Course Syllabus AEB 4334
Spring 2014
University of Florida
Food and Resource Economics Department
AEB4334 – Agricultural Price Analysis
Spring 2014
Section: 6593 (3 credit hours)
Time: M W F 1:55-2:45
(7th period)
Location: MCCB (Mc Carty Hall B ) G086
Instructor and Contact Information:
Instructor:
Office:
Maria Bampasidou
1179 McCarty Hall A
Office Hours:
T-W-R
10:00-11:00 am
M and F
by appointment
[email protected]
E-mail:
Given other professional obligations this
term, availability outside of posted office
hours will be limited. However, feel free
to e-mail me to schedule an appointment.
E-mail is a preferable way to communicate with me outside office hours.
When e-mailing me, please start the subject line with AEB 4334.
Courteous and professional e-mails can expect a prompt reply. Please keep in mind that
it takes at least a day to answer e-mails so send yours in a timely fashion.
FRE Program Assistant:
Kathy Green; 1170 McCarty Hall A; (352) 294-7640
Email: [email protected]
Undergraduate Adviser:
Anne Marie Mattison; McCarty Hall A; (352) 294-7638
Email: [email protected]
Teaching Assistant:
TBA
Office hours: TBA
Email: TBA
E-learning: There is an E-learning web-page for this course. To access E-learning you will need your
Gatorlink username and password. E-learning can be accessed via https://lss.at.ufl.edu/. Should you
have difficulties accessing E-learning, please contact UF Computing Help Desk directly by calling (352)392 HELP or via e-mail [email protected]
Please note that the E-learning site might not be operational until the end of the first week of the
semester.
Page 1 of 9
Course Syllabus AEB 4334
Spring 2014
General Course Information:
Text:
Managerial Economics—Foundations of Business Analysis and Strategy, 11th Edition
Authors: Christopher Thomas and S. Charles Maurice
Publisher: McGraw Hill/Irwin Publishers, 2013 ISBN: 0078021715

You will need a copy of the book. Earlier editions are acceptable but you are responsible to
match the material covered during the course.

There will be hand-outs to be posted on-line. You are responsible for those.
Course description: Quantitative measurement of factors affecting agricultural and resource prices;
seasonal and cyclical fluctuations; index measures of price and quantity variables; theory and application
of consumer behavior principles.
This course is a managerial economics course that combines quantitative analysis with microeconomic
theory and industrial organization theory. The goal of this course is to give students a thorough
understanding of the economic principles and theories that govern consumer behavior and the behavior
of firms.
Prerequisites: AEB 3103 and AEB 3550. AEB 4334 will be taught with the assumption that students are
comfortable with the material covered in these courses. In addition, though AEB 3510 is not a
prerequisite, students are expected to have a working knowledge of algebra, statistics, and calculus
(differential calculus would be preferable). Should you have any concerns please see me as soon as
possible.
Course format and related issues: This is an upper-division analytical core course for the Food and
Resource Economics major. The course will be based on lectures where main theories, frameworks, and
models will be presented in class followed by discussion sessions and applications.
Due to the nature and the quantity of material covered, missing the class will negatively impact your
performance in this course. Formal attendance will be taken and students are expected to arrive in class
on time. Class will promptly start at 1:55pm. Please see also the “Professional Etiquette” section on the
syllabus.
Reading your textbook and the lecture notes is imperative to benefit the most out of the course. In
addition, students may be assigned readings from current periodicals as they become available. You will
be notified about the handouts in class and through e-mail.
You should expect to study a minimum of 3 hours/credit to cover and comprehend course material.
During exam weeks the time-commitment will be significantly higher.
Page 2 of 9
Course Syllabus AEB 4334
Spring 2014
Course Structure and Course Content
Course Objectives: After successful completion of this course, students should







have a sophisticated understanding of tools and methodologies employed in modern economic
analysis of firm operations and managerial decisions
be able to understand the importance and dynamics of markets
o economic actors
o empirical formulation of supply-demand
o the nature of elasticity and implications on the operations of a firm
be able to understand the economic principles underlying consumer behavior
be able to understand the economic principles underlying firm behavior
be able to understand the empirical formulation of production and cost functions
have a broad knowledge of main market structures and how they affect firm decision making
o optimizing behavior, strategic interaction between economic agents
be able to understand the difference between short-term and long-term planning decisions of a
firm
Course Modules and Outline:
(A) Methodology and Managerial Analysis
An introduction to managerial economics. Last part revises basic economic techniques used in
decision making, market analysis, and firm optimizing behavior.
