Agricultural Economics

What it’s about:

The agricultural economics major teaches you to understand agriculture from both the national and the international perspective. You apply economic principles to the study of agricultural trends, productivity, investment, and the use and conservation of natural resources.

What the study of this major is like:

Economics is the study of the way societies use available resources to meet people’s needs. Since farming is the largest user of the earth’s resources, agricultural economics is a wide-ranging field. You are most likely to benefit from the major if you have a broad educational background. Your general education courses may include English, speech, data analysis, chemistry, physics, economics, the natural and social sciences, history, literature, and the arts.

Many of the courses offered in this major are the same as in the agricultural business major, and sometimes it’s hard to distinguish the two. Both majors cover economic principles, technical agricultural sciences, and business management tools. Whereas the agricultural business major provides management, operational, and production skills for business careers in the industry, agricultural economic focuses analytically on a broader range of issues to prepare you for graduate study or for careers in research and public policy as well as in business. You explore the relationship between agriculture and other sectors of the economy; you evaluate responses to economic problem solving and qualitative reasoning, as well as how to make ethical judgments.

You also take upper-level electives in your chosen concentration, which may focus on public policy and regional development issues; natural resource allocation and environmental issues; management and production; or international trade. In many programs, a capstone project teaches you to debate concepts and integrate them into a wider perspective. Some colleges require you to do an internship or declare a minor. You may be able to earn college credit by participating in a study-abroad program.

Typically, you need good preparation in math and science to succeed in this major. Joining a student chapter of a national agricultural association will help you to learn more about the field, make valuable career contacts, and find internships and job opportunities.

Programs are typically found in colleges of agriculture at land-grant universities. Some smaller, four- year private and public colleges offer a similar major, particularly in regions where agriculture is a significant industry. Admission and course requirements differ slightly among colleges. Some colleges combine agricultural business and agricultural economics into one program. There may also be differences in the areas of concentration offered.

Career options and trends:

Agricultural statistician; agricultural consultant; government agency employee (e.g., USDA); financial analyst; bank manager or loan officer; sales representative; natural resources manager; public policy analyst; commodities broker, trader, or merchandiser.

The food and fiber industries are changing rapidly, because of corporate mergers and consolidations, the increasing reliance on telecommunications, and the growth of global trade and competition. As a result, companies want educated, productive, and flexible employees who can adapt in a rapidly shifting world market.

Demand for economists in general remains fairly constant, in good times and bad. Opportunities for agricultural economists in particular are increasing, as is the diversity, globalizations, and high-tech nature of the profession.

Source: CollegeBoard 2012 Book of Majors