AGRICULTURAL AND APPLIED ECONOMICS 3301
Instructor: Dr. Jaime Malaga
Office: 305 C Ag.Sc. Phone: 742-0261 ex. 241
Office Hours: Monday, Tuesday, and Friday 11.00-12:30.
Class and Lab: Sec 001: Tuesday and Thursday 9:30 – 10:50 a.m. Ag.202
Lab 501: Wednesday 2:00-4:50 p.m. Ag..308 (lab required)
Text: The Agricultural Marketing System by V. James Rhodes, Jan L. Dauve, and Joseph
L. Parcell. 6th edition. Arizona: Holcomb Hathaway, 2006.
Readings Package: Available at Copy Tech (West Hall Building, Room 145).
Prerequisite: AAEC 2305. Fundamentals of Agricultural & Applied Economics.
Course Objective: To learn how the agribusiness marketing system functions, covering operations involved in the movement of agricultural commodities from farmer to consumer, including the essential marketing functions of buying/selling, transportation, storage, pricing, standardization, market intelligence, and risk bearing.
Expected Learning Outcomes:
Upon completion of this course, students are expected to be able to:
1. - Understand key concepts of modern marketing strategies and techniques, including product differentiation, branding, price discrimination, target marketing, vertical integration, international marketing, and supply chain management.
Methods of Assessing This Expected Learning Outcome: Exams, “muddiest point”, class
polling, lab reports, term paper, class presentation.
2. - Identify and assess alternative agribusiness marketing environments and strategies Methods of Assessing This Expected Learning Outcome: Exams, homework assignments,
lab reports, term paper, class polling, interaction with agribusiness managers during labs.
3. - Understand the use of basic risk bearing tools and strategies, including Futures Markets, hedging, and options.
Methods of Assessing This Expected Learning Outcome: Exams, homework assignments,
class polling, interaction with agribusiness managers during labs.
4. - Understand the different roles, decisions, and responsibilities associated with marketing positions at different levels of the agribusiness marketing chain, including private corporations, cooperatives, and government agencies.
Methods of Assessing This Expected Learning Outcome: Lab reports, term paper,
presentation, interaction with agribusiness managers during labs.
5. - Improve their technical communication skills in the area of Marketing Methods of Assessing This Expected Learning Outcome: Class participation, weekly lab
reports, term paper, class presentation.
Section 1: Marketing Dimensions and Market Competition
Objective: Describe and analyze the general functions and the competitive
environment in which farm commodities become consumption products.
Section 2: Consumer Markets
Objective: Understand the characteristics, structure, and evolution of the domestic
and international markets for food/agricultural products.
Section 3: Pricing and Exchange Systems
Objective: Analyze the economic principals that guide marketing activities (at
industry and firm levels) including price determination and risk management
Section 4: Marketing Channels
Objective: Compare the firm specific marketing and procurement alternatives for
producers, producer groups, processors, wholesalers and retailers.
Written Report (2 typed pages) on Lab Visits
These reports will relate to firms and organizations visited during the Lab periods. Handouts will explain the requirements. Lab reports are due the day following the lab (normally Thursdays)
Term Project Report and Presentation “Marketing an Agricultural Product.” This is a
team project (up to 3 members). Report is due on April 5, 2007. Presentations will take place during the last week of April and the first week of May. Specific instructions and guidelines will be given in class.
Teacher Expectation of Students: Please attend class and be there on time. It is expected
that you read the chapters and other readings/handouts assigned beforehand. Be prepared to discuss assigned topics. I expect everybody to be involved in the discussion activities. There is a strong correlation between class attendance and final grades. Grading System. Short quizzes will be given throughout the semester, most of them unannounced. Reports on lab visits and exercises will be assigned and must be returned on time to be counted.
3 exams (100 points each) and an Optional Final (Comprehensive) will be given
Exam 1: Thursday, February 8
Exam 2: Thursday, March 22
Exam 3: Tuesday, April 24
Final: Friday, May 4
Class Participation: 20 points
Project Report: 50 points
Project Presentation: 25 points
Lab reports, quizzes and exercises: 5 points each (These are not bonus points). In-
class assignments cannot be made up. Lowest two will be dropped.
Course Grade Calculation: The total scored points throughout the semester (3 exams of 100 points) term project report and presentation (75 points) and the total points from quizzes, labs, and exercises (5 points each), and class participation will be divided by the total of possible points to obtain the class grade as follows:
90% of total possible points or above A
Below 60% F
Policy on Makeup Exams: If you miss one exam and you have an official excuse (your Doctor’s or the Dean’s office) you can take a makeup exam covering the respective material during the time scheduled for the final exam. If you DO NOT have an official excuse or fail to give the documentation to the instructor within ONE week of the missed exam, you will be given zero grade for that exam but you can take the comprehensive final as a makeup. Students who would like to improve their grade could take the final to replace their lowest exam grade.
Specific Policies: The course will be conducted in compliance with the policies and procedures of Texas Tech University. Any form of academic dishonesty will not be tolerated and will be informed to Department Head, the Dean of the College of Agriculture and the Vice Chancellor for Student Affairs
Students with Disabilities: If you believe you have a disability requiring special
accommodations please inform the instructor at the beginning of the semester for those accommodations to be made according to University regulations.