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Courses - Spring 2022
AREC
Agricultural and Resource Economics Department Site
AREC210
The Food Chain: What Happens As Your Food Goes From Farm to Table
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSHS, SCIS
Food supply chains link farms, input providers, traders, food processors, and retailers. We assess how supply chains are organized, how they use technologies, and how they are adapting their organization and technologies to meet the challenges facing the food system and society. The challenges include: 1) Producing enough food to meet a growing global population, while reducing damages to air, water, and soil resources; (2) Meeting the health challenges posed by obesity and food insecurity, while also meeting consumer preferences for how food should be produced; and (3) Doing all this in the face of climate change.
AREC240
Introduction to Economics and the Environment
Credits: 3
Grad Meth: Reg, P-F, Aud
CORE: SB
GenEd: DSHS
Credit only granted for: ECON200, AREC240, or AREC250.
Costs and social impacts of pollution and human crowding in the modern environment. The economic, legal and institutional causes of these problems. Public policy approaches to solutions and the costs and benefits of alternative solutions.
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.
AREC326
Intermediate Applied Microeconomics
Credits: 3
Grad Meth: Reg, P-F
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.
AREC345
Global Poverty and Economic Development
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSHS, DVUP
This interdisciplinary course explores social and economic development around the world. Topics include geography, democratization, political instability and conflict, health and education, agricultural development, micro-entrepreneurship, and an introduction to impact evaluation methods used to evaluate the efficacy of public policy aimed at alleviating poverty.
AREC360
Global Agriculture: Developing Extension Education & Agriculture Technologies in Africa
Credits: 3
Grad Meth: Reg, P-F, Aud
GenEd: DSSP, DVCC
Identifies challenges faced by farmers in Nimba County, Liberia, and works collaboratively across borders to discuss these challenges and develop extension education programming that will be implemented in the region in order to empower local farmers. The course is designed to create a paradigm shift for both cohorts of students who will educate and learn from each other in what is now becoming a critical context - the globalized workspace. UMD and LICC students will be grouped together to identify and develop particular thematic areas most needed by local farmers, and then as a cohort create a week-long extension program to be implemented on the ground.
For more course information, contact Taryn Devereux at taryndev@umd.edu.
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, P-F
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.
AREC405
Economics of Production
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON326 or AREC326; or students who have taken courses with comparable content may contact the department.
The use and application of production economics in analysis of firm and policy decisions. Production functions, cost functions, multiple product and joint production, and production processes through time.
AREC433
Food and Agricultural Policy
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: ECON326 or AREC326; or students who have taken courses with comparable content may contact the department.
Economic and political context of governmental involvement in the farm and food sector. Historical programs and current policy issues. Analysis of economic effects of agricultural programs, their benefits and costs, and comparison of policy alternatives. Analyzes the interrelationship among international development, agricultural trade and general economic and domestic agricultural policies.
AREC435
Commodity Futures and Options
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: AREC326; or ECON326; or students who have taken courses with comparable content may contact the department.
The economics and institutional features of commodity futures and options markets. Students will develop a basic understanding of the underlying price relationships between cash and futures markets and will apply this information to business risk management decision making.
AREC447
The Economy of China
Credits: 3
Grad Meth: Reg, P-F, Aud
Prerequisite: AREC326, ECON306, or ECON326.
Restriction: Must be in one of the following programs (Agricultural and Resource Economics; Agricultural and Resource Economics: Agribusiness).
An introductory survey course of economic development in China with emphasis on understanding the process of economic reform in mainland China since 1978.
AREC454
The Economics of Climate Change
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: ECON484.
Credit only granted for: AREC454 or ECON484.
The role of economics in the formation of climate policy; basic concepts of environmental economics including efficiency, externalities, and policy instruments; economic models of intertemporal decisions and decision making in the face of uncertainty. Applied economic analysis of specific issues and current policy initiatives.
AREC456
Energy and Environmental Economics
Credits: 3
Grad Meth: Reg, P-F
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: ECON486.
Credit only granted for: AREC456 or ECON486.
Economic theory and empirical methods are used to study problems of energy, the environment, and the economy. It examines the extraction, production, and use of energy and market institutions and regulatory approaches used to correct market failures. Topics covered include: oil and natural gas markets, management and design of electricity markets, renewable energy, non-market valuation , climate change, and transportation policies.
AREC481
Environmental Economics
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).
Restriction: Must be in one of the following programs (Agricultural and Resource Economics; Agricultural and Resource Economics: Agribusiness; Environmental Science & Policy-Env Economics; Agricultural and Resource Economics: Environmental and Resource Economics; Economics Bachelor of Arts program).
Cross-listed with: ECON481.
Credit only granted for: ECON481 or AREC481.
An exploration of the use of economic incentives for protection of the environment and the determination of appropriate (or efficient) level of environmental quality. Also covers the choice of policy instruments for the attainment of environmental standards.
AREC610
Microeconomic Applications in Agricultural and Resource Markets
Credits: 3
Grad Meth: Reg, Aud
Prerequisite: ECON603.
Applications of graduate level microeconomic analysis to the problems of agricultural and natural resource production and distribution including demand for agricultural output, the nature of agricultural supply decisions, decision making under uncertainty, valuation of natural resources, and exploitation of natural resources.
AREC624
Applied Econometrics II
Credits: 4
Grad Meth: Reg, Aud
Prerequisite: AREC623.
Variations of the standard linear model, simultaneous equations estimation, nonlinear regression, nonlinear simultaneous equations estimation, static and dynamic panel data models, errors in variables, Hausman tests, discrete choice models such as conditional multinomial and mixed logit models, latent class models, semi-parametric estimation, varying parameter models, unobserved variables, time series models, and model selection procedures.
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.
AREC784
Energy Economics, Empirical Industrial Organization, and Public Policy
Credits: 3
Grad Meth: Reg, S-F
Prerequisite: ECON603, AREC623, and AREC624; or permission of instructor.
Energy markets and public policy, evaluating techniques for estimating market demand and supply and for evaluating policy intervention. Comparison of reduced-form and structural approaches. Applications may include but are not limited to electricity, oil and other liquid fuels, and household travel, with examples from the United States and other countries.
AREC799
(Perm Req)
Master's Thesis Research
Credits: 1 - 6
Grad Meth: S-F
Contact department for information to register for this course.
AREC815
Experimental and Behavioral Economics
Credits: 3
Grad Meth: Reg
Prerequisite: AREC623, AREC624, ECON603, and ECON604; or equivalent.
Credit only granted for: AREC815 or AREC869A.
Formerly: AREC869A.
An overview of the design, implementation, and analysis of experiments motivated by behavioral economics, with a particular focus on experiments in field settings. Topics covered include social preferences, risk aversion, prospect theory, present bias, overconfidence, and limited attention.
AREC844
Firm Growth in Developing Countries
Credits: 3
Grad Meth: Reg
Prerequisite: A one-year PhD-level sequence in microeconomics and a PhD-level course in econometrics.
A study of the growth of firms face in developing countries and interventions/policies that can be used to remove barriers to growth, including issues related to management, credit constraints, political connections, misallocation and trade.
AREC869
Advanced Topics in Agricultural and Resource Economics
Credits: 3
Grad Meth: Reg, Aud, S-F
Repeatable to 9 credits if content differs.
AREC898
(Perm Req)
Pre-Candidacy Research
Credits: 1 - 8
Grad Meth: S-F
Contact department for information to register for this course.
AREC899
(Perm Req)
Doctoral Dissertation Research
Credits: 6
Grad Meth: S-F
Contact department for information to register for this course.