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Ferguson College of Agriculture

Our Program

The Master of Science program in Agricultural Economics develops professional competence in applied economics, quantitative analysis, and decision-making related to agriculture, food systems, natural resources, agribusiness, and rural development. The program prepares students for careers in agribusiness firms, commodity markets, banking and finance, government agencies, policy analysis, consulting, Extension, and applied research. Students receive training in economic theory, applied econometrics, marketing, finance, risk management, and policy analysis while working closely with faculty engaged in research, teaching, and Extension activities consistent with Oklahoma State University’s land-grant mission. The program also provides preparation for advanced graduate study in agricultural economics and related fields.

Advanced study leading to the master of science degree in the field of agricultural economics prepares students for such professional careers as:

  1. Commodity outlook analyst/trader
  2. Management specialist in business firms
  3. Loan analyst or bank officer
  4. Government planner
  5. Economic analyst or research coordinator in various branches of local, state, and federal governments
  6. Market analyst
  7. Strategic planner
  8. International marketing manager
  9. Business forecasting specialist
  10. Research analyst or extension specialist at land-grant universities and agricultural colleges

Find important information for the agricultural economics graduate program below:

The Master of Science program in Agricultural Economics develops professional competence in applied economics, quantitative analysis, and decision-making related to agriculture, food systems, natural resources, agribusiness, and rural development. The program prepares students for careers in agribusiness firms, commodity markets, banking and finance, government agencies, policy analysis, consulting, Extension, and applied research. Students receive training in economic theory, applied econometrics, marketing, finance, risk management, and policy analysis while working closely with faculty engaged in research, teaching, and Extension activities consistent with Oklahoma State University’s land-grant mission. The program also provides preparation for advanced graduate study in agricultural economics and related fields.

  • Degree Requirements Include
    1. Admission to the program. (Apply online at Oklahoma State Graduate Application)
    2. Successfully completing the courses included in an approved plan of study. (The electronic plan of study is available online at Grad Student Resources) The plan of study for a master’s candidate must be filed prior to the completion of the 17th graduate credit hour of enrollment.
    3. Conducting the research necessary to prepare a M.S. thesis, formal report, or informal report (creative component).
    4. Passing a final oral examination in defense of the thesis, creative component, or formal report.
    5. Preparing a draft of at least one publication based on the thesis research.
    6. A diploma application should be submitted online for the semester in which the student intends to complete degree requirements. A diploma application is at Grad Student Resources.
  • Core Courses
    • AGEC 5101 Research Methodology (spring)
    • AGEC 5103 Mathematical Economics (fall)
    • AGEC 5403 Production Economics (spring)
      6 hours from:
    • STAT 5543 Applied Regression Analysis (fall)
    • AGEC 5213 Econometric Methods (spring)
    • AGEC 5113 Applications of Mathematical Programming (fall)

    Total: 13 hours

    The core requirements for MS degree candidates assure breadth and competence in key areas of knowledge and professional activity. The above courses constitute the core of the general M.S. program.

    Two alternatives exist for satisfying requirements for the MS degree: (1) 30 credit hours, including six credit hours for a thesis; (2) 32 credit hours, including two credit hours for a formal report. Students holding an assistantship are required to write a thesis.

    The primary opportunities for differentiation and specialization for an MS degree student on an assistantship are developing a research project and choosing electives. Students who do not write a thesis will have more elective hours and can specialize through their course selection.

    The candidate’s ability to understand the concepts and to use the tools of the agricultural economist is more important than mastery of factual details. Students must take a final oral examination. This examination tests the student’s understanding of economic principles and methods, as well as their application to real-world situations.

    A total of 21 credit hours must be from graduate courses that are not cross-listed as undergraduate courses. All courses must be at the 5000 and 6000 levels. Electives in such fields as economics, statistics, accounting, finance, marketing, management, plant and soil science, animal science, horticulture, operations research, mathematics, sociology, and philosophy may be selected to complete the student’s program, illustrating the flexibility of MS degree programs in agricultural economics. Some suggested elective courses for MS degree programs are listed below. However, the student should select courses that best fit his or her goals in consultation with his or her advisory committee.

    Four-digit numbers identify all courses. The first digit indicates the class year in which the subject is ordinarily taken, although enrollment is not exclusive as to student classification; the second and third digits identify the course within the field; and the last digit indicates the number of semester credit hours the course carries.

