in the U.S.; city in developing nation) are used to learn how different societies and groups deal with their specific environmental issues, and how culture and economic factors affect their perspectives and actions.
ERP 502-3 Environmental Decision-Making. Analytical concepts relevant for environmental professional will be taught and demonstrated through case studies. Topics to be covered include risk assessment and risk management formulation of environmental impact statements, cost effectiveness and cost benefit analysis, and methods of conflict resolution. The role of economic incentives in encouraging conservation, the role of multiple institutional players in environmental decision-making at various geographic scales (local, state, international, global), and the use of the internet as a source of environmental information will be emphasized.
- Note: Fees are associated with many courses. Consult current Graduate Course Catalog for exact amounts.
- Note: Some courses may only be offered in the fall or spring semester. Please check with your academic advisor before planning your schedule.