Agricultural and Resource Economics (AREC)

College of Agriculture and Natural Resources
2200 Symons Hall, 301-405-1291
www.arec.umd.edu
undergraduateprogram@arec.umd.edu
Chair: L. Olson
Professors: R. Chambers, R. Just, E. Lichtenberg, R. Lopez, L. Lynch, K. McConnell, W. Musser, M. Nerlove
Associate Professors: A. Alberini, J. Hanson, H. Leathers, K. Leonard, D. Lipton, D. Parker, R. Williams
Assistant Professors: V. Hoffmann, C. Towe
Instructors: D. Johnson (Farm Management Specialist)
Affiliate Professors: P. Cramton, M. Cropper
Adjunct Professors: J. Chavas, J. Hoddinott, J. List, J. Quiggin
Adjunct Associate Professors: K. McNew
Professors Emeriti: F. Bender, N. Bockstael, E. Brown, J. Cain, J. Curtis, P. Foster, I. Hardie, D. Hueth, J. Moore, G. Stevens, I. Strand, D. Tuthill

The Major

Agricultural and Resource Economics majors complete a set of prerequisite courses, a core of classes offered by the Agricultural and Resource Economics Department, and one or more fields comprised of selected courses from outside the department. The core includes courses in economic reasoning, agribusiness management, environmental and resource policy, agricultural policy, economic development, and analytical methods. The program permits students flexibility in choosing fields to fit their career interests. Majors must complete one and are strongly encouraged to complete two fields. The curriculum balances breadth and depth, and lets students develop academic skills in two or more areas. The program provides a good foundation for careers in economics, resource or environmental policy, agribusiness, and international agriculture. Students are also able to minor in Agricultural and Resource Economics.

Double Majors
The department features a double major with Spanish for students interested in careers in multinational agribusiness firms or international agencies. It features a double major with Government and Politics for students interested in law school. Both can be completed within 120 credits. Other double majors are possible in consultation with an advisor.

Program Learning Outcomes

Upon completion of the degree program, students should have acquired the following knowledge and skills:

• An understanding of economic terms and concepts.
• An ability to draw inferences from data.
• A knowledge of relevant  laws, institutions, and policies.

 

Requirements for the Major

		Credits
	Prerequisite Courses
ECON200	Principles of Microeconomics	4
ECON201	Principles of Macroeconomics	4
ECON306	Intermediate Microeconomic Theory	3
ECON321	Economic Statistics, OR	3
BMGT230	Business Statistics
MATH220	Elementary Calculus I, OR	3
MATH140	Calculus I
STAT100	Elementary Statistics and Probability, OR	3
MATH111	Introduction to Probability
	Major Core Courses
	Seven of these courses must be successfully completed.
AREC404	Applied Price Analysis	3
AREC405	Economics of Production	3
AREC425	Economics of the Food Sector	3
AREC427	Economics of Commodity Marketing Systems	3
AREC433	Food and Agricultural Policy	3
AREC435	Commodity Futures and Options	3
AREC445	Agricultural Development in the Third World	3
AREC453	Economics of Natural Resource Use	3
AREC455	Economics of Land Use	3
AREC484	Introduction to Econometrics in Agriculture	3
AREC306	Farm Management	3
AREC382	Computer-Based Analysis in Agricultural and Resource Economics	3
AREC400s	any other 3 credit 400 level AREC course may be substituted with permission of advisor
	Fields
	All majors must complete one of the following fields. Two are strongly encouraged.
	Business Management
BMGT220	Principles of Accounting I	3
BMGT221	Principles of Accounting II	3
BMGT340	Business Finance	3
BMGT350	Marketing Principles	3
BMGT364	Management and Organization	3
BMGT380	Business Law I	3
BMGT300s	Other 300 level BMGT courses may be substituted, with permission of advisor. (The AREC department cannot authorize students to take BMGT courses that are restricted to business majors.)
	Total Credits	18
	Agricultural Science
	Six (or more) courses in agricultural science, including:
ENBE110	Introduction to Biological Resources Engineering	1
ENBE200	Fundamentals of Agricultural Mechanics	3
PLSC100	Introduction to Horticulture, OR	4
PLSC101	Introduction to Crop Science
ENST105	Soil and Environmental Quality	3
ANSC101	Principles of Animal Science	3
AGRI SCI	Other courses in agricultural science, chosen in consultation with an advisor. Substitutions to the above listed courses may be made with the permission of advisor.	4
	Total Credits	18
	Food Production
	Six courses from the following list:
PHYS117	Introduction to Physics, OR	4
PHYS121	Fundamentals of Physics
BSCI105	Principles of Biology	4
BSCI223	Introduction to Microbiology	4
NFSC100	Elements of Nutrition	3
NFSC112	Food Science and Technology	3
NFSC430	Food Microbiology	3
NFSC431	Food Quality Control	4
	Other courses related to food science can be substituted with permission of advisor.
	Total Credits	18
	Environmental and Resource Policy
	Six courses from the following list:
ECON481	Environmental Economics	3
ANTH450	Theory and Practice of Environmental Anthropology	3
HIST405	Environmental History	3
GEOG372	Remote Sensing	3
GEOG373	Geographic Information Systems	3
GVPT273	Introduction to Environmental Politics	3
GVPT306	Global Ecopolitics	3
	Other courses related to environmental policies or sciences can be substituted with permission of advisor.
	Total Credits	18
	International Agriculture
	Six courses from the following list:
ECON305	Intermediate Macroeconomics	3
ECON315	Economic Development of Underdeveloped Areas	3
ECON340	International Economics	3
GEOG422	Population Geography	3
GVPT200	International Political Relations	3
GVPT350	International Relations in the Third World	3
ENST440	Crops, Soils and Civilization	3
PLSC303	International Crop Production	3
	Other courses related to international economics, business, politics, or agriculture can be substituted with permission of advisor.
	Total Credits	18
	Political Process
GVPT	Any six courses in government and politics, chosen with permission of the advisor.	18
	Total Credits	18
	Advanced Degree Preparation
	Six (or more) courses from the following list:
ECON407	Advanced Macroeconomics	3
ECON414	Game Theory	3
ECON415	Strategic Behavior and Incentives	3
ECON422	Quantitative Methods in Economics I	3
ECON423	Quantitative Methods in Economics II	3
ECON425	Mathematical Economics	3
MATH141	Calculus II	4
MATH240	Introduction to Linear Algebra	4
MATH241	Calculus III	4
	Other courses in mathematics, statistics, or econometrics may be substituted with permission of advisor.
	Total Credits	18
	Student Designed Field
	This field requires a written proposal listing at least six courses totaling at least 18 credits. The proposal must be submitted to the Undergraduate Committee of the AREC department. Committee approval must be obtained 30 or more credit hours before graduation. A student designed field may be used to study a foreign language as part of the AREC curriculum.	18
	Total Credits	18

