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Agribusiness Economics
Minor in Agribusiness Economics:
The minor in Agribusiness Economics trains students in methods and applications of economic analysis in the business decision-making process. Students learn about the economics of pricing, production, commodity futures and options and food markets. Students will address questions such as: How can agribusiness companies use markets in agricultural futures and options to manage their risk? When should an agribusiness company buy raw products by means of farm contracts, rather than on the open market? How can we decide whether products are complements or substitutes in production? How do producers choose the inputs they use in production if their goal is to maximize profits? This minor is open to students of all majors, with the usual stipulation that no more than six credits can be used to meet requirements of a major and of a minor.
The courses below are required for this minor.
AREC 250 Elements of Agricultural and Resource Economics
Prerequisites: none
Credits: 3
AREC 404 Applied Price Analysis
Prerequisites: ECON 306, which has prerequisites: ECON 200, 201, MATH 220
Credits: 3
AREC 405 Economics of Production
Prerequisites: ECON 306, which has prerequisites: ECON 200, 201, MATH 220
Credits: 3
AREC 425 Economics of the Food Sector
Prerequisites: ECON 306, which has prerequisites: ECON 200, 201, MATH 220
Credits: 3
AREC 435 Commodity Futures and Options
Prerequisites: ECON 306, which has prerequisites: ECON 200, 201, MATH 220
Credits: 3
Total Credits: 15
Another AREC course can be substituted for one of the courses listed with permission of the AREC Undergraduate Coordinator.
Declaring the minor:
To ensure appropriate academic advising, students who wish to pursue this minor should inform both the college responsible for their major and the Department of Agricultural and Resource Economics as early as possible, but in no case later than one full academic year before the expected date of graduation. When a student has completed all requirements for the Minor, the Department shall notify the student's college, which verifies that the student has met all requirements and officially notifies the Registrar's Office. The completion of the Minor is posted on the student's official transcript only when the student completes all requirements for the bachelor's degree.
In order to enroll in the minor, you must schedule an appointment. Please use the link below.
Make an appointment onlineIf you have questions about the minor, please send an email to Adaire Parker, aparker@arec.umd.edu.
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Last updated: 05/1/2012