AREC 487 - Managing Market Risk in Resource Industries

★ 3 (fi 6)(EITHER, 3-0-0)

Study of the mechanics and economic functions of commodity futures and options derivative markets. Topics include the theory and practice of hedging, price formation and issues unique to commodities. Emphasis on concepts and analysis to evaluate derivative markets; use of derivatives to manage market risk in agribusiness, forestry and other resource businesses. Prerequisite: AREC 200, AREC 365, ECON 281, or FIN 301.

AREC 582 - Industrial Organization in Food and Resource Industries

★ 3 (fi 6)(EITHER, 3-0-0)

Analysis of firm behavior and market structure in agri-food and resource sectors using industrial organization principles. Introduction to the internal organization of firms with applications to incentives, contracts, and corporate finance. Other topics involve ownership forms such as co-operatives; impacts of market structure on selection of firm structure; and the importance of firm objectives, performance and management incentives. Prerequisite: consent of instructor, ECON 481 recommended.

AREC 687 - Managing Market Risk in Resource Industries

★ 3 (fi 6)(EITHER, 3-0-0)

Study of the mechanics and economic functions of commodity futures and options derivative markets. Topics include the theory and practice of hedging, price formation and issues unique to commodities. Emphasis on concepts and analysis to evaluate derivative markets; use of derivatives to manage market risk in agribusiness, forestry and other resource businesses. Not to be taken if credit received for AREC 487. Prerequisite: consent of instructor.

AREC 488 - Introduction to Agricultural and Resource Game Theory

★ 3 (fi 6)(EITHER, 3-0-0)

Game theory analyzes situations in which payoffs to agents depend on the behavior of other agents. Basics of game theoretic analysis are introduced. Applications to the agri-food and resource industries are discussed. Prerequisite: AREC 200, AREC 365, or ECON 281.

AREC 688 - Introduction to Agricultural and Resource Game Theory

★ 3 (fi 6)(EITHER, 3-0-0)

Game theory analyzes situations in which payoffs to agents depend on the behavior of other agents. Basics of game theoretic analysis are introduced. Applications to the agri-food and resource industries are discussed. Not to be taken if credit received for AREC 488. Prerequisite: consent of instructor.