College of Agricultural
Sciences and Natural

Professor John R. Abernathy, Dean

Department of Agricultural and
Applied Economics

Professor Don Ethridge, Chairperson.

Thompson Professor Mathis; Professor Segarra; Associate Professors Elam and Ervin; Assistant Professors Johnson and Misra; Adjunct Faculty: M. Dean Ethridge and Harman.

This department offers study in the following graduate degree programs: AGRICULTURAL AND APPLIED ECONOMICS, Master of Science and Doctor of Philosophy. The department also participates in the interdepartmental program leading to the Master of Agriculture degree and cooperates with the College of Business Administration in a Master of Business Administration degree with a concentration in agricultural business management. This M.B.A. program is administered by the College of Business Administration.

Master's programs in Agricultural and Applied Economics require a minimum of 30 hours of graduate credit for the M.S. thesis option or 36 hours for the M.S. nonthesis option and for the Master of Agriculture degree. A student seeking an M.S. degree in Agricultural and Applied Economics may choose courses to emphasize agribusiness management and agricultural finance or international agricultural trade and development. Each candidate in the M.S. option is expected to demonstrate competency by satisfactorily completing a comprehensive written examination.

The doctoral program in Agricultural and Applied Economics is designed to develop competence in advanced economic theory, techniques of quantitative analysis, and public administration of economic and agricultural issues. The program has been designed to take advantage of the strengths of the Department of Agricultural and Applied Economics and the supporting disciplines of economics, mathematics, statistics, business administration, political science (public administration), sociology, and the other agricultural sciences. A program with different emphases in the supporting areas is possible with the approval of the departmental graduate committee. Each candidate is expected to demonstrate competency by satisfactorily completing a comprehensive written examination in each specialty field chosen, a dissertation demonstrating original independent scholarly research, and a final oral examination.

Before being recommended for admission to a degree program with a major in Agricultural and Applied Economics, the student may be required to take (without graduate credit) undergraduate leveling courses as specified by the department.

The School of Law and the Graduate School of Texas Tech University offer a joint degree program that allows students to complete the requirements for the Master of Science degree in Agricultural and Applied Economics and the Doctor of Jurisprudence degree. This joint program can be completed one year quicker than when each is pursued separately. The M.S. component is administered by the Department of Agricultural and Applied Economics on behalf of the Graduate School, while the J.D. component is administered by the School of Law.

The joint degree program is of particular benefit to students who are interested in practicing law in an agricultural setting or who want to pursue certain types of careers in agricultural finance. Students must be admitted to both programs but the LSAT test will suffice for both applications.

Courses in Agricultural and Applied Economics. (AAEC)

5100. Seminar (1:1:0). Current agricultural economic problems. F, S.

5301. Special Study in Agricultural Economics (3). Individual and group study in advanced topics in agricultural economics not treated in other graduate courses. May be repeated for credit. F, S, SS.

5302. Agriculture and Public Policy (3:3:0). Prerequisite: AAEC 3315. Development, analysis of public, policies affecting agriculture; commodity programs, environmental laws, trade policy. Not open to students with AAEC 4305 or equivalent. F, SS.

5303. Advanced Production Economics (3:3:0). Prerequisite: AAEC 3316 or equivalent. Criteria of resource efficiency; inter-industry relationships; uncertainty and expectations; location and timing of production and technological changes. F.

5307. Advanced Statistical Methods in Economic Research (3:3:0). Prerequisite: AAEC 3401 and 4312. Advanced statistical methods including multiple regression analysis for applied economic problems; emphasis on multicollinearity, autocorrelation, heteroscedasticity, related problems. F.

5308. Advanced Natural Resource Economics (3:3:0). Prerequisite: AAEC 4313 or consent of instructor. Economic theory, empirical investigation of resource utilization in agriculture with special emphasis on arid-semiarid land areas and environmental issues. S.

5309. International Agricultural Development (3:3:0). Prerequisite: AAEC 3315 or consent of instructor. World food and development issues; economic development of the agricultural sector in advanced and developing nations. F.

5310. Advanced Agricultural Marketing (3:3:0). Prerequisite: AAEC 3315 or equivalent. Economic principles and quantitative analytical procedures applied to the marketing and distribution of agricultural products with emphasis on fundamental demand relationships relating to storage and inventory control; transportation and intermarket distribution; grades and quality control; product differentiation and price discrimination; location of processing facilities; and marketing programs. S.

5311. Applied Econometric Methods (3:3:0). Prerequisite: AAEC 5307. Methods and applications of single and multi-equation models in agricultural economics; logit and probit models, nonstructural models and related methods. S.

5312. Agribusiness Analysis (3:3:0). Prerequisite: AAEC 3315 or equivalent. Application of economic theory and methodology to the management problems of the agricultural business firm. F.

5313. Microcomputer Applications in Agriculture (3:2:2). Use of microcomputers, software, and design of software for agricultural business and research purposes. Programming in BASIC, use of database systems and telecommunications. S, SS.

5315. Agricultural Property Appraisal (3:3:0). Factors governing land prices, valuation. Appraisal for use, sale, lending, condemnation, estate, settlement, taxation. Not open to students with AAEC 4303 or equivalent. F.

5317. Financial and Agricultural Futures and Options (3:3:0). Mechanics of futures trading, history and functions of futures market. Role of futures and options markets in managing agricultural and financial risks. F, S, SS.

5318. Finance and the Agricultural Sector (3:3:0). Prerequisite: FIN 5320. Financial aspects of public policy toward agribusiness. Monetary and fiscal policy effects on the farm sector, forecasts and projections of farm capital and credit needs. S.

5320. Agricultural Law (3:3:0). Federal regulatory programs, market orders, bankruptcy. Administrative, environmental, antitrust law, Uniform Commercial Code in agricultural context. Not open to students with AAEC 4320 or equivalent. F, SS.

5321. Research Methodology in Economics (3:3:0). Review of philosophical and conceptual basis of economic research and study of the procedural aspects of designing, planning, and conducting research in economics. S.

6000. Master's Thesis (V1-6).

6301. Master's Report (3).

6302. Food, Agriculture, and Natural Resource Policy Analysis (3:3:0). Prerequisite: AAEC 4305, 5302, or equivalent. Analysis of policies, programs affecting food, agricultural commodities, trade, and natural resources. Includes policies in the U.S. and other countries. F.

6305. Dynamic Economic Optimization (3:3:0). Prerequisite: AAEC 5303, ISQS 5342. Development, use of mathematical economic models emphasizing nonlinear dynamic processes applicable to agricultural and natural resource issues. S.

6310. Demand and Price Analysis (3:3:0). Prerequisite: AAEC 5310, 5307 or approval. Applied price and demand analysis including complete demand systems and hedonic-characteristic price analysis for agricultural and other products. F.

7000. Research (V1-12).

7200. Teaching Practicum (2:3:0). Prerequisite: Doctoral student in the program and previous or concurrent enrollment in a higher education teaching methods course. Supervised teaching at the university level.

8000. Doctor's Dissertation (V1-12).

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