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Introduction to Agricultural and Natural Resources

This course, FREC 150 – Economics of Agriculture and Natural Resources, led by Dr. Steven E. Hastings, explores the pivotal role of agriculture and the food and fiber system in today's economy. Students will learn foundational economic principles, apply them to agricultural, natural resource, and environmental issues, and understand the significance of economics in addressing real-world challenges. Engage with topics such as competitive markets, supply and demand, externalities, and more, opening the door to a range of opportunities in related fields.

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Introduction to Agricultural and Natural Resources

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  1. Introduction to Agricultural and Natural Resources Course Summary FREC 150 Dr. Steven E. Hastings

  2. FREC 150 – Economics of Agriculture and Natural Resources • Objectives • Introduce the role of agriculture (the Food and Fiber System) in today’s economy. • Introduce basic economic principles in agricultural, natural resource and environmental issues. • Convey the role of economics in managing current issues. • Summary • Course “opens the door” on the way economists “think about things” and using economic principles (tools) to address real world problems.

  3. The Door! Competitive Markets Marginal Utility Equi-marginal Returns Supply and Demand Externalities Invisible Hand

  4. Options for More! • APEC Majors • Food and Agribusiness Marketing and Management • Environmental and Resource Economics • Natural Resource Management • Statistics • FREC Minors • Food and Agribusiness Marketing and Management • Resource Economics • Many Courses! – Marketing, Biotechnology, Environmental Economics, Statistics, International Trade, etc! • Contact: Dr. Hastings - 209 Townsend Hall (hastings@udel.edu)

  5. The next step is up to you! • Thank you for your attendance and participation.

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