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AEC Courses, Corvallis Campus

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Top AEC 121 DISCOVERING AGRICULTURAL AND RESOURCE ECONOMICS (2) 
Explore issues, opportunities, and challenges in the dynamic and diverse employment field of agricultural and resource economics. Case studies and field trips.

Top AEC 199 SPECIAL TOPICS (1-4) 
Targeted courses that focus on specific topics in agricultural and resource economics. Topics may vary from term to term and from year to year. May be repeated for credit when topics differ. This course is repeatable for a maximum of 8 credits.

Top AEC 211 MANAGEMENT IN AGRICULTURE (4) 
Economic and business principles applied to the management of agribusiness firms, including farms and ranches; goal-setting and management information; planning and decision-making tools; acquiring, organizing, and managing land, labor, and capital resources. PREREQS: AEC 250 or AREC 250 or ECON 201 or ECON 201H

Top AEC 221 MARKETING IN AGRICULTURE (3) 
Organization and functions of domestic and international markets; market channels for various agricultural commodities; role of agribusiness, cooperatives, and government in marketing decisions. PREREQS: AEC 250 or AREC 250 or ECON 201 or ECON 201H

Top AEC 240 RURAL ECONOMICS OF PLACE AND PEOPLE (3)  Baccalaureate Core Course
Provides perspective on issues influencing rural communities and economic development in rural America. People, places and natural resources of rural communities play a vital role in economic vitality of the West, yet rural landscapes are changing faster than many urban counterparts. (Bacc Core Course)

Top AEC 250 INTRODUCTION TO ENVIRONMENTAL ECONOMICS AND POLICY (3)  Baccalaureate Core Course
Examines how economic forces and social institutions cause environmental degradation and help build management solutions. Explains key economic concepts for valuing environmental resources and evaluating the trade-offs of alternative management approaches from private markets to regulation. Applies the concepts and theories to topical environmental issues such as water pollution and conserving biodiversity. (Bacc Core Course) PREREQS: MTH 111 or equivalent is recommended.

Top AEC 253 ENVIRONMENTAL LAW, POLICY, AND ECONOMICS (4)  Baccalaureate Core Course
A general introduction to federal environmental law and policy in the U.S. Familiarizes students with basic legal institutions and concepts of the American legal system, outlines the transition of environmental policy from its common law roots to its modern administrative law form, and gives an overview of the major federal environmental statutes. Relationships among legal theory and process and economic principles are emphasized. (Bacc Core Course)

Top AEC 299 SPECIAL TOPICS (1-4) 
Targeted courses that focus on specific topics in agricultural and resource economics. Topics may vary from term to term and from year to year. May be repeated for credit when topics differ. This course is repeatable for a maximum of 8 credits.

Top AEC 300 APPLIED ECONOMIC ANALYSIS (3) 
An intermediate level primer of microeconomic principles focusing on consumption and production theory and its application in the agriculture industry. The course serves as a bridge between principles of economics and intermediate economic theory courses. Both abstract and mathematical formulations of economic principles are emphasized. PREREQS: (AEC 250 or AREC 250 or ECON 201 or ECON 201H) and MTH 241

Top AEC 311 MICROECON: TOOLS FOR CONSUMER CHOICE/PRODUCTION EFFICIENCY (4) 
An examination of the theories of consumer behavior and demand, production cost, the firm, supply, and competitive and monopoly market structures. PREREQS: (AEC 250 or AREC 250 or ECON 201 or ECON 201H) and (MTH 241 or MTH 251 or MTH 251H)

Top AEC 313 WELFARE ECONOMICS AND RESOURCE POLICY (3) 
Focuses on the intermediate microeconomic theory of social welfare and decision-making. Topics include welfare theory, externalities and public goods, public choice, uncertainty, asymmetric information, and cost-benefit analysis. Substantial attention will be given to the implications of these theories for real-world problems, especially regarding resource and environmental issues. PREREQS: AEC 311 or AREC 311 or ECON 311

