Agriculture Economics

Course Code: AGRC-122

Department: Agriculture

Credit Hours: 3.00

Illinois Articulation Initiative Number: IAI AG 901

Textbook Information: Bookstore website

The application of the principles of economics to agricultural problems and the role of agriculture in the United States and world economics. Include production principles; production costs, supply, and revenue; profit maximization; consumption and demand; price elasticity; market price determination; and competitive versus noncompetitive market models. Examination of the world food situation, including population, world food production trends, trade in agricultural products, and agriculture's role in economics growth; agriculture characteristics and inputs the marketing of agriculture products and agricultural problems and policies.