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Twin Cities Campus

Applied Economics B.S.

Applied Economics
College of Food, Agricultural and Natural Resource Sciences
  • Program Type: Baccalaureate
  • Requirements for this program are current for Spring 2018
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 53 to 56
  • Degree: Bachelor of Science
The applied economics major is designed to give students a solid foundation in economics and in how it is applied in the real world to improve people's lives. Core courses provide training in microeconomics, macroeconomics, and econometrics. Additional courses focus on environmental and resource economics, international and development economics, agricultural economics, and the economics of the public sector. Students majoring in applied economics develop strong critical-thinking skills, data analysis proficiency, and the ability to communicate their ideas in writing. Our students have pursued careers in government and in the private sector using their BS degrees. Others have pursued professional or graduate training in economics, law, management, or public policy. Students majoring in agricultural and food business management and applied economics cannot minor in either of the the department minors (AFBM or APEC). We highly encourage students to pursue a university-wide minor or if they are in AFBM, one of the department-specific minors offered through CSOM.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
General Requirements
All students in baccalaureate degree programs are required to complete general University and college requirements including writing and liberal education courses. For more information about University-wide requirements, see the liberal education requirements. Required courses for the major, minor or certificate in which a student receives a D grade (with or without plus or minus) do not count toward the major, minor or certificate (including transfer courses).
Program Requirements
All major requirements must be taken A-F (unless only offered S-N), and students must earn a grade of at least C- or better.
Foundations Core
WRIT 3562W - Technical and Professional Writing [WI] (4.0 cr)
COMM 1101 - Introduction to Public Speaking [CIV] (3.0 cr)
or AFEE 2421 - Professional Communication for Agriculture, Food, and the Environment (3.0 cr)
COMM 5441 - Communication in Human Organizations (3.0 cr)
or COMM 3422 - Interviewing and Communication (3.0 cr)
or WRIT 3029W - Business and Professional Writing [WI] (3.0 cr)
or WRIT 3441 - Editing, Critique, and Style (3.0 cr)
or WRIT 3257 - Technical and Professional Presentations (3.0 cr)
or AFEE 3430 - Communicating Food, Agriculture & Environmental Science to the Public (3.0 cr)
Students considering graduate study in applied economics are encouraged to take MATH 1271 and MATH 1272.
MATH 1142 - Short Calculus [MATH] (4.0 cr)
or MATH 1271 - Calculus I [MATH] (4.0 cr)
Professional Courses
APEC 1001 - Orientation to Applied Economics (1.0 cr)
or CFAN 3201 - Career and Internship Preparation (1.0 cr)
or ICP 3201 - Career and Internship Preparation (1.0 cr)
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)
APEC 1102 - Principles of Macroeconomics (3.0 cr)
or ECON 1102 - Principles of Macroeconomics (4.0 cr)
APEC 3001 - Applied Microeconomics: Consumers, Producers, and Markets (4.0 cr)
APEC 3002 - Applied Microeconomics: Managerial Economics (4.0 cr)
or APEC 3003 - Introduction to Applied Econometrics (4.0 cr)
APEC 3006 - Applied Macroeconomics: Government and the Economy (3.0 cr)
SCO 2550 - Business Statistics: Data Sources, Presentation, and Analysis (4.0 cr)
or STAT 3011 - Introduction to Statistical Analysis [MATH] (4.0 cr)
Experiential Learning
AIM 4011 - Student Project/Field Investigation (3.0 cr)
or CFAN 3096 - Making the Most of your Internship (1.0 cr)
or ESPM 1202 - People, Land, and Water: Systems Under Stress [HIS] (3.0 cr)
or FSCN 2001 - Healthy Foods, Healthy Lives: A Food System Approach to Cooking (3.0 cr)
Interdisciplinary Learning
APEC 3202 - An Introduction to the Food System: Analysis, Management and Design (3.0 cr)
or ESPM 1011 - Issues in the Environment [ENV] (3.0 cr)
or FSCN 1102 - Food: Safety, Risks, and Technology [CIV] (3.0 cr)
or GCC 3017 - Grand Challenge: World Food Problems: Agronomics, Economics and Hunger [GP] (3.0 cr)
or ANSC 3203W - Environment, Global Food Production, and the Citizen [GP, WI] (3.0 cr)
or AGRO 3203W - Environment, Global Food Production, and the Citizen [GP, WI] (3.0 cr)
Professional Application Cluster
Take 12 or more credit(s) from the following:
· APEC 3xxx
· APEC 4xxx
· APEC 5xxx
Upper Division Writing Intensive within the major
Students are required to take one upper division writing intensive course within the major. If that requirement has not been satisfied within the core major requirements, students must choose one course from the following list. Some of these courses may also fulfill other major requirements.
