AGRICULTURAL ECONOMICS 105

Introduction to Agricultural Economics

Spring 2007

Instructor: Dr. Oral Capps, Jr.

Office: 330B Blocker Building
Phone: 845-8491
Office Hours: Monday through Thursday, 2:00 p.m. to 4:00 p.m.
If you cannot come during these time periods, please make an appointment
with my administrative assistant, Amy Moore, in 330 Blocker Building,
845-8491.
E-mail: ocapps@tamu.edu
Webpage: http://agecon.tamu.edu/people/faculty/capps-oral.shtml

Teaching Assistant:
Name: _______________________
Office: _______________________
Phone: _______________________
E-mail: _______________________

Textbook: Introduction to Agricultural Economics, Fourth Edition, Prentice-Hall, 2006

Authors: Penson, Capps, Rosson, Woodward

Lectures: Sections #504 (Agricultural Economics Majors), #505 (Freshmen) and

Section #506 (Non-Majors)

Room 100, Heldenfels Hall

TR - 8:00 am to 9:15 am

Grading Procedures: There will be three major exams plus six announced quizzes
(AQs). AQs will not be given during weeks when you have a major exam. The
AQs are intended to: (1) motivate you to study on a regular basis and (2) give you
and your instructor immediate feedback on your progress. The dates of these
exams and quizzes are given on the attached class schedule. No makeups will be
given for AQs, even for university-excused absences. AQs, however, may be taken
earlier than the scheduled times. Makeups will be given for tests, but only for
those who have university-excused absences. Regarding what constitutes an
excused absence, check the website http://student-rules.tamu.edu/ and select “Part I:
Academic Rules” on the left menu and then select rule 7 “Attendance (revised:
2003)” in the list that appears. For those times when you miss an exam, the final
exam can be used to allow you to make up the points (see Calculation of Semester
Grades for details). We will drop the lowest AQ grade of the six AQs and count
your best five. Each AQ is worth 20 points. A missed AQ will give you a grade of
zero for that AQ. Only one AQ grade may be dropped.

AGEC 105 - Spring 2007 1

 Calculation of Semester Grades: We will adhere to University grading policy as
described in the 2006-2007 Undergraduate Catalog. Your final semester letter
grade will be determined as follows:

Numerical Average for Semester Letter Grade for Semester

90 - 100 A
80 - 89 B
70 - 79 C
60 - 69 D
below 60 F

Because you may accumulate extra credit or bonus points (up to 40, see section on class
attendance), NO ACURVING@ OR “ROUNDING UP” OF GRADES WILL OCCUR.

Your numerical average for the semester will be a weighted average of: (1) the three
major in-class exams and the final exam (if necessary), (2) the AQ total, and (3) the bonus point
total. The weights of each of these depend on various scenarios described as follows:

Scenario 1: No missed exams Scenario 2: One missed exam Scenario 3: Two missed exams
Points Weight Points Weight Points Weight
Exam #1 100 .25 Exam #1 100 .25 Exam #1 100 .25
Exam #2 100 .25 Exam #2 0 0 Exam #2 0 0
Exam #3 100 .25 Exam #3 100 .25 Exam #3 0 0
AQ Total 100 .25 AQ Total 100 .25 AQ Total 100 .25
Final Exam 0 0 Final Exam 100 .25 Final Exam 200 .50
Total 400 1.00 Total 400 1.00 Total 400 1.00

Scenario 4: Three missed exams Scenario 5: No missed exam Scenario 6: No missed exam
Points Weight but the final exam may replace but the final exam may replace
Exam #1 0 0 the lowest exam score the AQ Total
Exam #2 0 0
Exam #3 0 0
AQ Total 100 .25
Final Exam 300 .75
Total 400 1.00
Before calculating the AQ total, the lowest AQ score will be dropped. Importantly, if
you have not missed any exams, the final exam (which is a comprehensive exam) is not
necessary (see scenario 1), but may be taken if desired (see scenarios 5 & 6). If you have missed
one, two, or three exams, the final exam is required (see scenarios 2, 3, & 4). If you have missed
two exams, the final exam will have double the weight (see scenario 3), and if you have missed
three exams (definitely not a wise move), the final exam will have triple the weight of a regular
exam (see scenario 4). Additionally, you may accumulate up to 40 extra points because of daily
review questions (see class attendance).

