Agricultural and Applied Economics

The Agricultural and Applied Economics program provides an excellent opportunity for merging interests in agriculture, business, finance, pre-veterinary studies, community development, international trade, and the environment. Economics focuses on decision-making and trade-offs. It provides a foundation for a way of thinking about the challenges and choices that face individual consumers, businesses, and policy makers.

The Agricultural and Applied Economics Undergraduate Major at Virginia Tech

The Virginia Tech Department of Agricultural and Applied Economics program educates students to evaluate economic choices in the production, distribution, and consumption of agricultural food products and services; the management of farm and agribusiness firms; the management of personal finances; the resolution of natural resource and environmental problems; and the development of rural communities. Six options of study are offered:

Agribusiness Management - Learn principles of marketing, management, and finance to prepare for a career in agribusiness or in related industries.

Financial Planning - Prepare to help people achieve their life and financial goals.

Veterinary Business Management - Acquire the scientific coursework necessary to apply to vet school, while also taking business-oriented classes to assist in running a veterinary practice.

Environmental Economics, Management, and Policy - Learn to apply economic principles for effective protection of natural resources and the environment.

Community Economic Development - Prepare to work with local, state, and federal governments on job creation, labor markets, rural poverty, land-use management, and other development issues.

International Trade and Development - Gain an understanding of global development, trade, and policy issues through courses, internships, and study-abroad experiences.

Academic Preparation

All admission offers for this program of study are made through the University's Admissions Office. To be a competitive candidate for freshman admission, prospective students should follow the guidelines listed on the Admissions homepage. In order to be a competitive candidate, students seeking to transfer after one year of college work should have a 3.0 grade point average and successfully complete transferable course work in English, mathematics, and appropriate lab sciences. Students planning to transfer under the Guaranteed Admissions Articulation Agreement between Virginia community colleges and the College should follow the academic guidelines noted under College of Agriculture and Life Sciences on the Admissions Articulation Agreements webpage.

Career Opportunities

Employment opportunities are excellent in this area. Students are prepared to enter graduate school in many fields including agricultural economics, veterinary medicine, business, law and economics. Typical job areas are as follows:

  • Entrepreneurship and Small Business Management - Be your own boss. Working in family enterprises and managing small businesses are the focus of opportunities in this area.
  • Agribusiness Management - You may work in sales, management, marketing, appraisal, research, or public relations for businesses that produce, buy, sell, process, and distribute agricultural and related products.
  • Personal Financial Planning - Work with individuals and families in making decisions about cash and debt management, insurance planning, investment planning, retirement planning, education planning, income management, and estate planning.
  • Public Service - Public service careers are available at the federal, state, and local levels. Federal careers are in such areas as agricultural production, marketing, finance, conservation, and others. State and local agencies offer a wide variety of careers.
  • Veterinary Management - The pre-vet option allows students to take the scientific classes necessary to enter veterinary medicine while acquiring the skills necessary to manage a veterinary practice upon completion of the veterinary medicine program.
  • Finance and Appraisal - You would have the opportunity to make loans, evaluate investment opportunities, and appraise property. Students work for lending institutions such as commercial and farm banks or private appraisal firms.
  • Farm Business Management - You would manage farm operations, work for integrated agricultural firms, or own and manage your own farm.
  • Environmental and Resource Economics and Management - Private and public sector opportunities exist to manage resources and/or develop environmental policy.
  • Market and Price Analysis - You may market commodities, provide investment and/or market analysis and research, or work for a brokerage house.
  • International Agriculture and Development - Job opportunities in international agriculture have multiplied in recent years, mostly because of the growth of multinational firms and the efforts of businesses, foundations, and national governments to assist developing countries. You might be employed in development, finance, production, natural resource management or marketing careers in countries throughout the world.

Beyond the Classroom

  • Internships are available to develop and hone students’ skills and experiences while making important career connections in agribusiness, financial planning, government, economic development, resource management, or other fields.
  • Study abroad opportunities will introduce you to new people, cultures, and languages. Gain a deeper understanding of the international economy by learning first-hand how businesses and other economic institutions operate in other countries.
  • Work-study opportunities give qualified students a chance to earn income while gaining valuable professional experience, working closely with faculty and staff members on research, extension, and education projects.
  • Field trips provide opportunities to learn first-hand how businesses operate and how local governments and other institutions solve problems and create opportunities.
  • Scholarships assist outstanding students in meeting educational expenses.
  • Dynamic student organizations such as the AgEcon/NAMA Club help you achieve your professional, educational, and social goals through interaction and cooperation with fellow students, faculty and staff members, alumni, and business professionals.
  • The National Agri-marketing Association team provides an opportunity to develop a real-world marketing plan and present that plan in national competition. The skills gained while developing the marketing plan and the networks created while participating with the professional chapters are outstanding resources when entering the job market.
  • Social and professional events offer opportunities for you to interact with faculty and staff members and enhance your personal and professional development.

Facilities

The Department is located on the second and third floors of Hutcheson Hall. Many in-major courses are taught in Hutcheson, and a study room/club room for undergraduates is also located there. The study room provides students a place to meet for class group projects and a quiet place to work on homework between classes. It is conveniently located near the office of the undergraduate coordinator.

Overview of Course Work

After completing the first year theory courses in microeconomics and macroeconomics, agricultural economics coursework tends to be very applied and hands-on. Many courses include class projects that use real-world data or provide students with opportunities to consult with operating businesses. Other courses provide opportunities for field trips and interaction with industry.

Depending on the option chosen, coursework focuses on applied business (management, marketing, finance, law, policy), financial planning, environmental analysis, community development, or international trade. Upper-level courses tend to be relatively small so that students get to know each other as well as the faculty member teaching the course. The program has a great deal of flexibility, allowing you to choose a minor in another department. If you do not want a minor in a single department, you can create, in consultation with your advisor, an individualized six-course area of specialization that will best prepare you for the career path you want to pursue.

When you enter the program, you are assigned an academic advisor that will stay with you for your entire time in the program, providing the advisor with an opportunity to get to know you well so that he/she can assist you in course selection and in your career search.

For More Information:

Department of Agricultural and Applied Economics
208B Hutcheson Hall (0401)
Blacksburg, VA 24061
(540) 231-6301
aaec_undergrad@agecon.vt.edu

Department of Agricultural and Applied Economics Homepage