Take 0 - 1 course(s) from the following:
· WRIT 3029W - Business and Professional Writing [WI] (3.0 cr)
· WRIT 3562W - Technical and Professional Writing [WI] (4.0 cr)
· ANSC 3203W - Environment, Global Food Production, and the Citizen [GP, WI] (3.0 cr)
or AGRO 3203W - Environment, Global Food Production, and the Citizen [GP, WI] (3.0 cr)
 
More program views..
View college catalog(s):
· College of Food, Agricultural and Natural Resource Sciences

View sample plan(s):
· Applied Economics BS Sample Plan

View checkpoint chart:
· Applied Economics B.S.
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WRIT 3562W - Technical and Professional Writing (WI)
Credits: 4.0 [max 4.0]
Course Equivalencies: 01235 - Writ 3562V/Writ 3562W
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Technical and professional writing communicates complex information to solve problems or complete tasks. It requires not only knowledge of workplace genres, but also a skill of composing such genres. This course allows students to practice rhetorically analyzing writing situations and composing workplace genres: memos, proposals, instructions, research reports, and presentations.
COMM 1101 - Introduction to Public Speaking (CIV)
Credits: 3.0 [max 3.0]
Course Equivalencies: 00670
Typically offered: Every Fall, Spring & Summer
Public communication processes, elements, and ethics. Criticism of and response to public discourse. Practice in individual speaking designed to encourage civic participation.
AFEE 2421 - Professional Communication for Agriculture, Food, and the Environment
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Speaking/writing about scientific/technical issues. Student-centered, relies on interaction/participation. Public communication.
COMM 5441 - Communication in Human Organizations
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Communication in organizational settings. Organizational structure and dynamics and their effect upon the communication process. Individual projects.
COMM 3422 - Interviewing and Communication
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Application of communication concepts in information interview. Planning, conducting, and evaluating informational, journalistic/elite, helping, persuasive, appraisal, and employment interviews. Class training, field experience.
WRIT 3029W - Business and Professional Writing (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01353
Typically offered: Every Fall & Spring
Practice writing for various professional purposes/audiences, using appropriate styles, tones, and organizational elements. Potential genres include proposals, reports, web content, email, executive summaries, job search portfolios. Attention to workplace collaboration and broader issues of professional literacy.
WRIT 3441 - Editing, Critique, and Style
Credits: 3.0 [max 3.0]
Course Equivalencies: 01667
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Editing for style, correctness, and content. Grammar/punctuation, Copyediting/proofreading. Working with a writer to develop, organize, write, and polish a document. Editing technical/scientific information. Paper/electronic assignments. prereq: Soph or jr or sr
WRIT 3257 - Technical and Professional Presentations
Credits: 3.0 [max 3.0]
Grading Basis: OPT No Aud
Typically offered: Every Fall & Spring
Oral presentation skills for technical or professional topics. Visual communication, audience analysis, organizing presentation, presenting complex material. Emphasizes use of computers.
