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AGEC 317

AGEC 317. Economic Analysis for Agribusiness and Management. About Your Instructor. Dr. Oral Capps, Jr., Executive Professor Office: 330 B Blocker Building Phone: 979-845-8491 E-mail: ocapps@tamu.edu Office hours: TR 9:30 a.m. to 10:30 a.m. TR 3:30 p.m. to 5:00 p.m.

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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 Office: 330 B Blocker Building Phone: 979-845-8491 E-mail: ocapps@tamu.edu Office hours: TR 9:30 a.m. to 10:30 a.m. TR 3:30 p.m. to 5:00 p.m. W 9:30 a.m. to Noon W 1:30 p.m. to 3:30 p.m. or by appointment

  3. About Your Instructor, (con’t) Ph.D., Agricultural Economics, Virginia Tech, 1979 M.S., Statistics, Virginia Tech, 1979 M.S., Agricultural Economics, Virginia Tech, 1977 B.S., Mathematics, Virginia Tech, 1975 Research areas: applied microeconomics, agricultural marketing, food distribution, and applied econometrics. Co-Director, The Agribusiness, Food, and Consumer Economics Research Center (AFCERC) Webpage: http://agecon2.tamu.edu/people/faculty/capps-oral Holder of the Southwest Dairy Marketing Endowed Chair (since September 2001).

  4. Your TA: Section 501 Office: E-mail: Telephone: Office hrs: TBA

  5. Your TA: Section 502 Office: E-mail: Telephone: Office hrs: TBA

  6. 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 (Reference only): Managerial Economics, Twelfth edition by Mark Hirschey (Chapters 1-9 and 16)

  7. 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

  8. Topics Review of Key Algebraic Concepts/Calculus Demand Analysis Demand Estimation Risk Analysis Regression (Estimation and Inference) Forecasting Optimization via the use of Calculus Linear Programming

  9. Key Dates Exam 1: September 30 Exam 2: October 28 Exam 3: December 2 Class Project Team Selection: September 24 Last Day to Q-drop: November 5 Bonfire 1999 Remembrance Day: November 18 Class Project Due: November 24 Thanksgiving Holiday: November 25-26 Last Day of Fall Semester classes: December 7 Final Exam Days for AGEC 317: December 10 or December 15

  10. 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 Make projections or forecasts Understand decision-making under uncertainty Ability to communicate quantitative results to decision-makers

  11. Evaluation of Student Performance Exam 1 100 pts Exam 2 100 pts Exam 3 100 pts Class Project 100 pts Daily Review Questions Bonus Points (up to 40 pts) Final Exam (Cumulative) Optional

  12. 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 diligently on the class project Check material on my webpage

  13. Help Sessions For Exam 1 September 29 7:30 p.m. to 9:00 p.m., 149 BLOC For Exam 2 October 27 7:30 p.m. to 9:00 p.m., 149 BLOC For Exam 3 December 1 7:30 p.m. to 9:00 p.m., 149 BLOC Help sessions also are scheduled every Wednesday evening beginning September 8 from 7:30 p.m. to 9:00 p.m. in 149 BLOC

  14. Can We Study in a Group? Yes!!! Studying in a group is encouraged. For the class project, working in a team of five 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

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