Introduction:
Chapter 1:
Chapter 3:
Chapter 4:
Syllabus—Scope and Format of the course
Managers, Profits, Markets
Marginal Analysis for Optimal Decisions
Basic Estimation Techniques
[Jan. 6th]
[Jan. 8th]
[Jan. 10th and 13th]
[Jan. 13th, 15th and 17th]
(B) Demand Analysis and Consumer Behavior
Some material in this module may seem familiar to students from previous courses. We will
cover topics more rigorously and in a more quantitative manner.
Chapter 2:
Chapter 6:
Chapter 5:
Review:
Demand, Supply, and Market Equilibrium
Elasticity and Demand
Theory and Consumer Behavior
Workshop, Problem sets
[Jan. 22nd and 24th]
[Jan. 27th, 29th and 31st]
[Feb. 3rd and 5th]
[Feb. 7th]
(C) Production and Cost Analysis
A core module focusing on production decisions taking into consideration the time horizon.
Chapter 8:
Chapter 9:
Chapter 10:
Review:
Production and Cost in the Short Run
Production and Cost in the Long Run
Production and Cost Estimation
Workshop, Problem sets
[Feb. 12th, 14thand 17th]
[Feb. 19th, 21st and 24th]
[Feb. 26th, 28th and Mar. 10th]
[Mar. 12th and 14th]
Page 3 of 9
Course Syllabus AEB 4334
Spring 2014
(D) Decision Making and Market Structure
This core module emphasizes managerial decisions in key market structures (competitive
markets, oligopolies, etc.).
Chapter 11:
Chapter 12:
Managerial Decisions in Competitive Markets
Managerial Decisions for Firms with Market Power
Chapter 13:
Chapter 15:
Review:
Strategic Decision Making in Oligopoly Markets
Decisions under Risk and Uncertainty
Workshop, Problem sets
[Mar. 19th, 21st and 24th]
[Mar. 26th, 28th, 31st and
Apr. 2nd]
[Apr. 4th,7th ,9th and 11th]
[Apr. 11th, 14th, and 16th]
[Apr. 16th and 18th]
The instructor reserves the right to change the material, the chapters, and the respective dates as
appropriate. Any changes will be communicated timely in class, via the UF e-mail list serve, and via Elearning. It is the student’s responsibility to stay informed and updated of any changes.
Suggested Exercises
The following suggested exercises can be found at the end of the specified chapter. Students are advised
to work on these problems and also use them as a review of the respective chapter. You could work
individually or as a group, this type of cooperative learning is encouraged; however be sure to have a
thorough understanding of the concepts to ensure that you could work through the problems on your
own.
Chapter
Chapter 1
Chapter 3
Chapter 4
Chapter 2
Chapter 6
Chapter 5
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Suggested Questions and Problems
1, 2, 3
2, 3, 4, 6, 8, 10, 12
1, 5, 6, 7, 9, 10, 11
1, 2, 3, 4, 6, 7, 8, 9, 11, 12, 15, 16, 17
1, 2, 4, 8, 11, 14, 16
1, 3, 4, 5, 6, 7, 9, 10
2, 4, 6, 8, 9, 11, 13
1, 2, 3, 4, 6, 7
1, 2, 3
1, 2, 4, 5, 6, 10
4, 5, 6, 7, 9, 12, 13, 15, 16
3, 4, 6, 11, 15
These exercises are
NOT to be turned in
for credit; you could
find their solutions
under the
“Suggested Exercises
Solutions” tab on Elearning.
Page 4 of 9
Course Syllabus AEB 4334
Spring 2014
Evaluation of Performance and Grading:
Grades: Your grade will be determined based on your performance on the exams administered during
the course. Your final grade for AEB 4334 will be based on the following:
Grade components
Exam 1
Exam 2
Exam 3
In-class exams
(@ 100 points each)
Final Exam
Optional Final Exam
100 points
Assignments
The highest 4 scores from 6
assignments (@ 20 points each)
80 points
Attendance Quiz, Participation in
workshops, etc.
20 points
300 points
Course
Participation
Max Total:
400 points
Your course grade will be determined by the option that is more advantageous for you. Final course
grade will have the following benchmarks out of 400 possible grade points:
Letter
A
AB+
B
BC+
C
CD+
D
DE
Course Equivalent
above 372
360-371
348-359
332-347
320-331
308-319
292-307
280-291
268-279
252-267
240-251
Below 239
Notes
For general information about grading and grading policy at the University
of Florida, please refer to:
http://www.registrar.ufl.edu/catalog/policies/regulationgrades.html
Please note that grades are not “rounded” nor “adjusted” in any way at
the end of the term.