AFEE 3430 - Communicating Food, Agriculture & Environmental Science to the Public
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Planning/strategy for communication campaigns related to food/agriculture. Student-centered, relies on interaction/participation. prereq: Sophomore standing or 30 cr
MATH 1142 - Short Calculus (MATH)
Credits: 4.0 [max 4.0]
Typically offered: Every Fall, Spring & Summer
A streamlined one-semester tour of differential and integral calculus in one variable, and differential calculus in two variables. No trigonometry/does not have the same depth as MATH 1271-1272. Formulas and their interpretation and use in applications. prereq: Satisfactory score on placement test or grade of at least C- in [1031 or 1051]
MATH 1271 - Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00067 - Math 1271/Math 1281/Math 1371/
Typically offered: Every Fall, Spring & Summer
Differential calculus of functions of a single variable, including polynomial, rational, exponential, and trig functions. Applications, including optimization and related rates problems. Single variable integral calculus, using anti-derivatives and simple substitution. Applications may include area, volume, work problems. prereq: 4 yrs high school math including trig or satisfactory score on placement test or grade of at least C- in [1151 or 1155]
APEC 1001 - Orientation to Applied Economics
Credits: 1.0 [max 1.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Introduction to curriculum offerings, liberal education requirements, employment opportunities, faculty in the Department of Applied Economics. Emphasizes historical development of the discipline, areas of specialization, coursework expectations, career planning.
CFAN 3201 - Career and Internship Preparation
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Self exploration, networking, industry research, job/internship search, resumes, cover letters, interviewing, salary negotiation, goal setting. prereq: Soph or jr or sr or grad student
ICP 3201 - Career and Internship Preparation
Credits: 1.0 [max 1.0]
Prerequisites: Soph or jr or sr or grad student
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Self exploration, networking, industry research, job/internship search, resumes, cover letters, interviewing, salary negotiation, goal setting. prereq: Soph or jr or sr or grad student
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 1102 - Principles of Macroeconomics
Credits: 3.0 [max 3.0]
Course Equivalencies: 00323 - ApEc 1102ApEc 1102H/Econ 1102
Typically offered: Every Spring
Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development. prereq: 1101 or Econ 1101
ECON 1102 - Principles of Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: 00020 - ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall, Spring & Summer
Aggregate consumption, saving, investment, and national income. Role of money, banking, and business cycles in domestic and world economy. International trade, growth, and development. U.S. economy and its role in the world economy. International interdependencies among nations. prereq: [1101 or equiv], 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 3003 - Introduction to Applied Econometrics
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Spring
Econometrics is the core empirical methodology used in economics. It allows economists (and others) to learn about the world through data in non-experimental situations. This course teaches student how to use common types of econometric analysis to answer research questions in an experiential learning environment. prereq: APEC 1101 or equiv., STAT 3011 or equiv.
APEC 3006 - Applied Macroeconomics: Government and the Economy
Credits: 3.0 [max 3.0]
Course Equivalencies: 00026 - Econ 3102/ApEc 3006
Typically offered: Every Fall & Spring
Public sector and market economics. Public goods, externalities, and other allocation issues. Government and stabilization of national economy. Overview of new classical/Keynesian models. Principles of taxation. Individual income tax. Sales, business, and property taxes. prereq: [[1102 or Econ 1102], [3001 or Econ 3101]] or instr consent
SCO 2550 - Business Statistics: Data Sources, Presentation, and Analysis
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Data analysis, basic inferential procedures, statistical sampling/design, regression/time series analysis. How statistical thinking contributes to improved decision making. prereq: [Math 1031 or equiv], at least 30 cr
STAT 3011 - Introduction to Statistical Analysis (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: (Select a set)
Typically offered: Every Fall, Spring & Summer
Standard statistical reasoning. Simple statistical methods. Social/physical sciences. Mathematical reasoning behind facts in daily news. Basic computing environment.
AIM 4011 - Student Project/Field Investigation
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Application of marketing knowledge that involves building a complete marketing plan for an agricultural product or device. Team projects are used.
CFAN 3096 - Making the Most of your Internship
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Enhance quality internship experience. Insight about self, world of work, individual learning styles. Communicate skills/learning. prereq: Secured internship, instr consent
ESPM 1202 - People, Land, and Water: Systems Under Stress (HIS)
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Spring
Policies/community engagement around water sustainability. Students engage directly with local case on Mississippi River.
FSCN 2001 - Healthy Foods, Healthy Lives: A Food System Approach to Cooking
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Skills/resources for food choices based on nutritional, environmental, local/global societal implications. Ethical/civic themes that guide food choices. Discussion/writing on how environmental, cultural, social, health issues impact personal food choices. prereq: [soph, jr, sr] or instr consent
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.