Top AEC 351 NATURAL RESOURCE ECONOMICS AND POLICY (3)  Baccalaureate Core Course
Application of principles of economics to identify the causes, consequences, and ways of dealing with natural resource problems, including problems associated with fisheries, forests, water resources, and land. Conceptual topics and policy applications. Emphasis is on developing students' skill in applying an economic way of thinking about natural resource management. (Bacc Core Course) PREREQS: (AEC 250 or AREC 250 or ECON 201 or ECON 201H) and MTH 111

Top AEC 352 ENVIRONMENTAL ECONOMICS AND POLICY (3)  Baccalaureate Core Course
Provides an overview of the interrelationships between economic activity, the environment, and public policy. Through case studies, discussion groups, readings, and group activities, students learn how economists define and analyze environmental problems and the types of policies they advocate for managing environmental quality. CROSSLISTED as ECON 352. (Bacc Core Course) PREREQS: AEC 250 or AREC 250 or ECON 201 or ECON 201H

Top AEC 371 TOPICS IN GLOBALIZATION (1) 
Surveys current economics issues associated with globalization.

Top AEC 372 AGRICULTURAL COOPERATIVES (3) 
An introduction to and in-depth examination of the agricultural cooperative. Students will gain a working knowledge of the concepts, principles, and terminology of agricultural cooperatives through reference materials, lectures, presentations by guest speakers and a cooperatives tour. Students will consider the strengths and weaknesses of the agricultural cooperative as well as the unique management and operational challenges inherent to this form of business operation. PREREQS: AEC 211 or AREC 211

Top AEC 382 FARM AND RANCH APPRAISAL (4) 
An introduction to appraisal of rural real estate, including methods of valuing property, different types of appraisals, and preparation and interpretation of an appraisal report. PREREQS: ( (AEC 250 or AREC 250 or ECON 201 or ECON 201H) and (AEC 211 or AREC 211) )

Top AEC 388 AGRICULTURAL LAW (4) 
Application of legal principles to business decision making in farming, ranching, and the agricultural support industry. Consideration of the obligations arising out of contract, tort, property, water, public land, and natural resource law.

Top AEC 399 SPECIAL TOPICS (1-4) 
Targeted courses that focus on specific topics in agricultural and resource economics. Topics may vary from term to term and from year to year. May be repeated for credit when topics differ. This course is repeatable for a maximum of 8 credits.

Top AEC 399H SPECIAL TOPICS (1-4) 
Targeted courses that focus on specific topics in agricultural and resource economics. Topics may vary from term to term and from year to year. May be repeated for credit when topics differ. This course is repeatable for a maximum of 8 credits. PREREQS: Honors College approval required.

Top AEC 401 RESEARCH AND SCHOLARSHIP (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Departmental approval required.

Top AEC 402 INDEPENDENT STUDY (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Departmental approval required.

Top AEC 403 THESIS (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Senior standing, departmental approval required.

Top AEC 405 READING AND CONFERENCE (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Departmental approval required.

Top AEC 406 PROJECTS (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Departmental approval required.

Top AEC 407 SEMINAR (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Departmental approval required.

Top AEC 407H SEMINAR (1-16) 
This course is repeatable for a maximum of 16 credits. PREREQS: Honors College approval required.

Top AEC 408 WORKSHOP (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 410 INTERNSHIP (1-6) 
Practical on-the-job training in agricultural business, marketing, commercial agricultural production, or related private or public organizations. Graded P/N. This course is repeatable for a maximum of 6 credits. PREREQS: Junior or senior standing. Submission and approval of pre-internship work plans. Internship program coordinator approval required.

Top AEC 421 ECONOMICS OF RURAL POVERTY AND THE U.S. SOCIAL SAFETY NET (4) 
Examines the geography of poverty in the United States and the "social safety net" that the U.S. has constructed to reduce poverty and its negative effects. Understand the geographical consequences of federal policies and the challenges of providing social safety net programs in rural areas. CROSSLISTED as RS 421.

Top AEC 432 ENVIRONMENTAL LAW (4) 
Legal relationships arising out of rights to air, water, and land. The impact of federal and state regulation on pollution control and on the production, use, and disposal of hazardous materials. PREREQS: Junior standing.

