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Courses - Fall 2019
AREC
Agricultural and Resource Economics Department Site
AREC200
The Chesapeake Bay Ecosystem: Intersection of Science, Economics, and Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: LS
GenEd: DSNS or DSSP, SCIS
The Chesapeake Bay is one of the most studied and monitored ecosystems in the world. To develop effective policies to restore this system to a healthier status requires integrating what we know about the biological and physical properties of the system with our understanding of the human dimension. Issues such as achieving nutrient reduction goals, restoring healthy blue crab and oyster fisheries in the bay will be used to demonstrate how economics interacts with science to guide policies that can be effective in achieving Bay restoration goals.
AREC241
Environment, Economics and Policy
Credits: 4
Grad Meth: Reg, P-F, Aud
GenEd: DSHS, SCIS
Credit only granted for: AREC240 or AREC241.
Studies the relationship between the economy, environment and policy. Causes of modern environmental problems and policies to address them. Importance of production, consumption, externalities, property rights and public goods in environmental issues. Technological and incentive-based solutions to environmental problems.
AREC250
Elements of Agricultural and Resource Economics
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Credit only granted for: ECON200, AREC240 or AREC250.
An introduction to economic principles of production, marketing, agricultural prices and incomes, farm labor, credit, agricultural policies, and government programs.
AREC306
Farm Management and Sustainable Food Production
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSSP
The organization and operation of farm businesses are explored through principles of management, financial analysis, production economics, marketing, and business planning. These farm management principles are presented in the context of a sustainable food production system.
AREC326
Intermediate Applied Microeconomics
Credits: 3
Grad Meth: Reg
Prerequisite: ECON200, AREC250, or AREC240; and ECON201. And MATH120, MATH130, MATH136, or MATH140; or must have completed MATH220.
Credit only granted for: ECON306, ECON326, AREC489M, or AREC326.
Formerly: AREC489M.
Deepens and broadens your ability to apply rigorous economic analysis skills to a broad range of problems.
AREC365
World Hunger, Population, and Food Supplies
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: D
GenEd: DVUP
An introduction to the problem of world hunger and possible solutions to it. World demand, supply, and distribution of food. Alternatives for leveling off world food demand, increasing the supply of food, and improving its distribution. Environmental limitations to increasing world food production.
AREC380
Data Science for Environmental and Resource Economics
Credits: 3
Grad Meth: Reg
Prerequisite: AREC240, AREC241, AREC250, or ECON200.
An introduction to principles of data science using modern, open source software tools with applications to important problems in environmental, energy and resource economics. Topics include data wrangling, exploratory data analysis and visualization, modeling, forecasting, practices for reproducible research, and communication of results.
AREC386
(Perm Req)
Experiential Learning
Credits: 3 - 6
Grad Meth: Reg, P-F
Prerequisite: Permission of AGNR-Agricultural & Resource Economics department.
Restriction: Junior standing or higher.
Contact department for information to register for this course.
AREC388
(Perm Req)
Honors Thesis Research
Credits: 3 - 6
Grad Meth: Reg
Contact department for information to register for this course.
AREC399
Credits: 1 - 3
Grad Meth: Reg, P-F, Aud
Contact department for information to register for this course.
AREC422
Econometric Applications in Agricultural and Natural Resource Economics
Credits: 3
Grad Meth: Reg
Prerequisite: AREC326; or ECON326.
Credit only granted for: ECON422, AREC422, or AREC489F.
Formerly: AREC489F.
The main goal of this course is to equip students with valuable skills in econometrics and data analysis. Specifically, the main goal of the course is to teach you the basics of the theory and practice of econometrics, and to give you experience in estimating econometric models with actual data.
AREC426
Economic Methods and Food Consumption Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: AREC326; or ECON326.
Credit only granted for: AREC489O or AREC426.
Formerly: AREC489O.
An overview of major econometric tools used by policy makers, economists and social scientists to analyze the effects of food consumption policy. Major food assistance programs in the United States such as SNAP, the School Lunch Program and the School Breakfast Program will be discussed.