  • Electives

    Students typically take 11 elective hours. Typical electives are listed below. Other electives not listed below may be used to fulfill the requirement.

    • AGEC 5203 Advanced Agricultural Prices (spring, odd yrs)
    • AGEC 5423 Agribusiness Management
    • AGEC 5233 Primary Data Analysis in Economic Research (fall, odd yrs)
    • AGEC 5043 Advanced Farm and Ranch Management (spring)
    • AGEC 5033 Commodity Futures Markets (spring, fall)
    • AGEC 5073 Rural Economics Development (spring)
    • AGEC 5053  Environmental Economics and Resource Development (fall)
    • AGEC 5023 Quantitative Supply Chain Management in Agribusiness (spring)
    • AGEC 5990 Advanced Ag. Finance (spring, odd)
    • AGEC 5303 Agricultural Market Policy & Organization (fall, even yrs)
    • AGEC 5403 Production Economics (spring)
    • AGEC 5603 Advanced Agricultural Finance (spring)
    • AGEC 5723 Planning & Policy for Development (fall)
    • ACCT 5113 Financial Accounting Research
    • AGIN 5723 Participation Systems Modeling
    • AGIN 5313 Global Food Security & Sustainability
    • ECON 5033 Macroeconomic Analysis
    • ECON 5173 Energy Economics
    • ECON 5603 Global Economics
    • FIN 5223 Investment Theory & Strategy
    • FIN 5763 Derivative Securities & the Management of Financial Price Risk
    • IEM 5023 Optimization Applications
  • Example M.S. Plan of Study (thesis option)

    Plans of study are customized to meet the needs of the student. The student prepares the plan with input from the student's advisor and advisory committee. All members of the advisory committee and the department head must sign the plan. A typical M.S. plan of study includes eight three-hour courses, a one-hour research methodology course, and six hours for the thesis research. The following sketch of courses is provided as an example:

    Fall (year one)

    • AGEC 5103  Mathematical Economics (prerequisites: Differential Calculus & Intermediate Microeconomics)
    • STAT 5543  Applied Regression Analysis (prerequisite: undergraduate statistics)
      Plus 1 elective:
    • AGEC 5423  Agribusiness Management
    • AGEC 5303  Agricultural Market Policy & Organization
    • AGEC 5723  Planning & Policy for Development

    Spring (year one):

    • AGEC 5213  Econometric Methods (prerequisites: STAT 5543 or ECON 4213)
    • AGEC 5101  Research Methodology
    • AGEC 5403  Production Economics
      Plus 1 elective:
    • AGEC 5990 Advanced Ag. Finance
    • AGEC 5203 Advanced Agricultural Prices (prerequisites: AGEC 5103; STAT 5543) (odd years)
    • AGEC 5603 Advanced Agricultural Finance
    • AGEC 5713 Rural Regional Analysis (prerequisite: AGEC 5103)
    • AGEC 6222 Spatial Econometrics (even years)

    Summer (year one):

    AGEC 5000 Thesis or Report in Agricultural Economics

    Fall (year two):

    Two electives:

    • AGEC 5113 Applications of Mathematical Programming
    • AGEC 5233 Primary Data Analysis in Economic Research (fall, odd years)
    • AGEC 5303 Agricultural Market Policy & Organization (fall, odd years)
    • AGEC 5423 Agribusiness Management
    • AGEC 5723 Planning & Policy for Development
    • AGEC 5203 Advanced Agricultural Prices (prerequisites: AGEC 5103; STAT 5543) (odd years)

    Spring (year two):

    AGEC 5000  Thesis or Report in Agricultural Economics

  • Agribusiness Concentration

    The agribusiness specialization is designed to develop analytical skills and the capacity to address a broad range of agribusiness-oriented problems and decision-making situations. The agribusiness specialization is noted on the student’s transcript.

