AGEC 1100 Introduction to Agricultural Economics
Course Information
| Course Number | AGEC 1100 |
|---|---|
| Course Title | Introduction to Agricultural Economics |
| Description | This course is an introduction to agricultural economics. Economic concepts of the food, fiber, and fuel industry will be explored though problem solving exercises and graphical analysis. Consumer and business behavior will be analyzed under various market and regulatory conditions, with major focus spent on determining changes to equilibrium of aggregate supply and demand curves. Both microeconomic and macroeconomic factors will be defined and discussed in relation to global and local agribusiness value chains, including many factors affecting farmers in the American Midwest. (Prerequisites: None) |
| Total Credits | 3 |
| Total Hours | 64 |
| Instruction Type | Credits and Hours |
|---|---|
| Lecture | 2 Credits, 43 Hours |
| Lab | 1 Credit, 21 Hours |
Pre/Corequisites
None
Institutional Core Competencies
- Critical and Creative Thinking - Students will be able to demonstrate purposeful thinking with the goal of using a creative process for developing and building upon ideas and/or the goal of using a critical process for the analyzing and evaluating of ideas.
Course Competencies
- Describe the scope of agriculture, food, and natural resources using economic terminology.
- Compare and contrast microeconomics and macroeconomics.
- Relate individual consumer behavior to aggregate demand.
- Synthesize how business behavior and input allocation affect aggregate supply.
- Demonstrate the characteristics of perfect competition using market equilibrium price and quantity.
- Demonstrate the characteristics of imperfect competition using market equilibrium price and quantity.
- Analyze the role of governmental policies in the food, fuel, and fiber industries.
- Characterize monetary policy and its impact on agriculture.
- Assess the impact of international agricultural trade on student's daily life.
- Relate agricultural economic and management concepts to student's individual, family, regional, national, and global economic condition.
SCC Accessibility Statement
South Central College strives to make all learning experiences as accessible as possible. If you have a disability and need accommodations for access to this class, contact the Academic Support Center to request and discuss accommodations.
North Mankato: Room B-132, (507) 389-7222; Faribault: Room A-116, (507) 332-7222.
Additional information and forms can be found at: southcentral.edu/disability
This material can be made available in alternative formats by contacting the Academic Support Center at 507-389-7222.