Applied Economics (AEC)
AEC 004, INTERNSHIP, 0 Credits
Provides basic personal and professional skills that can be used within and outside of a work setting. Through practice, this experience guides students in building and maintaining positive professional relationships, networking/mentoring relationships, and enhances students’ understanding of the connection between theory and practice in their respective disciplines.
AEC 121, DISCOVERING AGRICULTURAL AND RESOURCE ECONOMICS, 1 Credit
Explore issues, opportunities, and challenges in the dynamic and diverse employment field of agricultural and resource economics.
AEC 122, *INTRODUCTION TO CLIMATE CHANGE ECONOMICS AND POLICY, 3 Credits
Examines the role of economics and policy to mitigate greenhouse gas (GHG) emissions and adapt to climate change. Explores the challenges in global policy cooperation, the unequal distribution of economic damages across space and time, and the uncertainties inherent in every climate policy decision. Analyzes strategies to GHG mitigate emissions, including market-based solutions like cap and trade, along with adaptation policy options related to sea-level rise, natural disasters, agriculture, forests and human migration. (Bacc Core Course)
Attributes: CPSI – Bacc Core, Perspectives, Social Processes & Institutions
Available via Ecampus
AEC 199, SPECIAL TOPICS, 1-4 Credits
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 8 credits.
AEC 211, AGRICULTURAL AND FOOD MANAGEMENT, 4 Credits
Economic and business principles applied to the management of firms in agricultural and food industries, including farms, ranches and nurseries, agricultural input suppliers, packers, shippers, processors and food manufacturers and distributors; firm-level goal setting, information management and financial analysis.
Prerequisite: AEC 250 with C- or better or AEC 250H with C- or better or AEC 251 with C- or better or ECON 201 with C- or better or ECON 201H with C- or better
Available via Ecampus
AEC 221, AGRICULTURAL AND FOOD MARKETING, 3 Credits
Organization and functions of agricultural and food markets both domestic and international; market channels and supply chains for various agricultural commodities and food products; role of agribusiness, cooperatives, and government in marketing decisions.
Available via Ecampus
AEC 243, *GLOBAL POVERTY AND SUSTAINABLE DEVELOPMENT, 3 Credits
Students are introduced to the challenges of eradicating extreme poverty and achieving sustainable economic development in the world. Topics include: the measurement of poverty and inequality; analysis of food security and agricultural development; the role of health and education in economic development; credit markets; risk and insurance; climate change and biodiversity; gender equality; rural-urban and international migration; population growth and development; institutions and economic performance; the political economy of development.
Attributes: CPSI – Bacc Core, Perspectives, Social Processes & Institutions
AEC 250, *INTRODUCTION TO ENVIRONMENTAL ECONOMICS AND POLICY, 4 Credits
Examines how economic forces and social institutions contribute to 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.
Attributes: CPSI – Bacc Core, Perspectives, Social Processes & Institutions
Equivalent to: AEC 250H
Recommended: MTH 111Z
Available via Ecampus
AEC 250H, *INTRODUCTION TO ENVIRONMENTAL ECONOMICS AND POLICY, 4 Credits
Examines how economic forces and social institutions contribute to 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.
Attributes: CPSI – Bacc Core, Perspectives, Social Processes & Institutions; HNRS – Honors Course Designator
Equivalent to: AEC 250
Recommended: MTH 111Z
AEC 251, *INTRODUCTION TO AGRICULTURAL AND FOOD ECONOMICS, 4 Credits
Examines the unique challenges of agricultural and food systems and their economic consequences. Applies rational choice theory, models of supply and demand, and models of market structure, with particular attention on price formation for agricultural and food products. Analyzes how market interdependencies, government policy, the behavior of firms, and market structure within agricultural and food systems affects performance of the U.S. agri-food system.
Attributes: CPSI – Bacc Core, Perspectives, Social Processes & Institutions
Recommended: MTH 111Z
Available via Ecampus
AEC 253, *ENVIRONMENTAL LAW, POLICY, AND ECONOMICS, 4 Credits
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.