Exams: There will be three (3) in-class exams offered during the semester for AEB 4334. Each exam is
worth 100 points and will take place in the classroom. The exams will consist of multiple-choice,
problem-solving and short answer questions. The exams may be based on material covered in class,
material from the book, or concepts implied by the material covered.
Each exam is scheduled for 50 minutes and will commence at 1:55pm. The exam dates are specified in
this syllabus. Each exam will be based on specific sections covered in class within the specific timePage 5 of 9
Course Syllabus AEB 4334
Spring 2014
period (i.e. no cumulative, though concepts are transferable and more than one ways to approach exam
questions may be possible). There will be no lecturing on exam days and class will consequently dismiss
after the completion of the exam.
The exams are closed book and closed notes. A simple calculator may be used. Not acceptable are the
following items: graphing calculators and calculators with more than one display row, cell phones,
touch-screen devices, or other devices with the capability of storing formulae.
Exam day policy: It is expected that all students are on-time to exams. Please arrive early, if possible, to
get seated and get your books/bags stowed away so that the exam can start on the stated-time. You
may leave the class after 20 minutes. NO ONE WILL BE ALLOWED TO ENTER THE CLASSROOM TO BEGIN
THE EXAM AFTER THE FIRST STUDENT HAS TURNED IN THEIR FINISHED EXAM.
In-class Exam dates:
Exam 1: February, 10th
Exam 2: March, 17th
Exam 3: April, 21st
The instructor reserves the right to change these dates as appropriate. Any changes will be
communicated timely in class, via the UF e-mail list serve, and via E-learning. It is the student’s
responsibility to stay informed and updated of any changes.
Final Exam Date:
1 May 2014 (05/01/2014)
10:00am-12:00pm
The final exam is optional and comprehensive. It will be given during the Final Exams week at the end of
the term. The final exam will cover material from the overall course and it is out of 100 points.
Importantly: There are NO “excused” exams. It is expected that you adequately and thoroughly prepare
for each one of them since they are counting towards your course grade. Should you miss any of the inclass exams, that exam score will be dropped and you will have a mandatory final.
If you are participating in a University of Florida sponsored event, you may make up a class exam only
if you bring your documentation to your instructor PRIOR to the event (at least 7 days prior to a
scheduled exam). Email documentation is NO LONGER enough. You need to bring a printed mail from
the corresponding event organizers or association.
Homework problems: Homework problems from the textbook or from the handouts will be assigned at
a regular basis throughout the semester. There will be 6 assignments turned in for credit each worth 20
points. They are assigned to assist you in learning the material and are highly related to exam questions
and hence to your performance in the course. The lowest 2 scores will be dropped, so a total of 80
possible points will count towards your course grade. Students will be notified in a timely manner
regarding the deadlines of the assignments through E-learning and e-mail. These are individual
assignments and will be treated as such! Assignments are due before class starts. Since you are allowed
to drop 2 assignments late submission is not accepted though early submission is encouraged.
Page 6 of 9
Course Syllabus AEB 4334
Homework Problems
HW1
HW2
HW3
HW4
HW5
HW6
Spring 2014
Assigned Date
8th January
22nd January
12th February
24th February
19th March
2nd April
Due Date
22nd January
5th February
24th February
14th March
31st March
16th April
Note that the due dates may be subject to change depending on the material covered in class.
IMPORTANTLY! You have 7 days after the grade has been posted to voice your concern. Should you
believe that your exam/assignment/quiz is incorrectly graded or that your grade is incorrectly posted,
please contact me via e-mail as soon as possible. After the 7 days have passed, your posted grade will be
assumed to be correct and accurate.
Course Participation and Attendance: Students are expected to attend class and to be in class on-time.
Given the nature and the quantity of material covered in class, regular attendance is a pre-requisite for
performing well in this course.
Students can earn up to 20 points towards their grade through class participation and workshop
participation. During specified days, the class will meet to review main concepts and go through
problem sets. Attendance will be taken during those days. The instructor reserves also the right to
administer attendance quizzes. Students will not be notified for the days those quizzes will be
administered.
Professional Etiquette: The following guidelines are expected to be followed in order to have a
productive classroom environment.
