Degree: B.S.

Undergraduate Program Director: Maurice P. Hartley (hartley@aesop.rutgers.edu)

The environmental and business economics program provides students with a foundation in the principles of economics, a knowledge of practical economic and analytical problem-solving techniques, an ability to apply economic concepts to the analysis of public and private policy issues, and an understanding of the institutional factors underlying and influencing policy decisions. The program qualifies students for a broad spectrum of positions in business and government, or for continued study at the graduate level.

To encourage students to develop depth in their understanding of the applications of economics, the curriculum offers the following three options:

Business Economics. This option emphasizes the application of economics to business management, marketing, and finance issues related to food and agriculture. It familiarizes students both with analytical and decision-making techniques used in the business world, and with the public and private institutional framework within which businesses operate. It is appropriate for students interested in employment in business or who are interested in graduate studies in business management or economics.

Environmental and Resource Economics. This option emphasizes the application of economics to policy issues associated with environmental problems and the utilization of natural resources. It familiarizes students both with analytical and decision-making techniques used in assessing problems of the environment and natural resources, and with the institutional framework within which environmental policy must be developed. It is appropriate for students interested in employment either by private organizations concerned with environmental policies or by government agencies responsible for policies relating to the environment and natural resources and for students interested in graduate study in environmental or natural resource economics.

Food Industry Economics. This option emphasizes the application of economics in the areas of food policy, marketing, and finance. It is appropriate for students interested in employment in the food industry or by federal or state departments of agriculture and for students interested in graduate study in agricultural economics.

Graduation Requirements for the Major

Although students may declare the major before completing these four courses, official admission to the major requires completion of introductory courses in micro- and macroeconomics, a term of calculus, and a term of statistics, with grades of C or better. These four courses are prerequisites to junior- and senior-level courses in the required option areas.

Majors must complete all required courses with grades of C or better. No more than one D is allowed in the option elective courses.

Please see the Programs of Study Summary on page 272 for information regarding changes in degree requirements.

I. Interdisciplinary/Ethical Analysis (5 credits)

  11:015:101  Perspectives on Agriculture and the Environment (2)

  11:015:400  Junior/Senior Colloquium (3)

II. Introductory Life and Physical Sciences (7 credits)

A. Life Sciences (4 credits)

  01:119:103  Principles of Biology (4) or equivalent

B. Physical Sciences (3 credits)

See suggested courses in the Degree Requirements chapter.

III. The Arts (6 credits)

See suggested courses in the Degree Requirements chapter.

IV. Human Diversity (6 credits)

See suggested courses in the Degree Requirements chapter.

V. Economic and Political Systems

A. Economic Systems (3-6 credits)

Specific courses that fulfill the economic systems requirement are listed under VIII A, Competence in Environmental and Business Economics.

B. Political Systems (3 credits)

See suggested courses in the Degree Requirements chapter.

VI. Oral and Written Communication (9 credits)

  01:355:101  Expository Writing (3) or equivalent

  01:355:202  Technical Writing Essentials (3) or 01: 355:203 Business Writing Essentials (3) or 01:355:303 Writing for Business and the Professions (3) or 01:355:302 Scientific and Technical Writing (3)

and one of the following:

  04:192:220  Fundamentals of Speaking and Listening (3)

  01:355:201  Research in the Disciplines (3) (See majors` Handbook or adviser for suggested topics.)

VII. Experience-Based Education (3-4 credits)

Each student consults with the academic adviser in planning to meet this requirement. Appropriate cooperative education placements, approved internships, 11:373:402 International Agribusiness Marketing (3), 11:373:465 Agribusiness Marketing Research (4), 11:373: 491,492 Research Problems, or equivalents fulfill this requirement.

VIII. Competence in Environmental and Business Economics (61-63 credits)

A. REQUIRED COURSES (25)

Majors must complete all VIII A requirements with a grade of C or better.

Quantitative Skills (10)

  33:010:272  Introduction to Financial Accounting (3)

  01:640:1__   CALC1 (4)

  01:960:285  Introductory Statistics for Business (3) or 01: 960:211 Statistics I (3)

Computer Competence

See VIII B, Options requirements.

Professional Ethics

See VIII B, Options requirements.

Other Required Courses (15)

   01:220:103  Introduction to Macroeconomics (3)

  11:373:121  Principles and Applications of Microeconomics (3) or 01:220:102 Introduction to Microeconomics (3)

  11:373:241  Agribusiness Management (3)

  11:373:321  Economics of Production (3)

  11:373:422  Demand and Price Analysis (3)

B. OPTIONS (36-38)

Majors must complete all option required courses with a grade of C or better. No more than one grade of D is allowed in the remaining option elective courses.

