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 minor requires 15 credits. Please choose five courses from the list below.
At least nine credits must be at the 300-400 level.
**Please note all 400 level AREC courses have the following prerequisite: AREC 326, which has preq: ECON 200 or AREC 250 ; and ECON 201 ; and (MATH 220, MATH 140, or MATH 130).
AREC 240 Introduction to Economics and the Environment OR AREC 250 Elements of Agricultural and Resource Economics
AREC 306 Farm Management and Sustainable Food Production
AREC 404 Applied Price Analysis
AREC 405 Economics of Production
AREC 425 Economics of the Food Sector
AREC 427 Economics of Commodity Marketing Systems
AREC 433 Food and Agricultural Policy
AREC 435 Commodity Futures and Options
AREC 422 (formerly: AREC 489F) Special Topics in Agricultural and Resources Economics; Econometric Applications in Agricultural, Environmental and Natural Resources
Another AREC course can be substituted for one of the courses listed with permission of the AREC Undergraduate Coordinator. Every request is not guaranteed.
**Please note that AREC courses are offered during fall or spring semester only.
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:
1. Review and complete the Interest form-Agribusiness Economics minor
2. Schedule an advising appointment with the Assistant Director: https://arec.youcanbook.me/