Master Course Outline
AGRI-201
Microeconomics in Agriculture
Credits: 5
Clock Hours per Quarter: 50
Lecture Hours: 50


Description
Introduction to microeconomics as applied to production, consumption, and marketing issues in the business and production sectors of the economy. Topics include supply/demand theory, consumer choice theory, production theory, and costs of production. Student may not earn credit for both AGRI 201 and ECON& 201. Formerly AGRI 202.

Intended Learning Outcomes
  • Define economic terms.
  • Analyze economic concepts using graphical representations.
  • List resource classifications.
  • Calculate optimum solutions to economic problems using given data.
  • Evaluate the effects of changes in demand and supply on the market price and equilibrium quantity.
  • Explain the rationing function of prices and describe the effect of interventions in markets.
  • Determine optimal consumer choice given various conditions.
  • Calculate various elasticities and interpret the values.
  • Discuss factors that influence the values of various elasticities.
  • Perform time value of money calculations and interpret results.
  • Describe advantages and disadvantages of various forms of business organization.
  • Illustrate and describe the relationship between outputs and inputs.
  • Calculate, graph and describe effect on decision making of cost, revenue, and profit values.
  • Identify the relationship between output growth and changes in costs, revenues, and profit.
  • Compare and contrast characteristics and output / pricing decisions of perfectly competitive firms to the imperfectly competitive solutions.
  • Explain rationality for regulation of business and the effect of regulations.

Course Topics
  • Economics as a science
  • Creating and interpreting graphs
  • Scarcity and the World of Trade-offs
  • Demand and Supply
  • Consumer Choice
  • Elasticity
  • Rents, Profits and the Financial Environment of Business
  • The Firm: Cost and Output Determination
  • Market Models
  • Regulation and Antitrust behavior


Syllabi Listing
Course
Year Quarter
Item
Instructor Files
AGRI 201
B452
0098
Debora Frazier
AGRI 201
B344
0098
Debora Frazier
AGRI 201
B343
0090
Debora Frazier
AGRI 201
B342
0098
Debora Frazier
AGRI 201
B234
0092
Debora Frazier


Two Year Projected Schedule

2014 - 20152015 - 2016
Summer
Fall
Winter
Spring
Summer
Fall
Winter
Spring
 
X
X
X
 
X
X
X