Attributes: CPWC – Bacc Core, Perspectives, Western Culture
Available via Ecampus
AEC 299, SPECIAL TOPICS, 1-4 Credits
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.
Equivalent to: AREC 299
This course is repeatable for 8 credits.
AEC 311, INTERMEDIATE APPLIED ECONOMICS I: PRODUCERS AND CONSUMERS, 4 Credits
An examination of the theories of consumer behavior and demand, production cost, the firm, supply, and competitive and monopoly market structures.
Prerequisite: (AEC 250 with C- or better or AEC 250H with C- or better or AEC 251 with C- or better or ECON 201 with C- or better or ECON 201H with C- or better) and (MTH 241 [C-] or MTH 251 [C-] or MTH 251H [C-])
Available via Ecampus
AEC 313, INTERMEDIATE APPLIED ECONOMICS II: MARKETS, WELFARE & POLICY, 4 Credits
Complementing the private-decision focus in AEC 311, the present course focuses on the intermediate microeconomic theory of social welfare and public decision-making. Topics include exchange, monopoly, game theory, social welfare, externalities, public goods and choice, asymmetric information, uncertainty, 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.
Prerequisite: MTH 241 with C- or better or AEC 311 with C- or better or ECON 311 with C- or better
Available via Ecampus
AEC 351, *NATURAL RESOURCE ECONOMICS AND POLICY, 3 Credits
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.
Attributes: CSGI – Bacc Core, Synthesis, Contemporary Global Issues
Prerequisite: AEC 250 with D- or better or AEC 250H with D- or better or ECON 201 with D- or better or ECON 201H with D- or better
Recommended: MTH 111Z
Available via Ecampus
AEC 352, *ENVIRONMENTAL ECONOMICS AND POLICY, 3 Credits
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 AEC 352/ECON 352.
Attributes: CSGI – Bacc Core, Synthesis, Contemporary Global Issues
Prerequisite: AEC 250 with D- or better or AEC 250H with D- or better or ECON 201 with D- or better or ECON 201H with D- or better
Equivalent to: ECON 352
Available via Ecampus
AEC 353, *INTRODUCTION TO COASTAL AND MARINE RESOURCE ECONOMICS, 3 Credits
Introduces tools of economic analysis for understanding coastal and marine resource management. Surveys a selection of current topics in the field, emphasizing innovation in production and stewardship, institutions, and sustainability.
Attributes: CSST – Bacc Core, Synthesis, Science/Technology/Society
Prerequisite: (MTH 111 with C- or better or MTH 111Z with C- or better) and (AEC 250 [C-] or AEC 250H [C-] or ECON 201 [C-] or ECON 201H [C-])
Available via Ecampus
AEC 372, AGRICULTURAL COOPERATIVES, 3 Credits
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.
Prerequisite: AEC 211 with D- or better
AEC 388, AGRICULTURAL LAW, 4 Credits
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.
Available via Ecampus
AEC 399, SPECIAL TOPICS, 1-4 Credits
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.
Equivalent to: AEC 399H, AREC 399H
This course is repeatable for 8 credits.
AEC 399H, SPECIAL TOPICS, 1-4 Credits
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.
Attributes: HNRS – Honors Course Designator
Equivalent to: AEC 399, AREC 399
This course is repeatable for 8 credits.
AEC 401, RESEARCH AND SCHOLARSHIP, 1-16 Credits
Equivalent to: AREC 401
This course is repeatable for 16 credits.
Available via Ecampus
AEC 402, INDEPENDENT STUDY, 1-16 Credits
Equivalent to: AREC 402
This course is repeatable for 16 credits.
AEC 403, THESIS, 1-16 Credits
Equivalent to: AREC 403
This course is repeatable for 16 credits.
AEC 405, READING AND CONFERENCE, 1-16 Credits
Equivalent to: AREC 405
This course is repeatable for 16 credits.
