Ag Economics Graduate Courses

Agricultural and Applied Economics

Courses for Graduate Students

Hoke S. Hill , Chair

Major Degree

Agricultural and Applied Economics M.S.

Applied Economics Ph.D.

Major	Degree
Agricultural and Applied Economics	M.S.
Applied Economics	Ph.D.

Graduate work in agricultural and applied economics enables the student to attain a higher degree of specialized professional competence and to secure a greater mastery of techniques for applying quantitative economic analysis to agricultural and natural resource problems. Industry, government and universities offer challenging opportunities in research, development, education, management and other related areas for persons with advanced training. Special emphasis in the graduate program is placed on the economics of agricultural production and marketing, economic development, analysis of government programs and policies and statistical techniques used in solving economic and institutional problems. Flexibility is achieved through choice of elective courses and selection of an M.S. thesis or Ph.D. dissertation topic. There is no language requirement for either the M.S. or Ph.D. degree.

The Ph.D. program is a cooperative effort between the Department of Agricultural and Applied Economics and the Department of Economics (College of Business and Behavioral Science). The Department of Economics is responsible administratively for the Ph.D. program, and the degree is awarded by the College of Business and Behavioral Science.

In addition to applicants with baccalaurate degrees in agricultural economics and related programs, the department encourages applications from students who have a sound background in general economics. In many cases, such students may be admitted to full graduate status without prerequisites other than those required of all graduate students.

You can get more information (syllabi, readings, etc) about many courses--just follow the links.

AP EC 602 PRODUCTION ECONOMICS
3 cr. (3 and 0)F
Economic analysis of agricultural production involving the concept of the farm as a firm, principles for decision making, the quantitative nature and use of production and cost functions and their interrelations and application of these principles to resource allocation in farms and among areas.

LAND ECONOMICS
3 cr. (3 and 0) S
Study of the characteristics of land and of the physical, legal, social, and economic principles and problems relating to the control and use of land resources.

AP EC 609 COMMODITY FUTURES MARKETS
3 cr. (3 and 0) F, S
Introduction to the economic theory, organization, and operating principles of agricultural commodity futures markets in the U.S. Emphasis is placed on speculating, hedging, and investing in agricultural commodity futures contracts from the standpoint of the agribusiness entrepreneur.

AP EC 611

(CRD 611)
REGIONAL IMPACT ANALYSIS
2 cr. (2 and 0)F
Techniques for analysis of the growth and decline of regions including economic-base theory, shift share, regional input-output, regional econometric models, and fixed impact models.

AP EC 612
(CRD 612) SPATIAL COMPETITION & RURAL DEVELOPMENT
3 cr. (3 and0) S
Development of rural economic activity in the context of historical, theoretical, and policy aspects of friction associated with spatial separation. Location factors, transfer costs, location patterns, and regional growth policy are considered.

AP EC 613 ADVANCED REAL ESTATE APPRAISAL
3 cr. (3 and 0) S
Topics covered include highest and best use analysis, data collection, and analyses. Advanced appraisal procedures for income, cost and comparable sales approach to real estate valuation will be stressed. Eminent domain, the appraisal of property in transition, and specialized property will be covered.

AP EC 620 WORLD AGRICULTURAL TRADE
3 cr. (3 and 0) S
Practical considerations of agricultural trade and trade policy analysis are reviewed. The role of international institutions is considered. Special emphasis is placed on concepts of agricultural trade, analysis of trade policies of major trading partners/competitors, and export/import marketing of products.

AP EC 625 AQUACULTURE ECONOMICS
3 cr. (3 and 0)F (alternate years)
Application of economics and business principles by firms engaged in fish farming. Basic microeconomic theory is reviewed and applied to aquacultural enterprises. Stress is given to financial management, investment analysis, and marketing management. Public policy affecting aquaculture is also discussed and international aquaculture development reviewed.

AP EC 626
(AGRON 626) CROPPING SYSTEMS ANALYSIS
3 cr. (2 and 2) F
Application of agronomic and economic principles in solving problems relating to the production and marketing of agronomic crops. A major part of the course will be a case study in which a detailed analysis of a farm, agribusiness or environmental situation will be made with students making formal written and oral presentations of results.