Other Requirements for the Major

All courses must be passed with a grade of C or better  to count towards prerequisite courses, major core courses, or field requirements.  "C or better" means any grade for which the University awards 2 or more quality points in calculating GPA.

Requirements for the Minor

Three minors exist in AREC, Agribusiness Economics, Resource and Agricultural Policy in Economic Development, and Environmental Economics and Policy.  Requirements are listed below:

		Credits
	Agribusiness Economics
AREC250	Elements of Agricultural and Resource Economics	3
AREC404	Applied Price Analysis	3
AREC405	Economics of Production	3
AREC425	Economics of Food Sector	3
AREC435	Commodity Futures and Options	3
	Another AREC course can be substituted for one of the courses listed with permission of the Undergraduate Advisor.
	Total Credits	15
	Resource and Agricultural Policy in Economic Development
AREC250	Elements of Agricultural and Resource Economics	3
AREC365	World Hunger, Population and Food Supplies	3
AREC433	Food and Agricultural Policy	3
AREC445	Agricultural Development, Population Growth, and the Environment	3
AREC453	Natural Resources and Public Policy	3
	Another AREC course can be substituted for one of the course listed with permission of the Undergraduate Advisor.
	Total Credits	15
	Environmental Economics and Policy
AREC240	Introduction to Economics and the Environment	3
AREC332	Introduction to Natural Resource Policy	3
AREC382	Computer-based Analysis in Agricultural and Resource Economics	3
AREC445	Agricultural Development, Population Growth, and the Environment	3
AREC455	Economics of Land Use	3
	Another AREC course can be substituted for one of the course listed with permission of Undergraduate Advisor.
	Total Credits	15

Advising

Because the program is flexible, advising is mandatory every semester. Appointments may be made in Room 2200 Symons Hall, 301-405-1291.

Scholarships and Financial Assistance

AREC offers scholarships to AREC undergrads. These awards are based on merit and are in addition to any funding received from the campus or from the college.  Currently, scholarship awards are available to the full-time AREC majors with the highest GPAs.  They are determined on a semester basis and depend on the availability of funds.  Scholarship awardees are required to conduct themselves in accordance with the rules and regulations of the University.

The Office of Student Financial Aid (OSFA) administers all types of federal, state and institutional financial assistance programs and, in cooperation with other university offices, participates in the awarding of scholarships to deserving students. For information, visit: www.financialaid.umd.edu .

Awards and Recognition

Scholarships honoring Arthur and Pauline Seidenspinner and Ray Murray are available. Contact a faculty advisor for more information, 301-405-1291.

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