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. Diversity: 3 cr.
3 cr. from approved list.
Communication/Library: 13 cr.
| ENGL 150 | Critical Thinking and Communication | 3 |
| ENGL 250 | 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 160 | Introduction to College Level Research | 1 |
| Communication Proficiency Requirement: A grade of C or better in ENGL 250, a C or better in either ENGL 150 or (ENGL 302 or ENGL 309 or ENGL 314), and a C or better in the speech fundamentals course (SP CM 212 or AGEDS 311). | ||
| Total Credits | 13 | |
Humanities and Social Sciences: 6 cr.
| ECON 102 | 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 226 | 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 101 | Principles of Microeconomics | 3 |
| ECON 301 | Intermediate Microeconomics | 3-4 |
| One of the following: | 3 | |
| Intermediate Macroeconomics | ||
| Money, Banking, and Financial Institutions | ||
| ECON 492 | Graduating Senior Survey | R |
| Total Credits | 9-10 | |
Business and Agricultural Business: 32 cr.
| ACCT 284 | Financial Accounting | 3 |
| FIN 301 | Principles of Finance | 3 |
| Six credits from ACCT 285 or any 300-489 ACCT, FIN, MKT, MGMT, MIS, or SCM courses. | 6 | |
| ECON 110 | Orientation in Agricultural Business | 1 |
| ECON 235 | Introduction to Agricultural Markets | 3 |
| ECON 292 | Career Seminar | 1 |
| Three credits from STAT 326 or DS 201 | 3 | |
| Nine credits of ECON 230-239, 300-389, 400-489 courses. | 9 | |
| Three credits of 400-489 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 101 Principles of Microeconomics, ECON 102 Principles of Macroeconomics, ECON 301 Intermediate Microeconomics, and ECON 302 Intermediate Macroeconomics, with no grade in these lower than a C‐.
Bachelor of Science, Agricultural Business
| Freshman | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| ECON 110 | 1 | ECON 102 | 3 |
| ECON 101 | 3 | ECON 235 | 3 |
| ECON 101L | 1 | BIOL 101 or 211 | 3 |
| ENGL 150 | 3 | ECON 207 or MATH 166 | 3-4 |
| LIB 160 | 1 | Ag Science or Humanities | 3 |
| MATH 160 or 165 | 4 | ||
| Ag Science or Humanities | 3 | ||
| 16 | 15-16 | ||
| Sophomore | |||
| Fall | Credits | Spring | Credits |
| ACCT 284 | 3 | ENGL 250 | 3 |
| ECON 301 | 3-4 | STAT 326 or DS 201b | 3 |
| ECON 292 | 1 | CHEM 163 or PHYS 131 | 4 |
| STAT 226 | 3 | CHEM 163L or PHYS 131L | 1 |
| Ag Science or Humanities | 3 | International or Diversity | 3 |
| Life Sciences | 3 | ||
| 13-14 | 17 | ||
| Junior | |||
| Fall | Credits | Spring | Credits |
| Business electivea | 3 | ECON 230-239, 300-389, or 400-489 | 3 |
| ECON 230-239, 300-389, or 400-489 | 6 | FIN 301 | 3 |
| SP CM 212 or AGEDS 311 | 3 | International or Diversity | 3 |
| Ethics | 3 | ECON 302 or 353 | 3 |
| Elective | 3 | ||
| 15 | 15 | ||
| Senior | |||
| Fall | Credits | Spring | Credits |
| Business electivea | 3 | ECON 400-489 | 3 |
| ENGL 302, 309, or 314 | 3 | ECON 492 | R |
| Electives | 9 | Electives | 12 |
| 15 | 15 | ||
a. Select six credits from ACCT 285 or any 300-489 ACCT, FIN, MKT, MGMT, MIS, or SCM courses.
b. Students majoring in Economics or adding the Finance Business Option must take STAT 326. 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 300 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 101 | Principles of Microeconomics | 3 |
| ECON 230 | Farm Business Management | 3 |
| ECON 235 | Introduction to Agricultural Markets | 3 |
| ECON 301 | Intermediate Microeconomics | 3-4 |
| Three credits of ECON courses from: 300-389, 400-489 courses. | 3 | |
The Department of Economics has concurrent Bachelor of Science /Master of Science (BS/MS) programs designed especially for seniors who wish to pursue advanced studies. Concurrent BS/MS programs are: agricultural business (BS) with agricultural economics (MS) or with economics (MS). The concurrent BS/MS program allows seniors to complete an MS degree within 12 months of BS 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