ECONOMIC DECISION ANALYSIS

AAE 625

Includes a sequential study of subject material in agribusiness management and managerial economics related to the management of agricultural businesses. Topics related to agribusiness management in the U.S., including organizational structure, marketing, strategy, financial statements, financing and production planning. Concepts from managerial economics as applied to the agribusiness firm, including production theory, cost analysis, pricing strategies, cost-benefit analysis, investment decisions and competition strategies.

AAE 601

Micro- and macroeconomic analysis of consumer behavior, markets, business strategy and government policy. Topics include supply and demand, equilibrium, elasticity, welfare, trade, externalities, market structure, economic growth, unemployment, and inflation.

AAE/ECON 526

Use of quantitative methods (mathematics, statistics, and optimization) to analyze problems faced by decision makers in natural resources and agriculture. Extensive homework requiring use of quantitative methods via spreadsheet tools to solve problems from an applied decision context.

AAE 705

Focuses on developing a conceptual as well as empirical analysis of microeconomic behavior, including production and consumption analysis, technical change, and investment. Emphasizes empirical applications of microeconomics, with implications for efficiency and welfare analysis. Knowledge of statistics such asSTAT/​MATH  309is recommended.

AAE 635

Microeconomic theory applied to consumers, producers, markets, and welfare analysis. Emphasis is on the mathematics of duality and optimization methods. Computer applications of the theory. One semester of linear algebra highly recommended.