Skip to Main Content

The University of Tennessee | Institute of Agriculture

Department of Agricultural and Resource Economics

Frequently Used Tools:




Graduate Courses

AREC 412 - Agricultural Finance
3 credit hours

Macro-finance, financial objectives, acquisition of debt and equity funds, capital investments, capital allocation, debt repayment, credit analysis, borrower and lender loan application analysis, insurance strategies, computer applications, kinds and sources of agricultural credit, and financial intermediation.
(RE) Prerequisite(s): 212 and Accounting 200 or graduate standing.
Recommended Background:Introductory economics and microcomputer competence.

AREC 420 - International Agricultural Trade and Marketing
3 Credit Hours

Introduction to real and monetary aspects of international trade effect on agricultural commodity flows; partial equilibrium analysis of international trade in agricultural products; institutional aspects of international marketing of agricultural products.
(RE) Prerequisite(s): 320 or Economics 311 or graduate standing.

AREC 430 - Food and Agricultural Policy
3 Credit Hours

Values, goals and policy process. Economic rationale and effects of policy. Historical development and current characteristics of commodity, credit, food, and trade policy.
(RE) Prerequisite(s): 320 or Economics 311 or graduate standing.

AREC 442 - Agribusiness Management
3 Credit Hours

Advanced concepts in developing business and marketing plans and in applied management principles such as inventory control and pricing techniques. Discussion of management issues including going international, employee supervision, management succession and guerilla marketing. Teamwork emphasized in managing an agribusiness firm through game simulation. Written and oral presentation required.
(RE) Prerequisite(s): 212 and Accounting 200 or graduate standing.
Recommended Background: Intermediate microeconomics
.

AREC 445 - Economics of Biomass for Renewable Energy
3 Credit Hours

Overview of the economics of renewable energy and the potential role for biomass. Assessment of the economic, environmental, and policy forces that are shaping the bioenergy industry. Exploration of methods for evaluating the economic feasibility of bioenergy feedstock production, logistics, and conversion.
(RE) Prerequisite(s): 201 or Economics 201 or graduate standing.

AREC 460 - Rural Economic Development
3 Credit Hours

Use of economic principles in understanding rural economic development at community and regional levels, emphasizing the linkages between rural and urban communities, business location decisions, and how geography shapes markets. Integrating historical and current information, students will explore efficiency and equity as driving forces behind public and private sector policy to encourage, manage and forecast domestic and international development.
(RE) Prerequisite(s): 320 or ECON 311 or graduate standing.

AREC 470 - Policy Analysis for Environmental and Natural Resource Management
3 Credit Hours

Application of a policy analysis framework to conflicts and issues associated with natural resource use and related environmental quality impacts. Design of institutional changes to improve economic efficiency and equity, with emphasis on the potential applicability of market-type and incentive-based policy mechanisms.
(RE) Prerequisite(s): 201 or Economics 201 or graduate standing.

AREC 500 - Thesis
1-15 Credit Hours


Grading Restriction: P/NP only.
Repeatability: May be repeated.
Credit Level Restriction: Graduate credit only.
Registration Restriction(s): Master of Science - agricultural economics major. Minimum student level – graduate.

AREC 502 - Registration for Use of Facilities
1-15 Credit Hours

Required for the student not otherwise registered during any semester when student uses university facilities and/or faculty time before degree is completed.
Grading Restriction:Satisfactory/No Credit grading only.
Repeatability: May be repeated.
Credit Restriction: May not be used toward degree requirements.
Credit Level Restriction: Graduate credit only.
Registration Restriction(s): Minimum student level – graduate.

AREC 505 - Microeconomic Analysis
3 Credit Hours

Theory of utility maximization and demand, production, cost, firm behavior, and supply; price in product and factor markets; efficiency and welfare.
Recommended Background: Calculus and intermediate microeconomics courses.

