Ph.D. Agricultural Economics

Our Ph.D. in Agricultural Economics is a premier program that produces leaders who find success in academia, government and leading industry positions.

This program offers rigorous training in economics and quantitative methods, with a strong emphasis in applied economics applications. Students choose between three field areas:

Agribusiness
Markets and Information Economics
Natural Resource and Environmental Economics

Within each field area, you’ll work collaboratively with professors to ask important industry questions and relentlessly pursue an understanding of the complex world of economics and our global society.

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Program Details

We offer two routes to the Ph.D. Our traditional route is for those who have obtained a master’s degree. We also offer a 96 credit hour option for those who have obtained a bachelor’s degree, but have not completed a master’s degree. In both, students will explore economic theory and gain a robust research skillset for applying that theory to solve complex agricultural issues. To view a degree planning guide, students are encouraged to look at the Graduate Handbook.

Students applying to the Ph.D. program are required to submit GRE scores with their application.

Degree: Ph.D. in Agricultural Economics
Credit Hours: 64 (traditional) or 96 total credit hours

Program Requirements

Field Areas

Students pursuing a Ph.D. in Agricultural Economics choose from one of three field areas. This allows students to narrow their focus and refine their expertise to best align with their professional career goals. Within the agribusiness field area, students can also choose to specialize even further, through one of four emphasis areas.

To view degree planning guides for each area, students are encouraged to look at the Graduate Handbook. Page numbers can be found in the Table of Figures.

Agribusiness

Students choosing this field area will be uniquely qualified to teach agribusiness and conduct research in academic, government and consulting careers. This program provides a solid foundation of economic theory and application. To gain further expertise and refine their skillset, students pursuing the the agribusiness field area can choose to emphasize in one of four areas:

1. Finance
2. Marketing
3. Strategic Management
4. Supply Chain Management

Markets and Information Economics

Students choosing this field area will be uniquely qualified to teach agricultural economics and conduct information economics and food market research. This field area allows students to gain expertise related to market and demand analysis, product valuation, use of directed acyclic graphs in economic analysis, commodity futures and options, information acquisition, price dispersion, industrial organization, and auctions

Natural Resource and Environmental Economics

Students choosing this field area will be uniquely qualified to teach agricultural economics and conduct applied economic research to evaluate the the use, transfer and allocation of natural resources to help inform environmental policy and natural resource management strategies. Students will gain expertise applying economic tools and theories to advance the health and sustainability of our natural world.

Graduate Admissions

Texas A&M University is the premier choice to gain a graduate degree, thanks to our national academic ranking and high financial value. Joining the Aggie Family and gaining an advanced degree from Texas A&M puts students in the highest class of job candidates.

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What Do I Need to Apply?

Note: GRE scores are required. Visit admissions.tamu.edu for information on sending official test scores to Texas A&M University.
Minimum GPR of 3.0 in the last 60 hours of undergraduate work, or 3.25 in 30 hours or more of graduate work.
Application through the Texas A&M University GraduateCAS system
Resume or Curriculum Vitae
Statement of Purpose
Three letters of recommendation, submitted online with your application.
Official transcripts and records, sent to the Office of Admissions.

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Cost of Attendance

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International Students

Official TOEFL scores are required for international applicants. Official scores must be sent by ETS directly to Texas A&M University using the school code: 6003. Visit the Graduate and Professional School website for a list of requirements, exemptions and other useful information regarding the TOEFL/IELTS Exams.

International Student Resources

Admissions Decisions

You will receive an admissions decision either in a letter from the Texas A&M University Office of Admissions or from the department.

Scholarships and Financial Aid

By submitting an application, all students are considered for departmental funding opportunities. To be considered for additional funding opportunities outside of the department, students are encouraged to submit the financial aid application and a scholarship application, along with their graduate school application. This ensures students are reviewed for all the types of financial aid that you are eligible for. Remember: each student’s financial aid eligibility may vary. The types of financial aid students are offered is based on the data provided on their financial aid and/or scholarship application. The Master of Agribusiness program does a competitive scholarship review of all admission applications and funding offers are made, based on eligibility and available funds each year. If a student is an international or out-of-state resident and receives a competitive scholarship of at least $1,000, they may qualify for a non-resident tuition waiver.

Prerequisites

Students planning on entering the doctoral in the Department of Agricultural Economics should prepare themselves by completing the following study in math, microeconomics, macroeconomics and econometrics.

Math Requirements

ECMT 660: Mathematical Economics I
This course covers use of selected types of mathematical tools in economic theory (e.g., matrix algebra and multivariate calculus).