    • AGEC 5113 Applications of Mathematical Programming
    • AGEC 5203 Advanced Agricultural Prices (fall, odd years)
    • AGEC 5233 Primary Data Analysis in Economic Research (fall, odd years)
    • AGEC 5603 Advanced Agricultural Finance
    • AGEC 5423 Advanced Agribusiness Management
    • FIN 5053 Theory and Practice of Financial Management
    • FIN 5223 Investment Theory & Strategy
    • MGMT 5113 Management & Organizational Theory
    • MKTG 5133 Marketing Management
    • MKTG 5553 International Marketing Strategy
    • MKTG 5613 Seminar in Consumer Behavior
    • MSIS 5313 Production Operations Management
    • LSB 5163 Legal Environment of Business
  • International Agricultural Development Concentration

    The international agricultural development emphasis is designed to prepare students for positions as (1) agricultural program advisors in international development organizations, (2) rural project and area administrators in foreign governments, (3) technical personnel in national and regional planning agencies for agricultural development, and (4) foreign agricultural experts in private corporations.

    • AGEC 5723 Planning & Policy for Development
    • AGIN 5723 Participations Systems Modeling
    • AGIN 5313 Global Food Security & Sustainability
    • ACCT 5113 Financial Accounting Research
    • EEE 5223 Entrepreneurial Marketing
    • ECON 5033 Macroeconomic Analysis
    • ECON 5173 Energy Economics
    • ECON 5603 Global Economics
    • ECON 6623 Economic Development I
    • FIN 5053 Theory & Practice of Financial Management
    • FIN 5763 Derivative Securities & Management of Financial Price Risk
    • IEM 5203 Facility Location, Warehousing & Transportation
    • LSB 5163 Legal Environment of Business
  • Preparation for Ph.D. in Ag Econ

    Students preparing for a Ph.D. program may select electives from the following.

    • ECON 5033 Macroeconomic Analysis
    • AGEC 5203 Advanced Agricultural Prices (fall, odd yrs)
    • AGEC 5303 Advanced Market Policy & Organization
  • M.S. Thesis or Report

    Students who plan to write a thesis or report are encouraged to obtain a copy of the Thesis and Dissertation Guidelines, published by and available from the Graduate College (available at gradcollege.okstate.edu/ resources/student-resources.html). A thesis or report must conform to the format specifications outlined in these guidelines. The document’s style should be determined by the Academic Advisory Committee and reflect publications in the student’s discipline. The style of a creative component need not conform to the guidelines’ format.

    Since a report must conform to the same format and other requirements as specified by the Graduate College, and since the report option requires 2 additional hours, its use is not encouraged.

    Students must meet with their graduate committee before the third full semester of courses begins to have their thesis topic approved. After completing the research, the student prepares a final, legible draft of the proposed thesis or report and submits a copy to each member of the examining committee. Theses and reports must be signed by the advisor and be submitted to the Graduate College no later than the stated deadline date (available at gradcollege.okstate.edu/resources/student-resources.html).

    If the thesis or report option is used, the student arranges for the final examination after the draft copy of the thesis or report has been filed at the Graduate College and/or distributed as described in the preceding section. A draft of a publication from the thesis or report must be submitted to your major professor before the final draft is signed.

  • Creative Component

    A creative component is a scholarly product that does not qualify as a research thesis or report. Examples of creative components are software, experiment station bulletins, extension publications, and journal articles. The creative component is an alternative to writing an M.S. thesis or report. This M.S. degree requirement is designed to enable the student to demonstrate a level of maturity beyond that of successfully taking courses and examinations. The student should exhibit such qualities as creativity and good judgment, as well as independence, clarity, depth, and breadth of thought. This alternative permits students to demonstrate their mastery of theory and skills in an applied fashion through the process of creating original work. Each creative component must be presented and defended by the student before his or her graduate committee. A one-page summary of the report, along with a form obtained from the program specialist, 417A Ag Hall, should be submitted to the program specialist to be kept in the student file.

  • Final Examination

    All MS students are required to complete a final examination. The final examination is primarily a defense of the thesis, creative component, or report. If the defense is deemed inadequate, the Academic Advisory Committee will decide whether to permit re-examination. Examinations are open to all members of the graduate faculty and may be attended by anyone who obtains the committee’s permission. The student is responsible for arranging with the Academic Program Coordinator to announce the defense at least two weeks in advance to faculty and graduate students in AGEC and other appropriate departments in the University. (Typically, these will include some or all of the departments in the Division of Agricultural Sciences and Natural Resources.)

    The committee will notify the Graduate College immediately of the final examination results. Following satisfactory completion of the final examination, the candidate will make any required changes to the thesis, report, or creative component as determined by the committee and the Graduate College.

