What is Agricultural Economics?
Agricultural Economics is a specific field of economics that involves the application of economic principles to agricultural markets, businesses, and government policy. Specifically, agricultural economics is the study of choices consumers, agribusiness managers, and government officials make to attain their goals given that they have limited or scarce resources. Students of agricultural economics study the production, consumption, and distribution of goods and services in the agriculture, agri-food, and agri-fiber industry. These studies attempt to clarify how the use of natural, technological, and financial resources affects agriculture, food processing, agricultural lending, corporate management, environmental sustainability and other related economic sectors.
Why should a prospective student consider majoring in Agricultural Economics?
The agriculture and agri-food industry feeds the world and develops innovative products that meet the needs of consumers throughout the economy. If you have a passion for or desire to work as a business leader in agriculture, food processing, agricultural lending, corporate management, environmental sustainability or other related fields, the BYU-Idaho agricultural economics degree is a great choice. It's a field where economics, business, and agriculture merge. The agriculturally-related industries are vibrant with numerous opportunities domestically and internationally for growth and career advancement.
What interest and values are related to Agricultural Economics?
Students of agricultural economics have an aptitude for quantitative and analytical reasoning, but in addition, they also enjoy applied problems, generally related the agri-food and agri-fiber industry. In addition, students often have an interest in agricultural sciences, food science and nutrition. Many are also interested in regional and international development, poverty, environmental issues, and climate.
What career fields are related to Agriculture Economics?
Potential careers include commodity traders, wholesale buyers, corporate managers, specialists with major agricultural companies and banks, specialists in crop consulting, machinery management, farm and ranch management, real estate appraisal, marketing, range resource management, government agency workers and researchers.