AGRICULTURAL ECONOMICS 105 Introduction to Agricultural Economics Spring 2007 Instructor: Dr. Oral Capps, Jr.

Office: 330B Blocker Building Phone: 845-8491 Office Hours: Monday through Thursday, 2:00 p.m. to 4:00 p.m. If you cannot come during these time periods, please make an appointment with my administrative assistant, Amy Moore, in 330 Blocker Building, 845-8491. E-mail: Webpage:

Teaching Assistant: Name: _______________________ Office: _______________________ Phone: _______________________ E-mail: _______________________ Textbook: Introduction to Agricultural Economics, Fourth Edition, Prentice-Hall, 2006 Authors: Penson, Capps, Rosson, Woodward Sections #504 (Agricultural Economics Majors), #505 (Freshmen) and Section #506 (Non-Majors) Room 100, Heldenfels Hall TR - 8:00 am to 9:15 am Grading Procedures: There will be three major exams plus six announced quizzes (AQs). AQs will not be given during weeks when you have a major exam. The AQs are intended to: (1) motivate you to study on a regular basis and (2) give you and your instructor immediate feedback on your progress. The dates of these exams and quizzes are given on the attached class schedule. No makeups will be given for AQs, even for university-excused absences. AQs, however, may be taken earlier than the scheduled times. Makeups will be given for tests, but only for those who have university-excused absences. Regarding what constitutes an excused absence, check the website and select “Part I: Academic Rules” on the left menu and then select rule 7 “Attendance (revised: 2003)” in the list that appears. For those times when you miss an exam, the final exam can be used to allow you to make up the points (see Calculation of Semester Grades for details). We will drop the lowest AQ grade of the six AQs and count your best five. Each AQ is worth 20 points. A missed AQ will give you a grade of zero for that AQ. Only one AQ grade may be dropped.


AGEC 105 - Spring 2007


Calculation of Semester Grades: We will adhere to University grading policy as described in the 2006-2007 Undergraduate Catalog. Your final semester letter grade will be determined as follows: Numerical Average for Semester 90 - 100 80 - 89 70 - 79 60 - 69 below 60 Letter Grade for Semester A B C D F

Because you may accumulate extra credit or bonus points (up to 40, see section on class attendance), NO ACURVING@ OR “ROUNDING UP” OF GRADES WILL OCCUR. Your numerical average for the semester will be a weighted average of: (1) the three major in-class exams and the final exam (if necessary), (2) the AQ total, and (3) the bonus point total. The weights of each of these depend on various scenarios described as follows: Scenario 1: No missed exams Points Weight Exam #1 100 .25 Exam #2 100 .25 Exam #3 100 .25 AQ Total 100 .25 Final Exam 0 0 Total 400 1.00 Scenario 2: One missed exam Points Weight Exam #1 100 .25 Exam #2 0 0 Exam #3 100 .25 AQ Total 100 .25 Final Exam 100 .25 Total 400 1.00 Scenario 3: Two missed exams Points Weight Exam #1 100 .25 Exam #2 0 0 Exam #3 0 0 AQ Total 100 .25 Final Exam 200 .50 Total 400 1.00

Scenario 4: Three missed exams Scenario 5: No missed exam Scenario 6: No missed exam Points Weight but the final exam may replace but the final exam may replace Exam #1 0 0 the lowest exam score the AQ Total Exam #2 0 0 Exam #3 0 0 AQ Total 100 .25 Final Exam 300 .75 Total 400 1.00 Before calculating the AQ total, the lowest AQ score will be dropped. Importantly, if you have not missed any exams, the final exam (which is a comprehensive exam) is not necessary (see scenario 1), but may be taken if desired (see scenarios 5 & 6). If you have missed one, two, or three exams, the final exam is required (see scenarios 2, 3, & 4). If you have missed two exams, the final exam will have double the weight (see scenario 3), and if you have missed three exams (definitely not a wise move), the final exam will have triple the weight of a regular exam (see scenario 4). Additionally, you may accumulate up to 40 extra points because of daily review questions (see class attendance). Therefore: [Exam Points + AQ Points + Bonus Points] x 100% = Numerical Average. 400