AEC 406, PROJECTS, 1-16 Credits
Equivalent to: AREC 406
This course is repeatable for 16 credits.
Available via Ecampus
AEC 407, SEMINAR, 1-16 Credits
Equivalent to: AEC 407H, AREC 407, AREC 407H
This course is repeatable for 16 credits.
AEC 407H, SEMINAR, 1-16 Credits
Attributes: HNRS – Honors Course Designator
Equivalent to: AEC 407, AREC 407, AREC 407H
This course is repeatable for 16 credits.
AEC 408, WORKSHOP, 1-16 Credits
Equivalent to: AREC 408
This course is repeatable for 16 credits.
AEC 410, INTERNSHIP, 1-6 Credits
This course is repeatable for 6 credits.
Available via Ecampus
AEC 411, *INTRODUCTION TO FOOD SYSTEMS: LOCAL TO GLOBAL, 3 Credits
Critically examines the operation and outcomes of food systems using a systems thinking framework to analyze food supply chains, including inputs such as natural processes, technology, labor, education and public policy. Emphasizes the causal connections between food system activities and how they give rise to a wide range of environmental and social challenges, from climate change to food insecurity. Evaluates and recommends public and private policy to improve food system outcomes. Emphasizes analysis based on scale, historical changes, social and cultural perspectives, and emerging alternative food system practices including organic production.
Attributes: CSST – Bacc Core, Synthesis, Science/Technology/Society
Equivalent to: AGRI 411
Available via Ecampus
AEC 421, ECONOMICS OF RURAL POVERTY AND THE U.S. SOCIAL SAFETY NET, 4 Credits
Introduces students to 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. The course focuses on the geography of the social safety net, the operation and administration of the safety net, and how recent changes in the social safety net may have disadvantaged rural people and places.
Equivalent to: RS 421
Available via Ecampus
AEC 432, ENVIRONMENTAL LAW, 4 Credits
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.
Available via Ecampus
AEC 434, ^BENEFIT-COST ANALYSIS, 4 Credits
Develops the fundamental tools for Benefit-Cost Analysis, a technique for evaluating a project or investment by comparing the economic benefits with the economic costs of the activity. Examines the tricky topic of how to measure the benefits of non-market such as good health and higher environmental quality. The methods introduced here apply to a wide variety of situations. Explores the broad issues of how to think about uncertainty and risk, how to discount future costs and benefits, to value lives saved, and other challenging topics.
Attributes: CSWC – Core Ed - Writing Intensive Curriculum (WIC); CWIC – Bacc Core, Skills, Writing Intensive Curriculum (WIC)
Prerequisite: AEC 311 with C- or better or ECON 411 with C- or better
Recommended: ST 352 or familiarity with regression analysis
Available via Ecampus
AEC 440, THE ECONOMICS OF BUSINESS ORGANIZATION IN THE FOOD SYSTEM, 4 Credits
Application of economic analysis to questions related to the choice of an appropriate form of business organization for a wide variety of food system enterprises. Topics include costs of contracting, costs of ownership, enterprise scope and scale, and the dynamics of business ownership and structure. Particular emphasis is given to entrepreneurial enterprises and cooperative businesses in the food system.
Prerequisite: AEC 311 with D- or better or ECON 311 with D- or better
AEC 442, AGRICULTURAL BUSINESS MANAGEMENT, 4 Credits
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.
AEC 444, COMMODITY FUTURES AND OPTIONS MARKETS, 4 Credits
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.
Available via Ecampus
AEC 446, INTRODUCTION TO APPLIED ECONOMETRICS, 4 Credits
Introduces students to applied econometrics: the use of statistical techniques to estimate and test economic relationships. Topics include multiple regression models, multicollinearity, and simultaneous equations. The applications and labs will focus on econometric analysis of real world problems pertaining to issues in environmental, food, and resource economics and policy.
