The Department of Economics offers coursework for a Bachelor of Science degree in Agricultural Business. The major in Agricultural Business prepares students for advanced studies (e.g., Masters or Ph.D. in Agricultural Economics, Law School, MBA, etc.) and for careers in agricultural finance, management in agricultural supply and marketing industries, commodity merchandising and research, business research and management, farm and ranch operations, commercial farm management and appraisal, agricultural sales and marketing, agricultural reporting and public relations, agricultural extension, international activities, and government service. A minor in Agricultural Business is also possible.
Students majoring in Agricultural Business often choose elective coursework leading to minors in the College of Agriculture and Life Sciences or the Ivy College of Business, or that emphasize specific areas within agricultural business such as finance, management, commodity analysis, research, agricultural sales and marketing, environmental economics, farm and ranch operations, international economics, agricultural extension, or government service. A major in Agricultural Business with a minor in Economics is not permitted; however, a double major in Agricultural Business and Economics is permitted.
Customization of the Agricultural Business major is possible. Students may request to pursue one of three Business Options in Finance, Marketing, or Supply Chain Management. Electing a Business Option does not change the overall requirements of the Agricultural Business major. Eligibility and coursework requirements for Business Options are maintained and approved by the Department of Economics and details are available on the department website.
Student Learning Outcomes
Graduates from the Department of Economics at Iowa State University are expected to be able to:
1. Understand and apply concept of scarcity, marginal analysis, opportunity cost and comparative advantage.
2. Critically analyze the efficiency and equity implications of market and non-market processes of allocation.
3. Evaluate policies, regulations, and business strategies using economic models and theories.
4. Use quantitative and qualitative information to evaluate economic question.
5. Understand the determinants of differences in economic performance over time and across space.
Curriculum in Agricultural Business
The major in Agricultural Business requires a minimum of 120 credits and a 2.00 minimum GPA. Only 65 credits from a two-year institution may apply, which may include up to 16 technical credits. In addition, at most 9 P-NP credits of free electives can be applied toward the degree, and a minimum of 18 credits must be earned from courses taught by the Department of Economics at ISU.
International Perspective: 3 cr.
3 cr. from approved list.
U.S. Cultures and communities (Formerly U.S. Diversity): 3 cr.
3 cr. from approved list.
Communication/Library: 13 cr.
| ENGL 1500 | Critical Thinking and Communication | 3 |
| ENGL 2500 | Written, Oral, Visual, and Electronic Composition | 3 |
| One of the following | 3 | |
| Business Communication | ||
| Proposal and Report Writing | ||
| Technical Communication | ||
| One of the following | 3 | |
| Fundamentals of Public Speaking | ||
| Presentation and Sales Strategies for Agricultural Audiences | ||
| Professional Communication | ||
| LIB 1600 | Introduction to College Level Research | 1 |
| Communication Proficiency Requirement: A grade of C or better in ENGL 2500, a C or better in either ENGL 1500 or (ENGL 3020 or ENGL 3090 or ENGL 3140), and a C or better in the speech fundamentals course (SPCM 2120 or AGEDS 3110). | ||
| Total Credits | 13 | |
Humanities and Social Sciences: 6 cr.
| ECON 1020 | Principles of Macroeconomics | 3 |
| Three credits from approved course list. | 3 | |
| Total Credits | 6 | |
Ethics: 3 cr.
3 cr. from approved list.
Life Sciences: 6 cr.
| One of the following: | 3 | |
| Introductory Biology | ||
| Principles of Biology I | ||
| Three credits from approved course list. | 3 | |
| Total Credits | 6 | |
Mathematics: 10-11 cr.
| One of the following: | 4 | |
| Survey of Calculus | ||
| Calculus I | ||
| One of the following: | 3-4 | |
| Applied Economic Optimization | ||
| Calculus II | ||
| STAT 2260 | Introduction to Business Statistics I | 3 |
Physical Sciences: 5 cr.
| 5 credits from approved course list. | 5 | |
| Total Credits | 5 | |
Agricultural, Food, or Natural Resources Sciences: 6 cr.
6 cr. from approved list.
