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Agricultural and Resource Economics (AREC)

College of Tropical Agriculture and Human Resources, see also Natural Resources and Environmental Management (NREM).

AREC 210 Applied Calculus for Management, Life Sciences, and Human Resources (3) Applications of calculus (limits, continuity, derivatives, exponential and logarithmic functions, partials, integrals) to problems in business management, social sciences, and life sciences. The course applies symbolic techniques and quantitative methods in problem solving, utilizes concept of proof as a chain of inferences, and promotes development of reasoning skills and mathematical logic in bridging theory and practice. (Cross-listed as NREM 203) FS

AREC 610 Biosystems Modeling (3) Introduction to system thinking, procedures for developing system models, characteristics of important agricultural system modes, computer approach to evaluation and optimization of system models. Pre: one of MATH 215, MATH 241, MATH 251A or consent. (Cross-listed as BE 638 and GEOG 636)

AREC 624 Research Methodology (3) Philosophical setting for scientific inquiry, scientific method and its antecedents, application in agricultural economics research. Original research project required. Pre: 634 and ECON 608, or consent.
AREC 626 Econometrics I (3) Review of probability, estimation, small sample and asymptotic properties. Bivariate and multiple regression and matrix algebra formulation. Regression diagnostics. Introduction to heteroskedastidity, autocorrelation, simultaneity, dichotomous variables, advanced topics. Pre: NREM 310 or ECON 321, and MATH 241; or consent. (Cross-listed as ECON 628)

AREC 627 Applied Microeconomic Analysis (3) Economic applications to the agricultural and nonagricultural industries are emphasized. Econometric techniques are used to estimate demand, supply, production and cost functions which are analyzed in terms of economic theory and market information. A-F only. Pre: 626 and ECON 627; or consent. (Cross-listed as NREM 627)

AREC 628 Applied Production Economics (3) The theoretical foundation of production economics and the theory of the firm are developed. Econometric techniques are used to estimate and explain production and cost functions. Pre: 626 and ECON 627, or consent.

AREC 629 Advanced Production Economics (3) Economics of resource allocation at consumer, firm, and industry levels. Advanced analytical techniques of analysis: programming, synthesis, statistical analysis. Pre: 634 and ECON 608, or consent.

AREC 631 International Trade in Agricultural Products (3) Nature of trade in agricultural products; agricultural trade policy issues; role of trade in economic development; multilateral policies, commodity markets, and other current issues in agricultural trade. Pre: 634 and ECON 608, or consent.

AREC 634 Econometrics II (3) Specification, statistical estimation, inference, and forecasting of economic models. Includes advanced topics for single-equation models, pooled models, qualitative dependent variables, simultaneous systems, distributed lags, and time series. Pre: 626, ECON 628 or consent. (Cross-listed as ECON 629)

AREC 636 Advanced Agricultural Policy Analysis (3) Agricultural policy objectives, tools, issues. Analytical framework, approaches, and techniques, with empirical application to developed and developing country policies. Pre: 634 and ECON 608, or consent.

AREC 694 Economics of Marine Resources (3)

AREC 700 Thesis Research (V)

AREC 800 Dissertation Research (V)