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File: Economics Pdf 125391 | Agricultural Economics Business
agricultural economics and agricultural business 1 doctorate of economic development and agricultural economics ms ph d in water science management and agricultural masters of science in agricultural economics master of ...

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                                                                                                      Agricultural Economics and Agricultural Business      1
                                                                                       • Doctorate of Economic Development; and
          AGRICULTURAL ECONOMICS
                                                                                       • MS & Ph.D. in Water Science Management. 
          AND AGRICULTURAL                                                           Masters of Science in Agricultural Economics
                                                                                     Master of Science (MS) in Agricultural Economics program provides
          BUSINESS
                                                                                     rigorous training in economic theory, applied economic analysis, and
                                                                                     quantitative methods.  The degree and curriculum are designed to
          Undergraduate Program Information
                                                                                     prepare students for professional careers in business, government,
                                                                                     research, and for continued education in pursuit of a Ph.D.  The program
          The Department of Agriculture Economics and Agricultural Business
                                                                                     requires students to complete a Master’s thesis working closely with a
          offers two Bachelor of Science in Agriculture degrees.  A Bachelor
                                                                                     faculty committee.
          of Science in Agriculture with a major in Agricultural Economics and
          Agricultural Business (AEAB) and a Bachelor of Science in Agriculture
                                                                                     Masters of Agriculture with a concentration in Agribusiness
          with a major in Natural Resource Economics and Policy (NREP).
                                                                                     Master of Agriculture (MAG-AB) with a concentration in Agribusiness
          Agricultural Economics and Agricultural Business - Bachelor of Science in
                                                                                     provides students with backgrounds or interests in agriculture with
          Agriculture
                                                                                     graduate-level training in agribusiness and applied economics.  Students
                                                                                     are able to develop knowledge and skills related to applied economics,
          The AEAB degree prepares students for supervisory and management
                                                                                     finance, marketing, management, and quantitative methods and skills
          positions with companies that operate in the food and fiber supply
                                                                                     commonly used in managing businesses operating within the food and
          chain.  Positions may focus on areas of agribusiness management,
                                                                                     fiber value chain. The degree offers an alternative for individuals holding
          agricultural production, financing, marketing, and economics.  Recent
                                                                                     undergraduate degrees in various agricultural and food science fields
          AEAB graduates have accepted positions with national and international
                                                                                     to learn and develop skills needed to start or manage an agricultural
          companies, non-profits, and government agencies.
                                                                                     business.  The program requires students to complete a creative
          In this program, faculty, students, and industry stakeholders work
                                                                                     component or thesis working closely with a faculty committee.  Courses
          together to provide students with real-world examples and opportunities
                                                                                     are offered in a hybrid format allowing students not living in or near Las
          to apply their skills and knowledge through departmental course
                                                                                     Cruces to participate in the program.
          offerings.  The curriculum is designed to educate students as business
                                                                                     Masters of Business Administration with a concentration in Agribusiness
          professionals with the necessary skills to succeed in professional
          positions. Depending on their interest, students can customize their path
                                                                                     Master of Business Administration with a concentration in Agribusiness
          of study to include additional courses in marketing, finance, or natural
                                                                                     (MBA-AB) prepares students for business and public sector careers in
          resource management.
                                                                                     agriculture and the food and fiber industry. Graduates from this program
                                                                                     are knowledgeable about the U.S. and international food and fiber sectors
          Natural Resource Economics and Policy - Bachelor of Science in Agriculture
                                                                                     and hold an AACSB International accredited MBA degree.
          The Department of Agriculture Economics and Agricultural Business
                                                                                     Doctor of Economic Development
          offers the Bachelor of Science in Natural Resource Economics and
          Policy (NREP); an undergraduate degree that trains students on the
                                                                                     Doctor of Economic Development (DED) is a professional doctorate
          socio-economic and bio-physical aspects of environmental and natural
                                                                                     designed to provide advanced training for economic development
          resource management and policy. With increasing competition for limited
                                                                                     professionals. It is not designed to prepare graduates for academic
          land, water, and other natural resources in the U.S. and throughout the
                                                                                     careers.
          world, as well as growing concern about environmental degradation,
          there is a growing need for professionals who can assist in the process
                                                                                     Interdisciplinary Masters in Water Science and Management and Ph.D. in
          of balancing economic and environmental tradeoffs. The NREP major
                                                                                     Water Science and Management
          provides students with knowledge and skills to articulate and apply
          economic principles to a range of public and private sector issues         The Water Science program is an interdisciplinary program supported by
          such as land use, energy, wildlife, climate and air resources, and water.  AEAB faculty that provides graduate education for the next generation
          This major prepares students for private and public sector positions in    of water resources researchers, educators, and managers.  The program
          resource assessment, management, or administration.                        provides knowledge and tools that can be used to address state, national,
                                                                                     and international water challenges including water quality, quantity,
                                                                                     timing/availability, and location of water resources.
