Twin Cities campus
 
Twin Cities Campus

Agricultural and Food Business Management Minor

Applied Economics
College of Food, Agricultural and Natural Resource Sciences
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2015
  • Required credits in this minor: 13 to 16
This minor is designed for undergraduate students who want to include courses in business management (such as marketing, finance, entrepreneurship) to enhance and/or supplement courses in their major program and prepare for careers in industry or a graduate business program. The minor has a microeconomic, firm and industry-level focus.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Minor Requirements
AFBM Minor Courses
APEC 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or APEC 1101H - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or ECON 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
Take 3 or more course(s) from the following:
· APEC 3001 - Applied Microeconomics: Consumers, Producers, and Markets (4.0 cr)
· APEC 3002 - Applied Microeconomics: Managerial Economics (4.0 cr)
· APEC 3202 - An Introduction to the Food System: Analysis, Management and Design (3.0 cr)
· APEC 3411 - Commodity Marketing (3.0 cr)
· APEC 3451 - Food and Agricultural Sales (3.0 cr)
· APEC 3501 - Agribusiness Finance (3.0 cr)
· APEC 3551 - Entrepreneurship Fundamentals for Value-Added Rural Businesses (3.0 cr)
· APEC 3811 - Principles of Farm Management (3.0 cr)
· APEC 3821 - Retail Center Management (3.0 cr)
· APEC 3840 - Cooperative Organization (3.0 cr)
· APEC 3991 - Independent Study in Applied Economics (1.0-4.0 cr)
· APEC 4451W - Food Marketing Economics [CIV, WI] (3.0 cr)
· APEC 4461 - Horticultural Marketing (3.0 cr)
· APEC 4481 - Futures and Options Markets (3.0 cr)
· APEC 4501 - Financial Modeling: Spreadsheet Applications in Finance, Management, and Marketing (3.0 cr)
· APEC 4821W - Business Economics and Strategy [WI] (3.0 cr)
 
More program views..
View college catalog(s):
· College of Food, Agricultural and Natural Resource Sciences

