| ARE 201 | Introduction to Agricultural & Resource Economics | UNITS: 3 - Offered in Fall and Spring |
| Introduction to economic principles of marginal benefits and costs with application to consumer and producer decisions. Functions of market exchange systems in determining prices and quantities and creation of wealth. Property rights and opportunities for exchange. Role of government in dealing with agricultural and resource problems. Macroeconomic analysis including inflation, unemployment, money and banking system. Credit will not be given for both EC 205 and either EC 201 or ARE 201. |
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| ARE 215 | Small Business Accounting | UNITS: 3 - Offered in Fall Only |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Record keeping for small businesses organized as sole proprietorships, partnerships, and family held corporations. Double entry accounting principals applied to service and merchandising businesses. General Journals, Combination Journals, Subsidiary Journals, Ledgers, Accounts Receivable, Accounts Payable, Posting, Worksheets. Financial Statements, Closing, Payrolls, Cost Basis, Depreciation, Section 179, Amortization, Financial Adjustments, and Income Tax Forms. Both manual and computerized systems. Semester project of keeping records for a business for a portion of the year. |
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| ARE (EC) 301 | Intermediate Microeconomics | UNITS: 3 |
| Prerequisite: MA 121 or 131; ARE 201 or EC 205 or EC 201 |
| Functioning of the market economy, role of prices in determining the allocation of resources, the functioning of the firm in the economy, forces governing the production and consumption of economic goods. Credit not allowed in more than one of EC 301, 310, 401. |
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| ARE 303 | Farm Management | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Analytical and planning techniques for making business decisions centered around farm business applications. Economic principles and management concepts such as budgeting, accounting, finance credit, investment analysis, business organization, risk,and taxes as related to practical problems of operating a farm business. |
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| ARE 304 | Agribusiness Management | UNITS: 3 - Offered in Spring Only |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Management decision-making by food, fiber, horticulture, and forestry firms. Emphasis on current agribusiness topics such as information utilization, strategic planning, organization structures, competitor intelligence, pricing, leadership, crisis management, ethics, and human resource management. Business communications, agribusiness case studies, and a computerized management simulation game. |
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| ARE 306 | Agricultural Law | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Legal principles of practical importance in an agricultural setting: the court system; tort, contract and real and personal property law; legal aspects of organizing an agribusiness; environmental and labor regulations affecting agriculture; income and estate taxation of agriculture. Credit for both ARE 306 and BUS 307 is not allowed |
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| ARE 309 | Environmental Law & Economic Policy | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Current federal and state environmental laws and regulations and their common law foundations. Relationship of the law and its regulatory mechanisms to economic policy issues: externalities, pollution taxes, incentives, permit trading, and cost-benefit analysis. Major environmental topics including water and wetlands, solid and hazardous wastes, pesticides, clean air, endangered species and nuisance actions. Overview of the legal system. |
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| ARE 311 | Agricultural Markets | UNITS: 3 - Offered in Fall Only |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Agricultural marketing system and economic forces affecting its structure and efficiency. Public policy issues affecting agricultural markets. Emphasis on the analysis of current sources of agricultural market information. Marketing and storage problems over time; futures markets and the management of risk; transportation and international trade; government agricultural programs. |
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| ARE 312 | Agribusiness Marketing | UNITS: 3 - Offered in Spring Only |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Application of marketing and economic principles to decision making in contemporary agribusiness firms. Marketing strategies, marketing research and information, segmentation and targeting, marketing mix, and market plans within food, fiber, natural resource, and production input industries. Professional selling skills and knowledge. Off-campus field experience and visiting lecturers from the agribusiness industry. |
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| ARE 321 | Agricultural Financial Management | UNITS: 3 - Offered in Fall Only |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Fundamental concepts for financial management decision in agricultural/farm businesses. Emphasis on financial statement analysis of profitability, efficiency, liquidity, repayment capacity, risk, leverage, growth. Capital budgeting, investment decisions, farmland bid price determination, farm real estate appraisal. Financial markets and credit institutions serving agriculture, lending policies, loan analysis, interest rate determination. Financial structure, performance, condition of farm sector. |
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| ARE 332 | Human Resource Management for Agribusiness | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| General introduction to human resource management in agribusinesses. Skills for agribusiness owners for efficient productivity from employees in a legal and ethical manner. Topics on labor economics, human resource legislation, employee planning andrecruitment, and migrant labor issues. Emphasis on techniques for training, motivating, leading, and disciplining employees. |
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| ARE (EC) 336 | Introduction to Resource and Environmental Economics | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Application of basic economic tools to understand and evaluate environmental/resource policies. Concepts such as property rights, non-market goods, allocation over time, externalities, and public goods. Current policy issues such as global climate change, evaluating natural resource damages from oil spills, reducing the costs of regulations, protecting estuaries, and dealing with non-point source pollution. |
