AEM 6080 - Production Economics

Fall. 3 credits. Letter grades only (no audit).

Prerequisite: ECON 3030, MATH 1110 or equivalents.

L.W. Tauer.

Studies the theory of production economics with emphasis on applications to agriculture and natural resources. Topics include the derivation, estimation, and use of production, cost, profit, revenue, demand, and supply functions. Discusses the concepts of efficiency and productivity. Introduces production response over time and under risk.