Therefore: [Exam Points + AQ Points + Bonus Points] x 100% = Numerical Average.

400

AGEC 105 - Spring 2007 2

 Example: Student AG accumulates the following scores:
Exam Exam AQ AQ Bonus Numerical AG=s
Exam # Score Points AQ # Score Points Points Average Grade
1 85 245 1 9 73 27 86.25 B
2 77 2 12
3 62 3 15
Final Exam 83 4 16
5 13
6 17

Procedure for Appealing Grades on AQs and Tests: You may appeal a grade received on any
AQ or Test. However, the appeal must be made in writing and given only to me. There also
must be sufficient documentation to substantiate your claim. If there is no written
documentation, no grade change will occur.

Textbook: You should acquire a copy of the textbook in this course. We will use and follow
the book closely. We will be using the fourth edition of the referenced book, not the first,
second, or third editions. Bring the textbook to lecture; it will make taking notes a lot easier.
AQs and tests given in the previous year are on my webpage --
http:///agecon.tamu.edu/faculty/capps.

Class Attendance: Importantly, we want to do everything we can to encourage you to attend

classes because we know from past experience that "being there" is highly correlated with good
performance. To motivate you further to come to class, there will be daily review questions
(EQs). Answer these correctly and you will receive bonus points, but only if you come to class.
You may accumulate up to 40 bonus points (10% of your total grade distribution).

Help Sessions: Help sessions will be offered before major exams (see tentative lecture
schedule). In addition, help sessions will be scheduled every Thursday evening, beginning
January 25, from 7:30 p.m. to 9:00 p.m. in Blocker 153. Please take advantage of these
opportunities to interact with me and/or the Teaching Assistant.

Students with Disabilities: The Americans with Disabilities Act (ADA) is a federal anti-
discrimination statute that provides comprehensive civil rights protection for persons with
disabilities. Among other things, this legislation requires that all students with disabilities be
guaranteed a learning environment that provides for reasonable accommodation of their
disabilities. If you believe you have a disability requiring an accommodation, please contact the
Department of Student Life, Services for Students with Disabilities in Room 126 of the Koldus
Building so your professor can best accommodate your needs. The phone number is 845-1637.

AGEC 105 - Spring 2007 3

Copyrights Statement: Please note that all handouts and supplements used in this course are
copyrighted. This copyright statement applies to all materials generated for this class, including
but not limited to syllabi, exams, in-class materials, review sheets, and lecture outlines.
Materials may be downloaded or photocopied for personal use only, and may not be given or
sold to other individuals.

Use of Calculators During Examinations: The use of all programmable calculators is

prohibited during examinations and quizzes. Unauthorized use of a programmable calculator
during an examination or quiz is considered cheating. This action will result in a grade of zero
on the AQ, test or final exam and subsequent reporting of the incident to the Aggie Honor
System Office.

Scholastic Dishonesty Statement: As commonly defined, plagiarism consists of passing off as

one’s own ideas, work, writings, etc., which belong to another. In accordance with this
definition, you are committing plagiarism if you copy the work of another person and turn it in
as your own, even if you should have the permission of that person. Plagiarism is one of the
worst academic sins, for the plagiarist destroys the trust among colleagues without which
research cannot be safety communicated. If you have questions regarding plagiarism, please
consult the latest issue of the Texas A&M University Student Rules, under the section,
“Scholastic Dishonesty.”

The Course: Welcome to the field of agricultural economics! Whether you choose to major
in agricultural economics or another field, your professional and personal lives will be
influenced by the topics covered in this course.

The course is divided into several parts: (1) agricultural economics and the food and fiber
sector; (2) understanding consumer behavior; (3) business behavior and market equilibrium; (4)
natural resources; (5) government in the food and fiber industry; (6) macroeconomics of
agriculture, and (7) international trade. Because of time limitations, we probably will not be able
to cover international trade in a systematic fashion. We wish to introduce the field of agricultural
economics as a "science" of human behavior.

Also, we wish to develop an understanding of, and the ability to apply, the economic principles
that agricultural economists use to understand and predict individual and aggregate economic
behavior and the impact of such behavior upon the well-being of society. In short, we plan to
provide you a framework to think for yourself, at least in conjunction with issues indigenous to
economics.

