Agricultural and Consumer Economics
Department Office: 332 Mumford Hall, 1301 West Gregory Drive, Urbana, (217) 333-1810
Students pursuing degrees in the Department of Agricultural and Consumer Economics may choose one of 9 concentrations. The concentrations are:
- Agri-Accounting
- Agribusiness Markets and Management
- Finance in Agribusiness
- Consumer Economics and Finance
- Environmental Economics and Policy
- Farm Management
- Financial Planning
- Policy, International Trade and Development
- Public Policy and Law
Minor in International Development Economics
Prescribed Courses Including Campus General Education
| Hours | Composition I and Speech |
|---|---|
| Choose either | |
| 4 | RHET 105 - Principles of Composition or equivalent (see College Composition I requirement) AND |
| 3 | CMN 101- Public Speaking |
| Hours | Advanced Composition *** |
|---|---|
| 3 | One of: |
BTW 250 - Principles of Bus Comm |
|
BTW 261 - Principles of Technical Comm |
|
BTW 263 - Writing in the Disciplines |
|
RHET 233 - Principles of Composition |
|
RHET 243 – Inter Expository Writing |
|
CMN 220 - Communicating Public Policy |
| Foreign Language | |
|---|---|
| Coursework at or above the third level is required for graduation. |
| Hours | Quantitative Reasoning I |
|---|---|
| 3 | MATH 124 - Finite Mathematics or MATH 125-Linear Algebra or MATH 231-Calculus II |
| 4-5 | MATH 234 - Calculus for Business I or MATH 220 - Calculus or MATH 221 - Calculus I |
| Hours | Quantitative Reasoning II |
|---|---|
| 4-6 | ACE 261 - Applied Statistical Methods or ECON 202 - Economics Statistics I and ECON 203 - Economics Statistics II** |
| Hours | Humanities and the Arts |
|---|---|
| 6 | Selected from campus approved list. |
| Hours | Natural Sciences and Technology |
|---|---|
| 6 | Selected from campus approved list. |
| Hours | Social and Behavioral Sciences |
|---|---|
| 6 | Selected from campus approved list. |
| Hours | Cultural Studies |
|---|---|
| 6 | Select one course from Western culture and one from non-Western/U.S. minority culture from campus approved list. |
| Hours | ACES Prescribed |
|---|---|
| 2 | ACES 101 - Contemporary Issues in ACES (for freshmen only) |
| Hours | Department Requirements |
|---|---|
| 35 | Minimum Hours in the College of ACES of which 20, excluding ACE 161 and ACE 261, must be in the Department of ACE |
| 6 | Minimum of two 400-level courses in ACE |
| 4 | ACE 100 - Agr Cons and Resource Econ* |
| 3 | ACCY 201 - Accounting & Accountancy I |
| 3 | ECON 103 - Macroeconomic Principles |
| 3 | ECON 302 - Intermediate Microeconomic Theory*** |
| 3 | One of: |
ACE 161 - Microcomputer Applications |
|
CS 105 - Introduction to Computing, Non-Tech |
|
| 3 | At least 12 hours of credit for study abroad or one international course selected from: |
ACE 435 - Global Agribusiness Management |
|
ACE 436 - Intl Business Immersion |
|
ACE 451 - Agriculture in Intl Dev |
|
ACE 452 - The Latin American Economies |
|
ACE 453 - Econ Dev in S and SE Asia |
|
ACE 454 - Econ Dev of Tropical Africa |
|
ACE 455 - Intl Trade in Food and Agr |
|
ECON 422 - The European Economics |
|
ECON 451 - Transition Economics |
|
| 126 | Total Hours required for graduation |
*Requirement must be satisfied by end of first year.
**Students pursuing Agricultural Accounting or Agricultural Finance must select ECON 202 and 203.
***Students are encouraged to complete this requirement prior to the seventh semester.
Agri-Accounting Concentration
Students in Agri-Accounting complete a comprehensive program that
enables them to apply accounting principles in production, processing,
or retailing sectors in agribusiness industries. Graduates find professional
opportunities as consultants and managerial accountants.