  • Accelerated MS Program (4 + 1 Sequence)

    Graduate College Admission and Academic Policies:

    The Department of Agricultural Economics (AGEC) Master of Science (MS) degree program can be completed in combination with the Bachelor of Science (B.S.) in the Ferguson College of Agriculture. The B.S. with a major in Agricultural Economics (AGEC) or Agribusiness (AGBU) requires 120 credit hours. The MS in Agricultural Economics non-thesis option requires 33 credit hours, and the thesis option requires 30 hours. The B.S. and MS degrees may share up to 9 college credit hours. To do so, students must be admitted to the graduate program before the start of the term in which they take the shared courses.

    1. Eligible Students
      1. Students must be enrolled in the AGEC or AGBU undergraduate degree program.
      2. Students must complete 90 credit hours or more toward their B.S. degree by the end of the term of application.
      3. Students must have completed ECON 3113, a calculus course, and a statistics course by the end of the term of application.
      4. A minimum of a B in ECON 3023 or 3113, a minimum of a B in a calculus course, and a minimum of a B in all AG ECON undergraduate courses.
    2. Program Admission Procedures
      1. Students should apply in the semester they will complete 90 credit hours toward their B.S. degree.
      2. Students should submit their official transcripts showing a minimum GPA of 3.0 for coursework completed at OSU, and their official GRE scores.
      3. Once admitted to the MS AGEC program, students will continue to meet with their undergraduate advisors to enroll in dual-credit courses before completing the undergraduate degree.
      4. Up to 9 graduate credit hours applicable toward the B.S. AGEC or AGBU degree and the MS AGEC degree can be taken at the graduate level over the course of one’s senior year.
    3. Coursework Taken After Admission into the accelerated MS AGEC Program
      1. After admission, a student may enroll concurrently in graduate-level coursework applicable to the MS AGEC degree.
      2. A student will remain an undergraduate student and not be fully admitted into the Graduate College until completion of the undergraduate degree.
      3. The dual enrollment form must be completed. It is available at Registrar Forms
    4. Classification Prior to Regular Admission to Graduate College
      1. A student enrolled in AGEC graduate courses will be classified as an undergraduate student until he or she is fully admitted to the OSU Graduate College and shall retain the same rights and privileges granted
      2. All OSU undergraduate students, regardless of classification as an undergraduate student for purposes of receiving financial aid.
      3. Students must receive advance approval from AGEC advisement to dually apply up to 9 hours of graduate-level coursework toward requirements for the undergraduate degree.

    * There will be two matriculations. The primary matriculation will be undergraduate, and the secondary matriculation will be graduate until a student has earned enough hours for the B.S. degree.

    Admission to Graduate College:

    A student enrolled in MS AGEC courses will be fully admitted to the Graduate College upon completion of the undergraduate degree, provided a grade of B or better is obtained in the graduate coursework.

    1. Classification on Admission to Graduate College.
      1. After completion of the undergraduate degree, a previously admitted accelerated AGEC student will be classified as a graduate student and will be granted all rights and privileges normally granted to
      2. OSU graduate students.
      3. Conversely, it is a student’s responsibility to satisfy all Graduate College and MS AGEC program requirements. A student will not qualify for classification as an undergraduate for any purpose after regular admission to the Graduate College.
    2. Awarding of Degrees
      1. The B.S. degree must be awarded prior to matriculation into the full-time MS AGEC program, regardless of prior enrollment in the Accelerated MS AGEC program. The MS AGEC degree will be awarded upon completion of all curricular program requirements.
    3. Non-Performance
      1. Admission to the graduate college requires successful completion of graduate-level coursework with a grade of B or better.

    *Undergraduate credit hours in excess of B.S. degree requirements are subject to the Graduate College policy for tuition purposes.

    Typical MS 4+1 Gateway

    Fall (Senior Year)

    • STAT 5543 (Applied Regression)
    • AGEC 5103 (Mathematical Economics) or a 4000/5000 AGEC course

    Spring (Senior Year)

    • AGEC 5213 (Econometrics)
    • AGEC 5101 (Research Methodology)

    In extenuating circumstances, students may take other courses with approval from their faculty advisor and the graduate coordinator.