1. Business Economics (36-38)

Required courses (15-16)

  11:373:210  Business Decision Computer Tools (4) or 01: 198:170 Computer Applications for Business (3)

  11:373:231  Agribusiness Marketing I (3)

  11:373:341  Management: Human Systems Development (3)

  11:373:351  Agribusiness Finance I (3)

  01:730:251  Ethics in Business (3) or equivalent

Electives (21)

At least three of the following business/economics courses:

  01:220:300  International Economics (3)

  01:220:301  Money and Banking (3)

  01:220:302  Labor Economics (3)

  01:220:308  Introduction to Managerial Economics (3)

  01:220:311  Methods of Cost Benefit Analysis (3)

  01:220:394  Economics of Capital Markets (3)

  01:220:415  Portfolio Theory (3)

  11:373:331  Economics of Food Marketing Systems (3)

  11:373:352  Economics of Futures Markets (3)

  11:373:402  International Agribusiness Marketing (3)*

  11:373:425  Application of Econometrics in Agricultural Economics (3)

  11:373:451  Agribusiness Finance II (3)

  11:373:465  Agribusiness Marketing Research (4)

At least two of the following policy courses:

  11:373:323  Public Policy toward the Food Industry (3)

  11:373:361  Land Economics (3)

  11:373:362  Natural Resource Economics (3)

  11:373:363  Environmental Economics (3)

  11:373:371  Food Health and Safety Policy (3)

  11:374:313  Environmental Policy and Institutions (3)

  11:374:314  Human Dimensions of Natural Resource

Management (3)

  11:374:315  International Environmental Policy (3)

  01:790:237  Political Economy and Society (3)

  01:790:305  Public Policy Formation (3)

  01:790:327  International Political Economy (3)

  01:790:337  American Political Economy (3)

  01:790:338  Government and Business (3)        

At least two additional courses in environmental and business economics (373) or economics (220).

2. Environmental and Resource Economics (36-37)

Required courses (15-16)

  11:373:210  Business Decision Computer Tools (4) or 01: 198:170 Computer Applications for Business (3)

  11:373:361  Land Economics (3)

  11:373:362  Natural Resource Economics (3)

  11:373:363  Environmental Economics (3) or 01:220: 332 Environmental Economics (3)

  01:730:251  Ethics in Business (3) or equivalent

Electives (21)

At least three of the following courses in problem solving or policy analysis:

  01:220:311  Methods of Cost Benefit Analysis (3)

  01:220:386  Operations Research I (3)

  01:220:395  Law and Economics (3)

  11:372:232  Fundamentals of Environmental Geomatics (3)

  11:373:351  Agribusiness Finance I (3)

  11:373:425  Application of Econometrics in Agricultural Economics (3)

  11:375:333  Environmental Law I (3)

  11:375:409  Environmental Statement and Impact (3)

  01:790:305  Public Policy Formation (3)

  01:960:337  Managerial Statistics (3)

At least one of the following courses in policy applications:

  11:372:444  Watershed Management: An Interdisciplinary Perspective (3)

  11:373:231  Agribusiness Marketing I (3)

  11:374:315  International Environmental Policy (3)

  11:375:301  The Environment and Health (3)

  11:375:410  Workshop in Environmental Assessment and Impact (3)

  11:375:421  Air Pollution (3)

  01:450:140  The Greenhouse Effect (3)

  01:450:370  Global and Regional Climate Change (3)

  11:628:401  Science in Shoreline Management (3)

  11:704:310  Forest and Wildlife Conservation (3)

  11:704:451  Ecosystems Ecology and Global Change (3)

At least one of the following interdisciplinary courses:

  11:372:231  Fundamentals of Environmental Planning (3)

  11:372:384  A Systems Approach to Environmental and

Agricultural Issues (3)

  11:375:333,334  Environmental Law I,II (3,3)

  01:512:323,324  History of the North American

Environment (3,3)

  11:704:351  Principles of Applied Ecology (3)

  10:975:315  Theory and Methods of Land-Use Planning (3)

Two additional courses in environmental and business economics (373), economics (220), or the Rutgers School of Business: Undergraduate-New Brunswick.

3. Food Industry Economics (36-38)

Required courses (15-16)

11:373:210  Business Decision Computer Tools (4) or 01: 198:170 Computer Applications for Business (3)

  11:373:231  Agribusiness Marketing I (3)

  11:373:331  Economics of Food Marketing Systems (3)

  11:373:341  Management: Human Systems Development (3)

  01:730:251  Ethics and Business (3) or equivalent

Electives (21)

Four of the following courses, of which at least three must come from group A:

A. Courses in business strategy/policy

  11:373:323  Public Policy toward the Food Industry (3)

  11:373:351  Agribusiness Finance I (3)

  11:373:352  Economics of Futures Markets (3)

  11:373:371  Food Health and Safety Policy (3)

  11:373:402  International Agribusiness Marketing (3)*

  11:373:425  Application of Econometrics in Agricultural Economics (3)

  11:373:451  Agribusiness Finance II (3)

  11:373:465  Agribusiness Marketing Research (4)*

B. Courses in environmental/resource economics

  11:373:361  Land Economics (3)

  11:373:362  Natural Resource Economics (3)

  11:373:363  Environmental Economics (3)        

At least 3 credits of courses in one of the following areas: animal science (067), soils (in environmental sciences 375), food science (400), nutritional sciences (709), or plant science (776).          

At least two additional courses in environmental and business economics (373), or economics (220).

IX. Unspecified Electives (26-28 credits)

* Note: Students fulfilling VII. Experience-Based Education with this course must select an additional course from this list.