| | Economics is the study of how people coordinate their wants and desires, given scarce resources and the decision-making mechanisms, social customs and political realities of their societies. Decisions made by consumers, farmers, agricultural businesses, investors and the government interact to determine the allocation of scarce resources. Economics is a way of thinking about the world based on a set of principles that are useful for understanding almost any economic situation, from decisions that individuals make to the workings of highly complex international financial markets. The basics of supply, demand, price determination, world trade, public policy, and the economics of food safety will all be covered in this course. These concepts will be taught using hands-on learning activities, market simulations, and interactive group scenarios. Agricultural Economics studies how people, businesses, and governments choose to use resources including those related to the agricultural industry. The course encompasses similarities and differences among people, including their beliefs, knowledge, cultures, values, and traditions. | 2011- present | | | Studies the theory of production economics with emphasis on applications to agriculture and natural resources. Topics include the derivation, estimation and use of production, cost, profit, revenue, demand and supply functions. Discusses the concepts of efficiency and productivity. Production response over time and under risk. Agricultural production economic theory under static and dynamic situations. Analysis of allocation of factors of production, production efficiency, demand for factors of production and supply of agricultural products, costs of products and farm growth. | 2011- present | | | Descriptive statistics, data presentation, measures of central tendency, measures of dispersion, theory of probability, probability distributions, sampling distributions, estimation, testing hypotheses; t-test, analysis of variance, and 2 test, correlation and simple regression. | 2013 | | | The course is designed to give the student selected perspectives in applying and
integrating basic management skills and principles in agribusiness problem-solving and
decision-making. A workable approach to management, built around the management
functions of planning, organizing, controlling, and directing is the focus. The application
of basic skills in economic analysis, marketing, communication, finance, facility
operations, and personnel in the management process is illustrated and examined. The
specific objective is to help students effectively apply and integrate learned skills and
principles into the management process.
| 2011- present | | | This course aims at developing an understanding of the basic ideas of risk in agriculture and in agribusiness, conventional risk theories and their applications in the agricultural production and farm management, concepts of risk and uncertainty, trade-off between risk and income, subjective and objective measures of risk, decision matrix and decision trees, strategies to manage or reduce risk, game theory and Bayesian analysis, attitudes towards risk and utility functions, risk in agricultural and agribusiness project analysis, risk in programming and case studies. | 2012-present | | | Students are trained to collect information through literature review on specific topics relating to agricultural economics and agribusiness management. Considerations are given to research design, procedures, and presentation of results. Formal presentations of student research are made and discussion by all students. | 2013-present | | | The course is designed to give the student selected perspectives in applying and
integrating basic management skills and principles in agribusiness problem-solving and
decision-making. A workable approach to management, built around the management
functions of planning, organizing, controlling, and directing is the focus. The application
of basic skills in economic analysis, marketing, communication, finance, facility
operations, and personnel in the management process is illustrated and examined. The
specific objective is to help students effectively apply and integrate learned skills and
principles into the management process.
| 2013 |
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