Prerequisite: AEC 311 with D- or better and (ST 351 [D-] or ST 351H [D-])
Available via Ecampus
AEC 447, AGRICULTURAL PRICE AND MARKET ANALYSIS, 4 Credits
Price determination for food and agricultural commodities; development of quantitative economic models that explain and predict prices and other market outcomes.
AEC 448, ADVANCED TOPICS IN ENVIRONMENTAL AND RESOURCE ECONOMICS, 3 Credits
Reviews core concepts of economic efficiency and market failures and then focuses on the economics of environmental regulation. Develops an appreciation for the structure of key concepts that underlie the economic approach to environmental issues and applications to policy and regulations. Builds skills in assessing regulatory policies from the perspective of economics.
AEC 455, PROGRAM EVALUATION, 3 Credits
Explores the leading methods for evaluating the impact of public programs and policies, specifically focusing on causal inference and empirical applications. Methods covered include randomized experiments as well as techniques to estimate impacts using observational data sources common in health, education and development settings.
Prerequisite: ST 352 with C- or better or AEC 446 with C- or better or ECON 424 with C- or better
Available via Ecampus
AEC 456, SUSTAINABLE AGRICULTURAL DEVELOPMENT, 3 Credits
Provides a non-technical, accessible primer on sustainable agricultural development and its relationship to sustainable development. Uses economic principles and tradeoff analysis to evaluate the sustainability of agricultural development pathways at the global and national scales, and agricultural systems at the agroecosystem and farm-household scales. Reviews the sustainability challenges facing agriculture in the developing, transitional and industrialized worlds. Examines demand-side and supply-side strategies and policies to improve agricultural sustainability, including product certification and labeling, investment in private and public R&D, and farm-level taxes and subsidies.
Recommended: AEC 311 or ECON 311; analytical, critical thinking, and problem-solving skills
Available via Ecampus
AEC 461, ^AGRICULTURAL AND FOOD POLICY ISSUES, 4 Credits
Principles of agricultural and food policy formulation; agricultural price and income policies in relation to land use, water, and food policies; interrelationships among U.S. and foreign agriculture and trade policies.
Attributes: CSWC – Core Ed - Writing Intensive Curriculum (WIC); CWIC – Bacc Core, Skills, Writing Intensive Curriculum (WIC)
Prerequisite: AEC 311 with D- or better or ECON 311 with D- or better
AEC 465, AGRICULTURAL AND FOOD FINANCIAL MANAGEMENT, 4 Credits
Explores fundamental financial concepts in the context of agriculture and food businesses, including analysis of financial ratios, the use of leverage, compounding and discounting, capital budgeting, and risk management. Emphasizes the application of these concepts and tools to management decisions.
Prerequisite: AEC 211 with D- or better and (BA 211 [D-] or BA 211H [D-] or BA 211Z [D-] or BA 211HZ [D-] or BA 315 [D-])
AEC 466, AGRICULTURAL AND FOOD MARKETING MANAGEMENT, 4 Credits
Principles, trends, issues, barriers, policies, strategies and decisions involved in domestic and international marketing of perishable and storable agricultural commodities and food products from the point of production to the point of consumption. Topics include firm-level marketing concepts, the integration of marketing with firms’ overall strategic management goals, as well as comparative studies across multiple outlets for agricultural and food products, to include local, regional, and global markets.
Prerequisite: AEC 221 with D- or better and (AEC 250 [D-] or AEC 250H [D-] or AEC 251 [D-] or ECON 201 [D-] or ECON 201H [D-])
AEC 499, SPECIAL TOPICS, 1-16 Credits
Various topics in agricultural and resource economics of special and current interest not covered in other courses.
Equivalent to: AREC 499
This course is repeatable for 16 credits.
AEC 501, RESEARCH AND SCHOLARSHIP, 1-16 Credits
Equivalent to: AREC 501
This course is repeatable for 16 credits.
AEC 502, INDEPENDENT STUDY, 1-16 Credits
This course is repeatable for 16 credits.