Top AEC 434 MEASURING RESOURCE AND ENVIRONMENTAL IMPACTS (4)  WIC Core Course
Examines economic perspectives on the allocation of natural resources and the management of environmental quality, emphasis on the use of economic concepts in the design and evaluation of public policies. (Writing Intensive Course) PREREQS: AEC 313 or AREC 313

Top AEC 438 EXPLORING WORLD AGRICULTURE (2) 
Survey of crop and livestock production in a designated section of the world, including history, culture, and political situation. Course is designed to prepare students for a tour of study area. Not offered every year. CROSSLISTED as ANS 438, CROP 438, CSS 438, HORT 438 This course is repeatable for a maximum of 8 credits.

Top AEC 441 AGRICULTURAL FINANCIAL MANAGEMENT (4) 
Principles of financial management in production agriculture and agribusiness; financial statements, budgets, and capital investment analysis; business organization forms; legal aspects of borrowing; sources and terms of agricultural credit; taxation. Offered at EOU LaGrande campus only. PREREQS: (AEC 211 or AREC 211) and (AEC 300 or AREC 300 or AEC 311 or AREC 311)

Top AEC 442 AGRICULTURAL BUSINESS MANAGEMENT (4) 
Application of economic, financial, and strategic management principles to agricultural business with a focus on a case-study framework for analysis and business decision making for alternative business management strategies.

Top AEC 444 COMMODITY FUTURES AND OPTIONS MARKETS (4) 
Provides an overview of the basic concepts needed to use commodity futures and options markets to successfully manage price risk. To address the increasingly global economy in which commodity transactions occur, the course also includes financial futures such as interest rates and currencies. Specific topics covered include contract standardization, speculation and hedging, opening and closing of positions, and basis, i.e. the relationship between cash and futures markets, input-output hedges, and spreads. Students also gain hands-on experience through a trading simulation.

Top AEC 447 AGRICULTURAL PRICE AND MARKET ANALYSIS (4) 
Price determination for agricultural commodities and factors; quantitative analysis of prices, factors and markets; agricultural market structures, performance, and roles of institutions. Lec/lab. PREREQS: (AEC 300 or AEC 311 or AREC 300 or AREC 311 or ECON 311) and (AEC 370 or AREC 370) and ST 351

Top AEC 448 ADVANCED READINGS IN ENVIRONMENTAL ECONOMICS AND POLICY (1) 
Introduces advanced theories and applications of environmental economics to selected policy concerns in the PNW and more globally. Attention will be directed to the methodology underpinnings of environmental policies and instruments using case studies on current, real world management issues. PREREQS: (AEC 311 or AREC 311) and (AEC 351 or AREC 351) and (AEC 352 or AREC 352)

Top AEC 449 RENEWABLE ENERGY ALTERNATIVES: ECONOMICS AND TECHNOLOGY (1) 
An overview of sustainable energy concepts and economic issues relevant to understanding the potential role of renewable energy in the nation's total energy mix. PREREQS: AEC 250 or AREC 250 or ECON 201 or ECON 201H

Top AEC 450 VALUING ECOSYSTEM SERVICES (1) 
Explores the economic dimensions of policies that are impacted by and target ecosystem services, including markets for ecosystem services, and the connections to institutions, regulations, and societal preferences. PREREQS: AEC 351 or AEC 352 or AREC 351 or AREC 352

Top AEC 452 MARINE ECONOMICS (3) 
Economic aspects of marine resource utilization and management will be analyzed. Topics include open access aspect of marine resources; conflict and allocation of marine resources, marine resource markets, marine recreation, pollution, and aquaculture, with special emphasis on commercial fisheries. PREREQS: AEC 351 or AEC 352 or AREC 351 or AREC 352

Top AEC 454 RURAL DEVELOPMENT ECONOMICS AND POLICY (3) 
Theories of economic change in developed and less-developed economies; natural resource sectors and the development of rural regions, with emphasis on growth, diversification, and instability; resource mobility and the spatial aspects of development; poverty and inequality; rural development policy. PREREQS: AEC 300 or AREC 300 or AEC 311 or AREC 311

Top AEC 456 ECONOMICS OF WATER CONSERVATION (1) 
Students will analyze water conservation by examining the relationship between economic and technological efficiency in water systems and management; and the competition between water and energy needs. PREREQS: (AEC 311 or AREC 311) and (AEC 313 or AREC 313)

