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Food, Agriculture and Resource Economics

FARE 1100 - Introduction to Business W (3-0) [0.50]
This course provides an overview as well as a foundation in the fundamentals of business management. The basic functions of business and management to be examined include: operations, human resources, marketing, finance, and strategic management. Small Business and entrepreneurship are also studied, along with other forms of business ownership, competition within a global economy, and the political and economic realities of business in Canada today. Students will develop basic competencies in business management through assignments and case studies requiring the practice of learned theory.

FARE 1300 - Poverty, Food & Hunger W (3-0) [0.50]
This course examines the nature of poverty, food security and hunger at both the local and global levels. In so doing, it explores the nature of international development more broadly and its relevance to students studying a wide range of disciplines. It aims to provide students with the basic concepts and analytical tools required to reflect critically on international development issues in the world today and the how global poverty, food insecurity and hunger might be alleviated.


FARE 2050 - Markets for Molecules W (3-0) [0.50]
This course explores markets and value chains for products and processes embodying new molecules and compounds. Economic, social and regulatory dimensions are considered in the context of molecular innovation and commercialization. Attention focuses on the role, importance and impact of consumers, entrepreneurs, government and international agencies in shaping these markets and value chains.

FARE 2410 - Agrifood Markets and Policy W (3-0) [0.50]
Students will be provided with an introduction to agrifood markets, policies and institutions. Focus will be placed on: the role and function of futures markets; domestic agrifood policies; and agrifood trade policies, instruments and institutions. Economic analysis of contemporary issues in agrifood markets will be emphasized.

FARE 2700 - Survey of Natural Resource Economics F (3-0) [0.50]
This course examines how humans, within a society, allocate natural resources - e.g., water, land, forests, and fisheries. Economic concepts and methods provide the basis for discussing and understanding both the use and misuse of natural resources.


FARE 3030 - The Firm and Markets F (3-1) [0.50]
A course in microeconomic theory applied to agricultural economics research. The theory of the firm is used to analyze production and resource use in agriculture. Resource allocation issues, risk responsive decision-making, and firm strategy on vertical and horizontal integration are studied. Consumer theory is used to analyze food purchase decision. How theoretical relationships are quantified and used in the analysis of public policy issues is emphasized.

FARE 3170 - Cost-Benefit Analysis W (3-0) [0.50]
This course covers the principles and applications of cost-benefit analysis (CBA) in environmental and natural resource issues. This course will present basic concepts and principles, supplemented with case studies of projects applying CBA to illustrate the different issues arising from the use of the CBA technique. Quantitative exercises involving analysis of actual environmental and natural resource data will be used to illustrate the mechanics of established valuations methods such as contingent valuation, hedonic approach and travel cost approach.

FARE 3250 - Food, Nutrition & International Development F (3-0) [0.50]
This course aims to provide students with an economic perspective on issues in international development related to food and nutrition, exploring the ways in which economic analysis can enhance understanding of processes of international development in the contemporary world with a particular focus on food and nutrition. Students are encouraged to consider critically an economic approach to the analysis of development issues related to food and nutrition, alongside the perspectives of other social science disciplines. Throughout the course, food and nutrition as development issues are considered in the global context, especially related to trade.

FARE 3310 - Operations Management F,W (3-0) [0.50]
The decision-making role of the operations manager in transforming inputs into desired outputs is the primary focus of this course. The major issues and problems of designing, scheduling, operating, and controlling the production system will be examined.


FARE 3400 - Agribusiness Financial Management F (3-0) [0.50]
The course will focus on the application of principles and tools of finance to managerial problems in agribusiness, food and resource industries. The focus is on evaluating and controlling profitability, growth, risks, and liquidity in agribusiness firms. Key concepts covered in the course include, credit, leverage, capital budgets, and capital costs. These concepts are applied using financial analysis and developed in the context of farming and agribusiness. The course also examines how and from whom farmers and agribusinesses obtain loans.

FARE 4000 - Agricultural and Food Policy W (3-0) [0.50]
A critical analysis of agricultural income, marketing, adjustment and trade problems and policies in the developed countries, with particular emphasis on Canadian agricultural policies.

FARE 4210 - World Agriculture and Economic Development F (3-0) [0.50]
The role of agriculture in economic development. Analyses of economic policies and programs in developing countries and their effect on economic development.

FARE 4220 - Advanced Farm Management W (2-3) [0.50]
A course oriented toward practical application of theory and analytical principles to the identification, analysis and solution of farm business organization/management problems. Students work on a major farm project as management consultants with a farm owner/operator. The course builds upon students' prior training in accounting, finance, mathematical analysis, computer applications, economics, agriculture and farm management.

FARE 4240 - Futures and Options Markets W (3-0) [0.50]
An introduction to the study of the theory and application of futures, options and other derivative instruments for marketing, hedging, investment and speculative purposes. Emphasis is placed on applications of agricultural and financial instruments to real business situations.

FARE 4290 - Land Economics F (3-0) [0.50]
The economics of property rights is applied to issues in the allocation of land among agricultural, urban and other uses: contemporary trends, problems and policies in land planning, including expropriation and regulatory takings, soil erosion policy, farmland protection policy, endangered species policy and landfills and recycling. (Offered in even-numbered years.)

FARE 4310 - Resource Economics W (3-0) [0.50]
This course explores the role of property rights and related institutions in natural resource stewardship. Potential applications of this perspective to natural resource policy, both in Canada and internationally, are considered. Classes use a discussion based approach. The learning objective for the course is the development of critical thinking skills. The readings emphasize original sources. Students are expected to conduct original research on some aspect of the role of property rights and related institutions in the resolution of a current natural resource stewardship problem.

FARE 4360 - Marketing Research W (3-0) [0.50]
A study of the marketing research function in business with emphasis on its role in providing information to assist managers in making marketing decisions.

FARE 4370 - Food & Agri Marketing Management F (3-0) [0.50]
The course focuses on the decision making role of the marketing manager who is responsible for formulating the strategic marketing plan for food and agricultural businesses. The theory of selecting market target(s) for the firm's product and/or services and the development of the marketing mix (product, price, promotion, distribution) with the aid of market research is covered. Note: Students with credit for this course may not proceed to MCS*1000.

FARE 4500 - Decision Science F (3-0) [0.50]
Quantitative techniques such as classical optimization, mathematical programming, simulation and input-output models are applied to firm, interregional, industry, and international problem situations in agricultural economics, including those dealing with resources and the environment. Time and risk and uncertainty dimensions are addressed.

FARE 4550 - Independent Studies I S,F,W (3-0) [0.50]
A project based independent study course for majors in Agricultural Economics (of the Bachelor of Arts or Bachelor of Science in Agriculture degree programs), Agribusiness (of the Bachelor of Commerce degree program), and Environmental Economics and Policy (of the Bachelor of Science in Environmental Sciences degree program).

FARE 4560 - Independent Studies II S,F,W (3-0) [0.50]
An opportunity to conduct a second independent study project for majors in Agricultural Economics (of the Bachelor of Arts or Bachelor of Science in Agriculture degree programs), Agribusiness (of the Bachelor of Commerce degree program), and Environmental Economics and Policy (of the Bachelor of Science in Environmental Sciences degree program).