          Graduate Program Information
          The Department of Agricultural Economics and Agricultural Business
                                                                                     Degrees for the Department
          supports five graduate programs.  Several of these programs are offered
          with cooperation from other departments on campus.  The five degrees
                                                                                     Bachelor Degree(s)
          supported by AEAB include:
                                                                                     Agricultural Economics and Agricultural Business - Bachelor of Science
                                                                                     in Agriculture (http://catalogs.nmsu.edu/nmsu/agricultural-consumer-
            • Masters of Science in Agricultural Economics;
                                                                                     environmental-sciences/agricultural-economics-business/agricultural-
            • Masters of Agriculture with a concentration in agribusiness;
                                                                                     economics-business-bachelor-science-agriculture/)
            • Masters of Business Administration with a concentration in
              agribusiness;                                                          Natural Resource Economics and Policy - Bachelor of Science in
                                                                                     Agriculture (http://catalogs.nmsu.edu/nmsu/agricultural-consumer-
          2       Agricultural Economics and Agricultural Business
          environmental-sciences/agricultural-economics-business/natural-          production economics; C. Robinson, Ph.D. (New Mexico State)- consumer
          resource-economics-policy-bachelor-science-agriculture/)                 behavior, agricultural production, marketing sales; G. Torell, Ph.D. (University
                                                                                   of Wyoming)- agricultural economics, natural resources, environmental
          Master Degree(s)                                                         economics; College Professors J. Townsend, Ph.D. (Oklahoma State
                                                                                   University) commodity risk management, agricultural marketing; Affiliated
          Agriculture (Agribusiness) - Master of Agriculture (http://
                                                                                   Faculty D. Blayney, Ph.D. (Washington State Univeristy) agricultural supply
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   chain; dairy production; Emeritus Faculty V. Bullock M.S. (Emeritus) (New
          sciences/agricultural-economics-business/agriculture-agribusiness-
                                                                                   Mexico State University) real estate, real estate appraisal; P. Gutierrez,
          master-agriculture/)
                                                                                   Ph.D. (Emeritus) (Oklahoma State)– extension, ranch economics, economic
          Agriculture (Agribusiness) - Master of Business Administration (http://
                                                                                   development;  J. D. Libbin, Ph.D. (Emeritus) (Iowa State)– farm management,
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   production economics; R. Skaggs, Ph.D. (Emeritus) (Utah State)– agriculture
          sciences/agricultural-economics-business/agriculture-agribusiness-
                                                                                   and natural resource policy; 
          master-business-administration/)
                                                                                   Department of Economics, Applied Statistics and International Business:
          Agricultural Economics - Master of Science (http://catalogs.nmsu.edu/
                                                                                   C. A. Erickson, Department Head, Ph.D. (Arizona State)-economic
          nmsu/agricultural-consumer-environmental-sciences/agricultural-
                                                                                   development, monetary theory, macroeconomics; Professors D. L. Daniel,
          economics-business/agricultural-economics-master-science/)
                                                                                   Ph.D. (Southern Methodist)- nonparametrics; C. Enomoto, Ph.D. (Texas
          Water Science Management - Interdisciplinary Masters (https://
                                                                                   A&M)-econometrics, economic theory; D. A. Gegax, Ph.D. (Wyoming)-public
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   utility economics, industrial organization; W. R. Gould, Ph.D. (North Carolina
          sciences/water-science-mgmt/water-science-management-master-
                                                                                   State)-biological sampling, wildlife and fisheries estimation; Y. F. Lee, Ph.D.
          science/)
                                                                                   (Southern Illinois-Carbondale)-international finance, international trade,
                                                                                   international system, economic development; R. L. Steiner, Ph.D. (Oklahoma
          Doctoral Degree(s)
                                                                                   State)-likelihood methods, discrete distributions; D. M. VanLeeuwen, Ph.D.
          Economic Development - Doctor of Economic Development (http://
                                                                                   (Oregon State)-statistics; Associate Professors L. Blank, Ph.D. (Tennessee,
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   Knoxville)- microeconomic theory, managerial economics, regulatory
          sciences/agricultural-economics-business/economic-development-
                                                                                   economics; C. Gard, Ph.D. (Washington)-biostatistics; R. McFerrin, Ph.D.
          doctor-economic-development/)
                                                                                   (Texas A & M )-micro theory, American economic history; B. Widner, Ph.D.
