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CONTENTS

School of Human Environmental Sciences

J. William Fulbright College of Arts and Sciences

Sam M. Walton College of Business

College of Education and Health Professions

School of Nursing

College of Engineering

School of Law

Reserve Officer Training Corps

University Faculty

Appendix A, Student Residence Status for Fee Purposes

Appendix B, Glossary

Course Descriptions

CATALOG OF STUDIES HOME

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NOTICE - This edition of the Catalog of Studies is provided as a courtesy to students who may be attending classes under these degree requirements. If you are a prospective student, or are attending class under a different set of degree requirements, please visit

http://catalogofstudies.uark.edu/

to find your class year catalog.

2003-2004 Catalog of Studies

(AGEC) AGRICULTURAL ECONOMICS AND AGRIBUSINESS

AGEC1103 Principles of Agricultural Microeconomics (FA, SP) Introduction to agricultural economics, including a survey of the role and characteristics of agriculture businesses in our economic system. Basic economic concepts concerning price determination, profit maximization, and resource use are emphasized. The use of economic principles as applied to the production and marketing decisions made by managers of agricultural firms is demonstrated. Pre- or Corequisite: MATH 1203.

AGEC2003 Introduction to Global Agricultural, Food and Life Sciences (FA) A cross-disciplinary approach focusing on global environmental resources, animal and crop production, food safety and nutrition, agricultural marketing and merchandising, trade, agricultural policies and culture. Topics also will include transportation, law and information systems in various geographic regions. Lecture 3 hours per week.

AGEC2103 Principles of Agriculture Macroeconomics (FA, SP) Applications of economics principles to problems of agricultural production, distribution, and income; including a study of the interrelationship between agriculture and other segments of the economy; and the dynamic forces in the economy that affect agriculture. Pre- or Corequisite: MATH 1203.

AGEC2303 Introduction to Agribusiness (FA, SP) Introduction to agribusiness issues as they relate to the food processing, wholesale and retail sectors of the agricultural industry. Coverage of methods and tools agribusiness managers use to evaluate business opportunities. Case studies serve to communicate concepts of product distribution, design, promotion and pricing in the development of a marketing plan. Prerequisite: AGEC 1103 or ECON 2023.

AGEC3303 Food and Agricultural Marketing (FA) Surveys consumer trends in food markets and the marketing activities of the food and fiber system. Emphasizes marketing concepts for both commodities and differentiated food products. Topics include applied consumer and price theory; marketing management; structure and performance of the food system; and current agricultural marketing topics. Prerequisite: MATH 1203 and (AGEC 1103 or ECON 2023).

AGEC3373 Futures and Options Markets (SP) Theory and mechanics of commodity futures and options markets including trading, margin, fees, etc. Price relationships between cash, futures and options. Fundamental and technical price analysis. Price risk management strategies for producers and users of agricultural commodity marketing plan. Speculative and hedging simulation exercises. Prerequisite: AGEC 1103 or ECON 2023.

AGEC3403 Farm Business Management (FA) Application of economic principles for the profitable organization and operation of the farm business. Focuses upon agricultural production management decision-making tools: optimal input/output decisions, budgeting techniques (enterprise, partial, whole-farm, cash flow), linear programming, balance sheet, income statement, investment analysis and risk management. Lecture 2 hours, laboratory 2 hours per week. ACCT 2013 and AGME 2903 or ISYS 1121L are recommended as prerequisites. Corequisite: AGEC 3400L. Prerequisite: AGEC 1103 or ECON 2023.

AGEC3400L Farm Business Management Laboratory (FA) Corequisite: AGEC 3403.

AGEC3413 Principles of Environmental Economics (FA) An introductory, issues-oriented course in the economics of the environment. What is involved in society making decisions about environmental quality will be studied. Environmental issues important to the State of Arkansas and the United States will be emphasized. Prerequisite: AGEC 1103 or ECON 2023.