AGEC 105 - Spring 2007


Example: Student AG accumulates the following scores: Exam Exam AQ AQ Exam # Score Points AQ # Score Points 1 85 245 1 9 73 2 77 2 12 3 62 3 15 Final Exam 83 4 16 5 13 6 17

Bonus Numerical AG=s Points Average Grade 27 86.25 B

Procedure for Appealing Grades on AQs and Tests: You may appeal a grade received on any AQ or Test. However, the appeal must be made in writing and given only to me. There also must be sufficient documentation to substantiate your claim. If there is no written documentation, no grade change will occur. Textbook: You should acquire a copy of the textbook in this course. We will use and follow the book closely. We will be using the fourth edition of the referenced book, not the first, second, or third editions. Bring the textbook to lecture; it will make taking notes a lot easier. AQs and tests given in the previous year are on my webpage -http:/// Class Attendance: Importantly, we want to do everything we can to encourage you to attend classes because we know from past experience that "being there" is highly correlated with good performance. To motivate you further to come to class, there will be daily review questions (EQs). Answer these correctly and you will receive bonus points, but only if you come to class. You may accumulate up to 40 bonus points (10% of your total grade distribution). Help Sessions: Help sessions will be offered before major exams (see tentative lecture schedule). In addition, help sessions will be scheduled every Thursday evening, beginning January 25, from 7:30 p.m. to 9:00 p.m. in Blocker 153. Please take advantage of these opportunities to interact with me and/or the Teaching Assistant. Students with Disabilities: The Americans with Disabilities Act (ADA) is a federal antidiscrimination statute that provides comprehensive civil rights protection for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please contact the Department of Student Life, Services for Students with Disabilities in Room 126 of the Koldus Building so your professor can best accommodate your needs. The phone number is 845-1637.

AGEC 105 - Spring 2007


Copyrights Statement: Please note that all handouts and supplements used in this course are copyrighted. This copyright statement applies to all materials generated for this class, including but not limited to syllabi, exams, in-class materials, review sheets, and lecture outlines. Materials may be downloaded or photocopied for personal use only, and may not be given or sold to other individuals. Use of Calculators During Examinations: The use of all programmable calculators is prohibited during examinations and quizzes. Unauthorized use of a programmable calculator during an examination or quiz is considered cheating. This action will result in a grade of zero on the AQ, test or final exam and subsequent reporting of the incident to the Aggie Honor System Office. Scholastic Dishonesty Statement: As commonly defined, plagiarism consists of passing off as one’s own ideas, work, writings, etc., which belong to another. In accordance with this definition, you are committing plagiarism if you copy the work of another person and turn it in as your own, even if you should have the permission of that person. Plagiarism is one of the worst academic sins, for the plagiarist destroys the trust among colleagues without which research cannot be safety communicated. If you have questions regarding plagiarism, please consult the latest issue of the Texas A&M University Student Rules, under the section, “Scholastic Dishonesty.” The Course: Welcome to the field of agricultural economics! Whether you choose to major in agricultural economics or another field, your professional and personal lives will be influenced by the topics covered in this course. The course is divided into several parts: (1) agricultural economics and the food and fiber sector; (2) understanding consumer behavior; (3) business behavior and market equilibrium; (4) natural resources; (5) government in the food and fiber industry; (6) macroeconomics of agriculture, and (7) international trade. Because of time limitations, we probably will not be able to cover international trade in a systematic fashion. We wish to introduce the field of agricultural economics as a "science" of human behavior. Also, we wish to develop an understanding of, and the ability to apply, the economic principles that agricultural economists use to understand and predict individual and aggregate economic behavior and the impact of such behavior upon the well-being of society. In short, we plan to provide you a framework to think for yourself, at least in conjunction with issues indigenous to economics.