Top AEC 457 ECONOMICS AND GLOBAL CLIMATE CHANGE (1) 
Uses economic concepts to explore and critically assess the economic impacts of climate change and policies to address both mitigation and adaptation. Attention will be directed to the global dimensions of these resource issues, recent and proposed policies to address the climate change, and focus on the agricultural sectors in the PNW and globally. PREREQS: (AEC 311 or AREC 311) and (AEC 351 or AREC 351) and (AEC 352 or AREC 352)

Top AEC 458 ECONOMICS OF SUSTAINABLE GROWTH AND DEVELOPMENT (1) 
Uses economic concepts to explore and critically assess fundamental questions about economic growth, development, and sustainability. PREREQS: AEC 250 or AREC 250 or ECON 201 or ECON 201H

Top AEC 460 CAPITAL INVESTMENT ANALYSIS USING AGTOOLS (3) 
Learn and understand the important factors in measuring the impacts of implementing technologies and/or conservation practices, adding value to products, or changing cropping systems or livestock enterprises. The AgTools TM software programs will be used to apply financial and economic principles to better understand and reduce the financial, production, marketing, and human resource risks facing agribusinesses.

Top AEC 461 AGRICULTURAL AND FOOD POLICY ISSUES (4)  WIC Core Course
Principles of agricultural and food policy formulation; agricultural adjustment processes; agricultural price and income policies in relation to land use, water, and rural development policies; interrelationships among U.S. and foreign agriculture and trade policies. (Writing Intensive Course) PREREQS: (AEC 250 or AREC 250 or ECON 201 or ECON 201H) and (AEC 300 or AREC 300 or AEC 311 or AREC 311 or ECON 311)

Top AEC 462 THE ECONOMIC HISTORY OF AMERICAN AGRICULTURE (3) 
Focuses on the historical development of the agricultural industry in the United States from the time of settlement through recent times. The colonial years, expansion into Western territories, development of new technologies, and the eventual emergence of government as an important force in agriculture receive special attention. The relationship between agriculture and the remainder of the economy call attention to poverty, money and banking, pure food laws, and the reaction to the New Deal.

Top AEC 465 M/AGRICULTURAL FINANCIAL REPORTING AND ANALYSIS (3) 
Covers balance sheet, income statement, statement of cash flows, and statement of owner equity, using standards outlined by the Farm Financial Records Task Force. Also the use of ratios to evaluate financial performance. PREREQS: (AEC 211 or AREC 211) and (AEC 311 or AREC 311) and BA 360

Top AEC 467 M/CAPITAL BUDGETING IN AGRICULTURE (1) 
Overview of capital budgeting techniques as applied to agribusiness decisions. Specific topics include methods of controlling land, leasing versus buying nonland capital assets. PREREQS: (AEC 211 or AREC 211) and (AEC 311 or AREC 311) and BA 360

Top AEC 468 M/CROP ENTERPRISE BUDGETING (1) 
Develop and calculate the per acre costs and returns of producing a crop enterprise. Includes the costs of owning and operating farm machinery. Distinguish between accountants' and economists' definitions of production costs. PREREQS: AEC 211 or AREC 211

Top AEC 469 M/LIVESTOCK ENTERPRISE BUDGETING (1) 
Develop and calculate the costs and returns of producing a livestock enterprise. Includes the costs of raising breeding animals, as well as owning and operating machinery and livestock facilities. Distinguish between accountants' and economists' definition of production costs. PREREQS: AEC 211 or AREC 211

Top AEC 470 M/FARM BUDGETING AND PLANNING (1) 
The process of planning a farm. Developing long-run whole farm budgets, cash flow planning/budgeting, monitoring and control, and year end analysis. PREREQS: (AEC 211 or AREC 211) and BA 215

Top AEC 475 M/NEGOTIATION IN BUSINESS AND RESOURCE MANAGEMENT (1) 
Understanding the theory and processes of negotiation as it is practiced in a variety of settings. The course covers distributive and integrative bargaining, dealing with the complexities of multi-party and multi-issue negotiations, and ethical issues that arise in negotiations. PREREQS: Junior or senior standing.