AP EC 633 AGRICULTURAL LAW & RELATED ENVIRONMENTAL ISSUES
3 cr. (3 and 0) S
Introduction to agricultural and agricultural-related environmental legal issues. Topics include a review of laws, agencies, programs, court structure, torts, taxation, biotechnology, land and water use, regulated industry and environmental liabilities as they relate to agriculture and natural resources.

AP EC 652 AGRICULTURAL POLICY
3 cr. (3 and0) S
Review of public agricultural policy programs in the United States and a critical examination of current and proposed government policies and programs affecting the agriculturall sector of the economy. Included are economic considerations as related to past and current farm price and income problems.

AP EC 656 PRICES
3 cr. (3 and 0) S
Review of the basic theory of price under competitive conditions and various modifications; nature, measurement and causes of daily, seasonal and cyclical price fluctuations; geographical price relationships; nature , function and behavior of futures markets; government price programs.

AP EC 660 AGRICULTURAL FINANCE
3 cr. (3 and 0)S
The study of the principles and technique of financing in the agricultural sector. Topics include the capital situation in agriculture, concepts of farm financial management, use of credit, capital markets, lending agencies, and estate planning.

AP EC 675 ECONOMICS OF WILDLIFE MANAGEMENT & POLICY
3 cr. (3 and 0)
Integrated approach to the study of the economics of wildlife. Topics include determination of market and nonmarket value, single and multiple species management, enterprise cost and returns, marketing wildlife, leasing methods, complementary and competiveness with agricultural and forestry enterprises and timber and crop damage cost estimates and control.

AP EC 719 PROFESSIONAL PROBLEMS IN AGRIBUSINESS MANAGEMENT
3 cr. (3 and 0) F
Concepts and principles of agribusiness firm management; decision theory, information systems, systems analysis and organization theory applied to the organization, administration and management of agriculturally related businesses.

AP EC 800
ECON 800 HISTORY OF ECONOMIC THOUGHT
3 cr. (3 and 0)
Development of economic thought from early Greek to Keynesian economics; writings of major economists such as Smith, Ricardo, Marx, Marshall and Keynes; development of major economic theories.

AP EC 801
ECON 801 MICROECONOMIC THEORY
3 cr. (3 and 0)F
Microeconomic theory and its use to analyze and predict the behavior of industries, firms and consumers under various market conditions.

AP EC 802
ECON 802 ADVANCED ECONOMIC CONCEPTS AND APPLICATIONS
3 cr. (3 and 0)
Rigorous development of price theory under alternative product and resource market structures.

AP EC 804
ECON 804 APPLIED MATHEMATICAL ECONOMICS
3 cr. (3 and 0)
Mathematical tools needed in economic analysis. Topics include matrix algebra, differentialtion, unconstained and constrained optimization, integration and linear programming.

AP EC 806
(ECON 806) ECONOMETRICS I
3 cr. (3 and 0)
Application of econometric techniques and stochastic models to economic problems. Topics include distribution theory, simple and multiple regression modeling, hypothesis testing and other issues in regression analysis.

AP EC 807
(ECON 807)
(MA SC 807) ECONOMETRICS II
3 cr. (3 and 0) F
Economic models expressed as systems of equations; problems of identification, parameter estimation, measurement errors and statistical inference; techniques of simulation, forecasting, model validation and interpretation.

AP EC 808
(ECON 808)
(MA SC 808) ECONOMETRICS III
3 cr. (3 and 0) S
Contintuation of ECON 807; current economic models and estimation procedures.

AP EC 809
(ECON 809) ADVANCED NATURAL RESOURCE ECONOMICS
3 cr. (3 and 0) S
Applications of economic theory to problems of natural resource management: epistemological considerations; rent theory; public and private investment criteria; benefit-cost analysis and general equilibrium management models. Prerequisite: AP EC 802 or permission of instructor.