ESPM 1011 - Issues in the Environment (ENV)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Interdisciplinary survey of environmental issues. Interrelationships between environment and human society. Roles of science, technology, and policy in meeting environmental challenges. Lecture, discussion. Students evaluate social, ethical, political, and economic factors.
FSCN 1102 - Food: Safety, Risks, and Technology (CIV)
Credits: 3.0 [max 3.0]
Grading Basis: OPT No Aud
Typically offered: Every Fall & Spring
Introduction to inherent risks/safety of food supply. Use of public policy and food technology to reduce risks. Microbiological, chemical, and environmental hazards, government/industry controls.
GCC 3017 - Grand Challenge: World Food Problems: Agronomics, Economics and Hunger (GP)
Credits: 3.0 [max 3.0]
Course Equivalencies: 00136
Grading Basis: A-F only
Typically offered: Periodic Fall
This course provides a multi-disciplinary look at problems (and some of the possible solutions) affecting food production, distribution and requirements for the seven plus billion inhabitants of this planet. It is co-taught by an agronomist (Porter) and an economist (Runge) who together have worked on international food production and policy issues for the past 40 years. Historical context, the present situation and future scenarios related to the human population and food production are examined. Presentations and discussions cover sometimes conflicting views from multiple perspectives on population growth, use of technology, as well as the ethical and cultural values of people in various parts of the world. The global challenge perspective is reflected in attention to issues of poverty, inequality, gender, the legacy of colonialism, and racial and ethnic prejudice. Emphasis is placed on the need for governments, international assistance agencies, international research and extension centers, as well as the private sector to assist in solving the complex problems associated with malnutrition, undernutrition, obesity and sustainable food production. Through a better understanding of world food problems, this course enables students to reflect on the shared sense of responsibility by nations, the international community and ourselves to build and maintain a stronger sense of our roles as historical agents. Throughout the semester students are exposed to issues related to world food problems through the lenses of two instructors from different disciplinary backgrounds. The core issues of malnutrition and food production are approached simultaneously from a production perspective as well as an economic and policy perspective throughout the semester.
ANSC 3203W - Environment, Global Food Production, and the Citizen (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Agro/AnSc 3203/AgUM 2224
Typically offered: Every Spring
Ecological/ethical concerns of food production systems in global agriculture: past, present, and future. Underlying ethical positions about how agroecosystems should be configured. Interactive learning using decision cases, discussions, videos, other media.
AGRO 3203W - Environment, Global Food Production, and the Citizen (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Agro/AnSc 3203/AgUM 2224
Typically offered: Every Spring
Ecological/ethical concerns of food production systems in global agriculture: past, present, and future. Underlying ethical positions about how agroecosystems should be configured. Decision cases, discussions, videos, other media.
WRIT 3029W - Business and Professional Writing (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01353
Typically offered: Every Fall & Spring
Practice writing for various professional purposes/audiences, using appropriate styles, tones, and organizational elements. Potential genres include proposals, reports, web content, email, executive summaries, job search portfolios. Attention to workplace collaboration and broader issues of professional literacy.
WRIT 3562W - Technical and Professional Writing (WI)
Credits: 4.0 [max 4.0]
Course Equivalencies: 01235 - Writ 3562V/Writ 3562W
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Technical and professional writing communicates complex information to solve problems or complete tasks. It requires not only knowledge of workplace genres, but also a skill of composing such genres. This course allows students to practice rhetorically analyzing writing situations and composing workplace genres: memos, proposals, instructions, research reports, and presentations.
ANSC 3203W - Environment, Global Food Production, and the Citizen (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Agro/AnSc 3203/AgUM 2224
Typically offered: Every Spring
Ecological/ethical concerns of food production systems in global agriculture: past, present, and future. Underlying ethical positions about how agroecosystems should be configured. Interactive learning using decision cases, discussions, videos, other media.
AGRO 3203W - Environment, Global Food Production, and the Citizen (GP, WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: Agro/AnSc 3203/AgUM 2224
Typically offered: Every Spring
Ecological/ethical concerns of food production systems in global agriculture: past, present, and future. Underlying ethical positions about how agroecosystems should be configured. Decision cases, discussions, videos, other media.