| 12/21/2024 5:57:47 AM |
| Changed Course |
| CATALOG INFORMATION
|
| Discipline and Nbr:
AGBUS 7 | Title:
AG ECON |
|
| Full Title:
Agricultural Economics |
| Last Reviewed:9/24/2018 |
| Units | Course Hours per Week | | Nbr of Weeks | Course Hours Total |
| Maximum | 3.00 | Lecture Scheduled | 3.00 | 17.5 max. | Lecture Scheduled | 52.50 |
| Minimum | 3.00 | Lab Scheduled | 0 | 3 min. | Lab Scheduled | 0 |
| | Contact DHR | 0 | | Contact DHR | 0 |
| | Contact Total | 3.00 | | Contact Total | 52.50 |
| |
| | Non-contact DHR | 0 | | Non-contact DHR Total | 0 |
| | Total Out of Class Hours: 105.00 | Total Student Learning Hours: 157.50 | |
Title 5 Category:
AA Degree Applicable
Grading:
Grade Only
Repeatability:
00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As:
Formerly:
AG 7
Catalog Description:
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Introduction to the economic aspects of agriculture and their implications to the market. The role of agricultural resources (land, labor, capitol management), major agricultural resource issues and their policy remedies. Includes an examination of market structure and price as marketing factors for agricultural products and inputs.
Prerequisites/Corequisites:
Recommended Preparation:
Eligibility for ENGL 100 or ESL 100
Limits on Enrollment:
Schedule of Classes Information
Description:
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Introduction to the economic aspects of agriculture and their implications to the market. The role of agricultural resources (land, labor, capitol management), major agricultural resource issues and their policy remedies. Includes an examination of market structure and price as marketing factors for agricultural products and inputs.
(Grade Only)
Prerequisites:
Recommended:Eligibility for ENGL 100 or ESL 100
Limits on Enrollment:
Transfer Credit:CSU;UC.
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP
ARTICULATION, MAJOR, and CERTIFICATION INFORMATION
| Associate Degree: | Effective: | Fall 1981
| Inactive: | |
| Area: | D
| Social and Behavioral Sciences
|
| |
| CSU GE: | Transfer Area | | Effective: | Inactive: |
| | D | Social Science | Fall 1997 | |
| | D2 | Economics | | |
| |
| IGETC: | Transfer Area | | Effective: | Inactive: |
| |
| CSU Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
| |
| UC Transfer: | Transferable | Effective: | Fall 1999 | Inactive: | |
| |
| C-ID: |
| CID Descriptor: AG - AB 124 | Agriculture Economics | SRJC Equivalent Course(s): AGBU7 |
Certificate/Major Applicable:
Both Certificate and Major Applicable
COURSE CONTENT
Outcomes and Objectives:
At the conclusion of this course, the student should be able to:
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Upon successful completion of this course, the student will be able to:
1. Discuss career opportunities and requirements for successful
employment in agriculture.
2. Discuss the major components of the traditional circular flow
diagram to describe the macro-operation of an economy.
3. Discuss the extent of the farm and food system in the United
States and dimensions of American agriculture.
4. Evaluate the consumer's role in market demand for agricultural
products.
5. Discuss production and cost theory and the influence of
technological changes on firms producing basic commodities.
6. Computer graph and analyze utility maximization, market demand,
shifts of demand, cross elasticity, and income elasticity.
7. Define and discuss supply and the source of the market supply
curve.
8. Identify changes and shifts in market supply.
9. Compute, graph, and analyze elasticity of supply.
10. Compute, graph, and analyze equilibrium and disequilibrium in
the market.
11. Discuss the impact of a shift in supply and demand.
12. Identify and analyze basic economic concepts involved in profit
maximization and in price determination, effective supply an
demand.
13. Problem solve, graph, and analyze production costs, supply, and
relationships in the agriculture business.
14. Discuss and analyze important problems such as chronic low price
and widely oscillating prices.
15. Discuss and analyze how economic concepts can be used to explain
the most profitable amount of a product for the firm to produce.
16. Discuss and analyze how economic concepts can be used to explain
the least-cost combination of inputs to use to produce a
specified level of an agricultural product; and the revenue
maximizing levels of two or more products with a limited amount
of resources.
17. Discuss and explain competition and imperfect competition in the
market.
18. Identify marketing channels for agricultural commodities.
19. Discuss marketing and government programs in agriculture.
20. Explain the role of natural and human resources in agriculture
economic performance, growth, and development.
Topics and Scope
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I. Career Opportunities for Agribusiness Graduates
II. Definition and Scope of Agriculture Economics
III. The Farm and Food System
A. Scope, health, and extent of production agriculture
1. Business structure of farms
2. Economic size classes of farms
3. Vertical coordination and farmer cooperatives
4. Farm output and agribusiness complex
B. International trade in agricultural products
C. Overview of an economic system
D. Micro versus macroeconomics - basic assumptions
IV. Consumer Behavior and Demand
A. Consumers/consumption
1. Role of
2. Why consume
3. Trends in consumption
4. Income elasticity
V. Input - Output Model
A. Production Function
B. Average and marginal physical products
C. Stages of production
D. Profit maximization
VI. Costs of Production
A. Total, average, and marginal costs related to level of output
B. Pure competition in production agriculture and resultant revenue
functions
C. Profit maximizing level of production for a pure competitor.
D. Economics and diseconomics of size and scale.
VII. Input-Input Analysis
A. Production surface
B. Isoquants and marginal rate of substitution
C. Isocosts and the negative inverse price ration
D. Cost maximization
VIII.Output-Output Analysis
A. Production possibilities curves
B. Isorevenue functions
C. Revenue Maximization
IX. Concept of Supply
A. Definitions of supply
B. Source of the market supply curve
C. Changes and shifts in market supply
D. Elasticity of supply
X. Market Price Determination
A. Equilibrium in the market
B. Disequilibrium in the market
C. Impact of a shift in supply and demand
XI. Market Structure
A. Competition and the market
B. Imperfect competition and market regulation
C. Antitrust laws and agricultural bargaining
XII. Market Channel Orientation
A. Marketing agricultural commodities
B. Approaches to the study of marketing
C. Marketing margins
XIII.Solutions to the Farm Problem
A. Orientation to cooperatives
B. Marketing orders and government programs
X. Natural Resources
A. Natural resources used by agriculture
B. Natural resources issues and resulting policy
Assignments:
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1. Problem sets
2. Term paper of 8 to 10 pages
3. Two unit exams and final comprehensive exam
4. Reading of approximately 30 pages per week.
Methods of Evaluation/Basis of Grade.
| Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing. | Writing
20 - 25% |
| Term papers | |
| Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills. | Problem Solving
20 - 30% |
| Homework problems | |
| Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams. | Skill Demonstrations
15 - 20% |
| Class performances | |
| Exams: All forms of formal testing, other than skill performance exams. | Exams
30 - 40% |
| Multiple choice, True/false, Matching items, Completion, Short answer, essay. | |
| Other: Includes any assessment tools that do not logically fit into the above categories. | Other Category
0 - 0% |
| None | |
Representative Textbooks and Materials:
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Agriculture Economics and Agribusiness. Cramer, Gail L. and Jensen, Clarence W.; John Wiley and Sons Publishers, 2004.
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