Colin Carter

Distinguished Professor

Agricultural and Resource Economics
3108 Social Sciences and Humanities
University of California, Davis

University of California

Office Hours

By Appointment

Fields of Interest

Commodity markets, International trade, China's rural economy

Recent Courses

ARE 139: Futures and Options Markets
ARE 222: International Agricultural Trade and Policy
ARE 233: Agricultural Policy

Education

Ph.D., 1980
University of California, Berkeley

Textbooks

Futures and Options Markets: An Introduction

100A. Intermediate Microeconomics: Theory of Production and Consumption (4)

Lecture—3 hours: discussion—1 hour. Prerequisite: Economics 1A, 1B; Mathematics 16A, 16B and 16C (or MAT 21A and 21B; or MAT 17A and 17B). Theory of individual consumer and market demand; theory of production and supply of agricultural products, with particular reference to the individual firm; price determination, and employment of resources under pure competition. (Not open for credit to students who have completed Economics 100.)

100B. Intermediate Microeconomics: Imperfect Competition, Markets and Welfare Economics (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100A. Price determination, and employment of resources under conditions of monopoly, oligopoly, and monopolistic competition.

106. Econometric Theory and Applications (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100A, Statistics 103. Statistical methods for analyzing data to solve problems in managerial economics. Topics include the linear regression model, methods to resolve data problems, and the economic interpretation of results. Not open for credit to students who have enrolled in or completed Economics 140.

107. NEW-Econometrics for Business Decisions (4)

Lecture--3 hours; discussion--1 hour. Prerequisite: course 106. Covers state-of-the art econometric and statistical methods for causal and predictive modeling with applications to finance and marketing.

112. Fundamentals of Organization Management (4)

Lecture—4 hours. Prerequisite: upper division standing or consent of instructor. The role of organizational design and behavior in business and public agencies. Principles of planning, decision making; individual behavior, management, leadership, informal groups, conflict and change in the organization.

113. Fundamentals of Marketing Management (4)

Prerequisite: Economics 1A; for non-majors only. Nature of product marketing by the business firm. Customer-product relationships, pricing and demand; new product development and marketing strategy; promotion and advertising; product life cycles; the distribution system; manufacturing, wholesaling, retailing. Government regulation and restraints. Not open for credit to students who have completed course 136. Offered irregularly. W

115A. Economic Development (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: Economics 1A and 1B. Major issues encountered in emerging from international poverty, problems of growth and structural change, human welfare, population growth and health, labor markets and internal migration. Important issues of policy concerning international trade and industrialization. (Same course as Economics 115A.)

115B. Economic Development (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: Economics 1A and 1B. Macroeconomic issues of developing countries. Issues include problems in generating capital, conduct of monetary and fiscal policies, foreign aid and investment. Important issues of policy concerning international borrowing and external debt of developing countries. (Same course as Economics 115B.)

118. Tax Accounting (4)

Lecture—4 hours. Prerequisite: Management 11A, 11B; course 18 recommended. Development and application of a framework to understand the tax effects of typical management decisions on both entities and their owners. Impacts that different methods of taxation have on business entities with emphasis on tax planning, using income and deduction strategies, retirement plans, and choice of business entity for tax minimization. Offered irregularly.

119. Intermediate Managerial Accounting (4)

Lecture—4hours. Prerequisite: Management 11A and 11B. Use of accounting information by managers in decision making, planning, directing and controlling operations. Focuses on managerial/cost accounting theory and practice. Covers costing systems, budgeting, and financial statement analysis.

120. Agricultural Policy (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100A. Analytical treatment of historical and current economic problems and governmental policies influencing American agriculture. Uses of economic theory to develop historical and conceptual understanding of the economics of agriculture; how public policy Influences the nature and performance of American agriculture.

121. Economics of Agricultural Sustainability (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: Plant Sciences 15; Community and Regional Development 20; Economics 1A; Mathematics 12 or equivalent. Application of economic concepts to agro-environmental issues relevant to agricultural sustainability. Topics include market efficiency, production externalities, government policies, agricultural trade, product differentiation, all linked to sustainability issues. Case studies include biofuels, genetically modified foods and geographically differentiated products.

