M.S. Applied Economics

As a student in the applied economics program, you’ll conduct studies that inform decisions and contribute to legislation about agricultural production and processing and rural economies. For example, you may:

• Design, implement and analyze a survey of consumer attitudes on organic potatoes for the potato industry.
• Create a computer model to estimate irrigated water demand for a regional water supplier.
• Evaluate the history of the international trade of soft wood lumber.
• Determine the impact of a recreational activity, such as snowmobiling, on a local economy.

Choose an emphasis in agribusiness, agricultural economics, natural resource economics or community development.

With the guidance of your personally selected faculty adviser and graduate committee, you’ll conduct a unique and independent research project and present your findings. Select between two options:

1. Thesis: Complete two research projects. For each, develop a research methodology, collect data, and interpret and analyze your results. Thoroughly cite sources. Submit a paper and publish your findings in a journal. 
2. Project: Complete one research project. Analyze an issue for a real-life client. Prepare a professional paper of your project and the results. This option is only for those not receiving financial assistance from the department.

Funded research and teaching assistantships are available. Work alongside faculty members whose current research is exploring the following: 

• Seasonal farm workers’ contributions to vegetable production 
• Economics of biofuel production 
• Social and economic impacts of endangered species designation

 

Prepare for Success

Candidates for this program should have:

• An undergraduate degree in agricultural economics, agricultural systems, animal science or a related field.
• An interest in research and creative problem solving.
• A desire to think critically about social and economic issues that affect everyone.

Your First Year

Your first year, you should expect to:

• Complete course work in econometrics, microeconomics, and research methodologies.
• Meet with professors and the department chair to determine the best fit given your research interests.
• Select a professor as your primary research adviser and as the chair of your graduate committee.
• Appoint at least two other professors (one can be from another department, such as economics or plant sciences) to your graduate committee.
• Work with your committee to plan your course work and research goals.
• Select a research topic.

What You Can Do

With this degree, you may become one of the following:

• Analyst: Conduct research studies to inform decision-makers of businesses and commodity organizations. Collect and analyze data on markets, environmental conditions, and management practices. Use computer programs to determine optimal investment, production or marketing plans.
• Financial forecaster: Determine the market values of farms and ranches for a bank or help guide decision making for another financial institution.
• Marketing director: Use market analysis to make decisions for an agricultural company or financial institution.
• Community planning consultant: Help rural areas create jobs and expand their economies.

Opportunities

Agricultural economists work for large and small businesses, agricultural commodity organizations and governmental agencies. Salaries start at approximately $45,000.

You may also choose to continue your education in law or business. Earn a Ph.D. in advanced agricultural economics.

Current Research

Below are examples of independent student research.

Thesis

• Survey and analysis: Design and administer a survey on characteristics of consumer demand and thoughts about the organic potato market.
• In-depth case study: Examine whether a state association accomplished its goal of stabilizing market prices for certain commodities.
• Cost/benefit forecast: Evaluate the economic and other results of possible management decisions such as alternatives to burning bluegrass stubble.

Project

• Case study: Study how agriculture near the Snake River has changed due to the introduction of more dairy cattle.
• Evaluation: Analyze existing financial data to determine the performance of an organization over time.
• Forecast: Make projections based on existing data to determine if canola seed production will meet demand for commercial growers under various scenarios.

Activities

Attend national and regional meetings of professional organizations such as the Agricultural and Applied Economics Association. Present your research findings. Solve a case study problem; submit your approach to a panel of judges. Meet potential employers and graduate students from other universities.

Other activities include:

• Graduate and Professional Student Association: Gain leadership experience and represent your department in student government.
• Annual Student Research Expo: Compete for cash prizes awarded for graduate research presentations.
• College of Graduate Studies Awards: Share in the annual recognition of graduate students engaged in outstanding teaching, research, leadership and mentoring.

Hands-On Experience

Gain hands-on experiences like these:

Research assistantship: Assist professors with research. Collect and analyze survey data, and help write findings. Paid positions are available.

Teaching assistantship: Assist a professor in teaching a course. Work directly with undergraduates. Help grade papers and exams. Give a lecture. Paid positions are available.

International research: Broaden your perspective in countries like these:

• Africa: Study potato market production and evaluate ways to increase production.
• Costa Rica: Gather data on the burning of sugar cane fields.
• Canada: Evaluate the results of lobbying efforts of agricultural organizations.

 

 

Faculty Involvement

Regardless of what emphasis area you choose, you’ll benefit from direct interaction with faculty and instructors who genuinely care about your success.