AP EC 810
(ECON 810) NATURAL RESOURCES MANAGEMENT & POLICY
3 cr. (3 and 0) F
Economic, institutional and legal aspects of control and management of natural resources; concepts of economic science applied to public policy questions related to land and water resources. Specialized background in economics not necessary. Prerequisite:Permission of instructor.

AP EC 811
(ECON 811) ECONOMICS OF ENVIRONMENTAL QUALITY
3 cr. (3 and 0) F even numbered years
Pricing and distribution emphasizing effects upon economic welfare; goods allocated by government purchase for joint consumption and those distributed by rationing; alternate plans for allocating public goods. Prerequisite: ECON 314 or equivalent.

AP EC 816
(ECON 816) LABOR ECONOMICS
3 cr. (3 and 0)
Wage and employment theory; labor markets; labor history; current problems in labor and manpower economics.

AP EC 817
(ECON 817) ADVANCED PRODUCTION ECONOMICS
3 cr. (3 and 0) S
Production economics theory is a quantitative framework; technical and economic factor-product, factor-factor and product-product relationships in single- and multiproduct firms in conditions of perfect and imperfect competition in both factor and product markets. Prerequisite: AP EC 804 or permission of instructor.

AP EC 820
(ECON 820) PUBLIC FINANCE
3 cr. (3 and 0)
Impact of government on resource allocation, income distribution and stability; role of regulation; principles of taxation.

AP EC 821
(ECON 821) PUBLIC CHOICE
3 cr. (3 and 0)
Economic theory to analyze collective decisions. Topics include the pure theory of collective choice and applied analyses of democratic governments and their policy processes.

AP EC 822 CONTEMPORARY PUBLIC POLICY
3 cr. (3 and 0)S
Contemporary public policy, including price and resource policy, affecting rural areas; public participation, or lack thereof, related to progams designed to implement public policy.

AP EC 824
(ECON 824) ORGANIZATION OF INDUSTRY
3 cr. (3 and 0)
The structure of markets and firms; forces that determine the size of firms and the boundaries of markets; emphasis on the behavior of firms, both singly and in concert, to exploit market positions.

AP EC 826
(ECON 826) ECONOMIC THEORY OF GOVERNMENT REGULATION
3 cr. (3 and 0)
The scope of governmental regulation in the economy of the United States, its evolution and development; emphasis on the application of the tools of economic analysis to the issues of regulated enterprise. Prerequisite: ECON 314 or its equivalent.

AP EC 827
(ECON 827) ECONOMICS OF PROPERTY RIGHTS
3 cr. (3 and 0)
Evolution and impact of various property rights institutions on individual behavior and the subsequent use of resources; particular attention given to the importance of property rights structures in the organization of business and in managerial decision making.

AP EC 828
(ECON 828) MARKET STRUCTURE IN AGRICULTURAL INDUSTRIES
3 cr. (3 and 0)
Market structure and other approaches related to agricultural marketing. Individual assignments in the student's field of interest required. Prerequisite: Permission of instructor

AP EC 831
(ECON 831) ECONOMIC DEVELOPMENT
3 cr. (3 and 0)
Economic analysis of development of urban areas within the system of cities; central place theory and general equilibrium models of interregional economic activity emphasizing central place systems, spatial interaction and stochastic processes; internal development of the city focusing on housing and land use patterns, transportation and urban form.

AP EC 832
(ECON 832) COMMUNITY AND REGIONAL ECONOMICS
3 cr. (3 and 0) F
Economic theory and research methods needed to understand happenings in the regional and community econbomy and how local and non-local decisions influence local economic change. Prerequisite: CRD 612 or permission of instructor

AP EC 840
(ECON 840) INTERNATIONAL TRADE THEORY
3 cr. (3 and 0)Theory of free trade from Ricardo to present; theory and application of optimal and second-best tarrifs; recent empirical testing of trade and tariff theory. Prerequisites: ECON 314 and 802 or permission of instructor.

AP EC 841
(ECON 841) INTERNATIONAL FINANCE
3 cr. (3 and 0)
Financial economics of decision making in a multinational environment featuring autonomous governments and multiple currencies. typical topics include examination of the macroeconomic problems of unemployment and inflation in an international economy, management of exchange rate risk, credit risk, political risk and taxation. Prerequisite: ECON 315 or equivalent.

