The MSc program emphasizes agricultural policy, farm management, agribusiness, internationaleconomics, agricultural marketing, and production economics. There is a special MSc program in Environmental Economics described below.
     The aim of the MSc program is to develop in students a fundamental understanding of economic principles and their application in identifying and solving relevant problems in agriculture and related fields. The program also strives to develop appropriate analytical, methodological, and communication skills to enable students to analyze agriculture and resource problems effectively and explain their findings.

Admission Requirements
     The minimum requirement is an honours baccalaureate with a minimum B- standing. All students entering the MSc program in agricultural economics will have already taken, or be expected to take at the initiation of the program, the following basic courses:

1. Intermediate level micro- and macro-economic theory (ECON2310 and 2410, or equivalent).
   
   Calculus and matrix algebra with applications to economics (ECON2770, or equivalent).
   

   Intermediate level statistics (ECON3740, or equivalent).
   

     These make-up courses do not carry graduate credit and, in some instances, may be supplemented with other undergraduate courses at the discretion of the graduate studies committee.

Degree Requirements

     The MSc program consists of a set of core courses plus other courses of the student's choice in the areas of concentration and supporting fields. Graduate students are expected to select the courses they want to pursue before the beginning of their second semester. In addition to coursework requirements, the student must prepare a thesis on a topic approved by his/her advisory committee. With an appropriate undergraduate background, a student should be able to complete the MSc program with thesis in five or six full-time semesters (18 to 24 months).

     The minimum coursework requirements (assuming all undergraduate background requirements have been met) are:

1. microeconomic theory (ECON*3710 or ECON*6000) and macroeconomic theory (ECON*4810 or ECON*6020);
   
2. one graduate course in quantitative methods selected from AGEC*6360, ECON*6050, or COST*6060;
   
3. two graduate courses in agricultural economics;
   
4. one additional graduate course; and
   
5. a seminar course (AGEC*6800).

     Students interested in emphasizing resource and environmental economics are advised to take the following courses:

1. microeconomic theory (ECON*3710 or ECON*6000) and macroeconomic theory (ECON*4810 or ECON*6020);
   
2. economics of renewable resources (AGEC*6610);
   
3. environmental economics (ECON*6800);
   
4. cost benefit analysis (AGEC*6320);
   
5. public finance (ECON*6400) or advanced resource economics (AGEC*6700);
   
6. one graduate course in quantitative methods selected from (AGEC*6360, ECON*6050, ECON*6140); and
   
7. a seminar course (AGEC*6800).

Interdepartmental Programs

Business Studies MBA Program
     The Department of Agricultural Economics and Business participates in the MBA program in the field of agribusiness management. Those faculty members whose research and teaching expertise includes aspects of business administration offer core courses for MBA students. Please consult the Business Studies listing for a detailed description of the MBA program.

University School of Rural Planning and Development Shared MSc Program
     Students in the shared program address the general issues of planning and rural development in a North American or international context while maintaining their links with one of the major areas of focus in agricultural economics and business. Students are enrolled in the Department of Agricultural Economics and Business and are also admitted to the University School of Rural Planning and Development. The MSc degree granted is in agricultural economics and business and indicates a focus on rural planning and development issues.
     The shared MSc program will be completed with a thesis and a minimum of seven courses or a major paper and a minimum of nine courses. In either case, the student's program includes a required set of three courses from the university school, one course from the Department of Economics, and a research methods course from either the Department of Agricultural Economics and Business or the university school.
     The course requirements are as follows:
ECON*3710, Advanced Microeconomics;
RPD*6240, Planning and Development Theory;
RPD*6280, Rural Planning Methods or
RPD*6030, International Rural Development Planning: Principles and Practices;
RPD*6300, Rural Planning Synthesis, or
RPD*6400, Synthesis: Seminar in Integrated Rural Development Planning;
plus either RPD*6170, Philosophy and Methods in Rural Planning and Development Research, or AGEC*6100, The Methodology of Economics.
     The student may choose from a list of electives to complete the course requirements. The student must include at least three courses in economics or agricultural economics in their program.
     The student's advisory committee will include at least one member from each department. The committee must approve the program of courses and the thesis or major-paper research topic.

