Download AGRI 1101 - Agricultural Economics

Southern State Community College
Curriculum Committee – October 2014
AGRI 1101- Agricultural Economics
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I.
COURSE TITLE: Agricultural Economics
COURSE NUMBER: 1101
II.
AGRI
PREREQUISITE(S): None
III.
CREDIT HOURS: 3
LABORATORY HOURS: 0
IV.
CATALOG PREFIX:
LECTURE HOURS: 3
OBSERVATION HOURS: 0
COURSE DESCRIPTION:
An introduction to the field of agricultural economics as it relates to production,
consumption, marketing, prices, supply and demand, records, and finance.
V.
GRADING:
Grades will be calculated as a percentage of the total points earned; according
to the Course Catalog:
Numerical equivalents are established for letter grades as follows:
A = 90 - 100
B = 80 - 89
C = 70 - 79
D = 60 - 69
F = 0 - 59
Academic Honesty: See course catalog for policy. Academic honesty is
expected; acts of dishonesty will not be tolerated.
VI.
ADOPTED TEXT (S):
Agricultural Economics
3rd edition
Drummond, HE and JW Goodwin.
ISBN: 9780136071921
VII.
COURSE OBJECTIVES
At the completion of this course the student will be able to:
AGRI 1101 - Agricultural Economics
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Develop an understanding of business organization in the United States
economy.
Develop an understanding of monetary systems in the United States
economy.
Develop an understanding of capital resources in both the United States and
the world economy.
Develop an understanding of the concept of supply and demand and the
interaction of supply and demand.
Develop an understanding of the optimum level of agriculture production,
both socially and economically.
Develop an understanding of the cost involved in marketing and
consumption of agriculture products.
VIII. COURSE METHODOLOGY:
This course may use lecture, discussion, video, computer slide show, in and
out-of class assignments, work projects, research papers, and written exams as
appropriate to the course objectives.
IX.
COURSE OUTLINE:
Introduction to economics
History of Agriculture in the USA
Farm characteristics and human resources
Natural resources
Capital resources
Types of economic systems
Types of business organizations, monetary and fiscal policy
Macro profile of US economy
Specialization and comparative advantage
Physical production relationships
Costs and returns of production; optimum levels of output
Supply and demand
Equilibrium price
Agricultural Marketing
SAMPLE Course Calendar:
Week 1
Economic concepts in agriculture and food industry
Week 2
Market price determination and production firm
Week 3
Output levels
Week 4
supply/demand
Week 5
competition and government regulation
Exam #1
Week 6
consumer behavior; elasticity
Week 7
money and flow of income
Week 8
monetary and fiscal policy
Week 9
international trade and agricultural policy
AGRI 1101 - Agricultural Economics
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Week 10
Week 11
Week 12
Week 13
Week 14
Week 15
Week 16
X.
food marketing
Exam #2
futures markets
financial markets and investment analysis
farm service sector
market failure
role of food in economic development
Final Exam (Exam #3)
OTHER REQUIRED BOOKS, SOFTWARE AND MATERIALS:
Other resources may be required as the term progresses and will be announced or
given in class
XI.
EVALUATION:
Knowledge of content is evaluated by various methods at the discretion of the
instructor. All exams are comprehensive. Quizzes may be given at the
instructor’s discretion. Make-up exams and quizzes will not be permitted.
Sample Grading Scale:
Quizzes/homework
Research paper/project
Midterm Exam #1
Midterm Exam #2
Final Exam
XII.
10%
10%
25%
25%
30%
SPECIFIC MANAGEMENT REQUIREMENTS:
Students will be required to complete written exams at times designated in the
Course Schedule. Students are required to participate in all class activities.
Students may withdraw from classes according to the schedule in the student
handbook. Withdrawal from classes may affect the student’s financial aid.
See the FEE SCHEDULE section of the College Catalog for the policy on
refunds and financial aid.
XIII. OTHER INFORMATION:
CLASSROOM CONDUCT: Civility in the classroom is very important. As
professionals, we expect students to conduct themselves in a courteous and
respectful manner. Disruptive, rude, sarcastic, obscene or disrespectful
speech or behavior have a negative impact on everyone and will not be
tolerated.
AGRI 1101 - Agricultural Economics
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FERPA: Students need to understand that your work may be seen by others.
Others may see your work when being distributed, during group project work,
or if it is chosen for demonstration purposes.
Students also need to know that there is a strong possibility that your work
may be submitted to other entities for the purpose of plagiarism checks.
DISABILITIES: Students with disabilities may contact the Disabilities
Service Office, Central Campus, at 800-628-7722 or 937-393-3431.