The topics covered in ECMT 660 are:
It is important that students have good skills in calculus and optimization. It would be valuable to entering students if they reviewed carefully Chapter 2 (the brief math review) in Walter Nicholson, Microeconomic Theory, 7th edition, 1998. Also, students should have a good understanding of the following topics from Alpha Chiang, Fundamental Methods of Mathematical Economics, 3rd (latest) edition, McGraw-Hill, 1984.

Online Calculus Course
An online calculus course is available which may assist you in your preparation for Masters-level course work. This web site provides a clear, helpful interactive tool for learning calculus. This site is a good way to practice the subject.

Microeconomic Requirements

ECON 607: Foundations of Microeconomic Theory
This course is an introduction to microeconomic theory and applications. Various models using formal analysis will be developed and applied to specific problems. Supply and demand, consumer optimization, theory of the firm (cost minimization and profit maximization), analysis of different market structures (pure competition, monopoly, monopolistic competition, and oligopoly) will be covered. General competitive equilibrium will be introduced.

Topics covered in ECON 607 include:
Economic Models; Market Demand and Market Supply; Theory of Consumer Behavior; Theory of Production and Cost; Imperfectly Competitive Market Structures; General Equilibrium.

Textbook:
Walter Nicholson, Microeconomic Theory, Basic Principles and Extensions, 7th edition (1995), Dryden Press.

Macroeconomic Requirements

ECON 611: Foundations of Macroeconomic Theory
This course is an introduction to development of modern static national income analysis from general equilibrium system; roles of fiscal and monetary policy in promoting economic stability.

Topics covered in ECON 611 include:
Science of Macroeconomics;Data of Macroeconomics; National Income: Its Production, Distribution, and Allocation; Economic Growth; Unemployment; Money and Inflation; The Open Economy; Economic Fluctuations – Short-run; Aggregate Demand; Aggregate; Demand in the Open Economy; Aggregate Supply; Macroeconomic Policy Debate; Consumption; Investment; Money Supply and Money Demand.

Textbook:
G.N. Mankiew, Macroeconomics, 4th edition, Worth Publishers, 2000

Econometric Requirements

AGEC 621: Econometrics for Agribusiness
This course introduces students to theory, methods and applications of statistical techniques for fitting econometric models to economic data. Students will learn methods for summarizing and describing data both numerically and graphically, gain experience in fitting models and interpreting the results. Students will be introduces to statistical software and taught to use its relevant functions.

Topics covered in AGEC 621 include:
Simple Linear Regression Model; The Multiple Regression Model: (Estimating the; Parameters of Multiple Regression Model; Sample Properties of the Least Squares Estimator; Interval Estimation and Hypothesis Testing; Prediction, Goodness-of-Fit and Modeling Issues); Further Inference in the Multiple Regression Model; Seemingly; Unrelated Regression Model (SUR); Simultaneous Equations Models; Discrete Choice Models; Limited Dependent Variable Models; Time Series Models.

Textbook:
Introductory Econometrics: A Modern Approach, J. M. Wooldridge, 4^th Edition, South-Western Publication, 2009.

Additional Mathematical and Statistics Training

Incoming Ph.D. students are encouraged to participate in online, non-credit courses during the summer prior to beginning their program. These include Math Boot Camp, Online Math Camp and Math Training.

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Required Examinations

As part of the program, students will be required to pass qualifier and preliminary exams. Find exams from previous years on our Past Prelims and Qualifiers page.

Qualifying Exams

All students pursuing a Ph.D. in agricultural economics are required to pass a comprehensive qualifier exam. The qualifier is administered twice a year on the Monday before classes begin for the first Summer term and on August 1 (if August 1 falls on a weekend the exam will be held the first weekday prior to August 1). Traditional Ph.D. students are required to take the qualifier in May of their first year. Straight-through Ph.D. students are required to take the qualifier in May of their second year.

Preliminary Exams

Preliminary examinations will be administered twice a year on the Thursday before classes begin for the Spring semester and first Summer term of each year. All Ph.D. students are required to pass one written field preliminary exam in (1) Markets and Information Economics; (2) Environmental and Resource Economics; or 3) Agribusiness and one oral preliminary exam. The oral preliminary exam is administered after the student has passed the written field preliminary exam and before the administration of the next round of written field exams.

Students normally take the departmental field preliminary examination the first time it is offered after they have completed the required field courses. Normally, this will be in May of the second year of study for traditional Ph.D. students and May of the third year for straight-through Ph.D. students. The preliminary examination must be taken no later than the end of the semester following the completion of the formal coursework on the degree plan.

Contact Us

David Leatham

Professor and Associate Head for Graduate Programs

(979) 845-2116

david.leatham@ag.tamu.edu
AGLS 213D
Kathleen Roche

Graduate Program Coordinator - Agricultural Economics

(979) 845-5222

kathleen.roche@ag.tamu.edu
AGLS 213E