AGR 1503 Agricultural Economics
Introductory course on the basic principles of agricultural economics. Principles of supply and demand, resource economics, production optimization, price elasticity, market price determination, competitive versus noncompetitive market models, and agricultural public policy. These principles are applied to agriculture and the role of agriculture in the United States and world economies.
Division: Business and Public Services
Department: Agriculture
Repeatable Credit: No
Offered Online: No
Prereqs: NONE
Outcomes
- Demonstrate understanding of the nature and structure of the agriculture industry in the U.S.
- Demonstrate understanding of the macroeconomic concepts of fiscal and monetary policies and financial intermediation and their impact on agriculture markets.
- Apply the principles of market structures, optimization, supply, demand, and equilibrium to appropriately explain consumer-level prices of agricultural products.
Credit Hours: 3
Classroom Hours: 3