AGEC 1010 - Introduction to Ag Economics
This course is for students wishing to enter either production agriculture or agribusiness. It is designed to give the student a working knowledge of both the terminology and concepts in the field of agricultural economics. This course is required for Agricultural Business majors.
Credits: 3
Instructional Method Lecture
General Education Requirement: Social and Behavioral Sciences
Comments: This course meets UW’s Human Culture Requirement.
Minimum Student Competencies
Upon completion of AGEC 1010 Introduction to Ag. Economics the student will:
- Characterize the law of supply and demand
- Explain opportunity costs
- Calculate production possibility curves
- Discuss the importance of GDP as a measuring tool
- Differentiate between Fiscal and Monetary policy
- Explain how tax policy influences production decisions
- Evaluate the importance of international trade
- Apply marginal analysis concepts to production
- Access real-time market information
Program Outcomes
Agricultural Business AS
PO#1 Access agricultural financial information and markets
PO#3 Explain the importance of international trade on agricultural markets
PO#4 Differentiate between marginalism and profitability
PO#5 Analyze governmental policy’s influence on cultural practices
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