AGEC 105 - Spring 2007


Cheating: Cheating is not tolerated! If you are caught in the act, you will automatically receive a zero on the work in question. Yours truly then will proceed in completing the Honor Code violation Report form and report you, through the Department of Agricultural Economics Undergraduate Office, to the Honor Council. For many years Aggies have followed a Code of Honor, which is stated in this very simple statement: An Aggie does not lie, cheat or steal or tolerate those who do. The Aggie Code of Honor is an effort to unify the aims of all Texas A&M men and women toward a high code of ethics and personal dignity. For most, living under this code will be no problem, as it asks nothing of a person that is beyond reason. It only calls for honesty and integrity, characteristics that Aggies have always exemplified. The Aggie Code of Honor functions as a symbol to all Aggies, promoting understanding and loyalty to truth and confidence in each other. Upon accepting admission to Texas A&M University, a student immediately assumes a commitment to uphold the Honor Code, the accept responsibility for learning and to follow the philosophy and rules of the Honor System. Students will be required to state their commitment on examinations, research papers, and other academic work. Ignorance of the rules does not exclude any member of the Texas A&M University community from the requirements or the processes of the Honor System. For additional information, please visit: On all course work, assignments, and examinations at Texas A&M University, the following Honor Pledge shall be preprinted and signed by the student: “On my honor, as an Aggie, I have neither given nor received unauthorized aid on this academic work.”

_____________________________________________ Student’s Signature

______________________________ Date

_____________________________________________ Student’s Printed Name

______________________________ UIN

AGEC 105 - Spring 2007


Tentative Lecture Schedule

AGEC 105 Lecture# 1 2 3 4 5 6 7 8 9 Date Test / AQ 1/16 1/18 1/23 1/25 AQ 1 1/30 2/1 2/6 AQ 2 2/8 2/13 2/13 (7:30-9 pm, Room 153 Blocker) 2/14 (7:30-9 pm, Room 153 Blocker) 2/15 Test 1 2/20 2/22 2/27 3/1 AQ 3 3/6 3/8 3/12 to 3/16 (Spring Break) No Class 3/20 3/22 AQ 4 3/27 3/27 (7:30-9 pm, Room 153 Blocker) 3/28 (7:30-9 pm, Room 153 Blocker) 3/29 Test 2 4/2 Last Day to Q Drop 4/3 4/5 4/10 AQ 5 4/12 Topic Introduction; Chapter 1 Chapters 1, 2 Chapter 2 Chapter 3 Chapters 3,4 Chapter 4 Chapter 4 Chapter 5 Chapter 5 Help Session for Test 1 Help Session for Test 1 Chapters 1,2,3,4,5 Chapter 6 Chapter 6 Chapters 6,8 Chapter 8 Chapters 8,9 Chapter 9 Chapter 9 Chapter 10 Chapter 10 Help Session for Test 2 Help Session for Test 2 Chapters 6,8,9,10 Chapter 11 Chapter 11 Chapter 12 Chapters 12 6

10 11 12 13 14 15 16 17 18 19

20 21 22 23 24

AGEC 105 - Spring 2007

Lecture# Date 25 26 27

Test / AQ

Topic Chapter 13 Chapters 13,16 Chapter 16 Help Session for Test 3 Help Session for Test 3 Chapters 11,12,13,16 No class Reading Day - No Class

28 29 30

4/17 4/19 AQ 6 4/24 4/24 (7:30-9 pm, Room 153 Blocker) 4/25 (7:30-9 pm, Room 153 Blocker) 4/26 Test 3 5/1 Redefined Day - Friday Pick up Test 3 exam scores from my office. 5/2

5/7 FINAL EXAM, 1:00PM - 3:00PM ROOM 100 HELDENFELS HALL Help sessions will be scheduled every Thursday evening from 7:30 pm to 9:00 pm in Blocker 153, beginning January 25. Please take advantage of the opportunity!



Note: Between April 30 and May 4, students should resolve any questions about previously acquired grades. Existing grades as of May 4 will be used in calculating the final average. After May 4, we will only be able to accommodate changes relating to the final exam or to the overall calculation

AGEC 105 - Spring 2007


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