AGEC3503 Agricultural Law I (SP) Examination of those areas of law especially applicable to agriculture. Fundamentals of contract law, torts law, and property law will accompany discussion of major areas of agricultural law; acquisition and disposal of farmland; farm tenancies; rights and limitations in the use and ownership of farmland; water law; environmental protection; protection of the productivity of agricultural land; and the law of sales and secured transactions in an agricultural context.

AGEC400V Special Problems (1-6) (FA, SP, SU) Special studies and readings conducted under the direct supervision of staff members to satisfy the requirements of individual students. May be repeated for 6 hours.

AGEC401V Internship in Agribusiness (1-6) (IR) A supervised practical work experience in an agribusiness firm or a governmental or industrial organization having direct impact on agriculture to gain professional competence and insight to employment opportunities. May be repeated for 8 hours. Prerequisite: junior standing.

AGEC402V Special Topics (1-3) (IR) Studies of selected topics in agricultural economics not available in other courses. May be repeated.

AGEC4113 Agricultural Prices and Forecasting (SP) Price theory and techniques for predicting price behavior of general economy and price behavior of individual agricultural products will be analyzed. Provides practice in the application of economics and statistics to agricultural price analysis. Lecture 2 hours, laboratory 2 hours per week. Prerequisite: AGEC 1103 (or ECON 2023) and ISYS 2013 (or AGST 4023 or STAT 2023) and MATH 2053 or MATH 2053 C (or MATH 2043) and ISYS 1121L.

AGEC4110L Agricultural Prices and Forecasting Laboratory (SP)

AGEC4143 Agricultural Finance (FA) Methods and procedures whereby agricultural firms acquire and utilize funds required for their successful operation. Emphasis is placed upon role of finance and financial planning and consideration is given to an understanding of financial firms serving agriculture. ACCT 2013 and ACCT 2023 are recommended. Prerequisite: AGEC 1103 (or ECON 2023) and AGEC 2103 (or ECON 2013).

AGEC4163 Agricultural and Rural Development (SU) Examination of agricultural and rural development issues in less developed countries. Alternative agricultural production systems are compared, development theories examined, and consideration given to the planning and implementation of development programs. Prerequisite: AGEC 1103 (or ECON 2023).

AGEC4303 Advanced Agricultural Marketing Management (SP) Marketing concepts will be developed and applied to the global food and fiber system. The course will use both commodity and product marketing principles and economic theory to analyze varied marketing situations. Case studies will be used to demonstrate role that demand analysis and consumer behavior play in market management. Prerequisite: AGEC 2303 and AGEC 3303.

AGEC4313 Agricultural Business Management (FA) The planning, organizing, leading and controlling functions of management as they relate to agricultural business firms. Marketing of value-added products, budgeting, organizational structure, cost control, financial statements, capital budgeting and employee supervision and motivation. Case studies are used to teach communication and decision-making skills. Prerequisite: senior standing. AGEC4373 Advanced Price Risk Management (SP) Use of futures markets as risk shifting institutions. Students design and implement hedging and cross hedging strategies for grain farmers, country elevators, soybean crushers, poultry firms, etc. Spreadsheets and statistical techniques are used to develop optimal hedging ratios. Prerequisite: AGEC 3373.

AGEC4403 Advanced Farm Business Management (SP) Principles and procedures of decision making as applied to the allocation of resources in the farm business for profit maximization. Emphasis is placed on use of principles of economics and their application to the decision making process. Includes exercises on the application of principles to specific farm management problems. Prerequisite: AGEC 3403 and AGME 2903 (or ISYS 1121L).

AGEC4413 Economics of Environmental Management (SP) An economic approach to problems of evaluating private and social benefits and costs of altering the environment. Emphasis given to the interaction of individuals, institutions, and technology in problems of establishing and maintaining an acceptable level of environmental quality. (Same as ENSC 4413) Prerequisite: AGEC 1103 and AGEC 3413.

AGEC4613 Domestic and International Agricultural Policy (FA) Agricultural and food policies studied from domestic and international perspectives. Examines public policy in terms of rationale, content, and consequences. Economic framework used to assess policies to improve competitive structure, operation, and performance of U.S. and international food and agriculture. Farm, international trade, resource, technology, food marketing, and consumer policies analyzed. Prerequisite: (AGEC 1103 or ECON 2023) and (AGEC 2103 or ECON 2013).

