Texas Tech University Agricultural & Applied Economics
TTU Home Agricultural & Applied Economics Mission Statement

Department of Agricultural and Applied Economics

 

Our Mission

Agricultural and applied economics applies economic methods to the use of natural resources as it pertains to the production, distribution, and consumption of agricultural goods and services. Applied economists are concerned with decision-making and public policy in relation to:

  1. the production of food and fiber,

  2. providing production input materials, services, and credit, and

  3. the processing, marketing, and distribution of natural resource products to consumers.

The major objective of the Department of Agricultural and Applied Economics is to teach students to think analytically and to use economic principles in making decisions. Students develop skills in economic theory and analysis, physical sciences, mathematics, statistics, and communication. Training in public economic policy, price analysis, agricultural marketing, and rural property appraisal enhances program variety. The department prepares graduates to manage business firms, including financial firms, farms, ranches, agribusinesses, and related organizations and to direct land and property development and real estate activities.

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What is Agricultrual Economics?

Agricultural and Applied Economics is an applied field of economics, concerned with (1) the production, distribution, and consumption of food and fiber goods and services, and (2) public and private use of natural resources. Applied Economists are decision-makers, not just in agricultural and agribusiness firms, but also in businesses that supply inputs, credit, services, and process and distribute products to final consumers.

One goal of the Department of Agricultural and Applied Economics at Texas Tech University is to teach students to think independently and to learn to apply economic concepts effectively in their decisions. Undergraduates study economics, other sciences, business management, accounting, mathematics, technical writing, public speaking, and statistics.

The department's teaching objective is to educate students so they might excel in:

Management of agribusiness and other entrepreneurial firms, including farms and ranches, and related organizations.

Providing financial services to agriculture and agribusiness in lending, investing and financial management.

Directing real estate activities, appraisal, sales management, land and property development.

Advanced studies in Agricultural and Applied Economics, Law, Business, Disciplinary Economics or related areas.

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Who Employs Agricultural/Applied Economists?

Local, regional and national processing and marketing firms offer many Applied Economics graduates their first positions. These firms may be corporations, producer-owned cooperatives or smaller, independently-owned businesses. Other graduates become self-employed operators or managers in charge of specialized activities such as production, financing or marketing in large firms or for professional management organizations and real estate agencies also employ applied economists.

Government agencies such as the U.S. Department of Commerce, the U.S. Department of Agriculture, state cooperative extension services, and various state agencies hire many graduates.

An increasing number of our graduates continue their education to obtain advanced degrees in Agricultural/Applied Economics, Economics, Business Administration, or Law. Programs leading to Master of Science and Doctor of Philosophy degrees are offered in the department to qualify graduates for teaching and research positions in colleges and universities, and for research and administrative positions in government agencies and business firms.

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Who Teaches Agricultural/Applied Economics?

A highly trained, experienced faculty teaches courses, advises and counsels students, and conducts research on current economic problems. Courses are continually updated and students obtain experience in working with problems related to their field of study. Faculty research in agricultural finance, land, water and wildlife management, farm production and management, cotton, grain, livestock and vegetable marketing, provides up-to-date, dynamic examples for classroom demonstration and part-time employment for outstanding undergraduates. Each student works closely with a professor to plan a course program of interest in line with the student's ability and career aspirations. The department also has an active internship program through which students gain experience in many types of businesses and organizations and in state and national government offices.

 

updated August 6, 2012