Agricultural economics is the study of applying economic management principles to food farming, fibre and bio-fuel production. The result, ideally, is an agriculture industry that better understands efficiency, sustenance and market demand. The field of agricultural economics looks at all elements of food production and applies rational thought and planning as a whole. From crops and livestock to land usage and soil content, all aspects of farm life are examined, including how the connections between these aspects can be strengthened. Many times, this involves learning about the latest technology to help crops or livestock, but it also might require a knowledge of what has and has not worked in the past.
First year students planning a major or specialisation in agricultural economics will complete two junior prerequisite units of study (12 credit points) in that discipline. Second year students are introduced to market and price analysis and production economics. Third year students complete further study in agricultural economics in the areas of agricultural and resource policy, agribusiness management and applied optimisation. More specialised study is undertaken in fourth year at a senior level in agricultural economics.
Graduates are eligible for membership of the Australian Agricultural and Resource Economics Society, the Economics Society of Australia, the Australian and New Zealand Society of Ecological Economics and other international professional associations, including the American Agricultural Economics Association.
Our graduates express high levels of satisfaction related to their chosen career paths. They enjoy strong starting salaries with opportunities to advance rapidly. Many graduates in agricultural economics are employed in the finance sector including risk management, commercial and merchant banking, and accounting, while others are involved in agribusiness, marketing and commodity trading, policy making and economic research.
Related subject areas
Agribusiness, agricultural finance, agricultural marketing