View future requirement(s):
· Fall 2016


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· Agricultural and Food Business Management Minor
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APEC 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00019 - Econ 1101/1104/1111/ApEc 1101
Typically offered: Every Fall & Spring
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy.
APEC 1101H - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00019 - Econ 1101/1104/1111/ApEc 1101
Grading Basis: A-F only
Typically offered: Every Fall
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy. prereq: Honors student, proficiency in high school algebra
ECON 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1104/1111/ApEc 1101
Typically offered: Every Fall, Spring & Summer
Microeconomic behavior of consumers, firms, and markets in domestic and world economy. Demand and supply. Competition and monopoly. Distribution of income. Economic interdependencies in the global economy. Effects of global linkages on individual decisions. prereq: knowledge of plane geometry and advanced algebra
APEC 3001 - Applied Microeconomics: Consumers, Producers, and Markets
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 3101/3101H/3105/ApEc 3001
Typically offered: Every Fall & Spring
Consumer/producer decisions. Theory of supply/demand. Markets, pricing, investment, effect regulation, market failures. prereq: [[1101 or ECON 1101 or 1101H or ECON 1101H], [MATH 1142 or MATH 1271]] or instr consent; intended for undergrads in [Ag/Food Bus Mgmt, Appl Econ]
APEC 3002 - Applied Microeconomics: Managerial Economics
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Microeconomic theory, its application to managerial problems. Introduction to regression analysis, demand analysis, demand function estimation, forecasting, cost function estimation, resource allocation decisions, linear programming, market structure, pricing policy, risk analysis, investment analysis. prereq - ApEc 3001 or Econ 3101 AND SCO 2550 or Stat 3011
APEC 3202 - An Introduction to the Food System: Analysis, Management and Design
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Introduction to use of systems thinking for exploration of problems in contemporary food system from multidisciplinary perspective. System concepts. Historical evolution of food system. Analysis, management, design.
APEC 3411 - Commodity Marketing
Credits: 3.0 [max 3.0]
Course Equivalencies: 02506 - ApEc 3411/ApEc 5411
Typically offered: Every Fall
Economic concepts related to marketing agricultural commodities. Conditions of competitive markets, historical perspectives on market institutions/policy, structural characteristics of markets, policies/regulations affecting agricultural marketing of livestock, crop, and dairy products. prereq: 1101 or Econ 1101
APEC 3451 - Food and Agricultural Sales
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Professional selling of agricultural and food products. Students build/refine sales abilities, identify/qualify prospects, deliver sales presentations, close the sale. Principles of market research. prereq: 1101 or Econ 1101
APEC 3501 - Agribusiness Finance
Credits: 3.0 [max 3.0]
Course Equivalencies: 00196
Typically offered: Every Fall
Analysis of financing and investment strategies for agribusiness firms and their effects on liquidity, solvency, and profitability. Analysis of financial institutions, markets, and instruments. Management problems, issues facing financial intermediaries serving agriculture. prereq: [[1251 or Acct 2050], 60 cr] or instr consent
APEC 3551 - Entrepreneurship Fundamentals for Value-Added Rural Businesses
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Process of starting a new business or organization. Creating a new value proposition in which people are willing to pay for this new product or service according to its perceived value. Students identify market niches and develop plans to exploit them. Student-run businesses may be created as well as self-standing independent businesses.
APEC 3811 - Principles of Farm Management
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Strategic and operations aspects of farm management; financial analysis, budgeting, strategic management; marketing plan and control; enterprise and whole farm planning and control; investment analysis, quality, risk, and personnel management. prereq: 1101 or Econ 1101
APEC 3821 - Retail Center Management
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Management of garden centers, grocery stores, and other retail units selling perishable agricultural products. prereq: [1101 or Econ 1101], [1251 or Acct 2050]
APEC 3840 - Cooperative Organization
Credits: 3.0 [max 3.0]
Course Equivalencies: 02156 - ApEc 3840/ApEc 5811
Typically offered: Every Fall
Introduction to cooperative form of business. Extensive applications to agricultural/food cooperatives used. Active-student learning process with group activities/written exercises.
APEC 3991 - Independent Study in Applied Economics
Credits: 1.0 -4.0 [max 12.0]
Typically offered: Every Fall, Spring & Summer
Independent study and supervised reading and research on subjects and problems not covered in regularly offered courses. prereq: instr consent
APEC 4451W - Food Marketing Economics (CIV, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 00385 - ApEc 4451W/ApEc 5451
Typically offered: Every Fall
Economics of food marketing in the United States. Food consumption trends, consumer food behavior, marketing strategies, consumer survey methodology, food distribution/retailing system. Policy issues related to food marketing. Individual/group projects. prereq: [[1101 or Econ 1101], [1101H or Econ 1101H], SCO 2550 or STAT 3011 or equiv, 60 cr] or instr consent
APEC 4461 - Horticultural Marketing
Credits: 3.0 [max 3.0]
Course Equivalencies: 01519 - ApEc 4461/Hort 4461
Grading Basis: A-F only
Typically offered: Every Fall
Major areas in horticultural marketing. Difference between horticultural products and commercial commodities. Core marketing components that should be used by every small horticultural business. Approaches to consumer research.
APEC 4481 - Futures and Options Markets
Credits: 3.0 [max 3.0]
Course Equivalencies: ApEc 4481/5481
Typically offered: Every Spring
Economics of futures/options trading in theory/application. Basis/price relationship in storable/nonstorable commodities. Hedging/commercial use of futures/options contracts. Speculation. Pricing efficiency. Market performances/regulation. prereq: [[3001 or Econ 3101], [AnSc 3011 or SCO 2550 or Stat 3011],] or instr consent
APEC 4501 - Financial Modeling: Spreadsheet Applications in Finance, Management, and Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Designing/implementing solutions to financial problems with MS ExcelŽ spreadsheet and VBA programming language. Registration requires a proposal for a term project that will solve a real world problem for a real or hypothetical client. Details at http://wlazarus.cfans.umn.edu/teaching/. prereq: [APEC 3501 or FINA 3001], [APEC 1251 or ACCT 2050]
APEC 4821W - Business Economics and Strategy (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 02511 - ApEc 4821W/ApEc 5821
Typically offered: Every Spring
Strategic management for production, processing, wholesaling, retailing, and service. Strategy formulation, implementation, and control. Business plans. Case study analysis. prereq: 3002, [3501 or FINA 3001], and [ACCT 3001 or MGMT 3001 or MKTG 3001]