                                                                                   (Colorado State)-urban/regional, public finance, development; Assistant
          Water Science and Management - Doctor of Philosophy (https://
                                                                                   Professors B. Bai, MS (New Mexico State)-applied statistics; J. Bucheli, Ph.D.
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   (New Mexico)-migration, economic development; L. LaPlue (Tennessee)-
          sciences/water-science-mgmt/water-science-management-doctor-
                                                                                   international and environmental economics; M. Li, Ph.D.(Pennsylvania State), ;
          philosophy/)
                                                                                   J. Mamkhezri, Ph.D. (New Mexico)-energy, natural resources, environmental;
                                                                                   C. Sroka (Ohio State)-count data models; P. J. Trainor, Ph.D. (Louisville)-
          Minors for the Department
                                                                                   biostatistics, bioinformatics, Bayesian statistics Emeritus Faculty R.
                                                                                   V. Adkisson, Ph.D. (Nebraska)-international, public finance, economic
          Agricultural Business Management- Undergraduate Minor (http://
                                                                                   development; K. Brook, Ph.D. (Texas-Austin)-macroeconomic theory, monetary
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   policy; D.L. Clason, Ph.D. (Kansas State); M. Ellis , Ph.D. (California-Riverside);
          sciences/agricultural-economics-business/agricultural-bus-mgt-
                                                                                   B. N. Matta, Ph.D. (Texas-Austin); J. T. McGuckin, Ph.D. (Wisconsin-Madison);
          undergraduate-minor/)
                                                                                   J. T. Peach, Ph.D. (Texas-Austin)-quantitative economics, border studies,
          Natural Resource Economics- Undergraduate Minor (http://
                                                                                   economic development;  A.V. Popp, Ph.D., (Northern Illinois); D.B. Smith, Ph.D.,
          catalogs.nmsu.edu/nmsu/agricultural-consumer-environmental-
                                                                                   E. S. Willman, Ph.D. (Indiana)
          sciences/agricultural-economics-business/natural-resource-econ-
          undergraduate-minor/)
          Professor, Jay Lillywhite, Department Head
          Professors Hurd, Lillywhite, Ward
          Associate Professors Acharya, Patrick
          Assistant Professors Miller, Regmi, Robinson, Torell
          College Professors Townsend
          Department of Agricultural Economics and Agricultural Business:
          J. Lillywhite, Department Head, Ph.D. (Purdue)– food and agribusiness
          management and marketing;  Professors B. H. Hurd, Ph.D. (California-Davis)–
          water and natural resource economics; F. A. Ward, Ph.D. (Colorado State)–
          resource economics, welfare economics; Associate Professors R.N. Acharya,
          Ph.D. (Auburn)– food safety, logistics management, technology adoption,
          and marketing; M. Patrick, Ph.D. (Michigan State University)– Economic
          Development; Assistant Professors F. Miller, Ph.D. (University of Texas-
          Dallas)- agricultural economics, policy, dairy, range livestock;  M. Regmi,
          Ph.D. (Kansas State University)- agricultural finance, risk management,
                                                                                                      Agricultural Economics and Agricultural Business      3
                                                                                     AEEC 2120. Introduction to Food and Agribusiness Accounting
          Agricultural Economics Courses
                                                                                     3 Credits (3)
          AEEC 1110. Introduction to Agricultural Economics and Business
                                                                                     This course outlines the purpose and methods of keeping and analyzing
          3 Credits (3)
                                                                                     farm and ranch records. Course topics include financial statements,
          This course is an orientation to agricultural economics and business
                                                                                     efficiency measures, analysis of the business, and tax computations.
          through the discovery process for the consumer in the food, fiber, and
                                                                                     Learning Outcomes
          natural resource sectors of the global economy. The course discusses
                                                                                      1. Understand the terminology and principles used in modern farm
          the application of micro-and macro-economic principles as they relate to
                                                                                         and ranch financial management statements. Evaluate capital
          agricultural economics and business. May be repeated up to 3 credits.
                                                                                         investments, analyze farm business performance, and develop tools
          Learning Outcomes
                                                                                         for financial planning and analysis Evaluate farm and ranch cash
           1. Gain a broad understanding of the role of the consumer in the market-
                                                                                         flows
              place for agricultural commodities, producers, agencies and the
              global market structure.
                                                                                     AEEC 2130G. Survey of Food and Agricultural Issues
           2. Apply introductory economic principles to applied global situations.   3 Credits (3)
                                                                                     Survey of food and agricultural issues, including: geography of food
           3. Employ economic concepts in the application of production level
                                                                                     production and consumption; human-agricultural-natural resource
              decision making.
