Courses in Agri-Business

Introduction to Agricultural Economics

AGEC 1100     3.00 Credits
Course Outline
This course is an introduction to agricultural economics. Economic concepts of the food, fiber, and fuel industry will be explored though problem solving exercises and graphical analysis. Consumer and business behavior will be analyzed under various market and regulatory conditions, with major focus spent on determining changes to equilibrium of aggregate supply and demand curves. Both microeconomic and macroeconomic factors will be defined and discussed in relation to global and local agribusiness value chains, including many factors affecting farmers in the American Midwest. (Prerequisite: None)

Principles of Farm Records

AGEC 1200     3.00 Credits
Course Outline
This course covers types of records, setup and use of a computerized record keeping software package, completion of a sample farm record problem with a computerized record program, a review of various recordkeeping systems, and selection and implementation of computerized record programs. Students will initiate records on a current farming operation. (Prerequisites: None)

Farm Business Planning & Analysis

AGEC 2250     4.00 Credits
Course Outline
This course covers closeout and analysis of a farm accounting problem or the student's own farm business. Also covered will be various analysis techniques, a comparative analysis of all farm production, efficiency and financial factors and a review of current tax management factors. The course will review enterprise, whole farm business and personal expenses in South Central Minnesota region. The course will also cover cash flows, business plans and enterprise budgeting. This course will focus on financial management records and the analysis of each production component of the business. Students will use FinPack software to complete their analysis and to develop business plans for their future business goals. (Prerequisites: AGEC 1200)

Commodity Marketing Principles

AGEC 2400     3.00 Credits
Course Outline
This course covers the principles of agricultural commodity marketing, including cash, forward, futures, and options contracts. Economic impacts on supply, demand, and equilibrium pricing for commodities will be explored. Students will participate in simulated marketing transactions and track local and terminal market pricing. (Prerequisite: AGEC 1100)

Commodity Marketing Strategies

AGEC 2450     2.00 Credits
This course covers strategies of commodity marketing of agricultural products. Students will apply marketing principles in various market situations. Students will work with forward contracts, basis contracts, futures contracts, and option strategies in agriculture commodities. Students will develop market plans for agribusiness marketing and input needs. (Prerequisites: AGEC 1100, AGEC 2400)

Agribusiness Transfer & Law

AGEC 2500     2.00 Credits
Course Outline
This course covers farm estate planning and law topics with direct application to production agriculture. Topics include federal and state estate tax laws and their impact on the transfer of agriculture property. Estate planning options such as wills, life insurance and trusts will be explored. Other topics include farm partnerships and corporations, agricultural legal case studies, basic contracts, legal land descriptions, fence regulations, animal legalities, water rights, bankruptcy, gifting, and liability issues. (Prerequisite: None)

Alternative Agriculture

AGEC 2600     2.00 Credits
Course Outline
One of the changes taking place in agriculture is an increasing interest in the production of alternative crop and animal enterprises. This class will examine and evaluate those enterprises. A look at the profitability, marketing and risks of producing a alternative product as well as the resources and information available to assist in developing a plan to produce an alternative product. The opportunities to produce a value-added product will be studied. A close look will be taken of producers currently raising and marketing alternative agriculture products.We will also examine the current factors driving the movement towards local foods and alternative enterprises. (Prerequisites: None)