AP EC 852 RESEARCH METHODS FOR AGRICULTURAL ECONOMISTS I
2 cr. (2 and 0) S
Linear models and their application to problems related to the economics of agriculture. Topics include the simplex method, developing farm planning LP models, solving LP problems using the MPSX computer program, parametric analysis techniques and other LP applications related to rural problems.

AP EC 855
(ECON 855) FINANCIAL ECONOMICS
3 cr. (3 and 0)
Modern theory of corporate finance; basic theories of efficient markets, portfolio selection, capital asset pricing, option pricing and agency costs. Prerequisite: ECON 801 or permission of instructor.

AP EC 881 INTERNSHIP IN COMMUNITY & RESOURCE DEVELOPMENT
1-6 cr.
Supervised employment in an agency dealing with socioeconomic aspects, community development and/or natural resource management: monthly reports covering student's experience required. Prerequisite:18 semester hours of graduate credit.

AP EC 888
(ECON 888) DIRECTED READINGS IN ECONOMICS
1-3 cr. (1-3 and 0)
Directed reading and research in the student's field of interest. May be repeated for up to three credit hours.

AP EC 891 MASTER'S THESIS RESEARCH
Credit to be arranged.

AP EC 899
(ECON 899) SELECTED TOPICS
1-3 cr.(1-3 and 0)F, S
Students study selected topics under guidance of a professor. Course may be repeated for a maximum of six credits.

AP EC 901
(ECON 901) PRICE THEORY
3 cr. (3 and 0)
Neoclassical paradigm of market price and quantity; rigorous consideration of consumer behavior, the theory of the firm and market equilibrium, production and resource demands, and the supply of resources. Prerequisite: ECON 801 or equivalent.

AP EC 903
(ECON 903) GENERAL EQUILIBRIUM AND WELFARE THEORY
3 cr. (3 and 0) S
The second of a two-course sequence of advanced price theory. The first part of this course is the development of the theory of general equilibrium and the economics of welfare: The second is the capital theoryl and the determination of the rate of interest. Prerequisite: AP EC 901.

AP EC 904
(ECON 904) SEMINAR IN RESOURCE ECONOMICS
3 cr. (3 and 0) F
Special problems and recent periodical literature relating to the control, management, development and use of land and water resources in the United States and in other parts of the world. Prerequisite: AP EC 403/603.

AP EC 905
(ECON 905) ADVANCED MACROECONOMIC ISSUES
3 cr. (3 and 0)
Current unsettled issues in macroeconomic analysis. Topics include disequilibrium macro models, macro models of open economies, rational expectations and its critics, government stabilization policies and the controversy surrounding the concept of Ricardian equivalence. Prerequisite: ECON 805 or equivalent.

AP EC 906
(ECON 906) SEMINAR IN AREA ECONOMIC DEVELOPMENT
3 cr. (3 and 0) S
Recent research developments in economic development; review of research publications, journal articles and other literature; objectives, analytical techniques and procedures used in area or regioanl development efforts. Prerequisite: AP EC 806.

AP EC 917
(ECON 917) ADVANCED SEMINAR IN LABOR ECONOMICS
3 cr. (3 and 0)
Follow-up to ECON 816, bridging the gap between theory and modern empirical research in labor economics; emphasis on reading recent empirical research papers to understand the techniques of modern research in labor economics. Prerequisite: ECON 816.

AP EC 950
(ECON 950) MONETARY ECONOMICS
3 cr. (3 and 0)
Economic analysis of money in our economy and effects of monetary policy on prices, interest rates, output and employment.

AP EC 991
(ECON 991) DOCTORAL DISSERTATION RESEARCH
Credit to be arranged.