AEC 503, THESIS, 1-16 Credits
Equivalent to: AREC 503
This course is repeatable for 999 credits.
AEC 505, READING AND CONFERENCE, 1-16 Credits
Equivalent to: AREC 505
This course is repeatable for 16 credits.
AEC 506, SPECIAL PROJECTS, 1-16 Credits
This course is repeatable for 16 credits.
AEC 507, SEMINAR, 1-16 Credits
Equivalent to: AREC 507
This course is repeatable for 16 credits.
AEC 508, WORKSHOP, 1-16 Credits
Equivalent to: AREC 508
This course is repeatable for 16 credits.
AEC 511, INTRODUCTION TO FOOD SYSTEMS: LOCAL TO GLOBAL, 3 Credits
Critically examines the operation and outcomes of food systems using a systems thinking framework to analyze food supply chains, including inputs such as natural processes, technology, labor, education and public policy. Emphasizes the causal connections between food system activities and how they give rise to a wide range of environmental and social challenges, from climate change to food insecurity. Evaluates and recommends public and private policy to improve food system outcomes. Emphasizes analysis based on scale, historical changes, social and cultural perspectives, and emerging alternative food system practices including organic production.
Equivalent to: AGRI 511
Available via Ecampus
AEC 512, MICROECONOMIC THEORY I, 4 Credits
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.
Recommended: MTH 252
AEC 513, MICROECONOMIC THEORY II, 4 Credits
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.
Prerequisite: AEC 512 with C or better
AEC 516, BEHAVIORAL AND EXPERIMENTAL ECONOMICS, 3 Credits
Introduces the concepts of behavioral economics, which tackles situations that are inconsistent with the standard rational behavior model on both individual and market level, and experimental methods, which focuses on controlled identification, illustration and study of various socio-economics principles and market mechanisms. Demonstrates how concepts and tools can be used in a variety of settings, including provision of environmental services, health and social policy design, marketing and product design. Consists of a theoretical component, based on current readings and guest lectures by researchers in the field, and a practical component, focused on evaluation, design and creation of research.
Equivalent to: AEC 616
AEC 521, ECONOMICS OF RURAL POVERTY AND THE U.S. SOCIAL SAFETY NET, 4 Credits
Introduces students to 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. The course focuses on the geography of the social safety net, the operation and administration of the safety net, and how recent changes in the social safety net may have disadvantaged rural people and places.
Equivalent to: RS 521
Available via Ecampus
AEC 525, APPLIED ECONOMETRICS, 4 Credits
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.
AEC 532, ENVIRONMENTAL LAW, 4 Credits
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.
Available via Ecampus
AEC 534, ENVIRONMENTAL AND RESOURCE ECONOMICS, 3 Credits
Environmental problems and misuse of natural resources are caused by humans’ behavior, and thus must be solved by changing behavior. Explores the ways economics is central to understanding the incentive behind the causes, consequences, and potential for effective solutions to environmental and resource problems involving air, water, fish, forests, climate change, and biodiversity. Builds on microeconomics principles to include theories of market failures, externalities, common-pool resources, and institutions, as well as growth and sustainability. Equips students with tools for non-market valuation and for critical evaluation of environmental policies’ benefits and costs.
Recommended: AEC 311
Available via Ecampus
AEC 540, THE ECONOMICS OF BUSINESS ORGANIZATION IN THE FOOD SYSTEM, 4 Credits
Application of economic analysis to questions related to the choice of an appropriate form of business organization for a wide variety of food system enterprises. Topics include costs of contracting, costs of ownership, enterprise scope and scale, and the dynamics of business ownership and structure. Particular emphasis is given to entrepreneurial enterprises and cooperative businesses in the food system.
AEC 544, COMMODITY FUTURES AND OPTIONS MARKETS, 4 Credits
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.