| Hours | Required for the Agri-Accounting Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACCY 202 - Accounting and Accountancy II |
| 4 | ACCY 301 - Acctg Measurement & Disclosure |
| 4 | ACCY 302 - Decision Making for Acctg |
| 4 | ACCY 303 - Acctg Institutions and Regulations |
| 3 | ACE 360 - Spreadsheet Models & Applications |
| 3 | ACE 444 - Financial Services & Investment Planning |
| 3 | ACE 447 - Case Studies in Agricultural Accounting and Financial Planning |
| 3 | FIN 221 - Corporate Finance |
Agribusiness Markets and Management Concentration
Students in Agribusiness Markets and Management obtain management skills; strategy development and implementation; and an awareness of the interaction among agricultural technology, supply, distribution, processing, and marketing firms in the business environment. Graduates are prepared for entry-level management, sales and marketing, and technical analyst positions, and are sought by firms involved in the production, marketing, sales, and financing of farm inputs, agricultural commodities, and food and other retail products.
| Hours | Required for the Agribusiness, Markets and Management Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 222-Agricultural Marketing |
| 3 | ACE 231 - Food and Agribusiness Mgt |
| 3 | ACCY 202 - Accounting and Accountancy II |
| 9 | Three courses selected from: |
|
ACE 427-Commodity Price Analysis ACE 428-Commodity Futures and Concentrations ACE 430-Food Marketing ACE 431-Agri-Food Strategic Management ACE 435-Global Agribusiness Management |
Finance in Agribusiness Concentration
Students in Finance in Agribusiness study finance as used in agribusiness, farming, financial institutions, and more broadly, in the financial services industry. In addition to positions as loan officers in banks and other lending institutions, recent graduates are working in trust and other banking operations, investments and securities firms, rural appraisals, financial management, financial planning, insurance, real estate, and related fields.
| Hours | Required for the Finance in Agribusiness Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 345 - Financial Decision-Making for Individuals and Small Businesses |
| 3 | ACE 360 - Spreadsheet Models & Applications |
| 3 | ACE 444 - Financial Services for Ind & Small Business |
| 3 | ACE 446 - Modeling Applications for Fin Planning |
| 3 | ACCY 202 - Accounting and Accountancy II |
| 3 | FIN 221 - Corporate Finance |
| 6 | Two courses selected from: |
ACE 428 - Commodity Futures and Options |
|
ACE 447 - Case Studies in Agricultural Accounting and Financial Planning |
|
| ACE 449 - Retirement and Benefit Planning | |
FIN 300 - Financial Markets1 |
1. Registration may be restricted by the department offering the course; access cannot be assured.
Consumer Economics and Finance Concentration
Students in Consumer Economics and Finance develop knowledge and skills
to help consumers with everyday problems. Coursework in consumer economics,
personal finance, and economics gives students a broad-based background
and an understanding of the role of consumers in the marketplace.
Students can choose an emphasis in consumer economics, family economics,
or financial planning and counseling, which leads to career opportunities
with government and public agencies, marketing and sales firms, and
financial institutions.
| Hours | Required for the Consumer Economics and Finance Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 240 - Personal Financial Planning |
| 3 | ACE 270 - Consumer Economics |
| 3 | ACE 474 - Econ of Consumption |
| 3 | ACE 476 - Family Economics |
| 6 | Two courses selected from: |
ACE 445 - Intermediate Personal Financial Planning |
|
ECON 440 - Econ of Labor Markets |
|
FIN 221 - Corporate Finance |
Environmental Economics and Policy
Students in Environmental Economics and Policy study environmental
and resource management issues at the local, state, national, and
international levels. Graduates are prepared for positions in governmental,
environmental, and resource management agencies; interest groups;
and the environmental area of private firms. Course concentrations
include law, policy, management, administration, quantitative methods,
and sociology, as well as economics.
| Hours | Required for the Environmental and Natural Resource Management Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 210 - Environmental Economics |
| 3 | ACE 310 - Natural Resource Economics |
| 3 | ACE 406 - Environmental Law |
| 3 | ACE 411 - Environment and Development |
Farm Management Concentration
Students in Farm Management study the principles of economics, finance,
risk and the decision-making process - all central to the successful
management of a farm enterprise. Students develop skills to combine
and manage land, labor, and capital resources for a competitive return.
Also, students may learn how to appraise farmland and other assets.