International Development Studies Collaborative MA/MSc Program
     The Department of Agricultural Economics and Business participates in the MA/MSc program in Collaborative International Development Studies (CIDS). Professors Cummings, Pfeiffer, Phillips and Rollins are members of the International Development Studies Interdepartmental Group. These faculty members' research and teaching expertise includes aspects of international development studies; they may serve as advisers for MSc students. Please consult the Collaborative International Development Studies listing for a detailed description of the MA/MSc collaborative program including the special additional requirements for each of the participating departments.

MSc (Aquaculture) Interdepartmental Program
     The Department of Agricultural Economics and Business participates in the master of science in aquaculture program. Professors Funk and Pfeiffer are members of the aquaculture interdepartmental group. These faculty members' research and teaching expertise includes aspects of aquaculture; they may serve as advisers for MSc (Aquaculture) students. Please consult the Aquaculture listing for a detailed description of the MSc (Aquaculture) interdepartmental program.

Resource and Environmental Economics PhD Program
     The department shares with the Department of Economics a PhD program in resource and environmental economics. The normal basis for admission to this program is a recognized master's degree in economics or agricultural economics with high academic standing. All students must complete required coursework; pass qualifying examinations in three fields (economic theory, and two of the fields listed above); and submit and defend an acceptable thesis. This program is described in detail under Resource and Environmental Economics.

Rural Studies PhD Program
     The Department of Agricultural Economics and Business participates in the PhD program in rural studies in the field of sustainable rural communities. Those faculty members whose research and teaching expertise includes aspects of rural studies may serve as advisers for PhD students. Please consult the Rural Studies listing for a detailed description of the PhD program.