AGEC 105 - Spring 2007 4

Cheating: Cheating is not tolerated! If you are caught in the act, you will automatically
receive a zero on the work in question. Yours truly then will proceed in completing the Honor
Code violation Report form and report you, through the Department of Agricultural Economics
Undergraduate Office, to the Honor Council.

For many years Aggies have followed a Code of Honor, which is stated in this very simple
statement:

An Aggie does not lie, cheat or steal

or tolerate those who do.

The Aggie Code of Honor is an effort to unify the aims of all Texas A&M men and women
toward a high code of ethics and personal dignity. For most, living under this code will be no
problem, as it asks nothing of a person that is beyond reason. It only calls for honesty and
integrity, characteristics that Aggies have always exemplified. The Aggie Code of Honor
functions as a symbol to all Aggies, promoting understanding and loyalty to truth and confidence
in each other.

Upon accepting admission to Texas A&M University, a student immediately assumes a

commitment to uphold the Honor Code, the accept responsibility for learning and to follow the
philosophy and rules of the Honor System. Students will be required to state their commitment
on examinations, research papers, and other academic work. Ignorance of the rules does not
exclude any member of the Texas A&M University community from the requirements or the
processes of the Honor System. For additional information, please visit:
www.tamu.edu/aggiehonor.

On all course work, assignments, and examinations at Texas A&M University, the following
Honor Pledge shall be preprinted and signed by the student:

“On my honor, as an Aggie, I have neither given nor received

unauthorized aid on this academic work.”

_____________________________________________ ______________________________
Student’s Signature Date

_____________________________________________ ______________________________
Student’s Printed Name UIN

AGEC 105 - Spring 2007 5

 Tentative Lecture Schedule

AGEC 105

Lecture# Date Test / AQ Topic

1 1/16 Introduction; Chapter 1
2 1/18 Chapters 1, 2
3 1/23 Chapter 2
4 1/25 AQ 1 Chapter 3
5 1/30 Chapters 3,4
6 2/1 Chapter 4
7 2/6 AQ 2 Chapter 4
8 2/8 Chapter 5
9 2/13 Chapter 5
2/13 (7:30-9 pm, Room 153 Blocker) Help Session for Test 1
2/14 (7:30-9 pm, Room 153 Blocker) Help Session for Test 1
10 2/15 Test 1 Chapters 1,2,3,4,5
11 2/20 Chapter 6
12 2/22 Chapter 6
13 2/27 Chapters 6,8
14 3/1 AQ 3 Chapter 8
15 3/6 Chapters 8,9
16 3/8 Chapter 9
3/12 to 3/16 (Spring Break) No Class
17 3/20 Chapter 9
18 3/22 AQ 4 Chapter 10
19 3/27 Chapter 10
3/27 (7:30-9 pm, Room 153 Blocker) Help Session for Test 2
3/28 (7:30-9 pm, Room 153 Blocker) Help Session for Test 2
20 3/29 Test 2 Chapters 6,8,9,10
4/2 Last Day to Q Drop
21 4/3 Chapter 11
22 4/5 Chapter 11
23 4/10 AQ 5 Chapter 12
24 4/12 Chapters 12

AGEC 105 - Spring 2007 6

Lecture# Date Test / AQ Topic

25 4/17 Chapter 13
26 4/19 AQ 6 Chapters 13,16
27 4/24 Chapter 16
4/24 (7:30-9 pm, Room 153 Blocker) Help Session for Test 3
4/25 (7:30-9 pm, Room 153 Blocker) Help Session for Test 3
28 4/26 Test 3 Chapters 11,12,13,16
29 5/1 Redefined Day - Friday No class
Pick up Test 3 exam scores from my office.
30 5/2 Reading Day - No Class

5/7 FINAL EXAM, 1:00PM - 3:00PM ROOM 100 HELDENFELS HALL

Help sessions will be scheduled every Thursday evening from 7:30 pm to 9:00 pm in Blocker
153, beginning January 25. Please take advantage of the opportunity!

IMPORTANT Note: Between April 30 and May 4,

students should resolve any questions
about previously acquired grades.

1 Existing grades as of May 4 will be

used in calculating the final average.
After May 4, we will only be able to
accommodate changes relating to the
final exam or to the overall calculation

AGEC 105 - Spring 2007 7