1. Economic Analysis for Agribusiness and Management
AGEC 317
Economic Analysis for Agribusiness and Management

2. About Your Instructor
Dr. Oral Capps, Jr., Executive Professor & Co-Director of The Agribusiness, Food and Consumer Economics Research Center (AFCERC) Office: 371C AGLS Building Phone: Office hours: TR 9:30 a.m. to 10:30 a.m. TR 3:30 p.m. to 5:00 p.m. MW 9:30 a.m. to Noon MW 1:30 p.m. to 3:30 p.m. or by appointment

3. TA Information: TBA
Office:
Telephone:
Office hrs:

4. AGEC 317 Goals: Textbooks (REQUIRED):
Better understand managerial and economic issues in agribusiness management
Provide exposure in using formal quantitative analysis to solve economic problems
Provide a differentiated product in analyzing real world problems and gain confidence in thinking like an economic or business analyst
Textbooks (REQUIRED):
Managerial Economics, Twelfth edition by Mark Hirschey (Chapters 1-9 and 16)

5. Prerequisites for AGEC 317
MATH 142 or equivalent
STAT 303 or equivalent
ECON 323 or equivalent
Junior or Senior classification, AGEC or AGBU majors

6. Topics Review of Key Algebraic Concepts/Calculus
Univariate Optimization – Use of Calculus
Demand Analysis
Risk Analysis
Regression (Estimation and Inference)
Forecasting
Use of SAS
Multivariate Optimization – Use of Calculus
Linear Programming

7. Key Dates Exam 1: September 29 Exam 2: October 27 Exam 3: December 1
Class Project Team Selection: September 27
Last Day to Q-drop: November 4
Bonfire 1999 Remembrance Day: November 18
Class Project Due: November 23
Thanksgiving Holiday: November 24-25
Last Day of Fall Semester classes: December 6
Final Exam Days for AGEC 317: December 9 (Sect. 502) or December 12 (Sect. 501)

8. Specific Expectations
Understand demand and supply relationships
Solve optimization problems (either calculus-based or linear programming)
Conduct regression analysis and interpret results
Conduct tests of hypotheses within a regression analysis
Use the SAS software package for regression analysis
Make projections or forecasts
Understand decision-making under uncertainty
Ability to communicate quantitative results to decision-makers

9. Evaluation of Student Performance
Exam pts
Exam pts
Exam pts
Class Project pts
Daily Review Questions Bonus Points (up to 40 pts)
Final Exam (Cumulative) Optional 100 pts

10. Steps Toward Success Have a positive attitude!!!
Come to lectures, class participation
Review lecture notes
Speak up in class if you are confused or require clarification on concepts
Come to help sessions
Work diligently on the class project
Check material on my webpage

11. Help Sessions Exam 1 September 28 7:30 p.m. to 9:30 p.m., AGLS 115
Exam 2 October 26 7:30 p.m. to 9:30 p.m., AGLS 115
Exam 3 November 30 7:30 p.m. to 9:30 p.m., AGLS 115
Help sessions also are scheduled every Wednesday evening beginning September 7 from 7:30 p.m. to 9:30 p.m. in AGLS 115

12. Can We Study in a Group? Yes!!! Studying in a group is encouraged.
For the class project, working on a team of three individuals is required.
But...
You take individual responsibility for learning the material
Make sure YOU can do the assignments
The assignments are very similar to in-class test questions