AREC453
Natural Resources and Public Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: AREC326, ECON306, or ECON326; and (BMGT230 or ECON230).
Restriction: Must be in one of the following programs (Agricultural and Resource Economics; Agricultural and Resource Economics: Agribusiness; Agricultural and Resource Economics: Environmental and Resource Economics; Economics Bachelor of Arts; Environmental Science & Policy-Env Economics).
Cross-listed with ECON453. Credit only granted for: AREC453 or ECON453.
Rational use and reuse of natural resources. Theory, methodology, and policies concerned with the allocation of natural resources among alternative uses. Optimum state of conservation, market failure, safe minimum standard, and cost-benefit analysis.
AREC455
Economics of Land Use
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: 1 course with a minimum grade of C- from (AREC326, ECON306, ECON326); and 1 course with a minimum grade of C- from (ECON230, ECON321, BMGT230).
Cross-listed with: ECON485.
Credit only granted for: AREC455 or ECON485.
Fundamentals of location theory. Microeconomics of land use decisions, including determination of rent and hedonic pricing models. Impacts of government decisions on land use, including regulation (e.g., zoning), incentives (transferable development rights), provision of public services, and infrastructure investments. Impacts of land use on environmental quality, including issues relating to sprawl, agricultural land preservation, and other topics of special interest.
AREC620
Optimization in Agricultural and Resource Economics
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Must have completed Multivariate calculus and matrix or linear algebra.
Mathematical theory of static and dynamic optimization as applied to the economics of agriculture, natural resources and the environment. Topics include necessary and sufficient conditions for constrained optimization, convexity and concavity, duality and the envelope theorem, comparative statics, fixed point theorems, optimal control theory and dynamic programming.
AREC623
Applied Econometrics I
Credits: 4
Grad Meth: Reg, Aud
Prerequisite: Introductory statistics or econometrics, linear algebra, and differential/calculus; or permission of instructor.
Additional information: Intended for first-year Ph.D. students from AREC, BUFN, ECON, EDMS, EDUC, PLCY and URSP departments with a background in introductory statistics or econometrics.
A modern introduction to empirical strategies in applied microeconomic research in public policy, development economics, labor economics, education, marketing and corporate finance. Emphasis on causal reasoning and design-driven identification in the social sciences. Concepts and applications will focus on addressing economically meaningful causal questions. Basic theoretical and mathematical aspects of probability and statistics will be developed to assess the significance of the relationship among economic variables. Topics include: the approximation of the conditional expectation function through a linear predictor (Ordinary Least Squares), the effects of omitted variables and the usefulness of variables that resemble the outcome of a randomized experiment (Instrumental Variables), as well as extensions to high-dimensional big-data counterparts. Fundamental concepts in sampling theory, statistical inference (with small and large samples) and hypothesis testing will be studied and applied to real data using Stata, a general-purpose statistical software.
AREC699
(Perm Req)
Special Problems in Agricultural and Resource Economics
Credits: 1 - 2
Grad Meth: Reg, Aud
Contact department for information to register for this course.
AREC799
(Perm Req)
Master's Thesis Research
Credits: 1 - 6
Grad Meth: Reg
Contact department for information to register for this course.
AREC829
Policy Design and Causal Inference for Social Science
Credits: 3
Grad Meth: Reg, Aud
AREC892
(Perm Req)
Dissertation Prospectus Development
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: Completion of two years of the AREC Ph.D. program.
Credit only granted for: AREC 869P or AREC 892.
Formerly: AREC869P.
Presentations of proposed dissertation research including literature review, model development, data identification, and written prospectus development. Required of all third-year Ph.D. students.
AREC898
(Perm Req)
Pre-Candidacy Research
Credits: 1 - 8
Grad Meth: Reg
Contact department for information to register for this course.
AREC899
(Perm Req)
Doctoral Dissertation Research
Credits: 6
Grad Meth: Reg
Contact department for information to register for this course.