SRJC Course Outlines

10/1/2022 5:05:24 PMAGBUS 7 Course Outline as of Fall 2009

Changed Course
CATALOG INFORMATION

Discipline and Nbr:  AGBUS 7Title:  AG ECON  
Full Title:  Agricultural Economics
Last Reviewed:9/24/2018

UnitsCourse Hours per Week Nbr of WeeksCourse Hours Total
Maximum3.00Lecture Scheduled3.0017.5 max.Lecture Scheduled52.50
Minimum3.00Lab Scheduled03 min.Lab Scheduled0
 Contact DHR0 Contact DHR0
 Contact Total3.00 Contact Total52.50
 
 Non-contact DHR0 Non-contact DHR Total0

 Total Out of Class Hours:  105.00Total 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: Untitled document
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:
 DSocial ScienceFall 1997
 D2Economics  
 
IGETC:Transfer Area Effective:Inactive:
 
CSU Transfer:TransferableEffective:Fall 1981Inactive:
 
UC Transfer:TransferableEffective:Fall 1999Inactive:
 
C-ID:
 CID Descriptor: AG - AB 124 Agriculture Economics SRJC Equivalent Course(s): AGBUS7

Certificate/Major Applicable: Both Certificate and Major Applicable



COURSE CONTENT

Outcomes and Objectives:
Upon completion of the course, students will 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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