Top AEC 476 M/AGRICULTURAL PERSONNEL MANAGEMENT (2) 
A primer on agricultural personnel management including such topics as economic principles related to agricultural labor/management relations, the hiring process, performance appraisal, wage/benefit compensation, promotion/termination, personnel management from the employer perspective, and personnel management from the employee perspective. Graded P/N.

Top AEC 499 SPECIAL TOPICS (1-3) 
Various topics in agricultural and resource economics of special and current interest not covered in other courses. This course is repeatable for a maximum of 9 credits.

Top AEC 501 RESEARCH AND SCHOLARSHIP (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 16 credits.

Top AEC 503 THESIS/DISSERTATION (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 999 credits.

Top AEC 505 READING AND CONFERENCE (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 16 credits.

Top AEC 506 SPECIAL PROJECTS (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 507 SEMINAR (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 16 credits.

Top AEC 508 WORKSHOP (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 512 MICROECONOMIC THEORY I (4)  Offered in current or future terms
Fundamental topics in microeconomic theory. Topics include utility maximization and consumer demand, profit maximization and the theory of the firm, and labor and capital markets. PREREQS: AREC 312 and MTH 252 or equivalent.

Top AEC 513 MICROECONOMIC THEORY II (4)  Offered in current or future terms
Emphasizes principles for microeconomic theory at the master's level. Builds upon the foundations covered in AEC 512, and extends the theory and principles to cover uncertainty, game theory, competitive market equilibrium and welfare analysis, imperfect competition, and market failures. Primary emphasis is on understanding microeconomic theory and the underlying assumptions, and how it is applied to real world settings. PREREQS: AEC 512

Top AEC 515 MACROECONOMIC THEORY (4) 
Macroeconomic theory and policy that covers the historical foundations and evolution of modern macroeconomic thought. Topics include the equilibrium determination of output, employment, prices, wages, and interest rates; the causes and consequences of economic fluctuations; monetary and fiscal policies; micro-foundations; and the role of expectations. PREREQS: ECON 315 and MTH 251 or equivalent.

Top AEC 521 ECONOMICS OF RURAL POVERTY AND THE U.S. SOCIAL SAFETY NET (4) 
Examines the geography of poverty in the United States and the "social safety net" that the U.S. has constructed to reduce poverty and its negative effects. Understand the geographical consequences of federal policies and the challenges of providing social safety net programs in rural areas. CROSSLISTED as RS 521.

Top AEC 523 PRELIMINARIES FOR QUANTITATIVE METHODS (4) 
Examines mathematical and statistical topics essential for subsequent courses in graduate-level econometric analysis and quantitative methods. The course focuses on matrix algebra, probability and distribution theory (emphasizing joint and conditional distributions), statistical inference, properties of estimators, and iterative methods for solving non-linear systems. PREREQS: (ST 351 or ST 352 or ECON 424 or ECON 524) and MTH 253

Top AEC 525 APPLIED ECONOMETRICS (4)  Offered in current or future terms
General principles of applied econometric research are emphasized, including model building, data analysis, hypothesis testing, and evaluation and interpretation of results. A variety of estimators are applied to real data, including least squares, panel data, simultaneous equations, discrete choice, and limited dependent variable models.

Top AEC 532 ENVIRONMENTAL LAW (4) 
Legal relationships arising out of rights to air, water, and rights to air, water, and land. The impact of federal and state regulation on pollution control and on the production, use, and disposal of hazardous materials. PREREQS: Junior standing.

Top AEC 534 ENVIRONMENTAL AND RESOURCE ECONOMICS (3) 
Examines environmental and natural resource issues emphasizing the role of economics in understanding their causes, consequences, and potential solutions (e.g. air, water, fish, forests, climate change, biodiversity). Reviews welfare economics, market failures, externalities, property rights. Covers non-market valuation, innovative market and regulatory policies. PREREQS: AEC 311 or AREC 311 or instructor permission.