General Economics: 9-10 cr.
| ECON 1010 | Principles of Microeconomics | 3 |
| ECON 3010 | Intermediate Microeconomics | 3-4 |
| One of the following: | 3 | |
| Intermediate Macroeconomics | ||
| Money, Banking, and Financial Institutions | ||
| ECON 4920 | Graduating Senior Survey | arr † |
| Total Credits | 9-10 † | |
| † Arranged with instructor. | ||
Business and Agricultural Business: 32 cr.
| ACCT 2840 | Financial Accounting | 3 |
| FIN 3010 | Principles of Finance | 3 |
| Six credits from ACCT 2850 or any 3000-4890 ACCT, FIN, MKT, MGMT, MIS, or SCM courses. | 6 | |
| ECON 1100 | Orientation in Agricultural Business | 1 |
| ECON 2350 | Introduction to Agricultural Markets | 3 |
| ECON 2920 | 1 | |
| Three credits from STAT 3260 or DS 2010 | 3 | |
| Nine credits of ECON 2300-2390, 3000-3890, 4000-4890 courses. | 9 | |
| Three credits of 4000-4890 level ECON courses. | 3 | |
| Total Credits | 32 | |
Electives: 22-24 cr.
Agricultural Business majors seeking a double major in Economics must take an additional 9 credits of economics courses beyond those required for the Economics major for a total of 47 credits in economics and must earn a minimum GPA of 2.0 across ECON 1010 Principles of Microeconomics, ECON 1020 Principles of Macroeconomics, ECON 3010 Intermediate Microeconomics, and ECON 3020 Intermediate Macroeconomics, with no grade in these lower than a C‐.
Bachelor of Science, Agricultural Business
| Freshman | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| ECON 1100 | 1 | ECON 1020 | 3 |
| ECON 1010 | 3 | ECON 2350 | 3 |
| ECON 1010L | 1 | BIOL 1010 or 2110 | 3 |
| ENGL 1500 | 3 | ECON 2070 or MATH 1660 | 3-4 |
| LIB 1600 | 1 | Ag Science or Humanities | 3 |
| MATH 1600 or 1650 | 4 | ||
| Ag Science or Humanities | 3 | ||
| 16 | 15-16 | ||
| Sophomore | |||
| Fall | Credits | Spring | Credits |
| ACCT 2840 | 3 | ENGL 2500 | 3 |
| ECON 3010 | 3-4 | STAT 3260 or DS 2010b | 3 |
| ECON 2920A | 1 | CHEM 1630 or PHYS 1310 | 4 |
| STAT 2260 | 3 | CHEM 1630L or PHYS 1310L | 1 |
| Ag Science or Humanities | 3 | International Perspectives or U.S. Cultures and Communities (formerly U.S. Diversity) | 3 |
| Life Sciences | 3 | ||
| 13-14 | 17 | ||
| Junior | |||
| Fall | Credits | Spring | Credits |
| Business electivea | 3 | ECON 2300-2390, 3000-3890, or 4000-4890 | 3 |
| ECON 2300-2390, 3000-3890, or 4000-4890 | 6 | FIN 3010 | 3 |
| SPCM 2120 or AGEDS 3110 | 3 | International Perspectives or U.S. Cultures and Communities (formerly U.S. Diversity) | 3 |
| Ethics | 3 | ECON 3020 or 3530 | 3 |
| Elective | 3 | ||
| 15 | 15 | ||
| Senior | |||
| Fall | Credits | Spring | Credits |
| Business electivea | 3 | ECON 4000-4890 | 3 |
| ENGL 3020, 3090, or 3140 | 3 | ECON 4920 | R |
| Electives | 9 | Electives | 12 |
| 15 | 15 | ||
a. Select six credits from ACCT 2850 or any 3000-4890 ACCT, FIN, MKT, MGMT, MIS, or SCM courses.
b. Students majoring in Economics or adding the Finance Business Option must take STAT 3260. Students must take at least 1 STAT course from Iowa State for graduation.
Agricultural Business Minor
The Department of Economics offers a minor in Agricultural Business. The minor requires at least 15 credits, including 6 credits in courses numbered 3000 or above taken at Iowa State University. The minor must include at least 9 credits that are not used to meet any other Department, College, or University requirement. Courses to be included in the minimum of 15 credits include the following:
| ECON 1010 | Principles of Microeconomics | 3 |
| ECON 2300 | Farm Business Management | 3 |
| ECON 2350 | Introduction to Agricultural Markets | 3 |
| ECON 3010 | Intermediate Microeconomics | 3-4 |
| Three credits of ECON courses from: 3000-3890, 4000-4890 courses. | 3 | |
The Department of Economics has concurrent Bachelor of Science /Master of Science (B.S./M.S.) programs designed especially for seniors who wish to pursue advanced studies. Concurrent B.S./M.S. programs are agricultural business (B.S.) with agricultural economics (M.S.) or with economics (M.S.). The concurrent B.S./M.S. program allows seniors to complete an M.S. degree within 12 months of B.S. graduation.
For more information about our concurrent undergraduate and graduate programs in Agricultural Economics, visit: https://www.econ.iastate.edu/iowa-state-ms-econ-programs.