Applied Political Economy
This minor is intended for students interested in working on issues at the intersection of applied economics and political science. The minor is structured to allow students to use their electives to focus on applied problems in agriculture, business, public policy, and international politics, bringing the analytical tools of both disciplines to bear on these problems. This minor is suitable for students in any discipline who want a background in interdisciplinary political economy with a focus on addressing concrete problems in public policy.
Total Credits: 18
Shalynn Sumrow will graduate Magna Cum Laude from Texas Tech University in May 2020 with a Bachelor of Science in Agricultural and Applied Economics and a Minor in Applied Political Economy. Shalynn started her first year at Texas Tech in the fall semester of 2017 as a freshman from Mount Vernon, TX. While earning her undergraduate degree, Shalynn also participated in the Free Market Institute's McLane Teammates Reading Program.
"This minor was very intriguing to me and allowed me to explore not only more areas of Agricultural Economics, but also Business Management in the Rawls College of Business and Political Science. I also had the opportunity to participate in the CASNR Congressional Internship program which gave me the chance to use the knowledge I gained in these classes in a professional political setting. Upon graduation, I plan on staying at Texas Tech and pursuing a Master of Science in Agricultural and Applied Economics. I highly recommend this minor to anyone that has an interest in both Economics and Political Science! It is a perfect opportunity to challenge yourself academically and gain more knowledge in two interesting fields of study!"
AAEC 2305. Fundamentals of Agricultural and Applied Economics (3). Fundamental economic principles and their application to problems and issues in the food, fiber, and natural resource sectors of the economy. Fulfills core Social and Behavioral Sciences requirement. F, S, SS. Alternatively, BA 3306 The Fundamentals of Business Economics, or ECO 2305 Principles of Economics can be substituted to fulfill this requirement.
BECO 4345. Economics of Regulation (3). Prerequisites: C or better in ECO 2302 or 2305. Study of the economic criteria of public regulation of private business with emphasis on public policy. Theories of regulation. Regulation of various markets.
POLS 3316. Public Choice (3). Private choice you can do all by yourself, but non-market decision making requires some form of collective action. We usually call it politics. Public Choice is the economic analysis of politics. The subject matter is political science but the theoretical lens of economic analysis is used to examine the behavior of voters, politicians, bureaucrats, and interest groups under various institutional arrangements.
AAEC 4305. Agricultural and Public Policy (3). Prerequisite: AAEC 3315. Historical development and economic analysis of public programs and policies affecting the food and fiber sector and the environment. (Writing Intensive) F.
POLS 3346. Public Policy Analysis (3). Prerequisite: POLS 1301. The study of public policy formulation, implementation, and evaluation at various levels of government. Particular focus on health, social, and development policies. Attention to policy analysis skills and approaches used in government and consulting.
BECO 4366. Global Business Economics and Policy (3). Prerequisites: C or better in ECO 2302 or 2305. Examines business interaction with economic policy in a globalized world, the impact of international trade policy on businesses, and the role international businesses play in the process of economic development.
BECO 3310. Applied Business Economics (3). Prerequisites: C or better in ECO 2302 or ECO 2305 or AAEC 2305. Economic analysis applied to business decisions and strategy. Topics may include business valuation, pricing strategy, risk management, contracts, and organizational economics.
BECO 4376. Austrian Economics (3). Prerequisites: C or better in ECO 2302 or 2305. Applied topics include entrepreneurship and competition theory, regulation and anti-trust, business cycles, comparative systems and economic development, and business management.
AAEC 3306. The Economics of the American West (3). Prerequisite: Junior standing. Introduces economic concepts to explore various historical forms of social organization in the American West. Communication intensive.
POLS 3366. International Political Economy (3). Prerequisite: POLS 1301. Explores the interaction of politics and economics in trade, investment, finance, and development.
*AAEC 4305, POLS 3346, and BECO 4366 that are not taken to fulfill the policy requirement may be taken as electives.
Interested students may contact the Free Market Institute with any questions by email at email@example.com or by phone at (806) 742-7138. Students may also consult with their academic advisors to learn more information about this minor course of study.