Agricultural Business

 

Academic Program Chair:

Dr. Mark W. Murphey

murphey@latech.edu

(318) 257-2457

Agricultural Business: Business Concentration 

Program Highlights

Louisiana agriculture contributes billions to the state’s economy annually.  In addition to understanding the on the ground fundamentals of managing operations that involve livestock, poultry, horses, swine, greenhouses and plant nurseries, and agricultural row crops, for example, one must understand how to make their business flourish in order to provide a steady income.  Understanding areas of agricultural business like international trade, investments, and market fluctuations are essential to make a business economically relevant.  Here at Louisiana Tech, students majoring in Agricultural Business with a concentration in Business gain specific knowledge and experience in areas such as agricultural marketing, policy, and finance, natural resource economics, and farm and agribusiness management.

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Students in the Agricultural Business program learn about the importance of economics and marketing when producing crops like tomatoes in a greenhouse. 

 

Graduates of the Program

Graduates with a degree in Agricultural Business with a concentration in Business have many options for a career path.  As mentioned previously, all agricultural companies, to make profits and become successful, must have a workable business plan that is secure and efficient.  So, no matter the commodity, people trained in areas of agricultural business are essential.  The following are just a few examples of positions that may be options for graduates of the program: banking/lending, sales (chemicals, agricultural equipment and technology, real estate), landscape contracting, accounting, agricultural crop consulting, USDA program specialist, agricultural producer, college professor, and lawyer.

The degree program also lays an excellent foundation for students who choose to further their education in graduate school.  Pursuing a Master’s degree in areas such as Agricultural Economics, Marketing, and Policy, Business Administration (available at Louisiana Tech),and post-graduate work in law school are just a few of the options students may choose to pursue after earning their Bachelor’s degree in Agricultural Business with a concentration in Business.

Curriculum Information

A Business Administration minor is built in to the concentration from the College of Business.  In addition to the agricultural business courses mentioned above, for the minor, students must take courses in computer information systems, finance, marketing, accounting, management, and business law in the College of Business.  Fourteen hours of directed electives offers some flexibility to earn a second minor or at least gain more exposure in areas of plant science and animal science. 

Most Agricultural Business courses are offered annually while others vary depending on student interest and faculty availability. The following is a partial list of Agricultural Business and Business Administration course offerings from the Louisiana Tech University catalog that are required for the degree.

AGBU 220-Principles of Agricultural Economics: Economic theory with application to production, marketing, and financing in agribusiness. Institutions such as cooperatives, farm credit systems, foreign agricultural trade, and government will be emphasized.

AGBU 230-Principles and Practices of Agricultural Marketing: Methods and channels of agricultural marketing; marketing principles, governmental action concerned with the marketing process; analysis and evaluation of marketing problems.

AGBU 310-Agricultural Policy: The impact of agricultural policy on the farm firm and agribusiness industry. Emphasis is placed on policy issues affecting producers and consumers of agricultural products.

AGBU 402-Farm and Agribusiness Management: Economic principles, budgeting, organization, and management techniques as applied to a farm, ranch, or agricultural business.

AGBU 450-Natural Resource Economics:Tools for economic decision making applied to the use and allocation of natural resources associated with agriculture. Costs and benefits of various approaches to natural resource management.

AGBU 460-Agricultural Finance: Analysis of financial investments in the agricultural firm, credit sources, debt repayment, capital allocation, and the use of short, intermediate, and long-term credit.

ACCT 202-Principles of Managerial Accounting: Basic understanding of managerial accounting concepts and the significance of accounting information for managerial decision-making.

CIS 310: Principles of Information Systems-Introduction to concepts and principles of information system resources, analysis, development, management, and applications.

FINC 318-Business Finance: An introduction to the principles of financial management including the role of financial manager, problems of liquidity vs. profitability, budgeting of capital expenditures, management of short-term and long-term funds, and management of assets.

MGMT 310-Management of Organizations: Introduction to fundamental principles of management practice with a particular emphasis on developing an understanding of human behavior in organizations.

MKTG 300-Marketing Principles and Policies: Marketing functions; institutions; policies and strategies with their business, economic, and social implications.

BLAW 255-Legal Environment of Business: Studies relations and effect of law on business, society, and the individual, including ethical considerations, history, court system, torts, government relations, contracts, and business organization.