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AGEC 317

AGEC 317. Economic Analysis for Agribusiness and Management. About Your Instructor. Dr. Oral Capps, Jr., Executive Professor, Regents Professor & Co-Director of The Agribusiness, Food and Consumer Economics Research Center (AFCERC) Office: 371C AGLS Building Phone: 979-845-8492

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AGEC 317

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  1. AGEC 317 Economic Analysis for Agribusiness and Management

  2. About Your Instructor Dr. Oral Capps, Jr., Executive Professor, Regents 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. Thurs 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 (979-845-5911)

  3. TA Information: TBA • Office: • E-mail: • Telephone: • Office hrs:

  4. AGEC 317 • Goals: • 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)

  5. Prerequisites for AGEC 317 • AGEC 217 • MATH 142 or equivalent • STAT 303 or equivalent • ECON 323 or equivalent • Junior or Senior classification, AGEC or AGBU majors

  6. Ordering SAS for your Personal computer To order SAS for your personal computer go to https://software.tamu.edu and download the Student SAS Order Form.  You must complete the form and return it to the Texas A&M Software Center. Computing Services Center, Room 1105 Phone: 979-862-4104 Fax: 979-845-2074 sell@tamu.edu

  7. 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

  8. Key Dates • Exam 1: October 3 • Exam 2: November 7 • Final Exam: December 6 (501); December 11 (502) • Class Project Team Selection: October 4 • Last Day to Q-drop: November 15 • Bonfire 1999 Remembrance Day: November 18 • Class Project Due: November 27 • Thanksgiving Holiday: November 28-29 • Last Day of Fall Semester classes: December 3

  9. 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

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

  11. 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 early on and diligently on the class project • Check material on my webpage or on ecampus

  12. Help Sessions • Exam 1 October 2 7:00 p.m. to 9:00 p.m., AGLS 115 • Exam 2 November 6 7:00 p.m. to 9:00 p.m., AGLS 115 • Final Exam December 4 7:00 p.m. to 9:00 p.m., AGLS 115 • Help sessions also are scheduled every Wednesday evening beginning September 4 from 7:00 p.m. to 9:00 p.m. in AGLS 115

  13. 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 • Avoid the “free-rider” problem

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