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Studies & Degrees in Agricultural Economy

Agricultural economics applies the tools of economics to farming, food and natural resources. It asks how farms and food companies decide what to produce, how prices of crops and livestock are formed, how trade and public policy affect rural incomes, and how land, water and forests can be used without exhausting them. The field has grown well beyond the farm gate. Purdue University describes the work of its Agricultural Economics department as covering development, trade, macroeconomic policy, agribusiness, production and consumption, through to environmental and resource issues. The University of Wisconsin-Madison, whose department states that it was the first specialised one of its kind in the world, now calls it Agricultural and Applied Economics.

Students learn microeconomic theory, statistics and econometrics, and apply them to farm and agribusiness management, commodity markets, agricultural finance, food policy, international development and environmental economics. Compared with a general economics degree, there is more applied work with real data from the food sector.

Qualifications and levels

  • Bachelor's degrees. In the United States the bachelor's degree is planned over four years, and departments usually offer two tracks, one more analytical and one more managerial. The University of Wisconsin-Madison offers a B.S. in Agricultural and Applied Economics and a B.S. in Agricultural Business Management. Texas Tech University has a Bachelor of Science in Agricultural & Applied Economics and a Bachelor of Science in Agribusiness. The University of Maryland offers two majors, Agricultural and Resource Economics and Environmental and Resource Economics.
  • Master's degrees. Research master's degrees deepen theory and quantitative methods. Colorado State University describes its M.S. in Agricultural and Resource Economics as training in microeconomic theory and econometrics for applied economic research in the public and private sectors. Professional master's degrees are oriented to management, such as the Master of Agribusiness at Texas Tech or the M.Sc. in Marketing for the Agro-Food Sector at Perrotis College in Greece.
  • Doctorates. The PhD prepares for research and university teaching. The programmes at Colorado State, Texas Tech, Maryland and Wisconsin-Madison are examples.
  • Europe. Under the European credit system, 60 ECTS credits correspond to one full year of study; a bachelor's degree has 180 or 240 ECTS credits and a master's degree usually 90 or 120.

Two-year colleges in the United States also teach the subject at an introductory level. The Agriculture associate degree of Williston State College in North Dakota, for example, has an Agribusiness Management option with courses in agricultural marketing and agricultural finance. If you plan to continue to a bachelor's degree, ask the college which universities accept its credits.

Where to study it

SpainExchange lists 18 active schools for agricultural economics. Eleven are in the United States and two in Canada; Nigeria, Iraq, Greece, Zimbabwe and Slovenia have one each. Many of the US schools are public land-grant universities with a college of agriculture, such as Purdue University, the University of Wisconsin-Madison, the University of Maryland, Texas Tech University, Colorado State University and the University of California at Berkeley. Outside the United States the list includes McGill University in Montreal, Obafemi Awolowo University in Nigeria, Midlands State University in Zimbabwe, the University of Maribor in Slovenia and Perrotis College in Thessaloniki.

Teaching in the United States is in English. Perrotis College also teaches in English, and states that its degrees are certified by Cardiff Metropolitan University in the United Kingdom. For other countries, check the language of instruction of each programme. It also helps to look at the specialisations on offer: Wisconsin-Madison, for example, lists development economics, agricultural business, applied economics, environmental and resource economics and managerial economics.

Careers

Graduates work in agribusiness and food companies, banks and agricultural lenders, commodity trading, consultancies, government departments, international organisations and research. The University of Wisconsin-Madison reports that many of its graduates find employment as business analysts, sales representatives and commodity specialists.

Official US figures exist for two related occupations. The Bureau of Labor Statistics (BLS) projects employment of economists to grow 5 percent from 2025 to 2035, with about 1,100 openings a year, and notes that economists typically need at least a master's degree. Employment of farmers, ranchers and other agricultural managers is projected to decline 3 percent over the same period, although about 70,800 openings a year are expected as people leave the occupation; the BLS adds that farm managers may benefit from postsecondary education as farm and land management grows more complex.

Frequently asked questions

What is the difference between agricultural economics and agribusiness?

Agricultural economics is more analytical, built on economic theory, statistics and policy. Agribusiness degrees focus on managing companies in the food and farm sector. Many departments offer both, as Wisconsin-Madison and Texas Tech do.

Do I need a farming background?

The department pages consulted for this guide do not list one as a requirement, and the subject today covers trade, development, food markets and the environment as well as farming. Check the admission requirements of each university.

How long does the degree take?

A US bachelor's degree is planned over four years. In Europe a bachelor's degree has 180 or 240 ECTS credits and a master's degree usually 90 or 120, at 60 credits per year.

Is a master's degree necessary?

For work as an economist, usually yes: according to the BLS, economists typically need at least a master's degree. Graduates with a bachelor's degree commonly start in business analysis, sales and commodity roles.