AGRI 2317 - Introduction to Agricultural Economics

AGRI 2317:

Description
Fundamental economic principles and their application in the agricultural industry.
Credits 3 Lecture Hours 3 Lab Hours 0
Extended Hours
0
Contact Hours
48
State Approval Code
01.0103.51 01
Alternate Operations During Campus Closure

In the event of an emergency or announced campus closure due to a natural disaster or pandemic, it may be necessary for Panola College to move to altered operations. During this time, Panola College may opt to continue delivery of instruction through methods that include, but are not limited to: online learning management system (CANVAS), online conferencing, email messaging, and/or an alternate schedule. It is the responsibility of the student to monitor Panola College's website (www.panola.edu) for instructions about continuing courses remotely, CANVAS for each class for course-specific communication, and Panola College email for important general information.

Class Attendance

Regular and punctual attendance of classes and laboratories is required of all students. When a student has been ill or absent from class for approved extracurricular activities, he or she should be allowed, as far as possible, to make up for the missed work. If a student has not actively participated by the census date, they will be dropped by the instructor for non-attendance. This policy applies to courses that are in-person, online, hybrid, and hyflex.

Attendance in online courses is determined by submission of an assignment or participation in an activity. According to federal guidelines, simply logging into a distance learning course without participating in an academic assignment does not constitute attendance. Distance learning is defined as when a majority (more than 50%) of instruction occurs when the instructor and students are in separate physical locations. Students must engage in an academic activity prior to the course census date. 

When an instructor feels that a student has been absent to such a degree as to invalidate the learning experience, the instructor may recommend to the Vice President of Instruction that the student be withdrawn from the course. Instructors may seek to withdraw students for non-attendance after they have accumulated the following number of absences: 

Fall or spring semesters: 

3 or more class meeting times per week - 5 absences

2 class meeting times per week - 3 absences

1 class meeting per week -  2 absences

The student is responsible for seeing that he or she has been officially withdrawn from a class. A student who stops attendance in a class without officially withdrawing from that class will be given a failing grade; consequently, the student must follow official withdrawal procedures in the Admissions/Records Office.

Please note: Health Science and Cosmetology courses may require more stringent attendance policies based on their accreditation agencies. Please see the addendum and/or program handbook for further information concerning attendance.  

Pregnant/Parenting Policy

Panola College welcomes pregnant and parenting students as a part of the student body. This institution is committed to providing support and adaptations for a successful educational experience for pregnant and parenting students. Students experiencing a need for accommodations related to pregnancy or parenting will find a Pregnancy and Parenting Accommodations Request form in the Student Handbook or may request the form from the course instructor.

Instructional Goals and Purposes

AGRI 2317 is an introduction to the field of agricultural business and economics. The course will stress the US and world food system with linkages among financial institutions, world markets, the macro economy, farms, agribusinesses, and the environment.

Learning Outcomes

After studying all materials and resources presented in this course, the student will be able to:

  1. Describe fundamental macro- and micro-economic principles.
  2. Apply economic principles to agricultural production, marketing and consumption.
  3. Describe the different agricultural economics fields (e.g. food industry, demand theory, supply theory, competitive environments).
Course Content

Students in all sections of this course will learn the following content:

  1. What is Agricultural Economics?
  2. The U.S. Food and Fiber industry
  3. Theory of Consumer Behavior
  4. Consumer Equilibrium and Market Demand
  5. Measurement and Interpretation of Elasticities
  6. Introduction to production and Resource Use
  7. Economics of Input and Product Substitution
  8. Market Equilibrium and Product Price: Perfect Competition
  9. Market Equilibrium and Product Price: Imperfect Competition
  10. Natural Resources, the Environment, and Agriculture
  11. Government Intervention in Agriculture
  12. Product Markets and National Output
  13. Macroeconomic Policy Fundamentals
  14. Consequences of Business Fluctuations
  15. Macroeconomics Policy and Agriculture
  16. Agricultural Trade and Exchange Rates
  17. Why Nations Trade
  18. Agricultural Trade Policy and Preferential Trading Arrangements
Methods of Instruction/Course Format/Delivery

AGRI 2317 is an online course. Course materials and assignments can be found on Canvas. It is designed to cover the entire semester and will be structured in a weekly format. During the semester, you will be given reading assignments, take online quizzes, submit homework, participate in online discussion posts, take three (2) major exams, and a comprehensive final exam.