 CELLULAR PHONES are expected to be turned off. No texting or any other use of cellular phones
is permitted or tolerated in class. So please take a moment to turn-off your devices before the
class begins. You should also discontinue the use of any iPods, Blackberries or similar devices.
 Students are expected to arrive on-time for class.
 You should avoid talking amongst each other once the lecture begins unless otherwise stated
(i.e. part of a classroom-activity/assignment). If you have any questions during class, please
raise your hand and I will be happy to address any concerns you may have.
 You should not read other course material or any type of newspaper during the class.
If you cannot abide by these simple courtesy rules you will be asked to leave the classroom. I reserve the
right to penalize any student violating these rules by deducting points from your final course grade or
dropping you from the class roaster.
Page 7 of 9
Course Syllabus AEB 4334
Spring 2014
Supplemental Information:
Students requesting classroom accommodation: The Disability Resource Center (DRC) coordinates the
needed accommodations of students with disabilities. This includes registering disabilities,
recommending academic accommodations within the classroom, accessing special adaptive computer
equipment, providing interpretation services and mediating faculty-student disability related issues.
Please contact office 0020 Reid Hall (tel: (352) 392-8565), www.dso.ufl.edu/drc . Any student requesting
accommodation will have to provide documentation from the DRC.
"Students requesting classroom accommodation must first register with the Dean of Students Office.
The Dean of Students Office will provide documentation to the student who must then provide this
documentation to the Instructor when requesting accommodation."
Request for academic accommodations need to be made during the first week of the semester, except
for unusual circumstance, so please arrange to meet with me as soon as possible.
Course Evaluation Process:
“Students are expected to provide feedback on the quality of instruction in this course based on 10
criteria. These evaluations are conducted online at https://evaluations.ufl.edu
Evaluations are typically open during the last two or three weeks of the semester, but students will be
given specific times when they are open. Summary results of these assessments are available to
students at https://evaluations.ufl.edu/results.”
Software Use:
All faculty, staff and students of the university are required and expected to obey the laws and legal
agreements governing software use. Failure to do so can lead to monetary damages and/or criminal
penalties for the individual violator. Because such violations are also against university policies and
rules, disciplinary action will be taken as appropriate.
UF Supporting Services: College life can sometimes being overwhelming. Resources are available oncampus to help students manage personal issues or gain insight into career and academic goals. Some of
them are:





Counseling and Wellness Center : http://www.counseling.ufl.edu/cwc/
Student Health Care Center: http://shcc.ufl.edu/
Career Resource Center: http://www.crc.ufl.edu/
Dean of Students Office: http://www.dso.ufl.edu/
For a full list of services please see https://catalog.ufl.edu/ugrad/current/support/info/studentservices.aspx#SA
Page 8 of 9
Course Syllabus AEB 4334
Spring 2014
Academic Honesty: Academic dishonesty is defined as any behavior, active or passive, which attempts
to subvert the legitimate teaching, learning, or testing of a subject. It includes, but is not limited to the
following:
- cheating on an examination, using notes or other methods;
- assisting or allowing another student to cheat on an examination;
- submission of work that is not the authentic creation of the student (plagiarism, use of purchased term
papers, etc.);
- providing false excuses for missing a scheduled examination;
- enabling the cheating or other academic dishonesty of another student;
- altering an examination after it has been graded to claim a better grade is deserved;
- obtaining examinations in advance of the scheduled exam, unless offered by the professor;
Please remember that you committed yourself to academic honesty when you registered at the
University of Florida by signing the statement:
"I understand that the University of Florida expects its students to be honest in all of their academic
work. I agree to adhere to this commitment to academic honesty and understand that my failure to
comply with the commitment may result in disciplinary action, up to and including expulsion from the
University."
The penalty for any incidence of academic dishonesty is, as a minimum, a failing grade on the
examination or assignment. If, in the professor’s opinion, the offense deserves a more severe penalty,
failure in the course may be the imposed penalty. In particularly egregious cases, the professor may ask
the College to dismiss the student and refuse the student further enrollment rights at the College.
It is in your best interests to avoid even the appearance of any questionable behavior.
Important Dates:
January 6
January 10
January 20
January 31
February 10
March 1-8
March 17
April 16
April 23
May 1
Classes Begin
Drop/Add deadline
Martin Luther King Jr. Day
Degree Applications
Exam 1
Spring Break
Exam 2
Exam 3
Classes End
Final Exam
By enrolling in this course you are agreeing to the terms outlined in this syllabus.
Please see me should you have any questions.
Let’s experience a rewarding and productive semester!
Page 9 of 9