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Courses - Fall 2017
AREC
Agricultural and Resource Economics Department Site
AREC200
The Chesapeake Bay Ecosystem: Intersection of Science, Economics, and Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: LS
GenEd: DSNS or DSSP, SCIS
The Chesapeake Bay is one of the most studied and monitored ecosystems in the world. To develop effective policies to restore this system to a healthier status requires integrating what we know about the biological and physical properties of the system with our understanding of the human dimension. Issues such as achieving nutrient reduction goals, restoring healthy blue crab and oyster fisheries in the bay will be used to demonstrate how economics interacts with science to guide policies that can be effective in achieving Bay restoration goals.
AREC240
Introduction to Economics and the Environment
Credits: 4
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Credit only granted for: ECON200, AREC240, or AREC250.
Costs and social impacts of pollution and human crowding in the modern environment. The economic, legal and institutional causes of these problems. Public policy approaches to solutions and the costs and benefits of alternative solutions.
AREC250
Elements of Agricultural and Resource Economics
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Credit only granted for: ECON200, AREC240 or AREC250.
An introduction to economic principles of production, marketing, agricultural prices and incomes, farm labor, credit, agricultural policies, and government programs.
AREC306
Farm Management and Sustainable Food Production
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSSP
The organization and operation of farm businesses are explored through principles of management, financial analysis, production economics, marketing, and business planning. These farm management principles are presented in the context of a sustainable food production system.
AREC326
Intermediate Applied Microeconomics
Credits: 3
Grad Meth: Reg
Prerequisite: ECON200 or AREC250; and ECON201. And MATH120, MATH140, or MATH130; or must have completed MATH220.
Restriction: Must be in one of the following programs (Agricultural and Resource Economics; Agricultural and Resource Economics: Agribusiness).
Credit only granted for: ECON306, ECON326, AREC489M, or AREC326.
Formerly: AREC489M.
Deepens and broadens your ability to apply rigorous economic analysis skills to a broad range of problems.
AREC365
World Hunger, Population, and Food Supplies
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: D
GenEd: DVUP
An introduction to the problem of world hunger and possible solutions to it. World demand, supply, and distribution of food. Alternatives for leveling off world food demand, increasing the supply of food, and improving its distribution. Environmental limitations to increasing world food production.
AREC386
(Perm Req)
Experiential Learning
Credits: 3 - 6
Grad Meth: Reg, P-F
Prerequisite: Permission of AGNR-Agricultural & Resource Economics department.
Restriction: Junior standing or higher.
Contact department for information to register for this course.
AREC388
(Perm Req)
Honors Thesis Research
Credits: 3 - 6
Grad Meth: Reg
Contact department for information to register for this course.
AREC399
Special Problems
Credits: 1 - 3
Grad Meth: Reg, P-F, Aud
Contact department for information to register for this course.
AREC430
Introduction to Agricultural and Resource Law
Credits: 3
Grad Meth: Reg
Prerequisite: ECON326, ECON306, or AREC326.
Restriction: Must be in a major within the AGNR-Agricultural & Resource Economics department.
Credit only granted for: AREC430 or AREC489K.
Formerly: AREC489K.
Survey of law with emphasis on problems and applications related to agricultural and natural resource economics. The course emphasizes strategies for managing legal risk arising from ownership, management, and use of agricultural resources. Students will get practical information to utilize in personal or professional settings. Contract law, constitutional law, tort law, property law, real estate transactions, business organization, estate planning, and debtor.
AREC433
Food and Agricultural Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON326 or ECON306; or students who have taken courses with comparable content may contact the department.
Economic and political context of governmental involvement in the farm and food sector. Historical programs and current policy issues. Analysis of economic effects of agricultural programs, their benefits and costs, and comparison of policy alternatives. Analyzes the interrelationship among international development, agricultural trade and general economic and domestic agricultural policies.
AREC453
Natural Resources and Public Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON326 or ECON306; or students who have taken courses with comparable content may contact the department.
Rational use and reuse of natural resources. Theory, methodology, and policies concerned with the allocation of natural resources among alternative uses. Optimum state of conservation, market failure, safe minimum standard, and cost-benefit analysis.
