AGEC 317ECONOMIC ANALYSIS FOR AGRIBUSINESS AND MANAGEMENT

ABOUT YOUR INSTRUCTORDr. 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.eduocapps@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)

TA INFORMATION: TBAOffice:

E-mail:

Telephone:

Office hrs:

AGEC 317Goals:Better understand managerial and economic issues in agribusiness managementProvide exposure in using formal quantitative analysis to solve economic problemsProvide 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)

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

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

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

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

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

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)

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

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

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...

o You take individual responsibility for learning the material

o Make sure YOU can do the assignments

o The assignments are very similar to in-class test questionso Avoid the “free-rider”

problem