An introductory course in agricultural economics, concerned with how limited resources are allocated in order to satisfy unlimited wants. Economic principles are applied to agricultural problems and to the role of agriculture in both the U.S. and world economies. Includes production principles; production costs, supply and revenue; profit maximization; consumption and demand; price theories; price elasticity; market price determination; competitive and noncompetitive markets; and the behavior of the firm under varying market conditions. Other topics examined are the world food situation; world food production; agricultural trade; population growth; agricultural problems and policies; and the role of agriculture in economic development and growth.
Textbook information is available at http://www.bhc.edu/on-campus/bookstore/ You will need to know the BHC course number: ACCT 102 and section: 11W
Upon successful completion of this course, the student shall be able to: A. Demonstrate an understanding of selected economic theories and principles. B. Apply economics principles to agricultural and consumer problems and policies. C. Identify the interconnectedness of local, national, and international economic systems and the relationship agriculture has to these systems. D. Identify the importance of resource management and conservation in relation to the economics of agriculture.
Black Hawk College: 6600 34th Ave Moline, IL 61265 Phone: 3097965000