Top AEC 543 INTERNATIONAL TRADE (4) 
Introduction to the major theories of international trade and to models that are useful for applied policy and regional analysis. Effects of trade and trade policy on consumers, workers, and firms are emphasized. PREREQS: AEC 513

Top AEC 544 COMMODITY FUTURES AND OPTIONS MARKETS (4) 
Provides an overview of the basic concepts needed to use commodity futures and options markets to successfully manage price risk. To address the increasingly global economy in which commodity transactions occur, the course also includes financial futures such as interest rates and currencies. Specific topics covered include contract standardization, speculation and hedging, opening and closing of positions, and basis, i.e. the relationship between cash and futures markets, input-output hedges, and spreads. Students also gain hands-on experience through a trading simulation.

Top AEC 550 ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS (4) 
Presents concepts, theories, and methods used in the economic analysis of environmental and natural resource issues. The emphasis is on the economics of environmental policies and the development of decision rules regarding the efficient use of natural resources. PREREQS: AEC 512

Top AEC 551 APPLICATIONS OF ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS (4) 
Applies and expands upon concepts, theories, and methods in environmental and natural resource economics introduced in AEC 550. Topics include non-market valuation, discounting, and benefit-cost analysis, as well as the role and importance of institutions, appropriate research methods, and the philosophical basis for normative judgments in economics. Not offered every year. PREREQS: AEC 550 or AREC 550

Top AEC 552 MARINE ECONOMICS (3) 
Economic aspects of marine resource utilization and management will be analyzed. Topics include open access aspect of marine resources; conflict and allocation of marine resources, marine resource markets, marine recreation, pollution, and aquaculture, with special emphasis on commercial fisheries. CROSSLISTED as MRM 552 PREREQS: (AEC 351 or AEC 352 or AREC 351 or AREC 352)

Top AEC 554 RURAL DEVELOPMENT ECONOMICS AND POLICY (3) 
Theories of economic change in developed and less-developed economies; natural resource sectors and the development of rural regions, with emphasis on growth, diversification, and instability; resource mobility and the spatial aspects of development; poverty and inequality; rural development policy. PREREQS: AEC 300 or AREC 300 or AREC 311 or AEC 311

Top AEC 556 ECONOMICS OF WATER CONSERVATION (1) 
Students will analyze water conservation by examining the relationship between economic and technological efficiency in water systems and management; and the competition between water and energy needs. PREREQS: (AEC 311 or AREC 311) and (AEC 313 or AREC 313)

Top AEC 560 CAPITAL INVESTMENT ANALYSIS USING AGTOOLS (3) 
Learn and understand the important factors in measuring the impacts of implementing technologies and/or conservation practices, adding value to products, or changing cropping systems or livestock enterprises. The AgTools TM software programs will be used to apply financial and economic principles to better understand and reduce the financial, production, marketing, and human resource risks facing agribusinesses.

Top AEC 562 THE ECONOMIC HISTORY OF AMERICAN AGRICULTURE (3) 
Focuses on the historical development of the agricultural industry in the United States from the time of settlement through recent times. The colonial years, expansion into Western territories, development of new technologies, and the eventual emergence of government as an important force in agriculture receive special attention. The relationship between agriculture and the remainder of the economy call attention to poverty, money and banking, pure food laws, and the reaction to the New Deal.

Top AEC 565 M/AGRICULTURAL FINANCIAL REPORTING AND ANALYSIS (3) 
Covers balance sheet, income statement, statement of cash flows, and statement of owner equity, using standards outlined by the Farm Financial Records Task Force. Also the use of ratios to evaluate financial performance. PREREQS: (AEC 211 or AREC 211) and (AEC 311 or AREC 311) and BA 360

Top AEC 567 M/CAPITAL BUDGETING IN AGRICULTURE (1) 
Overview of capital budgeting techniques as applied to agribusiness decisions. Specific topics include methods of controlling land, leasing versus buying nonland capital assets. PREREQS: (AEC 211 or AREC 211) and (AEC 300 or AREC 300) and BA 340

Top AEC 599 SPECIAL TOPICS (0-16) 
Various topics in applied economics of special and current interest not covered in other courses. This course is repeatable for a maximum of 16 credits.

Top AEC 601 RESEARCH AND SCHOLARSHIP (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 16 credits.

Top AEC 602 INDEPENDENT STUDY (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 603 THESIS/DISSERTATION (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 999 credits.