CRD 611
(AP EC 611) REGIONAL IMPACT ANALYSIS
2 cr. (2 and 0) F
See description for AP EC 611

CRD 612
(AP EC 612) SPATIAL COMPETITION & RURAL DEVELOPMENT
3 cr. (3 and 0) S
See description for AP EC 612

R S 601
(SOC 601) HUMAN ECOLOGY
3 cr. (3 and 0) S

R S 659
(SOC 659) THE COMMUNITY
3 cr. (3 and 0) F

R S 671
(SOC 671) DEMOGRAPHY
3 cr. (3 and 0) F

R S 881 SPECIAL PROBLEMS IN RURAL SOCIAL RESEARCH
1-3 cr. (0 and 2-6)
Recent research problems and literature emphasizing research design, analysis, theoretical generalizations and application progams. May be repeated for a maximum of six credits. Prerequisite: Six semester hours of 600-level sociology or rural sociology courses or permission of instructor.

Top of Page Grad program index AE & S Home

Questions or comments to ereneke@clemson.edu.
2005 by the Department of Applied Economics & Statistics, Clemson University, Clemson, SC.

AP EC 602	PRODUCTION ECONOMICS 3 cr. (3 and 0)F Economic analysis of agricultural production involving the concept of the farm as a firm, principles for decision making, the quantitative nature and use of production and cost functions and their interrelations and application of these principles to resource allocation in farms and among areas.
	LAND ECONOMICS 3 cr. (3 and 0) S Study of the characteristics of land and of the physical, legal, social, and economic principles and problems relating to the control and use of land resources.
AP EC 609	COMMODITY FUTURES MARKETS 3 cr. (3 and 0) F, S Introduction to the economic theory, organization, and operating principles of agricultural commodity futures markets in the U.S. Emphasis is placed on speculating, hedging, and investing in agricultural commodity futures contracts from the standpoint of the agribusiness entrepreneur.
AP EC 611 (CRD 611)	REGIONAL IMPACT ANALYSIS 2 cr. (2 and 0)F Techniques for analysis of the growth and decline of regions including economic-base theory, shift share, regional input-output, regional econometric models, and fixed impact models.
AP EC 612 (CRD 612)	SPATIAL COMPETITION & RURAL DEVELOPMENT 3 cr. (3 and0) S Development of rural economic activity in the context of historical, theoretical, and policy aspects of friction associated with spatial separation. Location factors, transfer costs, location patterns, and regional growth policy are considered.
AP EC 613	ADVANCED REAL ESTATE APPRAISAL 3 cr. (3 and 0) S Topics covered include highest and best use analysis, data collection, and analyses. Advanced appraisal procedures for income, cost and comparable sales approach to real estate valuation will be stressed. Eminent domain, the appraisal of property in transition, and specialized property will be covered.
AP EC 620	WORLD AGRICULTURAL TRADE 3 cr. (3 and 0) S Practical considerations of agricultural trade and trade policy analysis are reviewed. The role of international institutions is considered. Special emphasis is placed on concepts of agricultural trade, analysis of trade policies of major trading partners/competitors, and export/import marketing of products.
AP EC 625	AQUACULTURE ECONOMICS 3 cr. (3 and 0)F (alternate years) Application of economics and business principles by firms engaged in fish farming. Basic microeconomic theory is reviewed and applied to aquacultural enterprises. Stress is given to financial management, investment analysis, and marketing management. Public policy affecting aquaculture is also discussed and international aquaculture development reviewed.
AP EC 626 (AGRON 626)	CROPPING SYSTEMS ANALYSIS 3 cr. (2 and 2) F Application of agronomic and economic principles in solving problems relating to the production and marketing of agronomic crops. A major part of the course will be a case study in which a detailed analysis of a farm, agribusiness or environmental situation will be made with students making formal written and oral presentations of results.
AP EC 633	AGRICULTURAL LAW & RELATED ENVIRONMENTAL ISSUES 3 cr. (3 and 0) S Introduction to agricultural and agricultural-related environmental legal issues. Topics include a review of laws, agencies, programs, court structure, torts, taxation, biotechnology, land and water use, regulated industry and environmental liabilities as they relate to agriculture and natural resources.