AREC 512 - Advanced Agribusiness Finance
3 Credit Hours

Financial and investment analysis tools and concepts and their application to decisions faced by agribusiness. Emphasis on financial analysis and planning principles, capital budgeting, debt structure and financing, options, present value concepts, and risk analysis.
Recommended Background: Senior-level finance course.

AREC 520 - Research Methodology in Agricultural Economics
1 Credit Hours

An overview of the logic and process of economic inquiry. Topics covered include the relationship between theory and applied research, problem formulation, definition of research problems, development of research problem statements with goals and objectives, and presentation and interpretation of results.

AREC 524 - Econometric Methods in Agricultural Economics
3 Credit Hours

Application of statistical methods to agricultural economic models; estimation of supply, demand and production functions; microeconomic forecasting models; interpretation of results.
Recommended Background: Calculus and statistics courses.

AREC 525 - Agribusiness Operations Research Methods
3 Credit Hours

Applications of operations research methods and concepts for agribusiness. Theoretical background and applied considerations of each technique with emphasis on applications. Computer and other applications of each technique for relevant agribusiness problems.
Recommended Background: Calculus and intermediate microeconomics courses.

AREC 530 - Agricultural Policy Analysis
3 Credit Hours

Evaluation of public policy as related to agricultural industry and rural areas.

AREC 542 - Advanced Agribusiness Production Decisions
3 Credit Hours

Decision theory concepts and tools for analyzing agribusiness decision problems; modeling choices using decision trees and sensitivity analysis; incorporating uncertainty into decision models using probability theory and simulation; modeling preferences using utility theory and risk attitudes.
(RE) Prerequisite(s): 505.

AREC 550 - Advanced Agribusiness Marketing
3 Credit Hours

Use of economic concepts in agribusiness marketing decisions. Analysis of agricultural markets; buyer behavior in food and fiber markets; competitive environment. Profitability analysis of marketing and distribution decisions; market planning and strategy; product evaluation and new product introduction; pricing decisions.
(RE) Prerequisite(s): 505.

AREC 570 - Advanced Natural Resource Economics
3 Credit Hours


Analysis of natural resource allocation issues; applied welfare economics, external effects and evaluation of public policy.
Recommended Background: Calculus and intermediate microeconomics.

AREC 593 - Special Topics in Agricultural Economics
1-3 Credit Hours

Topics to be assigned.
Grading Restriction:Satisfactory/No Credit grading only.
Repeatability: May be repeated. Maximum 9 hours.

AREC 595 - Professional Internship
3 Credit Hours

Supervised internship experience with appropriate agribusiness firm.

AREC 600 - Doctoral Research and Dissertation
3-15 Credit Hours

Grading Restriction: P/NP only.
Repeatability: May be repeated.
Registration Restriction(s): Minimum student level – graduate.

AREC 640 - Agricultural Production and Supply Analysis
3 Credit Hours

Advanced topics in agricultural production economics and supply analysis with emphasis on optimization modeling, duality, flexible production systems, efficiency and nonparametric analysis, risk, contracting, incentive systems, cooperative efforts, and the roles of information, insurance and credit.
(RE) Prerequisite(s): Economics 511 and 512.
Registration Restriction(s): Minimum student level – graduate.

AREC 650 - Agricultural Markets and Demand Analysis
3 Credit Hours

Advanced theory and topics in market and price analysis; technical and pricing efficiency in agricultural markets; interregional and international competition; consumer demand.
(RE) Prerequisite(s): Economics 511 and 512.
Registration Restriction(s): Minimum student level - graduate.

AREC 670 - Advanced Topics in Natural Resource Economics
3 Credit Hours

Applications of microeconomic theory to the use, allocation and control of scarce, exhaustible, and renewable natural resources, including soil, water, minerals, forests, and fish, in both static and dynamic contexts. Optimal control theory, dynamic programming, supply of, and demand for, natural resources, social versus private decisions, market and non-market considerations, regulation, uncertainty, property rights, equity considerations, and landscape pattern and change.
Recommended Background: Advanced microeconomics course.
Registration Restriction(s): Minimum student level – graduate.