Available via Ecampus
AEC 546, INTRODUCTION TO APPLIED ECONOMETRICS, 4 Credits
Introduces students to applied econometrics: the use of statistical techniques to estimate and test economic relationships. Topics include multiple regression models, multicollinearity, and simultaneous equations. The applications and labs will focus on econometric analysis of real world problems pertaining to issues in environmental, food, and resource economics and policy.
Recommended: AEC 311 and ST 351
Available via Ecampus
AEC 548, ADVANCED TOPICS IN ENVIRONMENTAL AND RESOURCE ECONOMICS, 3 Credits
Reviews core concepts of economic efficiency and market failures and then focuses on the economics of environmental regulation. Develops an appreciation for the structure of key concepts that underlie the economic approach to environmental issues and applications to policy and regulations. Builds skills in assessing regulatory policies from the perspective of economics.
AEC 550, ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS, 4 Credits
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.
Prerequisite: AEC 512 with C or better
AEC 551, APPLICATIONS OF ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS, 4 Credits
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.
Prerequisite: AEC 550 with C or better
AEC 555, PROGRAM EVALUATION, 3 Credits
Explores the leading methods for evaluating the impact of public programs and policies, specifically focusing on causal inference and empirical applications. Methods covered include randomized experiments as well as techniques to estimate impacts using observational data sources common in health, education and development settings.
Prerequisite: ECON 524 with C- or better or PPOL 522 with C- or better
Available via Ecampus
AEC 556, SUSTAINABLE AGRICULTURAL DEVELOPMENT, 3 Credits
Provides a non-technical, accessible primer on sustainable agricultural development and its relationship to sustainable development. Uses economic principles and tradeoff analysis to evaluate the sustainability of agricultural development pathways at the global and national scales, and agricultural systems at the agroecosystem and farm-household scales. Reviews the sustainability challenges facing agriculture in the developing, transitional and industrialized worlds. Examines demand-side and supply-side strategies and policies to improve agricultural sustainability, including product certification and labeling, investment in private and public R&D, and farm-level taxes and subsidies.
Recommended: AEC 311 or ECON 311
Available via Ecampus
AEC 565, AGRICULTURAL AND FOOD FINANCIAL MANAGEMENT, 4 Credits
Explores fundamental financial concepts in the context of agriculture and food businesses, including analysis of financial ratios, the use of leverage, compounding and discounting, capital budgeting, and risk management. Emphasizes the application of these concepts and tools to management decisions.
AEC 566, AGRICULTURAL AND FOOD MARKETING MANAGEMENT, 4 Credits
Principles, trends, issues, barriers, policies, strategies and decisions involved in domestic and international marketing of perishable and storable agricultural commodities and food products from the point of production to the point of consumption. Topics include firm-level marketing concepts, the integration of marketing with firms’ overall strategic management goals, as well as comparative studies across multiple outlets for agricultural and food products, to include local, regional, and global markets.
AEC 599, SPECIAL TOPICS, 0-16 Credits
Various topics in applied economics of special and current not covered in other courses. May be repeated for credit when topics differ.
Equivalent to: AREC 599
This course is repeatable for 16 credits.
AEC 601, RESEARCH AND SCHOLARSHIP, 1-16 Credits
Equivalent to: AREC 601
This course is repeatable for 16 credits.
AEC 602, INDEPENDENT STUDY, 1-16 Credits
Equivalent to: AREC 605
This course is repeatable for 16 credits.
AEC 603, THESIS, 1-16 Credits
Equivalent to: AREC 603
This course is repeatable for 999 credits.
AEC 605, READING AND CONFERENCE, 1-16 Credits
Equivalent to: AREC 605
This course is repeatable for 16 credits.
AEC 606, SPECIAL PROJECTS, 1-16 Credits
This course is repeatable for 16 credits.
AEC 607, SEMINAR, 1-16 Credits
Equivalent to: AREC 607
This course is repeatable for 16 credits.
AEC 608, WORKSHOP, 1-16 Credits
Equivalent to: AREC 608
This course is repeatable for 16 credits.