AP EC 652	AGRICULTURAL POLICY 3 cr. (3 and0) S Review of public agricultural policy programs in the United States and a critical examination of current and proposed government policies and programs affecting the agriculturall sector of the economy. Included are economic considerations as related to past and current farm price and income problems.
AP EC 656	PRICES 3 cr. (3 and 0) S Review of the basic theory of price under competitive conditions and various modifications; nature, measurement and causes of daily, seasonal and cyclical price fluctuations; geographical price relationships; nature , function and behavior of futures markets; government price programs.
AP EC 660	AGRICULTURAL FINANCE 3 cr. (3 and 0)S The study of the principles and technique of financing in the agricultural sector. Topics include the capital situation in agriculture, concepts of farm financial management, use of credit, capital markets, lending agencies, and estate planning.
AP EC 675	ECONOMICS OF WILDLIFE MANAGEMENT & POLICY 3 cr. (3 and 0) Integrated approach to the study of the economics of wildlife. Topics include determination of market and nonmarket value, single and multiple species management, enterprise cost and returns, marketing wildlife, leasing methods, complementary and competiveness with agricultural and forestry enterprises and timber and crop damage cost estimates and control.
AP EC 719	PROFESSIONAL PROBLEMS IN AGRIBUSINESS MANAGEMENT 3 cr. (3 and 0) F Concepts and principles of agribusiness firm management; decision theory, information systems, systems analysis and organization theory applied to the organization, administration and management of agriculturally related businesses.
AP EC 800 ECON 800	HISTORY OF ECONOMIC THOUGHT 3 cr. (3 and 0) Development of economic thought from early Greek to Keynesian economics; writings of major economists such as Smith, Ricardo, Marx, Marshall and Keynes; development of major economic theories.
AP EC 801 ECON 801	MICROECONOMIC THEORY 3 cr. (3 and 0)F Microeconomic theory and its use to analyze and predict the behavior of industries, firms and consumers under various market conditions.
AP EC 802 ECON 802	ADVANCED ECONOMIC CONCEPTS AND APPLICATIONS 3 cr. (3 and 0) Rigorous development of price theory under alternative product and resource market structures.
AP EC 804 ECON 804	APPLIED MATHEMATICAL ECONOMICS 3 cr. (3 and 0) Mathematical tools needed in economic analysis. Topics include matrix algebra, differentialtion, unconstained and constrained optimization, integration and linear programming.
AP EC 806 (ECON 806)	ECONOMETRICS I 3 cr. (3 and 0) Application of econometric techniques and stochastic models to economic problems. Topics include distribution theory, simple and multiple regression modeling, hypothesis testing and other issues in regression analysis.
AP EC 807 (ECON 807) (MA SC 807)	ECONOMETRICS II 3 cr. (3 and 0) F Economic models expressed as systems of equations; problems of identification, parameter estimation, measurement errors and statistical inference; techniques of simulation, forecasting, model validation and interpretation.
AP EC 808 (ECON 808) (MA SC 808)	ECONOMETRICS III 3 cr. (3 and 0) S Contintuation of ECON 807; current economic models and estimation procedures.
AP EC 809 (ECON 809)	ADVANCED NATURAL RESOURCE ECONOMICS 3 cr. (3 and 0) S Applications of economic theory to problems of natural resource management: epistemological considerations; rent theory; public and private investment criteria; benefit-cost analysis and general equilibrium management models. Prerequisite: AP EC 802 or permission of instructor.
AP EC 810 (ECON 810)	NATURAL RESOURCES MANAGEMENT & POLICY 3 cr. (3 and 0) F Economic, institutional and legal aspects of control and management of natural resources; concepts of economic science applied to public policy questions related to land and water resources. Specialized background in economics not necessary. Prerequisite:Permission of instructor.
