Probability and statistical inference, linear regression and related dynamic models, specification, estimation, misspecification, respecification, identification. The contribution of economic analysis to public policy formulation is stressed. This course focuses on the role of agriculture in economic development and the effects of alternative trade policies and practices in less developed nations. Topics include agriculture in theories of development, population growth, migration, the economic organization of the peasant-household firm, technological change, institutional change, effects of trade restrictions, exchange rates, trade preferences, regional economic groupings, food aid, trade negotiations, agricultural sector marketing, and project analysis. An advanced analysis of the role of agriculture in the general economy and of the economic, political and social forces which affect the development of agricultural and resource policy.
Emphasis is upon reading and discussing economic policy studies.
Considers the roles of agriculture, resources, human capital, and federal, state and local governments in development processes. Outlines the constraints created by resource scarcity, location and government policy. Quantitative methods in resource development, regional development and impact analysis are introduced. Variable credit course. Presentations and discussions.