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Agricultural and Resource Economics (AREC)
College of Tropical Agriculture and Human Resources
AREC 210 Applied Calculus for Management, Life
Sciences, and Human Resources (3) Applications of
mathematics/quantitative methods to agribusiness, life sciences, human
resources: equations, graphs, limits, continuity, derivatives, partials,
integrals. Pre: two years of high school algebra and one year of
geometry, or equivalents. M/L
AREC 220 Agricultural and Resource Economics (3) Introduction
to economics of agricultural production, marketing, prices, income,
policy. Includes government policy and programs related to agriculture,
land use, farm tenancy, socio-economic problems of farmers in the United
States and the world. SS
AREC 310 Statistics in Agriculture and Human
Resources (3) (2 Lec, 1 3-hr Lab) Principles/applications of
statistical methods. Descriptive and inferential statistics, analysis of
variance, regression, non-parametric statistics. M/L
AREC 322 Marketing Agricultural Products (3) Problems,
agencies, functions, costs, prices, regulations affecting marketing;
proposed improvements. Pre: introductory course in economics or consent.
(Alt. years) AREC 341 Agricultural Accounting and Financial Analysis
(3) Principles and methods of agricultural accounting. Preparing and
interpreting financial statements. Sources and costs of credit, capital
budgeting, tax management, estate planning. Pre: 220, ECON 130, or
consent. (Alt. years)
AREC 342 Agribusiness Decision-Making (3) Management
and organization, production analysis concerning inputs/outputs,
planning/ budgeting for economic decision-making, acquiring and managing
factors of production. Pre: 220, ECON 130, or consent.
AREC 399 Directed Study (V) Limited to
exceptional undergraduate students qualified to carry on advanced study.
Pre: consent.
AREC 410 Operations Research for Agricultural
Management (3) Techniques of operations research in agricultural
decisionmaking. Classical optimization, linear/non-linear programming,
inventory control, queuing, stochastic processes, simulation, decision
analysis, and game theory. Pre: 210 and 310, or consent.
AREC 429 Computer Applications in Economic Research
(3) Introduction to use of computers for economic and agricultural
analysis. Employment of BASIC, electronic spreadsheets, software
packages for statistics, regression, and linear programming. Pre: 220 or
ECON 130, and 310 or ECON 321; or consent. (Cross-listed as ECON 429)
AREC 432 Natural Resource Economics (3) Introduction
to the economic theory of optimal management of natural resources and
the environment. Property rights, externalities and welfare economics,
non-renewable and renewable resource management and regulation,
pollution control in theory and practice. Pre: ECON 301 or consent.
AREC 454 Economics of Aquaculture (3) Management
of aquaculture business: production, financing, marketing. Industrial
development: potentials, constraints, government policies. Pre: 220 or
ECON 130.
AREC 456 Marine Resource Economics (3) Major
problems and economic issues facing countries in Asia and the Pacific in
effectively managing marine resources. Repeatable once. Pre: 220, ECON
130, or consent. (Cross-listed as ECON 491)
AREC 458 Project Evaluation and Resource Management
(3) Fundamentals of benefit-cost analysis with extensions to
environmental impacts and projects; case studies. Pre: ECON 301 or
consent. (Cross-listed as ECON 458)
AREC 492 Internship (4) Integration and
application of academic knowledge and critical skills emphasizing
professional development. Placement with an approved cooperating
supervisor/employer. Pre: consent.
AREC 500 Master’s Plan B/C Studies (1) Enrollment
for degree completion. Pre: master’s Plan B or C candidate and
consent.
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. A-F only. Pre:
MATH 206 or consent. (Cross-listed as BE 638)
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 Quantitative Methods in Agricultural
Economics I (3) Elementary statistics and probability theory, two
variable and multiple variable regression modeling, hypothesis testing
and confidence intervals, multicollinearity, serial correlation, and
heteroskedasticity. Pre: 310 or ECON 321, and MATH 205; or consent.
(Cross-listed as ECON 628)
AREC 627 Price Theory and Application (3) This
course emphasizes both the theoretical and applied aspects of price
analysis. Empirical demand and supply models are evaluated and
estimation techniques discussed. Pre: 626 and ECON 627, or consent.
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 630 Advanced Agricultural Market Analysis (3) Industrial
organization--market analysis encompassing several approaches, such as
structure, conduct and performance, contestable markets, and
transactions costs. Emphasis on efficiency, productivity, vertical
coordination, and equity. Application will focus on the food system,
including important marketing institutions and research issues. 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 Quantitative Methods in Agricultural
Economics 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 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 637 Resource Economics (3) Analysis of
problems of development and management of natural resources with
emphasis on resources in agriculture and role in economic development.
Pre: 432, 634, and ECON 608; or consent. (Cross-listed as ECON 637)
AREC 638 Resource and Environmental Policy (3) Exploration
of institutional and policy dimensions of natural resource development,
management, allocation, markets and pricing, focusing on their
environmental impacts. Emphasis on policy analysis using case studies
and empirical findings. Original paper required. A-F only. Pre: 637 or
consent. (Alt. years)
AREC 670 Agrarian Systems Analysis (3) Comparative analysis of philosophy and process of
interdisciplinary and participatory approaches to sustainable
development and rural resource management including farming systems
research and extension (FSR&E), agroecosystem analysis (AEA),
participatory action research (PAR), and rapid rural appraisal (RRA).
Repeatable. Pre: consent. (Cross-listed as AGRS 670)
AREC 694 Economics of Marine Resources (3)
AREC 699 Directed Research (V) Pre: consent.
AREC 700 Thesis Research (V)
AREC 701 (Alpha) Seminar in Agriculture and
Resource Economics (3) Topics: (G) general; (I) international trade
development and policy; (M) marketing economics; (Q) quantitative
methods; (P) production and systems analysis; (R) resource economics.
Pre: consent.
AREC 705 Research Seminar (1) Presentation and
discussion of student thesis, dissertation, other current research
activities. Required for all graduate students. Repeatable. CR/NC only.
Pre: consent.
AREC 800 Dissertation Research (V)
For key to symbols and abbreviations, see the first
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