AREC455
Economics of Land Use
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON326 or ECON306; or students who have taken courses with comparable content may contact the department.
Fundamentals of location theory. Microeconomics of land use decisions, including determination of rent and hedonic pricing models. Impacts of government decisions on land use, including regulation (e.g., zoning), incentives (transferable development rights), provision of public services, and infrastructure investments. Impacts of land use on environmental quality, including issues relating to sprawl, agricultural land preservation, and other topics of special interest.
AREC489O
Special Topics in Agricultural and Resources Economics; Economic Perspectives of Consumption and Food Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
AREC489R
(Perm Req)
Special Topics in Agricultural and Resources Economics; Economics of Local Agriculture: Incubating the Next Generation of Family Farmers
Credits: 3
Grad Meth: Reg, P-F, Aud
AREC620
Optimization in Agricultural and Resource Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Must have completed Multivariate calculus and matrix or linear algebra.
Mathematical theory of static and dynamic optimization as applied to the economics of agriculture, natural resources and the environment. Topics include necessary and sufficient conditions for constrained optimization, convexity and concavity, duality and the envelope theorem, comparative statics, fixed point theorems, optimal control theory and dynamic programming.
AREC623
Applied Econometrics I
Credits: 4
Grad Meth: Reg, Aud
Prerequisite: Differential and integral calculus and linear algebra; or permission of instructor.
Fundamentals of mathematical statistics for applications in econometrics. Development of the standard linear model and variations of assumptions with computer applications to applied econometric problems.
AREC632
Agricultural Policy Analysis
Credits: 3
Grad Meth: Reg, Aud
Also offered as: AREC832.
Credit only granted for: AREC632 or AREC832.
The economics of agricultural policies. Methods for analyzing costs and benefits of price supports, import restraints, and other policies for producers, consumers, and taxpayers. Farm programs of the U.S., other industrial countries and developing countries including interventions in both domestic markets and international trade are covered along with their consequences for factor owners and related commodity markets. Theories of the farm problem and possible remedies are offered.
AREC699
(Perm Req)
Special Problems in Agricultural and Resource Economics
Credits: 1 - 2
Grad Meth: Reg, Aud
Contact department for information to register for this course.
AREC785
Advanced Economics of Natural Resources
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Permission of AGNR-Agricultural & Resource Economics department; or (ECON603 and AREC623).
Also offered as: ECON785.
Credit only granted for: AREC785 or ECON785.
The use of exhaustible and renewable natural resources from normative and positive points of view. Analysis of dynamic resource problems emphasizing energy, mineral, groundwater, forestry, and fishery resources; optimal, equilibrium, and intergenerational models of resource allocation.
AREC799
(Perm Req)
Master's Thesis Research
Credits: 1 - 6
Grad Meth: Reg
Contact department for information to register for this course.
AREC832
Advanced Agricultural Policy Analysis
Credits: 3
Grad Meth: Reg, Aud
Also offered as: AREC632.
Credit only granted for: AREC632 or AREC832.
Research problems in agricultural policy that include models and methods for explaining the consequences and causes of intervention in agricultural commodity markets. Quantitative, market level analysis of the implications of uncertainty, strategic behavior in international trade, second-best policies, the general equilibrium analysis of intervention, and the political economy of collective action in farm policy.
AREC846
Development Microeconomics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: AREC624, ECON603, and AREC623; or equivalent.
Formerly: AREC869E.
Development economics with focus on issues applicable to rural development and agriculture in developing countries. Content includes both theory and empirical application of theory. Subjects covered include economics of agricultural households, credit and insurance markets, technological progress and learning and institutional economics of developing countries.
AREC892
(Perm Req)
Dissertation Prospectus Development
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Completion of two years of the AREC Ph.D. program.
Credit only granted for: AREC 869P or AREC 892.
Formerly: AREC869P.
Presentations of proposed dissertation research including literature review, model development, data identification, and written prospectus development. Required of all third-year Ph.D. students.
AREC898
(Perm Req)
Pre-Candidacy Research
Credits: 1 - 8
Grad Meth: Reg
Contact department for information to register for this course.
AREC899
(Perm Req)
Doctoral Dissertation Research
Credits: 6
Grad Meth: Reg
Contact department for information to register for this course.