Top AEC 605 READING AND CONFERENCE (1-16)  Offered in current or future terms
This course is repeatable for a maximum of 16 credits.

Top AEC 606 SPECIAL PROJECTS (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 607 SEMINAR (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 608 WORKSHOP (1-16) 
This course is repeatable for a maximum of 16 credits.

Top AEC 611 ADVANCED MICROECONOMIC THEORY I (4)  Offered in current or future terms
A rigorous development of the theory of consumption and production, with emphasis on duality. PREREQS: (AEC 512 and AEC 513) and MTH 254 or equivalent.

Top AEC 612 ADVANCED MICROECONOMIC THEORY II (4)  Offered in current or future terms
A rigorous extension of the theory of the consumer and firm to aggregate and heterogeneous populations, decision making under uncertainty, and related game theory concepts. PREREQS: AEC 611

Top AEC 613 ADVANCED MICROECONOMIC THEORY III (4)  Offered in current or future terms
A rigorous development of the theory of competitive equilibrium, market power, public goods, and information. PREREQS: AEC 612

Top AEC 615 ADVANCED MACROECONOMIC THEORY (4) 
Introduction to modern macroeconomic theory on economic growth and fluctuations, including a review of Keynesian theory, optimal control theory and dynamic programming, exogenous and endogenous growth models, government budget deficit and debt, and unemployment theories. PREREQS: Intermediate macroeconomics or equivalent.

Top AEC 625 ADVANCED ECONOMETRICS I (4)  Offered in current or future terms
Emphasizes basic theory underlying the main types of estimators used in econometrics, as well as their application in empirical research. Includes derivation, properties, and application of ordinary and generalized method of moments, maximum likelihood, and ordinary and generalized least squares estimators, statistical inference and hypothesis testing, and model building and specification analysis. PREREQS: AEC 523

Top AEC 626 ADVANCED ECONOMETRICS II (4)  Offered in current or future terms
Extensions to the generalized linear regression model are considered: discrete choice, limited dependent variable, panel data, and simultaneous equations models, and new solutions to identification problems. Strong applied orientation, emphasizing problems of data measurement, model selection and specification. PREREQS: AEC 625

Top AEC 627 COMPUTATIONAL ECONOMICS (4)  Offered in current or future terms
Covers the numerical analysis of static optimization models and stochastic dynamic models in resource and development economics, emphasizing formulation, solution, and simulation of dynamic optimization, rational expectations, and arbitrage pricing models. PREREQS: (AEC 512 and AEC 523)

Top AEC 640 SUSTAINABLE DEVELOPMENT (3) 
Surveys research on the quantitative economic analysis of sustainable development, with an emphasis on integrated assessment methods and models and their application to agriculture and rural development policy, agricultural technology impact assessment, and climate change impact assessment.

Top AEC 643 TRADE AND DEVELOPMENT (4) 
Introduction to advanced topics in modern trade theory, including technology and trade, distributional effects of trade with emphasis on regional development, trade and the environment, and multilateral trade negotiations. Applications of the above theories to specific industries are emphasized. PREREQS: (AEC 543 or AREC 543) and AEC 612* and AEC 625*

Top AEC 651 ADVANCED NATURAL RESOURCE ECONOMICS (3) 
Dynamic allocation of scarce exhaustible and renewable natural resources, social versus private decisions; market and non-market considerations; technological change; regulation; dynamics and uncertainty. PREREQS: AEC 513

Top AEC 652 ADVANCED ENVIRONMENTAL ECONOMICS (3) 
Interrelationships of natural resource use and the environment; applied welfare and benefit-cost analysis; externalities and pollution abatement; non-market valuation of resources; property rights; legal and social constraints; policy approaches. PREREQS: (AEC 513 or AREC 513) and (AEC 525 or AREC 525)

Top AEC 653 SPATIAL ECONOMICS OF NATURAL RESOURCES (3) 
Introduces the tools of spatial economics and demonstrates how those tools have been applied to various natural resources. PREREQS: AEC 651 or AREC 651

Top AEC 699 SPECIAL TOPICS (1-16) 
Various topics in applied economics of special and current interest not covered in other courses. This course is repeatable for a maximum of 16 credits.



 
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