MS

Academic Qualification for Admission into MS Program

Candidates for admission into an MS program must have a Bachelor of Science or an equivalent degree from a recognized University or Institute in respective discipline with excellent GPA or Class.

Minimum Course and Research Requirement for MS Degree

¹ Degree requirements may be changed on the recommendation of the Board of Studies and the Advisory Committee.

² Approved by the Advisory Committee

COURSES

AEC 501 Microeconomics I (3 cr): Economic theories of consumer and producer behavior: utility theory, price theory, demand and supply, theory of production, price and output determination in product and factor markets under conditions of perfect and imperfect competition; general equilibrium and welfare.

 AEC 502 Macroeconomics I (3 cr): Determination of income, employment, and prices according to classical and neo-classical models; self-adjusting mechanisms and effects of monetary and fiscal policies; national income accounting, inflation, unemployment, expectation, and their policy implications

AEC 503 Quantitative Methods in Economics (3 cr): Mathematical methods relevant to study of economics, methods of comparative-static analysis; techniques for analyzing optimum values using differential calculus, dynamic analysis and application of integral calculus. Matrix algebra and input-output analysis (Prerequisite AEC 501).

 AEC 510 Agricultural Production Economics (3 cr): Application of concepts and theories relating to agricultural production; input-output relationship, frontier production function and efficiency analysis; choice and decision making under risk; topic relating to utilization of scarce resources most efficiently and effectively for maximization of agricultural productivity; externality problem (Prerequisite AEC 501).

AEC 511 Farm Management (3 cr): Application of economics and business principles to the analysis, planning and organization of agricultural farms and business; use of analytical tools including mathematical programming and forecasting.

AEC 520 Agricultural Marketing and Trade (3 cr): Allocation efficacy of agricultural and food product markets; market structure and conduct; types of market coordination and their performance; theoretical and empirical approaches to the analysis of international trade in food and other farm products (Prerequisite AEC 501 & AEC 502).

AEC 521 Agricultural Price Analysis (3 cr): Demand analysis, elasticities and revenue functions, partial elasticities and flexibilities, demand elasticities for exhaustive set of commodities Brandow’s retail consumption model; margins and derived demand, farm level and retail level elasticities; general linear model of agricultural prices, supply response analysis, price index numbers, behavior of farm products prices, and forecasting of prices. (Prerequisites AEC 501, AEC 520)

AEC 531 Econometrics I (3 cr): General linear model; model specification; estimation procedures including generalized least squares, seemingly unrelated regressions, simultaneous equations; emphasis on applications and interpretations of results, multicollinearity, autocorrelation, heteroscedasticity. (Prerequisite STT 505).

AEC 540 Agricultural Development (3 cr): Role of agriculture in economic development; theoretical and policy issues in agricultural development; supply of and demand for agricultural resource and products; population pressure on land; value and use of resources; agricultural
development policy. (Prerequisites AEC 501, AEC 502, AEC 520 and AEC 550).

AEC 542 Financial Management in Agriculture (3 cr): Financial structure and financing sources of agriculture; risk and financial management; economic implications of time in financial analysis; cost of capital, farm growth, leverage, financial risk and liquidity management.

AEC 550 Resource and Environmental Economics (3 cr.): Economics criteria for natural resources and environmental quality management; economics of renewable and nonrenewable resource development and management sources of inefficient allocation of natural resource;
resource scarcity, economics of environmental quality with emphasis on externalities, social cost, pollution abatement and related policy.

AEC 551 Time Series Analysis (3 cr): Time series and stochastic process, approaches in time series analysis; basic concepts in time senes analysis; autocovariance and autocorrelation functions of stochastic models- stationary stochastic process, autocovariance and autocorrelation properties of stationary stochastic process; analysis and modeling of linear stationary processes- the general linear process, autoregressive process, moving average processes; tixed autoregressive- moving average (ARMA) processes; analysis and modeling of linear non-stationary processes: forecasting, modeling of seasonal time series, and multivariate time series analysis (Prerequisites AEC 501, STT 50S, AEC 531)

AEC 596 Reading and Conference (Credit to be arranged but not more than 3 cr.): Special study assigned by the major Professor on the recommendation of the advisory committee and/or interest of the student.

AEC 597 Special Problems (Credit to be arranged but not more than 3 cr.): Investigation of special problems not related to a thesis problem as assigned by the Major Professor.

AEC 598 Seminar (I cr): Discussion on an assigned topic in the field of agricultural
economics.

AEC 599 Thesis Research: (Credit to be arranged but not less than 12 cr.): Original thesis research.

 Note: Students having  CGPA below 3.0 will not be allowed to enroll AEC 596 or AEC 597 until he/she raised the CGPA to 3.00.