University of Guelph 2001-2002 Undergraduate Calendar

XII--Course Descriptions, Agricultural Economics

Department of Agricultural Economics and Business.

AGEC*2220 Financial Accounting F,W(3-3). [0.50].

An introductory course designed to develop an understanding of current accounting principles and their implication for published financial reports of business enterprises. The course approaches the subject from the view of the user of accounting information rather than that of a person who supplies the information.

Prerequisite(s): 1 of ECON*1100, ECON*1200, ECON*1210, ENGG*3240

AGEC*2230 Management Accounting F,W(3-3). [0.50].

This course emphasizes the use of accounting information to facilitate effective management decisions. Topics include cost determination, cost control and analysis, budgeting, profit-volume analysis and capital investment analysis.

Prerequisite(s): AGEC*2220

AGEC*2700 Survey of Natural Resource Economics W(3-1). [0.50].

Natural resources in broad economic perspective. A discussion of factors that shape decisions concerning their use (or misuse), with illustrations of topical interest. This course is not normally offered to 7th or 8th semester students.

Prerequisite(s): ECON*1200 or ECON*1210

AGEC*3030 The Firm and Markets F(3-2). [0.50].

A course in microeconomic theory applied to agricultural economics research. The theory of the firm is used to analyze production and resource use in agriculture. Resource allocation issues, risk responsive decision-making, and firm strategy on vertical and horizontal integration are studied. Consumer theory is used to analyze food purchase decision. How theoretical relationships are quantified and used in the analysis of public policy issues is emphasized.

Prerequisite(s): ECON*2310, ECON*2770, ECON*3740

AGEC*3310 Operations Management W(2-1). [0.50].

The decision-making role of the operations manager in transforming inputs into desired outputs is the primary focus of this course. The major issues and problems of designing, scheduling, operating, and controlling the production system will be examined.

AGEC*3320 Financial Management F,W(3-0). [0.50].

The viewpoint taken in the course is that of the senior financial officer of a business firm. The focus is on the management of cash, accounts receivable, inventory and short and intermediate term liabilities. Emphasis is placed on the analysis and forecasting of financial statements, and financial modelling for planning and controlling the growth of the business enterprise.

Prerequisite(s): AGEC*2230 or HAFA*3070

AGEC*3330 Intermediate Accounting F(3-0) . [0.50].

A critical evaluation of accounting concepts, principles and practices in relation to both the traditional and current value accounting measurement models. Emphasis will be on the effect of alternative accounting practices and measurement models on income determination and asset valuation.

Prerequisite(s): 10.00 credits including AGEC*2220

AGEC*4000 Agricultural and Food Policy W(3-0). [0.50].

A critical analysis of agricultural income, marketing, adjustment and trade problems and policies in the developed countries, with particular emphasis on Canadian agricultural policies.

Prerequisite(s): 15.00 credits including ECON*2310

AGEC*4210 World Agriculture and Economic Development F(3-0). [0.50].

The role of agriculture in economic development. Analyses of economic policies and programs in developing countries and their effect on economic development.

Prerequisite(s): 10.00 credits

AGEC*4220 Advanced Farm Management W(2-3). [0.50].

A course to follow AGEC*4200 which is oriented toward practical application of theory and analytical principles to the identification, analysis and solution of farm business organization/management problems. Students work on a major farm project as management consultants with a farm owner/operator. The course builds upon students' prior training in accounting, finance, mathematical analysis, computer applications, economics, agriculture and farm management.

Prerequisite(s): 1 of AGEC*3320, AGEC*4200, AGR*2402, ECON*2770, instructor's approval

AGEC*4240 Futures and Options Markets W(3-0). [0.50].

An introduction to the study of the theory and application of futures, options and other derivative instruments for marketing, hedging, investment and speculative purposes. Emphasis is placed on applications of agricultural and financial instruments to real business situations.

Prerequisite(s): 1 of AGEC*3320, AGR*2402, ECON*3560, ECON*3660

AGEC*4250 Business Policy F,W(3-0). [0.50].

Business policy is a synthesis of the principles of business management with emphasis upon the formation of business decisions and policies. The purpose of this course is to enable the student to draw on analytic tools and factual knowledge from all other courses in analyzing comprehensive business problems.

Prerequisite(s): AGEC*3310, AGEC*3320, ECON*3560

AGEC*4290 Land Economics F(3-0). [0.50].

Economic principles and practice in allocating land among agricultural, urban and other uses in regional systems; contemporary trends, problems and policies in land planning, land purchase, valuation, mortgages and credit; assessing and taxing property. (Offered in even-numbered years.)

Prerequisite(s): AGEC*2700 or ECON*2310

AGEC*4310 Resource Economics W(3-0). [0.50].

This course explores the role of property rights and related institutions in the stewardship of natural resources. Readings emphasize original sources in natural resource economics. The course uses a discussion-based class format. Students conduct original research on current natural resource policy issues.

Prerequisite(s): AGEC*2700 or ECON*2310

AGEC*4360 Marketing Research W(3-0). [0.50].

A study of the marketing research function in business with emphasis on its role in providing information to assist managers in making marketing decisions.

Prerequisite(s): 0.50 university credit in statistics

AGEC*4370 Marketing Management F,W(3-2). [0.50].

The course focuses on the decision making role of the marketing manager who is responsible for formulating the strategic marketing plan. The theory of selecting market target(s) for the firm's product and/or services and the development of the marketing mix (product, price, promotion, distribution) with the aid of market research is covered. Note: Students with credit for this course may not proceed to COST*1000.

Prerequisite(s): 10.00 credits, (AGEC*2230 or COST*2600)

Equate(s): COST*4370

AGEC*4410 Sales and Sales Management W(3-0). [0.50].

This course is designed to develop professional selling skills. It includes the development of background knowledge in sales techniques as well as the application of this material to professional selling. Students will learn to plan, execute, and evaluate sales programs.

Prerequisite(s): 10.00 credits

AGEC*4500 Decision Science F(3-0). [0.50].

Quantitative techniques such as classical optimization, mathematical programming, simulation and input-output models are applied to firm, interregional, industry, and international problem situations in agricultural economics, including those dealing with resources and the environment. Time and risk and uncertainty dimensions are addressed.

Prerequisite(s): AGEC*2270 or ECON*2770



Admission inquiries: Admission Services ~ ~ ~ General calendar inquiries: U.P.S.
Last revision: October 18, 2001 (Section IX December 01, 2001; format revision November 20, 2001).

2001 Office of Registrarial Services, University of Guelph