AP EC 811 (ECON 811)	ECONOMICS OF ENVIRONMENTAL QUALITY 3 cr. (3 and 0) F even numbered years Pricing and distribution emphasizing effects upon economic welfare; goods allocated by government purchase for joint consumption and those distributed by rationing; alternate plans for allocating public goods. Prerequisite: ECON 314 or equivalent.
AP EC 816 (ECON 816)	LABOR ECONOMICS 3 cr. (3 and 0) Wage and employment theory; labor markets; labor history; current problems in labor and manpower economics.
AP EC 817 (ECON 817)	ADVANCED PRODUCTION ECONOMICS 3 cr. (3 and 0) S Production economics theory is a quantitative framework; technical and economic factor-product, factor-factor and product-product relationships in single- and multiproduct firms in conditions of perfect and imperfect competition in both factor and product markets. Prerequisite: AP EC 804 or permission of instructor.
AP EC 820 (ECON 820)	PUBLIC FINANCE 3 cr. (3 and 0) Impact of government on resource allocation, income distribution and stability; role of regulation; principles of taxation.
AP EC 821 (ECON 821)	PUBLIC CHOICE 3 cr. (3 and 0) Economic theory to analyze collective decisions. Topics include the pure theory of collective choice and applied analyses of democratic governments and their policy processes.
AP EC 822	CONTEMPORARY PUBLIC POLICY 3 cr. (3 and 0)S Contemporary public policy, including price and resource policy, affecting rural areas; public participation, or lack thereof, related to progams designed to implement public policy.
AP EC 824 (ECON 824)	ORGANIZATION OF INDUSTRY 3 cr. (3 and 0) The structure of markets and firms; forces that determine the size of firms and the boundaries of markets; emphasis on the behavior of firms, both singly and in concert, to exploit market positions.
AP EC 826 (ECON 826)	ECONOMIC THEORY OF GOVERNMENT REGULATION 3 cr. (3 and 0) The scope of governmental regulation in the economy of the United States, its evolution and development; emphasis on the application of the tools of economic analysis to the issues of regulated enterprise. Prerequisite: ECON 314 or its equivalent.
AP EC 827 (ECON 827)	ECONOMICS OF PROPERTY RIGHTS 3 cr. (3 and 0) Evolution and impact of various property rights institutions on individual behavior and the subsequent use of resources; particular attention given to the importance of property rights structures in the organization of business and in managerial decision making.
AP EC 828 (ECON 828)	MARKET STRUCTURE IN AGRICULTURAL INDUSTRIES 3 cr. (3 and 0) Market structure and other approaches related to agricultural marketing. Individual assignments in the student's field of interest required. Prerequisite: Permission of instructor
AP EC 831 (ECON 831)	ECONOMIC DEVELOPMENT 3 cr. (3 and 0) Economic analysis of development of urban areas within the system of cities; central place theory and general equilibrium models of interregional economic activity emphasizing central place systems, spatial interaction and stochastic processes; internal development of the city focusing on housing and land use patterns, transportation and urban form.
AP EC 832 (ECON 832)	COMMUNITY AND REGIONAL ECONOMICS 3 cr. (3 and 0) F Economic theory and research methods needed to understand happenings in the regional and community econbomy and how local and non-local decisions influence local economic change. Prerequisite: CRD 612 or permission of instructor
AP EC 840 (ECON 840)	INTERNATIONAL TRADE THEORY 3 cr. (3 and 0)Theory of free trade from Ricardo to present; theory and application of optimal and second-best tarrifs; recent empirical testing of trade and tariff theory. Prerequisites: ECON 314 and 802 or permission of instructor.
AP EC 841 (ECON 841)	INTERNATIONAL FINANCE 3 cr. (3 and 0) Financial economics of decision making in a multinational environment featuring autonomous governments and multiple currencies. typical topics include examination of the macroeconomic problems of unemployment and inflation in an international economy, management of exchange rate risk, credit risk, political risk and taxation. Prerequisite: ECON 315 or equivalent.
