Goals:
1. Students should be able to communicate effectively, both written and orally, economic concepts, business decision-making, and agricultural and natural resource concepts.

These concepts include but are not limited to the following:
• Understanding the drivers to changes and trends in the general economy
• Economic decision-making
• Economic and business planning
     o Time value of money
     o Basic understanding of accounting and finance tools
     o Strategic planning
• Basic statistics
• Benefit cost analysis
• Market analysis
• Enterprise management and production analysis
• Decision-making under uncertainty
• Understanding of international trade, environmental issues
• Introductory foundations in biological and physical sciences as they pertain to agricultural and natural resources

2. Students should have the skills to fit into a business, agency, or academic environment and use economic concepts to quantify and analyze issues related to their employer’s issues.

This includes:
• Competence in professional/technical writing and word processing
• Ability to use spreadsheets and statistical computer programs
• Competence in applying analytical tools relevant to economic analysis

3. Student should be familiar with issues related to the agricultural sector, natural resource policies, and rural community development.

Their focus should include three out of the five following areas:
• Agricultural markets, inputs and products
• Agricultural and natural resource-based firm production management
• Understanding of issues and changes facing agriculture in the region, nationally, and internationally
• Basic legal concepts related to business and agriculture
• Natural resource policy economics
• Community Development
 

II. Graduate Program: Master of Science
A student with a Master of Science in Agricultural Economics should be able frame an economic issue, analyze the issue and communicate to professionals in a peer reviewed or professional report format (academic or professional). Students understand how to use sophisticated economic concepts and methods at a professional or continuing academic level. This would include the following:

Goals:
1. Students should be able to communicate effectively, both written and orally, advanced economic concepts and apply those to agricultural and natural resource issues and apply those in a professional or academic environment.

These concepts include but are not limited to the following:
• In-depth understanding of the drivers to changes and trends in the general economy of the nation and the region
• Economic decision-making
• Econometric and statistical modeling
• Benefit cost analysis
• Advanced market analysis
• Consumer behavior
• Public goods and environmental economics
• International trade

2. Students should have the skills to succeed in a business, agency, or academic environment and use economic concepts to quantify and analyze issues as directed by their employer.

These skills include but are not limited to:
• Competence in professional/technical report writing and educational publication writing
• Understanding the scientific method as it pertains to economics and how economic analysis fits into interdisciplinary and multi-disciplinary projects.
• Ability to use spreadsheets; statistical computer programs such as SAS, STATA or LIMDEP; and mathematical programs such as GAMS.
• Competence and familiarity in independently applying or supervising the application of analytical tools relevant to economic analysis

3. Student should be familiar with issues related to the agricultural sector, natural resource policies, and rural communities.

Their focus should include two of five following areas:
• Agricultural markets, inputs and products
• Agricultural and natural resource-based firm production management
• Understanding of issues and changes facing agriculture in the region, nationally, and internationally
• International agricultural trade
• Energy development and management economics
• Natural resource policy economics including land use planning economics and wildlife economics
• Community structure and development

March 2007