U of G undergraduate students will soon have two new ways to explore economics, business and policy through the Department of Food, Agricultural and Resource Economics (FARE).
Beginning in the 2027-28 academic year, the University of Guelph will offer two new minors: Agricultural Economics and Business, and Natural Resource Economics and Policy. Each minor requires 3.0 credits, combining required courses with electives. They offer students opportunities to develop economic reasoning, analytical skills and decision-making abilities while exploring issues relevant to the agri-food sector, business, environmental management and public policy.
Agricultural Economics and Business minor
Explore the economics and business decisions that shape the agri-food industry.
The Agricultural Economics and Business minor introduces students to the structure and performance of agriculture and food systems, including the economic forces that influence them.
Students develop knowledge of economic principles, market and policy analysis, and business management in the agri-food industry. The minor also emphasizes analytical and decision-making skills relevant to agribusiness, policy and resource management, alongside an awareness of contemporary issues in global food systems.
Required courses
Students must complete the following courses:
- FARE*1400 – Economics of the Agri-Food System (1.0 credit)
- FARE*2410 – Agri-food Markets and Policy (0.5 credit)
- FARE*4220 – Advanced Agribusiness Management (0.5 credit)
- FARE*4240 – Futures and Options Markets (0.5 credit)
Elective courses
Students can select electives from the following options to complete the 3.0-credit requirement:
- FARE*3310 – Operations Management (0.5 credit)
- FARE*3170 – Cost-Benefit Analysis (0.5 credit)
- FARE*3320 – Supply and Value Chain Management (0.5 credit)
- FARE*4000 – Agricultural and Food Policy (0.5 credit)
- FARE*4370 – Food and Agri-Marketing Management (0.5 credit)
- FARE*4500 – Decision Science (0.5 credit)
- FARE*4550 – Independent Studies I (0.5 credit)
- FARE*4560 – Independent Studies II (0.5 credit)
Who can take this minor?
The minor cannot be combined with a major in Food and Agricultural Business or Food, Agricultural and Resource Economics.
Natural Resource Economics and Policy minor
Use economics and policy analysis to understand environmental and natural resource challenges.
The Natural Resource Economics and Policy minor explores how economic reasoning and quantitative analysis can help address contemporary environmental and natural resource issues.
Students build a foundation in microeconomic principles, resource management and policy evaluation, with applications to energy, water, forests and biodiversity. The minor also provides opportunities to learn about Indigenous land-use issues and perspectives.
Required courses
Students must complete the following courses:
- FARE1040 – Introduction to Environmental Economics, Law and Policy (1.0 credit), or ECON1050 – Introductory Microeconomics (0.5 credit)
- FARE*2700 – Natural Resource Economics and Policy (0.5 credit)
- FARE*3170 – Cost-Benefit Analysis (0.5 credit)
Elective courses
Students can select from the following electives to complete the 3.0-credit requirement:
- FARE*4000 – Agricultural and Food Policy (0.5 credit)
- FARE*4290 – Land Economics and Policy (0.5 credit)
- FARE*4310 – Resource Economics and Policy (0.5 credit)
- FARE*4500 – Decision Science (0.5 credit)
Who can take this minor?
The minor cannot be combined with a major in Environmental Economics and Policy, Food and Agricultural Business, or Food, Agricultural and Resource Economics.
Which minor is right for you?
Both minors offer opportunities to build economic and analytical skills, but their areas of focus differ.
- Choose Agricultural Economics and Business to explore agri-food markets, agribusiness management, supply chains and the business decisions shaping global food systems.
- Choose Natural Resource Economics and Policy to explore environmental challenges, natural resource management, economic evaluation and policy approaches to issues such as water, energy, forests and biodiversity.
Both minors are scheduled to launch in the 2027-28 academic year.
For more information, contact the Department of Food, Agricultural and Resource Economics at fare@uoguelph.ca.