                                                                                     relations; agriculture in the United States and abroad; modern
           4. Employ economic prin
                                                                                     agribusiness; food safety; food, agriculture, and natural resources policy;
           5. ciples to the basic and global agricultural community.
                                                                                     ethical questions; role and impact of technology. Crosslisted with:
           6. Understand relationships that exist between producers and
                                                                                     FSTE 2130G.
              consumers.
                                                                                     Learning Outcomes
                                                                                      1. Understand of global agriculture including production techniques
          AEEC 1120. Careers in Food and Agribusiness
                                                                                         used in various geographical regions, consumption trends, and
          1 Credit (1)
                                                                                         political and social constraints.
          This course provides an orientation to careers in agricultural economics
                                                                                      2. Synthesis information about agricultural issues and make informed
          and agricultural business. Students will learn about the agricultural
                                                                                         arguments
          supply chain in New Mexico, the United States, and the world. Students
                                                                                      3. Articulately discuss modern issues in agriculture
          will be introduced to faculty and staff within the department, learn about
                                                                                      4. Write coherent arguments relative to personal beliefs regarding
          career opportunities available to AEAB graduates, and develop a greater
                                                                                         agricultural issues
          appreciation of current agricultural issues. Freshman status or consent
          of instructor required. May be repeated up to 1 credit.
                                                                                     AEEC 2140. Technology and Communication for Business Management
          Learning Outcomes
                                                                                     3 Credits (2+2P)
           1. Become familiar with career opportunities in agricultural economics
                                                                                     This course helps students improve their skills related to data analysis,
              and agricultural business Understand knowledge and skills desired
                                                                                     information management, and communication. Drawing examples
              by employers Become acquainted with faculty and staff in the
                                                                                     from a variety of management, business, technological and research
              Department of Agricultural Economics and Agricultural Economics
                                                                                     situations, students discover the versatility and functionality of modern
              and resources available to students within the Department Refine
                                                                                     computer software. The course emphasizes a ‘hands-on’ approach. May
              written and verbal communication skills
                                                                                     be repeated up to 3 credits.
                                                                                     Learning Outcomes
          AEEC 2110. Principles of Food and Agribusiness Management
                                                                                      1. Demonstrate an understanding terms used to describe common
          3 Credits (3)
                                                                                         techniques and concepts in business information systems.
          This course introduces business management theory and application
                                                                                         Demonstrate mastery of spreadsheet design and use.
          of theory related to businesses within the food and fiber supply chain.
          Topics include management and financial principles, market planning,
                                                                                     AEEC 2996. Special Topics
          and organization theory. May be repeated up to 3 credits.
                                                                                     1-4 Credits
          Learning Outcomes
                                                                                     Specific subjects and credits to be announced in the Schedule of Classes.
           1. Demonstrate, refine and expand written and oral communication
                                                                                     Maximum of 4 credits per semester. No more than 9 credits toward a
              skills Develop an understanding of basic financial statements,
                                                                                     degree. Consent of instructor required.
              their use and analysis Understand the roles management and
                                                                                     Learning Outcomes
              management styles play in modern agribusiness Learn about the
                                                                                      1. Varies
              history of agribusiness domestically and internationally Integrate the
              role of technology into modern agribusiness management
                                                                                     AEEC 300. Internship
                                                                                     1-4 Credits (1-4)
                                                                                     Professional work experience under the supervision of a faculty member.
                                                                                     May be repeated up to 6 credits. Consent of Instructor required. Graded:
                                                                                     S/U Grading (S/U, Audit). Restricted to Las Cruces campus only.
                                                                                     Prerequisite(s): Consent of instructor.
          4       Agricultural Economics and Agricultural Business
          AEEC 305. Marketing and Food Agricultural Products                          AEEC 314. Agricultural and Natural Resource Law
          3 Credits (3)                                                               3 Credits (3)
          This course provides a review of marketing principles and techniques        This course discusses the relationship of common-law principles,
          used throughout the food and fiber supply chain. The course introduces a     statutory law and regulatory law to problems involving agriculture
          broad variety of marketing topics including marketing strategy, consumer    with an emphasis on New Mexico issues. Legal problems relevant
          behavior, market segmentation, market research, competitive analysis,       to agribusiness, torts, fencing laws, liability for agricultural pollution,
          and the marketing mix. The course serves as a foundation for advanced       irrigation water rights, corporations and partnerships, land tenure, farm
          courses in agricultural marketing. May be repeated up to 3 credits.         and ranch tenancy, agricultural labor, farm and ranch management, and
          Crosslisted with: MKTG 305.                                                 taxation.
