Agricultural Economics

• ECN 3870• Dr. Ali R. Moshtagh• 2605 Coleman Hall• (217) 581-6967• amoshtagh@eiu.edu• Office Hours:

– 11:00 - 11:50 MWF

– 8:30 - 9:30 TR

Agricultural Economics

Study of the allocation of scarce resources among those competing and alternative uses found in the production, processing, distribution, and consumption of agricultural commodities.

Objectives of Studying Ag-Econ.

• To understand the operation of the contemporary American economic system and to comprehend the mutual influences of the general economic system and the agricultural sector;

• To learn the general economic “laws” that describe rational human behavior in the production, processing, distribution, and consumption of food and fiber;

Objectives of Studying Ag-Econ.

• To appreciate the importance of international trade to the agriculture sector and the role of the U.S. agriculture sector in the world food situation;

• To examine and analyze typical economic problems confronting the managers of individual agricultural businesses;

Objectives of Studying Ag-Econ.

• To master the basic economic principles that should be applied in the rational management of businesses in agriculture; and

• To explore the economics of factors of production with particular emphasis on natural resource use and the problems of environmental integrity.