130. Agricultural Markets (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 106. The nature, function, organizational structure, and operation of agricultural markets; prices, costs, and margins; market information, regulation, and controls; cooperative marketing.

132. Cooperative Business Enterprises (3)

Lecture—3 hours. Prerequisite: Economics 1A. Study of cooperative business enterprise in the United States and elsewhere; economic theories of behavior, principles of operation, finance, decision-making, and taxation.

133. Introduction to Behavioral Economics (4)

Lecture—3 hour(s); Discussion—1 hour(s). Prerequisite(s): (ECN 001A C- or better or ECN 001AV C- or better); (STA 013 C- or better or STA 013Y C- or better). Pass One open to Managerial Economics majors. Inclusion of non-economic factors such as psychological principles in economic decisions and model predictions. Emphasis on behavioral principles, resulting strategies and implications for diverse market settings.

135. Marketing Plan Development (2)

Lecture/discussion - 2 hours. Prerequisite: upper division standing. Fundamental components required to develop a marketing plan. Appreciation of the concept of a marketing plan, appropriate research required, including the use of library and internet, survey and interview instruments, government documents, market analysis, business proposition, action planning, financial evaluation and monitoring. P/NP grading only. S

136. Managerial Marketing (4)

Lecture—4 hours. Prerequisite: course 100A; Statistics 103. Application of economic theory and statistics in the study of marketing. Marketing measurement and forecasting, market planning, market segmentation, determination of optimal product market mix, sales and cost analysis, conduct of marketing research, marketing models and systems.

138. International Commodity and Resource Markets (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100B. Basic nature and scope of international trade in agricultural commodities, agricultural inputs, and natural resources. Market dimensions and policy institutions. Case studies to illustrate import and export problems associated with different regions and commodities.

139. Futures and Options Markets (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100A; Statistics 103. History, mechanics, and economic functions of futures and options markets; hedging; theory of inter-temporal price formation and behavior of futures and options prices; price forecasting; futures and options as policy tools.

140. Farm Management (4)

Lecture—4 hours. Prerequisite: Economics 1A. Farm organization and resources; economic and technological principles in decision making; analytical techniques and management control; problems in organizing and managing the farm business.

142. Personal Finance (3)

NOTE: Not accepted as a restricted elective. Lecture—3 hours. Prerequisite: Economics 1B. Management of income and expenditures by the household. Use of consumer credit, savings, and insurance by households. Principles of tax, retirement, and estate planning.

143. Investments (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: None. Survey of investment institutions, sources of investment information, and portfolio theory. Analysis of the stock, bond and real estate markets from the perspective of the investor.

144. Real Estate Economics (3)

Lecture—3 hours. Prerequisite: course 100A. The economic theory, analysis, and institutions of real estate markets and related financial markets. Case studies drawn from the raw land, single family, multifamily, industrial and office real estate markets.

145. Farm and Rural Resources Appraisal (4)

Lecture/discussion—4 hours. Prerequisites: None. Principles, procedures, and practice of the valuation process with specific emphasis placed on farm real estate. Concepts of value, description of land, identification of the major physical and economic determinants of value, the three primary appraisal approaches to valuation, discussion of appraisal activity and practice.

146. Business, Government Regulation, and Society (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100B. Variety, nature and impact of government regulation: anti-trust laws and economic and social regulation. Nature of the legislative process, promulgation of regulations, and their impact, especially as analyzed by economists.

147. Resource and Environmental Policy Analysis (3)

Lecture—3 hours. Prerequisite: Economics 1A; enrollment open to non-majors only. Natural resource use problems with emphasis on past and current policies and institutions affecting resource use; determinants, principles, and patterns of natural resource use; property rights; conservation; private and public resource use problems; and public issues. (Students who have had or are taking course 100A, Economics 100, or the equivalent, may receive only 2 units of credit, so must enroll in course 147M instead.)

147M. Resource and Environmental Policy Analysis (2)

Lecture—3 hours. Prerequisite: Economics 1A; enrollment open to non-majors only. Natural resource use problems with emphasis on past and current policies and institutions affecting resource use; determinants, principles, and patterns of natural resource use; property rights; conservation; private and public resource use problems; and public issues. (Students who have had or are taking course 100A, Economics 100, or the equivalent, must enroll in this course (for 2 units) rather than course 147.)