          Prerequisite(s): ECON 1110G or ECON 2120G.                                  Learning Outcomes
          Learning Outcomes                                                            1. Understand the complexity of law as it relates to agriculture and
           1. Articulate how agricultural commodities move through the food               natural resources Develop a basic understanding of the legal system
              and fiber supply chain. Understand the importance of strategic               in the U.S. including the role of federal and state agencies responsible
              marketing and how organizations within the food and fiber supply             for agricultural and natural resource regulation Articulate at a
              chain identify consumers and their preferences Understand key               layperson's level, the roles of the legislative, judicial, and executive
              marketing concepts used by agribusiness marketers, including SWOT           branches of the government as they relate to agriculture and natural
              analysis, the marketing mix, advertising and public relations Know the      resources.
              basic outline and components of a marketing plan
                                                                                      AEEC 315V. World Agriculture and Food Problems
          AEEC 311. Financial Derivative Markets                                      3 Credits (3)
          3 Credits (3)                                                               This course examines key concepts and issues relevant to the world’s
          This course explores the role of financial derivatives in modern business,   food production systems. Topical highlights include the causes and
          including income generation, risk management, and price discovery.          consequences of hunger, agriculture’s economic and environmental
          Derivatives markets covered in the course include futures, options, and     significance, sustainable development, biotechnology, and globalization
          swaps. Course content focuses on the fundamentals of trading and            of agricultural markets. As students learn about these issues from both
          hedging in a wide variety of markets, e.g., agriculture, interest rates,    local and global perspectives they are engaged in the development of
          exchange rates. Students participate in simulated futures and options       both their literacy of economic concepts and their core research and
          trading. Same as AEEC/BFIN 511 with additional coursework required          communication skills. We do this through a combination of relevant
          at the graduate level. Cannot receive credit for both AEEC/BFIN 311 and     course readings, in-class discussion exercises, and focused writing
          AEEC/BFIN 511. Same as BFIN 311.                                            assignments on current issues of relevance. Same as GEOG 315V. May be
          Learning Outcomes                                                           repeated up to 3 credits.
           1. Understand and explain the concept of risk, list various sources of     Learning Outcomes
              risks observed in businesses, and identify common methods used           1. Demonstrate conceptual and systems thinking and design Assess
              to manage risk Demonstrate an understanding of the vocabulary               the nutrition and healthfulness of food choices Describe the structure
              associated with derivatives and derivative markets Articulate the           and function of food and agricultural systems Analyze roles of and
              role that derivative markets play in reducing risk and illustrate how       relationships between food producers, consumers, and policymakers
              they can be used in practice to reduce risk Illustrate how derivative       Apply basic economic concepts to describe and interpret food and
              markets can be used to generate income and manage risk through              agricultural issues Explain the environmental context and role of
              hedging                                                                     agriculture Articulate key arguments that favor and oppose food
                                                                                          biotechnology Recognize several of the benefits and barriers in
          AEEC 313. Food and Agricultural Sales
                                                                                          international trade of food and agricultural products
          3 Credits (3)
          This course reviews the techniques of salesmanship. Course topics           AEEC 337V. Natural Resource Economics
          include identification and classification of buyer type and different         3 Credits (3)
          approaches to sales based on client base. Improving oral communication      This course helps students gain insight into important natural resource
          skills through individual and/or group sales presentations. Students must   problems of our time. Apply economic principles to problems in the
          be in Junior or above standing to enroll.                                   preservation, use, and development of agricultural, range, mineral, water,
          Learning Outcomes                                                           forestry, fishery, and environmental resources. Understand the use of
           1. Analyze sales situations and effectively identify pathways to closing
                                                                                      cost-benefit analysis for government natural-resource projects, policies,
              the sale Demonstrate execution of the sales process – prepare, learn,
                                                                                      and programs. Same as ECON 337V. May be repeated up to 3 credits.
              communicate, evaluate Conduct product and customer analysis to
                                                                                      Prerequisite: ECON 1110G or ECON 2120G or ECON 2120H.
              build a sales strategy Exhibit enhanced relationship management and     Learning Outcomes
              communication skills                                                     1. Demonstrate knowledge of economic principles to better understand
                                                                                          natural resource issues Document understanding of current and
                                                                                          emerging natural resource issues Apply economic principles to guide
                                                                                          selected natural resource policy debates Demonstrate the application
                                                                                          of economic principles to inform policy debates addressing current
                                                                                          water resources issues
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