Topics include the underlying supply, demand, and institutional factors impacting health-care availability and cost. F Economic analysis of agricultural production involving the concept of the farm as a firm, principles for decision making, the quantitative nature and use of production and cost functions and their interrelations and application of these principles to resource allocation in farms and among areas. Introduction to the economic theory, organization, and operating principles of agricultural commodity futures markets in the U.S. Emphasis is placed on speculating, hedging, and investing in agricultural commodity futures contracts from the standpoint of the agribusiness entrepreneur. Development of rural economic activity in the context of historical, theoretical, and policy aspects of friction associated with spatial separation. Location factors, transfer costs, location patterns, and regional-growth policy are considered.
Topics covered include highest and best use analysis, data collection, and analyses.
Advanced appraisal procedures for income, cost and comparable sales approach to real estate valuation will be stressed. Eminent domain, the appraisal of property in transition, and specialized property will be covered. The role of international institutions is considered. A major part of the course will be a case study in which a detailed analysis of a farm, agribusiness or environmental situation will be made with students making formal written and oral presentations of results. Topics include a review of laws, agencies, programs, court structure, torts, taxation, biotechnology, land and water use, regulated industry and environmental liabilities as they relate to agricuture and natural resources.