AGEC500V Special Problems (1-3) (FA, SP, SU) Individual reading and investigation of a special problem in agricultural economics not available under regular courses, under the supervision of the graduate faculty. Prerequisite: graduate standing.

AGEC5011 Seminar (FA, SP) Presentation and discussion of graduate student research. Formal presentations are made by all graduate students. Consideration given to research design, procedures, and presentation of results. Prerequisite: graduate standing.

AGEC502V Special Topics (1-3) (IR) Advanced studies of selected topics in agricultural economics not available in other courses. May be repeated. Prerequisite: graduate standing.

AGEC503V Internship in Agricultural Economics (1-6) (IR) On-the-job application of skills developed in the M.S. program (credit/non-credit only).

AGEC5113 Agricultural Marketing Analysis (SU) Course prepares students for some of the more common tasks in market analysis as undertaken by professional agricultural economists in industry, government, and academic institutions. Major emphasis is on the analytical procedures and techniques required in short- and long-term outlook work; forecasting and projecting supply, demand and prices; and optimal market organization. Prerequisite: AGEC 5303.

AGEC5143 Financial Management in Agriculture (IR) Covers advanced topics in agricultural finance. The general focus of the course is the financial management of non-corporate firms. Covers the basic tools of financial analysis including financial arithmetic, asset evaluation under risk, and financial analysis and planning using econometric models. Such topics covered include management of current assets, capital budgeting, capital structure, and institutions involved in agricultural finance. Prerequisite: graduate standing.

AGEC5153 The Economics of Agricultural Policy (SP) Application of welfare criteria and economic analyses to the problems and policies affecting resource adjustments in agriculture. Existing programs and alternative proposals are evaluated for both short and long term viewpoints, under the criterion of resource use and income distribution within agriculture or between agriculture and the rest of the economy. Prerequisite: graduate standing.

AGEC5303 Agricultural Marketing Theory (SP) Survey of the structure of agricultural product and factor markets including a critique of theoretical analyses of industry structure, conduct and performance; and a review of market structure research in agricultural industries. Prerequisite: graduate standing.

AGEC5403 Quantitative Methods for Agri-business (FA) Application of quantitative techniques used to support managerial decision-making and resource allocation in agricultural firms. Provides exposure to mathematical and statistical tools (regression analysis, mathematical programming, simulation) used in economic analysis in agriculture. Emphasis is placed on computer applications with conceptual linkage to economic theory. Prerequisite: graduate standing.

AGEC5413 Agribusiness Strategy (FA) Addresses problems of strategy formulation in agribusiness emphasizing current problems and cases in agriculture. Surveys modern and classic perspectives on strategy with applications to agribusiness. Examines the development of firm level strategies within the structure and competitive environment of agricultural firms and industries. Prerequisite: graduate standing.

AGEC5613 Econometrics I (FA) Use of economic theory and statistical methods to estimate economic models. The single equation model is examined emphasizing multicollinearity, autocorrelation, heteroskedasticity, binary variables and distributed lags. An introduction to the simultaneous systems model is presented. Two 80-minute lecture periods weekly. (Same as ECON 5613) Prerequisite: MATH 2043 and knowledge of matrix methods, which may be acquired as a corequisite and (AGEC 1103 or ECON 2023) and an introductory statistics course.

AGEC5623 Econometrics II (SP) Use of economic theory and statistical methods to estimate simultaneous equation models of an economy. Emphasis given to the problem of identification and the methods of estimating system models. Frontier topics are introduced. (Same as ECON 5623) Prerequisite: ECON 5533 and ECON 5613 (or AGEC 5613).

AGEC600V Master's Thesis (1-6) (FA, SP, SU) Prerequisite: graduate standing.

AGEC700V Doctoral Dissertation (1-6) (FA, SP, SU) Prerequisite: candidacy.

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