Introduction
to Agriculture Business AGT 101
Spring 2005
Class
Schedule: W 115 MW
F
Hours Credit: 3 hours credit; 2 hours lecture and 2 hours lab per week
Final
Exam: Wednesday, May 4,
at
Instructor: Dearl Lampley
Office: Warf 226 A
Phone: 931-540-2678 Weather line: 931-540-2515
E-Mail: Lampley@columbiastate.edu
Office Hours: Posted on office door.
Webpage: dlampley.columbiastate.edu
Required Text: Principles of Agribusiness Management, 3rd ed., Beierlein/Schneeberger/Osburn, Waveland Press, Inc. 2003.
Course Description: Scope, importance, and relationship of agribusiness to the general economics as well as practical applications of agribusiness and an introduction to the theories of agricultural economics.
I. Course Objectives
1. To develop an understanding and appreciation of the asocial sciences as they relate to agriculture and the position of agriculture in the American economy.
2. To introduce the student to the field of agricultural economics and some of the basic concepts and tools of economic decision-making.
3. To develop the ability to research, interpret, and arrange social science data.
4. To provide a foundation for further study in the field of agriculture economics.
5. To be able to define and discuss the following principles of economics:
|
Index numbers |
Parity |
Law of diminishing returns |
|
Profit maximization |
Law of comparative advantage |
Explicit costs |
|
Implicit costs |
Variable costs |
Law of supply |
|
Supply and demand elasticity |
Cochrane’s treadmill |
Innovative farmers |
|
Disposable income |
|
Production responses |
|
|
Economizing process |
Mean, Median, Mode, Range |
|
Normal curve |
|
Fixed cost |
|
Law of demand |
Correlation |
Value added products |
|
Cobweb theorem |
Production function |
Marginal utility |
|
Long run Vs. Short run |
Scientific method |
Standard deviation |
|
Determinants of supply and demand elasticity |
|
|
II. Course Outline
A. Introduction
1. Scope of
agriculture economics in
2. Scope of
agriculture economics in
B. Data Description
C. Data Presentation
D. Agriculture Economics
1. Introduction
2. Macroeconomics
3. Microeconomics
a. Production functions
b. Costs, supply, and revenue
c. Consumption and demand
d. Profit maximization
e. Types of businesses
E. Personal Finance
F. Business Applications
1. Employment
2. Job interview
3. Taxes
4. Loans
5. Budgets
G. Stock market
H. Commodities market
I. Short topics
1. Farm Topics
2. Farm organizations and government agencies
III. Grading Policy
Mid-Term 25%
Final 25%
Friday Quizzes 25%
Lab* 25%
Total 100%
IV.
Grading Scale
90 – 100 A
80 – 89 B
70 – 79 C
60 – 69 D
Below 60 F
Lab
grades will include the following: 2
presentations, a resume, and a job interview.
Extra credit will be given for a stock market project.
V. Policies
Attendance: Perfect attendance including no tardiness
will result in the addition of 2 extra points to your final grade. Last day to drop is
Others: See the current Columbia State Community College Catalog for student responsibilities.
VI. Grades
Grades are not mailed to students. You must access grades through Web for Students (www.columbiastate.edu) five (5) working days after grades are required in Admissions. Students needing official copies of grades must request it in writing from the Office of Admissions and Records. Call the transcript information line at 931-540-2550 for detailed instructions. Students may print a copy of their grades from Web for Students.
VII. Emergencies
In the case of an emergency, all students are to follow the directions given by the instructor.
VIII. Americans with Disabilities Act
*In compliance with
the Americans with Disabilities Act, students are encouraged to register with
the office of Counseling/Disability Services for possible assistance with
accommodations. It is the student’s responsibility to voluntarily and
confidentially provide appropriate documentation regarding the nature and extent
of a disability. Students requesting special accommodations are
(strongly) encouraged to contact the office of Counseling/Disability Services
at the beginning of the semester.