The department cooperates with the Rawls College of Business in a Master of Business Administration degree with a concentration in agricultural business management. This M.B.A. program is administered by the Rawls College of Business.
Agricultural and applied economics applies economic methods to contemporary problems in production, distribution, and consumption of commodities and resources. This field is concerned with decision making in the public sector and in firms that provide materials and services, credit, processing, marketing and distribution of products, as well as analysis of economic behavior in the food and fiber industries, including the effects of government policies.
The major objective of the department is to teach students to think analytically and base decisions on economic principles. Students develop skills in economics, mathematics, statistics, and communication. Training in policy, price analysis, and marketing is also provided. The department prepares graduates to manage business and financial firms, farms, ranches, and related organizations and direct land and property development and real estate activities.
The Bachelor of Science degree in agricultural and applied economics provides a strong foundation in economics and mathematics and emphasizes writing and communication skills. There is enough flexibility in the program to allow students to earn a minor in areas such as general business and personal financial planning. Minors are also available in other departments in the College of Agricultural Sciences and Natural Resources as well as in economics and other fields. The department offers a Bachelor of Science in Agribusiness. This degree program combines the core courses in agricultural and applied economics with those in business administration to provide a strong foundation for careers in businesses related to agriculture. In addition, a dual degree is offered in combination with the Rawls College of Business. This program leads to a B.S. in agricultural and applied economics and a B.B.A. in general business. Students may also prepare to study toward advanced degrees in economics, law, business administration, and other related areas.
The department's programs also emphasize international economics, particularly with respect to trade in commodities. Students completing these plans of study will be better educated for the world economy of the future and will have opportunities for a wide range of careers. Local, regional, and national processing and marketing firms offer many applied economists their first positions. Others become self-employed business operators or managers. State Cooperative Extension Services, financial institutions, the United States Department of Agriculture, utility companies, and many state and government agencies also hire graduates.
The opportunity to participate in the Honors College is available to agricultural and applied economics students who demonstrate high academic achievement and are accepted into the Honors College. AAEC students wishing to earn an Honors College designation may take AGSC 4300 for honors credit. In addition, honors students may contract for honors credit with AAEC 4301. Admission criteria and other information about the Honors College can be found in the Honors College section of this catalog
The department offers a minor in agribusiness management for nondepartmental majors. The agribusiness minor consists of 18 hours of coursework, including AAEC 2305, 9 hours from 3000-level AAEC courses, and 6 hours from 4000-level AAEC courses. Students must satisfy course prerequisites before registering for courses.
Exceptional undergraduate agricultural and applied economics majors who wish to complete an ABM degree in a timely manner may apply for admission into one of three accelerated degree programs:
Admission to these programs allows students to count 6 dual hours of undergraduate coursework toward these degrees. Application should be made during the first semester of the junior year following procedures available from the graduate program coordinator in the department
The Master of Science in Agricultural and Applied Economics requires either a minimum of 30 hours of graduate credit for the thesis option or a minimum of 36 hours for the non-thesis option. The Master of Agribusiness requires 36 hours. A student seeking a M.S. in Agricultural and Applied Economics may choose courses to emphasize agribusiness and trade or resource policy and development.
The doctoral program in agricultural and applied economics requires a minimum of 70 credit hours of coursework beyond the baccalaureate degree and at least 20 credit hours for dissertation. The program is designed to develop a broad-based competence in advanced economic theory, techniques of quantitative analysis, and public administration of agricultural and economic issues. Two options are offered for the Doctor of Philosophy degree in the agricultural and applied economics program. The first option allows graduate students to select a minor of their choice in business administration, finance, mathematics, public administration, statistics, sociology, or other possible areas of study. The program has been designed to take advantage of the strengths of the department and areas of interest to students. The second option allows graduate students to select a minor in personal financial planning, a joint Ph.D. program between the department and the College of Human Sciences. Completion of the doctoral program in agricultural and applied economics with a minor in personal financial planning qualifies graduates to take a test administered by the Certified Financial Planning Board of Standards to become Certified Financial Planners.
Each Ph.D. candidate is expected to demonstrate competency by satisfactorily completing (1) a comprehensive written examination in each specialty field chosen, (2) a dissertation research project that demonstrates original independent scholarly research, and (3) a final oral exam.
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 dual 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 dual program can be completed one year sooner than when each is pursued separately. The 36-hour 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 dual degree program is of particular benefit to students who are interested in practicing law in a rural setting or who want to pursue certain types of careers in agribusiness finance or natural resource law. Students must be admitted to both programs separately but the LSAT test will suffice for both applications.
Phillip N. Johnson, Ph.D., Chairperson
Professors: Hudson, Johnson, Knight, Lyford, Malaga, Misra, Segarra
Associate Professors: Carpio, Chidmi, Elam, Farmer, Murova, Wang
Assistant Professors: Martin, Rahman, Williams
Research Assistant Professor: Boonsaeng
Adjunct Faculty: Ethridge, Phillips, Smith