Courses

Course/(Credit Value)	Term	Course Description
Production Economics
AGEC*6130 Financial Management (0.5)	F	A review of capital and investment theory, and the application of analytical models to determine optimal investment patterns for agribusiness and farm firms.
AGEC*6360 Mathematical Programming (0.5)	F	A study of the algebra, assumptions and economic logic of important optimizing techniques and their application to problems in quantitative economics.
AGEC*6400 Advanced Topics in Production Economics (0.5)	S	The application of economic theory and various contemporary tools of economic analysis in solving production problems in the agricultural sector of the economy.
AGEC*6420 Production Economics: Theory with Applications (0.5)	F	An integrated treatment of the neoclassical theory of the firm including static models, duality, risk-responses of competitive firms and the theory of investment demand. The properties and interpretation of certain functional forms will be discussed. Selected empirical examples are studied to illustrate application to the food and renewable resource sectors.
AGEC*6430 Case Studies in Farm Management (0.5)	W	Identification of problems and opportunities on selected representative farms; use of selected management tools for diagnostic analysis and planning; evaluation of relevant management strategies based on the concept of management as a continuous decision-making process.
Agricultural Marketing
AGEC*6250 Futures and Options (0.5)	S	The theory and application of futures, options and other derivative securities for marketing, risk management, and investment purposes. Emphasis is placed on application of the instruments to real business situations, and on the development and implementation of trading strategies designed to meet the precise needs of specific business clients.
AGEC*6540 Advanced Price Analysis (0.5)	W	The application of microeconomic theory to agricultural commodity modelling, with emphasis on the specification, estimation and interpretation of supply, demand and market equilibrium models.
AGEC*6570 Advanced Agricultural Marketing Analysis (0.5)	S	A study of agricultural and food marketing problems with particular emphasis on the application of economic theory and research methods to selected empirical problems.
Agricultural Policy and Trade
AGEC*6220 Agricultural Policy (0.5)	W	A critical analysis of contemporary issues in the agricultural policy of affluent economies, with emphasis on Canadian policies.
AGEC*6240 Agricultural Trade Policy (0.5)	F	An examination of conceptual and empirical problems, policies, and institutional arrangements in international trade of agricultural products.
AGEC*6600 Agriculture in Economic Development (0.5)	F	The course is concerned with the role of agriculture as a source of food, fibre and employment in developing countries. The interaction between agriculture and other sectors of the economy and other countries is also examined.
Resource and Environmental Economics
AGEC*6320 Cost Benefit Analysis (0.5)	S	A presentation of the theory and methods used in cost benefit analysis. The course will examine selected case studies; and it will include a discussion of both renewable and non-renewable resources.
AGEC*6610 Economics of Renewable Resources (0.5)	F	This course is concerned with the optimal use of renewable resources, i.e., resources that exhibit growth or regeneration over a cycle. Models of dynamic allocation are discussed and the role of government in altering the market allocation is considered.
AGEC*6630 Regional Economic Models (0.5)	W	Theories and research in regional economics stressing regional development, socio-economic accounting, analysis of structure and growth, economic base and multiplier models.
AGEC*6690 Program Evaluation (0.5)	W	An advanced seminar dealing with the theory and practice of program evaluation focusing on public sector programs in agriculture and rural development, international and domestic case studies.
AGEC*6700 Advanced Resource Economics (0.5)	W	Seminar on the literature, current research, and methods of analysis in natural resource economics.
Agribusiness Management
AGEC*6070 Quantitative Methods for Decision Making (0.5)	W	The objective of the course is to provide business students with an understanding and working knowledge of analytical techniques in statistics and mathematical programming used to commonly solve management problems. The emphasis is on the application and interpretation of quantitative methods rather than on the theoretical background.
AGEC*6080 Information Systems in Agribusiness (0.5)	S	A study of the role, the components and the management of information systems in agribusiness organizations. An examination of the role of the Internet in internal and external information exchange is incorporated into the topics covered.
AGEC*6090 Small Business Taxation (0.5)	F	An introduction to the Income Tax Act with special reference to small businesses. Emphasis will be placed on solving tax problems and tax planning.
AGEC*6110 Marketing Research (0.5)	W	A study of marketing research analysis in agribusiness firms, with emphasis on the marketing research function and the application of quantitative problem solving techniques.
AGEC*6120 Marketing Management (0.5)	F	A study of marketing decision-making in agribusiness firms, with emphasis on the formulation of strategic marketing plans.
AGEC*6140 Business Policy I (0.5)	F	Introduction to the principles of business management. Emphasis on the formation of business strategy, policies and alliances. Selected case studies are used to explore policy and implementation, and how decisions about those aspects of business affect a firm's competitiveness.
AGEC*6141 Business Policy II (0.5)	S	Advanced examination of the principles of business management. This is a seminar course focusing on issues of particular importance to the agrifood industry.
AGEC*6180 Financial Accounting (0.5)	F	A study of the use of financial information to facilitate effective decision making in agribusiness firms.
AGEC*6200 Management Accounting (0.5)	W	The emphasis is on the managerial use of accounting information as it relates to decisions on costing, pricing, operational control, etc.; and as it relates to management of working capital, and short and intermediate term liabilities.
AGEC*6250 Futures and Options (0.5)	W	The theory and application of futures, options and other derivative securities for marketing, risk management, and investment purposes. Emphasis is placed on application of the instruments to real business situations, and on the development and implementation of trading strategies designed to meet the precise needs of specific business clients.
AGEC*6410 Operations Management I (0.5)	F	Overview of the management problems involved in planning, operating and controlling the systems used in operations, with emphasis on farm and agribusiness applications.
AGEC*6411 Operations Management II (0.5)	S	This course examines operations management issues of particular importance to the agrifood sector, particularly supply chain management.
AGEC*6750 Problems in Agricultural Business I (0.5)	S,F,W	Management project leading to a referenced technical report on some aspect of agricultural economics or agricultural business.
AGEC*6760 Problems in Agricultural Business II (0.5)	S	Management project leading to a referenced technical report on some aspect of agricultural economics or agricultural business. Completion of this course will requirea formal presentation on the project to faculty and students.
AGEC*6100 The Methodology of Economics (0.5)	W	Alternative views on the methodology of economics are reviewed and assessed. The process of problem identification in the development of a research project proposal is investigated.
AGEC*6720 Readings in Agricultural Economics (0.5)	S, F, W	A reading course on selected topics of special interest. May be offered to individual students or to groups of students in any semester.
AGEC*6800 Seminar in Agricultural Economics (0.0)	S, F, W	Students in the MSc and PhD programs must present a department seminar on a topic of the student's choice in agricultural economics. For MSc students the seminar must be presented by the completion of their fourth semester in the program.