150. Agricultural Labor (4)

Lecture—3 hours; discussion—1 hour. Analysis of labor markets with focus on U.S. and world agriculture. Labor supply, demand, market equilibrium; why farm labor markets are different; global trends in farm labor; U.S. farm labor history; unions and collective bargaining; immigration policy.

155. Operations Research and Management Science (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100A; Statistics 103. Introduction to quantitative methods used to analyze business and economic processes: decision analysis for management, mathematical programming, competitive analysis, and other methods.

156. Introduction to Mathematical Economics (4)

Lecture—4 hours. Prerequisite: courses 100A and 155; Mathematics 16C or 21C recommended (students should note that the formal mathematical content of this course is higher than other courses in the curriculum). Linear algebra for economists; necessary and sufficient conditions in static optimization problems; implicit function theorem; economic methodology and mathematics; comparative statics; envelope theorem; Le Chatelier principle; applications to production and consumer models. Not offered every year.

157. Analysis for Operations and Production Management (4)

Lecture—4 hours. Prerequisite: course 155; Statistics 103. Application of economic theory and quantitative methods to analyze operations and production management problems including process strategy, quality management, location and plant layout, and inventory management.

165. NEW-Emerging Economies and Globalization (4)

Lecture--3 hours; discussion--1 hour. Prerequisite: courses 100A, 115A and 115B. ARE 106 and ECN 162 are strongly recommended. Economic drivers and policy challenges in the major emerging markets, with an emphasis on the effects of rising incomes, population growth, urbanization, and relative wages on world markets and natural resources.

171A. Financial Management of the Firm (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 106; Management 11A-11B. Financial analysis at the firm level: methods of depreciation; influence of the tax structure; inventory, cash, and accounts receivable management; sources of short-term and long term financing, and financial problem solving using a computer spreadsheet program. Not open for credit to students who have completed Economics 134.

171B. Financial Management of the Firm (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 171A. Financial analysis at the firm level: methods of capital budgeting; calculating the cost of capital; dividend policies; mergers and acquisitions; and special current topics in finance.

175. Natural Resource Economics (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100B or Economics 100 or the equivalent. Economic concepts and policy issues associated with natural resources, renewable resources, (ground water, forests, fisheries, and wildlife populations) and nonrenewable resources (minerals and energy resources, soil). (Same course as Environmental Science and Policy 175.)

176. Environmental Economics (4)

Lecture—3 hours; discussion—1 hour. Prerequisite: course 100B or Economics 100. Role of the environment in economic activity and methods for protecting and enhancing environmental quality; implications of market failures for public policy; design of environmental policy; theory of welfare measurement; measuring the benefits of environmental improvement.

190. Topics in Managerial Economics (3)

Lecture—3 hours. Prerequisite: passing grades in course 100A and Statistics 103; consent of instructor. Selected topics in agricultural and resource economics, focusing on current research. May be repeated four times for credit when topic differs. Not offered every year.

192. Internship (1-6)

Internship—3-18 hours. Internship experience off and on campus in all subject areas offered in the Department of Agricultural and Resource Economics. Internships are supervised by a member of the staff. (P/NP grading only.)

194HA. Special Study for Honors Students (4-4)

Independent study—3 hours; seminar—1 hour. Prerequisite: Minimum GPA of 3.500; course 100B; courses 106 and 155 (may be taken concurrently); major in Agricultural and Managerial Economics or Managerial Economics; senior standing. A program of research culminating in the writing of a senior honors thesis under the direction of a faculty adviser. (Deferred grading only, pending completion of sequence.)

194HB. Special Study for Honors Students (4-4)

197T. Tutoring in Managerial Economics (1-3)

Hours and duties will vary depending upon the course being tutored. Prerequisite: senior standing in Agricultural and Resource Economics and consent of Department Chairperson. Tutor will lead small discussion groups affiliated with one of the department’s regular courses, under the supervision of, and at the option of the instructor in charge of the course. (P/NP grading only.)

198. Directed Group Study (1-5)

Prerequisite: consent of instructor. (P/NP grading only.)

199. Special Study for Advanced Undergraduates (1-5)