# AGEC 317

### MANAGEMENT

Dr. Oral Capps, Jr., Executive Professor, Regents Professor & Co-Director of

The Agribusiness, Food and Consumer Economics Research Center (AFCERC)

Office:

Phone:

E-mail:

Office hours:

371C AGLS Building

979-845-8492 ocapps@tamu.edu

TR 9:30 a.m. to 10:30 a.m.

Thurs 3:30 p.m. to 5:00 p.m.

MW 9:30 a.m. to Noon

MW 1:30 p.m. to 3:30 p.m.

or by appointment (979-845-5911)

## AGEC 317

Goals:

 Better understand managerial and economic issues in agribusiness management

 Provide exposure in using formal quantitative analysis to solve economic problems

 Provide a differentiated product in analyzing real world problems and gain confidence in thinking like an economic or business analyst

Textbooks (REQUIRED):

 Managerial Economics , Twelfth edition by Mark Hirschey

(Chapters 1-9 and 16)

### PREREQUISITES FOR AGEC 317

AGEC 217

MATH 142 or equivalent

STAT 303 or equivalent

ECON 323 or equivalent

Junior or Senior classification, AGEC or AGBU majors

ORDERING SAS FOR YOUR PERSONAL COMPUTER

To order SAS for your personal computer go to https://software.tamu.edu and download the Student SAS Order Form. You must complete the form and return it to the Texas A&M Software Center.

Computing Services Center, Room 1105

Phone: 979-862-4104

Fax: 979-845-2074 sell@tamu.edu

### TOPICS

 Review of Key Algebraic Concepts/Calculus

 Univariate Optimization – Use of Calculus

 Demand Analysis

 Risk Analysis

 Regression (Estimation and Inference)

 Forecasting

 Use of SAS

 Multivariate Optimization – Use of Calculus

 Linear Programming

### KEY DATES

 Exam 1: October 3

 Exam 2: November 7

 Final Exam: December 6 (501); December 11 (502)

 Class Project Team Selection: October 4

 Last Day to Q-drop: November 15

 Bonfire 1999 Remembrance Day: November 18

 Class Project Due: November 27

 Thanksgiving Holiday: November 28-29

 Last Day of Fall Semester classes: December 3

### SPECIFIC EXPECTATIONS

Understand demand and supply relationships

Solve optimization problems (either calculus-based or linear programming)

Conduct regression analysis and interpret results

Conduct tests of hypotheses within a regression analysis

Use the SAS software package for regression analysis

Make projections or forecasts

Understand decision-making under uncertainty

Ability to communicate quantitative results to decision-makers

### EVALUATION OF STUDENT PERFORMANCE

Exam 1

Exam 2

Final Exam (Cumulative)

Class Project

100 pts

100 pts

100 pts

100 pts

Daily Review Questions Bonus Points (up to 40 pts)

### STEPS TOWARD SUCCESS

 Have a positive attitude!!!

 Come to lectures, class participation

 Review lecture notes

 Speak up in class if you are confused or require clarification on concepts

 Come to help sessions

 Work early on and diligently on the class project

 Check material on my webpage or on ecampus

### HELP SESSIONS

Exam 1

Exam 2

Final Exam

October 2

November 6

December 4

7:00 p.m. to 9:00 p.m., AGLS 115

7:00 p.m. to 9:00 p.m., AGLS 115

7:00 p.m. to 9:00 p.m., AGLS 115

Help sessions also are scheduled every Wednesday evening beginning

September 4 from 7:00 p.m. to 9:00 p.m. in AGLS 115

### CAN WE STUDY IN A GROUP?

Yes!!! Studying in a group is encouraged.

For the class project, working on a team of three individuals is required.

But...

o o o o

You take individual responsibility for learning the material

Make sure YOU can do the assignments

The assignments are very similar to in-class test questions

Avoid the “free-rider” problem