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

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: 979-845-8492 E-mail: ocapps@tamu.edu 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

TA Information: TBA Office: E-mail: Telephone: Office hrs:

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)

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

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

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)

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

Evaluation of Student Performance Exam 1 100 pts Exam 2 100 pts Exam 3 100 pts Class Project 100 pts Daily Review Questions Bonus Points (up to 40 pts) Final Exam (Cumulative) Optional 100 pts

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

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

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