AP EC 852	RESEARCH METHODS FOR AGRICULTURAL ECONOMISTS I 2 cr. (2 and 0) S Linear models and their application to problems related to the economics of agriculture. Topics include the simplex method, developing farm planning LP models, solving LP problems using the MPSX computer program, parametric analysis techniques and other LP applications related to rural problems.
AP EC 855 (ECON 855)	FINANCIAL ECONOMICS 3 cr. (3 and 0) Modern theory of corporate finance; basic theories of efficient markets, portfolio selection, capital asset pricing, option pricing and agency costs. Prerequisite: ECON 801 or permission of instructor.
AP EC 881	INTERNSHIP IN COMMUNITY & RESOURCE DEVELOPMENT 1-6 cr. Supervised employment in an agency dealing with socioeconomic aspects, community development and/or natural resource management: monthly reports covering student's experience required. Prerequisite:18 semester hours of graduate credit.
AP EC 888 (ECON 888)	DIRECTED READINGS IN ECONOMICS 1-3 cr. (1-3 and 0) Directed reading and research in the student's field of interest. May be repeated for up to three credit hours.
AP EC 891	MASTER'S THESIS RESEARCH Credit to be arranged.
AP EC 899 (ECON 899)	SELECTED TOPICS 1-3 cr.(1-3 and 0)F, S Students study selected topics under guidance of a professor. Course may be repeated for a maximum of six credits.
AP EC 901 (ECON 901)	PRICE THEORY 3 cr. (3 and 0) Neoclassical paradigm of market price and quantity; rigorous consideration of consumer behavior, the theory of the firm and market equilibrium, production and resource demands, and the supply of resources. Prerequisite: ECON 801 or equivalent.
AP EC 903 (ECON 903)	GENERAL EQUILIBRIUM AND WELFARE THEORY 3 cr. (3 and 0) S The second of a two-course sequence of advanced price theory. The first part of this course is the development of the theory of general equilibrium and the economics of welfare: The second is the capital theoryl and the determination of the rate of interest. Prerequisite: AP EC 901.
AP EC 904 (ECON 904)	SEMINAR IN RESOURCE ECONOMICS 3 cr. (3 and 0) F Special problems and recent periodical literature relating to the control, management, development and use of land and water resources in the United States and in other parts of the world. Prerequisite: AP EC 403/603.
AP EC 905 (ECON 905)	ADVANCED MACROECONOMIC ISSUES 3 cr. (3 and 0) Current unsettled issues in macroeconomic analysis. Topics include disequilibrium macro models, macro models of open economies, rational expectations and its critics, government stabilization policies and the controversy surrounding the concept of Ricardian equivalence. Prerequisite: ECON 805 or equivalent.
AP EC 906 (ECON 906)	SEMINAR IN AREA ECONOMIC DEVELOPMENT 3 cr. (3 and 0) S Recent research developments in economic development; review of research publications, journal articles and other literature; objectives, analytical techniques and procedures used in area or regioanl development efforts. Prerequisite: AP EC 806.
AP EC 917 (ECON 917)	ADVANCED SEMINAR IN LABOR ECONOMICS 3 cr. (3 and 0) Follow-up to ECON 816, bridging the gap between theory and modern empirical research in labor economics; emphasis on reading recent empirical research papers to understand the techniques of modern research in labor economics. Prerequisite: ECON 816.
AP EC 950 (ECON 950)	MONETARY ECONOMICS 3 cr. (3 and 0) Economic analysis of money in our economy and effects of monetary policy on prices, interest rates, output and employment.
AP EC 991 (ECON 991)	DOCTORAL DISSERTATION RESEARCH Credit to be arranged.
CRD 611 (AP EC 611)	REGIONAL IMPACT ANALYSIS 2 cr. (2 and 0) F See description for AP EC 611
CRD 612 (AP EC 612)	SPATIAL COMPETITION & RURAL DEVELOPMENT 3 cr. (3 and 0) S See description for AP EC 612
R S 601 (SOC 601)	HUMAN ECOLOGY 3 cr. (3 and 0) S

R S 659 (SOC 659)	THE COMMUNITY 3 cr. (3 and 0) F
R S 671 (SOC 671)	DEMOGRAPHY 3 cr. (3 and 0) F
R S 881	SPECIAL PROBLEMS IN RURAL SOCIAL RESEARCH 1-3 cr. (0 and 2-6) Recent research problems and literature emphasizing research design, analysis, theoretical generalizations and application progams. May be repeated for a maximum of six credits. Prerequisite: Six semester hours of 600-level sociology or rural sociology courses or permission of instructor.

Agricultural and Applied Economics

Courses for Graduate Students

updated 7/01/05