Master of Science (M.S.)

Our Program

Advanced study leading to the master of science degree in the field of agricultural economics prepares students for such professional careers as:

Commodity outlook analyst/trader
Management specialist in business firms
Loan analyst or bank officer
Government planner
Economic analyst or research coordinator in various branches of local, state, and federal governments
Market analyst
Strategic planner
International marketing manager
Business forecasting specialist
Research analyst or extension specialist at land-grant universities and agricultural colleges

Find important information for the agricultural economics graduate program below:

Basic Information

Three alternatives exist for satisfying requirements for the M.S. degree:

30 credit hours, including six credit hours for a thesis;
32 credit hours, including two credit hours for a formal report; and
33 credit hours of course work and a creative component. Students holding an assistantship are required to write a thesis.

The primary opportunity for differentiation and specialization by the M.S. degree student on assistantship is through development of a research project and choice of electives. Students not writing a thesis will have more hours of electives and will be able to specialize through their selection of courses.

The candidate's ability to understand the concepts and to use the tools of the agricultural economist are more important than mastery of factual details. Students must take a final oral examination. This examination tests the student's understanding of economic principles and methods, as well as their application to real-world situations.

Degree Requirements
1. Admission to the program.
2. Successfully completing the courses included on an approved plan of study.
3. Conducting the research necessary to prepare a M.S. thesis, formal report, or informal report (creative component).
4. Passing a final oral examination in defense of the thesis, formal report, or informal report (creative component).
5. Preparing a draft of a publication based on the thesis research.
6. A graduation clearance form should be submitted online in the semester the student intends to complete degree requirements. See graduate college academic calendar.
7. A diploma application should be submitted online in the semester the student intends to complete degree requirements. See graduate college academic calendar.
Core Requirements
The core requirements for M.S. degree candidates assure breadth and competence in key areas of knowledge and professional activity. The following courses constitute the core of the general M.S. program:
- AGEC 5101 Research Methodology (required for thesis students only)
- AGEC 5103 Mathematical Economics
- AGEC 5403 Production Economics or ECON 5033 Macroeconomic Theory I
+ 6 hrs from:
- STAT 5543 Applied Regression Analysis
- AGEC 5213 Econometric Methods
- AGEC 5113 Applications of Mathematical Programming
The above courses are preferred, but the following substitutions are permissible:
- ECON 5043 Microeconomic Analysis for AGEC 5103
- ECON 6213 Econometrics I for AGEC 5213
Six additional hours in agricultural economics at the 5000 or 6000 level (exclusive AGEC 5000) are required, with a minimum of 3 hours in marketing or prices. A total of 21 credit hours at 5000 and 6000 level is required.

The department encourages M.S. degree candidates to broaden their training by taking courses in fields related to or in support of agricultural economics. Electives in such fields as economics, statistics, accounting, public finance, marketing, management, agronomy, animal science, forestry, horticulture, operations research, mathematics, sociology, and philosophy may be selected to complete the student's program, illustrating the flexibility of M.S. degree programs in agricultural economics.

Some suggested elective courses for M.S. degree programs follow. However, the student should select courses that best fit his or her goals in consultation with his or her advisory committee.
Suggested Elective Courses
- AGEC 5203 Advanced Agricultural Prices (odd years)
- AGEC 5233 Primary Data Analysis in Economic Research (odd years)
- AGEC 5303 Agricultural Market and Policy Organization
- AGEC 5503 Economics of Natural and Environmental Resource Policy
- AGEC 5603 Advanced Agricultural Finance
- AGEC 5723 Planning and Policy for Development
- AGEC 5733 International Agricultural Policy and Development (even years)
- AGEC 5113 Financial Accounting Research
- AGIN 5723 Participation Systems Modeling
- AGIN 5313 Global Food Security and Sustainability
- ECON 5033 Macroeconomic Analysis
- ECON 5603 Global Economics
- ECON 5173 Energy Economics
- FIN 5223 Investment Theory and Strategy
- FIN 5763 Derivative Securities and The Management of Financial Price Risk
- IEM 5023 Optimization Applications
Agribusiness Specialization
The agribusiness specialization is designed to insure development of analytical skills and the capacity to cope with a broad expanse of agribusiness-oriented problems and decision situations. The agribusiness specialization is noted on the student's transcript. The elective courses are:
- AGEC 5113 Applications of Mathematical Programming
- AGEC 5203 Advanced Agricultural Prices(odd years)
- AGEC 5233 Primary Data Analysis in Economic Research
- AGEC 5303 Agricultural Market and Policy Organization
- AGEC 5423 Advanced Agribusiness Management
- AGEC 5503 Economics of Natural and Environmental Resource Policy
- FIN 5213 International Business Finance
- FIN 5223 Investment Theory and Strategy
- FIN 5053 Theory and Practice of Financial Management
- MGMT 5113 Management and Organizational Theory
- MKTG 5133 Marketing Management
- MKTG 5553 International Marketing Strategy
- MKTG 5613 Seminar in Consumer Behavior
- MSIS 5313 Production Operations Management
International Agricultural Development Emphasis
The international agricultural development emphasis is designed to prepare students for positions as
1. agricultural program advisors in international development organizations,
2. rural project and area administrators in foreign governments
3. technical personnel in national and regional planning agencies for agricultural development, and
4. foreign agricultural experts in private corporations. The elective courses are:
- AGEC 5733 International Agricultural Policy and Development (even years)
- AGEC 5503 Economics of Natural and Environmental Resource Policy
- AGEC 5723 Planning and Policy for Development
- ECON 5033 Macroeconomic Analysis
- ECON 6623 Economic Development I
Preparation for Ph.D. in Ag Econ
Students wishing to prepare for a Ph.D. program may wish to select electives from the following:
- ECON 5033 Macroeconomic Analysis
- ECON 5303 Agricultural Market and Policy Organization
- AGEC 5733 International Agricultural Policy and Development (even years)
- AGEC 5503 Economics of Natural and Environmental Resource Policy
- AGEC 5203 Advanced Agricultural Prices
Example M.S. Plan of Study (thesis option)
Plans of study are customized to meet the needs of the student. The student prepares the plan with input from the student's advisor and advisory committee. All members of the advisory committee and the department head must sign the plan. A typical M.S. plan of study includes eight three-hour courses, a one-hour research methodology course, and six hours for the thesis research. The following sketch of courses is provided as an example:

Fall (year one)
- AGEC 5103 Mathematical Economics (prerequisites: differential calculus; intermediate microeconomics)
- STAT 5543 Applied Regression Analysis (prerequisite: undergraduate statistics)
+ two electives
- AGEC 5423 Agribusiness Management
- AGEC 5723 Planning and Policy for Development
Spring (year one):
- AGEC 5101 Research Methodology
- AGEC 5213 Econometric Methods (prerequisite: AGEC 5103; STAT 5543 or ECON 4213)
- AGEC 5403 Production Economics (prerequisite: AGEC 5103)
+ one elective
- AGEC 5203 Advanced Agricultural Prices (prerequisite: AGEC 5103; STAT 5543) (odd years)
- AGEC 5603 Advanced Agricultural Finance
- AGEC 5713 Rural Regional Analysis (prerequisite AGEC 5103)
- AGEC 6222 Spatial Economics (even years)
Summer (year one):
- AGEC 5000 Thesis or Report in Agricultural Economics
Fall (year two):

Two electives
- AGEC 5113 Applications of Mathematical Programming
- AGEC 5233 Primary Data Analysis in Economic Research (odd years)
- AGEC 5303 Agricultural Market and Policy Organization
- AGEC 5423 Agribusiness Management
- AGEC 5723 Planning and Policy for Development
- ECON 5033 Macroeconomic Analysis
Spring (year two):
- AGEC 5000 Thesis or Report in Agricultural Economics
M.S. Thesis or Report

Students who plan to write a thesis or report are encouraged to obtain a copy of the Thesis and Dissertation Guidelines. A thesis or report must conform to the format specifications set forth in these guidelines. The style of the document is to be determined by the Academic Advisory Committee and should be reflective of publications in the student’s discipline. The style of a creative component need not conform to the format of the guidelines.

Since a report must conform to the same format and other requirements as specified by the Graduate College, and since the report option requires two additional hours, use of the report option is not encouraged. After completing the research, the student prepares a complete and legible final draft of the proposed thesis or report and submits a copy to each member of the examining committee. Theses and formal reports must be signed by the advisor and be submitted to the Graduate College no later than the stated deadline.

If the thesis or report option is used, the student arranges for the final examination after the draft copy of the thesis or report has been filed at the Graduate College and/or distributed as described in the preceding section. A draft of a publication from the thesis or report must be submitted to your major professor before the final draft is signed.
Creative Component

A creative component is a scholarly product that does not qualify as a research thesis or report. Examples of creative components are software, experiment station bulletins, extension publications, and journal articles. The creative component is an alternative to writing an M.S. thesis or report. This M.S. degree requirement is designed to enable the student to demonstrate a level of maturity beyond that of successfully taking courses and examinations. The student should exhibit such qualities as creativity and good judgment, as well as independence, clarity, depth, and breadth of thought. This alternative permits students to demonstrate their mastery of theory and skills in an applied fashion through the process of creating original work. Each creative component must be presented and defended by the student before his or her graduate committee. A one-page summary of the report, along with a form obtained from the program specialist, 417A Ag Hall, should be submitted to the program specialist to be kept in the student file.
Final Examination

All M.S. students are required to complete a final examination. The final examination is primarily a defense of the thesis, creative component, or report. If the defense is judged inadequate, a decision on whether to permit re-examination will be made by the Academic Advisory Committee. Examinations are open to all members of the graduate faculty, and may be attended by anyone else who obtains the permission of the committee. The student is responsible for arranging with the specialist to announce the defense at least two weeks in advance to faculty and graduate students in AGEC and other appropriate departments in the University. (Typically, these will include some or all of the departments in Spears School of Business and in the Division of Agricultural Sciences and Natural Resources).

The committee will notify the Graduate College immediately of results of the final examination. Following satisfactory completion of the final examination, the candidate will make changes in the thesis, report or creative component as required by the committee and by the Graduate College.