Assignments

Several different assessment techniques will be used in AGRI 2317 including: online quizzes, homework assignments, and three major exams.

 

Exams: 

Exams will consist of problem solving exercises and book content in multiple choice, true/false, and short answer formats. The three exams will each cover six chapters. Each exam is weighted the same.

Homework:

Homework problems will be assigned throughout the semester and will consist of fill-in-the-blank and short answer questions. Please wait until your first attempt has been graded before making your second attempt.

Quizzes:

There will be online quizzes on Canvas. There will be 20 of these and each will cover one chapter. All due dates on Canvas quizzes are final; no quizzes will be reopened for any reason. If you wait until the last minute, then you are taking the risk of computer failure or any other complication. You may attempt each quiz up to three times. The highest score will be counted.

Discussions:

There will be discussion threads to respond to over the course of the semester. Each original post must be at least 250 words. In addition each student will be required to respond to two peers. Responses should be at least 125 words.

Assessments

Late Work: All listed assignments are due according to the due date provided in Canvas and on the course calendar if you do not complete the assignments on time a 5% per day penalty will automatically be applied to all assignments. If you have missed an assignment due to an approved class absence please contact your instructor for further instructions. 

 

Missed Exams: Missed exams due to legitimate reasons should be taken prior to the reporting of a midterm or final grade as applicable. It is the responsibility of the student to reschedule the makeup with the instructor. The Instructor reserves the right to change the test format of any makeup. Instructors are not required to issue makeup work for an unexcused class absence Instructor also reserves the right to give full or partial credit for any makeup work that is allowed and that resulted from an unexcused absence.  

 

Missed Quizzes: Missed quizzes due to legitimate reasons should be rescheduled within one week of the scheduled quiz or a date assigned by the Instructor. It is the responsibility of the student to reschedule makeup quizzes. The Instructor reserves the right to change the test format of the makeup quiz.  The instructor is not required to make up work for unexcused class absences. The instructor reserves the right to give full or partial credit for any makeup work that is allowed and that resulted from an unexcused absence.  

 

Attendance: Attendance is based on the student missing no more than 10% out of the semester without a valid excuse. After the 10%, the instructor may withdraw the student at their discretion. Any student thirty or more minutes late will be counted absent. Students that leave before class is dismissed will be counted absent.  The Instructor reserves the right to dock points for any missed class without a legitimate excuse.  

 

Plagiarism: Plagiarism shall be defined as appropriating, buying, receiving as a gift or obtaining by any other means, another person’s work and the unacknowledged submission or incorporation of it in one’s own written work. All papers submitted to Canvas will be scanned with turnitin.com and the instructor reserves the right to dock points based on the results.  

 

Cheating: Cheating on a test shall include:

a. Copying from another student’s test

b. Using test materials not authorized by the person administering the test

c. Collaborating with or seeking aid from another student during a test without permission from the test administrator

d. Knowingly using, buying, selling, stealing, or soliciting, in whole or in part, the contents of an unadministered test.  

e. The unauthorized transporting or removal, in whole or in part, of the contents of the unadministered test.

f. Substituting for another student, or permitting another student to substitute for one’s self, to take a test.

g. Bribing another person to obtain an unadministered test or information about an unadministered test absolutely no cheating is tolerated.

h. If a student is observed cheating they will be sent home immediately counted absent and given a zero on the assignment they were cheating on.

 

Some mandatory meetings outside of class days and time may be required to attend for credit. Valid excuses must be submitted with proof via email to your professor to avoid grade penalties.  

 

Course Grade

The grading scale for this course is as follows:

  • Discussions – 15%
  • Quizzes – 25%
  • Homeworks – 20%
  • Exams – 40%

Grading Scale:

  • A = 90-100
  • B = 80-89
  • C = 70-79
  • D = 60-69
  • F = 69 and below
Texts Materials, and Supplies

Introduction to Agricultural Economics, by Penson, Capps, Rosson III, and Woodward, Seventh Edition (Pearson)—required

 

Other
This course counts as part of the academic requirements of the Panola College Core Curriculum and an Associate of Arts or Associate of Science degree
No