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| ARE (EC) 401 | Economic Analysis for Nonmajors | UNITS: 3 - Offered in Fall and Spring |
| Prerequisite: ARE 201 or EC 205 or EC 201 |
| Intermediate economic theory of firm, household and market behavior. Demand, production and cost theory, market equilibrium under competitive and non-competitive conditions, and problems of economic efficiency. (EC (ARE) 401 is primarily for graduate students desiring an economics minor at the master's level. Students completing intermediate microeconomics and calculus should elect ECG 501, Price Theory, instead.). Not open to undergraduates majoring in the College of Management or Department of Agriculture and Resource Economics. Credit not allowed in more than one of EC 301, 310, 401. |
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| ARE 403 | Economics of Consumer Decisions | UNITS: 3 - Offered Alternate Years |
| Prerequisite: ARE 201 or EC 201 or EC 205 |
| Application of economic theory of the consumer to lifetime personal resource allocation decisions intended for non-major graduate students at the master's level. Emphasis on dynamic considerations in consumption and saving, replacement of consumer durables, and evaluation of consumer protection policies. Not open to undergraduates majoring in the Department of Agricultural and Resource Economics or the College of Management. Credit not allowed for both ARE 210 and ARE 403 |
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| ARE 404 | Advanced Agribusiness Management | UNITS: 3 |
| Prerequisite: (ARE 303 or ARE 304), ARE 321, and (ARE 311 or ARE 312) |
| An advanced course in business planning that integrates the risk and uncertainty associated with production, marketing, and financial management strategies of agribusiness firms. Focuses on the fundamental components required to develop a strategicbusiness plan and design a viable business strategy in the context of the firm's market and its internal environment. Special attention is given to the application of economic theory and analysis to business decision-making processes. 80% of enrollment is restricted to Agricultural & Resource Economics students with the remaining 20% open for all other majors. |
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| ARE 412 | Marketing Analysis and Plans for Agribusiness and Life Sciences | UNITS: 3 - Offered in Fall Only |
| Prerequisite: ARE 312 or BUS 360; and ST 311 or BUS/ST 350 |
| ARE 412 uses step-by-step marketing plan development for agribusiness, agricultural, and/or life sciences products. Student groups research, develop, and present a written market plan. The course focuses on collection and analysis of information pertaining to a product's environment, customers, and competitors. An integrative course, ARE 412 brings together concepts learned in marketing, finance, management, law and policy areas. |
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| ARE 423 | Futures and Options Markets | UNITS: 3 - Offered in Spring Only |
| Prerequisite: ARE(EC) 301 and ARE 311 or BUS 320 |
| Operation and business uses of futures and options markets. Emphasis on market institutions, arbitrage price relationships, risk analysis, hedging theory and practice, portfolio evaluation and market regulation. Similarities among commodity, bond and stock index futures emphasized. |
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| ARE 433 | U.S. Agricultural Policy | UNITS: 3 - Offered in Fall Only |
| Prerequisite: ARE(EC) 301 or ARE(EC) 401 |
| Government economic policies and programs affecting agricultural inputs and farm products. Analysis of the rationale, objectives, and major types of agricultural programs and their effects on resource allocation and income distribution within agriculture and between agriculture and the rest of the economy. |
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| ARE (EC) 436 | Environmental Economics | UNITS: 3 - Offered in Spring Only |
| Prerequisite: ARE(EC) 301 |
| Usefulness of economics in understanding pollution, congestion, conservation and other environmental problems. Relevant economic tools such as pricing schemes, abatement cost curves, damage functions and benefit-cost analysis. Pollution taxes, regulations, marketable permits and subsidies considered in designing alterations, in the incentive system. Current public policy alternatives in the context of non-market decision-making. |
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| ARE 490 | Career Seminar in Agriculture & Resource Economics | UNITS: 1 - Offered in Fall Only |
| Prerequisite: Sophomore standing |
| Planning and preparing for career choices. Resume writing, networking, interviewing, personality characteristics, and job searching. Visits with employer representatives. Employer expectations and career opportunities. Researching firms and employment opportunities. Oral and written presentations. |
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| ARE 492 | External Learning Experience | UNITS: 1-6 - No Course Evaluation, Offered in Fall and Spring |
| Prerequisite: Sophomore standing |
| A learning experience in agriculture and life sciences within an academic framework that utilizes facilities and resources which are external to the campus. Contact and arrangements with prospective employers must be initiated by student and approved by a faculty adviser, the prospective employer, the departmental teaching coordinator and the academic dean prior to the experience. |
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| ARE 493 | Special Problems/Research Exploration | UNITS: 1-6 - No Course Evaluation, Offered in Fall and Spring |
| Prerequisite: ARE Sophomore standing |
| A learning experience in agriculture and life sciences within an academic framework that utilizes campus facilities and resources. Contact and arrangements with prospective employers must be initiated by student and approved by a faculty adviser, the prospective employer, the departmental teaching coordinator and the academic dean prior to the experience. |
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| ARE 495 | Special Topics in Agricultural and Resource Economics | UNITS: 1-6 - No Course Evaluation |
| Presentation of material not normally available in regular course offerings or offering of new courses on a trial basis. |
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