170 / FIELDS OF INSTRUCTION

economics. May be repeated with change in content up to a maximum of 6 credits.
FRE 610-EcoNoMICS OF AGRICULTURAL PRODUCTION. 4 credits
 Prerequisites: FRE 460, ES 402. Microeconomic analysis of problems of producer
choice. Principles are generalized to multi-factor, multi-product cases for various
market structures. Empirical production, cost, and input demand functions are
analyzed.
FRE 611-EcoNOMICS OF AGGREGATE OUTPUT IN AGRICULTURE. 3 credits
 Prerequisite: FRE 610. Producer choices and consequences at the commodity and
industry levels. Aggregate behavior of producers in relation to the welfare of society.
FRE 612-DYNAMICS OF AGRICULTURAL PRODUCTION AND FIRM GROWTH.
 4 credits
 Prerequisite: FRE 610. Dynamics of production and problems of firm growth.
Effects of risk and uncertainty on the production process and application of decision
theory in nonstatic contexts.
FRE 620-CONSUMPTION AND DEMAND: FARM PRODUCTS AND MARKETING
 SERVICES. 4 credits
 Prerequisites: FRE 460, ES 402. Theories of consumer behavior in static and
dynamic contexts; analysis of household expenditure and demand.
FRE 621-INDUSTRIAL ORGANIZATION OF AGRICULTURAL MARKETS. 4 credits
 Prerequisite: ES 302 or ES 402. Application of economic theory to analysis of
market structure, conduct, and performance. Evaluation of current public policy
and institutional arrangements.
FRE 630-NATURAL RESOURCE ECONOMICS. 4 credits
 Prerequisites: FRE 460, ES 401, and consent of instructor. Economic principles as
they relate to natural resource development; economic objectives, criteria for
evaluation, and agency use of criteria for natural resource development.
FRE 631-LAND TENURE AND TAXATION IN AGRICULTURE. 4 credits
 Prerequisite: FRE 430. Philosophy and history of property rights and taxation.
Effects of property rights and taxes on factor employment, land use, output, land
values, income distribution, and social welfare.
FRE 640-FOUNDATIONS OF AGRICULTURAL POLICIES. 3 credits
 Prerequisite: FRE 440. Analysis of policy-making processes. Interrelationships
among economic, political, and social goals, and actions which shape the institutional
arrangements of the agricultural economy and its relations with other sectors.
FRE 641-AGRICULTURAL POLICIES AND PROGRAMS IN THE UNITED STATES.
 3 credits
 Prerequisites: FRE 440, ES 202. Theoretical and empirical treatment of relation
between goals and programs. Effects of policies on volume and location of output,
prices, and income in the U. S. economy.
FRE 643-REGIONAL INCOME ACCOUNTING FOR RURAL AREAS. 4 credits
 Prerequisites: ES 401, ES 402. Regional accounting systems, including income
and product, input-output, flow of funds, balance of payments, and the regional
balance sheet. Constructing regional accounts for rural areas. Data requirements
and availability. Accounting systems in rural area development policy.
FRE 644-REGIONAL ECONOMIC PLANNING FOR RURAL AREAS. 4 credits
 Prerequisites: FRE 643; FRE 660. General theory of regional and location
economics. Analytical models for regional analysis; input-output, linear programming,
location quotients, population and gravity models, and simulation techniques.
FRE 645-ECONOMIC DEVELOPMENT AND AGRICULTURE. 5 credits