MS in Agricultural and Applied Economics
Expand your economics expertise with agricultural knowledge.
Prepare for a career in private and public sectors or further graduate study through advanced training in economic analysis, quantiative methods, and applied research. Our rigorious coursework and faculty mentorship allow you to develop the skills to address challenges involving agriculture, food systems, markets, economic development, the environment, and natural resources.
Requirements
Theory and Quantitative Requirements (19 hours)
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This course is designed to build upon the intermediate microeconomics course with the intent to further investigate the efficiency and equity impacts on social welfare. Students are introduced to risky choice, alternative market structures and missing markets and will be expected to learn how decentralized decisions will result in a Pareto--optimal allocation of resources provided there are no missing targets.
Students will learn how to think as an economist in addressing the problems of income inequity, negative externalities, nonrival commodities, and information symmetries.
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Applied Economics teaches students a comprehensive set of statistical tools and research designs that are useful in conducting high-quality empirical research on topics in applied microeconomics. This course introduces students applied econometric techniques and a variety of models that are used when the linear model is inadequate.
This course has a special emphasis on the analysis of individual or firm-level data derived from the economic behavior of individual and firms.
Research and Thesis
AAEC/ENVM Course Electives (12 hours, must be 6000 or above)
These hours cannot include the theory and quantitative requirements, AAEC 7300, or AAEC 7000.
Below are the recommended electives for students enrolled in Master of Science in Agricultural and Applied Economics.
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In Rural Economic Development and Growth, students will use economic theory to analyze problems of rural and regional development, familiarize tools that are useful in the analysis of rural and regional development, and understand the role and ability of government policies to influence rural and regional growth and development.
Graduate students are required to write a term paper.
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Futures and Options Markets is designed to explain the foundational principles of futures and options markets, including their terminology and mechanics, and their role in price discovery and risk management. Students will analyze and evaluate hedging strategies, implement a trading strategy, and assess the pricing and valuation of futures, forward, and options contracts using fundamental economic principles and quantitative methods.
Graduate students are required to write a research paper relevant to futures and options trading, hedging, or regulatory changes, and the topic must be approved by the instructor.
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Survey Design and Experimental Economics provides an advanced introduction to the development, implementation, and analysis of surveys and experiments to collect primary data for economic research. Students will gain the foundation and experience needed to effectively design, administer, and analyze economic surveys and experiments and gain first-hand experience with experimental research.
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Principles of Resource Economics explores basic theoretical concepts and analytical tools necessary to evaluate resource use, allocation, and policy.
Graduate students will complete additional reading, two referree reports of published or working papers in the natural resource economics literature, and a term paper.
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Water Resource Economics and Management covers economic concepts and tools relevant to water allocation and use and connections between hydrologic cycle, economic activity and ecological health.
Graduate students will complete extended readings focused on technical aspects of theoretical and empirical models and do a directed research project through individual meetings with the professor.
Other Requirements:
Successful Completion of the Institutional Review Board online training module
Preparation of an acceptable thesis.
Preparation of a draft article for publication in an academic journal.
Preparation of a thesis seminar.
Passing of a final oral examination.