Farm (and other asset) appraisal is a growing part of professional
farm management and can be pursued as a profession in itself.
| Hours | Required for the Farm Management Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 222 - Agricultural Marketing |
| 3-4 | ACE 232 - Management of Farm Enterprises |
| 3 | ACE 345 - Financial Decision-Making for Individuals and Small Businesses |
| 3 | ACE 360 - Spreadsheet Models & Applications |
| 3 | ACE 432 - Farm Management |
| 3 | ACE 444 - Financial Services & Investment Planning |
| 3 | ACE 448 Rural Real Estate Appraisal |
Financial Planning Concentration
Students in the Financial Planning concentration study finance and economics as they apply to individuals, households, and small businesses in the course of accumulating and using financial resource. Students are introduced to issues of credit management, insurance and other risk management strategies, saving and investing, retirement planning, and estate planning. Students also study the financial marketplace as it relates to the needs of households and small businesses.
Hours |
Required for the Financial Planning Concentration in Addition to Department Requirements |
|---|---|
| 3 | FIN 230 Intro. to Insurance |
| 3 | ACE 240 - Personal Financial Planning |
| 3 | ACE 345 - Finan. Decision-Making for Individ. & Small Bus. |
| 3 | ACE 346 -Tax Policy & Financial Planning |
| 3 | ACE 440 - Fin Plng for Professionals |
3 |
ACE 444 - Financial Services for Individuals & Small Bus. |
| 3 | ACE 449 - Retire. & Benefit Plan. |
| 6 | Two courses selected from: |
|
ACE 445 - Intermed. Personal Fin. Planning ACE 446 - Modeling Applications for Financial Planning ACE 447 - Case Stud. in Agricultural Accounting and Financial Planning ACE 476 - Family Economics |
Policy, International Trade and Development Concentration
Students in Policy, International Trade, and Development enjoy a broad
exposure to policy, international trade, and agricultural development
from an economics perspective. The concentration provides a global
and societal perspective ideally suited for exploring studies in administration,
government, policy analysis, social processes, and international economics.
Graduates are prepared for positions in firms with international business;
in federal or state government agencies dealing with policy, trade,
or development; in trade organizations; and in public interest groups.
| Hours | Required for the Policy, International Trade and Development Concentration in Addition to Department Requirements |
|---|---|
| 3 | ACE 251 - The World Food Economy |
| 3 | ACE 411 - Environment and Development or ACE 451 - Agriculture in Intl Dev |
| 3 | ACE 455 - Intl Trade in Food and Agr |
| 3 | ACE 456 - Agr and Food Policies |
| 3 | One course selected from: |
ACE 453 - Econ Dev in S and SE Asia |
|
ACE 454 - Econ Dev of Tropical Africa |
|
ECON 351 - Economic Development in Japan |
|
ECON 356 - The Economy of China |
|
ECON 422 - The European Economies |
|
ECON 452 - The Latin American Economies |
Public Policy and Law Concentration
Students in Public Policy and Law become expert in the economics of public policy in general and in its application to specific areas of interest. This concentration will expose students to the legal and institutional structures in which policies are developed, the analysis of the economics impacts of policies, and special circumstances of public policy and law pertaining to the environment, consumers, the agricultural sector, international relations, and other.
Hours |
Required for the Public Policy and Law Concentration in Addition to Department Requirements |
|---|---|
| 3 | PS 220 - Intro to Public Policy |
| 3 | ECON 411 - Public Sector Economics |
| 3 | One course selected from: |
|
ACE 210 - Environmental Economics ACE 251 - The World Food Economy ACE 255 - Econ of Rural Poverty and Dev ACE 270 - Consumer Economics |
| 3 | One course selected from: |
|
ACE 403 - Agricultural Law ACE 406 - Environmental Law ECON 484 - Law and Economics |
| 9 | Three courses selected from: |
|
ACE 306 - Food Law |
Minor in International Development Economics
Hours |
Required for the Minor in International Development Economics |
|---|---|
| 4 | ACE 100 - Agricultural, Consumer and Resource Economics* |
| 3 | ACE 251 - The World Food Economy |
| 3 | At least 3 hours from among: |
|
ACE 222 - Agricultural Marketing |
| 6 | At least 6 hours from among:** |
|
ACE 411 - Environment and Development |
| 12 | At least 12 hours taken from the preceding two categories |
* Econ 102 (3 hrs) Microeconomic Principles is accepted in lieu of ACE 100. ** Some of these courses have additional non-ACE prerequisites. A semester-long study abroad experience in an emerging market or developing economy (i.e., countries not part of the OECD) will be accepted in lieu of one of these courses. |
|