AEC 611, ADVANCED MICROECONOMIC THEORY I, 4 Credits
A rigorous development of the theory of consumption and production, with emphasis on duality.
Prerequisite: AEC 512 with C or better and AEC 513 [C]
Recommended: MTH 254
AEC 612, ADVANCED MICROECONOMIC THEORY II, 4 Credits
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.
Prerequisite: AEC 611 with C or better
AEC 616, BEHAVIORAL AND EXPERIMENTAL ECONOMICS, 3 Credits
Introduces the concepts of behavioral economics, which tackles situations that are inconsistent with the standard rational behavior model on both individual and market level, and experimental methods, which focuses on controlled identification, illustration and study of various socio-economics principles and market mechanisms. Demonstrates how concepts and tools can be used in a variety of settings, including provision of environmental services, health and social policy design, marketing and product design. Consists of a theoretical component, based on current readings and guest lectures by researchers in the field, and a practical component, focused on evaluation, design and creation of research.
Equivalent to: AEC 516
AEC 624, ADVANCED ECONOMETRICS I, 4 Credits
Emphasizes the basic theory underlying the main types of estimators used in econometrics, as well as their application in empirical research. Topics including derivation, properties, and application of method of moments, maximum likelihood, ordinary and generalized least squares, and instrumental variables estimators, statistical inference and hypothesis testing, and model building and specification analysis. Provides the necessary foundation for estimation techniques covered in AEC 625 and AEC 626.
Recommended: MS-level econometrics
AEC 625, ADVANCED ECONOMETRICS II, 4 Credits
Explores estimation techniques used in modern applied economic analysis, with an emphasis on research design. Topics include regression discontinuity design, linear panel data models, difference-in-differences, matching, synthetic control, systems estimation, and inference.
Prerequisite: AEC 624 with C or better
AEC 626, ADVANCED ECONOMETRICS III, 4 Credits
Develops non-linear econometric methods and applications, including M-estimators, non- linear least-squares, discrete choice, limited dependent variables, quantile regression, and machine learning. Focuses on an applied orientation, emphasizing problems of data measurement, model selection, and model specification encountered in practical applications of econometrics.
Prerequisite: AEC 625 with C or better
AEC 627, COMPUTATIONAL ECONOMICS, 4 Credits
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.
AEC 640, SUSTAINABLE DEVELOPMENT, 3 Credits
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.
Prerequisite: AEC 611 with D- or better and AEC 612 [D-] and AEC 625 [D-]
AEC 643, ADVANCED TOPICS IN DEVELOPMENT ECONOMICS, 3 Credits
Introduces students to key issues in the economics of development along with the quantitative methods required to conduct advanced research in these topics. Topics include: the measurement of poverty and inequality, the analysis of health and education policies, the role of land, labor, credit and insurance markets in economic development, technology adoption, agrarian contracts, gender issues, and the political economy of development.
AEC 651, ADVANCED NATURAL RESOURCE ECONOMICS, 3 Credits
Contemporary economic theory of dynamic natural resource allocation is introduced. Assignments focus on analytical and numerical methods for solving dynamic optimization problems in resource and environmental management. Lecture and readings emphasize current research trends in the field and relevant advances in quantitative methodology.
Prerequisite: AEC 611 with C or better
AEC 652, ADVANCED ENVIRONMENTAL ECONOMICS, 3 Credits
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.
AEC 653, EMPIRICAL ENVIRONMENTAL AND RESOURCE ECONOMICS, 3 Credits
Introduces empirical methods at the current frontiers of research in environmental and resource economics. General topics may include the identification of non-market values, revealed and stated preference methods, environmental policy evaluation, equilibrium sorting models, and climate econometrics.
AEC 699, SPECIAL TOPICS, 1-16 Credits
Various topics in applied economics of special and current interest not covered in other courses.
Equivalent to: AREC 699
This course is repeatable for 16 credits.